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I -j8- 102043 taxes and assessments next due on the Mortgaged Property, or any part thereof, as reasonably estimated by Holder, less all sums paid previously to Holder therefor, divided by the number of months to elapse before one month prior to the date when such premiums, taxes and assessments wi 11 become delinquent, such sums to be held by Holder, without interest, for the purposes of paying such premiums, taxes and assessments. Any excess reserve shall. at the discretion of Holder, be credited by Holder on subsequent payments to be made on the Secured Indebtedness by Trustor, and any deficiency shall be paid by Trustor to Holder on or before the date when such premiums, taxes and assessments shall become delinquent. Transfer of legal title to the Mortgaged Property shall automatically transfer to the transferee title in all sums deposited under the provisions of this Section 6.6. 6,7 It is understood and agreed that the proceeds of the note, to the extent the same are utilized to renew or extend any indebtedness or take up any outstanding Liens against the Mortgaged Property, or any port ion thereof, have been advanced by Holder at Trustor's request and upon Trustor's representation that such amounts are due and payable. Holder sha 11 be subroga ted to any and a 11 Rights and Liens owned 0 r claimed by any owner or holder of said outstanding Rights and Liens, however remote, reg a rd less of whether sa id Rights and Liens are acquired by assignment or are released by the holder thereof upon payment. 6.8 Wherever this Deed of Trust requires Trustor, such notice shall be deemed to have been given in the manner provided in the Loan Agreement. notice to given when 6.9 If the Rights and Liens created by this Deed of Trust shall be invalid or unenforceable as to any part of the Secured Indebtedness, then any portion thereof that is so determined to be unsecured shall be completely paid prior to the payment of the remaiuing and secured portion of the Secured Indebtedness, and all payments made on the indebtedness of Trustor to Holder shall be considered to have been paid on and applied first to the complete payment of any unsecured portion of said indebtedness. 6.10 This Deed of Trust is binding upon Trustor and Trustor's successors, and shall inure to the benefit of Holder-, and its successors and assigns, and the provisions hereof shall likewise be covenants running with the land. The duties, covenants, conditions. obligations and warranties of Trustor in this Deed of Trust shall be joint and several obligations of Trustor and Trustor's successors. - 14 - r- L ~ r" ... L