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<br />PF R[Cll!l" , 8R- 1 nc;1l23 86-- 106072
<br />,nsuranco prom/urns. ground roms. and oil othor chargos w~atsoovDf-/~~ Upon or assossod, placod or modo or/alnst tho Trust
<br />Properry. Trustor turrher 8gro0.9, upon wnrton roquast by Benoflclary. to promptly dolillor to Bonaficiary all rocoipls lor tho paymont of
<br />such chstgos. Trustor likewlso sgroos to pay all flUOS. assessments and othor chsrgos Joviod upon or assossod, placod or modo
<br />against, Of measured by, this Deed of Trust or rho recordation hereof.
<br />5. ApplieDNon 01 Paymants. All paymonts reee/vad by Banolie/ary as /0 any dabl, liability or ob/lgallon owod 10 Banof/elary by Truslor
<br />may be applied by Banalie/ary 10 ma paymon/ ol/ho Indab/adnass or to any such Olhar dobl. liability or obI/gallon, /n any ardor or
<br />manner ot application which Beneficiary. In its absoluta discretion. deoms appropriate. Unless "therw/so electod by Bonaf/clary. any
<br />such payment shall be deomed applied first fa the payment or any debt. liability or obligation other than the Note.
<br />6, Charges: Uens. Trustor will keep the Trust Property free from aliI/ens 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 dlschargo any such /ien so (ong as
<br />Trustor shaJJ agree, in writing, to pay the obligation secured by such fien in a manner acceptable to BenefiCiary and shall In good faith
<br />contest such tien by appropriate legal proceedings effective to prevent the enforcement of the lien and the loss of any Interest In or
<br />pan olma Trust Proparty.
<br />7. Hazard Insurance. Trustor shall keep the buildings and other improvements now BKisting or hereafter erected on the Trust Property
<br />insured by insurance carriers satisfactory to Beneficiary against (ass by fire, hazards included in the tenn "oxt6nded 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 policy Of insurance shall be in form acceptable to Beneficiary, provide that the same may not be
<br />cancel/ed or modified without fifteen (15) days prior wrinen notice to Beneficiary, and shall have loss payable provisIons In favor of and
<br />in ,'arm 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 />carrier. Beneficiary shall have the right to hold the policies and renewals thereof and Trustor shall promptly furnish to Beneficiary aI/
<br />renewal notices and all paid premium receiprs received by it. In no event shall Beneficiary 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 o~ any insurance
<br />company to pay for any loss or damage insured against or for failure by Trustor to effect the insurance required hereunder. l~ the event
<br />of loss, Trustor shall give prompt notice by mail to the insurance carrier and Beneficiary. Beneficiary may make proof of loss ,f not
<br />made prompVy or in proper form by Trustor. All poliCIes of insurance and any and all refunds.of unearned premiums are hereby
<br />assigned to Beneficiary as additIOnal secunty for the payment of the Indebtedness. 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 pan thereof, and in such order and amount as Beneficiary 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 condih'on satisfactory 10 BenefiCiary; or said insurance proceeds, or any portion thereof, may be
<br />released to Trustor. Unless BenefiCiary and Trustor otherwise agree In writing, any such appfication of insurance proceeds shall not
<br />extend or poslpone the due date of the Note, or any mstaflments called for fheraln. or change the amount of such instal/ments. If the
<br />Trust Property IS acquired by Beneficiary pursuant to the exercIse of the power of sale or other foreclosure. all right. title and interest of
<br />Trustor In and to any insurance procc+eds payable as a result of damage to the Trusf Property pn'or to the sale or acquisition shall pass
<br />to Beneficiary and shall be applied first to the costs and expenses. Including anorney lees, incurred in collecting such proceeds. then
<br />in the manner and In the order proVIded herein
<br />8. Preservation and Maintenance of Trusl Property. Trusror will keep the buildmgs and other .mprovements now or hereafter erected on
<br />the Trust Property in good repair and condition and wifl nor commit or permit waste. wi/( not alter the design or structural character
<br />constituting any building now or hereafter erected on and constituting the Trust Property without the prio. written consent of
<br />Beneficiary, will not do any act or thing which would unduly Impa" or depreCIate the value of the Trust Property and will not abandon
<br />the Trust Property. Truslor will not remove any fixtures constituting the Trust Property unless the same are immediately replaced with
<br />like property subject to the lien and security Interest of this Deed of Trust and of at least equal value and utility, Trustor will comply with
<br />all present and future ordinances. regulations and requirements of any governmental body which are appficable 10 the Trust Property
<br />and to the occupancy and use thereof. If thIS Deed of Trust IS on a unit In a condominium or a planned unit development, Trustor shall
<br />perform all of Trustor's obligations under the declarations or covenants creating or governing the condominium or the planned unit
<br />development, the bylaws and regulations of the condomlmum or plannfJd unit development. and the constituent documenls
<br />9, Inspection. BenefiCiary or its agems may, at a/J reasonabfe times, enter upon the Trust Property for the purpose of inspection
<br />Beneficiary shall have no duty to make such Inspection and shall not be liable to Trustor or to any person ;n possession if it makes or
<br />fBils to make any such tospectlon.
<br />10. Protection 01 Secunty. If Trustor falls to perfonn any of the covenants and agreements contained to this Deed of Trust, or If Any action
<br />or proceeding is commenced which does or may adversely affect the Trust Property or the .nterost of Trustor or BenefiCIary therein or
<br />tha tiVe of Trustor thereto. then BenefiCIary. at Its option, may perform such convenants and agreements. make such appearances.
