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87-- 105264
<br />r the Indebtedness secured by this Deed of Trust. If the amount of
<br />thol;Tunds held by Beneficiary, together with the future monthly
<br />.itIS411ments of Funds payable prior to the due dates of taxes,
<br />assessments, insurance premiums and ground rents, shall exceed the
<br />amount required to pay said taxes, assessments, insurance premiums
<br />and ground rents as they fall clue, such excess shall be, at
<br />Tr•ustor's option, either promptly repaid to Trustor or credited to
<br />Trustor against future monthly installments of Funds. If. the
<br />amount of the Funds held by Beneficiary sha.11 not be sufficient to
<br />pay taxes, assessments, insurance premiums and ground rents as they
<br />fall due, Trustor shall pay to Beneficiary any amount necessary to
<br />make up the deficiency 'within thirty clays from the. date notice is
<br />mailed by Beneficiary to Trustor requesting payment thereof. Upon
<br />payment in full of all Indebtedness, Beneficiary shall promptly
<br />refund to Trustor any Funds held By Beneficiary. If the Trust
<br />Property is sold under the power of sale or the Trust Property is
<br />otherwise acquired by Beneficiary, Beneficiary shall apply,
<br />immediately prior to the saln of the 'Trust Property or its
<br />acquisition by Beneficiary, any Funds held by Beneficiary,
<br />Beneficiary shall apply, immodintel.y prior to the sale of the Trust
<br />nrn:lerty or its acquisition by Beneficiary, any Funds held by
<br />Beneficiary at the time of application as a credit against the
<br />Indebtedness. If Beneficiary executes a written waiver of
<br />Tru t_oor's obligations and --r this paragraph 4, Trustor covenants and
<br />agrees to pay, before the same become delinquent, all taxes,
<br />assessments, insurance premiums, ground rents, and all other
<br />charges whatsoever levied upon or assessed, placed or made against
<br />thr Trust Property. Trustor further agrees, upon written request
<br />by Beneficiary, to promptly deliver to Beneficiary all receipts for
<br />the payment of such charges. Trustor likewise agrees to pay all
<br />tars, assessments and other charges levied upon or assessed,
<br />placed or made against, or measured by, this Deed of Trust or the
<br />rE:c(�rdati.on hereof.
<br />5. Application of Payments. All payments received by
<br />done >.ficiary as to any debt, liability or obligation owed to
<br />Ivi,�.ficiary by Trustor may be applied by Beneficiary to the payment
<br />cf the Indebtedness or to any such other debt, liability or
<br />ol�l.iy:,tion, in any order or manner of application which
<br />P_cieficiary, in its absolute discretion, deems appropriate. Unless
<br />o`.hcrwise elected by Beneficiary, any such payment shall be deemed
<br />ai- ;pli.ed first to the payment of any debt, liability or obligation
<br />other than the Note.
<br />6. Charges; Liens. Trustor will keep the Trust Property free
<br />fy -m all liens and encumbrances which in any way may, in the
<br />udgment of Beneficiary, have priority over, or impair the security
<br />n�, this Deed of Trust but Truster need not discharge any such lien
<br />so tonq as Truai-i,r shall agree, in writing, to pay the obligation
<br />^aced by such lien in a manner acceptable to Beneficiary and
<br />:;hall in good faith contest such lien by appropriate legal
<br />t,toc,:edings effective to prevent the enforcement of the lien and
<br />tte_ loss of any interest in part of the Trust Property.
<br />. Hazard Insurance. Trustor shall. keep the buildings and
<br />cat tar imL11-ovemenf:s now e:cisting or herraf.ter erected on the Trust
<br />b�•r�rty insured by insurance carriers satisfactory to Beneficiary
<br />iotai.rlst loss by fire, hazards included in the term "extended
<br />- . :„uf:r,age° and such other hazards, casualties and contingencies as
<br />taay'„ be required by Beneficiary, in such amounts and for such
<br />.iocis as may be required by Beneficiary. "Lie policy of insurance
<br />hp in form acceptable to Ieneficiary, provided that the same
<br />❑;;,y net be cancelled or modif tied without Li fteen (15) days prior
<br />notice to Beneficiary, , shall have loss, payable
<br />1•I q•✓l.sions in River of and in form acceptable to beneficiary. All
<br />;.i (2m.i.ums on insurance policies ;;hall be paid in the manner provided
<br />p;,,r.agraph 4 hereof or, if tlut_• paid in t;uch manner, by Trustor
<br />m•7k'i.ng payment cat least. fifteen (15) clays p; inr to thc dues date,
<br />rill' ?c;t1V to the' insurance carrier. 13nnef:i.cia y shall. have the
<br />it(ht_ to li<.11d the policies and ranewal.,- th,:t. . of and Tr.0 ,tot rha.11
<br />1 ;?ApL.ly turnish to Benofic:i.ary all rcnowal notices clad ill I p.,id
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