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<br />insurance premiums, ground rents, and all other charges whatsoever levied upon or assessed, placed or made against the Trust
<br />property. Truster further agrees, upon nyittan request by Beneficiary. to prompts,- deliver to Beneficiary all receipts for the payment of
<br />such chtvgts. Tlusp bkewfse agrees iii pay at; taxes, assyssments and other charges levied upon o► assessed, placed or made
<br />against; bU i 481ordfd by, this Dead 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 T►ustot
<br />may be applied by Beneficiary to the payment of the indebtedness or to any such other debt, lhibility 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 has from all liens and encumbrances which in any way may, in the judgmal ! of
<br />Beneficiary, have priority over, a impair the security of, this Deed of Trust turf Trustor need not discharge any such lien so long as
<br />Trustor shall agree, in writing, to pay the obligation secured by such lien in a manner acceptable to Beneficiary and shall 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 toss by (ire, hazards included in Me term - extended coverage" and
<br />such other hazards, casualties and contingencies as may be required by Beneficiary, hr suclr amounts and tar such periods as may be
<br />required by Beneficiary. The policy of insurance 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 loss payable provisions In favor of and
<br />in form acroptable to Beneficiary. All premiums on insurance policies shall be paid in the manner provided under paragraph 4 hercul
<br />or. it not paid In such manner. by Trustor making payment at least fifteen (15) days prior to the due date, directly to the insurance
<br />camer. Beneficiary s(w /l have the right to hold the policies and renewals thereof and Trustor shall promptly funnsir ro 61cMflnRvy all
<br />renewal notices and all paid premium receipts received by it. In no event shall Beaoficlary or Trustee be helri'r.��ur. •ncahl, N: lurlure to
<br />pay insurance premium'snc for any foss or damage• a /itiing out of a defect in any policy or arising out of any faliulw , y. air,v Twurance
<br />company to pay for any loss or damage insured agailtst or for failure by Trustor to effect the insurance required filitf4jrrrlty-. lip the erent
<br />of loss. Trustor shall give prompt ncbr, 3 by mail to Ihil, Insurance carrier and Beneficiary. Beneficiary may if rat
<br />made promptly or in proper form by' nruJicr. All polfogs of insurance and any and all refunds of unearned plemiugrs are hereby
<br />assigned to Beneficiary as additional security for t11rk payment of the Indebtedness. In the event of BeneUriary'r exercise of the power
<br />of sale contained herein, or in the event of lorecldsufm,. all right, tide and interest of Trustor in and to any insurance policy then in force
<br />shall pass to the purchaser at the trustee's sale or Nruclosure sale. In case of any loss, the insurance proceeds rrray, at the option of
<br />Beneficiary, be applied by Beneficiary upon the Indebtedness, or any part thereof, and in such order and amgzlr ° as Beneficiary may
<br />determine; or said insurance proceeds, at the option of Beneficiary, may either be used in replacing or restoring ;he Trust Property
<br />partially or totally destroyed to a condition satisfactory to Beneficiaty.; cr said insurance proceeds, or any portion (hereof, maY be
<br />released to Trustor. Urt!ess Beneficiary and Trustor otherwise agree in writing, any such application of insurance proceecG stall not
<br />extend or postpone the due date of the Note, or arrq installments called for therein. or change the amount of such Installmen!s: U the
<br />Trust Property is acquired by Beneficiary pursuan: is zha exercise of the poster 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 safe or acquisition shall pass
<br />to Beneficiary and shall be applied it °sr, to the costs and expenses, including attorney fees, incurred in collecting such prec gaits. then
<br />in the manner and in the order provided herein.
<br />8. Preservation and Maintenance of Trust Property. Trustor wig keep the buildings and other improvements now or hereafter erected on
<br />the Trust Property in good repair and co=0`4a and will not commit or permit waste, will not alter the design or stcuctural character
<br />constituting any building now or hereaftga 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 Properly 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 secanty interest of this Deed of Trust and of at least equal value and unllly. Trustor will comply with
<br />all present and future ordinances. re 1idat:ons and requirements of any govemmrenta$ body which are apphcab!e to the Trust Property
<br />and to the occupancy and use thereof. It this Deed of Trust is on a unit in a cendaretaiam o- a planned unit development. Trustor shall
<br />perform all of Trustor's obligations under the declarations or covenants creating or goveming the, condominium or the p:arine4 'it'll
<br />development the bylaws and rerlot&'dnS of the condominium or pfarnted and devr:lopi-rient. arn.lf JP 44rNtill Rt �.,^..°rar:vn�O
<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 manes :r
<br />fails io make any such inspection.
