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insurance premiums, ground rents, and all other charges whatsoever levied upon or assessed, placed or made against the Trust
<br />Property. Trustor further agrees, upon written request by Beneficiary, to promptly deliver ro 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 />against or measured by, this Deed of Trust or the recordation hereof.
<br />405. Application of Payments. All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor
<br />LO 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 />m manner of application which Beneficiary, io its absolute discretion, deems appropriate. Unless otherwise elected by Beneficiary, any
<br />such payment shall 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 />Q 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 />Tmsfor shag 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 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 />Go 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 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 shall be in form acceptable to Beneficiary, provide that the same may not be
<br />cancelled 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 or 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 />carrier. Beneficiary shall 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 lass, 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. All policies of insurance and any and all refunds of uneamed 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 s".contained herein, or in the event of foreclosure, aft right, title and interest of Trustor in and to any insurance policy then in force
<br />shaft 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 !hereof, 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 instalments called for trierein, 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. Trustor will keep the buildings and other improvements now or hereafter erected on
<br />the Trust Property in good repair and condition and will not commit or permit waste, will nor 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, will not do any act or thing which would unduly impair or depreciate the value of the Trust Property arid will no! abandon
<br />Me Trust Property. Truslor will not remove any fixtures constituting the Trust Property unless the sane are ,mmedietoly replaced with
<br />like property sublet! to the lien and security interest of this Deed of Trust and of at ;Fast equal vaiuc- and utaty. Trustor will comedy with
<br />a# present and future Ordinances, regulations and requirements of any govemrnentat body vtiich are applicable to the Trust Property
<br />and to the occupancy and use thereof. If this Deed o; trust is on a unit in a c:ondorninium u; a ,oranned unit development. Tn.efor shall
<br />pertorm all of Trustor's obligations under the declarations or covenants creating or governing the cc!nu000 ;nium or I!ie planned unit
<br />development, the bylaws and regulations of the condominium or planned unit devei::pmeri!. ono thtd consWoent documents
<br />9. Inspection. Beneficiary ar its agents may, at all reasunabie times, enter upon !6e Trust Pr ^party far the purpose of r, ispocrion.
<br />Beneficiary shall have no duty to make such inspection and shalt no! he liable to Truslor o,,*,,,) any person in possessor: d ;t makes or
<br />faits to make any such inspection.
<br />10. Protection of Security. If Trustor tails to perform any of the covenants and agreements contained in ,his Dowd of Trust, or if any action
<br />or proceeding is commenced which does or may eovursely affect ! ^e Trust Property or the interest of Truslor or Beneficiary therein or
<br />the title of Trustor thereto, then Beneficiary, at its option, may perform such comcnants arid agreements, make such appedrances,
<br />defend against and inveslrgate such action or proceeding and take su h other action as Bwnclicrary dawms necessary fc prc,!ecf its
<br />interest including, but not iimited to, disbar ement of reasonabie attorney fees and er,!r epor; trio Trus! Property to mare repara Any
<br />amounts disbursed by Beneficiary pursuant to rhio; paragraph ID, with interest thereon. ,;fin;! constitute lndebtt ;an�ss cf Trustor
<br />secured by this Deed of Trust. Unless L.rsror and Beneficiary agree to other f rrns cf payment surrti anwunts ;hell he p, yat;ri - :"on
<br />notice from Bwvbcrvry!o Trustor requesting payr•hent hefeet and shall bear i, rcrr,t rn I'll rl r e c Ls . ;erne,r at m, tar , ! rate
<br />if any, set forth in the Note, or otherwise at the hiy,hest rare pt,rnu' ed ny law Nc i,ig c ,E;, n, rns rrtragr ph s ,a tv
<br />Beneficiary to inCur any expense of take any actu n hereunder frus!ui iriev wbiy aulh) r s acrd empowers enref upon
<br />the Trust P r o p e r t y as Trustor s agent anti, in Trusts s name or o!r crwise ro periorm a y rid ai c. ive n r,rs yv t agr. , mt us ui be
<br />performed by Trustor a4 herein provided. Beneficiary shall, ar its option, he surrogated r, any tic i ,•nranr r, ion : 1 im or ejernana
<br />and to &#rights and securities for the payment tl :ereol paid or discharged t:, G6r,c•r : :: a ,unto t ;;•o✓ eioor and :rni +,;tort
<br />subrogation rights shall be additional and cumulative security lot this D(!C 1 of Trust.
