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84 --~iG0722
<br />of this Trust Deed and of at least equal value and utility. Trustor will comply with
<br />all present and future ordinances, regulations and requirements of any governmental
<br />body which are applicable to the Property and to the occupancy and use thereof. If
<br />this Trust Deed is on a unit in a condominium or a planned unit development, Trustor
<br />shall perform all of Trustor's obligations under the declarations or covenants creat-
<br />ing ar governing the condominium or planned unit development, the bylaws and, regu-
<br />lations of the condominium or planned unit development, and the constituent documents..
<br />5. Inspection. Lender or its agents may, at all reasonable times; enter
<br />upon the Property for the purpose of inspection. Lender shall have no duty to make
<br />such inspection and shall not be liable to Trustor or to any person in possession if
<br />it makes or fails to make any such inspection.
<br />6. Protection of Lender's Security. If Trustor fails to perform any of
<br />the covenants and agreements contained in this Trust Deed or if any action or pro-
<br />ceeding is commenced which does or may adversely effect the Property or the interest
<br />of Trustor or Lender therein or the title of Trustor thereto, then Lender, at its
<br />option, map perform such covenants and agreements, make such appearances, defend
<br />against and investigate such action or proceeding, and take such other action as
<br />Lender deems necessary t.o protect its interest including, but not limited to, dis-
<br />bursement of reasonable attorney`s fees and entry upon the Property to make repairs.
<br />Any amounts disbursed by Lender pursuant to this paragraph 6, with interest
<br />thereon, shall become additional indebtedness secured by this Trust Deed. Unless
<br />Trustor and Lender agree to other terms of payment, such amounts shall be payable
<br />upon notice from Lender to Trustor requesting payment thereof, and shall bear inter-
<br />est from the date of disbursement at the rate payable from time to time on outstan-
<br />ding principal under the note (if more than one note, under the note bearing the
<br />highest interest rate). Nothing contained in this paragraph 6 shall require Lender
<br />to incur any expense or take any action hereunder.
<br />Trustor irrevocably authorizes and empowers Lender to enter upon the Prop-
<br />erty as Trustor's agent and, in Trustor's name or otherwise to perform any and all
<br />covenants and agreements to be performed by Trustor as herein provided. Lender
<br />shall, at its option, be subrogated to any encumbrance, lien, claim or demand and to
<br />a21 rights and securities for the payment thereof paid or discharged by Lender under
<br />the provisions hereof and any such subrogation rights shall be additional and cumu-
<br />lative security for [his Trust Deed.
<br />7. Gandemnation. The proceeds of any award or claim for damages, direct
<br />or consequential, in connection with any condemnation or other taking of the Prop-
<br />erty, or part thereof, or for conveyance in lieu of or in anticipation of condemna-
<br />tion, are hereby assigned to and shall be paid to Lender. Trustor will file and
<br />prosecute, in good faith and with due diligence, its claim for any such award or
<br />payment, and will cause the same to be collected and paid to Lender, and, should it
<br />fail to do so, Trustor irrevocably authorizes and empowers Lender, in the name of
<br />Trustor or otherwise, to file, prosecute, settle or compromise any such claim and to
<br />collect, receipt fur and retain the proceeds If the Property is abandoned by
<br />Trustor, ar if, after notice by Lender to Trustor that the condemnor offers to make
<br />an award or settle a claim for damages, Trustor fails to cespond to Lender within
<br />thirty (30) days after the date such notice is mailed, Lender is authorized to col-
<br />lect and apply the proceeds in the manner indicated herein. The proceeds of any
<br />award or claim may, after deducting all reasonable costs and expenses, including
<br />attorney fees, which may have been incurred by Lender in the collection thereof, at
<br />the sole discretion of Lender, be released to Trustor, applied to restoration of the
<br />Property, or applied to the payment of [he Indebtedness.
<br />&. Trustor Nat Released. Extension of the time for payment or modifica-
<br />tion of any amortization of the Indebtedness granted by Lender Ca Borrower or any
<br />successor in interest of Trustor shall. net operate to release, in any manner, the
<br />liability of the Trustor, Borrower or Trustar's successors iu interest. Lender shall
<br />not be required to commence proceedings against such successor or refuse to extend
<br />time £or payment or otherwise modify amortization of the Indebtedness by reason of
<br />any demand made by the Truster, Borrower ar Trustor's successors in interest.
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