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F 87-101147
<br />4- Insurance. To keep the Property insured against damage by fire, hazards included within
<br />the term "extended coverage", and such other hazards as Lender may require, in amounts and with
<br />companies acceptable to the lender, and with loss payable to the Lender. In case of loss under
<br />such policies, the Lender is authorized to adjust, collect and compromise, all claims thereunder
<br />and shall have the option of applying all or part of the insurance proceeds (i) to any
<br />indebtedness secured hereby and in such order as Lender may determine, (ii) to the Borrower to be
<br />used for the repair or restoration of the Property or (iii) for any other purpose or object
<br />satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount
<br />secured hereby before such payment ever took place. Any application of proceeds to indebtedness
<br />shall not extend or postpone the due date of any payments under the Note, or cure any default
<br />thereunder or hereunder.
<br />5. Mare hMFmirs and Compliance with Lars_ Borrower shall keep the Property in good
<br />condition and repair; shall promptly repair, or replace any improvment which may be damaged or
<br />destroyed; shall not commit or permit any waste or deterioration of the
<br />Property; shall not remove
<br />demolish or substantially alter any of the improvements on the property; shall not commit, suffer
<br />or permit any act to be done in or upon the Property in violation of any law, ordinance, or
<br />regulation; and shall pay and promptly discharge at Borrower's cost and expense all liens,
<br />encumbrances and charges levied, imposed or assessed againnst the Property or an
<br />Y part thereof.
<br />6- Saiaemt Domain. tender is hereby assigned all compensation, awards, damages and other
<br />payments or relief (hereinafter "Proceeds ") in connection with condemnation or other taking of the
<br />Property or part thereof, or for conveyance in lieu of condemnation. Lender shall be entity at
<br />its option to commence, appear in and prosecute in its own name any action or proceedings, and
<br />shall also be entitled to sake any compromise or settlement in connection with such taking or
<br />damage. In the event any portion of the Property is so taken or
<br />damaged, lender shall have the
<br />option, in its sole and absolute discretion, to apply all such Proceeds, after deducting therefrom
<br />all costs and expenses incurred by it in connection with such Proceeds, upon any indebtedness
<br />secured hereby and in such order as tender may determine, or to apply all such Proceeds, after
<br />deducting therefrom all costs and expenses incurred by it in connection with such Proceeds, upon
<br />any indebtedness secured hereby and in such order as Leader may determ ne, or to apply all such
<br />Proceeds, after such deductions, to the restoration of the Property upon such conditions as Lender
<br />say determine. Any application of Proceeds to indebtedness shall not extend or postpone the due
<br />date of any payments wrier the Note, or cure any default thereunder or he -
<br />reunder.
<br />7. Awfaxmmoce by Leader. In the event of Borrower's failure to perform any of the
<br />covenants herein or make any payments required hereby, or if any act is taken or legal proceeding
<br />commenced with materially affects Lender's interest in the Property, Lender may in its own
<br />discretion, but without obligation to do so, and without notice to or demand upon Borrower and
<br />without releasing Borrower from any obligation, do any act which the Borrower has agreed but fails
<br />to do and may also do any other act it deems necessary to protect the security hereof. Borrower
<br />shall, ineeediately upon demand therefor by lender, pay to herder all costs and expenses incurred
<br />and summa expended by lender in connection with the exercise by Lender of the foregoing rights,
<br />together with interest thereon at the rate provided in the Note, which shall be added to the
<br />indebtedness secured hereby.- lender shall not incur any personal liability because of anything it
<br />may do or omit to do hereunder.
<br />8. hhveets of Wault. The following shall constitute an event of default under this Deed of
<br />Trust:
<br />(a) Pailure to pay any installment of principal or interest or any other sum
<br />secured hereby when due, or failure to pay when due any or indebtedness of Borrower
<br />to Lender;
<br />(b) A breach of or default under any provision contained in the Note, this Deed of
<br />Trust, any document which secures the Note, and any other encumbrance upon the Property;
<br />c) A writ of execution or attachment or any similar process shall be entered
<br />against Borrower which shall become a lien on the Property or any portion thereof or
<br />(d) There shall be filed by or against Borrower an action under any present or
<br />future federal, state or other statute, law or regulation relating to bankruptcy,
<br />insolvency or other relief for debtors; or there shall be appointed any trustee,
<br />receiver or liquidator of Borrower or of any part of the Property, or the rents, issues
<br />or profits thereof, or Borrower shall make any general assignment for the benefit of
<br />creditors;
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