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<br /> ' " 2. Peyment of brQsDMrJ:ress• Tiustor shaU Arcmptly p�y o�causv to ba paid wApn due the Obligatiorts and a!1 othei indebtedness. 7�e
<br /> Trusto�sha11 also prompily and faithfuliy oDserve a1101�ts obJigatians urrde�any other deed o�trusr encumDenng-l1 or part ol the Tr,,st ,
<br /> Propert y and,i)applicabte.ony promissory note,guaranty,a other tem+ol contractual rndebredness secured by such otAer deed ot trust.
<br /> wherher�unior or senia to tha/ien o1 this Deed af Trust,and any othe�obGgatrons secured by a Jien on tha Tnu1 Praperty.whether a►rs�ng
<br /> , " cansensuall�o�by oReratron of 1aw.
<br /> � � 3. Consiruction o1 lmEvovemenfa. .Trusror shal!complete rn gooD snd v�o�hmarrl+ke manne�any bu�lQings,�mprovements or reRaus ietaRrtg
<br /> •. j � thereto whrch may tra Qegun on the Trust Propeny or contem�ptated Dy tAe OtrL�gations secund hereby,Po Fay vrrten due all eost�a�d
<br /> freD�7ities irtcuned therefo�and not to F2rm+t 8ny cortsttuction/i8n egainst SutA Trust ProFertV• !n the event tonsbuctron of trurldmgs,
<br /> � � 7 � rmprovements o�reFa�rs aro contemplated,Trosto�elso agrees,anyrhir.g i.n this OeaO of Trust!o tho conirary notwithstanding:lal ta
<br /> � � pr�mptly commente any sucA watk ortd ro eompJete thr�piopased imp�ovements promptly,lb)to compfete rhe same in accoidaito w�tA the
<br /> � plans and specifrtairor+s�s aPRra�ed by Benefrcrary,lel to compty with t7U Ma terms of a buildmg loan agreement.if an y,tretween Yius[or
<br /> _ _. � and Bene/ic+ary,the terms o1 v✓hicA sre mtoiporated Aerein by�efe�ence and mada a part Reieo/,/d/m a/low Benafrr.rary to+nspect tAe Tiust L�
<br />—_._ - _ -_ � � �p��yy a�sy�s�rrng eonstructicn,anA!eJ m repJace 8ny work or materia/s unsatisfactory to 8eneticiary w�thiri/iJteen/I51 days alter
<br /> �iritf¢n nonce lrom 8eneficinry of such/ect �
<br /> _ : "" � 4. Fernds fa�Peymanr of C!iargas.11 reqaested ot any time or lrom time to Ume by the Benefrciory, Tiustor sAall pay to Benefiva�Y Qn tAe
<br /> fi�sr da y of each montA,o�such otAer date each month as may he specihed by Benerciary,unri!the ODligar;ons are paid in tull,a sum
<br /> ,.'_-� . � (hereinafter the'Funds'1 e0ua!to 1/12th ot the yearly taxes and assessments which may att2in Rnority over Mis Deed o/Tiust end ground
<br /> rents an the Tiust PropBrty,i1 any,p/us 1/T2th ol the yea�ly premium installments for hazaid rnsurance,plus f/l2th ol tAe yearfy premium
<br /> instaUments for moRgage rnsuranse,�f any,ell as�easonaDly esti�nated initia!!y end Irom trma to Gme by Beqefrciary on the Dasis o1 ,_
<br /> a4sessments sr+d bi1JS and reasanaQle estimates Mereaf TAe Funds shall tre helrJ in an institution,th3 d8po:its al�ttounts of whicA ere __
<br /> rasared ar guaranteed 6y a federal or state ageney including Benefrtiary. Bene!"rciary shall aFMY�he Furrds to Fay said taxes,assessments, Ife::_.
