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<br />insurance premiums. ground rents, and all other charges whatsoever levied upon or assessed. placed or made against the Trust
<br />Property. Trustor further agrees. upon written request by Beneficiary, to promptly deliver to Beneficiary all receipts for the pa~ment 01
<br />such charges. Trustor likewise agrees to pay all taxes, assessments 'and other charges levied upon or assessed, placed or made
<br />against, or measured by, this Deed of Trust or the recordation hereol.
<br />5. Application of Payments. All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor
<br />may be applied by Benellclary to the payment of the Indebtedness or to any such other debt, liability or obligation, In any order or
<br />menner 01 application which Beneficiary, In Its absolute discretion, deems appropriate. Unless otherwise elected by Benellc/ary, any
<br />such payment shall be deemed applied first to the payment 01 any debt, liability or obligation other than the Note.
<br />
<br />6. Charges; Uens. Trustor will keep the Trust Property free from all liens and encumbrances which In any way may, In the Judgment of
<br />Beneficiary, have priority over, or Impair the security of, this Deed of Trust but Trustor need not discharge any such lien so long as
<br />Trustor shall agree, In writing, to pay the Obligation secured by such lien In a manner acceptable to Beneficiary and shall In good faith
<br />contest such lien by appropriate legal proceedings effective to prevent the enforcement 01 the lien and the loss of any Interest In or
<br />pert 01 the Trust Property.
<br />7. Hazard Insurance. Trustor shall keep the buildings and other Improvements now existing or hereafter erected on the Trust Property
<br />Insured by i""urance carriers satislactory to Beneficiary against loss by fire. hazards Included in the term "extended coverage" end
<br />such other hazards, casualties and contingencies as may be required by Beneficiary, In such amounts and for such periods as may be
<br />required by Beneficiary. The policy of Insurance shall be in form acceptable to Beneficiary, provide that the same may not be
<br />cancelled or modil/rod without fif/een (15) days prior written notice to Beneficiary, and shall have loss payable provisions In favor of and
<br />In form acceptable to Beneficiary. All premiums on insurance policies shall be paid In the manner provided under paregraph 4 hereol
<br />or, II not pal" In such manner, by Trustor making payment at least fifteen (15) days prior to the due date. directly to tho Insurance
<br />carrier. Beneficiary shall have the right to hold the policies and renewals thereof and Trustor shall promptly fumlsh to Beneficiary all
<br />renewal notices and all paid premium receipts received by it. In no ovent shall Beneficiary or Trustee be held responsible lor failure to
<br />pay Insurance premiums or lor an}. loss or damage arising out of a defect In any policy or arising out of any failure of any insurance
<br />company to pay for any loss or damage insured against or tor lallure by Trustor to effect the Insurance required hereunder. In the event
<br />of loss, Trustor shall give prompt notice by mail to the insurance carrier and Beneficiary. Benel/ciary may maka proof 01 loss if not
<br />made promptly or in proper form by Trustor. All policies of Insurance and any and all refunds of unearned premiums are hereby
<br />assigned to 8enel/clary as additional security for the payment of the Indebtedness, In the event of Banel/clary's eKerc/se 01 the power
<br />of sale contalned herein, or in the event of foreclosure. all right. title and Interest of Trustor in and to any insurance policy then in force
<br />shall pass to the purchaser at the trustee's sale or foreclosure sale, In case of eny loss. the insurance proceeds may, at the option of
<br />Benel/clary, be applied by Benel/ciary upon the Indebtedness. or any palf thereof, and In such order and amount as Benel/clary may
