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200300520 (ii) to the Obligations, in such order as Beneficiary may determine; and (iii) to Truster. If an Event of Default has occurred and is continuing at the time Truster receives the Insurance proceeds, Beneficiary may, at its option, require the Truster to apply the Insurance proceeds to the foregoing items in whatever order Beneficiary shall see fit. All such Insurance proceeds shall constitute additional security hereunder. (c) Any application of Insurance proceeds to the Obligations shall not extend or postpone the due date of any payment of the Principal Amount pursuant to the terms and conditions of the Note, or cure any Event of Default hereunder unless agreed in writing by Beneficiary. If all or any part of the Trust Estate is acquired by Beneficiary under the provisions of this Deed of Trust, Truster's right to Insurance proceeds resulting from damage to the Trust Estate prior to its acquisition by Beneficiary shall pass to Beneficiary to the extent of the Obligations immediately prior to such acquisition. (d) Truster shall not obtain or carry separate insurance which is concurrent in Rim or contributing in the event of loss with the Insurance, unless Beneficiary is named as mortgagee and loss payee with respect thereto, with losses payable in the same manner as the Insurance. Truster shall notify Beneficiary at least thirty (30) days prior to obtaining any such separate insurance and shall deliver to Beneficiary the policies or certificates evidencing such separate insurance immediately after they are issued. (e) Beneficiary shall not be deemed to have incurred any liability or assumed any responsibility for or with respect to the amount of Insurance carried by Truster, the form or legal sufficiency of the Policy, the solvency of any Insurance companies, or the payment or defense of any lawsuits, as a result of having approved, disapproved of, accepted, prevented, obtained or failed to obtain any Insurance, and Truster acknowledges that all such liabilityand responsibility shall remain with Truster. 6. REMEDIES NOT EXCLUSIVE. No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. Every power or remedy provided hereunder by this Deed of Trust to Trustee or Beneficiary or to which either of them maybe otherwise entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Beneficiary and either of them may pursue inconsistent remedies. Nothing herein shall be construed as prohibiting Beneficiary from seeking a deficiency judgment against the Truster to the extent such action is permitted by Governing Law. 7. EVENTS OF DEFAULT. Any of the following shall be deemed an Event of Default hereunder: (a) That date which is thirty (30) days after notice of the breach by Trustor of any term, covenant, agreement, condition, provision, representation or warranty set forth in this Deed of Trust, provided such breach is not corrected within such thirty (30) day period, or, if such breach or 001257754 -6-