Laserfiche WebLink
99- 1�szs9 <br /> TO PROTECT THE SECURITY OF THIS DEED OF TRUST: <br /> 1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the interest on, <br /> the indebtedness evidenced by the Notes, charges, fees and all other sums as provided in the Loan <br /> Instruments. <br /> 2. TAXES. Trustor shall pay each installment of all taxes and special assessments of every kind, now or <br /> hereafter levied against the Trust Estate or any part thereof, before delinquency, without notice or <br /> demand, and shall provide Beneficiary with evidence of the payment of same. Trustor shall pay all taxes <br /> and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust or the <br /> debt secured hereby, without regard to any law that may be enacted imposing payment of the whole or <br /> any part thereof upon the Beneficiary. <br /> 3. INSURANCE AND REPAIRS. The Trustor shall obtain and keep in full force and effect during the <br /> term of this Deed of Trust at their sole cost and expense, insurance against loss by fire, lightening and <br /> risk customarily covered by standard extended coverage endorsement, including the cost of debris <br /> removal, together with a vandalism and malicious mischief endorsement, all in the amounts of not less <br /> than the full insurable value or full replacement cost of the improvements on the Premises, whichever is <br /> greater, and flood insurance in the maximum obtainable amount unless evidence is provided that the <br /> Premises are not within a flood plain as defined by the Federal Insurance Administration, and rent and <br /> rental value insurance covering risk of loss due to the occurrence of any hazards insured against under <br /> the required fire and extended coverage insurance in an amount eyual to guaranteed income from the <br /> Premises for a period of one year and based upon estimate of annual income from leases of the Premises <br /> as the Beneficiary may reasonably estimate. Such insurance policies shall be written on forms and with <br /> insurance companies satisfactory to the Beneficiary, shall name as the insured parties the Trustor and the <br /> Beneficiary as their interests may appear as BENEFICIARY/LOSS PAYEE, shall be in amounts <br /> sufficient to prevent the Trustor from becoming a co-insurer of any loss thereunder, and shall bear a <br /> satisfactory beneficiary clause in favor of the Beneficiary, with loss proceeds under any such policies to <br /> be made payable to the Beneficiary. The Trustor shall also obtain and keep in full force and effect during <br /> the term of this Deed of Trust comprehensive general public liability insurance covering the legal <br /> liability of the Trustor against claims for bodily injury, death or property damage occurring on, in or <br /> about the Premises in such minimum amounts and with such minimum limits as the Beneficiary may <br /> reasonably require. All required policies of insurance or acceptable certificates thereof, together with <br /> evidence of the payment of current premiums thereof, shall be delivered to the Beneficiary. The Trustor <br /> shall,within thirty(30)days prior to the expiration of any such policy, delivery other original policies or <br /> certificates of the insurer evidencing the renewal of such insurance together with evidence of the <br /> payment of current premiums therefor. In the event of a foreclosure of, this Deed of Trust or any <br /> acquisition of the Premises by the Beneficiary, all such policies and any proceeds payable therefrom, <br /> whether payable before or after a foreclosure sale, or during the period of redemption, if any, shall <br /> become the absolute property of the Beneficiary to be utilized at its discretion. In the event of foreclosure <br /> or the failure to obtain and keep any required insurance, the Trustor empowers the Beneficiary to effect <br /> insurance upon the Premises at the Trustor's expense and for the benefit of the Beneficiary in the <br /> amounts and types aforesaid for a period of time covering the time of redemption from foreclosure sale, <br /> and if necessary therefore, to cancel any or all existing insurance policies. The Trustor agrees to furnish <br /> the Beneficiary copies of all inspection reports and insurance recommendations received by the Trustor <br /> from any insurer. <br />