86105273 - Laserfiche WebLink

Browse

nsurance premiums. ground rents. and all other charges whatsoever levied upon or assessed, placed or made against the Trust Property. Trustor further agrees, upon written request by Beneficiary, to promptly deliver to Beneficiary 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 Deed of Trust or the recordation hereof. 3. Application of Payments. All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor may be appliez-4 by Beneficiary to the payment of the indebtedness or tc any such other debt, liability or obligation, in any order or manner of application which Beneficiary, in its absolute discretion. deems appr,priate- Unless otherwise elected by Beneficiary, any such payiner:t shall be deemed applied first to the payment of any debt, f ab lify or obligation other than the Afot& 6. Charges: Liens. Trustor will keep the Trust Property free from all liens and encumbrances which in any way may, in the judgment of - Senefictary, have priority over, or impair the security of,, this Deed of Trust but Trustor need not discharge any such lien so king as f Trustor shaft agree. in writing. to pay the obligation secu=2d by such lien in a manner acceptable to Beneficiary and shaft in good faith contest such lien by appropriate legal proceedings effective to prevent the enforcement of the lien and the kiss of any interest in or part of the Trust Property. 7. Hazard Insurance. Trustor shall keep the buildings and other improvements now existing or hereafter erected on the Trust Property insured by insurance carriers satisfactory to Beneficiary against loss by fire, hazards included in the tern= 'extended coverrage" and such other hazards. casualties and contingencies as may be required by Beneficiary, in such amounts and for such periods as may be 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 fifteen l f 5) days prior written notice to Beneficiary, and "I have foss payable provisions in favor of and in tom acceptable to Beneficiary. All premiums on insurance polenes shall be paid in the manner provided under paragraph 4 hereof or, if not pad in such manner, by Trustor making payment at least fffteen jt 5 days prior to the due date, direc€!y to the trisurarice carrier. Beneficiary shall have the right to hold the policies and renewals thereof and Trustor shall promptly fumeh to Beneficiary all renewal notices and all paid premium receipts received by <, in no event shelf Beneficiary or Trustee be hefd responsible for failure to pay insurance premiums or for any loss or damage ansmg out of a defect m 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 Trustor to effect the insurance requiredt hereurider. In tties evert of loss. Trustor shall give prompt notice by mail to the insurance cagier and Seneliciary- Beneficiary may make proof of loss if not made promptly or in proper form by Trustor. All policies d.` 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 evens of Berieficrary s exercise of the power of sale contained herein. or in the event of foreclosure, aN nght title and interest of ,Trustor, -n and to any insurance policy then in force shall pass to the purchaser at the trustee's safe or foreclosure sale. in case of any loss. the insuran=ce 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 reswrkag the Tnisf Property partially or totally destroyed to a condition satisfactory to Beneficiary: or sand insurance proceeds, or amt portion thereat, may be released to Trustor. Unless Beneficiary and Trustor otherwise agree in writing, any such application of insurance proceeds shah not extend or postpone the due date of the Note, or any installments caged for ttwmn- or change the amours of such iristalknents. If the Trust Property is acquired by Beneficiary pursuant to the exercise of the power of sale or other foreclosure, all right tde and n itmest of Trustor in and to any insurance proceeds payable as a result of damage to the Trust Property poor to the sale or acguisi6on shall mass to Beneficiary and shag be applied first to to costs and expenses. :nckrdmg attorney fees, incurred in coffee" such proceeds, tffan in the manner and in the order provided herein- _ $_ Preservation and Maintenance of Trust Property. Trustor wig keep the buildings and other improvements now or hereafter erected on _ the Trust Property in good repair and condtion and wig not commit or permit waste. will not alter the design or structural draractar constituting any building now or hereafter erected on and constituting tine Trust Property mtt*w the prior written consent of Beneficiary, will not do any actor fining which would urndufy impair or depreciate the value of the Trust Property and wig not abandon the Trust Property. Trustor will not remove any frxWres constituting the Tnist Property unless the same are r rr tied atefv replaced with tike property subject to the teen and security interest of this Deed of Trust and of at least equal value and utility. Trustor will corrrpiy with - all present and future ordinances. regulations and requirements of a-y governmental body which are appitcable to the Trus y and to the occupancy and use thereof. if this Deed of Trust is on a urm in a condominium or a planned unit devebpment Tnisirr sho perform all of T.rustor's obligations under the declarations or covenants creating or governing the Condominium or file purred tow development. the bylaws and reguiations of the condominium or planned unit development and the constitUallf - ocume ts. 9, Inspection- Beneficiary or its agents may, at adi reasonable times, enter upon the Trust Property for Moe purpose of inspeCtofir Beneficiary shall have no ci..y to .make such lrispection and snail not be liable to Trustor or to any person in possess; or if it makes or fails to make any such inspection. 