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<br /> a ` ?. P�yment of Grdebtedrtesa. Tnrsto�ahall prompt/y poya cousv ro bo pnfd whon duo the Ob1lpoNons nnd oll otho�/ndobtndrtos�.Tho � a
<br /> • ' Tivatm ahn!/n/so promptty ond/nrth/ulty obsarvo a/!of Its o6J/dadons undor ony othor dnod of nuat oneumboilnp op or pnrr nl tho Aust ��•-�
<br /> Propo►ty and,l/oppl/cob/n any p�omtsaory note,guaronty,or othnr torm ol eontioctuol lrtdobtadnosa socured by aach otnoi dovd of trust,
<br /> � whothe�/ua.'nr or aenlo�ro the/!en o1 thla Deed of Tivat,and nny othar obllgatlons socurod Oy o/!on on tho Tivat Propn�ty, whothw odslnp _
<br /> ' � consonsuolly or by opoiadon oflow. '
<br /> " 3. ConabucB9a of lmpnvemanta. Yrustot sholl compldte N good ona�vYOrkmonliko monnor on y bulldinga,Improvnmonts ar ropnl�e roloUng ;;;
<br /> thoroto wh1aA mAy bo bepun an tho Tro9t PnWerhr or conromplotad by tho Obl/potlons aocumd hnroby,to pey wRon duo oll eosta and =;;r,
<br /> /!obl!!tles lnce�red therelof rtnd not to porm/t any construcdon 1len opolnat such Tiust Proper►y. /n.tho ovent eonatrucNon ol bul/dln�n,
<br /> rust to tAo eontrory notwlthatond/ng:fol fo ,,-�.- `
<br /> I�' /mprovomente or iepelrs ere contemploted, Tiusto�also sprees,enythingln Mla Deed o1 T �
<br /> � � promptry commenco ony such work end ro completo tho propasvd lmp�ovomonts p�omptfy.ftrl to comploto the samo ln oacadonee wltA the _,�:
<br /> plans end sycclficntlons as'opprovad by Bcna7felary,fcJ rocompfy wlth n/l the torma o�o bul/dlnp lean ogroomont/f ony,botwoon Tivatoi
<br /> and�Banef/ctary,the terms af whlch ere/ncorp orated herein by role►encv snd mado o po�t AorooJ.ld/to slloW Bonolisrory+o�nspau the Tivat a:.,.
<br /> � Property at oN tlmes duilng oonanuetlon,end fel to repla�e any wo�k or materla/s unsaNslactory to 8eneflclary wlth/n liltnen f f SJ doys o/tor ;;�
<br /> � wdtten aotice/rom BenellE/ary ol such fact.
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<br /> Y^r""1�' � 4. Farrdt for Payment of Chi►8ea./1 requested et vny tJme oi/rom tlr»e to tlme by tho Benollclary Trustor ahap poy to Beneliclvry on fho
<br /> ��"� fJiat day o!eoch month,o�such other date eaeh month a�ma�ybe sRecillad b y Beno/lelnry.+�ntll the Obllgatloas aro pald I»lull,a aum �
<br /> "P /herelnalter the'funds"1 equal to t/f2th of tAe yeady tdxas�lld assnsaments wh/ch mey attaln pNOrlry over this Deed oI 7�ust and groend
<br /> �1 ients on the Tiust Pioperty,!t any,plus 1/12th ol the yeaAy p�8m/um/nstalln:ents/o�harard/nsurence,p/us f/1?th ol the year/y premlum �_:°=
<br /> lnatellments for moNgogo fnaoronae,!f en y,etf as ieasonady esKmated!nlNalty nnd Irom tlme to tlme by Benelicla►y on the basis ol _
<br /> assesa�nents and bIlls and ressonable esUmates thereof.llie funds shaf!be held!n an/nstltutlon,the deposlts or accoenrs ot whieh ere _
<br /> � lnsuied o►guaranteed b y e/ederel o�atate agency/nc/ud�np BeneAclary. Bene11e18ry shall apply the Funds to pay s8ld texes,assessme»ts. _
<br /> lnauience p�emlums end gro�nd rents.BQneNelary aha//not ba requlred M pay Trostor eny lnterest or eam/ngs on tAo Ponds.Beneflcinry shall
<br /> glve ro Tiusror,wlthnut chnrge,en annual eccounUn9 of the Funds showing credlta and debits to the furtds and ffie purRose lo�wh/cA eech �_
