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d .. yY .44 90- -107112 TO PROTECT THE SECURITY OF THIS TRUST DEED, TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS 1. PAYMENT OF PRINCIPAL AND INTEREST. Truslor shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, and all other charges and fees as provided in the Note, and the principal of and Interest on any Future Advances secured by this Trust Deed. 2. WARRANTY OF TITLE. Truster is lawfully seized and possessed of good and indefeasible title and estate to the Property hereby conveyed and has the right to grant and convey the Properly: the Properly is free and clear of all liens and encumbrances except liens now of record: and Trustor will warrant and defend the title to the Properly against all claims and demands 3. MAINTENANCE AND COMPLIANCE WITH LAWS. Truslor shall keeplhe Property in good repair and condition and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Trust Deed Is on a leasehold. No Improvement newer hereafter erected upon the Property shall be sitered, removed or demolished without the prior written consentotBaneficiary. Truslor shall comply with all laws, ordinances. regulations, covenants• conditions and restrictions affectingthe Property and noacommit. sutler or permit any act to be done in or upon the Property in violation of any law. ordinance. regulation, covenant. condition or restriction Truslor shall complete or restore promptly and in good workmanlike manner any improvement on the Property which may be damaged or destroyed and pay, when due, all clwinis lot labor performed and materials furnished therefor and for any allerattens fiferf oft 4. INSURANCE. Truster. at its expense, will maintain with insurers approved by Beneficiary. insurance with respect to the improvements and personal property. constituting the properly, against loss by fire. lightning, tornado• and other perils and hazards covered by standard extended coverage Indorsement, - Tin amount equal to at least one hundred percent 1100%1 of the full replacement value thereof and insurance again d such other hazards and in such amounts as is customarily carried by owners and operators of similar properties or as Beneficiary may require for its protection. Trustor will comply with such other requirements as Beneficiary may from time to time request lot the protection by insurance of the interests ol the respective parties. Ali insorance policies maintained pursuant to this Trust Deed shall name Truslor and Beneficiary as insured, as Iwo respective interests may appear. and provide that there be nocatacellation or modification without at least 15 days prior written notification to Trustee and Beneficiary may procure such insurance in accordance wan the provisions of paragraph 6 hereof. Truster shall deliver to Beneficiary the o7iginal policies of insurance and renewals thereof,ar memo coolies of such policies and renewals thereof Failure to furnish such insurance by Truslor. or renewals as required hereunder shall. at 1-�o option of 8enelictary, constitule a default 5. TAXES, ASSESSMENTS AND CHARGES. Truslor shall pay al: taxes, assessments and other charges, including, without limitation, fines and impositions attributable to the Properly and leasehold payments or ground rents, if any, before the same become delinquent. Truslor shall promptly furnish tc'beneficiary all notices of amounts due under this paragraph, and in the event Trustot shall make payment directly, Truslor shall promptly furnish to t9eneficiary receipts evidencing such payments. Truster shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Trust Deed without regard to any law that may be enacted imposing parr'hent of the whole or any pail thereof upon lire Sqx i 1r�idry. B ADDITIONAL LIENS AND PROTECTION OF BENEFICIARY'S SECURITY. Truster shall mak, al! payments of interev and ntlncipal and paymems of any other charges. fees and expenses contracted to be paid to any existing or subsequent lionholdet or benolrcrai'ji under any existing or subsequent mortgage or trust deed before the dale they are delingent or in default, and promptly pay and discharge any and all other bens, claims or charges which may jeopardize the se: unly granted herein If Truslor fails to make any such payment or fails to perform any of ttre covenants and agrMemer.;s contained in this Trust Do-, 1. or the Note referred to herein, or in any prior or subsequen t !f "f deed, or if any action or proceeding is commer. ,zed which materially affects Banehciary•s interest in the Properly. including, but not limifea i:. eminent domain proceec:- ings, proceedings involving a decedent. notice of sale by Trustee, notice of default by Trustee• mortgage foreclosure action• or if Truslor fails to pay Trustor's debts generally as they become due. then Beneficiary. at Beneficiary's option and without notice to or demand upon Truslor and without releasing Truster from any obligation hereunder, may make such appearances, disburse such sums and take such action as is necessary to protect Beneficiary's interest, including, but nor limited to. disbursement of reasonable attorney's fees, payment, purchase, contest or compromise of any encumbrance, charge or lion. entry upon the Property to make repairs, or declaration of default under this Trust Deed. In the event that Truster shall fail to procure insurance or to pay taxes. assessments, or any other charges or to make any payments to any existing or subsequent lienholders or existing or subsequent beneficiaries. Beneficiary may procure such insurance and make such payment, but shalt not be obligated to do so. Any amounts disbursed by Beneficiary pursuant to this Paragraph 6 shall become additional indebtedness of Truslor secured by this Trust Deed. 