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R�_. 10'731 4
<br />insurance premiums, ground rents; �Td aH other charges whatsoever levied upon or assessed, placed or made against the Trust
<br />Property. Trusty further agrees, upon written request by Beneficiary, to promptly deliver to Beneficiary all receipts for the payment of
<br />such charges. Trustor likewise agrees to pay aff taxes, assessments and other charges levied upon or assessed, placed or made
<br />against, or measured by, this Deed of Trust or the recordation hereof.
<br />S. 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 appkaabDn which Beneficiary, in its absolute discretion, deems appropriate. Unless otherwise elected by Beneficiary; any
<br />r
<br />such payment shall be deemed applied first to the payment of any debt, liability or obligation other than the Note.
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<br />6. Charges; liens. Trustor will keep the Trust Property free from ail 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 Trustor need not discharge any such lien so long as
<br />Trustor shad agree, in writing, to pay the obligation secured by such hen in a manner acceptable to Beneficiary ano shall in good faith
<br />contest such lien by appropriate legal proceedings effective to prevent the enforcement of the lien and the loss of any interest in or
<br />Part of the Trust Property .
<br />7. hazard insurance. Trustor shall keep the buildings 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 term "extended coverage' and
<br />such other hazards, casualties and continyancies as may be required by Beneficiary, in such amounts and for such periods as may be
<br />required by Beneficiary. The policy of insurance shall be in form acceptable to Beneficiary, provide that the same may not be
<br />canceled or modified 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. All premiums on insurance policies shall be paid in the manner provided under paragraph 4 hereof
<br />or. if not paid in such manner, by Trustor making payment at least fifteen (15) days prior to the due date. directly to the insurance
<br />carver. Beneficiary shag 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 loss, Trustor shall give prompt notice by mail to the insurance earner 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 ail refunds of unearned premiums are hereby
<br />assigned to Beneficiary as additional security for the payment of the indebtedness in the event of Beneficia. y's exercise of the power
<br />of sate 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 trusree 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 rr, such order and amount as Beneficiary may
<br />determine: or said insurance proceeds. at the option of Beneficiary. rlav 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, title and interest of
<br />Trustor 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 Trustct will keep the buildings and other improvements now or
<br />,hereafter erected on
<br />the 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 budding 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 wou.fd unduly impair or depreciate the value of the Tn1Sf Prop ty and will not abandon
<br />the Trust Property. TruSfor will not !emove any frxrures conshtuhng 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 writ comply with
<br />all present and future ordinances. reguiations 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 Lust 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 aril regu.aoun, of thr,, :.ardor nun? ur punned urns development, and the constituent documents.
<br />9 inspection. Beneficiary or its agents may Wall reasonable tames. enter upGn the Trust Property, for the purpose of +nspecron
<br />Beneficiary shall have no dury to nave such inspection and shall no; be lrabte to Trusror or re any person in possession 'f it makes or
<br />fails to make any such ,nspectron
<br />10. Protection of Security If Trustor rains re perform any ct ;tie covenants and agreements contained in this Deed of Trust. or if any action,
<br />or proceeding is commenced wh ch does or may adversary affect the Trost Property• pr the interest of Trustor or Berehcfary therein or
<br />the title of Trustor thereto then Beneficiary at IS option may perform such corverants and agreements. make such appearances,
<br />to
<br />defend against and investigate such action ar proceeding and take such nth:er action as Beneficiary deems necessary to protect its
<br />interest includin but not limited to disbursement of reasonable attome
<br />4• y fees and ant ✓upon the Trust Property to make repairs. Any
<br />amounts disoursed by Beneficiary pursuant is this paragraph 10. wirn :nreresr thereon shalt constitute indebtedness of Luster
<br />secured by this Deed of Trust Unless Trustor and Beneficiary agree to other terra; cf payment, such amouras shall be payable upon
<br />notice from Beneticiary to Trustor requesting payment thereof and shah bear detest front the date of disbursement at the default rare,
<br />if any, set forth ,n the Nore. or otherwise at the highest rate pe .mrfted % , raw Nothirg contained m this paragraph shall require
<br />Beneficiary to incur any expense or rake any action hereunder TruS!C,r ire. Cabty authorizes a---f empowers Beneficiary to enter uper,
<br />the Trust Property as Trustor s agent and. in Trustor s name cx otherwise ro perfeml arty arc, all covenants and agreement; t0 be
<br />performed by Trusror as herein provided Benehciary Shari, ar ;rs optic.^ be subrogated to any enrumbrarce. lien. Maim or demand
<br />and to all rights and secun ^es for the payment rhereof paid or rtisc ^amed by Benefciary under the provisions hereof and any such
<br />subtogatior rights shall be additional and cumulative securr; rc..' ;,s Lieer cif ''us:
<br />Condemnation. The proceeds of any award Cr c iaim 'Or damages direct' or rorseauenbai -, , onnectio:n with any condr rnarion or
<br />other taking of the Trust Property. or any part thereof or . or . conveyance in Ireu Of or in antrc!parior or condemnahcn. are hereby
<br />assigned to and shad be paid to Beneficiary Trustor w♦di .41e and prosecute !r1 good faith and with due diligence, Rs claim for any such
<br />award or payment. and will cause the same ro be couecreo and paid to Beneficiary. ano, should it fail to do so. Trustor irrevocably
<br />authorizes and empowers Benebc ;ary, in the name of Trusror or otherwise to file prosecute. settle or cormpromse any such claim and
<br />to collect receipt for and retain the proceeds if the Trust property is abandoned by `rusfor or after notice by Berehciary to Truster
<br />that the condemnor offers to make an award or settle a claim far damages Trustor fasts .'b respond to Beneficiary wrthtr thirty 1301 dais
<br />after the date such .rlottce is marled. Beneficiary ?s 3UM-GaZeC to collect and apply the proceeds in the manner indicated herein T
<br />proceeds of any award or claim ,may, after deducting a/! reasonable costs and expenses, including artorney fees. whit h may have`
<br />been rncurred by Beneficiary in the collection trlereOf at the sole discretion of Benef'Ciary, be released ro Trustor. applied tc
<br />restoration Of Trust Property, Or applied to the oayment Of fne !ndebtedness Unless Benefrc!arF, and TrLisror otherwise agree ;r wrrinq
<br />any such application of proceeds ,(,,.Indebtedness shall "et extend or postpone the due dare .,O 'he Nore or ;tie payme ^t of any
<br />instailm@. -IS called for tyereur-,der
<br />12 Luslot Not Released Extension O the :lame ifr pay'mertf t?! moddtcatitbn Of ary a"Or7,2afipn of rh., lr ; +c+bre.7 ;leSS gra.1(ed by
<br />rd any successor in interest bf TrdstGY shad not operate !o re%ease, ;n any manner. the tiabi &ti' iii T'::Si" drill Tr;;stor s su, ceti,oF s •r
<br />interest BenefiC:ary shall •^.0.t be required to commence pnoceedings against such s ;lccesscr . e use !c extend `. e !"r nay. i. .•
<br />Otherwise modify amOrt•zarion of he indebtedness by reason of any ,riisro, dr rust r s si C'Ctl�snes
<br />an triter @St..
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