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I 84--002800 r respective interests may appear and shall not be cancellable with- out at least thirty (30) days prior written notice to the Prior Lienholders and Beneficiary. Grantor shall pay all premiums on such policies on or before the date such premiums become due and shall upon request by Beneficiary furnish to Beneficiary evidence of such payments. Proceeds payable by reason of loss covered by such insurance shall be paid and applied in the manner required by the Prior Lien Instruments and the Security Agreement. all appropri- ate. Certificates or policies of insurance, abstracts. title com~ mitments and policies and other title evidence, shall be delive~ed to and held by the appropriate Prior Lier~older or if no Prior Lien Instrument contains such a requirement or if all Prior Lien Instruments have been discharged, by Beneficiary, upon request of such parties. Upon foreclosure of this Deed of Trust or other acquisition of the Mortgaged Premises or any part thereof under any Prior Lien Instrument or this Deed of Trust said policies. abstracts, title commitments and pOlicies and other title evidence shall become the absolute property of the Prior Lienholders and the Trustee and Beneficiary as their interests may appear. 3. Grantor shall pay. when due. all taxes and assessments of every type or nature levied or assessed against the Mortgaged Premises or upon the Trustee's or the Beneficiary's interest therein, and any claim, lien or encumbrance against the Mortgaged Premises and at the request of the Beneficiary shall furnish to the Bene- ficiary, prior to the date when such required payments would become delinquent, certificates or receipts of the proper office showing full payment of all such taxes and assessments. 4. To the extent not payable to a Prior Lienholder under a Prior Lien Instrument, if now or here~fter demanded, Grantor agrees to pay to Beneficiary additional monthly installments equal to one-twelfth of such an amount as Beneficiary shall estimate to be required annually, for the purpose of accumulating a fund with which to pay, when due, taxes, assessments and premiums on insurance policies covering the Mortgaged Premises. 5. Upon failure of Grantor to maintain insurance. pay taxes and asssements, or furnish certificates or receipts as here- inbefore provided, Beneficiary may, at its option. procure such insurance, pay Buch taxes and assessments, redeem the Mortgaged Premises from any tax sale and procure appropriate certificates or receipts for such payments, and Grantor shall upon demand pay to Beneficiary all sums which it may have so paid or become Obligated for, together with interest on all such sums from the date the same were paid at a rate equal to the rate provided for overdue payments in the Crude Oil Sales Agreement payable to Beneficiary, but not in excess of the maximum lawful rate in effect at the time such sums were paid. For payment of such sums and interest this Deed of Trust shall stand as security in like manner and effect as for payment of the Debt. In the event the Beneficiary elects to advance insurance premiums, taxes or assessments. or redeem the Mortgaged Premises from tax sale, the receipt of an official of -5- L L L I L-.