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 rate payable from time to time on outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable raw. in rvntcn event such amounts shat: bear interest at the highest rate permissible under applicaol e law. Nothing contained in this Paragraph 6 shall roqu,•e Beneficiary to incur any expense or take any aclior, nor ounder 7 ASSIGNMENT OF RENTS. Beneficiary shall nave the right. power and autha• !y during the continuance of this Trust Deed to collect the rents, issues and profits of the Properly and of any personal property located thereon will, or without taking possession of the property affected hereby, and Truslor herebyabsoluteiy and unconditionally assigns all such rents. issues and profits io Beneficiary Beneficiary, however. hereby consents to the Trustor's collection and retention M such rents. issues and profits as they accrue and become payable so long as Truster is not, at such time, in default with respect to payment ofarii, indebtedness secured her era. or in the performance of any agreement hereunder Upon any such default, Beneficiary may at any lime. either ,r. person, by agent, or by a receive• to be appointed by a court, without notice and without regard to the adequacy at any security for the indebtecin ess hereby secured. jai enter upor and take possession of the Property or any pa ^t thereof, and in its car name sue for or otherwise collect sucn •en1s, issues and profits, including those past due and unpaid. and apply the same. leas coats and expenses of operation and collection, including reasonable atto-rey s fees. upon any indebtedness secured hereby. and ." such order as Beneficiary maydoi,91mine. IN perform such acts o' t ovair or protection as may t e necessary or proper to conserve the value orlhe Property' lei lease the same or any wail thereof for such renia.. 1P'm. and upon such condifions i,L its judgment may dictate. or terminate or adjust the terms arc conditions of existing eases. Unless Truster and Beneficiary thereof agree ofr;2: v, se in writing. any application of rents, issues or profits to any indebtedness secured hereby shal. r,:': exion, c • postpone the due date of the r,•stallment payments as provided in said promissory note or change the amount of such installmo,is The entering upon and taking possession of the Property the collection of such rents. issues and profits. and the application thereof as aforesa r shall not waive or cure any default or notice of default hereunder or invalidate any act done pursuant to such notice- Truslor also assigns to Bentificiary as further security for the performance of tt a ebh„arions secured hereby. all prepaid rents and all monies which may have been or may nerealietce ;ecosited with said Truslor by any lessee of tyre Property. to secure the payment of any rent :•- damages. or upon delault in the performance of anir 'A the provisions hereof T •..star agrees t,� deliver sucn rents and deposits to Beneficial v Delivery of written notice of Benef•c•aty sexefcise of tnerrghls grantedherern. to any tenant cccuovrngsaid premises shall be sufiaaentio regi:lre said tenant to pay rent to the Beneficiary untai further nonce �nux.euu��rnu n !!n. x.. ,,,,. "'I'm ma P,. no,rj cnau r.,t rakwn in rnndemnat,c° -o•oceed nas nv runt of eminent domain or similar action. or shall be sold under threat of condemnat,an as awaras damages and proceeds ar,E, ^erect' ass griea and shah be paid to Beneficiary who shall apply such awards. damages and proceeds to the sum secured ov fn,y Trust Deed + -trt the excess IF any. paid to Truster If Trustor receives any notice or other .nformar.on regard -ng Sucn acuuns or orocee j,1-; rru5h5r ^4., v e ptomot wntten notice thereof to Beneficiary Beneficiary shall be shirt led ar ,r: nprion to commence nopear.n and proseci.r•, � f-*,, ar-v such action or proceedings and shall be "filled to make any comprom,ae or settlement m connecbc l a th any such action ,u 9 FUTURE ADVANCES. Upon request of Truslor Beneticiary at Beneficiary s option prior to rpconveyance of the Property to Trustor may make future advances to Truslor Such future advances. with,rilemsIthereon shnitbes eculpdbvthrst rust Deed when evidenced bypromissory notes Stating that said notes are secured hereby provided that at no t.me shall the %otuird pr-or opal and future advancos not ini'iudmq sums advanced to protect the security, exceed two hundred percent 1200 1.f of the original prinripar amounts secured heiuby E,_ W-- •'ly � . •` rsr - 4d� _ .rr TW7 I T , ri r -r•� - ,... i�r, 61 i i i L.y i