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<br /> v� '_ � �`� Beneficiary. So long a� no Event of D�fault(as hereinafter defined). or event wl�ich with the �Y..-
<br /> �• : �,. passage of time,the givit�g ofc notiec,op�t}�,�voutd constitute an F,�ent of Aefault (a"3Qef�ult") ;�
<br /> ��`` hereunder or wnder the other Loan Documents h�s occurred nnd is Continuin�,all surns in the
<br /> �' Lnpound Account shall b$ held by Beneficiary in the Impound Account to pay sasxd t�xes.
<br /> '��' - assessments and insurance premiwas in one installment be�'ore the same become deliaquent. _
<br /> Trustor shall be responsible for ensuring the receipt by Heneficlary,at least tlurty(30)days prior
<br />'"""�'""'""'�'� to the respcctive due date for payanent thereof,of all bills,invoices and statements for all taxes.
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<br /> assessments and iusurance premiums to be paid from the Impound Account,and so long as no
<br /> Default or Event of Default herenander or under the other Loan Documents has occurred$nd is
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<br />"=� ��� ��� ; continuing., Beneficiary shall pay tine govemmen4al authority or other party entitled thereto
<br /> _��:�`- directl�•to the extent f�nds are available for such purpose in the Impound Accoun� Ias malring
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<br /> _�='i'�a any payment from 4he lragound Account, BeneSciary shall he entitled to rely on any biil.
<br />_=:_���w�
<br /> _�:�;, atatement or estimaYe�rocueed fr�m the appropriate public offiEe or insurance company or agen .
<br /> �� without any iaquiry inrw t�e accua acy��sucu bi�,�tat�nent or estinaate an@ without aray iraquirY
<br /> .�1z��'�� into the s.�c�t��y,validity.enforceability or contestability of any tax,assessmeYnt,valuatian�sale.
<br /> =="`�'"�� forfeiture, F.� lien or tiE�e or claim ttiereof. The Impound Acr.ouux shaU not, unless atheNris�
<br />---�`��'- hcable law, be or be deeraed to be es�roe�v a�r trust funds,but, at
<br /> -q•,;-�;�,� explicitly re��ired by app'
<br /> __-- -- . � Beneficiary's option and in Benefici�xy's discretion,may either be held in a separate a�ccount or
<br />-��-�� be aommingied by BeneSciary with the 8eneral funds of Beneficiary. No interest on ihe funda
<br /> °_ contained in the Impo�nc� Account shaU be paid by �eneficiary to '�'n�stor. 'The lmpound
<br /> -=� Account is solel3r for the protection of Benefic�ary and entails no responsibility om Beree&¢iary's
<br /> ---,� part beyand i�.e payment of taxes, assessments and insurance premiums following receipt o�
<br /> hiUs, inva�ces or statements therefor in accordance wi�i ti�� i� h�af s��y�� rhe ,
<br />--v----= a��v✓ing af due credit f�r the su�ns actually received. Upor�assignment of this Dead oi Tr�st by _.
<br /> —_� ���ficiary; anY fun��in:�he Impound Accou�t shaU be tumed over��� the assignec and t�y
<br /> x�sponsi'bilify of Bene�i�i,i�ry,as assigaor,with�t�spect thereta shall terminate. If the tata� ftun�s'
<br /> iin the Impo�ad Account ahall exce��the atnount of payments actuallY aPPlied by Beneficiary for
<br /> - ,, the putposas of the Impound Ac�ount, such excess nn�y be credited by SEneficiaYy on
<br /> -�'=��' subsequcnt payments td b�made hereunder or,at the option of Bexie�cia�i,resfunded to Tn�stor.
<br /> � I�Saowever,the unpownd Account shall not contain sufficient fund§�u��ay the soms requir�d.
<br /> - when the same shall become du�aad paysble,Tnistor shall,witbin ten(10)days after re��ipt of
<br /> v�►sitten natice thereo� deposit with Beneficiary the full amount of any such deSciency. If
<br /> Tirustar shall fail to depasit witli Beneficiary the full an►ount of such deficiency as provided
<br /> above,Beneficiary shall have the aption,but not the obligatian, to make such deposit,and a11
<br /> -------- amounf�so degosited by Bene�ciary,together with interest thereon at the Default laterest Rate
<br /> ••..
<br /> fmm the date incurred by Beneficia3y until actuaUy paid by Trustor,shall bes i�imediately paid
<br /> __ ----_- '. � by Tntstor on demand and shall be secure�by tlris Dee�D of Tnist�nd b3r all of tho oth�r Loan
<br /> Documents secwring all or any part of the indebtedness�videnced by the Note. If there is an
<br /> Event of Default nnder this Deed of Trust,BeneBciary may,but sl�all not be obligated to�appd�r
<br /> at any time the balauce then rem.aiaing in the lmpound Account agaiinst the indebtedness secur�.
<br /> � � hereby in whatever order�eneficiery shall subjectively determine. No suclx applicatioa of the�
<br /> _� ��mpound Account shnll be deemed�o cure any Default or�venY of Default hereunder. Up�on fi�ll . ,
<br /> _ _ :�iaym�ent c�i me iicaeoi�ciness secured'nereoy in acaoruances wiiin iis ietms or at suon e,anier i's�i�:
<br /> - - ��, �,as Beneficiary may elect,the balance of the Impound Account then in BeneSciary's posse�ii?z�
<br /> ---�°= shall be��id over to Trustor and no other party shaU have any right or elaim thereto.
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