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r , GO GO msurance 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 agretls 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 Belleficiary, 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 Judgmflnt 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 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" end such other hazards, casualties and contingencies as may be required by Beneficlcuy, In such amounts and for such periods as may be required by Beneficiary, The policy of insurance shall be In lorm acceptable to Beneficiary, provide that the same may not be cancelled or modified without fdteen (15) days prior written notice to Beneficiary, and shall have loss payable provisions In favor of 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 prior to the due date, directly to the Insurance carrier, Beneficiary shall have the right to hold the policies and renewals thereof 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 held responsible for failure to pay Insurance premiums or for any loss or damage arising out 01 a defect in any policy or arising out of any failure of any insurence company to pay for any loss or damage insured ageinst or lor lailure by Trustor to effect the insurance required hereunder, In the event of loss, Trustor shall give prompt notice by mail to the insurance carner and Beneficiary, Beneficiary may make proof of loss if not made promplly or in proper form by Trustor, All poliCies of insurence and any and all refunds of unearned premiums are hereby assigned to Beneficiary as additional security for the payment of the Indebtedness, In the event of Beneficiary's exercise of the power of sale contained herein, or in the event of foreclosure, all nght, tille and interest of Trustor in and to any insurance policy then in force shall pass to the purchaser at the trustee's sale or loreclosure sale. In case of any loss, the insurance proceeds may, at the option of Beneficiary, be applied by Beneficiary upon the Indebtedness, or any part thereof, and in such order end amount as Beneficiary may determine; or said iosurance proceeds, at the option of Benef/clary, may either be used in replacing or restoring the Trust Property partially or totally destroyed to a condition satisfactory to Benefic,ary; or said insurance proceeds, or any portion thereof, may be released to Trustor, Unless BenefiCiary and Trustor otherwIse agree in writing, any such application of insurance proceeds shall not extand or postpone the due date of the Note, or any Installments called lor therein, or change the amount 01 such Installments. If the Trust Property Is acquired by Beneficiary pursuant to the exercise 01 the power 01 sale or other loreclosure, all right, tille and interest of Trustor in and to any insurance proceeds payable as e result 01 damage to the Trust Property prior to the sale or acquisition shall pass to Beneficiary and shall be applied Ilrst to the costs and expenses, including altomey fees, mcurred m collectmg such proceeds, then In the manner and in the order prOVIded herem 8. Preservation and Maintenance of Trust Property Trustor WIll keep fhe bUIldings and other ,mprovements now or hereafter erected on the Trust Property in good repa" and condition and Will not commit or permit waste, WIll not alter the design or structural character constituting any building now or hereafter erected on and constltutmg the Trust Property Without the prior written consent of Benellciary, will not do any act or thmg whIch would unduly Impa" or depreCIate the value of the Trust Property and will not abandon the Trust Property. Trustor Will not remove any fi](/ures constitulmg the Trust Property unless the same are immediately replaced with like property subject to the lien and security interest 01 thIS Deed of Trust and of at least equal value and utility. Trustor will comply with all present and future ordinances, regulations and reqUIrements 01 any governmental body which are applicable to the Trust Property and to the occupancy and use thereof. II thiS Deed of TruSllS on a umt m a condominium or a planned unit development, Trustor shall perform all 01 Trustor's obligatIOns under the declarations or covenants creatmg or governing the condominium or the planned unit development. the bylaws and regulationS 01 the condominium or planned Unit development, and the constituent documents. 