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<br />nrsurance premiums, ground rents, and all otlter charges whatsoever leveed upon or assessed, pieced or ma aja st the Trust
<br />Property. Try further agrees. upon written request by Beneficiary, to
<br />promptly defiver to Beneficiary all recerpAfor the payment of
<br />such charges. Trustor hkewlse agrees 10 Pay ail: taxes. assessments and other charges levied upon or assessed. placed or made
<br />against, or measured by This Deed of Trustor the recordaGon:hereof
<br />5. Appkcaban of Payments- All payments received by Beneficiary as to any debt, liability or obligation owed to Beneficiary by Trustor
<br />"my be•sppked byBeneficiary to the paymeMPf, he tndabledness
<br />or to any SUC17 other debt. liability or obligation, in;anyorder or
<br />main► DfApplication which Beneficiary in its absolute discretion deems
<br />, 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 Vie Note.
<br />S. Charges: Liens. Trustor -will keep the Trust Property free from all liens and encumbrances which in anyway:may, in The judgment of
<br />Berrdidary. "trove priodry<over, orimpairthe security of this,Deed of Trust Trustor
<br />,big need not discharge any such lien so long as
<br />TrosAor~ agree, in W7111119, to pay the obligation secured by such lien in a manner acceptable to Beneficiary and shall in faith
<br />good
<br />contest such han:by epproPnate legalProceedings effective to prevent the enforcement of the /remand 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 onYhe Trust Property
<br />d'ier insurance carriers satisfactory to Be tcrary against loss b fire, hazards
<br />such y included in-the ter: "extended, coverage" and
<br />siren atirar'hazards,.Casualties and contingencies as may required by Beneficiary. in such amounts :and 'for such periods as may
<br />required Beneficiary.
<br />by The policy of insurance shall be in form acceptable to Beneficiary, provide that the same may nor:be
<br />canceked or modified without fifteen (15) days
<br />prior written notice to Beneficiary, and shall have loss payable provisions in favor of and
<br />in form:acceptable:fo Beneficiary. All premiums on insurance policies shall be paid in the manner provided under
<br />paragraph 4 hereof
<br />Or, If not paid in such manner, by Trustor making payment at least fifteen (15) days, priorto the due date, directly l0 fife insurance
<br />earner Beneficiary snail nave the right 'm hold ihe.po/icies
<br />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 Trusteebe held responsible for failure
<br />insurance:
<br />Pay 10
<br />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 for failure
<br />Or by Trustor to effect the insurance required hereunder. In the event
<br />of loss. Trustor shall give prompt notrce.by mail to the insurance
<br />canter and Beneficiary. Beheficiary may make proof of loss it not
<br />made Promptly or in proper fapn by Trustor. All: policies of insurance and any and all refunds of uneamed.premums
<br />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 />ofsale .contained herein, or in the event of-foreclosure,
<br />all right. Vie and interest of Trustor in and to any insurance policy then in force
<br />shal /pass To Me:purchaserat thetrustee•s sale.or foreclosure sale. In case of any loss. the insurance proceeds
<br />may, at the option at
<br />Beneficiary, be applied by Benefierary n
<br />upon the indebtedness. or any part thereof. and in such order and amount as.Beeficiary may
<br />determine: or said insurance proceeds- at option of Beneficiary,
<br />may either be used in replactng or restoring the Trust Property
<br />partially or totally destroyed to a condition satisfactory to $eneticiary. or said insurance proceeds, or any portion (hereof, may be
<br />released to Trustor. Unless Beneficiary and Trustor otherwise in
<br />agree 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
<br />exercise of the power of sale or other foreclosure, all right. title and interest of
<br />Trustor in and 10 any insurance proceeds payable as a result damage
<br />of to the Trust Property prior to file sale or acquisition shall pass
<br />to Beneficiary and shall be applied first to the costs and
<br />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
<br />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
<br />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 t ofabandon
<br />Me Trust Property. Trustor will not remove any fixtures
<br />cons6tukrrg the Trust Property unless the same are immediately replaced with
<br />like property subject to the ken and security interest of this Deed of Trust and of at least equal l
<br />value and uri /ity . Trustor will
<br />comply with all present and future ordinances, regulations and requirements of an
<br />and to the occupancy and use thereof If this Deed Trust nplan are applicable
<br />A
<br />of is on a unit in a condominium or ed development. Trustar shall
<br />perform all of Trustor's obligations under the declarations or
<br />covenants creating or governing the condominium or the planed unit
<br />development. the bylaws and regulations of the condominium or planned unit development, and the
<br />constituent documents.
