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200913229
<br />C. Taxes. Assessments and Charaes.
<br />(i) Until the Trust Estate is reconveyed pursuant to the terms
<br />hereof, Trustor shall cause to be paid directly and before
<br />delinquency all real estate and other taxes, assessments,
<br />and other charges, whether general or special, including,,
<br />without limitation, fines, penalties and impositions,
<br />leasehold payments or ground rents, and all lawful claims
<br />for labor, materials, and supplies, if any, which are
<br />assessed or imposed upon all or any part of the Trust
<br />Estate, or become due and payable and create, may
<br />create, or appear to create a lien or other encumbrance
<br />upon all or any part of the Trust Estate; provided that
<br />Trustor may protest in good faith and by appropriate legal
<br />proceedings, in a mannerwhich, in Beneficiary's judgment,
<br />will notjeopardize Beneficiary's interest in the Trust Estate,
<br />any such taxes or claims not involving deposits or ad-
<br />vances or borrowed money or the deferred purchase price
<br />of property or services. Trustor shall promptly furnish to
<br />Beneficiary all notices of amounts due under this para-
<br />graph, and all receipts evidencing payment of such
<br />amounts within thirty (30) days of April 1 and August 1 of
<br />each year that this Trust Deed shall be recorded against
<br />the Property.
<br />Alternatively, in the sole discretion of Beneficiary, there
<br />shall be added to each Installment required to be made by
<br />Trustor to Beneficiary under the Note one twelfth (1 /12th)
<br />of an amount estimated by Beneficiary to be sufficient to
<br />pay, at least thirty (30) days before delinquent, all real
<br />estate, personal property and other taxes, assessments
<br />and other charges, whether general or special, including,
<br />without limitation, all fines, penalties, and impositions, if
<br />any, which are assessed or imposed upon all or any part
<br />of the Trust Estate, or become due and payable and
<br />create, may create, or appear to create a lien or other
<br />encumbrance upon all or any part of the Trust Estate,
<br />together with one twelfth (1/12th) of an amount estimated
<br />by Beneficiary to be sufficient to pay, at least thirty (30)
<br />days before expiration, the premiums for all Insurance
<br />required to be maintained by Trustor pursuant to the Loan
<br />Agreement. Any amounts delivered to Beneficiary
<br />pursuant to this paragraph shall be held in escrow by
<br />Beneficiary until distributed, shall constitute additional
<br />security for the obligations, and, provided an Event of
<br />Default has not occurred, shall be applied by Beneficiary
<br />to pay all such taxes and Insurance premiums as they
<br />come due. Beneficiary shall not be obligated to pay
<br />interest to Trustor on such escrowed amounts and may
<br />commingle such amounts with Beneficiary's other funds.
<br />Upon demand by Beneficiary, Trustor shall deliver to
<br />Beneficiary such additional sums of money as are neces-
<br />sary to make up any deficiency in amounts necessary to
<br />pay any of the foregoing items.
<br />(iii) If at any time after the date hereof there shall be assessed
<br />or imposed a license fee, tax or assessment imposed on
<br />Beneficiary or this Trust Deed and measured by or based
<br />in whole or in part upon the amount of the Obligations,
<br />then all such taxes, assessments or fees shall also be paid
<br />by Trustor as herein provided with respect to the payment
<br />of amounts due pursuant to Section (2)(c)(ii) hereof.
<br />Anything to the contrary herein notwithstanding, Trustor
<br />shall have no obligation to pay any franchise, estate,
<br />inheritance, income, excess profits, or similar tax levied on
<br />Beneficiary.
<br />L0553199.1 -4-
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