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85 005066
<br />insurance premiums, ground rents, and all other charges whatsoever levied upon or assessed, placed or made against the Trust
<br />Property. Tnistor 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 need of Trust or the recordation hereof.
<br />5. Application of Payments. All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Truster
<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 application which Beneficiary, in 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 than the Note.
<br />other
<br />6 Charges; Liens. Trustor will keep the Trust Property free from all 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 shall 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 />part of the Trust Property.
<br />T. 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 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 fair 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 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 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 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 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 m 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 m 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 me same are Immediately replaced with
<br />Ilke property sublect to the lien and security interest of this Deed of Trust and of at least equal . alue anti uttlity Trustor will compty with
<br />all present and future ordinances, requ/atrons arid requirements of anv governmenral body which are applicable to the Trust Property
<br />anal to the occupancy and use thereof If this Deed of Trust is on a unit in a condominium or a planned unit (Yevelopment. Trusteir shalt
<br />perform ail of Trustor s obligations under the declarations or covenants creating or governmg 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 (nay, at ail reasonable times, enter upun the i rust Property for the purpose of inspection
<br />Beneficiary shall !cave no dury to make
<br />such inspection and shall not be liable to Trustor or to any person ,n possession If it makes or
<br />tads to make any such inspection
<br />10 Protection of Security it Trustor fads to perlonn any ur the covenants anti agreerr)en!s c. ntainea in rnis Deed of Trust, or If any action
<br />Or proceeding is commenced which does or may adversely ratlect the Trust Property or the rnterersr of Trustor c)r Beneficiary (herein or
<br />the title at Trustor thereto, then Beneficiary, a! its Option, may perform .Such convendnts ono ag,eernenws. make such appearances,
<br />defend against and investigate such actor, or proceedngg aria take such other action as Beneficiary deems necessary to protect Its
<br />Interest , ncluding, but nor Limited tr, . disbursement of reasonable attorney lees and entry upon the Trust Property to make repairs Any
<br />amounts disbursed by Beneficiary pursuant to this paragraph 10, wdh ,nreres! thereon shau curisbrure Indebtedness of Trustor
<br />secured by this Deed of Trust Urdess Tru.slor and Beneficiary agree to pimp !rims of payment such amounts snail be payable upon
<br />notice from Beneficiary to Trustor requesting payment thereof, and shali bear interest from tt)f• ;late Of disbursement at the default rate
<br />it any, set forth rn the Note, of Otherwise at the h,ghest rate permitted by iaw Noting cnnlH+nea in ;firs paragraph snail require
<br />Beneficiary to incur any expense or take any action hereunuet Trus lot,
<br />irevoc ably au!fionzes and c,rripowers Beneficiary to enter upon
<br />The Trust Properly as Trustor, s agent and m Trustot s name otherwi
<br />or e fo ocrtonn anv n r all ocenants ana agreements fo ne
<br />performed by Trustot as herein provided Beneficiary shall at its option. he
<br />uhrogare (1 Iny erct n brance lien. daft; or demand
<br />and to all rights and securities for the payment !nereof paid or disc hdrgea by Beneficiary, , ,tier The provisions hereof and any such
<br />subrogation rights shall be adaitri>nai and cumulative security for tn,...)e<sa of , nsr
<br />t 1 Condemnation The proceeds of any award or clam) for daniaye ;, direct or rpncC•quentrHi. v. connecdcri wry) any condernnatmr
<br />(v
<br />other taking of the Trust Property, of any part thereof cr for conveyance ,n lieu cf or ,r% anhcipahnr, of cnr,dcmnat or!, are hereby
<br />assigned to and shall be paid to Beneficiary Trustor will fife and prusecure, ii good 04n and with due adigeree, Its cialm for any such
<br />award or payment, and will cause the same to be coi,ecteo and paid,, pdo,,o Belle fic,ary. and snoutrl it ta,r to do so, Trustor trrevocabiy
<br />authorizes an(1 empowers Benefrr:Iary, r. trill n amt cif Ira Iry Or oche rwi e, to lilt )ro5t(ut" orrpru rn;e ar) -rich claim anti
<br />ro Collect, re--eipt for ano retain the proceeds it the Trust Pn)peny r,, dbano by
<br />,tied v v the r ,;,!,cf .,y Ron( uC ar, rr n,. ;tnr
<br />that the Condemnor offers to make an award or "oftie a Dann to, (ldtmtga5. Tru S7Gr !ads r. rrrspl rrn Ir' Bent -.
<br />;hc,ary w,lhin thnly ! �>, -I y,,
<br />anal fire dale $uch rior)ce ,$ Ina,led. Banellcaary fS aurhoozed fu c(--lip, I ant} "'j j)4 'her t /(,,.e -1':t `, rr!ia nrl ,r ,,,,(it( at['a r)ert'In Tr;e
<br />proceeds (,if any aWard Or ciaifn may, after deducting ali reaS(iniabie , ;f ,sp, %In l o'pen..f t „1 r ] otfi r•,a � !Fit? wr t P niiiV hril'I'
<br />teen aic:urfed by Beneficiary in !ire (.0tiction thereof, al the ;Wv (hs( e ^nn oi Heovfih -, a eh a e u t., T,w,rw ,1pp6c -ri to
<br />restoration of Trust P openy jr applied to fl7e payment of it)(. ind(tb Cdr( ;5; JniCtiS He %,trio ,cry anCf T' ;ISkn „lher Wl r igrf)e ,) wntiny
<br />any suet, application ,)f proceeds to Indehfeanw s -+hall! not (rxtfand r)r po! jtT ofte flit' ,!u : f_arO ; ! it- INi:rf, .' ilia' ;,.iyf e rif
<br />rnstalfrnents called for thereunder
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<br />any vucrL "s9br10 intere5l Of lu °aor shall not 1,porate f(i n,Iedae. , a ry
<br />nferes ile riehc,ary ;hall not be wiii fe d to ::oinme rice
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