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200304525 Unless Ueneficiary and Truster otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged if the restoration or repair is economically feasible and Benaticiary's security is not lossened. If the restoration or repair is not economically feasible or Beneficiary's security would be lessened, the insurance proceeds shall be applied to the Secured Debt, whether or not than due, with any excess paid to Truster. If Trustor abandons the Property, or ones not answer within 30 days a notice from Beneficiary that the insurance carrier has offered to settle a claim, then Beneficiary may collect the insurance proceeds. Beneficiary rimy use the proceeds to repair or restore the Property or to pay the Secured Debt whether or not then due. The 30 -day period will begin when the notice is given. Unless Beneficiary and Truster otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due dale of scheduled payments or change the amount of the payments. If the Property is acquired by Beneficiary, Truslor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Beneficiary to the extent of the SsnorAd Dart immediately before the acquisition, B. Irustor agrees to maintain comprehensive general liability insurance naming Beneficiary as an additional insured in an amount acceptable to Beneficiary, insuring against claims arising from any accident or accurenoe in or on the Property. C. Truster agrees to maintain rental loss or business interruption insurance, as required by Beneficiary, in an amount equal to at least coverage of one year's debt service, and required escrow account deposits (if agreed to separately in writing), under a form of policy acceptable to Beneficiary. 21. NO ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, I rr. tmr will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 22. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Trustor will provide to Beneficiary upon request, any financial statement or information Beneficiary may doom necessary. Trustor warrants that all financial statements and information Trustor provides to Beneficiary are, or will be, accurate, correct, and complete, Trustor agrees to sign, deliver, and file as Beneficiary may reasonably request any additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve Truster's obligations under this Deed of Trust and Beneficiary's lien status on the Property. If Trustor fails to do so, Beneficiary may sign. deliver, and file such documents or certificates in Truster's name and Trustor hereby irrevocably appoints Beneficiary or Beneficiary's agent as attorney in fact to do the things necessary to comply with this section. 23. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Deed of Trust are joint and individual. If Trustor signs this Dead of Trust but does not sign the Evidence of Debt, Trustor does so only to mortgage Truster's interest in the Property to secure payment of the Secured Debt and Trustor does not agree to be personally liable on the Secured Debt. Truster agrees that Beneficiary and any party to this Deed of Trust may extend, modify or make any change in the terms of this Deed of Trust or the Evidence of Debt without Truster's consent Such a change will not release Trustor from the terms of this Decd of Trust. The duties and benefits of this Deed of Trust shall hind and benefit the successors arid assigns of Trustor and Beneficiary. If this Deed of Trust secures a guaranty between Beneficiary and Trustor and does not directly secure the obligation which is guarantied, Trustor agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Tmsmr or any party indebted under the obligation including, hilt not limited to, anti - deficiency or one - action laws. 24. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. this Deed of Trust is governed by the laws of the jurisdiction in which Beneficiary is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Deed of Trust is complete and fully integrated. This Deed of Trust may not be amended or modified by oral agreement. Any section or clause in this Deed of Trust, attachments, or any agreement related to the Secured Debt that conflims with applicable law will riot be effective, unless that law expressly or imphadly permits the variations by written agreement. If any section or clause of this Deed of Trust cannot be enforced according to its terms, that saction or clause will be severed and will not affect the enforceability of the remainder of this Deed of Trust. Whenever used, the singular shall include the plural and the phlral the singular. The captions and headings of the sections of this Deed of Trust are for convenience only and are not to he used to interpret or define the terms of this Deed of Trust. Time is of the essence in this Deed of Trust. 25. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee by an instrument recorded in the county in which this Deed of Trust is recorded The successor trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon the Trustee by this Dead of Trust and applicable law. 26. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail To the appropriate party's address on page 1 of this Deed of Trust, or to any other address designated in writing. Notice to one Irustor will be deemed to be notice to all trustars.�/C) /� /' /L., •�,jJ'N , Erg /. lOa9e b of 81 993, 3001 eanknrs 5yrtemc lrc., SC CIOUa MN FOini AGCOAE E 1 /[OVI / {! _l �✓