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ACE x_..105970 Insurance premiums, ground rents, and all other charges whatsoever Invled upon or assessed, placed or made against the Trust Property. Trustor further agrees, upon written request by Beneficiary, to promptly deliver to Beneficiary all receipts for the payment of such charges. Trustor likewise agrees to pay all taxes, assessments and other charges levied upon or assessed, placed or made against, or measured by, this Deed of Trust or the recordation hereof. 8. Application of Payments. All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor may be applied by Beneficiary to the payment of the Indebtedness or to any such other debt, liability or obligation, in any order or manner of application which Beneficiary, In its absolute discretion, deems appropriate. Unless otherwise elected by Beneficiary, any such payment shad be deemed applied first to the payment of any debt, llability or obligation other than the Note. B. Charges; Lions. Trustor will keep the Trust Property free from all liens and encumbrances which in any way may. In the judgment of Beneficiary, have piddly over, or impair the security of, this Deed at Trust but Trustor need not discharge any such Ilan so long as Trustor shall agree, in writing, to pay the obligation secured by such Ilan in a manner acceptable to Beneficiary and shall In good faith contest such lien by appropriate legal proceedings effective to prevent the enlorcenwnt of the lien and the loss of any Interest in or part of the Trust Property, 7. Hazard Insurance. Trustor shall keep the buildings and other Improvements now existing or hereafter erected on the Trust Property Insured by insurance carriers satisfactory to Beneficiary against loss by fire, hazards included In the term "extended coverage" and such other hazards, casualties and contingencies as may be required by Beneficiary In such amounts and for such periods as may be required by Beneficiary. The policy of insurance shall be in form acceptable to Beneficiary, provide that the same may not be cancelled or modified without fifteen (15) days prior written notice to Beneficiary, and shall have loss payable provisions in favor of and in km acceptable to Beneficiary. All premiums on insurance po&*s shat be paid in the manner provided under paragraph 4 hereof or, it not paid in such manner, by Trustor making payment at least MWen 05) days poor to the due date. directly to the insurance carrier. Beneficiary shag have the right to hold the policies and renewals thereof and Trustor shall promptly furnish to Beneficiary all renewal notices and all paid premium receipts received by it. In no event shall Beneficiary or Trustee be held responsitoa for lailure to pay Insurance premiums or for any loss or damage ansing out of a defect in any poitcy or ansrng out of any failure of any i,=rance company to pay for any loss or damage insured against or for failure by Trustor to eflect the insurance required hereunder. in the event of loss, Trustor shall give prompt notice by mail to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made promptly or in proper Than by Trustor. All policies of insurance and any and al) refunds of unearned premiums are hereby assigned to Beneficiary as additional secardy for the payment of the Indebtedness. In the event of Beneficiary's exercise of the power of sale contained herein, of in the event of foreclosure, all right, title and interest of Truster to and to any insurance policy then in force shall pass to the purchaser at the trustee's sale or foreciosure sale. In case of any loss, the insurance proceeds may, at the option of Beneficiary, be applied by Beneficiary upon the Indebtedness, or any part thereof. and in such order and amount as Beneficiary may determine, or said insurance proceeds, at the option of Beneficiary, may either be used in replacing or restoring the Trust Property partially or totally destroyed to a condition satisfactory to Beneficiary; or said insurance proceeds, or any portion thereof may be released to Trustor. Unless Beneficiary and Trustor otherwise agree in writing, any such application of insurance proceWs shall not extend or postpone the due date of the Note, or any installments called for therein, or change the amount of such Instaltmems. i/ the Trust Property is acquired by Beneficiary pursuant to the exercise of the power of sale or other foreclosure. all right, title and interesr ,0 Trustor in and to any Insurance proceeds payable as a result of damage to the Tiust Property prior to the sale or acquisition shall pass to Beneficiary and shall be applied first to the costs and expenses, including attorney fees, incurred in co/w::rng such proceeds, theca in the manner and in the order provided herein. 8. Preservation and Maintenance of Trust Pruperty. Trustor will keep the buildings and other improvements now or hereafter erected on the Trust Property in good repair and condir on and will not commit or permit waste, will not alter the design or structural character constituting any building now or hereafter erected on and constituting the Trust Property without the prior written consent of Beneficiary, will not do any act or thing which impair 4.•' would unduly or depreciate the value of the Trust Properly and will not abandcrt the Trust Property. Trustor will not remove any fixtures constituting the Trust Property unless the same are immediately regaaced wien t like property subject to the lien and security interest of this Deed of Trust and of at least equal value and utility. Trustor wr, ' comp ►y w7h f all present and future ordinances, regulations and requirements of any governmental body which are applicable to the rr.;st Property and to the occupancy and use thereof. II this Deed of Trust is on a unit in a condominium or a planned unit development. Trustor shah perform all of Trustor's obligations under the declarations or covenants creating or governing the condominium or the planned unit development, the bylaws and regulations of the condominium or planned unit development, and the constituent documents. 