<br />determine; or said insurance proceeds. at the option of Beneficiary, may either be used in replacing or restoring the Trust Property
<br />partially or totally destroyed to a condition satisfaclory to Beneficiary; or sald insurance proceeds. or any portion thereof, may be
<br />released to Trustor. Unless Beneficiary and Trustor otherwise agree in writing, any such application of Insurance proceeds shall not
<br />eKtend or postpone the due date of the Note. or any Installments called for therein, or change the amount of such installments, If the
<br />Trust Property Is acquired by Benel/clary pursuant to the eKercise of the power of sale or other foreclosure. all right, title and interest of
<br />Trustor in and to any insurance proceeds payable as a result 01 damage 10 the Trust Property prior to the sale or acquisition shall pass
<br />to Beneficiary and shall be appfied first to the costs and eKpenses. Including attomey fees. incurred In collecting such proceeds. then
<br />in the manner and in the order provided herein,
<br />
<br />8, Preservation and MBlntenance of Trust Property, Trustor will keep lhe buildings and other improvements now or hereafter erected on
<br />the Trust Property In good repair and condition and will not commit or permit waste. will not alter the design or structural character
<br />constiluting any building now or herealler erected on and constituDng the Trust Property without the prior written consent of
<br />Beneficiary. will not do any act or thing which would unduly Impeir or depreciate the value of the Trust Property and will not abandon
<br />the Trust Property, Trustor will not remove any fiKtures constiluNng Ihe Trust Property unless the same are Immediately replaced with
<br />like property subject to the fien and security inrerest of this Deed of Trust and of at least equal value and utility. Trustor will comply with
<br />IIlI present and fUlure ordinances. regulations and reqUIrements of any governmental body which are applicable to the Trust Property
<br />and to the occupency and use thereof If thiS Deed of Trust 15 on a Unit in a condominium or a planned unit development, Trustor sflall
<br />perform all of Trustor's obligations under the declarallons or covenenls creating or governing the condominium or the planned unil
<br />developmenl. the bylaws and regulations of the condominium or planned unit development, and the constituent documents,
<br />
<br />9, Inspection, Beneficiary or its agents may, Bt all reasofleble times, enrer upon the Trust Property for the purpose of inspection
<br />Beneficiary shllll have no duty to malle such inspectIOn and shall nol be liable to Trustor or to any person in possession if it makes or
<br />fails to make any such inspection,
<br />
<br />70, Protection ot Security, If Trustor flltls to perlorm any of the covenants and agreements conrained m this Deed of Trust, or ,: any ac~on
<br />or proceeding is commenced which does 01 may adversely affect the Trust Property or the mterest 01 Trustor or BenefiCiary i,~erein or
<br />the title 01 Trustor thereto, then BenefiCiary, at ils opfJOfl. may perlorm such convenants and agreements. make such appearanLaS,
<br />defend against and Investigate such action 01 proceeding and take such other action as Beneficiary deems necessary to proteci ,15
<br />interest including, but not limited to, disbursemen/ of reasonable arromey lees and entry upon rhe Trusl Properly to make repairs ,lny
<br />amounts disbursed by BenefiCiary pursuanr to thiS paragraph 10. with interest thereon. shall constitute Indebtednass of Truslor
<br />secured by this Deed at Trust Unless Trustor and Benellc/ary agree to other terms 01 paymen/, such amounts shall be payable upon
<br />notice from Benefic,ary 10 Trustor reques~ng payment thereof. and shall bear interest Irom the date of disbursement at the defaull rate.
