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200410247
<br />frost -- subject to Beneficiary's approval, which shall not be unreasonably withheld. If Truster fails to maintain
<br />the coverage described above, Benaticiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's
<br />rights in the Property according to the terms of this Deed of Trust.
<br />All insurance policies and ran ewals shall be acceptable to Beneficiary and shall include a standard "mortgage
<br />clause" and, where applicable, "honeticiary loss payee clause," Truster shall immediately ratify Beneficiary of
<br />cancellation or termination of the insurance. Beneficiary shall have the right to hold the policies and renewals, If
<br />Beneficiary requires, Trustor shall immediately give to Beneficiary all receipts of paid premiums and renewal
<br />notices, Upon loss, Trustor shall give irl mediate notice to the insurance carrier and Beneficiary. Beneficiary may
<br />make proof of loss if not made immediately by Trustor.
<br />Unless Beneficiary and Trustor otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged if the restoration or repair is economically feasible and Beneficiary's security is
<br />not lessened. If the restoration or repair is not economically feasible or Beneficiary's security would be Icssened,
<br />tire insurance proceeds shall be applied to the Secured Debt, whether or not then due, with any excess paid to
<br />Trustor, If Trustor abandons the Property, or does not answer within 30 days a notice from Beneficiary that the
<br />insurance carrier has offered to settle a claim, then Beneficiary may c -Ilect the insurance proceeds. Beneficiary
<br />may use the proceeds to repair or restore the Property or to pay the Secured Debt whether or not then due. The
<br />30-day period will begin when the notice is given.
<br />Unless Beneficiary and Trustor otherwise agree in writing, any application of proceeds to principal shall not
<br />extend or pnati one the due date of scheduled payments or change the amount of the payments. If the Property
<br />is acquired by Beneficiary, Trustor's right to any insurance policies and proceeds resulting from damage to the
<br />Property before the acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before
<br />The acquisition,
<br />B. Trustor agrees to maintain comprehensive general liability insurance naming Beneficiary as an additional insured
<br />in an amount acceptable to Beneficiary, insuring against claims arising from any accident or occurrence in or on
<br />the Property.
<br />C. Trustor agrees to maintain rental loss or business interruption insurance, as required by Beneficiary, in on
<br />amount equal m at least caverage of one year's debt service, and requir -d escrow account deposits lif agreed to
<br />separately in writing), Linder a form of policy acceptable to Beneficiary.
<br />22. NO ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, I rustor will not be
<br />required to pay to Beneficiary funds for taxes and insurance in escrow.
<br />23. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any financial
<br />statement or information Beneficiary may deem necessary. Trustor warrants that all financial statements and
<br />information Trustor provides to Beneficiary are, or will be, accurate, correct, and complete. Trustor agrees to sign,
<br />deliver, and file as Beneficiary may reasonably request any additional documents or certifications that Beneficiary may
<br />consider necessary to perfect, continue, and preserve Truster's obligations under this Deed of Trust and Beneficiary's
<br />lien status on the Property. If Trustor fails to do so, Beneficiary may sign, deliver, and file such documents or
<br />certificates in Trustor'. name and Trustor hereby irrevocably appoints Beneficiary or Beneficiary's agent as attorney in
<br />fact to do the things necessary to comply with this section.
<br />24. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Deed
<br />of Trust are joint and individual. If Trustor signs this Deed of Trust but does not sign the Evidence of Debt, Iulster
<br />does so only to mortgage Trustor's interest in the Property to secure payment of the Secured Debt and Trustor does
<br />not agree to he personally liable on the Secured Dart. Trustor agrees that Beneficiary and any party to [[us Decd of
<br />Trust may extend, modify or make any change in the terms of this Deed of Trust or the Evidence of Dam without
<br />Irustor's consent Such a change will not relaaase Trustor from the terms of this Deed of Trust. The duties and
<br />benefits at this Dead of Trust shall bind and benefit the successors and assigns at Irustor and Beneficiary,
<br />If this Deed of Trust secures a guaranty between Beneficiary and Trustor and does not directly secure the obligation
<br />which is guarantied, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim
<br />against Trustor or any party indebted under the obligation including, but not limited in, anti - deficiency or one - action
<br />laws.
<br />25. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Dead of Trust is governed by the laws of the jurisdiction
<br />In which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the
<br />Property is located. This Deed of Trust is complete and fully integrated. This Deed of Trust may oat be amended of
<br />modified by oral agreement. Any section or clause in this Dead of Trust, attachments, of any oyreement related to the
<br />Secured Debt that conflicts with applicable law will not be effective, unless that law expressly of impliedly permits the
<br />variations by written agreement If any section or clause of this Dead of Trust cannot be enforced according to its
<br />terms, that section or clause will be severed and will oat affect the enfureeability of the remainder of this Deed of
<br />Trust. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the
<br />sections of this Deed of Trust are for convenience only and are not to be used to interpret or define the terns of this
<br />Deed of Trust. -lime is of the essence in this Dead of Trust.
<br />26. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's Option, may from time to time remove Trustee arid appoint a
<br />Successor trustee by an instrument recorded in the caunty in which this Deed of Trust is recorded the successal
<br />trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon the
<br />Trustee by this Deed of Trust and applicable law,
<br />(page B of 8)
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