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<br />msu,anco p'omlUms. ground ,onrs. and 01/ olho, c"argos whatsoovo' 10Vlod upon or assossod. placod ~~n-;;;faoQsRh1,?us9
<br />Proporty. Trustor (u,1hor agroes. upon wnrran request by Benefic/sry, to promptly deliver to Benorlclary all receIpts lor tho ;'laymon' 01
<br />such chargos. Trustor likewise agrees to pall al1 taxes. assossments and other charges lov/ed upon or assessed, placed or modo
<br />against, Of moasured by, this Deed of Trust or rho recordetion horeof.
<br />5. Application of Payments. All payments received by Beneficiary 8S to any debt, liability Of obligation owod to Beneficiary by Trustor
<br />may be applied by Beneficiary to rho payment of tho tndebtedness or to any such other debt, liability or obligation, in any order or
<br />mannor of application which Beneficiary, in its absolute discretion, deems appropriate. Unless otherwise electod by Baneflc/ary, any
<br />such paymanr shall bEl deemad applind lirst ro tha payman! 01 any dabt. I/ebilily ar abl/gal/an ather than !he Natn.
<br />6. Charges: Uons. Trustor will keep the Trust Property free from afllions and encumbrances which In sny way may. In the judgment of
<br />Benefic/sTY, have priority over. or Impsir the security a', this Deed of Trust but Trustor need not discharge any such lion so long as
<br />Trosror shal/agree, /n writing, ro pay !he obl/gallan sacurad by such I/en /n a manna, accaptabla ta Banef/clery and shal/ln good faith
<br />contest such flen by appropriate legal proceedings effective to prevent the enforcement of the f1en and the (OS5 of any Interest In or
<br />pert 01 me Trost Property.
<br />7. Hazard InsurancR. Trustor shall keep the buildings and other improvements now existing or hereafter erected on the Trust Property
<br />insured by Insurance carriers satisfactory to Beneficiary against loss by firo, hazards (ne(uded in the term "extended coverage" and
<br />such other hazards, casualties and contingencies as may be required by Benefic/8I}'. in such amounts and for such periods as may ba
<br />required by Beneficiary. The policy of Insurance shalf be in form acceptable to Beneficlsry, provide that the same may not ba
<br />cancelled or modified without fifteen (15) days prior written notice to Beneficiary, and shall have loss payable provisions In favor of and
<br />in form acceptabfe 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. Benefici8/Y shall have the right to hold the policies and renewals thereof and Trustor shall promptly furnish to Beneficiary all
<br />renewal notices and all paid premium receipts received by it. In no event shall Beneficiary or Trusree 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 pay for any loss or damage insured ageinst or for failure by Trusror to effect the insurance required hereunder. In the event
<br />of loss, 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. All policies of insurance and any and all refunds. of unearned premiums Bre hereby
<br />assigned to Beneficiary as additional security 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. af( right, tir/e and interest of Trustor In and to any Insurance policy then in force
<br />shalt pass to the purchaser at the trustee's sale or foreclosure sale. In case of any foss, 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, ar the option of Beneficiary. may eilher be used in replacing or restoring the Trust Property
<br />partially or totally destroyed to a condition satisfactory to Beneficiary; or said tOsurance proceeds, or any portion thereof, may be
<br />released to Trustor. Unless Beneficiary and Trustor otherwise agree In writing. any such application of insurance proceeds shall not
<br />extend or postpone the due date of the Note, or any installments called lor therein. or change the amount of such installments. 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 fa any insurance proceeds payable as a resull of damage to the Trust Property prior to the sale or acquisition shall pass
<br />fD Beneficiary and shall be applied first to the costs and expenses, including atromey fees, incurred in collecting such proceeds, then
<br />in the manner and In the order provided herein.
<br />8. Preservation and Maintenance of Trust Property. Trustor wi/f koep the bUIldings and other improvements nr.w or hereafter erected on
<br />the Trust Property in good repair and condition and will not commit or permit wasre, wiff not aller the design or structural character
<br />constituting any building now or hereafter erected on and constituting the Trust Property without rhe prior written consent of
<br />Beneficiary, wJII not do any act or thing which would unduly impair or depreclata the valua of the Trust Property and will not abandon
<br />the Trust Property. Trustor will not remove any fixtures constituting the Trust Property unless the same are immediatefy replaced with
<br />like property subjecr to the lien and security interest of this Deed of Trust and of at least equal value and utility. Trustor wJII comply with
<br />all present and future ordinances, regulations and requirements 01 any govornmental body whIch are applicable to the Trust Property
<br />and fo the occupancy and use thereol. fI this Deed of Trust IS on a unit in a condomimum or a planned unit development. Trustor shaff
<br />perform alf 01 Trustor's obligalions under the declarations or covenants creating or gOllerning the condominium or the planned unit
<br />development, the bylaws and regulations of the condominIUm or pfanned Unit development, and rhe consrituent documents.
