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I 00 '~ '~ 'I.'- o ~ I " CO L insurance premiums, ground rents, and all ot/ler charges wllatsoever levied upon or assessed, placed or made agamsl the Trust Property, Trustor further agrees, upon written request by Beneficiary, 10 promptly deliver to Beneficiary all receipls for Ihe payment of such charges, Trustor likewise agrees to pay all taxes, assessments and olher charges levied upon or assessed, placed or made against, or measured by, this Deed of Trust or the recordatiDn hereDf, 5, ApplicatiDn of Payments, All payments received by Beneficiary as tD any debt, liability Dr DbligatiDn Dwed tD Beneficiary by TrustDr may be applied by Beneficiary tD the payment of the Indebtedness Dr tD any such Dther debt, liability Dr DbligatiDn, in any order or manner of applicatiDn which Beneficiary, in its absDlute discretiDn, deems appropriate, Unless otherwise elected by Beneficiary, any such payment shall be deemed applied first tD the payment Df any debt, liability Dr DbligatiDn Dther than the NDte, 6. Charges; Uens. Trustor will keep the Trust Property free from all liens and encumbrances which in any way may, in the judgment Df Beneficiary, have priority over, Dr impair the security Df, this Deed of Trust but Trustor need not discharge any such lien SD long as Trustor shall agree, in writing, to pay the obligation secured by such lien in a manner acceptable to Beneficiary and shall in gDDd faith contest such lien by appropriate legal proceedings effective tD prevent the enforcement of the lien and the loss of any interest in or part of the Trust Property, 7, Hazard Insurance, Trustor shall keep the buildings and Dther improvements now existing or hereafter erected on the Trust Property insured by insurance carriers satisfactory to Beneficiary against IDSS 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 fDr such periods as may be required by Beneficiary, The pDlicy Df insurance shall be in form acceptable to Beneficiary, provide that the same may nDt be cancelled or modified without fifteen (15) days prior written notice to Beneficiary. and shall have loss payable provisions in favor Df and in form acceptable to Beneficiary, All premiums on insurance policies shall be paid in the manner provided under paragraph 4 hereof or, if not paid in such manner, by Trustor making payment at least fifteen (15) days priDr tD the due date, directly to the insurance carrier, Beneficiary shall have the right tD hold the pDlicies and renewals thereof and TrustDr shaH promptly furnish to Beneficiary all renewal notices and all paid premium receipts received by it, In nD event shall Beneficiary or Trustee be held responsible for failure to pay insurance premiums Dr for any loss or damage arising out of a defect in any policy or arising out Df any failure of any insurance company to pay for any loss or damage insured against or for failure by Trustor to effect the insurance required hereunder. In the event of loss, Trustor shall give prompt notice by mail to the insurance carrier and Beneficiary, Beneficiary may make proof of loss if not made promptly Dr in proper form by Trustor, All pDlicies Df insurance and any and all refunds of unearned premiums are hereby assigned to Beneficiary as additiDnal security for the payment of the Indebtedness, In the event of Beneficiary's exercise Df the power of sale contained herein, Dr in the event of foreclosure, all right. title and interest of Trustor in 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 DptiDn of Beneficiary, be applied by Beneficiary upon the Indebtedness, or any part thereof, and in such order and amount as Beneficiary may determine; Dr said insurance proceeds, at the option of Beneficiary, may either be used in replacing or restoring the Trust Property partially Dr totally destroyed to a conditiDn satisfactory to Beneficiary; or said insurance proceeds, or any portion thereDf. may be released to Trustor, Unless Beneficiary and Trustor otherwise agree in writing, any such application Df insurance proceeds shall not extend or postpDne the due date of the Note, Dr any installments called for therein, or change the amount of such installments, If the Trust Property is acquired by Beneficiary pursuant to the exercise of the power Df sale or other foreclosure, all right, title and interest of Trustor in and to any insurance proceeds payable as a result of damage tD the Trust Property prior to the sale or acquisition shall pass to Beneficiary and shall be applied first tD the costs and expenses, including attorney fees. incurred in collecting such proceeds, then in the manner and in the Drder provided herein, 8, Preservation and Maintenance of Trust Property, TrustDr will keep the buildings and Dther improvements nDW or hereafter erected Dn the Trust Property in good repair and condition and will not commit or permit waste, will not alter the design or structural character constituting any building nDW or hereafter erected on and constituting the Trust Property without the prior written consent Df Beneficiary, will not do any act or thing which would unduly impair or depreciate the value of the Trust Property and will nDt abandon the Trust Property. TrustDr will not remDve any fixtures constituting the Trust Property unless the same are immediately replaced with like property subject to the lien and security interest of this Deed of Trust and of at least equal value and utility, Trustor will comply with all present and future ordinances, regulations and requirements of any governmental body which are applicable to the Trust Property and to the occupancy and use thereof, If this Deed of Trust is on a unit in a condominium or a planned unit development, Trustor shall perform all Df Trustor's obligations under the declarations or