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88105204
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88105204
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Last modified
3/9/2007 5:41:42 PM
Creation date
3/9/2007 4:41:23 AM
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DEEDS
Inst Number
88105204
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<br />88- 105204 <br /> <br />2. TAXES. Trustor shall pay each installment of all taxes and <br />special assessments of every kind, now or hereafter levied against the Trust <br />Estate or any part thereof, before delinquency. without notice or demand. and <br />shall provide Beneficiary with evidence of the payment of same. Trustor shall <br />pay all taxes and assessments which may be levied upon Beneficiary's interest <br />herein or upon this Deed of Trust or the debt secured hereby. without regard <br />to any law tbat may be enacted imposing payment of the whole or any part <br />thereof upon the Beneficiary, <br /> <br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended <br />coverage insurance insuring the improvements and buildings constituting part <br />of the Trust Estate for an amount no less than the amount of the unpaid <br />principal balance of the Note lco-insurance not exceeding 80' permitted). <br />Sucb insurance policy shall contain a standard mortgage clause in favor of <br />Beneficiary and sball not be cancellable. terminable or modifiable without ten <br />(10) days prior written notice to Beneficiary. Trustor shall promptly repair. <br />maintain and replace the Trust Estate or any part thereof so that. except for <br />ordinary wear and tear. the Trust Estate shall not deteriorate. In no event <br />shall the Trustor commit waste on or to the Trust Estate. <br /> <br />4. ACTIONS AFFECTING TRUST ESTATE, Trustor sball appear in and <br />contest any action or proceeding purporting to affect the security hereof or <br />the rights or powers of Beneficiary or Trustee. and shall pay all costs and <br />expenses. including cost of evidence of title and attorney's fees. in any such <br />action or proceeding in which Beneficiary or Trustee may appear. Should <br />Trustor fail to make any payment or to do any act as and in the manner <br />provided in any of the Loan Instruments. Beneficiary and/or Trustee, each in <br />its own discretion. without obligation so to do and without notice to or <br />demand upon Trustor and without releasing Trustor from any obligation. may <br />;make or do the same in such manner and to such extent as either may deem <br />necessary to protect the security hereof. Trustor shall. immediately upon <br />demand therefor by Beneficiary, pay all costs and expenses incurred by <br />Beneficiary in connection with the exercise by Beneficiary of the foregoing <br />rights. including without limitation costs of evidence of title. court costs, <br />appraisals, surveys and attorney's fees. Any such costs and expenses not paid <br />within ten (10) days of written demand shall draw interest at the default rate <br />provided in the Note. <br /> <br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or <br />interest therein, be taken or damaged by reason of any public improvement or <br />condemnation proceeding. Dr in any other manner including deed in lieu of <br />Condemnation ("Condemnation"), or should Trustor receive any notice or other <br />information regarding such proceeding, Trustor shall give prompt written <br />notice thereof to Beneficiary. Beneficiary shall be entitled to all <br />compensation, awards and other payments or relief therefor. and shall be <br />entitled at its option to commence. appear in and prusecute in its own name <br />any action or proceedings. Beneficiary shall also be entitled to make any <br />compromise or settlement in connection with such taking or damage. All such <br />
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