9. Inspec7lon. Beneficiary or its agents may, at all reasonable times, enter upon the Trust Property for the purpose of inspection. _y Beneficiary shall have no duty to make such inspection and shall not be liable to Trustor or to wiv person in possession if it makes or Ism fails to make any such inspection. 10. Protection of Secunly. It Trustor falls to perform any of the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is commenced which does or may adversely affect the Trust Property or the interest of Trustor ar Beneficiary therein or i the title of Trustor thereto, then Beneficiary, at its option, may perform such convenants and agreements, make such appearances, defend against and investigate such action or proceeding and take such other action as Beneficiary deems necessary to protect its interest including, but not limited to, disbursement of reasonable attorney lees and entry upon the Trust Property to ma &ca repairs. Any amounts disbursed by Beneficiary pursuant to this paragraph 10, with Interest thereon, shall constitute Indebtedness of Trustor secured by this Deed of Thus!. Unless Trustor and Beneficiary agree to other terms of payment, such amounts shall be payable upon notice from Beneficiary to Trustor requesting payment thereof, and shall bear interest from the date of disbursement at the default rate, ;. it any, set forth in the Note, or otherwise at the highest rate permitted by law. Nothing contained in this paragraph shall require Beneficiary to Arar any expense or take any action hereunder. 7 rusor irrevocably authorizes and empowers Beneficiary to enter upon the Trust Propeal as Trustor's agent arid. ;n Trustor's name or OW-„use to perform any and ,aa covenants and agreements to be performed by Trustor as herein piov:•ded. Beneficiary s.!hal,: at its option, be subrogated to any encumbrance, lien, claim or demand and to all rights and securities / r sere payment thereof r. or discharged by Beneficiary under the provisions hereof and any such subrogation rights shall be ache ; .-ional and cumulative security for this Deed of Trust. 11. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or Other taking of the I ,*ust Property. or airy n•art thereof, or for conveyance in flau of or in anbcrnation of condemnation, are':croby assigned to and .,hall be paid to Beneft,a'y;. Trustor.W.•lr He and prosecute, in good faith and with due drkgence, its claim for any such award or payment, and will cause the same to be collE+c�-.d and paid to Beneficiary. and, should it fail to oka so, Trustor irrevocably aWNonzes and empowers 13'enelic►ary, in the name Of rir.stor or otherwise, to file, prosecute. settle or compromise any such claim and M .vf/ran► a'nwdn► M. w.•/ ...�e.� �1..... ....I- is u.- r- , n_ WI/. •./. W../ ,V.W• t„V �WOQV.I. .. ,..a ..vat r-rufAncy M avaFILY Jriffu uy Trustor. Or, arter nonce by rienenctary, to Trustor that the condemnor offers to make an award or settle a claim for damages. Trustor lads to respond to Benelrciary within thirty (30) days i alter the date such notice is mailed. Beneficiary is authorized to collect and apply the proceeds in the manner indicated herein. The proceeds of any award of claim may, after deducting all reasonable costs and expenses. Including attorney lees, which may have been Incurred by Beneficiary in the collection thereof, at the sole discretion of Beneficiary. be released to Trustor, applied to restoration of Trust Property, or applied to the payment of the Indebtedness. Unless Beneficiary and Trustor otherwise agree in writing. any such application of proceeds to indebtedness shall not extend or postpone the due dr,!e of the Note or the payment of any _ installments called for thereunder. 12. Trustor Not Released. Extension of the time for payment or modification of any amortization of the Indebtedness granted by Beneficiary to any successor in interest of Trustor shall not operate to release, in any manner, the habdit y of Trustor and Trustor's successors in interest. Beneficiary shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the Indebtedness by reason of any demand made by Trustor and Trustor's successors In interest. 13. Financial Information. Upon request of Beneficiary. Trustor will to Beneficiary. provide within ninety (90) days of the close of each fiscal year of Trustor, the consolidated balance sheet and statement of earnings of Trustor and any and all guarantors of the Indebtedness secured hereby, it any, and will provide and deliver to Beneficiary such other hnancral information and in such manner as Beneficiary may reasonably request from time to time. 14. Financial Covenants. In addition to any other financial covenants of Trustor made in any other agreement. Instrument or oocument. Trustor shall comply with and shall cause any and all guarantors of the indebtedness secured hereby to comply with. or be in compliance with, the fallowing financial covenants, (This paragraph shall not apply d covenants and requirements are not set forth herein.) ~ " IS. Schedule of Leases. Within ton (10) days after demand. Trustor shall furnish to Beneficiary a schedule. certified to by hustot. setting forth all leases of the Trust Property, or any portion thereof, Including In each case, the name of the tenants or occupants. a descrinhun Of the space occupied by such tenant or occupant, the ren ►a► payable tot such space. and such other Information and documents with respect to such leases and tenancies as Beneficiary may reasonably request