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lasuranc9. pramirrms, ground rents, and aN othe►charges
<br />whatsoever levied upon or assessed, pleceykade agalast the Trust
<br />-- m ertc- Eeneciary a/1 reV1Dm �4►�@.Psyment of _
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<br />iwiiiw es. Trtrstioir likewise agrees spay sllt�es. assssanrertt s -and other eharges fevred upon or messtaed by. this Deed of Trustor the recordation hereof. of Payments. AN payinents received by Benolk:iary as to arty debt, Mobility or obligation owed to Benefirdary bar Trustor
<br />plied by Beneclary ro the payment of the indebtedness ar ro any pro such
<br />pifatee Unlessrolhe�se obligadw, In any Order or by Bens ciary, any pplicetiar vrhkh Bermefrciary, In its absolute discretion, deems approp entshaft tie deemed applied•Tirst its the payment of any debt.Jiati ft or obligation other than, the Note.
<br />8. Charges; aliens Trustor WhV keep the Thrst property free from all Ions and encumbrances
<br />which in any way may. fn the judgment of
<br />Benefi imy, have priority over. or Impair the security of, this Deed of Ttust but Trustor need not discharge any such lien so long as`'.
<br />TnXW shall agree. in writing, to pay the obfrgaffon secured by such lier�ae�c�t of the lien and the lo� oandshall In goad
<br />contest such ken by epprolxfate legal proceedings effective to prevent
<br />pot of the Trust Property,
<br />7. Hazard lnstirance . Trustor shall keep the buildings and other improvements now existing orhereafter erected on the Trust Property
<br />Hazadd M insurance carriers satisflactory wBoneficiary against low 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 perfods as may be
<br />ne pgrod byBenefrclary. The polky of insurance shall be Inform acceptable to Beneficiary, provide that the same may not be
<br />caw~ or nxxMod without Moen (15) days prior wfMn notice to Beneficiary. and shall have loss payable provisions In Asvor of and
<br />in form acceptable to Beneficiary. An premiums on Insurance policies shall be paid in the manner provided under paragraph 4 hereof
<br />or, ff not paid in such manner, by Tmstor making payment at least fifteen (15) days prior to the due date, directly to the Insurance
<br />carrier. Beneficiary shalt have do right to hold the poikles and renewals thereof and Trustor shall promptly furnish to Beneficiary all
<br />renewal rwtices and all paid premium receipts received by it. in no event shall Beneficiary or Trustee be held responsible for failure to
<br />payinsurance premiums or for any loss or damage arising out of a detect in any policy or arising out of any failure of arty insurance
<br />company to pay for any loss or damage insured against or for failure by Trustor to effect the insurance required hereunder. In the event
<br />Of loss, Tiustbr shall give prompt notice by mail to the insurance carrier and Beneficiary . Beneficiary may make proof of loss if not
<br />made promptly or in proper form by Trustor. Ail policies of insurance and any and all refunds of unearned premiums are hereby
<br />assigned to Beneficiary as additional security for the payment of the indebtedness. in the event of Benet7clary's exercise of the power
<br />of sale contained herein, or in the event of foreclosure, 811 14111 dt/a and interest of Trustor in and to any insurance policy then fn brca
<br />shelf pass ro the purchaser at the trustees sale or foreclosure safe. In case of any loss, the Insurance proceeds may, at the option of
<br />Beneficiary, be applied by Beneficiary upon the Indebtedness, or any part thereof, and In such order and amount as Beneficiary pe may,
<br />determine; or said Insurance proceeds, at the option of Beneficiary, may either be used In replacing or restoring the Trust Praperty
<br />partlalty or totally destroyed to a condition satisfactory to Beneficiary; or said insurance proceeds, or any portion thereof, may be
<br />released to Trusrot Unless Beneficiary and Trustor otherwise agree in writing, any such application of insurance proceeds shall not
<br />_ _— __ extenat er r�ostporme time due date of the Note, or any fnstaliments called for therein, or change the amount of such installments. If the -
<br />Trust Property Is acquired by Beneficiary pursuant to the exercise of fhe power of sale or olherloreciosure, all right, titfs 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 Benefciary and shall be applied first ro 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 after the design or structural character
<br />any building now or hereafter erected ted on and constituting the Trust Property without the prior written consent of
<br />Beneficiary, will not do any actor 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. Trustor will comply with
<br />all present and future ordinances, regulations and requirements of any governmental body which are applicable to the Trust Property
<br />and to the occupancy and use thereof if this Deed of Trust Is on _a unit In a condominium or a planned unit development, Trustor shall
<br />perform all of Trustor's obligations under the declarations or covenants creating or governing the condominium or the planned unit
<br />development, the bylaws and regulations of the condominium or planned unit development, and the constituent documents.
