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<br /> a. Peyment ot Irsdebtedneaa. Tiustor ahep promptty pey or cauae to be ps!d when due the Obligedona nnd o//other Mdebtedneas. The �.
<br /> Tiusto►ahall also prompt/Y and lalthlull y oDservo ed of!ts obllgations unde�any other deed ol truat encumbering al/or port of tho Trust �n
<br /> Pioperty ond,!l sppUcable,eny promissary no�e,gua►anry,or other term of contiectual/ndebtedneas aecrosd by auch othei deed o/truat. �-
<br /> whether/unlor o►aenlo�to the flen of thla Deed ol7iust,end any othe�obligatlons aecured by n llan on the Tivat Pioperty,whether o�i.t�ng _ _
<br /> consonsually or by opererlon ollaw. �
<br /> ' 3. ConaPnrctfon ollmRrovemonta.Tiustor shall complete in good and wodcmonlfko manner any bu/ld/nga,lmprovomonta or ropal��roloHng _
<br /> thoroto whlcl►moy be tregun on the Tivat P�operty or contemplated by the ObNgot/ons aocured horeby,to pny when duo oll costa und .„
<br /> llabllitJoa lncurred there/or,and not to pe�mlt any conRtiuctlon Nen egalnst euch Tiust Property. /n the event constnictlon ol bu/ldings,
<br /> /m p r o v o m e n t s o r r e p a l i s a re c o n tem plated, Tivator a/so vgrees,anything!n thJs Deed ol Tiast ro tho contrary notwlthatnnding;fol to iT�`,""
<br /> planapend speci/'ceeo aYasuapprovod by Bonel/c�ary,fcl�o comply wlth�all the terms o/e bulld/np loan o rgreement�/eny batwoeii Tiu`stoih�
<br /> and Beneflclsry,the tenns ol whlch ere lnco�po►eted hereln by re%rence and made e part heieo%fd!to olfow Bonoliclnry to enspect tho Trust �;_;_
<br /> ' Aroperty at a!/t/mes duNng conatrocNon,and fe)to ieplace any work or materisls uasatlstectory to Banollclary wlthin 1l/teen(i61 days a/ter __
<br /> wrltten notice fiom Baneflclary of such lacP. •.
<br /> �.�-:_.
<br /> !=�-� ' 4, Pwnda lor Peyment o/Chs�g ea.I/requested at any dme or Imm Gme to t/me by the BenellcJary Tivator shall pe y to Boneflclery on the �__,
<br /> rn , !"� /list day ol each month,or auch other date each month as may be apeclAed by Benel/elary,ant!/the Ob1lgallons are pald/n ful/,a sum ry,,
<br /> „ � . � Q (herelna/ter rhe"Fundc"J equa/to 1/f2th of the yeady taxes and essesaments whlch may atteln prlorlty ove�thls Oeed ol Tiust and ground -
<br /> rents on the Tiust Property,If any,plus 1/12M of the yearlv p�em/um installmenta 1or hezard/nsu�enco,plus f/12th oJ the yee�l y premlu►» ._;�,:
<br /> �� � l n s c a l/m e n t s f o r m o r t g a ge Insurance,lf an y, all as reesonably estlmated lnitla/!y and lrom Ume to time by Benel�cinry on the basls ol =
<br /> assesaments and bil/s and ieasonable est lmates thereof.The Funds sha!/be held!n an lnstltut lon,t he depoa i t s o r a c c o u n t s o f w h l c h e�e
<br /> � lnsured o�guarenteed Ay a federal or state agency Inc/udlnp Beneflclery. Benellclary shall appry the Funds to pay sald taxes,essessments, ':=
<br /> ' <- � I n s u r a n c a prem/ums end g�ound renfs.BeneAc1sry ahaN not be requlred to pay Tiustor anylnterest or earnings on the Funds.Beneflclary&hall
<br /> glve to 7resior,wlthout charge,an annua!aceoan dng o f t he Fun ds s hew in g c r e d l t s a n d d e b i t a t o t h e F u n d s a n d t A e p u rp o s e l o►whlah each p N_�__
