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arsufarrtle prernrun Is. ground rents, and an other charges wh; c: clef levied up 'oil or assussod Placed or made au, uw,:t the 1 Iru:,l
<br />"
<br />Property. Trustor 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 all taxes, assessments and other charges levied upon or assessed, placed or made
<br />ri against, or measured by, this Deed of Trust or the recordation hereof.
<br />QS. App#co*w of Payments. AN payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor
<br />10 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 />q1 marlowof application which Beneficiary, in its absolute discretion, deems appropriate. Unless otherwise elected by Beneficiary, any
<br />such paymer!t shelf be deemed applied first to the payment of any debt, liability or obligation other than the Note.
<br />06. Charges; Liens. Trustor will keep the Trust Property free from all liens and encumbrances which in any way may, in The judgment of
<br />Berlokitary, 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 shell agree, in writing, to pay the obligation secured by such lien in a manner acceptable to Beneficiary and shall in good faith
<br />contest such ken by appropriate logo/ 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 fnstuance. Trustor shaft 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 baler hazards, casuahfes and contingencies as may be required by Beneficiary, in such amounts and for such periods as may be
<br />required by Beneficiary. The policy of insurance shah be in form acceptable to Beneficiary, provide that the same may not be
<br />cancoaed 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 (T5) days prior to the due date, directly to the insurance
<br />carrier. Beneficiary she# have the right to hold the policies and renewals thereof and Trustor shall promptly furnish to Beneficiary all
<br />renewer notices and off paid premium receipts received by #, 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 on 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 carrier and Beneficiary. Beneficiary may make proof of loss if not
<br />made promptly or in proper form by Trustor. AN 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 saki contained herein, or in Me event of foreclosure, all right, title and interest of Trustor in and to any insurance policy then in force
<br />shaa pass to the purchaser at the tnistee'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 Bonehcrary, 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, title and interest of
<br />Trusts 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 lees, incurred In collecting such proceeds, then
<br />in the mamrer and in the order provided heroin.
<br />8 Preservation and Maintenance of Trust Property. Trustor will keep the buildings and other improvements now or hereafter erected on
<br />Me Trust Property fn good repair and condition and will riot commit or permit waste, will tint alter 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, wig not do any act or thing which would unduly impair or depreciate the value of the Trust Property and will riot abandon
<br />the Trust Property Trustor will not remove any fixtures censhfutirg rho Trust Properly unless the same are immediately replaced with
<br />kke property subject to the lien and securityy interest of this Deed of Trust and of at least equal value and utility Trustor will comply with
<br />a# present and future ordinances. regulations and requaements nl any yovemmenfa! body which are applicable fo trio Trust Properly
<br />and to the occupancy and use thereo! it this (hied of Trust is un a unit in a condonirns:m or a planned unir development, Trustor shall
<br />perform all of Trustor 's obligations under the declarat ions or covenants creating of governing ilia condominium or ilia planned unit
<br />development, the bylaws and regulartons of the condilfnn0um air planned unit development. atoll file constituent doCur?enfS
<br />g. Inspection. Beneficiary or its agents may, at all reasonable times, enter upon the Trust Property ter the purpeso of inspection.
<br />Beneficiary Shale have no duty to make such rnspecloon ano shall not be liable to Trustor or to any person to possession of of makes or
<br />lads to make any such inspection
<br />10. Projection of Security V lrusto, fails ra nerfnrm any of the CQVenenr$ and agreements Contained rn th,s Deed of Trust, or of any action
<br />or proceeding is commenced which daps o! rn;iy advre%v1y aVect b)e ;first Properry or the i:;teresr of lrusto( or Beneficiary thereon or
<br />rho TWO of Trustor thereto. then Beneficiary, at :ts Opt-r. "nay perforfn such convenafils and agreements, make such appearances,
<br />defend against and Investigate such action it pror.eed:nq and take such other action a: Heneficiary dooms necessary to protect its
<br />interest including, but trot hmried fo, disbursement e? is °a .c?nabte attorney fees and entry upon the null Properly to (rake repass. Any
<br />amounts disbursed by Beneficiary pursuanf to this j ardgraph 10. ,vllh interest theroon shall r_on.shfuto Indebtedness of Trustor
<br />secured by this Deed of Trust Unless ?rustor and Beneficiary agree to other terms of payinpor, such amounts shaft he payable upon
<br />notice from Beneficiary to Trustor requesting pal men( thereo!, anti shall briar tolveesl horn the dale of d,sbur serpent at the rlatacrlt rare,
<br />d any, set loth in the Note, or otherwise at the highest rate psrmirted by law Nothing contained iri fins paragraph shall require
<br />Beneficiary to incur any expense or rake any acr,on hereunder rn,stnr Irrevo ably auflionres and empowers Benefroiary to infer upon
<br />the Trust Properly as Trustors agent and, in truster s name or otherwise to perform any and alt covenants and agreements to tie
<br />performed by Trustor as herein provrded Brineficrary shah, of its option, be subfogafed to ally encumbrance, her), claim ci defnand
<br />and to as rights and securities !tor the payment thereof pa,d or &scharyed by Beneficiary under the provisions hereof an,l any sun h
<br />subrogation rights shall be additional and cumulative security for this heed of Nun!
