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202305434
<br />mortgage clause in favor of Beneficiary. In the event any policy hereunder is not renewed on or
<br />before fifteen (15) days prior to its expiration date, Trustee or Beneficiary may procure such
<br />insurance, pay the premiums therefor, and such sums shall be immediately due and payable
<br />with interest at the higher rate of the default rate or base rate as provided in the Note until paid
<br />and shall be secured by this Deed of Trust. All policies of insurance required by this Deed of
<br />Trust shall be delivered by Trustor to and retained by Beneficiary, unless Beneficiary consents
<br />to other arrangements in writing. Failure of Trustor to furnish such insurance, or renewals as are
<br />required hereunder, or failure to timely repay any sums advanced hereunder shall, at the option
<br />of Beneficiary, constitute a default. All unearned premiums are hereby assigned to Trustee as
<br />additional security and a sale and conveyance of the Trust Estate by the Trustee shall operate to
<br />convey to the purchaser the Trustor's interest in and to all policies of insurance upon the Trust
<br />Estate.
<br />4. DESTRUCTION. In case of any damage to or destruction or taking or
<br />condemnation of the Trust Estate, including the buildings, improvements or personal property
<br />constituting part of the Trust Estate, whether such loss is covered by insurance, condemnation
<br />proceeds, or otherwise, Beneficiary shall have the right to apply any insurance proceeds or
<br />other recovery related to said Toss to a reduction in the indebtedness hereby secured or to
<br />require Trustor, at its sole cost and expense, to promptly restore, repair, replace and rebuild the
<br />same as nearly as practicable to its condition immediately prior to such damage or destruction
<br />or with such changes and alterations as Trustor and Beneficiary mutually agree upon, provided
<br />such changes and alterations do not diminish in any way the value and utility of such buildings,
<br />improvements and personality from that existing immediately prior to such damage or
<br />destruction. Trustor shall be entitled to reimbursement from the Trustee to the extent of the net
<br />insurance proceeds received by Trustee, not exceeding however, the actual sum expended by
<br />Trustor under this provision.
<br />5. MAINTENANCE. Trustor will not commit any waste upon the Trust Estate and
<br />will, at all times, maintain the same in good operating order and condition and will make, from
<br />time to time, all repairs, renewals, replacements, additions and improvements which are
<br />necessary to such end. No building or improvement now or hereafter erected upon the Real
<br />Estate shall be altered, moved or demolished without the prior written consent of Beneficiary.
<br />6. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest
<br />any action or proceeding purporting to or which may in fact adversely affect title to the Trust
<br />Estate or the security or priority hereof or the rights or powers of Beneficiary or Trustee; and
<br />Trustor shall indemnify Trustee and Beneficiary from all costs and expenses, including cost of
<br />evidence of title and attorneys' fees, incurred by Trustee and Beneficiary in any such action or
<br />proceeding in which Beneficiary or Trustee may appear. Should Trustor fail to make any
<br />payment or to do any act as and in the manner provided in any of the Loan Instruments,
<br />Beneficiary and/or Trustee, each at its own discretion, without obligation to do so and without
<br />notice to or demand upon Trustor and without releasing Trustor from any obligation, may make
<br />or do the same in such manner and to such extent as either may deem necessary to protect the
<br />security hereof. Trustor shall, immediately upon demand therefor by Beneficiary, indemnify the
<br />Trustee and Beneficiary from all costs and expenses incurred by Trustee and Beneficiary in
<br />connection with the exercise by Beneficiary of the foregoing rights, including, without limitation,
<br />costs of evidence of title, court costs, appraisals, surveys and attorney's fees. Any such costs
<br />and expenses not paid within five (5) days of written demand shall draw interest at the higher of
<br />the default rate or base rate as provided in the Note.
<br />Trustor shall pay and promptly discharge, at Trustor's cost and expense, all liens,
<br />encumbrances and charges imposed upon the Trust Estate, or any part thereof or interest therein.
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