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~'""it r L 87- 1072~ I I insurance premIUms. ground rents, and all oilIer charges whatsoeve' levied upon or assessed, placed or made agalflst tile Trust Property, Trustor further agrees. upon written request by Beneficiary, to promptly deliver to BenefiCiary all receipts for the payment of such charges, Trustor likewise agrees to pay all taxes, assessments and other charges levied upon or assessed. placed or made against, or measured by, this Deed of Trust or the recordation hereol, 5, Application of Payments, All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor may be applied by Beneficiary to the payment of the Indebtedness or to any such other debt. liabtlity or obligation. in any order or manner of application which Beneficiary. in its absolute discretion, deems appropriate, Unless otherwise elected by Beneficiary. any such payment shall be deemed applied first to the payment of any debt. liability or obligation other than the Note, 6, Charges; Uens. Trustor will keep the Trust Property free from all liens and encumbrances which in any way may. in the judgment of Beneficiary, have priority over. or impair the security of. this Deed of Trust but Trustor need not discharge any such lien so fang as Trustor shall agree, in writing, to pay the obligation secured by such lien in a manner acceptable to Beneficiary and shall in good faith contest such lien by appropriate fegal proceedings effective to prevent the enforcement of the lien and the loss of any interest in or part of the Trust Property, 7, Hazard fns.Jrance. Trustor shall keep the buildings and other improvements now existing or hereafter erected on the Trust Property insured by insurance carriers satisfactory to Beneficiary against loss by fire, hazards included in the term "extended coverage" and such other hazards, casualties and contingencies as may be required by Beneficiary, in such amounts and for such periods as may be required by Beneficiary, The policy of insurance shall be in form acceptable to Beneficiary, provide that the same may not be cancelled or modified without fifteen (15) days prior written notice to Beneficiary, and shall have loss payable provisions in favor of and in form acceptable to Beneficiary, All premiums on msurance policies shall be paid in the manner provided under paragraph 4 hereof or, if not paid in such manner, by Trustor makmg payment at least fifteen (15) days prior to the due date. directly to the insurance carrier Beneficiary shall have the right to hold the policies and renewals thereof and Trustor shall promptly furnish to Beneficiary all renewal notices and all paid premium receipts received by It In no event shall Beneficiary or Trustee be held responsible for failure to pay insurance premiums or for any loss or damage ansing out of a defect m any policy or ansmg out of any failure of any insurance company to pay for any loss or damage msured agamst or for failure by Trustor to effect the msurance required hereunder, In the event of loss, Trustor shall give prompt notice by mall to the insurance carrier and BenefiCIary, BenefiCiary may make proof of loss if not made promplly or in proper form by Trustor. All policies of insurance and any and all refunds of unearned premiums are hereby assigned to Beneficiary as additional SecUfity for the payment of the Indebtedness, In the event of Beneficiary's exercise of the pOlVer of sale contained herein, or in the event of foreclosure. all right. title and interest 01 Trustor m and to any insurance policy then in force shall pass to the purchaser at the trustee's sale or foreclosure sale, In case of any loss. the insurance proceeds may. at the option of Beneficiary, be applied by Beneficiary upon the Indebtedness. or any part thereof, and m such order and amount as Beneficiary may determine; or said insurance proceeds. at the option of BenefiCiary. may either be used m replacing or restoring the Trust Property