10, Protection of Security. it Trustor tails to perform any of the covenants and agreements contained in this Deed of Trust orif any acv.cw yr proceeding is commence wrirch does o . nay adversely affeci tie Trust Property or the interest of Trusax or Bene�°ary gran or the title of Trustor thereto. then, Beneficiary at =M option. may perform such convenants and agreements, snake such appearances, defend against and investigate such action sir proceeding and tame such other action as Beneficiary deems necessary= to e interest including. but not limited to. drsoursement of leasonable attorney fees and entry upon the Trust Property to snake repairs, At-#, amounts disbursed by Beneficiary pursuant to this paragraph 10- wth interest thereon, shall constitute indebtedness of Tnssw secured by this Deed of Trust Unless Trustor anc Beneficiary agree to other terms of payment, such amounts shag toe payabla, apori ;^oboe from Beneficiary to Trustor requesting payment inane&, and shah bear interest from the date of disbursement at default rate - It any. set forth rn the Note. or otherwise at the highest rate permitted by law Nothing cointainea in this paragraph shak'rewre Beneficiary to incur any expense or take any action hereunder. Trustor irrevocably, authorizes and empowers Benefg ary tC enter upon the Trust Property as Trustor s agent and. ern Trustor s name or otherwise to perform any and all covenants and agreeriem, m be Wormed by Trustor as herein provided Beneficiary shak at as option, be sub:rogated to any ericurnbrance. fen, c are or --ei rand and to ail rights and secuntres for the payment inereo` page or discharged liv Beneficiary under the provisions versof and anv c- subrogation rights shall be additional and cam;iiavve secanty for viis Deed of Truer- 11. Condemnation. The proceeds of any award or claim for damages, direct or consequential. rn connectipn With ary .crxdem : :«atror Or other taking of the Trust Property. or any parr thereof. or for conveyance in :Teri of or ,n anbcipation of condemriata-jr: assigned to and shall be paid to Be tei'ciary ',usfor will file and prosecu *e, in good faith a ^3 with due diligence. - °= c a� - award or payment, and wili cause the same tc', be collected and paid to Beneficiary. and.. should it fall to ✓o so Trust , .e •mat ry authorizes and empowers Beneficiary ;r the 'Tame of Trustor or otherwise. to file, prosecure settle or col -grmse anv Sucr curl and to collect, recent for and retain the proceeds V r.ne Tr ust Property is abandoned by Trustor, or. after notice 7r Beneficrary tc Trustor Mat the t,-cndemnor offers to make an award or settle a claim for damages, Truslor fails to respond to Beneficiary w1*,'u7 „ty,•s .days after the date such notice is maned. Beneficiary is authorized to collect and apply the proceeds in the manna indicated rte err: The proceeds of any award or claim may, alter deducting all reasonable costs and expenses. including attorney fees, which may rare been incurred by Beneficiary in the coilectw, thereof. at the sole discretion of Beneficiary, be released to Trustor, appked to esforation of Trust Property, or applied to the payment of the tnd btedness. Unless Beref:crary and Trustor otiner*„se agree in r ^ting, any such application of proceeds to Indebtedness shall not extend or postpone the due date of the (vote or the payment r^ any installments called for thereunder. 12, .Trustor Not Released. Extension of the time for payment or modification of any amortization of the indebtedness granted ivy Beneficiary to any successor in interest of Trustor shall not operate to release, in any manner, the liability of Trustor and Truster s successors m interest. Beneficiary shall not be required to commence proceedings against such successor or refuse to extend :im lot payment or otherwise modify amortization of the indebtedness by reason of any demand made by Trustor and Trustor s successors in mterest. 13. Financial Information. Upon request of Beneficiary, Trustor wi6 provide to Beneficiary. within ninety `90"i days of fie crgse of eac : tscat year of Trustor, the consolidated balance sheet and statement of earnings of Trustor and any and ail guarantors of the indebtedness secured ,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, Financial Covenants. In addition to any other financial covenants of Trustor made in any other agreement instrument- cr document. Trustor shall comply with and shall cause any and all guarantors of the Indebtedness seSureil neeby tc comoriv with, sr be ra compliance with, the followmg financial covenants 'This paragraph shaft not apply if covenants arrd requiremenrs are nlr set forth herem.i -45. Schedule of teases. Within ten %10i days after demand. Trustor shah furnish to Beneftcfary a schedule, %e,r;tied rE by Trusts . :z .r:y forth ail leases of the Trust Property, or any portion thereof, including in each case, the name cr' r^+e tenar;t nr E.FCut,arrr> ;_ of the space occupaid by such tenant or occupant, the rental payable for such -,Pace, ar o •,uc' - iXi`?(,T = ^rtrt. rt"spect to such ;ease and tenancies as Beneficiary may reasonably request