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<br />89--- 102334
<br />insurance premiums, ground rents, and all other charges whatsoever levied upon or assessed, placed or made against the Trust
<br />Property. Trustor further agrees, upon written request by Beneficiary, to promptly deliver to Beneficiary all receipts for the payment of
<br />such charges. Truster likewise agrees to pay all taxes, assessments and o ;her charges levied upon or assessed, placed or made
<br />against, or measured by, this Deed of Trust or the recordation hereof.
<br />5. Application of Payments. All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Truster
<br />may be applied by Beneficiary to the payment of the Indebtedness or to any such other debt, liability or obligation, in any order or
<br />manner of application which Beneficiary, in its absolute discretion, deems appropriate. Unless otherwise elected by Beneficiary, any
<br />such payment shall.be deemed applied first to the payment of any debt, liability or obligation other than the Note.
<br />6. Charges; Liens. Truster will keep the Trust Property free from all liens and enaumbrances which in any way may, in the Judgment of
<br />Beneficiary, have priority over, or impair the sectifily of, this Deed of Trust but Truster need not discharge any such lien so long as
<br />Truster shall agree, in writing, to pay the obligation secured by such lien in a manner acceptable to Beneficiary and shag In good faith
<br />contest such lien by appropriate legal proceedings effective to prevent the enforcement of the lien and the loss of any interest in or
<br />part of the Trust Property.
<br />7. Hazard Insurance. Trustor shall keep the buildings and other improvements now existing or hereafter erected on the Trust Property
<br />insured by insurance carriers satisfactory to Beneficiary against loss by fire, hazards included in the tern "extended coverage" and
<br />such other hazards, casualties and contingencies as may be required by Beneficiary, in such amounts and for such periods as may be
<br />required by Beneficiary. The policy ofinsurance shall be in form acceptable to Beneficiary, provide that the same may not be
<br />cancelled or modified without fifteen (15} days prior written notice to Beneficiary, and shall have losd payable provisions in favor of and
<br />in fort acceptable to Beneficiary. Ail pre: alums on insurance policies shall be paid in the manner provided under paragraph 4 hereof
<br />or: ff not paid in such manner, by Trustor making payvrenr at least fifteen (75) days prior to the due date, directly to the insurance
<br />+�a; , i:ar_ Beneficiary shat! have the rightf fa hold the po5cies and irrrawals Prereof and Trus:ar shall promptly firmish Iti Beneficia. -y all
<br />a rat 17WY �B. and all ,aa.`d premiums receiots rece. ed by i:..fit r u event shall Beneficiary cr Trustee be i* 1d rasrr�TSif --.A' for tail Ire, to
<br />,zay vas a i --t;ms er for and: lass err dama_e a -,sir g u,' :, =a detect in err}; policy or a rising out ofar7y t.: nn -
<br />caa.^rpany Ilaj -V:* - �m or d2^7e; 3-•insLu ed agariisn o="rft0re by Tr uevvo effect the insurance cc.gs„ j.' c�?a� r2a-'. r,1 1i7,�es r�rt
<br />to '17 amerarrd9, a 7,afsiary. c c re..rciarymayd f moo•. �'l,ssii`r
<br />matfe3 pier t2 3t'cXtri. ��JEr`orm r ?'rw �'St A'i,xOl Gies of ir„Wr:,ce and any and all rElw mss; c# unea.�:a� � � ?� rzrs �na:rStad�L•y
<br />:�s fined is r -e �c as a� a �?: %c it nj for Ma D3u^!ar ifie indebtedness. in ;rte r +°ant o /Bent "c o�; s ev of the power
<br />"a#site cc!^t #t : a: ,e, tai ?. �:> rr �4e e�i a? of foreclos =a•e, at, gh , *f-3 and interest of Trustor in and to any s. :ranee Fc? � y then in force
<br />shalf pass ta* *-6 purci -s;"�r at the trustee's safe or sa`s. In case of any loss, the insurance pATceeds may, at the option of
<br />Betleficiary. be applied" by Beneficiary upon the Indebtedness, or any part thereof, and in such order erid amount as Beneficiary may
<br />determine; or said insurance proceeds, at the option of Benefc, Ery, may either be used in replacing or restoring the Trust Property
<br />partially or totally destroyed to a condition satisfactory to Beneficiary; or said insurance proceeds, or any portion thereof, may be
<br />released to Truster. Unless Beneficiary and Truster otherwise agree in writing, any such application of insurance proceeds shall not
<br />extend or postpone the due date of the Note, or any installments called for therein, or change the amount of such installments. !f the
<br />Trust Property is acquired by Beneficiary pursuant to the exercise of the power of sale or other foreclosure, all right, title and interest of
<br />Trustor in and to any insurance proceeds payable as a result of damage to the Trust Property prior to the sale or acquisition shall pass
<br />to Beneficiary and shall be applied first to the costs and expenses, including attorney fees, incurred in collecting such proceeds, then
<br />in the manner and in the order provided herein.
<br />8. Preservation and Maintenance of Trust Property. Trustor will keep the buildings and other improvements now or hereafter erected on
<br />the Trust Property in good repair and condition and will not commit or permit waste, will not alter the design or structural character
<br />constituting any building now or hereafter erected on and constituting the Trust Property without the prior written consent of
<br />Beneficiary, will not do any act or thing which would unduly impair or depreciate the value of the Trust Property and will not abandon
<br />the Trust Property. Trustor will not remove any fixtures constituting the Trust Property unless the same are immediately replaced with
<br />like property subject to the lien and security interest of this Deed of Trust and of at least equal value and utility. T.rustrr will comply with
<br />a /lpresent and future ordinances, regulations and requirements of any govemmental body which are ecnl;cable tc the trust Property
<br />and to the occupancy and use thereof. If this Deed of Trust is on a unit in a randaminium cr a planned uAt development, Truster shall
<br />perform all of Trustor s obligations under the declarafions or covenants creating tm- govemir,.g the ccndominium or the planned un.t
<br />development, the bylaws and regulations of the condominium or planned unit devejopmailt, and the coirstituent documents.