<br /> �� t deblt to the funds was made. The funds aie pledged as addltlonal securlry Ior the Obl!gatlons secured 6y th/s Deed o/Tiust N the amount E-
<br /> � o/the Funds he/d by Benepclary,together whh the future month/y/natal/ments of Funds payab/e pdor to tAe due dates o/taxes,
<br /> assesaments,lnsuienca premlums end g�ound rents,shall exceed the amcunt iequlred to pay sald texes,assesaments,lnsurance premlums ���
<br /> � end ground renta as they fel/due,such excesa shaR be,at Tiasto�s opt/on,elther prompUy repald to Tiuvtor a credlted to Tiustor against �,
<br /> luture inonthly lnstallments o/Funda./1 tha amount ol ihe funds he/d by Bene/%!ary shall not be suNlclent to pay taxes,essesaments, -_
<br /> Insuraace premlums end g�ound ients as thoy la!!due, Tivator ahal/pey to Beneflclary any amount necessary to make up the deflclency ;.�:,,,,_
<br /> `` withln rhlrty days liom the date noGce!a naailed by BeneNclary to Tiustor requeaNng payment thereof.Upon payment in!u!l ol eJf
<br /> ' � Ob!lgations,Bene/lcJary shall prompNy�elund to Tiustor any Funds held b y BenoAclary.lI the Tiust Pioperty!s so/d under the power ol sa/a �-r=:-
<br /> or the Tiusr PropertY is othervvlse acqulred by BeneHclary,Beneflelary ahal/eppiy,lmmadlatefy prio�to the sale ot the Tiust Propen y or lts -
<br /> acqulsitlnn by Ber+eliclary,any Funds heid by BeneAclary et the tlme of appllcatJon as a cred/t aga/nst the Ob/lgatlons.lt Benellclary executea
<br /> �„ a written waiver ol Tiusior's obligaUona ende�this Secdon, Tiustoi covenanta and egiees to pay,before the same become dellnquent al/ f :`
<br /> taxes,essessments,lnsurance premlums,ground re»es,end al/othe�charges whatsoever levled upon or asseased,placed o�made agalnst l
<br /> the Tiust Piaperty. Tiusto�further agrees, upon w�lnen repuest by BeneAdery,ta prompt! dellver to BeneNclary a//recelpts/or the pe Yment f
<br /> •�� � o measure by,th s Deed o/Tiust oi the reco�ailonxhemo�esaments and other charges�evlsd upon oi a9sessed,pleced or made age inst, �.';
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<br /> 6. App//cetlon o/Peym oMa.A//payments iecelved by BeneBclary es to eny debt,/labQity or obl/gadon owad ro BeneNclery by Tiustori»ay Q�
<br /> bs app!!ed by Beneflclery to the payment of the ObllgeNons!n an y order or manner o/appl/catlon whlch Beneflciary,!n!ts abso/ute dlscretJon, f .
<br /> . � deems approprJate. -
<br /> .�" � 8. CAergas;L/ena.Trustor wlll keep the Tiust Propeity fiee/rom alf llens and encumbrences,whether pr/or or sabordJnate ro thls Deed of
<br /> Trvsf,othnr�han the Nen oI current real este►e taxes and lnstal/menta o/ot//clal assessments wlth reapect to wh/ch no penalry!s yet
<br /> `� payab/e;provlded,however,thet Tnistor need not dlscAarge any such lien so lvr+y an Trastor shalt ag:ce,!rr::ddn8.M Y thn ablloallon ,
<br /> aecured by auch llen!n a mannei acceptab/e to Beneflclary and shaQ In good/alth conteat such Ilen by appmp�Iate lega�proceedings eNective
<br /> to prevent the enfo►cemenr ot the/len or the/oss o1 any/ntereat/n o►part o/thd Trost Piope►ty,snd aha//e/so glve such reasonab/e seou�lry
<br /> � ol hels Deed o/Tmist end ol/costa end Nomeys'yleea lncuried by�Benenclery ntsald delenese shal!be re/mbuBS�by�Tiustoi o edded to`�e
<br /> ° Obligadons.
