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100600
<br />Insurance premiums, ground rents. and all other charge=
<br />Property. Truslw Iurther
<br />agrees, upon written request by Bener � pry,
<br />such charges. Truster likewise agrees to
<br />pay all taxes, assess( _, s snc OthiPr Chalues iewecl r, ,
<br />against, or measured by, this Deed of Trust or the recordation .hereof a Sr .sec
<br />5. Appkcabon of Payments. Alf payments received by Beneficiary as to any debt, liability or obligation owed to Benehc ;ary by Trustor
<br />may be applied by Beneficiary to the payment of the Indebtedness or to any such other debt. liability
<br />or obligation. in any order or
<br />manner of application which Beneficiary, in its absolute discretion, deems appropriate. Unless otherwise elected by Beneficiary, any
<br />such payment shall be deemed applied first to the of debt,
<br />payment any liability or obli_gatlon other than the Note.
<br />6. Charges; Lens. Trustor will keep the Trust Property free from all liens
<br />and encumbrances which in any way may, in the ludgment of
<br />Beneficiary, have priority over, or impair the security of, this Deed of Trust but Trustor need not discharge any lien
<br />such so long as
<br />Trusts shall agree, in writing, to pay the obligation secured by such lien in a manner acceptable to Beneficiary and shall in good faith
<br />contest such lien by appropriate legal proceedings effective
<br />to prevent the enforcement of the lien and the loss of any interest in or
<br />part of the Trust Property.
<br />7. Hazard Insurance. 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 fire, hazards included in the term "extended '•
<br />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
<br />shall be in form acceptable to Beneficiary, provide that the same may not be
<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 acceptable 10 Beneficiary. All premiums on insurance
<br />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 (i5) days to the
<br />prior 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 all
<br />renewal notices and all paid premium receipts
<br />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 of any insurance
<br />company to pay for any loss or damage insured against or for failure by Trustor to effect the insurance required hereunder. In the event
<br />of loss, Trustor shall give prompt notice by mail to the insurance
<br />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
<br />of unearned premiums are 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,
<br />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
<br />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
<br />proceeds, at the option of Beneficiary, may either be used in replacing or restoring the Trust Property
<br />partially or totally destroyed to a condition satisfactory to Beneficiary;
<br />or said insurance 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
<br />called for 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,
<br />all right, title and interest of
<br />Trustor in and to any insurance proceeds payable as a result of damage to the Trust Property prior to the sale or acquisition shall pass
<br />to Beneficiary and shall be applied first to the costs
<br />and expenses, including attorney 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 will keep the buildings and other improvements now or hereafter erected on
<br />the Trust Property in good repair and condition and
<br />will not commit or permit waste. will not alter the design or structural character
<br />constituting any building now or hereafter erected on and constituting the Trust Property without the
<br />prior written consent of
<br />Beneficiary, will not do any act or thing which would unduly impair or depreciate the value of the Trust Property and will not abandon
<br />the Trust Property. Trustor will not remove any fixtures constituting
<br />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
<br />and utility. Trustor will comply with
<br />all present and future ordinances, regulations and requirements of any governmental body which are applicable to the Trust Property
<br />and to the occupancy and use thereof. if this Deed Trust
<br />of is on a unit in a condominium or a planned unit development, Trustor shall
<br />perform all of Trustor's obligations under the declarations
<br />or covenants creating or governing the condominium or the planned unit
<br />development, the bylaws and regulations of the condominium or planned unit development, and the
<br />constituent documents.
<br />9. Inspection. Beneficiary or its agents may, at all reasonable times,
<br />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 to
<br />or any person in possession if it makes or
<br />fails to make any such inspection.
<br />10. Protection of Security. If Trustor fails to perform any of the covenants and agreements contained in this Deed of Trust, or it any action
<br />or proceeding is commenced which des or may
<br />adversely affect the Trust Property or the interest of Trustor or Beneficiary therein or
<br />the title of Trustor thereto, then Beneficiary, at its option,
<br />may perform such convenants and agreements, make such appearances.
