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~ I L . i msurance premiums, ground rents, and all other charges whatsoever levied upon or assessed. Place~ lJ ;;;ade JeOM a~ 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. !lability or ob/!gation owed to Beneficiary by Trustor may be applied by Beneficiary to tfle 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 approptiate. 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 secutity of. this Deed of Trust but Trustor need not discharge any such lien s~ 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 f81th contest such lien by appropriate legal proceedings effective to prevent the enforcement of the lien and the toss of any interest in or part of the Trust Property. 7. Hazard Insurance. 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 payabfe provisions in favor of and in form acceptable to Beneficiary. All premiums on insurance poficies shall be paid in the manner provided under paragraph 4 he,eof or, if not paid in such manner. by Trustor making 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 theteof 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 ,'leld tesponsibJe for failure to pay insurance premiums or for any loss Ot damage arismg our of a defect In any policy or ansing out of any failure of any insurance company 10 pay for any Joss or dBmi;lfJe insured againsr or IQr Mlqre QY Trv~(Qr (Q etteG( me mSCllCUlCfl req(f{~q lle~(ln<1tl(, ((j me evenf of loss, Trustor shalf give prompt notice bv mall to the insurance carner and BeneiiCliYV_ Benefician; may make pmal of lass if not made promptly or in proper form by Trustor. All poliCIes of msurance and any iind ail refunds of unearned premiums are hereby assigned to Beneficiary as additional securil'1 for the payment of the tndebtedness. In the event of Beneficiary's exercise of the power of sale contained herein, or in the event of foreclosure. all right. title and mterest at Trustor in and to any insurance policy then in force shall pass to the purchaser at the trustee's sale or foreclosu,e sale. In case of any foss. the insurance proceeds may. at the option of Beneficiary, be applied by Beneficiary upon the Indebtedness. or an)' part thereof. and m such order and amount as Beneficiary may determine; or said insurance proceeds. at the option of BenefiCIa'}'. ma)' either be used ill replacing or restoring the Trust Property partially or totally destroyed to a condition satisfactory to BenefiC/8I)': Of S81d InSUfanCe proceeds. or any portion thereof, may be released to Trustor. Unless Beneficiary and Trustor otherwIse agree m wntlng. ar/}' such application of insurance proceeds shall not extend or postpone the due date of the Note. Of any Installments called for therem. or change the amount of such installments. If the Trust PlOperty is acquired by Beneficiary pursuant to the exerCise of the poive, of sate eN other foreclosure. all right. title and interest of Trustor in and to any insurance proceeds payable as a result of damage to the Trust Property prior to the sale or acquisition shall pass to Beneficiary and shall be applied first to the costs and expenses. Includmg attorney fees. incurred In collecting such proceeds. then in the manner and in the orde, provided herem. 8. Preservation and Maintenance of Trust Property. Trustor Ivcll keep the buildings and other impro~'ements now or hereafter erected on the Trust PlOperty in good repair and condition and will not commit or perrrut waste. will not alter the design or structural cl>aracter constituting any building now or hereafter e,ected on and constituting the Trust Property without the prier written consent of Beneficiary, will not do any act fJr thing which would unduly ImpaJ' or deprecIate the va!ue of the Trust Property and witl not abandon the Trust Property. Trustor will not ,emove any fixtures constitu!mg the Trust Property unless the same are immediatefy replaced with like property subject to the lien and security interest of this Deed of Trust and 01 at least equal value and utility. Trustor ~vill comply with all present and future ordinances. regulations and ,eqUl,ements of any governmental body which are app!:cabJe to the Trust Property and to the occupancy and use thereof_ If thIS Deed of Tlustls on a umt m a condominium eN a planned unit development. Trustor shall perform all of Trustor-s obligations unde' the decla'ations or covenants Cleating or go~'ermng the condomimum or the planned unit development, the b)'laws and regulations of the cond01ntntum OT planned untt development. and the consotuent documents. 9. Inspection. Beneficiary or its agents may. at all 'easonable times. enter upon the Trust P,operty for the purpose of inspection. Beneficiary shall have no duty to make such Inspection and shalU not be fiable to Trustor or to any person In possessIOn if il makes or fails to make any such mspection. 