<br />10. Protection of Security. U Trustor fails to perform any of the covenants and agreements contained in this Deed of Trust. or if any a:t.on
<br />or proceeding is commenced which does or may adversely affect the Trust Property or the intereS! of F•uslor or Beneficiary therein cr
<br />the title of Trustor thereto, then Beneficiary, at its opm.9, may perform such convenants and agreements. brake such appearances
<br />defend against and investigate such, action or proceeding and tike such other action as Bemftcia�y° deemi necessary to protect i's
<br />interest including. but not limited to, disbursement of reasonable atr'asney fees and entry upon tk.a Trost Property to make rap nxs Any
<br />amounts disbursed by Beneficiary pursuant to this paragraph 10. wah interest thereon, shall co nslitute Indebtedness of Th;, ?'t.; f
<br />secured by this Deed of Trust. Unless Trustor and Beneficiary agree to other terms of paymen!. such amounts shall be payable upon
<br />notice from Beneficiary to Trustor requesting payment thereof, and shall bear inzarest from the date of a.svursement at the defauit ra:e
<br />if any. set forth in the Note. or otherwise at the highest rate permitted by law. NoMing contained in this parag, aph shall require
<br />Beneficiary to incur any expense or take any action hereunder. Trustor irrevocably authorizes and empowers Beneficiary to enter i.: an
<br />the Trust Property as Tiustor'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 its option, be subrogated 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 sucn
<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. at any pan 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 ter any Bach
<br />award or payment, and will cause sire same to be collected and, piled to Beneficiary, and, sheiJd it fail to do so. Trustor urevocab: y
<br />authorizes and empowers Beneficiary. in the name of Trustor of i;lherwise. to 611J., prosedifle.. settle or compromise any such claim and
<br />to collect. receipt far. aat`rerain the proceeds. It tilt). Twist Property is abandoned by Tnri w, p4 after nonce biz Beneficiary to Trustor
<br />that the condemnorolfei; fainake an award or sellfis aj eldli r. f,lr damages. Truslur tails to'riaspond to Beneficiary within thirty (30) days
<br />after the, data such notice is rr —ilod; Simehciary is bothurizt:d ar'c'ollect and apply the proceeds.rn :he manner indicated herein. T.•re
<br />procauds: of any award or clairh may; elfer deducting all rta'asuni)ble costs and expenses, indlding attorney fees, which may haze
<br />been frlruned by Beneficiary in the collection thereof• at the soie discretion of Beneficiary, bu teii:ased to Trustor• applied to
<br />restoration of Trust Property, the payment of the Indebtedness. Unless Beneficiary and Trustor othenvise agree in writing.
<br />any such application of proceeds lUandebtednes8 :hall not extend or postpone the due date of the Note or the payment of arty
<br />installments called for thereunder.
<br />12. Trustor Not Released. Extension of the time for payment or modification of any amortization of the Indebtedness granted by Benr.`:nai;
<br />to any successor in interest of Trusliar shall not operate to release, in any manner. the hat0ity of riustot and Trustor's successors it
<br />interest. Beneficiary shall not be required to commence proceedings against such successor or refuse to extend time for par meat t
<br />otherwise modify amortization of the indebtedness by reason of any demand mate by Trustor and Ttusrof s successors
<br />in interest.
<br />13. Financial information. Upon request of Beneficiary, Trustor will provide to Bi -leficiary, within niner; :40) days of the close of each h: ,al
<br />year of Trustor• the consolidated balance sheet and statement of earnings of Trustor and any and all guarantors of the Indat h dress
<br />secured hereby, if any, and will provide and deliver to Beneficiary such other financial i bfmaGan and in such manner as Benel'. •J y
<br />may reasonably request from time to limn.
<br />14. Financial Covenants. In addition to any other financial covenants of Trustor made in any o her agreement, instrument or occwn- ^t
<br />Trustor shall comply with and shall cause any and au guarantors of the Indebtedness secured hereby,o comply w,tn or be in
<br />compliance with, the following hnancral covenants: (This paragraph shall not apply if covenants and fvqu ements are no: set
<br />lorlh herein.)
<br />15. Schedule of Leases. Within ten (10) days after demand. Trustor shall furnish to Benefciary a schedule. cend,ed to by T/Uolor- set! n i
<br />forth all leases of the Trust Property, or any portion thereof including in each case. the naine of the terurits or occupants. a des; u:•:.or.
<br />of the space occupied by such tenant or occupant, the rental payable for sack space and such oMc. : ant, JcralY?, 1i!s 1::•1
<br />respect to such leases and tenancies as Beneficiary ill iy reasonably rega&sf
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