<br />defend against and investigate such action or proceeding and take such other action as Beneficiary
<br />deems necessary to protect its
<br />interest including, but not limited to, disbursement of reasonable attorney fees and entry upon the Trust Property to make repairs. Any
<br />amounts disbursed by Beneficiary pursuant to this
<br />paragraph 10, with interest thereon, shall constitute indebtedness of Trustor
<br />secured by this Deed of Trust. Unless Trustor and Beneficiary
<br />agree to other terms of payment, such amounts shall be payable upon
<br />notice from Beneficiary to Trustor requesting payment thereof, and shall bear interest hom the date
<br />of disbursement at the default roe,
<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 h
<br />,-reunder. 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
<br />all covenants and agreements to be
<br />Performed by Trustor as herein provided. Beneficiary shall, at its option, be subrogatied to any encumbrance, lien,
<br />claim or demand
<br />and to alf rights and securities for the payment thereof paid or discharged by Beneficiary under the
<br />provisions hereof and any such
<br />subrogation rights shall be additional and cumulative security for this Deed of Trust.
<br />11. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or
<br />other taking of the Trust Property, or any thereof, for
<br />part or conveyance in lieu of or in anticipation of condemnation, are hereby
<br />assigned to and shall be paid to Beneficiary. Trustor will file and prosecute, in faith
<br />good and with due diligence, its claim for any such
<br />award or payment, and will cause the same to be collected and paid to Beneficiary, and, should it fail to do
<br />so. Trustor irrevocably
<br />authorizes and empowers Beneficiary, in the name of Trustor or otherwise, to file, prosecute, settle or compromise any such claim and
<br />to collect, receipt for and retain the If the Trust
<br />proceeds. Property 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
<br />to Beneficiary within thirty (30) days
<br />after the date such notice is mailed, Beneficiary is authorized to collect and apply the proceeds in the manner indicated herein. The
<br />proceeds of any award or claim
<br />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
<br />restoration of Trust Pro to Trustor, applied to
<br />the Y application proceeds o Indebtedness hall otherwise
<br />an such a kcation of agree writing,
<br />lthe
<br />_._ .
<br />not extend or postpone due date of the Note or the
<br />installments called or thereunder. payment rty
<br />12. Trustor Not Released. Extension of the time for payment or modification of any amortization of the indebtedness granted by Beneficiary
<br />to any successor in interest of Trustor shall
<br />not operate to release, in any manner, the liability of Trustor and Trustor's successors m
<br />interest. Beneficiary shall not be requited to commence proceedings against such successor or refuse to
<br />otherwise
<br />extend time or payment or
<br />modify amortization of the indebtedness by reason of any demand made by Trustor and ,se tot's successors
<br />in interest
<br />L
<br />Financial Information. Upon request of Beneficiary, Trustor will provide to Beneficiary, within ninety (9o) days of the close of a °:rctr titic,N
<br />year of Truster, the consolidated balance sheet
<br />arid statement of earnings of Trustor and any and all guarantors of the ;ndehrc•dness
<br />secured hereby, if any, and will provide and deliver to Beneficiary such other financial information and ur h
<br />may reasonabty
<br />rC
<br />request from time to time suc manner as Benehcra,y
<br />cn
<br />14. Financial Covenants. In addition to any other financial covenants of Trustor made in any other agreemen!. lostmment w dociunenr.
<br />Trustor shall comply with and shall cause any and all guarantors of the /rdebtedness
<br />tit
<br />srrru ed t,areby ro r:ampry waft ,,• re ,n
<br />compliance with, the following financial covenants (This paragraph .shaft not apply d cnvenanr•; ;iwr requ,rerrrernts
<br />forth heroin )
<br />:,,, n;,; >:e!
<br />IS Schedule of i eases Within ten i In) days after demand, i. irsror shall lurn,sh h, Nr nelrra a1 a ,.h q• r = .tr, ,, !; ; �
<br />Ruth all fi asev fit the trust i reperly, u my "Wron the—ot rvciuding
<br />r act, c as . the "a-e
<br />'it tit£'• 4pa cr? ncf.lipled by ar h rP Ilan! "it fK .- Calpanf Ir a, r rir toe
<br />1! p'dyill3ll '( f ti; i!'( -J"" '1 •� I
<br />•n such Fl Ci_•S tp
<br />.i and Ira( Ji'lt.•.. J,, rl,.n Nftt r;iry ,7 }ay .. • . -r r .n ..
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