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202110994
<br />3. Escrow. Interest will not be paid on escrowed funds if an escrow is required under paragraph 7(a) of this Deed of Trust.
<br />4. Deed of Trust as Security. This Deed of Trust secures prompt payment to Beneficiary of (a) the sum stated in the first paragraph
<br />of this Deed of Trust, plus interest and charges, according to the terms of the promissory note(s) or agreement(s) of Borrower to
<br />Beneficiary identified in the first paragraph of this Deed of Trust, and any extensions, renewals or modifications signed by any
<br />Borrower of such promissory note(s) or agreement(s), plus (b) to the extent not prohibited by applicable law (i) any additional
<br />sums which are in the future loaned by Beneficiary to any Trustor, to any Trustor and another or to another guaranteed or
<br />endorsed by any Trustor primarily for personal, family or household purposes and agreed in documents evidencing the transaction
<br />to be secured by this Deed of Trust, and (ii) all other additional sums which are in the future loaned by Beneficiary to any Trustor, to
<br />any Trustor and another or to another guaranteed or endorsed by any Trustor, plus (c) all interest and charges, plus (d) to the
<br />extent not prohibited by law, all costs and expenses of collection or enforcement (all called the "Obligations"), This Deed of Trust
<br />also secures the performance of all covenants conditions and agreements contained in this Deed of Trust. Unless otherwise
<br />required by law, Beneficiary will satisfy this Deed of Trust upon request by Trustor if (a) the Obligations have been paid according to
<br />their terms, (b) any commitment to make future advances secured by this Deed of Trust has terminated, (c) Beneficiary has terminated
<br />any line of credit under which advances are to be secured by this Deed of Trust, and (d) all other payments required under this Deed
<br />of Trust and the Obligations and all other terms, conditions, covenants, and agreements contained in this Deed of Trust and the
<br />documents evidencing the Obligations have been paid and performed.
<br />5. Taxes. To the extent not paid to Beneficiary under paragraph 7(a), Trustor shall pay before they become delinquent all
<br />taxes, assessments and other charges which may be levied or assessed against the Property, against Beneficiary upon this Deed
<br />of Trust or the Obligations or other debt secured by this Deed of Trust, or upon Beneficiary s interest in the Property, and
<br />deliver to Trustee receipts showing timely payment.
<br />6. Insurance. Trustor shall keep the improvements on the Property insured against direct loss or damage occasioned by
<br />fire, flood, extended coverage perils and such other hazards as Beneficiary may require, through insurers reasonably satisfactory
<br />to Beneficiary, in amounts, without co-insurance, not less than the unpaid balance of the Obligations or the full replacement value
<br />as determined by the insurer, whichever is less, and shall pay the premiums when due. The policies shall contain the standard
<br />mortgagee and lender loss payee clauses in favor of Beneficiary, shall insure Beneficiary notwithstanding any defenses of
<br />the insurer against Trustor and, unless Beneficiary otherwise agrees in writing, the original of all policies covering the Property shall
<br />be deposited with Beneficiary. Subject to Beneficiary's satisfaction, Trustor is free to select the insurance agent or insurer through
<br />which insurance is obtained. Trustor shall promptly give notice of loss to insurance companies and Beneficiary. All proceeds from
<br />such insurance shall be applied, at Beneficiary's option, to the installments of the Obligations in the inverse order of their maturities
<br />(without penalty for prepayment) or to the restoration of the improvements on the Property, and Beneficiary may require that such
<br />proceeds of insurance be deposited with it for these purposes. In the event of a trustee's sale or judicial foreclosure of this Deed of
<br />Trust or other transfer of title to the Property, in extinguishment of the indebtedness secured hereby, all right, title, and interest of
<br />Trustor in and to any insurance then in force shall pass to the purchaser or grantee. If Trustor fails to keep any required insurance
<br />on the Property, Beneficiary may purchase such insurance for Trustor, such insurance may be acquired by Beneficiary solely to
<br />protect the interest of Beneficiary (it will not cover Trustor's equity in the Property), and Trustor's obligation to repay Beneficiary
<br />shall be in accordance with paragraph 9.
