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<br />88- 10~Ll07 <br /> <br />shall pay all taxes, assessments, public charges and insurance <br />premiums as otherwise herein provided. <br /> <br />6. Sums Advanced to Bear Interest: To pay immediately <br />upon demand any sums advanced or paid by Beneficiary or Trustee <br />under any clause or provision of this Deed of Trust. Any such <br />sums, until so repaid, shall be secured hereby and bear interest <br />from the date advanced or paid at the same rate as the <br />Promissory Note and shall be secured by this Deed of Trust. <br /> <br />7. Assignment of Deposits: That as further additional <br />security if this be a construction loan, Trustor hereby <br />transfers and assigns to Beneficiary during continuance of these <br />Trusts, all right, title and interest to any and all monies <br />deposited by Trustor or deposited on behalf of Trustor with any <br />city, county, public body or agency, sanitary district, gas <br />and/or electric company, telephone company and any other body or <br />agency, for the installation or to secure the installation of <br />any utility by Trustor, pertaining to such property. <br /> <br />8(a). Failure of Trustor to Comply with Deed of Trust: <br />Should Trustor fail to make any payment, or to do any act as <br />provided in this Deed of Trust, or fail to perform any <br />obligation secured by this Deed of Trust, or do any act Trustor <br />agreed not to do, Trustor shall be in default under this Deed of <br />Trust. Beneficiary, but without obligation so to do and without <br />notice to or demand upon Trustor and without releasing Trustor <br />from any o~ligation hereof and without contesting to the <br />validity or amount of the same, may (1) make or do the same in <br />such manner and to such extent as it may deem necessary to <br />protect the security hereof, Beneficiary being authorized to <br />enter upon such property for such purposes, and (2) pay, <br />purchase, contest or compromise any encumbrance, charge or lien, <br />which in its judgment is or appears to be prior or superior <br />hereto, and (3) in exercising any such power, pay necessary <br />expenses, employ counsel and pay his reasonable fees. Trustor <br />agrees to repay any amount so expended on demand of Beneficiary. <br /> <br />8 (b) . Additional Representations and Warranties: That in <br />addition to the foregoing covenants of Trustor, Trustor further <br />covenants and warrants to secured party that: (1) the making, <br />execution and performance by Trustor of the loan secured hereby <br />and the transactions contemplated hereby, have been duly <br />authorized by all necessary corporate action and do not, and <br />will not, violate any provision of law or any provision of the <br />Articles of Incorporation or Bylaws of the Trustor, or result in <br />the breach of, or be a default under, any indenture or other <br />instrument to which Trustor may be bound or affected: and that <br />the Promissory Note, this Deed of Trust and the Assignment of <br />Leases and Rents securing the Promissory Note (the "Loan <br />Documents") are valid and binding agreements, enforceable in <br />accordance with their terms: (2) there is no action, proceeding <br />or investigation pending, or to the knowledge of Trustor <br />threatened, or any basis therefore, which might materially <br /> <br />-8- <br />