<br /> insrrrence premiums and grourtd rents.8eneficisry shap not be required to pay Tnator any iarerest or eamings on the Frmds.BeneTciary sha0
<br /> give to Tiusto�wit�'rout ch8rge,en annuaf accounting of the Fuads showing credits and debits to the Ponds and tAe pur�osa tor v�hiah each �_'
<br /> , ,, � ?�_ debit to the FimOs vias made. The Funds are pledged as addiuoaal sesuritV/a the ObJigaaaas secured by this Deed of Tnist./f the amaunt �;
<br /> '. of the Funds hefd Dy Benefrciary,ta9ether wiih rha tuture manthly instaf/ments of Fvnds payaDle prior to the due dates of taxes, _
<br /> • �c assessments,insurence p�emiums and praund rents,shaD exceed the amount requrred to pay said taxes,asse.:sments,insurance p�smiums `j.
<br /> and ground�ents as they fal!due,s�reh excess sha/l be,at Tiustofs option,either promptry repaid ta Tius[o�o�credited to Fiustor agornst __
<br /> + future monthry insiallments ol funds.lf Ure amount of tha funds held by 8eesrciary shall not be sof/icisnt to pa y taxes,assessment�, 6:_
<br /> � rrtsu�arrce premiums aad ground rents as they/al/due, Tiustor shall pay to Beneficiary any amount necessary to make up the defrciency E.-_
<br /> v�thin thirty days from the dats norice is mailed by BeneficJary to Tiusto�repusstlng payment thereof.URon paymeni in fufl of a0
<br /> � ' 001igatio»s,BeneTrciary shall promptly iefund to Tiustor any Funds held by 6enefrtiary•!f the Tiust Properry is sold under the power of sa/e �
<br /> ��� or tAe Tiust PraRerty+s othenvise acqui�ed hy l3errefrciary,Ben3frciary shBQ apRdiG immediate/y prtor to the sale of the Trust Property o�its
<br /> , � 1 acquisition by Qe►refrciary,any Funrls hetd by B�:efrc;ary at ihe time of app/icaucn as a credit agairtst the Ob�igations.I18enefieiar!!ex¢urtes ��_
<br /> a written waiver af Tnrsiors ohlipaaons under ehis Sect;on, Trustor covertan�ar.d agrees to pay,bafore the sama became delinquent,e!i - -
<br />" . � � taxes,assessments,insurance premiums,ground rEnts,and a/1 orher charges whaisoever levied upon or assessed,placed or made ayainsr ��
<br /> dra Tiust f'ioperty. Tiusiar further agrees,upon written requc�t Dy 8enefrciary,[o promptfy deliver to deneficiary all recelpts to�the payrcnenr
<br /> . �� �<<; ; oJ such charges. Tiustui lr7revdsrr agrees to pay aH taxes,ass�xsments and other eharges le�ried upon or assesse�placcd o�made agoinst, � �_
<br /> , � : er-neasured by,this Deed of Tiust or the recordatio»hereoL (
<br /> � 5 App&estfon af Peymanis.All pa yments received hy 8enefrciary as to any deDr,liabi7ity or ohligarion owed to Benefrciary by Trrr��o�ma y
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<br /> � ba ap�lied Gy BEneTciary to tha payment o!tho Obligatinns rn any orde�or manner o1 epPlicetion which BErcFsiary,in it�absalute ditcretion, �`.
<br />� 'J deems apRropriate. _ -
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<br /> " � 8. Cha�ges;Uens.Tiustor�•r�1!keep ihe Tnrs�PiopertY tree from a/l liens and e�umbrdntes, wAether prior or subad;nete to this l�sed o1
<br /> , Trust,other than the/ien of cvm�t real estate taxes 8nd insta/lments ol olrcial assessments with respect tn which no penalry is yat
<br /> ° --�'� paya6/e:provided,however,:irur Trustor aeed nat disehargs any such lien so Iong as Tiustor shall agree in writing,to pay tha obli�plron
<br /> : . , ;, . seeured by snch Jien in a mar...er acceptaDle to Beneficiory and shall in good laiM conrest sueh lien 6y appmpriate legal prateedinQs afi`ectrve
<br /> _ . • �;{ '� to prevent the Fs+fortemene of Me lien or Me loss o/any interest in or part of tAe Tiust Property,and shal!a'so grva such reasonaQle aecurrry
<br /> , ' ,•�3;f ,, ro Beneficrary ss rnay b3 dernanCed by Benefitiary to insure compliance thcrrewith. The Benefrciary may�n�5 sole discretion defand INe lisa
<br /> , �.�.. o/this Deed of Tiusr and a:1 v:sts and attomeys'tees incnrred by BeneT,ciary in said defe�+se shall be rerm�r:rsad by Trusror oi addad to tha
<br /> �.; • r' Obligations.
