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86-.. 108072
<br />HIS"10e prenwrms, ground rents and all other charges whatsoever levied upon or assessed placed or made against the Trust
<br />Properly. TnNW furfhe agrees. upon written request by BW*Ocfay, to promptly deMver to 9eneficary, all rocerpts for Me payment tmf
<br />such cmeges. Trustor Nowise agrees to pay aN taxes, assessments and other charges levied upon or assessed, placed armada
<br />against or measured by, tae Deed of Trust or the recordation hereof.
<br />5. Appicasbn of Payments. AN payments received by Beneficiary as to any debt, Nabiky or obMgabm owed to Beneficiary by Tnmwr
<br />may be applied by Berhsbcfay eo the payment Of tiro indebtedness or to any such other debt MabWy or obMgnam, in any ofd« or
<br />manner of VPAcWon which Beneficiary, in ins absolute abecretioa, deems appropriate unless ot,erm" elected 4 BemPoiaq, any
<br />such payment Shah be deemed applied rest to time payment of any debt, kab ty or obagaaon other star► the Note.
<br />6. ; l ierhs. Truebr will keep tore Trust Property hee horn aN Mans and encumbrances which in any way may, in the Judgment of
<br />aff"wary. have priority over, or impair t» security of, this Deed of Trust but Tnrstar need riot discharge any such lien so long as
<br />Trustor shad agree, In witting, to pay this obAigaton secured by such lien in a manner acceptable to Be►eNciary and shah in good faith
<br />contest such Men by appropriate "at proceedf figs effective to prevent the enforcement of the Mn and the lass of any nttesst in or
<br />Part of the Trust Piroperty.
<br />7. Hazard hrsurance. TnhsMr shah keep the buildings and other improvements now existing or hereafter erected on the TnaK Property
<br />insured by fmtrance carriers satisfactory to Beneficiary against lots by Are hazards included in the term "extended coverage" and
<br />such other hazards, casualties and — Nigencies as may be required by Beneficiary, in such amounts and for such periods as may be
<br />►equned by Beneficiary . The policy of insurance shelf be in form acceptable to Berber -ary, provide that the same may not be
<br />cancelled or modified wWxwt fifteen (15) days prior written notice to Beneficiary, and shall have loss payable previsions in favor of and
<br />in form acceptable to Beneficiary. Alf premiums on insurance policies shall be paid in the manner provided under paragraph 4 hereof
<br />or, if not paid in such manner, by Trusts making payment at least fifteen (15) days prior to me due date, directly to the insurance
<br />carrier . Beneficiary shall have the right to hold the policies and renewals thereof and Trustor shall promptly fumfsh to 8e►eficlery all
<br />renewal policces and ad paid premium receipts received by it fn no event shall Beneficiary or Trustee be held esponsible for failure to
<br />pay insurance premiums or for any toss or damage ansing our of a defect in any policy or arising out of any failure of any insurance
<br />company to pay for any lass or damage insured against or for failure by Trustor to effect the insurance required hereunder. In ft event
<br />of loss, Trustor shall give prompt notice by mail to the insurance carver and Beneficiary. Beneficiary may make proof of loss it 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 pdfcy 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 Trustor. 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. If the
<br />Trust Property is acquired by Beneficiary pursuant to the exercise of the power of sale or other foreclosure. all right, We and interest of
<br />Trustor in and to any insurance proceeds payable as a result sit 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 wig keep the buildings and other Improvements now or hereafter erected on
<br />the Trust Property in good repair and condition and wg! not commit or permit waste, will not after the design or structural character
<br />constituting any building now or hereafter erected on and constituting the Trust Property without the prior written consent of
<br />Beneficiary, will not do any act or thing which would unduly impair or depreciate the value of the Trust Property and will not abandon
<br />the Trust 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 />elf 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 regulations of the condominium or planned unit development, and the constituent documents.
<br />9. Inspection. Beneficiary or its agents may, at all reasonable times. enter upon the Trust Property for the purpose of inspection.
<br />Beneficiary shall have no duty to make such rnspectfon and shall not be liable to Trustor or to any person in possessio^ if it makes or
<br />fails 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 Properly or the interest of Trustor or Beneficiary therein or
<br />the title of Trustor thereto, then Beneficiary, at its option, may perform such convenants and agreements, make such appearances.
<br />defend against and investigate such action or proceeding and take such other actin as Beneficiary deems necessary to protect its
<br />interest including, but not limited to, disbursement of reasonable anomey 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 Trusror
<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 />Beneficiary 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• clam or demand
<br />and to all rights and securities for the payment thereof pad or discharged by Beneficiary under the provisions hereof and any such
<br />subrogation rights shall be additional and cumulative security for this Deed of Trust.
<br />11. Condemnation. The proceeds of any award or claim for damages, direct or consequential. 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 shall be paid to Beneficiary. Trustor wall hie and prosecute. in good faith and with due diligence, its claim for any such
<br />award or payment, and will cause me same to be collected and paid to Beneficiary. and. should it fad to do so, Trustor irrevocably
<br />authorizes and empowers Beneficiary, in the name of Trustor or otherwise. to file. prosecute. settle or compromise any such claim and
<br />to collect, receipt for and retain the proceeds. if the Trust Property is abandoned by Trustor, or. after nonce by Beneficiary to Trustor
<br />that the 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 mailed. Beneficiary is authorized to collect and apply the proceeds in the manner Indicated herein The
<br />proceeds of any award or claim may, after 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, or applied to the payment of the indebtedness. Unless Beneficiary and Trustor otherwise agree m writing,
<br />any such application of proceeds to Indebtedness shag not extend or postpone the due date of the Note or the payment of any
<br />installments called for thereunder.
<br />12 Trustor Not Released. Extension of the time for payment or modification of any amortization of the Indebtedness granted by Beneficiary
<br />to any successor in interest of Trustor shall not operate to release, in any manner, the liability of Trustor and Trustor s successors in
<br />interest. Beneficiary shall not be required to commence proceedings against such successor or refuse to extend time for payment or
<br />otherwise modify amortization of the indebtedness by reason of any demand made by Trustor and Trustor s successors
<br />in interest.
<br />13 Financial information Upon request of Beneficiary Trustor will provide to Beneficiary. within ninety i9of days of me ckse of each fist ai
<br />year of Trustor, the consolidated balance sheer and statement of earnings of Trustor and any and all guarantors of the tndebfedness
<br />secured hereby, if any, and will provide and deliver to Beneficiary such other financial nfDrmahpn and in such tonne± as Benebc a h•
<br />may reasonably request from time to time
<br />14 Financial Covenants In addition to any other hnanctai covenants of Trustor made ,n any other agreement iristrumert or d:x a ^rent-
<br />Trusldr shat/ comply with and shall cause any and all guarantors of the Indebtedness see tired hereby R? ,'nrnply wrtr; n. t,N
<br />compliance with, the following financra covenants (This paragraph shai; nor appfv .f covenants aria •eq_re?Ient!, a. e ra •! �,„
<br />firth herein t
<br />15 Schedule of Leases Within tent 10) days alter demand, Trustor shall furnish is Seneh( ar, a tic' e 7ule ,err I z -, t
<br />forth all leases of the Trust Pro Derr . or an
<br />f y y portion thereat rnCtudmo in each case the ar-ir of the er•ants
<br />Of the Space Occupied by such tenant or occupant the rentai payabie far such spare arc. .u.- • tamer .•�t ;v j_.,: , ,, _ +
<br />respect to such leases and tenancies as Benehctary may reasunabtV request ._.!i
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