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Insurance premiums, ground rents, and all other charges whatsoever levIed upon or assossed, Plac!~;;:d1SJ/~ A:Jl.ra., Property. Trostol further agrees, upon written request by Beneficiary, to promptly deliver to Beneficiary aff receipts for the payment 01 such charges. Trustor flkewlse agroes to pay a/lta)(es. assessments and other charges lavied upon or assessed, placed or made against, or measured by, this Deed 01 Trust or the recordation hereof. 5. Appticatfon of Payments. All payments received by Beneffc/ary as to any debt, lIabiffty or obligation owed to Beneficiary by Trustor may be applied by Beneficiary to the payment of the Indebtedness or to any such other debt, lIabitltv or obUgar/on, In any order or manner of application which Beneficiary, in its absolute discretion, deems appropriate. Unless otherwise elected by Beneficiary, any such payment shall be deemed applied first to the payment of any debt, liability or obflgatJon other than the Note. 6. Charges; Uens. Trustor will keep the Trust Property free from all liens and encumbrances which In any way may, In the judgment of Beneficiary, have priority over, or impair the security of, this Deed of Trust but Trustor need not discharge any such lien so long as Trustor shall agree, in writing, to pay the obligation secured by such lien In a manner acceptable to Beneficiary and shall In good faith contest such lien by appropriate legal proceedings effective to prevent the enforcement of the lien and the loss of any interest in or part of the Trust Property. 7. Hazard Insurance. Trustor shall keep the buildings and other Improvements now existing or hereafter erected on the Trust Property insured by insurance carriers setisfactory to BeneficiaT}' against loss by fire, hazards included in the tenn "extended coverage" and such other hazards, casualties and contingencies as may be required by Beneficiary, In such amounts and for such periods as may be required by Beneficiary. The policy of insurance shall be in form acceptable to Beneficiary, provide that the same may not be cancelled or modified without fifteen (15) days prior written notice to Beneficiary, and shall have loss payable provisions in favor of and in fonn acceptable to Beneficiery. All premiums on insurance policies shall be paid in the manner provided under paragraph 4 hereof or, if not paid In such manner, by Trustor making payment at/east fifteen (15) days prior to tlte due date, directly to the insurance carrier. Beneficiary shall have the right to hold the policies and renewals thereof and Trustor shall promptly furnish to Beneficiary all renewal notices and all paid premium receipts received by it. In no event shall BeneficIary or Trustee be held responsible for failure to pay insurance premiums or for any loss or damage arising out of a detect in any policy or arising out of any faiiure of any insurance company to pay for any loss or damage insured against or for failure by Trustor to effect the insurance required hereunder. In the event of loss, Trustor shall give prompt notice by mall to the insurance carrier and Beneficiary. Beneficiary may make proof of loss If not made promptly or in proper form by Trustor. All policies of insurance and any and all refunds of unearned premiums are hereby assigned to Beneficiary as additional security for the payment of the Indebtedness. In the event of Beneficiary's exercise of the power 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 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 Beneficiary, be applied by Beneficiary upon the Indebtedness, or any part thereof, and in such order and amount as Beneficiary may derermine,' or sald insurance proceeds. at the option of Beneficiary, may either be used in repiacing or restoring the Trust Property partially or totally destroyad to a condition satisfactory to Beneficiary,' or said insurance proceeds, or any portion thereof, may be released to Trustor. Unless Beneficiary and Trustor otherwise agree in writing, any such application of insurance proceeds shall not extend or postpone the due date of the Note, or any installments called for therein, or change the amount of such Installments. If the Trust Property is acquired by Beneficiary pursuant to the exercise of the power at sale or other foreclosure, all right, tiffe and interest of Trustor in and to any insurance proceeds payable as a result of damage to the Trust Propert}' ptior to the sale or acquisition shaff pass to Beneficiary and shall be applied first to the costs and expenses, including attorney fees, incurred In collecting such proceeds, then in the manner and in the order provided herein. 8. PreseNation and MaJntenan~e of Trust Property. Trustor will keep the buildings and other improvements now or hereafter erected on the Trust Property in good repair and condition and will not commit or permit waste, will not alter the design or structura' character constituting any building now or hereafter erected on and consrituting the Trust Property without the prior written consent of Beneficiary, will not do any act or thing which would unduly impair or depreciate the value of the Trust Property and will not abandon the Trust Property. Trustor wiIJ not remove any fixtures constituting the Trust Property unless the same are immediately replaced with like property subject to the lien end security interest of this Deed of Trust and of at least equal value and utility. Trustor will comply with all present and future ordinances, regulations and requirements of any go'/emmental body which are BpplicablCJ to the Trust Property and to the occupancy and use thereat. It this Deed of Trust is on a unit in a condominium or a planned unit developme-nt, Trustor shall perform ali of Trustor's obligations under the declarations or covenants creating or governing the condominium or the planned unIt development, the bylaws and regulalions of the condominium or planned unit development. and the consrituent documents. 