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<br />- srY}���4� P. Dlazord lnsurance• Trus:�"�'.ua�kesp the buildrn�s and clhG•improvements now exisa�::=�hereaher erecfed on ihe r�ru.tr PreFQnY =...
<br /> ��;"S/.�' �,.. . ,rr�red 6y lnsurance carrlers r•�rca�ctory to Benefivary ap��r�t lnss by Tre,hazards inGu�1`a:�r. .:'e term extended cat-r�Kar-"and such
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<br /> • • r• •amer hazards,casualtres and contingencles,mclud;ng war�a3e insurance as may tre,�:nar�'by BeneC,ciary,in suc?r mn;antJ and or
<br /> � • �9�t ' such perieds As may ba required 6y BanaTielary. 7he palicY o��nsnrance shal!b8 in farm ax„=�:��e to 8ea:`ci8ry and sna;i not ton►.7f�a
<br /> 5'�': defense based an cumsu�ance,and shaH eoneain rhe startdard Dfov+sion that no act of Urs BEneficJary os c1 r!°�Benaficiary's agenra o�
<br /> �' representatives wrUrender the palicy voi�as to the Baneficiary o�aNect the Beneficiary's right to recocc..r-nc;sse ollvss,and thn poliaY or
<br /> pnlicies sha/l provi�e that the same may nat tre CBnceled o►medified without rfteen 1151 days pnor wr.�r:���tice to BaneTrciary,and have
<br />_ �: /oss payabte provisinns in/avor ot and in farm ecceptabla to Baneficiary.A/1 premiums on insurance po/icres sha/l be paid in tAo mnnner
<br /> �f• provided under the Section entiNed'Funds tor Payment ol Charges"he�ein or,ifnot paid in such manner,by Trustor making peymont at
<br /> ' teast frltes»1�5/days prior to the due Gate,directty to tha insurance career.Be�rerc/ary sA�:l yjave rha right to ho/d the polrciss and ienevials
<br /> fAe�eo1 ertd Tiusmi shall yrompity/umish ro Benefrciary a!!renewal notiaes and s/l paid premium�eceipis received by it!n na evcy+t shaA
<br /> ' � • Benotitiary or Trusiee ba hefd respansible lor failu�e to pay rnsurance pmmiums o�for any loss or damage arising out of a defect ia any
<br /> � policy o�arising out of any failure ol eny ifxsura»ce compan y to pay for onv'ass ar damade Insured against or fo�failuie by Tiu�far�n eftett
<br /> the insurance reqmred Aereunder./n the event ofloss, Tiustor shall give�r:r-;�t nniice by mai/to the insuiance carriar and Bennfiarory.