<br />9. Inspection. Beneficiary or its agents may, at all reasonable times, enter upon the Trust Property for the purpose of inspection.
<br />Beneficiary shall have no duty to make such inspection and shall not be liable to Trustor or to any person in possession if it makes or e
<br />fails to make any such inspection.
<br />10. Protection of Security.lf Trustor fails to perform any of the covenants and agreements contained In this Deed of Trust, or if any action
<br />or proceeding is commenced which does or may adversely affect the Trust Property or the interest of Trustor or Beneficiary therein or
<br />the title of Trustor thereto, then Beneficiary, at its option, may perform such covennants and agreements, make such appearances,
<br />defend against and investigate such action or proceeding and take such other action as Beneficiary deems necessary to protect its
<br />interest Including, but not limited to, disbursement of reasonable attorney fees and entry upon the Trust Property to make repalfs. Any .
<br />amounts disbursed by Beneficiary pursuant to this paragraph 10, with interest thereon, shall constitute Indebtedness of Trustor
<br />secured by this Deed of Trust. Unless Trustor and Beneficiary agree to other terms of payment, such amounts shall be payable upon
<br />notice from Beneficiary to Trustor requesting payment thereof, and shall bear Interest from the date of disbursement at the default rate, i
<br />if 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 Trustor's agent and, in Trustor 's name or otherwise to perform any and all covenants and agreements to be
<br />performed by Trustor as herein provided. Beneficiary shall, at ft option, be subrogatied to any encumbrance, lien, claim or demand
<br />- and to all rights and securities for the payment thereof paid or discharged by Beneficiary under the provisions hereof and any such
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<br />subrogation rights shall be additional and cumulative security for this Deed of Trust.
<br />11. 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 the same to be collected and paid to Beneficiary, and, should it fail to do so, Trustor irrevocably
<br />authorizes and empowers Beneficiary, in 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 Beneficiary 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 herein. The
<br />proceeds of any award or r-talm may, after deducting all reasonable costs and expenses, including attorney fees, which may have
<br />been incurred by Beneficiary in the collection thereof, at the sole discretion of Beneficiary, be released to Trustor, applied to
<br />restoration of Trust Property, or applied to the payment of the Indebtedness. Unless Beneficiary and Trustor otherwise agree in writing, -_
<br />any such application of proceeds to indebtedness shall not extend or postpone the due date of the Note or the payment of any
<br />rnsrafiments called for thereunder.
<br />,12. Trustor Not Released. Extension of the time for payment or modification of any amortization of the Indebtedness yrdnled by Genefkdary
<br />to any successor in interest of Trustor shall not operate to release, in any manner, the liability of Trustor and Trustor's successors in
<br />interest. Beneficiary shall not be required to commence proceedings !against such successor or refuse to extend time for payment or
<br />otherwise modify amortization of the indebtedness by reason of any demand made by Trustor and Trustor's successors
<br />In interest
<br />13 Financial Information. Upon request of Beneficiary, Trustor will provide to Beneficiary, within ninety (90) days of the close of each fiscal
<br />year of Trustor; the consolidated balance sheet and statement of earnings of Trustor and any and all guarantors a> fire Indebtedness
<br />secured hereby, if any, and will provide and deliver to Beneficiary such other financial information and in such manner as Beneficiary t .
<br />may reasonably request from time to time.
<br />• 14. Financial Covenants. In addition to any other financial covenants of Trustor made in any other agreement. instiltment or document.
<br />Trustor shall comply with and'shall cause any and all guarantors of the indebtedness secured hereby to comply with, or be,n ;
<br />compliance wilh,.the fa/iow/ng" financial covenants: (This paragraph shall not apply it covenants and requrements are not set ...
<br />forth herein.)
<br />15. Schedule of Looses. Within ten (10) days after demand, Trustor shall furnish to Beneficiary a schedule, certified to by'Trustor' setting
<br />forth all (cases of the Trust Property, or any portion thereof. including in each rash, the name of the tenants or oceunants. a description
<br />of the spaco occupied by such tenant or occupant, the rental payable for such space. and such Other informativil and documents with `
<br />respect to such leases and tenancies as Beneficiary may reasonably request _Jf
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