<br />- ' 7. Nazmd/nauronee. Tiustor shal/keep the bu!/dlnps and othe�lmprovements now exlating or herea/te�erected on the Tiust PiopertY
<br /> lnsured by/nsurence aanlers satlslectory:0 8enellclary agalnat/osa by/!m,ha:ards!ncluded in the temi'extended coversge"and such
<br /> �,. i.:, othe�ha:ards,casua/tles and conUngencles,/nc/udJng war damage insurence,as may be iequ/ied by Beneqc/ary,/n such amounts ond foi
<br /> � ��-"''�� such peNods as mep be iequlred by Benoflclary. Tha pollcy ol lnsuience shal/be!n form accepteble to Benef/clary and shal/not contain a
<br /> de%nae based on coinsu�ence,end shell contaln t/+e ateadaM pmvlslon that no act ol the 8eneflclary or of the Beneflc/ary's agente or
<br /> representedves wlll render the pollcy vold aa to the Benef/clary or aNect the BeneAclsry's dght to recover/n case oJ/oss,and Me polkyyy or
<br /> . , ' .•�� poQc%s shad p ov s o�jn levor of end%fom►ecceptaMe t BenJe1lclsry.AIl p Hmluma on�nauAance p�1es h 1l be paid ln�he man erave
<br /> • loss paya6lo p
<br /> � ��; provided ander the Secdon e»tltled Funds lor Payment of Che►8es'heieln or,i/not pa1d/n sueh manner,by Tinsta►mak/ng peyment at
<br />.�'.:�•,:;.;•`' least!lfteen(f S!days pdor to the due dete,d/reet/y to the lnsurarree aarder.BeneNelary ahal/have the dghi to ho/d the pollcies end ienewals
<br /> =•r-=*-- thereof and Tiusto�sha!/promptN lumish to Bene9e%ry ell renewe!nodces and al/pald premlum recelpts recelved by JL!n no event aha/1
<br /> BeneNclary o�liustee be held responslble 10�/ellure to pey Insuranee prem/ums or 1or eny/osa or damege ailsing ont ot a defect!�any
<br /> 4 po/!cy or aNsing out af any ie!/�re of any lnsurance company to pay!hr any/oss o�damage/nsmed againat or for/a//ure by Tiustor to eHect
<br />-�r rr'�S�� the insu�ence�equfred hereunder./n the event of/osa,Truator shel/glve prompt nodce by ma//to the insuronce carrfe�and Beneflclary
<br />- *Y?•� -�- BeneAclary iney meke prvol of loss il no[made p�nmpUy or in proper lam�by Tiustor.A/!pollcles ot lnsurenco and any and all re/undt of
<br /> '��"' unsamed prem/uma are harebY ass/rted to BeneHclery as addidonel security/or the paYment ol the OblJgadons./n tha event o1 Benelkiary's
<br /> .—: X >W� 9
<br />-'��.�:�� } exe�clsa ol the power of sale eontalned hereln,or Jn the event of foreclosure el/ilghP,Ude amd laterest ol Tivator In and to sny nsurence
<br />' �"�" pollcy then/n foae shsll pass to the purcheser at the trtrstee's sa/e or foreclosure sale./n case of any loss, the/»sa�snce pioceeds may,at
<br />_'�; -�•j the optlon of Beneflelary,be ePPded by BeneNelary upen the ObligaUona,or any part theieot,and!n such order and emaunt as 8eneficlary
<br /> ��•5"•� may determine;or sald lnsurance pmceeds,at the optlon of 8enefielary,ma y elihe►be nsed/n replacing or restodr+g the Tivat PmpenY � _.