<br /> _- ` r;: ,. Bsneficiary may make pioof ol loss if nnt made prompNy or Jn proper fom:�/Tius[o�A/1 polrcles of insurance and any and a/l telunds o1
<br /> -- �.a�°amed premfums are Aereby assJgnsd fo Beneficiary as edv%%'�nal security for the paymer.t oJ the Obligations.!n the event o/BenefiClary's
<br /> •`��•�. �-�rcise of tha pawer of sa/e contaiasd harein,or/n the ev�����'Ioreclosure,a/l righr,tirl�-.�d interest ol Tiustoi in and ta zny rndu�anee
<br /> `�u:�ad�• • � policy then in Jnrce sholl pass to the purchaser et the tnrst_w:�sale or/mecfesure sale.!n ca�a ol anv loss,tha lnsa�anc�rrasesds may,of
<br /> �''N,.'°° . tha opt�on of Beneficlary,ba appGad by Beneficiary upan rhe Obligations,or an y part thsreof,and in such ade�end amox�t Ls Evnoliclary
<br /> `:•�i,,;�„: ' may dete�mine;o�sald insurence p�ocesds,r,r.tie optron of Beneficiary,m8y either bs used in rep�acing cr rs�aJOnng thn Tru�t Pioporty
<br /> -- parNally o�totelly destroyod to a centJ�tlon�^�f�ctory to Benerclary;or s8�d rnsurnnco proeee0s,or aaY�r.mon thereol,may bn rttleascs!to
<br /> ;:;:�� • ��. ' Tiusta.Un/nss Bsneficiary and Tiustar aNrr�nri,s8 agrue in writing,any such opplication ol insuranco pru_c�:s sha/l nof extend ar pastpcna
<br /> �-�+�� ' tha duo date of any note oi egrr•.s.^rent or�`x-'�ing tho Obligatinns,or any iastallmsnu callad for therein,oi changv the amnunt of sacA
<br /> -' �' lnsta!/ments.!/the Trust Pia�ar3�is asquired Ay Beneficiary pL�suant to the exerciso ol the pvwer of sale a other fareclosura,eA right,titla ,
<br /> ;,g;;!r;�":�'; ' and interest ol Tiustor in a»9 t:3ny inswance pioceeds payaMe as a resulf o�d�mn�o to tha Trost PrnpenV pryor to the sn/a or acquisition
<br /> ` •�-w+-•. �" shal!pass to Beneficiary and shali ba epplied first to the costs and expanses,including attomays'/ees,incuired in eollECting�uch p�oceeds,
<br /> __ � � then in the msr�c.ar and in the ordei pmvrdeS'erein Notvr�thstanding anyrhmg contsined m thls Section to tha eannary,if thls d sas ot Tiust
<br /> °� �"' is on a conCcm+r�um o�a tovrn house and dter�y is o mastei insur8ace pol�cy in fo�ce cOVering the commnn arcas aed latil+tlas nnd o!/
<br /> .- . • � condom/nfun.��::na town houses lotated in i1ru.�developmenL then,urt/ess othervvise notifiod in uvriting by tho 8eneficlary,the Yiustor:'�:t�l
<br /> have no abligetion ro malntain tho Insurance:squJred hereundei and wil!asslgn a!/benatits and protesds ieceived thorean to thn Bon_9��usy
<br /> ' •� ar+d,in tho Beneficiary's so%Ciscret/an,name the BeneAciDry os the named insured on soid palicV. Whenever suth insumnce u in force
<br /> ' � �r•sga►dless o1 vihethe►rC4ur��c��by the B�nelic/ary o�n�Jl U:a Tiustor hereby authoNzes thv 8enefrci�ry to cancel such insuraneo viherterer
<br /> ',�� iS�e Qe�efieiary determines r1r.,� such insuraacv daes not tcb.rTaetely protect tha 8enefrciary's inlerest.
<br /> � 8. Pre>•e�vsUon Ind Matniemrfee of Tiust Proporry. Trustor wi//keep tha bui/d%ngs and crisa�Imp�ovemonts Row or he�eefter e�ected on tha
<br /> �� ' :';;�?1 1 Tiust P�'opartyin good ispair and conditinn,brdinery depieciatien excepted,and shall proviCv e!I utiliry Services nec[fssary Ior the operetion
<br /> �� ead presorvution o1 tha Trust P�'opolfy Tiustor vvillnot commJt or permrt►vasie,will not alter!he design cr stiucturoJ chn»ctor Constituting
<br /> '' • • • �'4,�� nny buildrng now oi hereafter erected on and canstituring rAa Tiust Property�vithout tha p:lor wr;tten ccr.zenr of Benn6clary,wiJ/ao�do any
<br /> ��`, ' act or thing v�hich vioutd cr.r;r.l:�impair or depreci�to tha vnfua of the Tiust Property and w.'11 nat vbando»the Tros!ProOanY•Trustor wd�nvt �
<br /> � iemave vny fixtuies cortst`".�:i.�thp Trust Prop¢rtV unless th9 soma ero rmme0iate/y rep!accrf vdth like prope�ty subJect to tho lien ond
<br /> �'� !: s�curity inte�est of this Oee::�r 7�ust ead ol et least e0ual valuo and utiliry. Tiusto�wif!ccmt;ty with all p�esent and tuturo o�dinances,
<br /> . � �eguletrons and reQuirements ol an y govommental body whlch aro eppiicable to ths Trust r'rope�tV an0 to the occupanc y r►nd uso th�reol./!
