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87- 101600 may from time to time request for the protection by insurance of the interests of the respective parties. All insurance Policies maintained pursuant to this Deed of Trust shall name Trustor and Beneficiary as insureds, as their respective interests may appear, and provide that there shall be no cancellation or modification unless at least fifteen (15) days prior written notification thereof is actually delivered to Trustee and Beneficiary. In the event any policy hereunder is not renewed on or before fifteen (15) days prior to its expiration date, Trustee or Beneficiary may procure such insurance in accordance with the provisions of Paragraph 7 hereof. Trustor shall deliver to Beneficiary the original Policies of insurance and renewals thereof or memo copies of such policies and renewals thereof. Failure to furnish such insurance by Trustor, or renewals as required hereunder shall, at the option of Beneficiary, constitute a default. 6. Taxes, Assessments, and Charges. Trustor shall pay all taxes, assessments and other charges, including, without limitation, fines and impositions attributable to the Property, and leasehold payments or ground rents, if any, before the same become delinquent. Trustor shall promptly furnish to Beneficiary all notices of amounts due under this paragraph, and in the event Trustor shall make payment directly, Trustor shall promptly furnish to Beneficiary receipts evidencing such payments. Trustor shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust without regard to any law that may be enacted imposing payment of the whole or any part thereof upon the Beneficiary. 7. Additional Liens and Protection of Beneficiary's Security. Trustor shall make ail payments of interest and principal and payments of any other charges, fees and expenses contracted to be paid to any existing lienholders or prior beneficiaries under any prior deed of trust or mortgage before the date they are delinquent and promptly pay and discharge any and all other liens, claims or charges which may jeopardize the security granted herein. If Trustor fails to make any such payment or fails to perform any of the covenants and agreements contained in this Deed of Trust, or in any prior mortgage or deed of trust, or if any action or proceeding is commenced which materially affects Beneficiary's interest in the Property, including, but not limited to, eminent domain proceedings, or proceedings involving a decedent, or if Trustor fails to pay Trustor's debts generally as they become due, then Beneficiary, at Beneficiary's option and without notice to or demand upon Trustor and without releasing Trustor from any obligation hereunder, may make such appearances, disburse such sums, and take such action as is necessary to protect Beneficiary's interest, including, but not lim_ted to, disoursement of reasonable attorney's fees, payment, purchase, contest or compromise of any encumbrance, charge or lien, and entry upon the Property to make repairs. In the event that Trustor shall fail to procure insurance or to pay taxes, assessments, or any other charges or to make any payments to existing prior lienholders or beneficiaries, Beneficiary may procure such insurance and make such payment. Any amounts disbursed by Beneficiary pursuant to this Paragraph 7 shall become additio_nAl indebtedness of Trustor secured by this Deed of Trust. Such amounts shall be payable upon notice from Beneficiary to Trustor requesting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applicable law. Nothing contained in this Paragraph 7 shall. require Beneficiary to incur any expense or take any action hereunder. -3- ' a I