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99-s�s13� . , � deemed a trustee of said funds or to be obligated to pay any amounts in excess of the amount of funds deposited with Beneficiary pursuant to this Section 1. 8. Beneficiary shall not be obliged to pay or allow any interest on any sums held by Beneficiary pending disbursement or application hereunder and Beneficiary may impound or reserve for future payment of Impositi�ns such portion of such monthly payments (including principal, interest and all escrow payments) as Beneficiary may in its absolute discretion deem proper, applying the balance on the principal of or interest on the obligations secured hereby. Should Grantor fail to deposit with Beneficiary (exclusive of that portion of said payments which has been applied by Beneficiary on the principal of or interest on the indebtedness secured by the Loan Instruments) sums sufficient to fully pay such Impositions at least thirty (30) days before delinquency thereof, Beneficiary may, at Beneficiary's election, but without any obligation so to do, advance any amounts required to make up the deficiency, which advances, if any, shall be secured hereby and shall be repayable to Beneficiary as herein elsewhere provided, or at the option of Beneficiary the latter may, without making any advance whatever apply any sums held by it upon any obligation of Grantor secured hereby. Should any default occur or exist on the part of Grantor in the payment or performance of any of Grantor's and/or any guarantor' s obligations under the terms of the Loan Instruments, Beneficiary may, at any time at Beneficiary's option, apply any sums or amounts in its hands received pursuant hereto, (including, without limitation, sums received pursuant to this Section 1.8 (e) and Section 1. 4) or as rents or income of the Premises or otherwise, upon any indebtedness or obligation of Grantor secured hereby in such manner and order as Beneficiary may elect. The receipt, use or application of any such sums paid by Grantor to Beneficiary hereunder shall not be construed to affect the maturity of any indebtedness secured by this Deed or any of the rights or powers of Beneficiary under the terms of the Loan Instruments or any of the obligations of Grantor and/or any guarantor under any Loan Instruments. (f) Grantor covenants and agrees not to permit or initiate the joint assessment of the Property, Personal Property, or Improvements or permit or initiate any other procedure whereby the lien of the real property taxes and the lien of the personal property taxes shall be assessed, levied or charged to the Premises as a single lien. (g) If requested by Beneficiary, Grantor shall cause to be furnished to Beneficiary a tax report covering the Premises of the type, duration and with a company reasonably satisfactory to Beneficiary. 1.9 Utilities. That Grantor agrees to pay when due all utility charges which are incurred by Grantor for the benefit of the Premises or which may become a lien against the Premises for gas, electricity, water or sewer services furnished to the Premises and all other assessments or charges of a similar nature, whether public or private, affecting the Premises or any portion thereof, whether or not such taxes, assessments or charges are liens thereon. 1. 10 Compliance with Laws, Ordinances and Requlations. (a) To keep and maintain the Premises in compliance with, and shall not cause or permit the Premises to be in violation of any federal, state or local laws, ordinances or regulations including, without limitation, those relating to zoning, building, occupational safety and health, industrial hygiene and to environmental conditions on, under or about the Property, including but not limited to soil and ground water conditions. Grantor has obtained and shall preserve and keep in full force and effect all requisite zoning, utility, building, health and operating permits from all applicable governmental authorities and Grantor shall -9- I