<br /> debit to the Funds was made. The Funds are pledged as additlona/sec�Nry/or thn Obl!g at/ons secured by this Oeed ol Trust.1/the smount
<br /> ol the Funds held by Benerclary,together wirh thv futuremonth/y Inatallmenta o/Funds peyable pdor to the due detes ot taxes,
<br /> rissessmonts,Insurartce promioms end gmund�c�ts,shaDexceatt the omount ieQulred to pay 8e/d taxea,assessments Jnsaronee p�emlums
<br /> as
<br /> ' r�nd ground rents as they/a1/dus,such excess ahal/be,et Tiu�to�s optlon,elthe�p�ompW repald to Tiustor or credited►o Tiusto�a8alnst
<br /> ; /eture monthly lnstallmenfs ol Ponds.!1 the emount of the Funds Aeld b y BenefJc/ery shal!nat bo BulAclent to pa y taxes,asaessments, _-
<br /> � +"; Jnsuranaa premfumss arrd graernd rents ss they/al/due, Trwto�sha!l pap to 8e»efltiary any smount necesasry to make up ths daNclency ` _
<br /> r wJth/n thlrty days from the date notice!s malled by Benefielary to Tastor requesving payment thereot.!/pon pa yment!n full ol e!I -
<br /> Obllgatlons,Beneflc(ary sAa//prompt/y refund to Tiustoi any funds held Dy Benellclery./l tho Trust Pioperty Is aoid under tAe pawer ol stNo --
<br /> or the Trust Proparry!s oMen�vlse ecqulred Dy Benof/e%ry,Beneflciary she/I epply.Immedletely pda to tho ssle o/the Tiust Propo�ty oilta
<br /> '. ocwdtteln elvei of Trjiis o rs o��dana unde�h!�SecKon,tTius or eo ene�»tstand agrees�o pa s��fo►e the���eme becor»0 dellnquenteQ�,tes
<br /> - 7� taxea,assessments,lnsurance p�emiums,gmund rents,and all other cha►ges whafsoaver levi�upon or essessed,placed or mude apalnat �_n_
<br /> ' ;�•� the 7iust Propen►a Tiustor hvrther agrees,upon wrltten request by 8eneltdary,to piomptiv deltvsr to BeneActary all recelpts Io�the paymnnt
<br /> of such charges.Tiustor Ilkewlse agroes to pay a//taxes,essessmnnts and other eha�ges ievled upon or esaessed,placed or made agalnst, -
<br /> ;� o�measured by,this Dead of Tivat or the recordatlon hereof. _
<br /> 8. App1/oadon of Pey�nants.All payme»rs received by Beneliclary es to eny debt,liabpity oi obNgadon owed to Benefielary by Tiustor may
<br />_ be appl/ed by Benellclory to the payment ot tAe Ob/lgat/ont!n any order o�manner of appUcaUon whJcA BenaJJclary.!n ils absolute dlseretian, _
<br /> , deema appropdate.
<br /> -' • � ,^ ' 6. Chargea:Rlona.Tiustor wi/l keep tho Tiust i�iopeit y lree Irom ell Uens and encumbrences,whethe�A�for or suboidlneta to thls Deed of
<br /> __.� Trvs4 other thea the/len of cu�ienf ieal estate taxes end hstelfinenta ol of/lela/assessments w;rh respeci to whlch ao penelty!s yet —
<br /> , peyable;provlded,Aowever, tAet iiustor need not dischmgv m�y bui:h lien so lang 8s Ttf�sar�rs!!s8r�?^.:s•dtlng, toFe y the!�!�++�1�
<br /> � secwed by auch llen/n e manner acceptable to Benef/cJery end shallin good fe1tA coniest such Nen 6y appiop�7ate/egal proceedings effectiva
<br /> to prevent the enfo�cement o1 the llen o�the loss o1 anyMterest!n o►part ol the Trost Property,end shal!also glve 8uch reasonab/e securlPy --
<br /> � to BeneAelary as mey be demanded 6y Bene/lelary to inswe eompBance theiewlth. 7he Bene/ICiary may in Jts sole dlscrer/on defend the!!e»
<br />'��; '' of thls Deed of Tivat and al/costs and ettomeys'/ees lneumed by Benellelaryln sald defense ahell bo ielmbursed by�iusto/or added to the
<br /> _ Ob/Igetlons.