<br /> '�`���•�•-• ' parda!!y oi total�destioyed to a condlNon sadsfactory to Beneficlary;or sald lnserence proceeds,or sny portlon theieof,ma y be released to
<br />- =� ��:� Tiusior.Unless aneflolery end Tiasro�otherwise agrse In wddng,any such eppAcat/on ol tnsuranae proeeeds ahall not extend or postpone
<br />-� `' ' ' the due date of any note oi ag►eement evidencJng the Ob1lgeUons or anylnstal/ments cel%d/or Me�e/n,or change the arrrount of such _
<br /> �b,�:.s.^;°.:. InstBlfinents.1/the Tiust Property/s ec4ulred by B9neNclary Pursuant to the exerclse o/the power ol sale or other faecfosure,a!/rIgA4 dtle _
<br />_•=q��`�-�+�-� and lnterest of Trusto�ln and to a»y Insurance p►oceeds payabfe as a iosult ol damage to the Tiust Hope►ty pdor to Me sefe a acq�islt/on __
<br />� "''�`''' �hsl/pass to BeneNclary ead shall be app/!ed Hrat to Me costs and expenses,!ncludlng attomeya /eea,lncurred!n collecting such proceeds,
<br /> �``� •�hr� • then!n tAe menner end!n the order provlded hereln.Nolwlthstanding anythlng contalned in thls Sectfon to the contrary,Jl thls Desd o/Tnrst
<br />��;;'"'�-��- !s on e condominium or a town house and there!s a master/asaiance poqcy!n Ioice cove�lng rhe commo»areas and lae!liUes end all �
<br /> �� condominlums and town houses located!n thet developm�nt,then,ernless otheiwlse notlNed Jn wifNng by the 8eneflclary,the Trosio►shall
<br />- ;,�,; �� have no ob//gatJon to malnta/n the/nsurance repuired hereunde�and wll/asslgn ed beneNts andproceeds rece/ved Hrereon to the Beneflc/ary
<br />- � and,In the BenefJelary'a so/e d/scre8on,name the BeneNcJa►v es Me named/nsared on sald pollcy. Whenever such lnsurance!s!n Po�ce
<br /> � • (regaidless o/whethe�requeated by the BeneNclery or not)the Tivato�herebY authorlres the Benef/elery to caneel such lnsurance whenever _
<br /> "���'� •° • the Beneticlary deisrmines rher such Insuranee does noi adequatety p�otect the BoneAclery s inieresL �
<br /> �� 8. Pmservetfan aad A9elrrtenance of�iriat�roaertl.Tiustor wl//keep the bufldings and oiher lmprovements now or hereafter erected on the ---
<br /> �;- Trost Property!n good repa1r and condltfon,ordlnary dep�cladon excepted,and sha//provlde aH utlUty servlees nocessary/or the operatlon =__
<br /> ` and pressrvation o/fhe Tiust Property.Tivator w!l/not commN or permit waste,wlfl nor e/ter ihe desfgn or atnrctu►el cherecre�conadtuNng -
<br /> any bullding now or heieahei erected on and tonadtuting Me Tiust Pnperty wfthout the pdoi written consent olBeneNclary,wll/not do any �
<br /> } ect o�thing which wou/d unduly fr»peli oi depioclate d+e va/ue ot the Trost Prope�and wll/not abendon the Yrust Property. Tiusto►will not `
<br /> � iemove eny t/xtures consUtuGng the Tinst Hioperty unless the seme are lmmedlate y replaced wlth/Ike prope►tY subJect to the llen snd �
<br /> securlty lnterest o!thls Deed ol Truat aad ol et least epual value and udlity.Tiustor w!I!comply wlth all presenr end future ordl»ances. _;:f
<br /> � reguladons end requ/rementa of an y govemmental body whlch are epplicable to ths Tiust Property and to the occapancy and ese thereol.lt
<br /> - thls Deed of Tiust Is on o unit/n e condvminlum or a pla»ned unit development Tiustor shall perform all of Tiustor's obllgaHons under the
<br /> � � declaredons or cove»ants creadng orgovem,ing the condomfMum or Me planned unit development the bylaws snd reguladons of tAe _�.
