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200505400 interest, or to agree to do so, without the written consent of BENEFICIARY being first obtained, and (0) all payments and monetary obligations required of the owner of SUCH PROPERTY under any declaration of covenants, conditions and restrictions pertaining to SUCH PROPERTY or any modification thereof. Should TRUSTOR fail to make any such payment, BENEFICIARY, without contesting the validity or amount, may elect to make or advance such payment together with any costs, expenses, fees or charges relating thereto, including employing counsel and paying his reasonable fees. TRUSTOR agrees to notify BENEFICIARY immediately upon receipt by TRUSTOR of notice of any increase in the assessed value of SUCH PROPERTY and agrees that BENEFICIARY, in the name of TRUSTOR, may contest by appropriate proceedings such increase in assessment. In the event of the passage of any law deducting from the value of real property for the purposes of taxation of any lien thereon, or changing in any way the laws for the taxation of deeds of trust or debts secured by deeds of trust for state or local purposes„ or the manner of the collection of any such taxes, so as to affect this Deed of Trust, the holder of this Deed of Trust and of the obligations which it secures shall have the right to declare all sums secured hereby due as of a date to be specified by not less than 30 days' written notice to be given to TRUSTOR by BENEFICIARY; provided, however, that such election shall be ineffective if TRUSTOR is permitted by law to pay the whole of such tax in addition to all other payments required hereunder and if, prior to such specified date, does pay such tax and agrees to pay any such tax when hereafter levied or assessed against SUCH PROPERTY, and such agreement shall constitute a modification of this Deed of Trust. Sums Advanced to Bear Interest: To pay immediately upon demand any sums advanced or paid by BENEFICIARY or TRUSTEE under any clause or provision of this Deed of Trust. Any such sums, until so repaid, shall be secured hereby and bear interest from the date it was advanced or paid at the same rate as such indebtedness and shall be secured by this Deed of Trust. Assignment of Deposits: That as further additional security if this be a construction loan, TRUSTOR hereby transfers and assigns to BENEFICIARY during continuance of these Trusts, all right, title and interest to any and all monies deposited by TRUSTOR or deposited on behalf of TRUSTOR with any city, county public body or agency, sanitary district, gas and /or electric company, telephone company and any other body or agency, for the installation or to secure the installation of any utility by TRUSTOR, pertaining to this property. Failure of TRUSTOR to Comply with Deed of Trust: Should MAKER or TRUSTOR fail to make any payment, or to do any act as provided in this Deed of Trust, or fail to perform any obligation secured by this Deed of Trust, or do any act MAKER or Page 5 of 12 #MGWL_265892_3.DOC