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8% insurance premiums, ground rents, and a or charges whatsoever levied upon or assessed, ,placed or made against eh® Trust Property. Truster further agrees, upon written request by Beneficiary, to promptly deliver to Baneficiary all receipts for the payment of such charges. Trustor likewise agrees to pay all taxes, assessments and other charges levied upon or assessed, placed or made against, or measured by, this Dead of Trust or the recordation hereof. b. Application of Payments. AN payments received by Beneficiary as to any dab(, liability or obligation owed to Beneficiary by Truster may be appNed by INenefciary to the payment of the Indebtedness or to any such other debt, liability or obligation, in any order or manner of app#oatksa which Beneficiary, in its absolute discretion, deems appropriate, Unless otherwise elected by Beneficiary, any such payment shelf be deemed applied first to the payment of any debt, liability or obligation other than the Nola. 8. Charges, t,ierts. Trusts will keep the Trust Property free from aft fiens and encumbrances which in any way may, in the judgment of Beneficiary, have priority over, or impair the security of, this Dead of Trust but Truster need nor discharge any such lien so long as Trustor shy agree, in willing, to pay the obligation secured by such lien in a manner acceptable to Beneficiary and shall in good faith contest such ken by appropriate legal proceedings effective to prevent the enforcement of the lion and the loss of any interest in or part of Ow Trust Property. 7. Hazard Insurance, Truster shall keep the buildings and other improvements now existing or hereafter erected on the Trust Property insured by insurance carders satisfactory to Beneficiary against loss by fire, hazards included in the term "extended coverage" and such otter hazards, casualties and contingencies as may be required by Beneficiary, in such amounts and for such periods as may he required by Beneficiary. The policy of insurance shall be in form acceptable to Beneficiary, provide that the same may not be cancelled or modified without Won (16) days prior written notice to Beneficiary, and shall have loss payable provisions in favor of and in form acceptable to Beneficiary. All premiums on insurance policies shall be paid in the manner provided under paragraph 4 hereof or, if not paid in such manner, by Trustor making payment at least fifteen (15) days prior to the due dale, directly to the Insurance carrier. Beneficiary shall have the right to hold the policies and renewals thereof and Truster shall promptly furnish to Beneficiary all renewal notices and alt paid premium receipts received by it. in no event shall Beneficiary or Trustee be held responsible for failure to pay insurance premiums or for any loss or damage arising out of a detect in any policy or arising out of any failure of any insurance company to pay for any loss or damage insured against or for failure by Truster to effect the insurance required hereunder. In the event of loss, Truster shall give prompt notice by mail to the insurance carrier and Beneficiary. Beneficiary may make proof of loss it not made promptly or in proper form by Trustor. All policies of insurance and any and all refunds of unearned premiums are hereby assigned to Beneficiary as additional security for the payment of the Indebtedness. In the event of Beneficiary's exercise of the power 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 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 Beneficiary, be applied by Beneficiary upon the Indebtedness, or any part thereof, and in such order and amount as Beneficiary may determine; or said insurance proceeds, at the option of Beneficiary, may either be used in replacing or restoring the Trust Property partially or totally destroyed to a condition satisfactory to Beneficiary; or said insurance proceeds, or any portion thereof, may be released to Trustor. Unless Beneficiary and Trustor otherwise agree in writing, any such application of insurance proceeds shall not extend or postpone the due date of the Note, or any installments called for therein, or change the amount of such installments. N the Trust Property is acquired by Beneficiary pursuant to the exercise of the power of sale or other foreclosure, all right, title and interest of 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 to Beneficiary and shall be applied first to the costs and expenses, including attorney fees, incurred in collecting such proceeds, then in the manner and in the order provided herein. 8. Preservation and Maintenance of Trust Property. Trustor will keep the buildings and other improvements now or hereafter erected on the Trust Property in good repair and condition and will not commit or permit waste, will not after the design or structural character> constituting any building now or hereafter erected on and constituting the Trust Property without the prior written consent of Beneficiary, will not do any act or thing which would unduly impair or depreciate the value of the Trust Property and will not abandon the Trust Property. Truster will not remove any fixtures constituting the Trust Property unless the same are immediately replaced with 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 all present and future ordinances, regulations and requirements of any governmental body which are applicable to the Trust Property 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 perform all of Truster's obligations under the declarations or covenants creating or governing the condominium or the planned unit development, the bylaws and regulations of the condominium or planned unit development, and the constituent documents. 