<br />if any, set forth in the Note, or otherwise al the highest rate permlfled by ~aw, Nothing contained in this paragraph shall reqUIre
<br />Beneficiary to incur any expense or take any action hereunder, Truslor Irrevocably authorizes alld empowers BenefiCiary to enter upon
<br />the Trust Properly as Trustor's agent and, m Trustor's name or otherwise to perform any and all covenants and agreements 10 be
<br />pertormecl by Trustor as herein provided, Baneficlary shall, at Its option. be subrogated to any encumbrance. lien. claim or demand
<br />and to all rights and securities for the paymenl thereol p8ld or discharged by BenefiCiary under the provisions hereof and any such
<br />subrogation nghts shall be additional and cumulative sec:urily lor thiS Deed of Trust,
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<br />I I CondemnaDon, The proceeds of any award or cl8lm lor damages, direct or consequen~a/. In connec~on With any condemnation or
<br />other talung of the Trust Properly, or any part thereof. or lor conveyance in lieu of or m antic/paDon of condemnaDon, are hereby
<br />assigned to and shall be paid 10 BenefiCiary, Trustor WIll file and prosecute. in good lalth and with due diligence. Its claim for any such
<br />award or payment, and will cause the same 10 be collected and paid to Banel/ciary. and, should It fall to do so. Trustor Irrevocably
<br />authOrizes and empowers Benellclary, 10 the name 01 Trustor or otherwise, to I/Ie. prosecute. serr/u or compromise any such claim and
<br />to collect receipt lor and retBln the proceeds, If the Trust Properly IS abandoned by Trustor. or, aller no~ce by BenefiCiary to Trustor
<br />thai the condemnOl offers to make an award or serrle a cllltm lor damages, TruSlor falls to respond to BenefiCiary Within thlrly (30) days
<br />alter the date such notICe 's mailed, Beneficiary IS authonzed to collect and apply the proceeds ,n Ihe manner mdlcaled herein The
<br />proceeds 01 any award or cllItm may. after deducting all reasonable costs and expenses, Including at/omey fees, which may have
<br />blIen incurrsc1 by BenefiCIary In the coI/ectton thereof. at Ihe sole discretion of Beneliciary. be released to Trustor, applied to
<br />restoration ot TruSI Property. or applied to the paymenr 01 the Indebtedness, Unless Bene/lCJary and Trustor otherwise agree In wntmg,
<br />any such application of proceeds to Indebtedness shall nol eJdend or postpone the due date of the Note or the payment or any
<br />ins!llllments caJIed lor thereunder,
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<br />12, Trustor Not Released. Extension 01 the time for peymenl or modification 01 any amortizatIOn 01 the Indebledness gran/ed by BenefiCiary
<br />to any successor in interest ot Trustor shall not operate to release. in any manner, the liability of Trustor and Truslors successors In
<br />1nl8rBSl, Beneficiary shall not be required to commence proceedings against such successor or reluse to eJdend /lme lor payment or
<br />orheIWIllI modify amortIZalJor1 of the Indebledness by reason 01 MY demand made by TruSlor and Trustors successors
<br />in IntlIrlJ..t
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<br />13, FinItncJM InlotmaflOn, Upon reqU8S1 01 Beneficiary, Trustor WI" provtde to Beneficiary. Wlthm n.nety 190} days 01 the close or each /lscal
<br />~ 01 TruS7Or, the COIl$OIidaled balance sheet and statement 01 earnings 01 Trustor and any and all guaranrors 01 the Indobledness
<br />~ hereby. if any. and will provide and deliver to 8ene/icJary such other financlalmlormallon and In suct! m,lnn", as Beneflclarv
<br />mey INSOlI8bIy f1IqlI8Sl from /Itne to time
<br />
<br />,,, FlnanCJaI Covenants In addiOon ro any othcfr hnancutl covenanrs of TrustOf maC1e 1M any other agreement. msrrumer,t 0/ docum~nt
<br />Trustor shall comply wrth and shan cause any end aJ/ guaranrors 0' the Indebtedness secured hereby to comply WIth Of bo ,n
<br />compianc. Wlrh. the kJJIoWlng frnllna.' coV9llan1s (nUS paragraph sh811 n01 apply 11 covenants and rllQUlrempnt!i aft) nn! ...flr
<br />lorIh ".,..n }
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<br />'5 Sc"-duJrlr 01 (_as"$ Wlttun ten POJ days 9tfe, dftmand. TrustOf &/11111 fUln/sh to Benpf1c11lf\' "schpdU'fJ rprf"'PI1 1r' tl~ Trw"or '.nrr,nG
<br />IOttf1 aI1ll8aS.tn 01 Chtt 7ruS1 P;opetty. r.)I any ponton t~eof. Includmg In QK" CttSfI ,ho l'1t1mfl 111 rnp rfm/.nr~ . ~ ,... 'ull.V"" .,. ,...., 'rJlrll'fl
<br />01 the coace occup-ed by such retlanr or occupant. fhe. r~ntaJ ptlrabJfJ 'Ot such "pJJfP anl1 sw-t, n""l1 ,fl'II1"'.'.If'l ". ",'lll .f," 11"'''''''' iAI.,r,"
<br />f'ffapect ro IUC" Ma.s.M and f8nancHtS .S aen.t1Cl"'-'V may ,pll.5lon8bl... f6(1~St
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