88100097 - Laserfiche WebLink

Browse

n L 88- 100097 promptly refund to Trustor any Funds held By Beneficiary. If the Trust Property is sold under the power of sale or the Trust Property is otherwise acquired by Beneficiary, Beneficiary shall apply, immediately prior to the sale of the Trust Property qf its acquisition by Beneficiary, any Funds held by Beneficiary, Beneficiary shall apply, immediately prior to the sale of the Trust Property or its acquisition by Beneficiary, any Funds held by Beneficiary at the time of application as a credit agair,st the Irldebtedrless. If B~neficiary executes a written waiver of Trustor's obligations under this paragraph 4, Trustor covenants and agrees to pay, before the same become delinquent, all taxes, assessments, insurance premiums, ground rents, and all other charges whatsoever levied upon or assessed, placed or made against the 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 hereof. 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, liability 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; Liens. Trustor will keep the Trust Pro pert y free from all 1 i ens and enculllbt'ances wh i ch in ar,y 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 long 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 legal proceedings effective to prevent the enforcement of the lien and the loss of any interest in part of the Trust Property. 7. Hazard Insurance. Trustor shall keep the buildings And other improvemerlts r,ow existing Ot' hereafter et'ected or, the Trust Property insured by insurance carriers satisfactory to Beneficiary against loss by fire, hazards included in the term "extended coverage" and such othet' hazat'ds, casual ties and contingencies as may be required by Beneficiary, in such amounts and for such periods as may be required by Beneficiary. The policy of i~surance shall be in form acceptable to Beneficiary, provided that the same may not be cancelled or modified without fifteen (15) days prior written notice to Beneficiary, and shall have loss payable pt'c.visions L L r-- i I i I i I ~ :! f'o (j '/ t:.