<br /> 7. Ns:eMlrma�0aae- Tivatoi sha/l keep the bul/dings end othe�Jr»provements now exlsting or hereafter erected on the 7rust Pioperty
<br />-�•� y� lnsered by lnsureACe carders satlafectory to Baneficiary againat losa by fire,hazards Jne/uded/n the tem►sxtended toveia8e"and auch
<br /> other hasards.casua/tlea end cont/ngencJes,lnc/uding w+r demage lnsurance,as may be reQWied by Benellclary,!»sueh amounts and lor
<br /> :;�a,_� such perlods as may be requlred Dy Bene�iclary. The pofiey ol/namanee shaAbe!n lo►m ecceprab/e to 8enellclary arrd shafl noi contaln a
<br /> .. `- }� defense besed on colnsuisnce,end ahall contaln the stan0aid provlslon that no act of the BeneBctery or o!ths BenaltslOry's ageat�or �
<br /> rep�sentetives wl/lrender the poAcy vold as to the Bene/klary or elfect the Beneflclary's dgAt to�ecover/n case of/osa,aatl tAe polrty o�
<br /> � poflc/es sha/lprovlde[hat t/re seme mey aot be cance/edor inodllled uvlthoyt Nlteen(f6/days pdor wrinen noUce to BenelJclary,and have _ _
<br /> __'�` ' . ; /oss payeb/e provislons In fevo►ot and!n/am acceptable to Beneflclary.All premlums on/nsurartce policlns shall ba pald In the manr+er
<br />-�;':��= = provl�ed ander the SecNon entltled'Funds Ior Peyment of Charges'bereln o4 I/not paid!n avch ma»ner,by Tiustor making paymant at
<br />�:'��� .�� least Nkeon f fb)days p�lo�ta tha dua date,dlrect!Y to tM insurence canler.BeneNclery shap have the dght to hald the pallefes end ienevvals
<br /> �""'�"::,t the�eof and Tiustor ahal!p�ompNy/umlah to Benefldarydl�enewal no8ces end al/pa/d prem/am rece/pts recefved bylt./n no event shal/;�
<br />-�:�. _
<br />:�.;.,;_:��M` BendlaJary or Tiustee be held respanslb/e Io►la/Iure to p�y lnsurance prem1ums or!or any/oss or damage edsing out al e delect in any�
<br />����_�, pol/ay or ads/eg out ol cny tslfure ot any lnsarance compeny to psy/or any toss or damage/nauied sgalnst or/o�/a!/uro by 7ivsta•to eHect
<br />_�T�,�;.. die/nsaronce ieQulred hereunder./n the event of/oss, Tiustor shal!glve prompt notlee Dy mall to the Insumace earNo�and BeneBclary
<br /> Bedo�elary mey make prool ot/oas H noi made promptryar!n roper lbim by Trostar.All policles of Insurence and eny end al/�efunds of
<br /> ���-����� .; une8med premiums aie hereby eas/gned to BeneNc/ary af addPona/securlty tor the payment o�ihe Obligedona.l�the event of 6ene/%lary a
<br /> =�-;�+�� . ezerc/se ot the powei o/ssle contslned hereln,or!n tho event af feree/osere,e/l dghr,ilt/e and/nterest ol Tiustor!n and to any Jnsurance _
<br /> -. :'°`" � � ` poUcy then Tn/orce aha/l pass ro the puichasel et the tnatee's sa/e or foreclosure sa/e.tn case oJany/osa,tho/nsurance ptoceeds may,et
<br />- � yK:' � the optlon o/Benellclary,ba app/!ed by Ben6nciary upon 1ha Obllgatlons,or any paK thereot,and!n such Order ond amount as Benoflclary
<br />_''•",�-
<br /> - �'�.��;�, mey deteenlne;o�safd lnsurance p�oceeda,et ihe optlon of Bonofklary,may elther be used Jn repiacing or iestodng the Tiust Property �
<br /> — ��. partla//y ur rota/y destroyed ro a coadidon soNsfectory ro BerteHClsry;or aeld lnswence proceeds,or eny poitlon theieof,may be releesqd?a
<br /> ===� _�: Trustoi.Unless Ik;narslary ond T�ut:to�othsrv.•!se agreeln wdtlnp,t�ny surh t+ppircat/on bf Insuronae proceeds ehal/no1 extend of p09lpDh6° , _