covenants creating or governing the condominium or the planned unit development, the bylaws and regulations of the condominium or planned unit development, and the constituent documents, 9, Inspection. Beneficiary or its agents may, at all reasonable times, enter upon the Trust Property for the purpose of inspectiDn, Beneficiary shall have no duty to make such inspection and shall nDt be liable to Trustor or to any person in possession if it makes or fails to make any such inspection, 10, Protection of Security, If Trustor fails to perfDrm any Df the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is commenced which does or may adversely affect the Trust Property or the interest of Trustor or Beneficiary therein or the title of Trustor thereto, then Beneficiary, at its option, may perform such convenants and agreements, make such appearances, defend against and investigate such action or proceeding and take such other action as Beneficiary deems necessary to protect its interest including, but not limited to, disbursement of reasonable attorney fees and entry upon the Trust Property to make repairs. Any amounts disbursed by Beneficiary pursuant to this paragraph 10, with interest thereDn, shall constitute Indebtedness Df Trustor secured by this Deed of Trust. Unless Trustor and Beneficiary agree to other terms of payment, such amounts shall be payable upon notice from Beneficiary to TrustDr requesting payment thereof, and shall bear interest from the date Df disbursement at the default rate, if any. set forth in the Note, or otherwise at the highest rate permitted by law, Nothing contained in this paragraph shall require Beneficiary to incur any expense or take any action hereunder, TrustDr irrevocably authorizes and empowers Beneficiary to enter upDn the Trust Property as Trustor's agent and, in Trustor's name Dr otherwise to perform any and all covenants and agreements to be performed by TrustDr as herein provided. Beneficiary shall, at its DptiDn, be subrogated to any encumbrance, lien, claim Dr demand and to all rights and securities for the payment thereof paid Dr discharged by Beneficiary under the provisiDns hereof and any such subrogatiDn rights shall be additional and cumulative security for this Deed of Trust. 11, Condemnation. The proceeds of any award or claim fDr damages, direct or consequential, in connectiDn with any condemnation or other taking of the Trust Property, or any part thereof, or for conveyance in lieu of Dr in anticipation of condemnation, are hereby assigned to and shall be paid to Beneficiary, Trustor will file and prosecute, in gDDd faith and with due diligence, its claim for any such award or payment, and will cause the same to be collected and paid tD Beneficiary, and, should it fail to do so, Trustor irrevocably authorizes and empowers Beneficiary, in the name Df Trustor or otherwise, to file, prosecute, settle Dr compromise any such claim and to collect, receipt fDr and retain the proceeds, If the Trust Property is abandoned by TrustDr, or, after notice by Beneficiary to Trustor that the condemnor offers to make an award or settle a claim for damages, TrustDr fails 10 respond to Beneficiary within thirty (30) days after the date such notice is mailed, Beneficiary is authorized to cDllect and apply the proceeds in the manner indicated herein, The proceeds of any award or claim may, after deducting all reasDnable costs and expenses, including attorney fees, which may have been incurred by Beneficiary in the collectiDn thereof, at the sole discretion of Beneficiary, be released to Trustor, applied to restoration of Trust Property, or applied to the payment Df the Indebtedness, Unless Beneficiary and Trustor otherwise agree in writing, any such application Df proceeds to Indebtedness shall nDt extend or postpone the due date of the Note or the payment of any installments called for thereunder. 12, Trustor NDt Released. Extension Df the time for payment or modificatiDn of any amortizatiDn of the Indebtedness granted by Beneficiary to any successor in interest of TrustDr shall nDt operate tD release, in any manner, the liability of Trustor and Trustor's successors in interest. Beneficiary shall not be reqUired to commence proceedings against such successor or refuse /0 extend time fDr paymenl Dr otherwise modify amortizatiDn of the Indebtedness by reaSDn Df any demand made by Trustor and Trustor's succeSSDrs in interest, 13, FinanciallnformatiDn, UpDn request of Beneficiary, TrustDr will provide tD Beneficiary, within ninety (90) days of the clDse of each fiscal year Df TrustDr, the consolidated balance sheet and statement Df earnings of TrustDr and any and all guarantors Df the Indebtedness secured hereby, if any. and will provide and deliver tD Beneficiary such other financial informatiDn and in such manner as Beneficiary may reasonably request frDm time tD time, 14, Financial Covenants, In additiDn to any other fmancml covenants Df Trustor made In any other agreement, mstrument or document, Trustor shall comply with and shall cause any and all guarantors of the Indebtedness secured hereby to comply WIth, or be If! compliance willI, Ihe following financml covenants (Tlus paraWllpl1 shall not apply If covenants IInd reqWfOments are not sel forth here III I 15, Schedule D/teases WI/hill/en (101 rillYs II110r domand, Trustor sl1all furnish to BeneflclRry a sCherill/o, cert!/I(!(1ta LJy Trustor, setllll!] forth a/lleasos of tho Trust Property, or IIny porrloll 1/1(1/001 IlIellIdillg III ead> case, the lIame 011110 Wnants or oCcllpants, a descnptlOn of tho spaco occuplOd by SUCllloflllll1 or occupant, 1110 mlltal payable lor Sllefl space and sur" other ",Inrmallorl ilnC1 C10cllmPIIls wllh rosPl.lct to s/Jch loasos Ilnrl/onallclOs as l3onollclilfY milY rOi/sorwtJly Wlluost '''": r'- / r h'