partially or totally destroyed to a condition satisfactory to BenefiCIa'}'; or said msurance proceeds. or any portion thereof, may be released to Trustor, Unless Beneficiary and Trustor other\\'lse agree m I'mtmg, any such app/tcatlon of insurance proceeds shall not extend or postpone the due date of the Note. or any mstallmenls called for there'!!. or change the amount of such mstallments, If the Trust Property is acquired by Beneficiary pursuant to the exercise of tIle power of sale or other foreclosure. all nght. title and interest of Trustor in dnd to any msurance proceeds payable as a result of damage to the Trust Property pnor to the sale or acqUisition shall pass to Beneficiary and shall be appfied first to the costs and expenses, mcludmg a;torney fees, mcurred in collecting such proceeds. then in the manner and m the order prOVided herem 8, Preservation and Mamtenance of Trust Property. T IUstor w,lI keep the bwfdings and other Improvements now or hereafter erected on the Trust Property m good repal( and condition and \\'111 not commit or permit waste, will not alter the des'gn or structural character constitutmg any bUlldmg now or hereafter erected on and constituting the Trust Property WIthout the prior written consent of Beneficiary, WIll not do any act or thmg whIch woutd unduly Impal( Of depreCIate the vatue of the Trust Property and Ivill not abandon the Trust Property, Trustor IV,'I not remove any fIxtures constituting the Trust Proper/}' unless the same are Immediatety replaced with like property subject to the /ten and secunty Interest of thIS Deed of Trust aod of at least equalvafue and utility, Trustor will comply with all present and futu'e ordmances. regulations and reqUirements of any gOl'emmental body which are applicable to the Trust Property and to the occupancy and use thereof If thIS Deed of Trust IS on a umt m a condomm:um 01 a planned umt del'elopment. Trustor shall perform all of Trustor's obligatIons unde' the declaratIOns Of covenants Clealmg or governmg the condominIUm or the planned umt development. the bylaws and regulatIons of the condommlum Of planned umt de\'elopment. and the constituent documents, 9, Inspection. BenefiCIary or Its agents may, at all reasonable times, enter upon the Trust P'opert)' for the purpose of /flspec/lon, BenefiCiary shall have no duty to make such mspectlon and shall no! be Ilab!e to Trustor or to any person m possession If It makes aT fails to make any such inspection, 10, Protection of Security. If Trustor falls 10 perform any of the covenants and agreements con tamed m thIS Deed of Trust. or /f any acbon or proceeding IS commenced which does or may adversely affect the Trust Property or the Imerest of Trustor or Beneficiary therein or the title of Trustor thereto. then BenefiCiary. at ItS optIon, may perform such convenants and ag,eements, make such appearances. defend agamst and investigate such action Of prrxeedmg and take such other action as BenefiCiary deems necessary 10 protect ItS interest includmg, but not flmlted to. disbursement of ,easonable attorney fees and entry upon the Trust Property to make repal(s, Any amounts disbursed by BenefiCIary pursuant to thIS paragraph 10, With mlerest thereon, shall constllute Indebtedness of Trustor secured by thIS Deed of Trust. Unless Trustor and BenefiCIary agree to other terms of payment. such amoums shall be payable upon nottce from Beneficiary to Trustor requestmg payment thereof, and shall bear Interest from the date of dIsbursement at the default rate. ,f any. set forth m the Note. or othervllse at the highest rate permitted b)' law Nothmg contamed in thIS paragraph shall reqUire Benefic,ary to mcur any expense or take any aCllon hereunder TrustOf Irrevocabfy authonzes and empowers BenefiCiary to enter upon the Trust Property as Trustors agent and, m TrustOf's name or othem"lse to oerlorm any and all co\'enants and agreements to be perlolmed by Trustor as herem proVided Beneflclar)' shall. at