<br /> -- uia Jue dete of any rrotc cr aBrrrcx»crtt evldane�n9 rf+a O�a�an:.or�r;Ir�te!lments ca!!ed/o�thareJn,or clranpe tlie amannt ot sueh
<br /> - _L�._. -, 'lnatal/ments.//the Truat Property!a acQulred by 8enefldery pursuant to the exercise ol the power of sale or otne�foreclasure,an ngn4 t:t/g
<br /> -��; andlnterest o/Tiustor in and to any lnsurance P�oteedlpaysb/e ss a resu/t of damage to thu Tiust ProPBnY Pdo�to ihe sa/e or acQu/sttlon `.,,:'_
<br /> -' ;,�� ahall pass to Bene/lcJary and BAaI/be epplled Orsr m theeost�and expenses,lnclnding eKOm 'fees,Incurredln collecting auch procesds,
<br />��.:��°* ��� � � then/n tAe mnaner end/n the order prov/ded heieln.Notwlthstending artythiag Contalned/n th�Sec do n t o t h e c o n i r ary,!f t h l s O e e d ot T i u st -
<br />-�--;��,�,: ;' � is on a condamiMum or a town house end there Is a maua�Insurence polldy in lorte covedng the eoramon areas end IscJ/ltles edd el1
<br /> ... . tondominJums end town hvases/oeated 7n that development,tAen,unless otherwlse aodfled/n wddng by the 8eaeffclsry,the Tiusro�shall �:
<br /> =�`��;� have ao oblfgatfnn ro malntnln the insuranae iepulnad hemundei and wpl asslgn e!!beneflts end procoeds ieeefverd thereon to.the Beoeflc/ary =
<br /> _. ;;�-�-- and,In the BeneHc/ary's so/s discredvn,name the Bene6clary as Me aamed Jnsuied on said popcy. Whenever sveh lnsurtmce!s In Ioice
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<br /> . (ragaialle98 of whothe�requested by the Benellclary oi rat/ t�e 7msro�here6y euthor3:es the BeneNclary to cancul such lnsurnnce whenever �
<br /> . �: th�BeneAalary deter.nlnes that such lnsorance does notedepuatefy proteot the 8enef/clary's Interest.
<br /> �� � 8. PresarvatJcn end Mtfntenrnce of Trust Pmperty. Tnrsior wpl keep the bu1ldlngs ead othe�lmproveme»is now or herealter e/ected on the =__
<br /> � ' " ' 7rast Prope�ty in good repa/r 8ad conditlon,ordlnary depecladon excepted,and shall provlde eN uN/iry servlaes aecesaery Ior tha operetlon —
<br /> snd preservallon of the Trust A�opeNl. Tius►o�w!//noi commh or pemrlt weste,wi//not e/ter the das/gn or strttcturei chemcter consUtuting _
<br />- � j any tru1/ding now or hereaft�i e►tetod on and consdtutlnp the Tiust Pnperty wltbout the prfor wrifte�consent of 8eneflelery,will not do any _
<br /> act or thing whlch would unduf y Impalr or depreclate tM value ol the Tir�st Pnperry and w!ll not abandon Me 7rust Proparty. Tiusto�wl!!not =_
<br /> remove any Nxtures consdtuNng the Tiusi Pioperty unlps the same are/mmedratety reploced wlth/lke property aublect to tAe/!en and __
<br /> � �';r secudty lntereat ol th/s Deed ol TiUSt and o/et%ast equal velue and uN/Ity Trustor w!N comp/y wJth el!present a»d/utuie o�dlnances, _��_
<br /> rogu/atfona end repuliements oI any govemmenta/body wh/eh are epp/lceb/e to the Tiust Prope�tY and to the occupancy and use thereo%// - -
<br /> ` thla Deed o1 Tiust ls on a unit/n e condomMlum or a plmrned unit development,Tinstor ahall per/orm a/I of Tiusmr s ob/Igatlor+s under Ne ��w
<br /> ' � declarat/ons o►covenants creaUng or govemfng the condomintum or tAe planned unit developmenL tAe Oylaws and regu/atlons ol t/rv
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<br /> ___---��: coadominium or pfanned unh dsvelopmon4 and the coradt�ent docume»ta.
