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<br />'=~-����: with the execution hereof, Tpustor has established wlth -
<br />�•r:.,-y„w . �a^l� COAt6Il1�'lflTAriC'Q119�}f _
<br /> "" �cne�iciary a reserve in the �noant eqe�al to two (2) r�gular monthly installments of principal, ____
<br />'T-':;�- osits or impounds as calaulated by Bene�iciary (the °�'ay���e�� ` :
<br /> ��� inter�st �and all required deP that, nonvithstanding the e§4ablishment of the
<br /> .� R�serve ). Trustor understands and agrees
<br />::_--���� Payment Reserve as herein required, all of the proceeda of the Not�have been, and shsil be
<br /> _:�- considered,fu11y disbursed aud shall bear interest and be payable on the terms provided therein.
<br /> = �'��':�p��� � No interest on fi�nds contained in the Payment Reserve shsll he paid by Beneficiary to Trustor.
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<br />�;�,n� ,, (b�For so long as no Event of Default bas occuired hereunder or under any o e
<br />-'�_�.�.;° other I.oan Da.u�¢�3s,Beneficiary shall on the first two(�)monthly Payment Dates(as defined
<br />°�"`=�.�_� in the Note) unde�4he Note, advance from the PaY�►ent Reserve w itsolf the amount af the
<br /> -- - -- monthly installment due and pgyable by Trustor under the Note on such monthly Payrnent Date
<br /> - -=- emd sn�ii aiso advence irom uia�nyuz�t�ieservc int:,�;tc Impotuid Account the amaunt�f any
<br />-_ '---m=�' deposit for taxes and insnrance premiums and into the Repl��emet�t Reservc (as h�reinafter .
<br /> � defined)the ama�nt of any deposit for Repairs(as hereinafter dei�ed)and iaw anY otii�'a�sen'e
<br />_=�"'��'`� account the amaunt of any deposit in accordance with the tenns of any other Loan Document
<br /> _�_�;� requi�rn�to he p�ad by Trustor concurrently with eacb such monthly insxallment puPSUant w the
<br /> tenns hereof. Frovided no Default or Event of Default has occu.-�red after the final disbursement
<br /> `" &oa�the Payment�serve,auy amounts Yhen remaining in the Payanent Reserve shall be paid to
<br /> -� TnL.°tor. Nothing Contaimed herein,including,without limitation,the existence of the Payaient
<br /> :��;� Yteseave,shall release Trustor of any obligation w make payments under the Note,this Deed of
<br /> �- Ttust or the other I.Qan Docu�ents striotlY in ac�°rd�nce with tbe terms here°f or Wexeof a�nd,in
<br /> _.:.___
<br /> 'saia acg�w�zthcut L'�itir,��gc,r�cralitv af the foregoin�,ghould the amounts contained in We �� -
<br /> � - Payment Reserve not be s�cient to puy in �1 �e �onthly inst����� �a t�e �?pau�a __
<br /> Accvunt, Replacemment Re��rv�e and anY other appiicable reserve account d�posits r8ferenced
<br /> Tnaswr shall be responsible for paying such de�cieney on the .
<br /> abt3vti in this subparagraph,. .
<br /> paymeat Date of Any suc�monthly installmen� . _
<br /> � 1.8 Reulacement Reserve•Securitv�►terest Reserv�e . , .-
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<br /> � (a)At Lender's option,as additional security f�r 4hs indebtedusss secured heret�y, �`_ ;
<br /> Tnistor shall estsblish and maintain at_a�l times while this Deed of Tnist�ntinfes i�n .enffnona .
<br /> npair reserve (the "Replacemen4 ResErve'� with Beneficiary for paym
<br /> recurring types of costs and expenses iticun�l by Trusror for interior aud exterior work to the
<br /> - i�roperty, including without limitation, Perfomnance o£work W the roofs, chimneys, gutters,
<br /> downspouts,PavinB�curbs,ramps,driveways,balconies,Porches,patios,exterior walls,exteTior
<br /> : daors and doar�vr�3rs,windows, elevaWrs:and me�ha�nical and�3WAC equipment, (col�ecti�ely, i
<br /> �e ��Repa�rs„)p�ovided sueh costs and expec�es are iiacurre'd"for repairs(i)not incurred fox
<br /> orataeiary wear and tear at t��,�opeTty and(ii)categorizesi under generally accepied accounting
<br /> pr�.oiples as a capital e�cpe�dse an,d not as an mperaring exgense. Cominencing on the fust
<br /> monthly PaYment Date under the Note and continuing thereafter on each monthly Paym�t Date
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<br /> m�thiy paymeat due under the Notc and until the Note and atl other indebtedness seaured
<br /> he�rieby is fully pa�d and performed,a deposit to ths Repl�cement Reserve in an amount equal to • ,
<br /> - - S3,OOg.00 per month. Sfl long as no Default or Event of Defautt�ereunder or under the other • .,°
<br /> ----_- Loan Documents has occurred Re ilacem��R�Se�tol�t�hye �I�����pe es ef ..���', , .'-:
<br /> held by Beae�eiary in the p . �';`
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