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005992'
<br />4. REQUIRED INSURANCE Trustor shall at all times provide, maintain
<br />and keep in force ire and extended coverage insurance against loss or
<br />damage to the Improvements. Such insurance policies shall contain a
<br />standard mortgage clause in favor of the Beneficiary and shall not be
<br />cancellable or terminated without fourteen (14) days prior written notice
<br />to Beneficiary. Evidence of such insurance shall be provided by Trustor
<br />upon request in an amount not less than the original amount of the Note.
<br />5. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and
<br />contest any action or proceeding purporting to affect the security hereof
<br />or the rights or powers of Beneficiary or Trustee, and shall pay all costs
<br />and expenses, including cost of evidence of title and attorney's fees, in
<br />any such action or proceeding in which Beneficiary or Trustee may appear.
<br />Should Trustor fail to make any payment or to do any act as and in the
<br />manner provided in any of the Loan Instruments, Beneficiary and /or Trustee,
<br />each in its own discretion, without obligation so to do and without notice
<br />to or demand upon Trustor and without releasing Trustor from any
<br />obligation, may duke or do the same in such manner and to such extent as
<br />either may deem necessary to protect the security hereof. Trustor shall,
<br />immediately upon demand therefore by Beneficiary pay all costs and expenses
<br />incurred by Beneficiary in connection with the exercise by Beneficiary of
<br />the foregoing rights, including without limitation costs of evidence of
<br />title court costs, appraisals, surveys and attorneys fees. Any such costs
<br />and expenses not paid within ten (10) days of written demand shall draw
<br />interest at the default rate provided in tii Notes.
<br />6. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to
<br />the benefit of and binds all parties hereto, their heirs, legatees,
<br />devisees, personal representatives, successors and assigns. The term
<br />"Beneficiary" shall mean the owner and holder of the Notes, whether or not
<br />named as Beneficiary herein.
<br />7. EVENTS OF DEFAULT. Any of the following events shall be deemed an
<br />event of default hereunder:
<br />(a) Default shall be made in the payment of any installment of
<br />principal or interest or any other sum securel hereby when due; or
<br />(b) Trustor shall file a voluntary petition in bankruptcy or a court
<br />of competent jurisdiction shall enter an order, judgment or decree
<br />approving a petition filed against Trustor seeking any reorganization,
<br />dissolution or any other similar relief relating to bankruptcy, insolvency
<br />or other relief; or
<br />(c) A writ of execution or attachment or any similar process shall be
<br />entered against Trustor which shall become a lien on the Trust Estate or
<br />any portion thereof or interest therein and such execution, attachment or
<br />similar process of judgment is not released, bonded, satisfied, vacated or
<br />stayed within sixty (60) days after its entry or levy; or
<br />(d) There has occurred a breach of or default under any term,
<br />covenant, agreement, condition, provision, •,epresentation or warranty
<br />contained in any of the Loan Instruments.
<br />8. ACCELERATION UPON DEFAULT. In the event of any event of default,
<br />Beneficiary may declare all indebtedness secured hereby to be due and
<br />payable without any presentment, demand, protest or notice of any kind.
<br />Thereafter Beneficiary may:
<br />(a) Either in person or by agent, with or without bringing any action
<br />or proceeding, or by a receiver appointed by a court and without regard to
<br />the adequacy of its security, enter upon and take possession of the Trust
<br />Estate, or any part thereof, in its own name or in the name of Trustee, and
<br />do any acts which it deems necessary or desirable to preserve the value,
<br />marketability or rentability of the Trust Estate, or part thereof or
<br />interest therein, increase the income therefrom or protect the security
<br />hereof and, with or without taking possession of the Trust Estate, sue for
<br />or otherwise collect the rents, issues and profits thereof, including those
<br />past due and unpaid, and apply the same, less costs and expenses of
<br />operation and collection including attorneys' fees, upon any indebtedness
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