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*1REC RDEIR7— 10 4 4 61 ep7— " e
<br />premiums, ground rents, and alf oth® is vet levied upon or assessed, placed or made against the Trust
<br />Property. Trustor further agrees, upon written request by Beneficiary, to promptly deliver to Beneficiary all receipts for the payment of
<br />such charges. Truster likewise agrees to pay all taxes, assessments and other charges levied upon or assessed, placed or made
<br />agairist. or measured by, this Deed of Trust or the recordation hereof.
<br />5. Application of Payments. All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor
<br />may be applied by Beneficiary to the payment of the Indebtedness or to any such other debt, liability 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 shelf be deentied applied first to the payment of any debt, liability or obligation other than the Note,
<br />b. Chiargies. Lions. Trustor will keep the Trust Property free from all liens and encumbrances which in any way may, in the judgment of
<br />Beneficiary. have priority over, or impair the security of, this Deed of Trust but Truslor need no discharge any such lien so long as
<br />Trustor shelf agree, in writing, to pay the obligation secured by such lien in a manner acceptable to Beneficiary and shall in good faith
<br />conitest such ken by appropriate legal proceedings effective to prevent the enforcement of the lien and the loss of any interest in or
<br />part of Ire Trust Property.
<br />7. Hazard tins e. Trustor shall keep the huildings 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 form "extended coverage" and
<br />such other hazards, casuafties and contingencies as may be required by Beneficiary, in such amounts and for such periods as may be
<br />required by Seneficiary. The policy of insurance shaft be in form acceptable to Beneficiary, provide that the same may not be
<br />cancefied or nx~ without fifteen (15) days prior written notice to Beneficiary, and shall have loss payable provisions in favor of and
<br />in form acceptable to Beneficiary. AN premiums on insurance policies shall be paid in the manner provided under paragraph 4 hereof
<br />a, if not paid in such mariner, by Trustor making payment at least fifteen (15) days prior to the due date, directly to the insurance
<br />carrier. Beneficiary shaft 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 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 mss, Trustor sha# give prompt notice by mail to the insurance 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 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, 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 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 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 ; or said insurance proceeds, or any portion thereof, may be
<br />released to Truslor. 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 called for therein, or change the amount of such installments. It the
<br />Trust Property is acquired by Beneficiary pursuant to the exercise of the power of sale or other foreclosure, all right, title and interest of
<br />Truster 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 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 />Me Trust Property in good repair and condition and 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 prior written consent o.
<br />Beneficiary, wit) not do any act or thing which would unduly impair or depreciate the value of the Trust Property and will not abandon
<br />the Trost Property. Trustor will not remove any fixtures constituting 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 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 of Trust is on a unit in a condominium or a planned unit development, Trustor shall
<br />perform all of Trustor's obligations under the declarations or covenants creating or governing the condominium or the planned unit
<br />development, the bylaws and tegulatio ns of the condominium or planned unit development, and the constituent documents.
<br />9. inspection. Beneficiary or its agents may, at all reasonable rimes, 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 or to any person in possession if it makes or
<br />falls 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 if any action
<br />or proceeding is commenced which does or may adversely affect the Trust Property or the interest of Trustor or Beneficiary therein or
<br />the titre of Trustor thereto, then Beneficiary, at its option, may perform such convernants and agreements, make such appearances,
<br />defend against and investigate such action or proceeding and take such other action as Beneficiary deems necessary to protect its
<br />interest including, but not limmited to, disbursement of reasonable attorney fees and entry upon the Trust Property to make repairs. Any
<br />amounts disbursed by Beneficiary pursuant to this paragraph 10, with interest thereon, shall constitute indebtedness of Trustor
<br />secured by this Deed of Trust. Unless Trustor and Beneficiary 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 from the date of disbursement at the default rate,
<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 />' iary to incur any expense or take any action: hereunder. 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 all covenants and agreements to be
<br />performed by Trustor as herein provided. Beneficiary shall, at its option, be subrogated to any encumbrance, lien, claim or demand
<br />and to aft rights and securities for the payment thereof paid or discharged by Beneficiary under the provisions hereof and any such
<br />subrogation lights shall be additional and cumulative security for this Deed of Trust.
<br />11. Condemnal±ort. The proceeds of any award or claim for damages, direct or consequenfW, in connection with any condemnation or
<br />other taking of the Trust Property, or any part thereof, or for conveyance in lieu of or in anticipation of condemnation, are hereby
<br />assigned to and shalt be paid to Beneficiary. Trustor will file and prosecute, in good faith 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 if fail to do so, Trustor irrevocably
<br />authorizes and empowers Beneficiary, in the name of Trusty or otherwise, to file, prosecute, settle or compromise any such claim and
<br />to 0049cf, recof for and retain the proceeds. If the Trust Property ii abandoned by Trustor, or, after notice by Beneficiary to Trustor
<br />that doe condemnor offers to make an award or settle a claim for damages, Trustor fails to respond to Beneficiary within thirty (30) days
<br />after the date such notice is matted. Beneficiary is authorized to collect and apply the proceeds in the manner indicated herein. The
<br />proceeds of any award or claim may, alter 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 to Trustor, applied to
<br />restoration of Trust Property, of applied to the payment of the indebtedness. Unless Beneficiary and Trustor otherwise agree in writing,
<br />any such AppliCafton of proceeds to Indebtedness shall not extend or postpone the due date of the Note or the payment of any
<br />installments c~ for thereunder.
<br />12. Tnisfoir Not Released. Extension of the time for payment or modification of any amortization of the Indebtedness granted by Beneficiary
<br />to any suc m interest of Trustor shelf Hurt operate to release, in any manner, the liability of Trustor and Trustor's successors in
<br />shaft for be required to commence proceedings against such successor or refuse to extend time for payment or
<br />otherwise moody amortization of the Indebtedness by reason of any demand made by Trustor and Trustor's successors
<br />in
<br />L 11 Firoaticial Wormation. Upon request of Soneficiary, Trusty will provide to Beneficiary, within ninety (90) days of the close of each fiscal
<br />yew of Trustor. the consolidated balance show and statement of earnings of Frusta and any and all guarantors of the indebtedness
<br />hereby, secured t any, and will provide and deliver to Beneficiary such other financial information and in such manner as Benefirirtry
<br />may reasonably request from tune to time.
<br />14.. Foriiinctal Covenants In addition to any other financial covenants of Trustor made in any other agreement. instrument or doc:urnent,
<br />Towwor ~ Comply with and Shelf cause any and all guarantors of I" Indebtedness secured hereby to cornoy with, chi be oft
<br />c [9 with, ft following horosw�tal covenants (This paragraph shelf not apply it covenants anti requnernents at €? riot It l
<br />lorm herein )
<br />15 Schedule fif Losses WWwj ten (10) days s,',W demand. Truilm shaft fitmosh to rot by Irish Sa n?nq
<br />kirWaRlOOMM at rte TnrW r . of any rx!rEm1.i ihameorl, infAJ(;ing en each Case, thus nine of thN to her roc -;r 'r �tt'sr �rt >frc>.r,
<br />rag fie stye (xc h. y wich loniud Cx w! cupwrl, rare +aural payat)to tnr uric'! s'ttare. and ;runt. rift ,tnii ,'ini i urw rs kv.-P!
<br />�# 1Gr �s<.Pa4 Lierhet�aary rx:sy reasfiraaf�ly ta3clue,xl
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