<br />9. Inspection. Beneficiary or its agents may, at al/ reasonable limes. enter upon the Trust Property for the purpose of Inspection.
<br />Beneficiary shall have no duty to make such inspection and shaH not be liable to Trustor or to any person in possession if It makes or
<br />fa/ls to make any such inspection.
<br />10. Protection of Security. If Trustor faJJs to pet10rm any of the covenants and agreements contained in this Deed of Trusr, or il any action
<br />or proceeding is commenced which does or may adversely affect the Trust Property or the Intorest of Trustor or Beneficiary therain or
<br />the tiflo of Trustor lherefD, then Beneficiary, at its option, may perform such convenants and agreements, make such appearances,
<br />defend against and investigate such action or proceeding and take such other act/on as Beneficiary deems necessary to protect jts
<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 fo this peragraph 10, with interest thereon, shalf constirute Indebtedness of Trustor
<br />secured by this Deed of Trust. Unfess Trustor and Beneficiary agree to other terms of payment, such amounts shall be payable upon
<br />notice from Beneficiary to Trustor requesting payment rhereof, and shalf bear Interest from the date 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 cOl/enants and agreements 10 be
<br />performed by Trustor as "erein provided. Beneficiary shall, at its option, be subrogated ro any encumbrance, lien, claim or demand
<br />and to all rights and securities for the payment thereof paid or discharged by Beneficiary under the provisions hereof and any such
<br />subrogation rights shall be additional and cumulative security for this Deed of Trust.
<br />77. Condemnation. The proceeds of any award or claim for damages, direct or consequential, In connection with any condemnation or
<br />other taking of th9 Trust Property, or any part thereol, or for conveyance in lieu of or in anticipation 01 condemnation, are hereby
<br />assigned to and shall be paid to Beneficiary. Trustor will fiJe and prosecute, in good faith and with due difigence. its claim for any such
<br />award or payment. and wiJ/ 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 lhe name of Trustor or otherwise, to fife, prosecute, settle or compromise any such claim and
<br />to collect, receipt for and retain the proceeds. /I the Trust Properly is abandoned by Trustor, or, after notice by Beneficiary to Trustor
<br />that the condemnor offers to make an award or settle a claim for damages, Trustor fails to respond to Beneficiary within rhirty (30) days
<br />after the date such notice is maifed, Beneficiary is authorized to collect and apply the proceeds in the manner indicated herein. The
<br />proceeds of any award or claim may, after deducting all reasonable costs and expenses, including attorney fees, whIch may have
<br />been incurred by Beneficiary in the collection thereof, 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 Trusror otherwise agree in writing.
<br />any such application of proceeds to Indebtedness shall not extend or postpone the due date of the Note or the payment of any
<br />installments called for thereunder.
<br />12. TrusfDr Not Released. Extension of the time for payment or modification 01 any amortization af fhe Indebtedness granted by BenefiCIary
<br />to any successor in interest of Trustor shall not operare to release, in any manner, the liability of Trustor and Trustor's successors m
<br />interest. Beneficiary shall nof ba required to commence proceedings against such successor or refuse to extend time for payment or
<br />otherwise modify amortization of the Indebtedness by reason of any demand made by Trustor and Trustor's successors
<br />In Interest.
<br />13. Financial Information. Upon request of Beneficiary, Trustor will provide to Beneficmry, wlthm ninety (90) da~'s of the close of each IIscal
<br />year of Trustor, the consofJdated balance sheet and statement of earnings 01 Trustor and any and all guarantors of the Indebtedness
<br />secured hereby, if any, and will proVide and detiver 10 Beneficiary such other (lnancllll mlormarlon and in such manner as BeneflChlry
<br />may reasonably request from time to lime.
<br />14 FinanCIal Covenants In addition to any other fmanClal covenants o( Trustor made to BnV other agreemenr. Instrument or document
<br />Trustor shall comply WIth and shall cause any and all guarantors of the Indebtednoss secured horebv ro comp/v WIth. or bn lfl
<br />comp/l8nce WIth, the followmg finanCIal covenants (ThiS paragraph shall nor apply If covenanfs and reqUIrements clru nor 5fH
<br />forth herom i
<br />'5 Schedule 01 Leases WIthin len (la' days aher demand. Truslor shall furnish fa BOrJofu:mry if 5chedlJ/tJ_ ,ortl!m('f fn b~ Trll~'(l/ ~tJN"lL)
<br />forth all/eases 01 the Trust Proportv. or an~' porfJon thoroot. Inc/udmg In oach C /ISO fI',' 'li1fTlf' 01 fht' ffUliJf!f', ,'f '" ,I/I..l1t.. ,j ",'''c''pr,,'"
<br />of tho space occuplea by such ronant or occupant. rho ranlal payable lOf SUCf1 ..,HlI f' <In,, "III " ,,(fUll ,nrl ',"","", . ,I", J ,h 'I "fII.".I.. .\"rt'
<br />respocr fa such leases and 'enaneles as BenefICIary may fOasonnbly rl)Quo~r
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