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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 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 />against, or measured by, this Deed of Trust or the recordation hereof.
<br />Application of Payments. All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor
<br />00 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 application which Beneficiary, in its absolute discretion, deems appropriate. Unless otherwise elected by Beneficiary, any
<br />such payment she# be deemed applied first to the payment of any debt, liability or obligation other than the Note.
<br />Charges; Liens. Trustor will keep the Trust Property free from all liens and encumbrances which in any way may, in the judgment of
<br />C% 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 />' Truslor 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 lien by appropriate legal proceedings effective to prevent the enforcement of the lien and the loss of any interest in or
<br />LO part of the Trust Property.
<br />C07. Hazard Insurance. Trusts she# keep the buildings and other improvements now existing or hereafter erected on the Trust Property
<br />f 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 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 />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 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. 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 policy 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 pan 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 />I 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. 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 not 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 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 />all 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 inspection and shall not bP liable to Trustor or to any person in possession 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 Property or the interest of Trustor or Beneficiary therein or
<br />the title of Trustor thereto, then Beneficiary, at its option, may perform such convenams and agreements, make such appearances.
<br />defend against and investigate such action or proceeding and take such other action as Beneficiary deems necessary to protect its
<br />interest including, but not limited to. disbursement of reasonable attorney 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 Trustor
<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 subrogatod to any encumbrance, lien, claim or demand
<br />and to all rights and securities for the payment thereof paid 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 will fife and prosecute, in good faith and with due diligence, Its claim for any such
<br />award or payment, and will cause the same to be collected and paid to Beneficiary. and. should it fail 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 notice 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 (30,1 days
<br />after The date such notice is mailed, Benehclary 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 in writing,
<br />any such application of proceeds to Indebtedness shall not extend or postpone the due date of the Note or the payment of any
<br />installments celled for thereunder.
<br />12. Trustor Not Released. Extension of the time for payment or modification of any amortization of the Indebtedness granted by Benehclary
<br />to any successor in interest of Trustor shall not operate to release. in any manner, the llabifiry 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 payn tent of
<br />otherwise modify amortizaton of the Indebtedness by reason of any demand made by Trustor and Tru.stor's successors
<br />in Interest.
<br />t
<br />Q. Financlai Information. Upon request of Beneficiary, Trustor will provide to Beneficiary. within ninety i90) days of the close of each hsc:ai
<br />year of Trustor, the consolidated balance sheet and statement of earnings of Trustor and any and all guarantors of the lndahredr ess
<br />secured hereby. if any, and will provide and deliver to Beneficiary such other financial inforrnahen and in such manner is Renericl,aq.
<br />may reasonably request from time to time.
<br />74 Financial Covenants. In admt oil to any mher financlai covenants oI TluSto! made rn any other agreement. rris!rtl -e rl of 0", u%re^!.
<br />Trustor shall comply viii,, and shall cause any and all guarantors or the IrrdebterJness .. r. n,red hi.re!IV to cnmply wit1 . he yr
<br />inn :pl,ance with . rile foflo —lg hnanc,ai covenants Illy, paragraph shall my apt >iv 'f
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