9. Inspection. Beneficiary or its agents may, at all reasonable times, enter upon the Trust Property for the purpose of inspection. Beneficiary shall have no duty to make such inspection and shall not be liable to Trustor or to any person In possession if it makes or fails to make any such inspection. 10. Protection of Security. If Trustor fails to perform all} of the covenants and agreements contained in this Deed of Trust. or if any action or proceeding is commenced which does or may adversely affect the Trust Property or the interest of Trustor or Beneficiary therein or the tille of Trustor thereto, then Beneficiary, at its option, may perform such convenants and agreements, make such appearances, defend against and investigate such action or proceeding end take such other action as Beneficiary deems necessary to protect its interest including, but not limited to, disbursement of reasonable attorney fees and entry upon the Trust Property to make repairs. Any amounts disbursed by Beneficiary pursuant to this paragraph 10, with interest thereon, shail constilute Indebtedness of Trustor secured by this Deed of Trust. Unless Trustor and Benellcisry agree to other terms of payment, such amounts shail be payable upon notice from Beneficiary to Trustor requesting payment thereof, and shall bear Interest from the date of disbursement at the default rate, if any, set forth in the Note, or otherwise at the 'Iighest rate permitted by law. Nothing contaIned In this paragraph shafl require Beneficiary to incur any expense or take any action hereunder. Trustor irrevocably authorizes and empowers Beneficiary to enter upon the Trost Property as Trustor's agent and, in Trustor's name or otherwise to perform any and all covenants and agreements to be performed by Trustor as herein provided. Beneficiary shall, at its option, be suorogated to any encumbrance, lien, claim or demand and to BlI rights and securities for the payment thereof paid or dischargflQ by Sflneficiary under the provisions hereof and Bny such subrogation rights shall Oe aC1dfriana( and cumulative security tar this Deed 01 Trust, 11, Condemnation. The proceeds of any award or claim for damages, direct or consequential, In connection with any condemnation or other taking of the Trust Property, or any part thereof, or lor conveyance In lieu of or In anticipation of condemnation, are hereby assigned to and shall be paid to Beneficiary. Trustor wiIJ file and prosecute, in good faith and with due diJIgence, Its claim for any such award or payment, and wiIJ cause the same to be collected and paid to Beneficiary, and, should It tail to ria so, Trustor irrevocably authorizes and empowers Beneficiary, in the name of Trustor or otherwise, to file, prosecute, settle or compromise any such claim and to collect, receipt for and retain the proceeds. If the Trust Property is abandoned by Trustor, or, after notice by Beneficiary to Trustor that the condemnor offers to make an award or settle a claim for damages. Trustor fails to respond to Beneficiary within thirty (30) days after the dare such noUcB is mailed, Beneficiary is authorized to collect and apply the proceeds in lhe manner indicated herein. The proceeds of any award or claim may, after deducting aft reasonabfe costs and expenses, including attorney fees, which may have been Incurred by Beneficiary in the colJection thereof, at the sole discretion of Beneficiary, be released to Trustor, applied to restoration of Trost Property, or applied to the payment of the Indebtedness. Unless Beneficiary and Trustor otherwise agree in writing, any such application of proceeds to Indebtedness shall not extend or postpone the due date of the Note or the payment of any installments called for thereunder. 12. Trustor Not Released. Extension at the time for payment or modification of any amortization of the Indebtedness granted by Beneficiary to eny SUCCffSSor In Interest of Trustor shall not operate to release. in any manner, the liability of Trustor and Trustor's successors in interes~. Beneficiary shall not be required to commence proceedings against such successor or refuse to extend time for payment or orherwlse modify amortization of the Indebtedness by reason of any demand made by Trustor and Trustor's successors in interest. 13. Financial Inlormation. Upon request of Beneficiary, Trustor will provide to Beneticlary, within nlnely (90) days of the close of each tiscal year of Trustor, the consof/dated balance sheet and statement of earnings at Trustor and any and all guarantors 01 the Indebtedness . secured hereby, it any, and wilf provide and deliver to Beneficiary such other financial information and in such manner as Beneficiary may reasonably request from tima to time 14. Financial Covenants. If! addition to any other financial covenants at Trustor made if! any other agreement. instrument or document, Trustor shall comply WIth and shall cause any and all guarantors of the Indebtedness secured herebv to camp/V with, or be in compliance WIth, the folloWing finanCial covenant3' (ThiS paragraph shall not apply if covenanfs and reqUirements ara not sol forth herem) '5 Schedule 0' Leases WI!hm ten (fO) days ohm domimd, rrusror shalltutntsh ro BenefICiary a !ichedule, cerflflBd Itl t1>' rru.r;(or, seNmg totfh alllesses at rho rrusr Propotty. 01 any portion thateo', Includmg In oach CHse. the name of /fJe ronants Of OCCjJpi1fl'~ H ("Josef/pr/o" of rhe space occupIed by such renan! 01 occupanl. tho rental payable '01 such space. iJnd sucll IJlhm mlormt/(ll.'n 0(1(1 ducumt-.fJf,<; With respect to such leases and rort.lnClfJ5 as Bonetlclnty may roasvnablv luquosr I.