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<br />88-104854
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<br />msurance premiums. ground rents. and all other charges wharsoever lev/od upon or assossed. placed or made against the Trust
<br />Properry. TroslOr funhe, agllHlS, upon writffln requasl by Bsnoliclaty, 10 promprly dolivo, ro Bonaliciaty all ,acelpro lor Iha poymonr or
<br />suCh charges. Trustor likewise agrees to pay alllaxes, assessments and other charges levied upon or assessed, placed or made
<br />ogalnsl, or measureel by, Ihls Deed 01 Trost or rho rocorr/otlon horeol.
<br />5 Applicorion 01 Paymonls. All paymenrs receivod by Boneficlaty as 10 any debl, liability or obllgarlon owed to Bonoficloty by Truolo,
<br />may be applied by Beneficlaty 10 tho paymenl 01 rIlelndoblsdnoss 0' ro any SuCh Olher debt. liability 0' obtlgatlon, In any o,de, or
<br />man"", 01 sppllcalion which Bensficlsry, In Ito absolule discretion. deems epproprlote. Unloss olheTWlse olected by Beneficlety, any
<br />such peymenl sholl be deomod opplled first to the peymenl or any dsbl. /lability 0' obllgetlon othe, Ihan tha Nore.
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<br />6. Chargos; Uons. TroslO, will keep Iho Trost Proparry lrealrom all tlans ond encumbrances which In any way msy, In the Judgment 01
<br />Beneficiary, have priority over, or impair the security at. this Deed of Trust bur Trustor need not discharge any such lien so long as
<br />TroslOr shall egree, In writing, 10 psy the obligsl/on securad by such /len In a manner ecceprable 10 Benerlclaty and shall In good lalrh
<br />contesl such /len by spproprlals legal proceedings sl/ectlve to provsnl rhe enlorcement 01 Ihellen end rhe loss 01 any Interest In or
<br />part 0/ rile Trust Property.
<br />7. Huard Insurance. Trustor shall keep the buildings and other Improvements now exlsllng or hereafter erected on the Trust Property
<br />insured by Insurance carriers satisfactory to Beneficiary against loss by fire. hazards included in the tann "extended coverage" and
<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 polley of Insurance shall be in form acceptable to Beneficiary, provide that the same may not be
<br />cancelled or modified without fiftean (15) days prior written notice to Beneficiary, and shaft 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 paragraph 4 hereof
<br />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
<br />canie,. Bens6ciary shell have the right to hold the policies and ranewals Ihsraof and Trusto, shell promplly furnish to Bene/lclery ell
<br />fBnewal notices and all paid premium receipts received by It. In no event shall BeneficlsTY or Trustee be held responsible for failure to
<br />pay insurance premiums or for any loss or damage arising out of a defect In any policy or arising out of any failure of any Insurance
<br />company to pal' for any loss or damage insured against or for failure by Trustor to effect the insurance required hereunder. In the evant
<br />of (ass, Trustor shall give prompt notice by mail to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not
<br />made promptly or in proper form by Trustor. Al( policies of insurance and any and all refunds of unearned premiums are hereby
<br />assigned to Baneficiary as additional security for the paymant of the Indabtedness. In the event of Beneficiary's exercise of the power
<br />of sale contained 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 any loss, the Insurance proceeds may, at the option of
<br />Beneficiary, be applied by Beneficiary upon the Indebtedness, or any part thereof, and in such order and amount as Beneficiary may
<br />determine; or said Insurance proceeds, at the opUon of Beneficiary, may either be used In replacing or restoring the Trust Property
<br />partially or totally destroyed to a condlrion satisfactory to Beneficiary; or said Insurance proceeds, or any porllon thereof, may be
<br />released to Trustor. Unless Beneficiary and Trustor otherwise agree in writing, any such application of Insurance proceeds sha" not
<br />extend or postpone the due date of the Note, or any instailments cailed for therein, or change the amount of such Insta((mants. If the
<br />Trust Property is acquired by Beneficiary pursuant to the exercise of the power of sale or other foreclosure, a/l right, title end Interest of
<br />Trustor in and to any insurance proceeds payable as a result of damage to the Trust Property prior to the sale or acquisition shalf pass
<br />to Beneficiary and shall be applied first to the costs and expenses, Including attorney tees, Incurred in collecting such proceeds, then
<br />in the manner and in the order provided herein.
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<br />8. Preservation and Maintenance 01 Trust Property. Trustor will keep the 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 />constituting any building now or horeafter erected on and constilUting the Trust Property without the prior wriNen consent of
<br />BenefiCIary, wiil not do any act or thing which would unduly impair or depreciate lhe value 01 the Trust Property and will nor abandon
<br />the Trust Property. Trustor will nor romove any fixtures constituting the Trust Property unless the same arB immediately replaced with
<br />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
<br />aI/ present and future ordinances, regulations and requirements of any governmental body which are applicable to Ihe Trust Properly
<br />and to the occupancy and use thoreof, /I this Deed of Trust Is on a unit in a condominium or a planned unit development, Trustor shall
<br />perform all of Trustor's obflgstlons under lhe declarations or covenants creating or governing the condominium or the planned unit
<br />development. the bylaws and regulations 01 the condominium or planned unit development, and the constituent documents.
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<br />9. Inspection. Beneliciary or its agents may, at all reasonable times, enter upon the Trust Property for the purpose of Inspection.
