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202106164
<br />the Property, and shall comply with the provisions of any lease if this Trust Deed if on a leasehold. No
<br />improvement, now or hereafter erected upon the Property, shall be altered, removed, or demolished
<br />without the prior written consent of Beneficiary. Trustor shall comply with all laws, ordinances,
<br />regulations, covenants, conditions, and restrictions affecting the Property and not commit, suffer, or
<br />permit any act to be done in or upon the Property in violation of any law, ordinance, regulation, covenant,
<br />condition, or restriction. Trustor shall complete or restore, promptly and in good workmanlike manner,
<br />any improvement on the Property which may be damaged or destroyed and pay, when due, all claims for
<br />labor performed and materials furnished therefor and for any alterations thereof.
<br />4. INSURANCE. Trustor, at its expense, will maintain, with insurers approved by
<br />Beneficiary, insurance with respect to the improvements and personal property, constituting the Property,
<br />against loss by fire, lightning, tornado, and other perils and hazards covered by standard extended
<br />coverage endorsement, in an amount equal to at least one hundred percent (100%) of the full replacement
<br />value thereof and insurance against such other hazards and in such amounts as is customarily carried by
<br />owners and operators of similar properties. All insurance policies maintained pursuant to this Trust Deed
<br />shall name Trustor and Beneficiary as insured, as their respective interests may appear, and provide that
<br />there be no cancellation or modification without at least 15 days' prior written notification to Trustee, and
<br />Beneficiary may procure such insurance in accordance with the provisions of paragraph 6 hereof. Trustor
<br />shall deliver to Beneficiary the original policies of insurance and renewals thereof or memo copies of
<br />such
<br />policies and renewals thereof. Failure to furnish such insurance by Trustor or renewals as required
<br />hereunder shall, at the option of Beneficiary, constitute a default.
<br />5. TAXES, ASSESSMENTS, AND CHARGES. Trustor shall pay all taxes, assessments,
<br />and other charges, including, without limitation, fines and impositions attributable to the Property and
<br />leasehold payments or ground rents, if any, before the same become delinquent. Trustor shall promptly
<br />furnish to beneficiary all notices of amounts due under this paragraph and, in the event Trustor shall make
<br />payment directly, Trustor shall promptly furnish to Beneficiary receipts evidencing such payments.
<br />Trustor shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or
<br />upon this Trust Deed without regard to any law that may be enacted imposing payment of the whole or
<br />any part thereof upon the Beneficiary.
<br />6. ADDITIONAL LIENS AND PROTECTION OF BENEFICIARY'S SECURITY.
<br />Trustor shall make all payments of interest and principal and payments of any other charges, fees, and
<br />expenses contracted to be paid to any existing or subsequent lienholder or beneficiary under any existing
<br />or subsequent mortgage or trust deed before the date they are delinquent or in default, and promptly pay
<br />and discharge any and all other liens, claims, or charges which may jeopardize the security granted
<br />herein. If Trustor fails to make any such payment or fails to perform any of the covenants and agreements
<br />contained in this Trust Deed, or the Note referred to herein, or in any prior or subsequent trust deed, or if
<br />any action or proceeding is commenced which materially affects Beneficiary's interest in the Property,
<br />including, but not limited to, eminent domain proceedings, proceedings involving a decedent, notice of
<br />sale by Trustee, notice of default by Trustee, mortgage foreclosure action, or if Trustor fails to pay
<br />Trustor's debts generally as they become due, then Beneficiary, at Beneficiary's option and without notice
<br />to or demand upon Trustor and without releasing Trustor from any obligation hereunder, may make such
<br />appearances, disburse such sums, and take such action as is necessary to protect Beneficiary's interest,
<br />including, but not limited to, disbursement of reasonable attorneys' fees, payment, purchase, contest, or
<br />compromise of any encumbrance, charge, or lien, entry upon the Property to make repairs, or declaration
<br />of default under this Trust Deed. In the event that Trustor shall fail to procure insurance or to pay taxes,
<br />assessments, or any other charges or to make any payments to any existing or subsequent lienholders or
<br />existing or subsequent beneficiaries, Beneficiary may procure such insurance and make such payment but
<br />shall not be obligated to do so. Any amounts disbursed by Beneficiary pursuant to this Paragraph 6 shall
<br />become additional indebtedness of Trustor secured by this Trust Deed. Such amounts shall be payable
<br />upon notice from Beneficiary to Trustor requesting payment thereof and shall bear interest from the date
<br />of disbursement at the rate payable from time to time on outstanding principal under the Note unless
<br />payment of interest at such rate would be contrary to applicable law, in which event such amounts shall
<br />bear interest at the highest rate permissible under applicable law. Nothing contained in this Paragraph 6
<br />shall require Beneficiary to incur any expense or take any action hereunder.
<br />7. ASSIGNMENT OF RENTS. Beneficiary shall have the right, power, and authority
<br />during the continuance of this Trust Deed to collect the rents, issues, and profits of the Property and of
<br />any personal property located thereon with or without taking possession of the property affected hereby,
<br />and Trustor hereby absolutely and unconditionally assigns all such rents, issues, and profits to
<br />Beneficiary. Beneficiary, however, hereby consents to the Trustor's collection and retention of such rents,
<br />issues, and profits as they accrue and become payable so long as Trustor is not, at such time, in default
<br />with respect to payment of any indebtedness secured hereby, or in the performance of any agreement
<br />hereunder. Upon any such default, Beneficiary may at any time, either in person, by agent, or by a
<br />receiver to be appointed by a court, without notice and without regard to the adequacy of any security for
<br />the indebtedness hereby secured, (a) enter upon and take possession of the Property or any part thereof
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