<br />t 1, Condemnation. the proceeds of any award or claim for damages, direct or consequential, in connection wilh any condernnafiurl of
<br />other taking of the Trust Properly, or any pan thereof, or for conveyance in lieu of or in anticipation of Condemnation, are hereby
<br />assigned to and shah be paid to Beneficiary This for wail file and prosecute, in good faith and with due diligence, its ( la,nr for .my such
<br />award or peymanf, and will cause the same to be cotlerrotf antl paid to Beneficiary, arid, should it riot/ to do so, Trustor ifrevocabiy
<br />authorizes and empowers Beneficiary, in the name of In @:Ior or otherwise, to file, proserute, settle or conipromise any sot.h clam; aril
<br />to roiled receipt for and retain the proceeds If the Trust Properly is abandoned by Trustor, of, alter notice, by Boof,fic"iary fn rustor
<br />that the Condemnor otters to make an award or settle a claw? for damages, rrustor falls to respond h) Benebciary wiUIIn thirty (30) days
<br />aher the date such notice is mailed, Benefir"iaf y is awhonred to collecf and apply the pra:eeds m f /er rnanner ,nrficaled herein the
<br />procNds of any award or claim may, after deducting all lea;onable costs and expenses, Including attorney toes, whrth nxty have
<br />been incurred by Beneficiary in the collection thereof, at the sore discretion of Beneficiary. be released to Trustor, applied to
<br />fostorsaen of Trust Property, or applied to the payment of the Indebtedness. Unless Beneficiary, and Trustor otherwise aytee in wiling,
<br />any such application of pro eeds to Indebtedness shall riot extend or pnsfpone the due date of file Note or Vie pa ynient of an y
<br />installments called for thereunder
<br />12. Trustor Not Released. Extension of the time fo payment or modification of any amortization of the Indebtedness granled by fienehr,ary
<br />to any Successor in interest of T!usfor shall not operate to lefease, in any manner, file hab ity of irestor and Trustor ; fucccssnr5 m
<br />interest Beneficiary shalt riot be required to rommence pror:eerfings against such successor or refuse to extend Nunn for payn;e?rt c,r
<br />othenvjae modify amortization of the indebtedness by mason of any demand made t;y Trustor and humor's successors
<br />#1 interest.
<br />11 Financial kMWmaborr Upon request of Beneficiary, Trus or will provide to Beneficiary within rirriory I'll)) d ly s of the c l ue of a u h it i it/
<br />year of WSW the consolidated balarxca street @fill sr, demenf of earnfny.s of Nuslor and any and ;Ill if u9lantoft of it e Itlef htr d e' - -.s
<br />secured hereby. it any, and wit/ prnwde and deliver to Banehcfary such otter tinam:ral ,n forma haul and n such n r q7r rs l it f f I,,rry
<br />may reasonably request from time to bone
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<br />14. Frnancial Covenarlfs in ad;hfhx) ici any other financial rnvenanfs of Trustor mark" 'n any ofhnr ;nlreami tor, ,rr;eun r•nr fir el. i i,. tit
<br />Trusfe► shek comply with and draft cato5e any and Nil quatAolors of Ihrr lncfeble,lr. "a ceru e,1 herr.ht r. rfvrh? i u rr r be 'r,
<br />t*w
<br />CompprarrCo W/ei, tiro folfpwelf; hnanCral crI.i:n;lms I this f�arar)!,Iph .%hW;I n01 app" r ,I ,-i: y,`r r.dl,r`; ac;t ,r?flt ;rrr'r!ii.i l; :i, e•'•r, rf ' ,f
<br />kxM hNwn J
<br />15. Schedule of looses Within len f 10i days Utter dennnd, •'raisin' snail lunnsl: to
<br />kVM *V Males arnra Troll fh(rperty, or any poffiou there-,, fir ;wfwii in each
<br />rnr he 4pw le r'rrc urbRd by %re: r: Ipnanf ry ia. i- open;, the, n +nry +. payiel d) rnr c „ -'h i ;:n n ,e •r. ,. r.:. 7":I
<br />felilwf it) Sew rl tea YbA and fenaof ,ors is 14Rnehr`,Nry rn.lr' r.,a.tn,?ahly
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