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, . 99 ios� 5 � Loan Documents, and shall perform each and every obligation required of Trustor pursuant to the Project Loan Documents . 3 . TAXES . Subject to the provisions of the following paragraph, Trustor shall pay each installment of all taxes and special assessments of every kind, now or h�reafter levied against the Trust Estate or any part thereof, before delinquency, without notice or demand and shall provide Beneficiary with evidence of the payment of same . Trustor shall pay all taxes and assessments which may be levied upon Beneficiary' s interest herein or upon this Deed of Trust or the debt secured hereby, without regard to any law that may be enacted imposing payment of the whole or any part thereof upon the Beneficiary. In order to secure the performance and discharge of Trustor' s obligations under this paragraph, and in the event and solely in the event of a failure to comply with the material conditions set forth in this Section 3 , Beneficiary may, upon written notice to Trustor require Trustor to pay over to Beneficiary an amount equal to one-twelfth (1/12th) of the next maturing annual ad valorem taxes, assessments and charges (which charges for purposes of this paragraph shall include, without limitation, water and sewer rents) for each month that has elapsed since the last date to which such taxes, assessments and charges were paid; and Trustor will in addition pay over to Beneficiary, together with each installment on the Note, sufficient funds (as estimated from time to time by Beneficiary in its sole discretion) to permit Beneficiary to pay when due said taxes, assessments and charges . In the event that Beneficiary so elects to require the foregoing escrow conditions, all other payment obligations pursuant to this Section 3 by Trustor are superseded wherever inconsistent with the escrow conditions . Beneficiary shall have the right to rely upon tax information furnished by applicable taxing authorities in the payment of such taxes and shall have no obligation to make any protest of any such taxes . Upon demand by Beneficiary, Trustor shall deliver to Beneficiary such additional monies as are required to make up any deficiencies in the amounts necessary to enable Beneficiary to pay such taxes, assessments and similar charges . Such deposits shall not be, nor be deemed to be, trust funds, but may be commingled with the general funds of Beneficiary, and no interest shall be payable in respect thereof . In event of a default under any of the terms, covenants and conditions in the Note, this Deed of Trust, any of the Project Loan Documents, or any other instrument securing the Note to be kept, performed or observed by Trustor, Beneficiary may apply to the reduction of the sums secured here�y, in such manner as Beneficiary shall determine, any amount under this paragraph remaining to the Trustor' s credit . The conveyance or transfer of Trustor' s interest in the Mortgaged Property for any reason (including, without limitation, the foreclosure of a subordinate lien or security interest or a 5