|
Policies of insurance and renewals thereof or memo copies of
<br />"
<br />such policies and renewals thereof. Failure to furnish such
<br />insurance by Trustor, or renewals as required hereunder
<br />Shall, at the option of Beneficiary, constitute a default..
<br />6. Taxes Assessments, and Charges. Trustor shall
<br />PAY all taxes, assessments and other----IuFges, including,
<br />without limitation, fines and impositions attributable to
<br />the Property, and leasehold payments or ground rents, if
<br />any, before the same become delinquent. Trustor shall
<br />promptly furnish to Beneficiary all notices of amounts due
<br />under this paragraph, and in the event Trustor shall make
<br />payment directly, Trustor shall promptly furnish to Beneficiary
<br />receipts evidencing such payments. Trustor shall pay all
<br />taxes and assessments which may be levied upon Beneficiary's
<br />interest herein or upon this Deed of Trust without regard to
<br />any law that may be enacted imposing payment of the whole or
<br />any part thereof upon the Beneficiary.
<br />7. Additional Liens and Protection of Beneficiar 's
<br />security. Trustor shall make.-a payments o interest a
<br />principal and payments of any other charges, fees and expenses
<br />contracted to be paid to any existing lienholders or prior
<br />beneficiaries under any prior deed of trust or mortgage
<br />before the date they are delinquent and promptly pay and
<br />discharge any and all other liens, claims or charges which
<br />may jeopardize the security granted herein. If Trustor
<br />fails to make any such payment or fails to perform any of
<br />the covenants and agreements contained in this Deed of
<br />Trust, or in any prior mortgage or deed of trust, or if any
<br />action or proceeding is commenced which materially affects'
<br />1
<br />:Beneficiary's interest in the Property, including, but not
<br />limited to, eminent domain proceedings, or proceedings
<br />involving
<br />a decedent, or if Trustor fails to pay Trustor s
<br />1
<br />debts generally as they become due, then Beneficiary,
<br />'
<br />Beneficiary's option and without notice to or demand upon
<br />Trustor and without releasing Trustor from any obligation`
<br />hereunder, may make such appearances, disburse such sums,
<br />and take such action as is necessary to protect Beneficiary's
<br />interest, including, but not limited to, disbursement of
<br />'
<br />reasonable attorney's fees, payment, purchase, contest or
<br />compromise of
<br />€.
<br />any encumbrance, charge or lien, and entry
<br />upon the Property to make repairs. in the event that Trustor
<br />shall fail to procure insurance or to pay taxes, assessments,
<br />or any other charges
<br />or to make any payments to existing
<br />prior iienholders or beneficiaries, Beneficiary may
<br />y
<br />".
<br />such insurance and make such a
<br />y disbursed
<br />payment. Any amounts disbursed -
<br />by Beneficiary
<br />y pursuant to this Paragraph 7 shall become
<br />additional indebtedness of Trustor secured by this Deed of
<br />Trust. Such amounts shall be payable upon notice from
<br />Beneficiary to Trustor requesting payment thereof, and shall
<br />bear interest from the date of disbursement at the rate
<br />payable from time to time on outstanding principal under the
<br />Mote unless payment of interest at such rate would be contrary
<br />,
<br />to applicable law, in which event such amounts shall bear
<br />interest at the highest rate permissible under applicable
<br />law. Nothing contained in this Paragraph 7 shall require
<br />Beneficiary to incur any expense or take any action hereunder.
<br />B. Assignment of Rents. Be_ne €iciary shall ha se the
<br />right,
<br />poweran3-aut ority wring the continuance of this
<br />u
<br />Deed of Trust to collect the rents, issues and profits of
<br />the Property and of any personal property located thereon
<br />with or without taking possession of the property affected
<br />hereby, Trustor
<br />and hereby absolutely and unconditionally
<br />assigns all such rents, issues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to the Trustor's
<br />collection and retention of such rents, issues and profits
<br />as they accrue and become payable so long as Trustor is not,
<br />$
<br />at such time, in default witi1 respect to payment of any
<br />
|