9. Inspection. Beneficiary or its agents may, at all reasonable times, enter upon the Trust Property for the purpose of inspection. 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 fails to make any such inspection. 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 or proceeding is commenced which does or may adversely affect the Trust Property or the interest of Trustor or Beneficiary therein or the title of Trustor thereto, then Beneficiary, at its option, may perform such convenants and agreements, make such appearances, defend against and investigate such action or proceeding and take such other action as Beneficiary deems necessary to protect its ; interest including, but riot limited to, disbursement of reasonable attorney fees and entry upon the Trust Property to make repairs. Any s amounts disbursed by Beneficiary pursuant to this paragraph 10, with interest thereon, shall constitute Indebtedness of Truster secured by this Deed of Trust. Unless Trustor and Beneficiary agree to other terms of payment, 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 default rate, N any, set forth in the Note, or otherwise at the highest rate permitted by law. Nothing contained in this paragraph shall require Beneficiary to incur any expense or take any action hereunder. Trustor irrevocably authorizes and empowers Beneficiary to enter upon the Trust Property as Truster's agent and, in Truster's name or otherwise to perform any and all covenants and agreements to be performed by Trustor as herein provided. Beneficiary shall, at its option, be subrogatod to any encumbrance, lien, claim or demand and to all rights and securities for the payment thereof paid or discharged by Beneficiary under the provisions hereof and any such subrogation rights shall be additional and cumulative security for this Deed of Trust. 11. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Trust Property, or any part thereof, or for conveyance In lieu of or in anticipation of condemnation, are hereby assigned to and shall be paid to Beneficiary. Trustor will file and prosecute, in good faith and with due diligence, its claim for any such award or payment, and will cause the same to be collected and paid to Beneficiary, and, should it fail to do so, Trustor irrevocably authorzes and empowers Beneficiary, in the name of Trustor or otherwise, to fife, prosecute, settle or compromise any such claim and to collect, receipt for and retain the proceeds. If the Trust Property is abandoned by Trustor, or, after notice by Beneficiary to Trustor that the condemnor offers to make an award or settle a claim for damages, Trustor fails to respond to Beneficiary within thirty (30) days after the deft such notice is mailed, Beneficiary is authorized to collect and apply the proceeds in the manner indicated herein. The proceeds of any award or claim may, alter deducting air reasonable costs and expenses, including attorney fees, which may have been incurred by Beneficiary in the collection thereof, at the sole discretion of Beneficiary, be released to Trustor, applied to restoration of Trust Property, or applied to the payment of the Indebtedness. Unless Beneficiary and Trustor otherwise agree in writing, any such application of proceeds to Indebtedness shall not extend or postpone the due date of the Note or the payment of any installments called for thereunder. 12. Trustor Not Released. Extension of the time for payment or modification of any amortization of the Indebtedness granted by Beneficiary to any successor in interest of Trustor shaft not operate to release, in any manner, the liability of Trustor and Trustor's successors in t. Beneficiary shall not be required to commence proceedings against such successor or refuse to extend time for payment or Merwise modify amortization of the Indebtedness by reason of any demand made by Trustor and Truster's successors in interest. L 13. Financial Inkmiallon. Upon request of Beneficiary, Trustor will provide to Beneficiary, within ninety (90) days of the close of each fiscal yew of Trustor, ttt consolidated balance sheet and statement of earnings of Truster and any and all guarantors of the Indebtedness ured hereby, it any, and will provide and deliver to Beneficiary such other financial information and in such manner as Beneficiary may reasonably request from time to time, 14, Firrancial ants. in addition to any other financial covenants of Trustor made in any other agreement instrument or document, Trusfw shots comply with and shaft cause any and all guarantors of the Indebtedness secured hereby to comply with, or be irr Compliance with, the following financial covenants; (This paragraph shall not apply if covenants and requirements are riot set • ltkr.) 18. Schedule of /asses. WiNtin We (10) days after demand, Trustor she# furnish to Bonefietary a schedule, cerfrhed to b y Tinton, seritnq form a# 10s,503 of the 'fnasl Property, or any portion thereof, including m each ease, file train@ of the t®nants or occupants, a descil door of ift sparse mcupted by such tenant or occupant, the rental payable for such spaGn, tend .stich ofhet rofoommon and drxxunornts with IONWt to 5u4h 104801 and tananctits Bene#ataty as may reasonably request. �._..