<br />Benel/clary shall have no duty to make such Inspection and shall not be liable to Trustor or to any person In possession il it makes or
<br />falJs to make any such Inspection
<br />10. Protection 01 Security. If Trustor lails to perform any of the covenants and agreements contained in this Deed of Trust, or if any action
<br />or proceeding IS commenced which does or may adverse(y affect the Trust Property or the interest of Trustor or Benal/ciary therein or
<br />the tit/e of Trustor thereto, thon Beneficiary, at its option, may perform such convenants and agreements, make such appearances,
<br />defend against and InvestIgate such acllon or proceeding and take such other action as Benel/clary deems necessary to protect its
<br />interest Including, but not limited to, disbursement of reasonable aNomey fees and entry upon the Trust Property to make repairs. Any
<br />amounts disbursed by Beneficiary pursuant to this paragraph 10, with Interest thereon, shall constitute Indebtedness of Trustor
<br />secured by this Deed 01 Trusr. Unless Trustor and Beneficiary agree to other terms 01 payment, such amounts shall be payable upon
<br />notica from BenefiCiary to Trustor requesting payment thereof, and shall bear interest from the dale of disbursement at the default rate,
<br />if any. set forth in the Note, or otherwise at the highest rate permitted by law. Nothing contained in this paragraph shall require
<br />Beneficiary to incur any expense or take any action hereunder. Trustor irrevocably authorizes and empowers Beneficiary to enter upon
<br />the Trust Property as Trustor's agent and, in Trustor's name or otherwise to perform any and all covenants and agreements to be
<br />performed by Trustor as herein provided. Beneficiary shall, at its option, be subrogated to any encumbrance, lien, claim or demand
<br />and to all rights and securities for the payment thereol paid or discharged by Beneficiary under the provisions hereof and any such
<br />subrogation rights shall be additional and cumulative security for this Deed 01 Trust.
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<br />1,. Condemnation. The proceeds of any award or claim IDr damages, direct or consequential, in connection with any condemnation or
<br />other taking 01 the Trust Property, or any part thereof. or for conveyance in (ieu of or in antiCipatIon of condemnation, are hereby
<br />assigned to and shall be paid to Beneficiary. Trustor will file and prosecute. in good faith and with due difigence, its claim for any such
<br />award or payment, and will cause the same to be collected and paid to Beneficiary, and, should it fail to do so, Trustor irrevocably
<br />authorizes and empowers Beneficiary, in the name 01 Trustor or otherwise, to file, prosecute, settle or compromise any such claim and
<br />to collect, receipt for and retain the proceeds. If the Trust Property Is abandoned by Trustor, or, after notice by Beneficiary to Trustor
<br />that rhe condemnor olters to make an award or settle a claim for damages, Trustor fails to respond to Beneficiary within thirty (30) days
<br />alter tho date _o::uch notice Is mailed, Beneficiary is authorized to collect and apply the proceeds in the manner indicated herein. The
<br />proceeds of any award or Cl8lm may, after deductmg all reasonable costs and expenses, including attorney lees, which may have
<br />been incurred by Beneficiary in the collection thereo/, at the sole discretion of Beneficiary, be released to Trustor, applied to
<br />restoration of Trust Property, or applied to the payment of the Indebtedness. Unless BenefiCIary and Trustor otherwise agree in writing,
<br />any such IJpplication of proceeds to Indebtedness shal/ not extend or postpone the due date of the Note or the payment of any
<br />installments catled for thereunder.
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<br />12. Trustor Not Released. Extension of the time lor payment or modification of any amortizatIon of the Indebtedness granted by BenefiCiary
<br />to any successor in Interest of Trustor shall not operate to release, In any manner, the liability 01 Trustor and Trustor's successors In
<br />interest. Beneficiary shall not be required to commence pToceedlngs against such successor or refuse 10 9>t.tend rime tor payment or
<br />otherwise modify amorlization 01 the Indebtedness by reason of any demand made by Trustor and Trustor's successors
<br />In Interest
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<br />13. Financial (nlormation. Upon request 01 Beneficiary, Trustor Will providg to Beneliclary. wlthm ninety (90) days o( the close 01 each fIscal
<br />yellT 01 Trustor, the consolidated balance sheat and statemellt of earnings of Trustor and any and all guarantors of the Indebtedness
<br />secured hereby, if any. and will provide and deliver to BenefiCiary such olher finanCial Inlormatlon and In such manner as Bonoflclary
<br />may mBsonlJbly mquest from tIme to time
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<br />J4. Financial Covenants. In oddlllon 10 any other fmanCia} covenants. 01 Trustor made In any other agreement. Instrument or document,
<br />TrusfO/ shal( comp1r WIth and shall cause eny and 811 guarantors 01 the Indebtedness secured herobv fo comply With. or bo In
<br />compliance WIth. tfJe tOllowlng tlnancml covenants (TtTls paragraplJ sha1/ not apply If covenaflfs and reqUIrements me flor sor
<br />tOt1h herom I
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<br />t5 SChtldule of Loa$os Wlttlm ron f 10) day' "ltUt domand. Trustor s/lall furnish fa BonetlcI,lry iJ .'iClltI(1ule certlfIlH1/{l fll' T'I/MOI saNmq
<br />rorth aIf 104S0S Of rhe T,us, Proport)l 01 ~lny poltton ",oroot. Inc/udln!} In each CHSO. tho name (11 rho rfmfl1l1~ (If p, ,'IJ:'dnt.. .1 (/11...0'11;/11(1
<br />01 tho .pllCO OCCup'Bc1 by IU.'CI'I ranan! ()I occupan'- ltlo rontal payab/o 10f SUC'l SpsCU .100 SUI'" I l(tltl! ,n'l lHf"'lflt 1/' ,11t,1 doell/llt""." 1"11"
<br />,,,,peer ro BucIl 10.0101 iln(1 ronanC/o' liS llenotlCtaf}l ~Ily foasonabJy 'oquosr
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