<br />1 L Condemnation. The proceeds of any award or cram for damages, direct or curisequenrial, in connec!ioii with any condemnation yr
<br />other taking of the Trust Property, or any part thereot, or for conveyance in lieu of or ;n anticipation of carxiarnnator,. are nererly
<br />assigned to and shall be paid to Beneficiary. Trustor will file and prosecute, in guud farm and with cue ud Bence. it3 claim for any SuCri
<br />award cw payment, and will cause the same to be collected and paid to Beneficiary, arid, shai,id it led tc do so, Trustor wove cabiy
<br />authorizes and empowers Beneficiary, in the name of Truster or Otherwise, to file, pruSecci!iJ sett;e o' comii,omise any SY cf1 Ciff:m and
<br />to collect, receipt for and retain the proceeds. 1f the Trust Properly is abandoned by lust „r, or. aftur nirt<:e 1;y Bent . =nary x. ,a- -!rr
<br />that the condemnor offers to make an award or settle a claim for damages. T u ,, la! .o rwspcvr l to ficrie hc+aiy within thirty +t,i days
<br />after the data SUCK n01r, ^.9 iS mailed, BenaliCidrj is d! „i!Cnl@d to Lcd,C•Ct and „i ly the p reds i !;e nr�r t•r n: +t :Hte<r hi�rei L lire
<br />proceeds of any award Or Claire may, alter dedur. tiny ail reasonawe costs and experisc � "clod nr, i Fame. y tees, art r7.
<br />been incurred by Beneficiary in the coileCbon Meteor, at the sole diSC/etion of Benefr_iary, t.+C+ n,le3s @•ry !n Trustor, &;j;!iveCl 1J
<br />residratlWr Of Trust Property, or applied ro the payment of the lndabtedr>ess. Unless Beriedciary Fan rrtistur vlhvtw, r agate w
<br />any Such applrda &On Of prOCeeds to lndebtedrreas :;hail net Gxte"d or pustfi? rill fiiv due (!,!Q !J „ c. hG pay. h u! an y
<br />irhstatfinents called for thereunder
<br />12 Trustor Not Released Extension Of the time for payment or ntodifieaUOn of any amcnr�a on lit rile i >debtedn! s5 t; a to cr C y (i.
<br />to any successor rrt interest of Ti uslor Shall net r�perafe to release, in any mar r f r the rf +i y of iru�trn art ! I i _ors r c. i c qi
<br />orterest flenii4Ciary shall nisi be requited t0 � CN 7n rE rice prticeedlnq rc)aulst � I u r .air :r i l i. i. Ic
<br />otherwise modr}y arnr,Mization rd the inr)wbtad ic.:., uy r.,,a ;�r, ;t alit di_
<br />in interest_ -
<br />18. Finial Informaryort, Upon request of Be ritrtx nary, Trust's will prclwdw to Aenel c hi i r is : i 1 tr e use ion r ;,i
<br />year of T,ruslw. the consiuhaa!iad balance °sheet and start nup i d earn invs o'
<br />SOC{Fred hereby, it any, and will prov deg frid pie uver !o ! t ,r.t „'._Fry Sulu cdr,er r i,rrc
<br />may reilffianebfy rHattles! ficuri Jrrnk in r- r, ;
<br />14 Financial Covenants +•,arc! to , 1-any Whrif fn w-(. C w c ndr't5 a <'Ur , ,r[.•, ” <an, ��.. r r rir•+,t
<br />Trustor Shall Co7npry wdh wlff ' hRH .iu ^u ,any iii^, ,a ' yt� „ u 6.. r; ; !n<1t, - ,; •:c+-!
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