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200707656 3. Taxes. Trustor shall pay each installment of all general real estate taxes and special assessments of every kind, now or hereafter levied against the Trust Estate before the same become delinquent, without notice or demand, and shall, before delinquent date, provide Beneficiary with evidence of the payment of same. 4. Insurance. Trustor shall maintain fire and extended coverage insurance insuring the improvements and buildings, if any, constituting part of the Trust Estate for an amount no less than the amount of the unpaid principal balance of the Note. Such insurance policy shall contain a standard mortgage clause in favor of the Beneficiary. In case of loss under such policy, the Beneficiary is authorized to adjust, collect and compromise, all claims thereunder and shall apply all or part of the insurance proceeds in the following order, as long as the Trustor is not in default: (a) first, in payment of the repair or restoration of the property; (b) second to any indebtedness secured hereby and in such order as Beneficiary may determine; (c) third, for any other purpose or object satisfactory to Beneficiary without affecting the lien of this Trust Deed for the full amount secured hereby before such payment occurred. If a default has been declared, Beneficiary has the option to apply said payment as it sees fit. Any application of proceeds to indebtedness shall not extend or postpone the due date of any payment under the Note, or cure any default thereunder or hereunder. Any policy shall provide that such policy may not be canceled or modified except upon thirty (30) days prior written notice to Beneficiary. 5. Inspections. Beneficiary, or their agents, representatives or workmen, are authorized to enter the Trust Estate, with reasonable advance notice to the Trustor, for the purpose of inspecting the same and for the purpose performing any of the acts they are authorized to perform under the terms of this Deed of Trust. 6. Protection of Security. If Trustor fails to perform the covenants and agreements contained herein, Beneficiary may do whatever is reasonably necessary to protect the value of the Trust Estate. Any amount disbursed by the Beneficiary under this paragraph shall become an additional debt of the Trustor secured by this Deed of Trust from the date of the disbursement. 7. Eminent Domain. The proceeds of any condemnation award are hereby assigned and shall be paid to the Beneficiary and shall be applied to the sums secured by this Deed of Trust, whether or not then due, with any excess paid to the Trustor. Condemnation under this Deed of Trust shall include any damage or taking by any governmental authority and any transfer by private sale in lieu thereof. 8. Events of Default. Any of the following events shall be deemed an event of default hereunder. (a) The failure of Trustor to pay any installment of principal or interest when due according to the terms of the Note or renewal, modification or extension thereof, or any other sum secured hereby when due; 3