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<br /> , " - 9 /qifbQ�/QA.BBRe�IlC18ry OtlLS 880��mAy.at 81/I�dJOn6QlB times,enter upon riro Trrrsi i�d�ro,7�:v:::�o�.F..-r��w�A � •^ •a. �T=.
<br /> � ...� Dut nat limtted to envlronmentel testT BeneNclary sAaP/save no duty to make sueA lnspectlon and shall not ba llable to�stor or to enY Fly_�.
<br /> �i s to make eny sud+lnspeodon.
<br /> _ '( poison/n possesslon Hlt makes or la! e°,
<br /> } 1p, PiptecBoM of 8eaudtY. H Tiusro�fefls to po�lown any of the covenants and agreementa contalned/n thls Deed af Tiust or 17 any act/on
<br /> � " or proceeding!s co�»menced whlch does o�may sdvenely aNsct Mb Tiust Properry o�the/ntemst ol Tiustor or Benel/cfary theieln o►tAe ��;
<br /> � t!t/e of Trustor thereto,then 8enefloJary,et ita opt/on,may pnrform etutA eovenants snd egreements,make sueh appearences,doPend ogalnst
<br /> and/or/nvesdgare such oct/on or proceeding and isko aucA othar aeHon es BeneNclnry daems aecessary to proteet fts interesr lncluding,but ��-
<br /> not dmlted to,dfsbursement of ressonaDle attomeys'!e��nd entry upon the Tiust Property to make repstm.Any amounts dis6u�sed or
<br /> Incwred by BoneAdary pursusnt to this SeaGon,/nc/u�rg but not/lmited to,roasonabfs t►ttomeYS'lees,wlth lntemst thereon,shal/ �'.�`
<br /> � consNtute eddldonol ODllgailons secuied by thfs Desd o(Tiust Beaoflcfaryls hereby glven an fiievocable pawar ot aKOnrsy fwAich poovor is ��:;
<br /> coupled wfth sn lnterest lor Ruiposes of secudtyl to enrer�pon the Tiust PmpenY os tlre Tiastor's egent ond In tAe TiustoPa name to �
<br /> pallom►eny end all covenants snd ngraeraents m be�r/ormsdoy rho Tirrsror es Aeretn p�ovlded. Unlasa Tiusroi and Benof/clary ag�ee to
<br /> othor teims o!pnymenL aueh smonnta shap ba paya6la upan noUee lrom Beneflc/ary ro Tiusto�reouesdag paYr»ont Mereol,ond ahap bear ��'
<br /> Interest/rom Me date ol disbursemont or tAe date lncrered st the rete set lorth!n the Note or the rate provlded fn the most recont obl!gatlon �=;
<br /> - covered 6y tho 6uaranty,unfess payment ollnteresr atauch rvte would be contrery to aAPllcatrfe IQw,In wAlch event such emounts shatl ,;i.
<br /> ' trear lnterest et the hlghesP iete psnnitted by eppllcnb/e7aw Nothing contalned!n th/s pe►ag►apA ahel/requfre Benolfclary to lncu�any _
<br /> oxpense or tako 8ny acdon Aereundc�Bonefic/a�Y shaQ et Ita op Hon,be suDrogeted to ony encumbrancv,pc►n,clalm or demsnd end to af!
<br /> dgAts end secudtles for the payment Mereol poid o�diuha�ged by Benollclory under tAe provlslons hereof and eny 8ueh sutrrogaHo»dgAta
<br /> shep be eddlt/ona/ond eurnulotfve secudry/o►MIs Dood o1 Trost. �go z oi a -
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