<br />9. Inspection. Beneficiary or its agents may, at all reasonable times, enter upon the Trust Property far the
<br />Purpose of inspection.
<br />Beneficiary shall have no duty to make such inspection and shall not be liable to Trustor or to any person in possession d r, makes or
<br />fails to make any sucn Inspection.
<br />70. Protection of Security. If Trustor tails 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
<br />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 convenants and agreements.
<br />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 />mterest including, but not limited to. disbursement
<br />of reasonable attorney fees and entry upon the Trust Property to ' repairs. Any
<br />amounts disbursed by Beneficiary pursuant to this paragraph 10, with interest thereon, shall
<br />constitute indebtedness of Trustor
<br />secured by this Deed of Trust. Unless Trustor and Beneficiary agree to other terns of payment, such amounts shall be.payabie upon
<br />notice from Beneficiary to Trustor requesting thereof,
<br />payment and shall bear interest from the date of disbursement at the detault rate,
<br />if any, setforth in the Note, or Otherwise at the highest rate permitted by law Nothing contained this
<br />in 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
<br />to perform any and all covenants and agreements to be
<br />performed by Trustor as herein provided Beneficiary shall. at its option, be subrOgated to any encumbrance,
<br />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 for
<br />security this Deed of Trust
<br />71. Condemnation. The proceeds of any award or claim for damages,
<br />direct or consequential, in connection with any condemnation, or
<br />other taking of the Trust Property, or any part thereof, or for conveyance in Ifeu of or in anticipation of condemnation,,
<br />assigned to
<br />are hereby
<br />and shall be pard to Beneficiary. Trustor will file and prosecute, in good faith and with due diligence, its claim for anv such
<br />award or payment, and will cause the same to be collected and paid to Beneficiary, and,
<br />snoulO r fall 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 and retain the proceeds. If the Trust
<br />Property is abandoned by Trustor, or after notice by Benelrciary ;o Trustor
<br />Met Me condemnor otters to make an award or settle a claim for damages. Trustor fads to respond
<br />to Beneficiary within thirty (30) days
<br />after the date such notice is malted. Beneficiary Is authorized !o 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
<br />including attorney fees, which may have
<br />been incurred by Beneficiary in the collection thereof, at the sole discretion of Beneficiary be released Trustor.
<br />to applied to
<br />restoration of Trust Property, or applied to the payment of the Indebtedness. Unless Beneficiary and Trustor otherwise agree r, writing
<br />any such application of proceeds to Indebtedness
<br />.
<br />shall not extend or postpone the due dare of the Note or the payment of any
<br />Installments called for thereunder.
<br />72 Trustor Not Released. Extension of the lime for payment or modilication of any amortization of the Indebtedness granted by Beneficiary
<br />to any successor In interest of Trustor shall not
<br />operate to release. in any mariner the habrltty of Trustor and Trustor s successors m
<br />Interest. Beneficiary shall not be required to commence proceedings against such
<br />.successor or refuse to extend time for payment ;rr
<br />Otherwise modify amortization of the MOebredness by reason of any demana made by 'rustor and 'rustor s successors
<br />on interest.
<br />73 Financial information Libor, request at Beneficiary, 'rustor will provide to Beneficiary within ninety i()0 days o! the dose ul lac^ hscar
<br />year Of Trustor the consolidated balance
<br />sheet and staternenl of earnings of Trustor and any ano air quarantors ;)t trr indebteariescs
<br />secured hereby. it any, alto will provide and deliver to Beneficiary such other frnanciar infonnatiar'
<br />'A'i
<br />may reasonably request ham time to time and r� sir •r n,2rn•r s E7er+r4 „nary
<br />14 Financiai Goverrants In addition to any other Fnanctai covenants i± 'usto• mane in any iihe ague.. n• . ,;. - {.ri
<br />Trustor shah comply win, and shall Buse art• and -.
<br />+' aft ;7uararno•s ut the ra redtPdaes�. t
<br />C' With the 1nbc.wi +rg tiaara.ra: �crvenan's • 11?,n r)arag'aU shaii "Y aP.p, r' ; _ri.r al.. ,. {` •gJ.. 'rents
<br />iarh herein ;
<br />rig t:
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<br />ri of a 'es mF
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