<br />9. Inspection. Beneficiary or its agents may, at all reasonable times, enter upon the Trust Fruparty for the purpose of inspection.
<br />Beneficiary shall have no duty to make such inspection and shall net be liable to Trustor er to any person in possession if it makes or
<br />fails to make any such inspection.
<br />10. Protechon of Security. If Trustor fails to perform a;?,• of the covenants and agrtilaments contained in tlfis Deed of Trust, or if ary zi.7un
<br />or proceeding is commenced which does or may adversely aff act the Trust Frupoity cr(lie interest of Trustor or Beneficiary Cher &a or
<br />the title of Taistar thereto, then Beneficiary, at its option, may p!ukrm such covvenants and agreements, make such appearances,
<br />defend against and investigate such action or proceeding and perkier such other action as Beneficiary deems necessary to protect its
<br />interest including, but act f mited to, disbursement of reasonab:'a attorney lees and entry upon the Trust Property to make repair:. Any
<br />amounts disbursed by Beneficiary pursuant to this paragraph 10, with interest thereon, shall constitute Indebtedness of Trus. °v'
<br />secured by this Deed of Trust. Unless Trustor and Beneficiary agree to other terms of payment, such amounts shall be pailab• ,o Jpon
<br />notice from Beneficiary to Trustor requesting payment thereof, and shall bear interest from the date of disbursement at the default rate,
<br />it any, set forth in the Note. or otherwise at the highest rate permitted by law. Nothing contained in this paragraph shall require
<br />Beneficiary to incur any expense or take any action hereunder. Trustor irrevocably authorizes and empowers Beneficiary to enter upon
<br />the Trust Property as Tiustor's agent and, in Trustees name or otherwise to perform any and all covenants and agreements to be
<br />performed by Truster as herein provided. Beneficiary shall, at its option, be subrogated to any encumbrance, hen, claim or demand
<br />and to alf rights and securities for the payment thereof paid or discharged by Beneficiary under the provisions hereof and any such
<br />subrogation rights shall be additional and cumulative security for this Deed of Trust.
<br />It. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or
<br />other taking of the Trust Property, or any part thereof, or for conveyance in lieu of or in anticipation of condemnation, are hereby
<br />assigned to and shall be paid to Beneficiary. Trustor will file and prosecute, in good faith and with due diligence, its claim for any such
<br />award or payment, and will cause rho same to be collected and paid to Beneficiary, and. should it fail to do so. Trustor irrevocably
<br />authorizes and empowers Beneficiary, iii the name of Trustor or otherwise. to file, prosecute, settle or compromise any such claim and
<br />to collect, receipt for and retain the proceeds. If the Trust Property is abandoned by Trustor, or, after notice by Ber,eficiary to Trustor
<br />that the condemnor offers to make an award or settle a claim for damages, Trustor fails to respond to Beneficiary within thirty (30) days
<br />after the date such notice is mailed. Beneficiary is authorized to collect and apply the proceeds in the manner indicated hereln. The
<br />proceeds of any award or claim may. after deducting all reasonable costs and expenses, including attorney fees, which may have
<br />been incurred by Beneficiary in the collection 1110roof, at the sole discretion of Benehciary, be released !:, Trustor, applied to
<br />restoration of Trust Property, or applied to the payment of the indebtedness. Unless Beneficiary and agree rr, .t i rag,
<br />any such application of proceeds to Indebtedness shall not 617r11y or postpone the due cite of the No'e c • of a ^r
<br />Installrnen'N gaged for thereunder.
<br />12 -. 'rustGrl' W Pre/o_ ased. 61&;'ision of the time for Payme_at or r ird• °'cation ci •?; }, amortization of the ind,: `'t -' 1fless gra ^,*Oj by B:•ti 6::ary
<br />ti;. any succ1,MOr in 117i'u911 of Trustor shall not cte -_ a to re.E Y.a :.a any - •� = :! :!tqr, the liability of Truster .a�•d rrus!4,- C S :c€e
<br />rtprE st.• f3ei7r1!iciary sra;i not be retliin gad to cofrrtence prGce sup ; -ys ayair ;;' such s uccc ss or or refuse 'o extend i,,-- fo payrnent or
<br />y
<br />ether s,s,a rstuWlfy amortization of the !i!k4obtedness by reaso, r ,r.any demand mado by Tr• : rw ind Trustor's
<br />succ =_r_ s, fs
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<br />13 Finarreia i&6miahon
<br />Upon request G ^'$erefrc hr}f Tru atpr will provide to Bene'� - -: ary, within ninety (iG :.. t� :/ cf the close of each it; st
<br />year of Trustor,. the consolidated buiance sheer:;: • 1 !'!atomonr of earnings rX T'+rvsfor and any and a;i r +a.-fors of the indeb:e dr.FSs
<br />secured hereby, it any, and will provide and dehvorto Benehciary such ott7sr rriancial information a,-;d • ~sic `, !r3!f'1,Y! as Efere. +.�iEry
<br />may rerasc�m'ab /y request from lime to time
<br />14 Financial Covenants In addition to an y other financial covet; - - .ol Trustor made in an y other agieefnenf, in strt,','r 34'r'.r1- documers;
<br />TruStnr shalt r ramp /y with and shall t.ause an y and all eluarant6rs at the Indebtedness setrrrect hereby to vorrfpfy;-th'�'(Vie u: f
<br />comp'ranre with, the for oewi lrtr,inUNl
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