ItS option, be subrogated to an}' encumbrance, /ten. claIm or demand and to all nghts and securities for the payment the,eof paId or discharged by Bene/tclary urrder the proVls:ons hereof and an)' such subrogation nghts shall be addItIonal and cumulative secun/)' fOI thIS Deed of Trust 11, Condemnation, The proceeds of any awa,d 0' claIm for damages, d"ect or consequential, m connectIon With any condemnation or other taking of the Trust Property, or any pan the,eof, or for con"eyance If! beu of or m antlClpatlon of condemnation, are hereby assigned to and shall be paId to BenefIClaf')' Trustor WII/ Me and prosecute, m good fBlth and WIth due dlflgence. ItS claim for any such award or payment. and ,VIII cause the same to be collected and paid 10 BenefiCiary, and, should ,t fall to do so. TrustOllrrevocably authorizes and empowers BenefiCiary. m the name of Trustor or othem',se. to hie, prosecute. settle or compromise any such c/aml and to collect. receipt for and retam the proceeds, If the Trust Proper/}' /s abandoned by Trustor. or. after notice by BenefIciary to Trustor that the condemnor offers to make an award or settle a claim for damages. Trustor falls to respond to BenefiCiary wilhm thIrty (30) days alter the date such notice 'S mailed, Beneflc,ary IS authcnzea to collect and appl}' (tIe p,oceeds ;n the manner IIldlcated herem, The proceeds of any award or claIm may, after deductmg all reasonable costs and expenses, mcludmg altomel' fees, which may hal'e been mcurred by BenefiCIary m the collection thereof, at the sole discretion of Beneflc/ary, be released to Trustor, applied to restoration of Trust Property. or app/ted to the payment of the Indebtedness Unless Beneflc/ary and Trustor other\\'lse agme m WfI/lng, any such application of proceeds to Indebtedness shall not extend or postpone the due date of the Note or the payment of any Iflstallments called for thereunder 12 Trustor Not Released ExtenSIon of the r,me for payment or modIfication of any amort/zatlon of the Indebtedness granted by BenefICiary to any successor Ifl Interest of TrustOf shall not operate to release, Ifl any manner, the /tablllty of Trustor and Trustor s successors m .nterest, BenefIciary shall not be reqUired to commence proceedmgs agamst such successor or refuse to extend tIme for pal'ment or otherwise modIfy amOrtizatIon of the Indebtedness by reason of any demand made by TruSIor and Trustor s successors m Interest, 13 Fmanelallnformatlon Upon requesl 01 Benef1C1ary, r'ustor Will prov'de to BenefiCIary, w,thlll nmety (901 days 01 the close of eacll/tscal year of Trustor, the consolidated balance sheet and statement of eammgs 01 r'uSlOr and any ana all guarantors or the Indebtedness secured hereby, If any, and WIll prOVIde and dellvel to BenefiCiary such other f",anoal mformatlOll and'" sllch mallnel as BelleflClal)' may reasonably request from Imle to time t4 Fmanclal Covenants In adcNI011 to any oCller flllanCtai cO"Imall/s 01 Truslo! mac1e ,11 a11y orhe! aqre!'ml?nt IIIst!lIl1lent or ,10clIment Trllsfor shall comply IVllll i/nc1 slla/l calise ,JII}' anc1 al/gllarantors 0' the Inde/)teej"ess secured ';erebl' te' compll' With, Of t1e III complIance With, the followmq flflanctai covenants t nus pafay'ap/l shal! not aop:, ., ':~O~'l"lnanfs an{1 r(lQU1/(l!'1lflnts .Jl(~ f)L1t SElf 10lth !Jerel{! I 15 Sct10duJe of I.eases ~J'lrtl!n ten r 10J da;'s atrPf C1pmiJfl!1 Trusr(y stl(lJi 'Uffll<;,!' ro HtlnefrCi,l'; d ,clo--'{)duif' \-t)f~!'I~){1 ri' (1\ 1ru~t\v :-t)rrir'C f011!) al1loasf~s of ttlf' Tn/sl Property' Of tiny porTIon tltorpo.' inclu(f/flfj,n netL" ':"-l]'-'P f"f' n,10',\ ,I "~f' "," ,!",\ '''.~\':(li;d''rSl i:t).s("l~h'," of the space ()o~c{jp!t)d f)y such tenijnt (1( :'C( Updflr till" '(-'nWI pa}'"at)f() '(l' ..t,,~.t, -;pw-'> .l'J(~ '".('~' .'hl" ,,',., ....-,." ," ,-1",~ ~(',. :;:'I(l'l.f, 1\ .t., 'O~lJ(-cr ro 5i1Lt1 fed'}e:; .1tlf] rendfl(!(";': d."" BeneflCJd'V ma,'f'd\O'1,-Jtl/y 'PQ.,I",' ...3 I.-~ f~ i: :; ~ 'I L .~