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<br />3. 'lUxes and Assessnents. To pay, when due, all taxes, special assessnents
<br />and all other charges against the property, before the same becane delinquent,
<br />and, in the event Beneficiary shall so require, to add to the payments required
<br />lUlder the note secured hereby, such amount as may be sufficient to enable Beneficiary
<br />to pay such taxes, assessnents or other charges as they become due.
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<br />4. Insurance. To keep the improvements now or hereafter locat€.ct on the real
<br />estate described herein insured against damage by fire and such other hazards as
<br />Beneficiary may require, in anDlUlts and canpanies acceptable to Beneficiary, and
<br />with loss payable to Beneficiary. In case of loss lUlder such policies, Beneficiary
<br />is authorized to adjust, collect and canpromise, in its discretion, all claims
<br />thereunder and, at its sole option, is authorized to either apply the proceeds to
<br />the restoration of the property or upon thE' indebtedness secured hereby, but pay-
<br />ments required by the note shall continue lUltil the sums secured hereby are paid
<br />in full.
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<br />5. Repair, Maintenance and Use. To pranptly repair, restore or rebuild any
<br />buildings or improvements now or hereafter on the property; to keep the property
<br />in gexxl condition and repair, without waste and free from mechanics or other liens
<br />not expressly subordinated to the lien hereof; to not make, suffer or pennit any
<br />nuisance to exist nor to diminish or impair the value of the property by any act
<br />or omission to act; and to canply with all requiranents of law with respect to the
<br />property.
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<br />6. Condannation. In the event the property, or any part thereof, shall be
<br />taken by €Illi.nent dana,in, Beneficiary is entitled to collect and receive all can-
<br />pensation which may be paid for any property taken or for damages to property not
<br />taken, and Beneficiary shall apply such canpensation, at its option, either to a
<br />reduction of the indebtedness secured hereby or to repair and restore the property
<br />so taken.
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<br />7. Perfonnance by Beneficiary. Beneficiary may, but shall have no obligation
<br />to, do any act which Trustor has agreed but failed to do, and Beneficiary may also
<br />do any act it deans necessary to protect the lien hereof. Trustor agrees to repay,
<br />upon danand, any SlUIlS so expended by Benficiary for the above purposes, and any
<br />sums so expended by Bel1eficary shall be added to the indebtedn&s secured hereby
<br />and becare secured by the lien hereof. Beneficiary shall not incur any personal
<br />liability because of anything it may do or omit to do herelUlder.
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<br />8. Inspections. Beneficiary, or its agents, representatives or workmen,
<br />are authorized to enter at any reasonable time upon or in any part of the property
<br />for the purpose of inspecting the same and for the lXlllJOSe of perfonning any of
<br />the acts it is authorized to perfonn lUlder the tenns of any loan instrunents
<br />executed by 'frustor.
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<br />9. Assignment of llents. Beneficiary shall have the right, power and authority
<br />during the continuance of this Deed of 'frust Construction Security Agreement to
<br />collect the rents, issues and pl'Ofits of the property and of any personal property
<br />located thereon with or without taking possession of the property affected hereby,
<br />and Trustor hereby absolutely and lUlconditionally assigns all such rents, issues
<br />and profits to Beneficim'}'. Beneficiary, however, hereby consents to Trustor IS
<br />collection and retention of such rents, issues and profits as they accrue and become
<br />payable, so long as Trustor is not, at such time, in default with respect to payment
<br />of any indebtedness secured hereby, or in the perfOlmance of any agreement herelUlder.
<br />If any event of default described hereafter in respect to this Deed of Trust Con-
<br />struction Security Agreement shall have occurred and be continuing, Beneficiary, as
<br />a matter of right and without notice to Trustor or anyone claiming lUlder Trustor,
<br />and without regard to the value of the trust estate or the interest of the Trustor
<br />therein, shall have the right to apply to any court having jurisdiction to appoint
<br />a receiver of the property.
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<br />10. Transfer of Property. If all or any part of the property or any interest
<br />of Trustor therein is sold, transferred or further encwIbered without the express
<br />or written consent of Beneficiary, Beneficiary may, at its sole option, declare all
<br />SU/I5 secured by this Deed of Trust Construction Security Agreement to be iJlmediately
<br />due and payable and proceed to the ranedies available to it lUlder the default pro-
<br />visions contained herein.
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