<br /> this Deed o17�ust is on a unit in a coadom/nlum or a p/oaned unit development,Tir�sm�shap pedam a!/o/�rustar's oblrgntiuns under ths
<br /> • dec/arations or covanants ereating a gaveining tha condnmintom or th3 planned unit dave/opment tho b�r/ovis ond�egu/Dtipns of tho
<br /> . condnminium or planned unit devefopment,and the constituent Oocumenis.
<br /> ' 9. fnspetUon.Benoficiary ar its ugents m�y,et e//reasonab/e timES,Cnte�upan tha Tiust Properfy/o�tAe purpose of i�poction including,
<br /> . Dut not limited to environmentrd testing.Benefielary shall have no duty to mako sueh inspsction and shall not ba liabte to Tiusror ar to on y
<br /> pB�SOn ln pDSSesSlon il lt makes or/�tls te meke any such insFvction.
<br /> 10. �oPeeUan of Secvdty. !1 Tiustor Ia;ls to pedarm nny M the covenants ond 8g�esmsnts contained in this UeeO ol trust,ot i1 any action
<br /> or p�oceeding is commenced ovhich daes or may ndversely oflecf fhe Tius1 FYoporty o�1h3 rnterest of Tiusror or Benolici�ry thorei»or the
<br /> ifitfa ol TiustO�tht�eto,tRen BErtsfrciary,ut ifs op6on,may prdorm sneh covenants ona egreements,make such appea!�ncos,dofend vgainst
<br /> I ond/or investipare afch oation o�p�oeeeding and take such other aetion ns Beaefictnry deems necessuiY fo p�otect its rnterest includirtg,bLr
<br /> not l.�mitod to,drsbu�sCment of reason8bf9 nKO�nays'le8s and Cntry upan the Tiust Pioaest y to mako repeus.An y omounts d+str+�rsed ol
<br /> incuaed by 8eneliciory pursuant fo tAis SecUon,includirtg,trut not limited to,reasona6fo artomsys'fees,with inte�usr rhereon,shall
<br /> � constiluPU nCd�tional OtrJig�tions secu�e0 by this Oeed ol Tiust BanBficlary is Asreby givon an lnavocobfo Powei o1 attamay Iwhith povie�is
<br /> � coup�Ed with on interest lor purposes ol seturiryl to entv�upon the Tast Property as�he Trustor's ogent an�in tho Tiustar's namn ro
<br /> • ptr�lotm�ny on�a�f covenants nad o+J�eements to tra pr�lomred Dy tho lrtrstor as here:'n p�oviQed. Unless Trusmr ond Beaeliciary agrea to
<br /> � .� othn►rerms of poVment,such amnunts sh�fl trv pnyatrin uFan notice lrom 8�aaficlary ta 7rust0i�eqrrr+sting pAVm�ni the�eof,(trtd Shdl!heur
<br /> intnrCSt lrom tha dalo ol dr'SOu�sement a tho dato irtcurred ol tha ratn snt la�th in tho tionnl�ahln l�v��n vfM ch event uch amaunts�Shtrl�Dn
<br /> -- ,-- . _•._._�_ .. . covv�e0 Dy tAO trutlrnry,un�ess p,�yr�rr�rt of:nra�ass ar surh rr���:�t!�°tontrsryr[o-..
<br /> ' trQOr mterest ot the hrghest ratn R��m�tte0 6y applrcDbltt Inw. A�athing Contained m thrs pa�agraRh shttl/repuiro Benefitiary to incu�any
<br /> Ftapenso or toko tm y octian hercuadsr.Bcnefitfary sholl,ot its opt�an,ba sub�ogated to any oacumb�nnco,GQn,clafm or deman0 snd to a!l
<br /> • rrgAts or.d securitres Ior tAO O�Yment thereo0 pard o�drscharged by Berta/rtiory under tha p�avlsrons hereol aad an y such subrag�rion a�a�Q 2 015
<br /> � sholl tro oddrtrannl ond cumulanve srcmrty for rhis Deed of Ti�st.
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