<br /> y- - --=----:.....�..�.,.,od n„!r daveJcnme»L end Me consdtuent dxuments. �
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<br /> �Y g /napecdon.Benerclary or/ia egents nray,at ap ieasonab/e dmes,enter upon the Tius►YropenY ior me pvrpose vi ii.a��•����•n• -;_
<br /> but not l/mfted to environmentel testln9. BeneAclary ahall have no duty ro make such/nspecilon end ahall not bs Ilable to Tiustor or to nnY Q
<br /> . person/n possesalon f/!t makos or fe1ls to maka any auch laspesdon.
<br /> � f0. Protectlon of Seea�lfY. �l 7rusto�talls ro perlorm any of the covenanta end agreements conielned!n this Deed o!Trust,or il any aatlon
<br /> or proaeeding Is commenced wh/ch does or me y edverae/y a//eet the Tiust Pnvperty or[he lnterest o/Tiustor or Beneficlary thereln or the
<br /> ° UUe o/Tiustor thereto,the»Be»elielary,et!ta opdon,may Re�m►sueh eovenents and agreaments,meke such appeareaces,dofend egalnst
<br /> end/or lnvestfgato+such actJon or proeeeding ond take such other actfon es BeneNclary deems necessery to protect!ts lnterest includng,byt
<br /> not darRed to,dlsbnrsament o/ieasonable eKomeys'taes sad entry upor+the Tiust Proparty ro moke repolre.Any omounta distruissd o�
<br /> lncuned by Benellclary purguant to fh/s Secdon,/.�c/uding,brK notlli»lterJ to,reasonaWe attomoys'1ees, wRh Interest thereon,shal!
<br /> constltuto add�tlonal OD/igat:ons aecmed DY thla Deed o/Tiust.Boneflclary/s hereby givon on firevoceble power ol attomey/whfch power F,�
<br /> ° coupfod wltA en lnterest for purposes o/aetudryJ to ente�upon the Tiust Property es the Trosror's agent snd/n the Tiusror'a name to
<br /> ' por/om►ony and al!eovvnants and epreoments to De peilformed by the Trustor as herein p�vvlded. t/Mess Trustor and BeneNclary eg►ee to
<br /> other tentts otpaymant,suc�►amounta shell Ce pa ynDle uAon nvtfce lrom Benellclary ro Trustor re4uesUng paymont thereol,end sAo//boar
<br /> ' lntorest Irom thv dam o/dlsbursvnront or the date lneurred oi the rate set lortA/n the Note or the rere provided In tAe most recenr otrt!B atloa
<br /> covered by the Guaronty,unles8 payment ol interest ot sueA iete wou/d bo controry to spp/leable low,in wAfeh event anch smonnta shal/
<br /> boar lntsrest ot the hJghest rote permitted Dy e�pllcable/aw.Nothing contalnad!n thls paragraph shall repulre Berteliclary to lacur anY
<br /> oxpense or toke eny ecNon hereunder.Benope ory shnll,ot 1ts op8on,be subrogated to sn y encurnbrenco Ilen,elalm or demand rtnd t4 s!f
<br /> " r!g hts and socudtles/o►thn paYment the►eoI Pa1d or d/acho�ged Dy Benerclary under the provlslo»s hereol and ony such subragotJon if Pe$ 2 0l S
<br /> shol!bo oddltlonal snC cumu�otive secuRry lor th/a Deed of Trost. �
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