10. PlOteclion of Security. If Trustor fails to perfo,m any of the co~'enants and agreements contamed m this Deed of Trust. or If an)' actron or proceeding is commenced which does OJ may adve,sery affect the Trust Pro pert}. or the mteI- 5/ of Tlus/or or BenefiCIary therem or the title of Trusto, thereto, then BenefiCIary. a/Its OptlOfl. may perform such con~'enants and agreements. make such appearances. defend against and investigate such action 0' p,oceedmg and take such olhe, ac/ll)n as BenehCJaty deems necessaty to protect Its interest incfuding, but not limited to. disbu'sement of ,easonable anomey fees and en/ly upon the Trust Property to make repairs An)' amounts disbursed by Beneficiary pursuant to thIS paragraph iO. With mte,es/ thereon. shaft consl11u/e Indebtedness of Tru~/or secured by this Deed of Trust. Unless T,ustor and Beneficlaty agree to other terms of payment, such amounts shall be pa)'able upon notice from Beneticiary to Trusto, requestmg payment thereof. and shalt bear mte'est from tile date of dIsbursement at the default 'ate. if any, set fOllh in the Note, or athelWlse a/ the hlghes/ra/e pe,mltted by law. Nolhmg contained in thiS parag,aph shall reqUire Beneficiary to incur any expense or ta/n! any action he,eunde,. Trustor mevocabf)' authonzes and empowers BeneflClaty to enter upon the Trust Property as Trusto,'s agent and. In T'ustOt's name 01 olhem~se to perform any and ail covenants and agreements /0 be oerformed by TruS/CN a1: herein provided BenefiCIary s,haJt. a/Its opti01l. be subIogated to any encumbrance. lien. claim or demand and to aff rigllts and securittes fa, the payment thereof paid 0' dIscharged by Bene1lciaty under the proVlsfOns hereof and any such subrogation rights shaff be addltiona/ and cumulatJVe secunl)' for thIS Deed of T,ust It. Condemnation. The p'oceeds of any award 0' cl81m for damages. dlfect or consequent,al. In Cl)nnectron wl/h an)' condemnarlon or other taking of the Trust Property. or any pall Ihe'eof. or for com'eyance In t,eu of Of In anlcc,pallon of cl)ndemnatll}n, are hereby assigned to and shall be paid to Beneficiary. Trus/or wilt fite and prosecute. m good faith and IV/lh due diligence. lIS claim for any such award or payment, and wiff cause the same to be collected and paid to Benefic/aty. and. should It fall to do so. Trustor IIrevocably autho,izes and empowers Beneficiary. in the name of Trusto! or othem7se. to "'e, prosecute. set/Ie or compIomlse any such claIm and to coffecr. receipt for and retain the proceeds. /I the Trust P'opelt)' IS abandoned by Trustor. or. alter notice by BenefICIary 10 TrUS/OI that the condemnor offers to make an award or set1le a claIm for damages. T'"stOt fa,ls to respond /0 Benebclaty ~vlthm thirty (301 da)'s after the date such notice is maifed. Beneficiary IS authonzed to coilect and appfy the proceeds m the manne, md,cated hetem The proceeds of any award or claim may. aher deducting all,easonabJe costs and expenses. IIlcludmg attorney fees. whIch may hal'e been incurred by BenefICiary In rhe collection thereof, al the sole dlsc,et'Q1l of BenefICIary. be 'eteased to Trustor, applied to restoration of T,ust Property. or applied 10 the payment of the tndebteaness Unless BenefICIa')' and Trus/or othenvlse aglee In I\'tltmg. any such application 01 ploceeds to Indebtedness shall not extend or postpone the due dale of the Nole or Ihe paymenl of any ins/aliments called for thereunder. 12. Trustor Not Releaseo. Extension of the time fo, payment or modifIcation of an)' amortizatIOn of the Indeb/edness granted by BenefiCIary to any successor in interest of Trustor shall not operate to ,elease. many manne,. Ihe flab,lll)' of TrustOI and Trustors successors III interest. BenefiCiary shall no/ be required to commence proceedings agamst such successor or refuse to extend tIme for payment Of othelWise modify amortIZatIon of the fndebtedness by ,eason of an)' demand made by T'lIstor and Trus/ors successors in Interest. 13. FinanCial Information. Upon request of BenefiCIary. Trusror w/II prOVIde to BenefICIary. IVllhm nmety (90) days 01 the close of each fIscal year of Trustor. the consolidated balance sheet and statement of earmngs of Trusror and an.' ana all guaranrors of the Indebledness secured he'eby, if any. and WIll prOVIde and dellve, /0 BenefIClaf}' such other fmanC/al mformallon and In such ma.'mer as BenefIClaf}' may reasonably request from tllne to tIme 14, Financ.'al Covenants In addition /0 any other fmanClal covenants of Trus/or maue ,n an.' olhel ag'eement I/lstrument or document. r,ustof shaff comply With and shall cause any and all guarantors of the Indebtedness secure(/ he'etl\" to comfllr W:I/) Of be In compliance WillI. tfw lollowlng fmanClal covenanls IThls oalagraph s/Jali not apply" covenanTS ana rf'ql/lff'fl1('nts ilre 1101 sel fO/11I herem) r5 SetleOulo of Lf'ases W,thIn len (101 days aftor domand. 1'"Stol sha!l/(J!/llsh,O BenefiCIa')' ii sC',.'(lui(' et>!1II<f'() rn t'l' Trustor st'tfmo fOflh RII lotlsOS of t!lo Trtlst P'opert~l. or any pOniOf} theff~(,"_ Inclvdlng tTl each Cll.se. Tnt") ')anlp (1~ ~tlf;' r(l!)antc:. l\f ,\~\-'tJPnnt$ A (1Ps.rT!pr~()n 01 tho SI){JCO OCCUf)f(J(/ llt' such tllflant Of occupant. the r(~f1tal payat)/(~ '0' $(JC/~ sprier' ,-:p'f1 <>/iC ,- ,OJ'f" :n1,~r'r:iJ7l, I," {fni1 {~0Cl1n!{ln:.~ \\'/ttl '(,'ipuct ro ~uch Jon~f.)S and ((lnnflCmS HS Beneflc/iuy '1l8V 'f!if~Of);}LJIt.' '(loutl$;' r-.---- ~ .~ ...