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<br />08.06.2008
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<br />200807161
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<br />File No. 16-471
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<br />in any way as relieving, modifying, or extending Trustor's covenant to pay any such
<br />I mposition at the time and in the manner provided in this Section 1.10, unless Trustor
<br />has given prior written notice to Beneficiary of Trustor's intent to so contest or object to
<br />an Imposition, and unless, at Beneficiary's sole option, (i) Trustor shall demonstrate to
<br />Beneficiary's satisfaction that the legal proceedings shall conclusively operate to prevent
<br />the sale of the Mortgaged Property, or any part thereof, to satisfy such Imposition prior to
<br />final determination of such proceedings; (ii) Trustor shall furnish a good and sufficient
<br />bond or surety as requested by and satisfactory to Beneficiary; and (iii) Trustor shall
<br />have provided a good and sufficient undertaking as may be required or permitted by law
<br />to accomplish a stay of such proceedings.
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<br />(e) Trustor shall deposit with Beneficiary on the first business day of each
<br />and every calendar month, until all Secured Obligations are paid in full, an amount equal
<br />to one-twelfth of the annual Impositions estimated by Beneficiary to be next due on the
<br />Mortgaged Property. Trustor further agrees to cause all bills, statements or other
<br />documents relating to Impositions to be sent or mailed directly to Beneficiary. Upon
<br />receipt of such bills, statements or other documents, and provided Trustor has deposited
<br />sufficient funds pursuant to this Section 1.10(e), Beneficiary may pay such amounts as
<br />may be due thereunder out of the funds so deposited. If at any time and for any reason
<br />the funds so deposited are or will be insufficient to pay such amounts as may then or
<br />subsequently be due, Beneficiary shall notify Trustor, and Trustor shall immediately
<br />deposit an amount equal to such deficiency with Beneficiary. In its sole discretion,
<br />Beneficiary may waive Trustor's obligation to comply with the deposit requirements of
<br />this Section 1.10(e), provided that Beneficiary may at any time, in its sole discretion,
<br />rescind such waiver by notice, whereupon Trustor shall resume depositing such
<br />amounts in the manner required herein.
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<br />Notwithstanding the foregoing, nothing contained herein shall cause Beneficiary
<br />to be deemed a trustee of such funds or to be obligated to expend any amounts in
<br />excess of the amount of funds so deposited pursuant to this Section 1.10(e). Beneficiary
<br />may impound or reserve for future payment of Impositions such portion of such
<br />payments as Beneficiary may in its absolute discretion deem proper, applying the
<br />balance on the Secured Obligations. If Trustor fails to deposit sums sufficient to fully
<br />pay such Impositions at least thirty (30) days before delinquency thereof, Beneficiary
<br />may, at Beneficiary's election, but without any obligation so to do, advance any amounts
<br />required to make up the deficiency, which advances, if any, shall be secured hereby and
<br />shall be repayable to Beneficiary as herein elsewhere provided, or at the option of
<br />Beneficiary, Beneficiary may, without making any advance whatever, apply any sums
<br />held by it upon any Secured Obligation.
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<br />(f) Trustor covenants and agrees not to suffer, permit or initiate the joint
<br />assessment of the Real Property and Personal Property, or any other procedure
<br />whereby the lien of the Real Property taxes and the lien of the Personal Property taxes
<br />shall be assessed, levied or charged to the Mortgaged Property as a single lien.
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<br />(g) If requested by Beneficiary, Trustor shall cause to be furnished to
<br />Beneficiary, at Trustor's expense, a tax reporting service covering the Mortgaged
<br />Property of the type and duration and with a company satisfactory to Beneficiary.
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<br />Section 1.11. Utilities. Trustor shall pay when due all utility charges which are incurred
<br />for the benefit of the Mortgaged Property or which may become a charge or lien against the
<br />Mortgaged Property for gas, electricity, water or sewer services furnished to the Mortgaged
<br />Property and all other assessments or charges of a similar nature, whether public or private,
<br />affecting the Mortgaged Property or any portion thereof, whether or not such taxes,
<br />assessments or charges are liens thereon.
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<br />Section 1.12. Actions Affectina Mortaaaed Property. Trustor shall appear in and
<br />contest any action or proceeding purporting to affect the title of Trustor in the Mortgaged
<br />Property or security hereof or the rights or powers of Beneficiary or Trustee; and Trustor shall
<br />pay all costs and expenses, including cost of evidence of title and attorneys' fees, in any such
<br />action or proceeding in which Beneficiary or Trustee may appear.
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<br />Section 1.13. Actions bv Beneficiary and/or Trustee to Preserve Mortaaaed
<br />Property. Should Trustor fail to make any payment or to do any act as and in the manner
<br />provided in this Deed of Trust, Beneficiary, in its sole discretion, without obligation to do so and
<br />without notice to or demand upon Trustor and without releasing Trustor from any Secured
<br />Obligation, may make or do the same in such manner and to such extent as Beneficiary may
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<br />Deed of Trust, Security Agreement and Assignment of Rents, Page 8
<br />#553480-v1
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