<br />7. Trustor's Covenants. Trustor covenants:
<br />(a)
<br />Escrow. If an escrow is required by Beneficiary, to pay Beneficiary sufficient funds, at such times as Beneficiary
<br />designates, to pay when due (1) the estimated annual real estate taxes and assessments on the Property, (2) all
<br />property and hazard insurance premiums, (3) flood insurance premiums, if any, (4) if payments owed under the Obligations
<br />are guaranteed by mortgage guaranty insurance, the premiums necessary to pay for such insurance, and (5) other items
<br />agreed to be included In the escrow. Beneficiary may, at any time, collect and hold such escrow funds in an amount
<br />not to exceed the maximum amount a lender for a federally related mortgage loan may require for Trustor's escrow
<br />account under the federal Real Estate Settlement Procedures Act of 1974, as amended from time to time, if
<br />applicable. Beneficiary may estimate the amount of escrow funds due on the basis of current data and reasonable
<br />estimates of future expenditures of future escrow account funds or as otherwise required by applicable law. Beneficiary
<br />shall apply the escrowed funds against taxes, assessments and insurance premiums when due or as otherwise required by
<br />law. Escrowed funds may be commingled with Beneficiary's general funds. If the escrowed funds held by Beneficiary
<br />exceed the amount permitted to be held by applicable law, Beneficiary shall account to Trustor for the excess
<br />escrowed funds in a manner determined by Beneficiary or as otherwise required by applicable law. If the escrowed
<br />funds held by Beneficiary at any time are not sufficient to pay the escrow account items when due, Beneficiary may
<br />notify Trustor in writing, and Trustor shall pay to Beneficiary the amount necessary to make up the deficiency in a
<br />manner determined by Beneficiary or as otherwise required by applicable law;
<br />(b) Condition and Repair. To keep the Property in good and tenantable condition and repair, and to restore or replace damaged
<br />or destroyed improvements and fixtures;
<br />(c) Liens. To keep the Property free from liens and encumbrances superior to the lien of this Deed of Trust and not described
<br />in paragraph 2;
<br />(d) Other Deeds of Trust. To perform all of Trustor's obligations and duties under any other deed of trust or security
<br />agreement on the Property and any obligation to pay secured by such a deed of trust or security agreement;
<br />(e) Waste. Not to commit waste or permit waste to be committed upon the Property or abandon the Property;
<br />(f) Conveyance. Not to sell, assign, lease, mortgage, convey or otherwise transfer any legal or equitable interest in all or part of
<br />the Property, or permit the same to occur without the prior written consent of Beneficiary, except as otherwise required
<br />by applicable law, and, without notice to Trustor, Beneficiary may deal with any transferee as to its interest in the
<br />same manner as with Trustor, without in any way discharging the liability of Trustor under this Deed of Trust or the
<br />Obligations;
<br />Alteration or Removal. Not to remove, demolish or materially alter any part of the Property, without Beneficiary's
<br />prior written consent, except Trustor may remove a fixture, provided the fixture is promptly replaced with another
<br />fixture of at least equal utility;
<br />(h) Condemnation. To pay to Beneficiary all compensation received for the taking of the Property, or any part, by
<br />condemnation proceeding (including payments in compromise of condemnation proceedings), and all compensation
<br />received as damages for injury to the Property, or any part. The compensation shall be applied in such manner as
<br />Beneficiary determines to rebuilding of the Property or to the Obligations in the inverse order of their maturities (without penalty
<br />for prepayment);
<br />Inspection. Beneficiary and its authorized representatives may enter the Property at reasonable times to inspect it, and
<br />at Beneficiary's option to repair or restore the Property and to conduct environmental assessments and audits of the
<br />Property;
<br />Laws. To comply with all laws, ordinances and regulations affecting the Property;
<br />(g)
<br />(1)
<br />(1)
<br />(k) Subrogation. That Beneficiary is subrogated to the lien of any mortgage, deed of trust or other lien discharged, in
<br />whole or in part, by the proceeds of the note(s) or agreement(s) identified in the first paragraph of this Deed of Trust;
<br />and
<br />(I) Leases. To pay and perform all obligations and covenants under and pursuant to the terms of each lease of all or
<br />any part of the Property required of Trustor, and to not cancel, accept a surrender of, modify, consent to an
<br />assignment of the lessee's interest under, or make any other assignment or other disposition of, any lease of all or any
<br />part of the Property or any interest of Trustor in the lease and to not collect or accept any payment of rent more than one
<br />month before it is due and payable.
<br />Deed of Trust
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