<br />defend against and in\lestlgate such action or proceeding and take such other action as Beneficiary deems necessary to protect its
<br />mterest including, but not limited to. disbursement of reasonabte attorney fees and entty upon the Trust Property to make repairs. Any
<br />amounts disbursed by BenefICiary pursuant to fhis paragraph 70. with interest thereon. shall constitute Indebtedness of Trustor
<br />secured by this Deed of Trust. Unless Trusror and Beneficiary agree to other terms of payment, such amounts shall be payable upon
<br />notice from Beneficiary to Trustor requBshng payment thereof. and shall bear mterest from the date of disbursement at the default rate,
<br />if any, set forth m the Note. or otherwIse at the highest rate perrnined by taw_ Nothing contained in this paragraph shall require
<br />Beneficiary to Incur any expense or take any action hereunder. Trustor ,"evocably authorizes and empowers Beneficiary to enter upon
<br />the Trust Property as Trustor's agent and. in Trusro,.s name or otherwise to perform any and all covenants and agreements to be
<br />performed by Trustor as herem provided. BenefiCiary shall. at its option. be subrogated to any encumbrance, hen, claim or demand
<br />and to all fights and secunties lor the payment thereof paid or dIscharged by Benef/crary under the (Jrovisions hereof and any such
<br />subrogation nghts shall be additional and cumulatIve secunty for thIS Deed of Trust
<br />11 Condemnation. The proreeds of any award or ctwm for damages, dIrect or consequentlaJ. In connection with any condemnatIon or
<br />other taking of the Trust Property. or any pat1thereof, or for conveyance In ',eu 0' or In anticipation of condemnatIOn. BrB hereby
<br />assigned to and shall be paId to Beneficlary_ Trustor will file and prosecute. In good faIth and wrth due diligence. its claIm for any such
<br />award or payment, and wiIJ cause the same 10 be collected and paid to Beneflcrary, and. should it fail to do so. Trustor Irrevocably
<br />authorizes and empowers Beneficlsry. in the name of Trustor or otherwise. ro file. prosecutB. settle or compromise any such claim and
<br />to cotJ.act, receipt for and retain the proceeds. If the Trust Property rs abandoned by Truslor, or. after notice by Beneflcrary to Truslor
<br />that the condemnor offers to make an award or senJe a claim for damages. Truslor falls to respond to Benef.clsry wlthm thIrty (30) days
<br />after the date such notice is mailed. BeneficIBty IS authonzed to co/lecr and apply fhe proceeds In the manner rodicared herem. The
<br />proceeds of any award or cJwm may. after deductmg all reasonable costs and el(penses. including attorney fees. whIch may have
<br />been Incurred by Beneficiary In the coUsction fhereof. at the sole dIscretion of BenefICiary. be released to Trustor. applied 10
<br />restoration of Trust Property. or applied to rhe payment of the Indebtedness. Unless BenefiCIary and Trustor otherwIse agree In wntmg,
<br />any such application of proceeds to Indebtedness shalf not extend or postpone the due date of the Note or the payment of any
<br />Installments called for thereunder.
<br />12 Trustor Not Released. Extensron of the time for payment or mOdrficBtJon of any amorflzalJOn of the Indebfedness granted by BenefICIary
<br />to any successor '" ,"rerost of Trustor shall not operate to re/esse. In any manner, the tlabJiity of Trustor and Trustor's successors In
<br />Interest. Beneficiary shall not be reqUired to commence proceedings agaInst such successor or refuse fa extend time for paym~nt or
<br />otherwise modify amortizatIon 01 the Indebtedness by reason of any demand made by Trustor and Trusfor's successors
<br />m Interest
<br />t3 FmanCIal fnfotmaooll Upon request of BenefiCIary. Trustor WIll proVide ro BenefiCIary. WIthIn (nnaty (90) days of the close 01 each fiscal
<br />year 01 Trustor. the consolIdated balance sheer and statement of earnings of Trustor and any and atl guarantors at the Indebtedness
<br />secured hereby. if any. and WIll proVIde and detlver to Benef/cmry such artier finanCIal mformatlon and In such mannsr as Benel/clary
<br />may tsa.sonatJty request from time 'a tJms.
<br />f4 Ftnanow Covenants In addItIOn 10 aoy other fmanclal covenants of Trustor made In any other agreement. IIIstrumpnf or document
<br />"us.tO! shall comptr wtrh and Shall cause any nod all guarantors of the Indebtedness secured hereby to compl~' wlrh Of bv In
<br />complll~nc8 wtth rhe folJowmg fmanClal cOllenllnts / ThIS paragraph shall not applv If covenants 8n(1 '8QW,po'Tlfmts iUP nor ~Wr
<br />Iorrtl herom ,
<br />,~ ScflOdule of LeBsD5 Wlrtun Ion (101 r1lJYs etrer c1omsnc1. Trustor sflali furnIsh to Ben~ttr','lf)' a sctleQulr> ,~''1'''p{,., (,~ :',,~,'(t' ".tTI"tJ
<br />Iottfl gJl lOllses 01 the 7rus' Proporty or an.' porrlon rf1oreof ,"eluding In each Clue (tit! nrtmp cof rhp leflunr.... ,,, "('rv'f',., ,11''0. .,prltll'
<br />01 thfJ spttcft occupted h~ such r&nanllIT occupanl. tho ronfal payable lor su-:-tI spar,. nnr1 "tit ~"','h,,, ''''1'\'''',11', ,. ~"', "'. ;/,.tI''''.~ \\,11"
<br />respect fo s.ucll /oases and r.,nanDDlI IU BonoflCISrr mer '8i1Sonatlt.... r"Ql1f1!ir
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