9, Inspection. BenefiCIary or Its agents may, at all reasonable limes, enter upon the Trust Property for the purpose of inspection. BenefiCiary shall have no duty to make such ,nspectlon and shall not be liable to Trustor or to any person In possession if ;t makes or falls to make any such mspecllon 10, Protection 01 Security. If Trustor lalls to perform any 01 the covenants and agreements contamed in this Deed 01 Trust, or if any acllon or proceeding IS commenced which does or may adversely affect the Trust Property or the interest of Trustor or Beneficiary therein or the title 01 Trustor thereto, then Beneliclary, at ,ts option, mey 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 0/ reasonable attorney lees and entry upon the Trusl Property 10 make repairs. Any amounts disbursed by Beneliclary pursuant to fhls paragraph 10, WIth mterest thereon, shall constitute Indebtedness of Trustor secured by this Deed of Trust. Unless Trustor and Benellclary agree to other terms of payment, such amounts shall be payable upon notice from Benellciary to Trustor requesllng p ~yment thereot, and shall bear mterest Irom the date 01 disbursemen/ at the default rate, if any, set forth in the Note, or otherwise at/he highest rate permllled by law. Nothmg contamed m rhis paragraph shall require Beneficiary to mcur any expense or talle any acllon hereunder. Trustor Irrevocably authof/zes and empowers BenefiCiary to enter upon Ihe Trust Property as Trustor's agent and, m Trustor's name or otherwIse to perform any and all covenants and agreements to be performed by Trustor as herem provided. Beneficiary shall, at ItS option, be subrogated fO any encumbrance, lien, claim or demand and to ai/ rights and securilles for the paymenr thereol p8Jd or discharged by BenefICIary under the provIsIons hereof and any such subrogation rights shall be additional and cumulative security for this Deed 01 Trust 11. Condemnation, The proceeds of any award or c/81m lor damages, direct or consequential, m connection With any condemnatIon or other taking 01 the Trust Property, or any p/Jl1thereof, or for conveyance in lieu 01 cr III anticipation 01 condemnation, are hereby assigned to and shall be paid to Beneficiary. Trustor will file and prosecute, in good faith and with due diligence, Its claim lor any such award or payment, and will cause the same to be collected and paid to Beneficiary, and, shOuld it lail to do so, Trustor irrevocably euthorizes and empowers Beneficiary, in the name of Trustor or otherwise, to liIe, prosecute, selt/e or compromise any such claim and to collect, roc:eipt for and retain the proceeds. If the Trust Property 's abandoned by Trustor, or, after notice by Beneficiary to Trustor that the condemnor offers to make an award or settle a claIm lor damages, Trustor /ails to respond to Beneliciary within thirty (30) days aflar the date such notice is malled, Beneficiary /s authonzed to collect and apply the proceeds In fhe manner indicated herein. The proceeds of any award or claim may, after deductmg all reasonable costs and expenses, includmg altorney fees, which may have been incurred by BenefiCiary in the col/ection thereof, at the sole discretion 01 Benelic/ary, be released to Trustor, applied to restoration 01 Trust Property, or applied to the payment of the Indebtedness. Unless BenefiCiary and Trustor otherwise agree In writmg, any such application 01 proceeds to Indebtedness shall not extend or postpone the due date of the Note or the payment of any installments called for thereunder. 12. Trustor Not Released, Extension 01 the time lor payment or modification of any amortlza/lOn ollhe Indebtedness granted by Bene/lclary to any successor in interest 01 Trustor shall no/ operate to release, in any manner, the liabilIty of Trustor and Trustor's successors III In/arest. Beneficiary shall not be requIred to commence proceedings agalllst such successor or refuse to extend tIme lor payment or otherwise modily amortization 01 the Indeb/edness by reason 01 any demand made by Truslor and Trustor's successors In Int,,,,.,st, t3. F/nanci8llnformallorl, Upon request ot BenefiCiary. Trustor WIll prowde to Benellclary, wlth,n IIInety f90) days 01 the close of e/ICllllsca! year of Trustor, the consolidated be/ance sheet and stalement 01 earnmgs 01 Trustor and any and all guarantors of the Indeb/edness secured hereby, If any, and wl!1 prOVIde and deliver ro Benelic,ary such other finanCial m/ormatlon and m such manner liS Bene/iclary mal' reasonably request from time to time, '4 F/fIlJncJlIl Covenants. In addition to any other tinanclal covenants 01 Trus/or made many orher agreement msrrument or documerl/. Trustor sholl comply with and shaff ceuse any and p.ff guarantors 01 the Indebledness secured hereby to comply W'fh, or /", In compNanco With, the lollowing finenc/al covenant.~ (ThIS paragreph shall nOI apply" covlmanls and mqwI/!",unrs are nol ."" forth herom 1 '5 Schedule 01 Loases WI/tlln len "01 days after demand. TnJstor ..hall IurlllShlo BOn"'lCl8ry n schedule Cl"11I1,,.1 f,' II, r'{lSfnl wthng fotV11J11 19an.IS of rhe rrusl Properly, or any portIon theroof. Includmg In oach case, the fll1mn of tht! (t"lniJflr!\ elf c~ l'lJ/"lrlts Ir dpSCf1f)tllll1 at rho spoce OCCUpied by such tonant 01 occupant. tlto r[mta/payable for .I)UI-r, ~{hlCO tWI1 o;U.-l1 n/fHlf ,,,/tumtlllpl! find c1t'I.umrmls WItt. respoc; to !Wch '88S0~ and ten8f1CI03 3.9 fj(tnCJf1C/Orv moy f{1asonntJ/y rnQtJnst ....t CO r~ .....