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<br />84- 005508
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<br />before 30 days prior to its expiration date, Trustee or Beneficiary may pro-
<br />cure such insurance in accordance with the provisions of paragraph 1.16
<br />hereof. Trustor shall deliver to Beneficiary the original policies of insurance
<br />&.11d renewals thereof or memo copies of such policies and renewals thereof.
<br />Fsilure to furnish such insurance by Trustor, or renewals as required here-
<br />under shall, at the option of Beneficiary, constitute a. default.
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<br />\. U J Trustor, upon obtaining knOwledge of th~ institution of any y:-O-
<br />ceedings for the condemnation of the Premises and Improvementspr'S4Y
<br />portion thereof or knowledge of any casualty damage to the Property' or
<br />damage of any other kind, will immediately notify Beneficiary. . Beneficiai'y
<br />may participate in any proceedings and join Trustor in adjusting any loss
<br />covered by insurance. All compensation, awards, proceeds, damages,cl~l3f
<br />rights of action and payments to which Trul3tor may become entitledsballbe
<br />paid over to Beneficiary. Beneficiary shail have the sole and abaolutedis'-'
<br />cretion, notwithstanding the fact that the security given hereby Illtlyn()tbe
<br />impaired by a partial condemnation to apply any part or all of the amount
<br />collected in connection with any condemnation proceeding: (1) upon any
<br />indebtedness secured hereby and in such order as Beneficiary may determine,
<br />or (ii) without reducing the indebtedness secured hereby, to the' reimburse-
<br />ment of Beneficiary for expenses incurred by it in the restoration of the
<br />Property. Such application shall not cure or waive any default or notice 'of
<br />default hereunder or invalidate any act done pursuant to such notice. Bene-
<br />ficiary shall be under no obligation to ':'lestion the amount of any compen.,.
<br />sation, awards, proceeds, damages, d,>h";,. rights of action or payments, and
<br />may accept the same in the amount h' .~.'llcil the same sha,ll be paid.
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<br />(c) Beneficiary shall be entitled, at its option, to commence, appear in
<br />and prosecute in its own name any insurance or condemnation action or pro-
<br />ceedings.
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<br />1.05. Taxes. Assessment and Charges. (a) Trustor. from time to time
<br />when the same shall become due, will pay and discharge all taxes of every
<br />kind and nature, including real and personal property taxes and income,
<br />franc!l.ise. withholding, profits and gross receipts taxes, all general and
<br />special assessments, including assessments on all water and sewer rents and
<br />charges. skywalks, vaults and all other public charges whether of a like or
<br />different nature, imposed upon or assessed against Trustor or the Property
<br />or any part thereof or upon the Rents and Profits of the Property including
<br />the real estate described in Exhibit "AU attached hereto. or arising h. respect
<br />of the occupancy, use or possession thereof. Trustor will deliver to Bene-
<br />ficiary all notices and receipts evidencing the payment of all such taxes,
<br />assessments, levies, fees. rents and other public charges imposed upon or
<br />assessed against Trustor or the Property or the Rents and Profits thereof.
<br />Trustor shall pay all taxes, assessments, levies, fees, rents and other public
<br />charges which may be levied upon Beneficiary's interest herein or upon this
<br />Deed of Trust without regard to any law that may be enacted imposing pay-
<br />ment of the whole or any part thereof upon the Beneficiary..
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<br />(b) Beneficiary may. at its option to be exercised by thirty (30) days'
<br />written notice to Trustor, require the deposit by Trustor, at the time of each
<br />payment of an installment of interest or principal under the Note, of (i) an
<br />additional amount sufficient to discharge the obligations under Sections 1.04
<br />and 1.05(a) hereof when they become due. The determination of the amounts
<br />so payable and of the fractional parts thereof to be deposited with Bene-
<br />ficiary, so that the aggregate of such deposits shall be sufficient for this
<br />purpose, shall be made by Beneficiary in its sole discretion. Said amounts
<br />shall be held by Beneficiary without interest and applied to the payment of
<br />the obligations in respect of which said amounts were deposited in such order
<br />or priority as Beneficiary shall determine, on or before the respective dates
<br />on which the same or any of them would become delinquent. If one (1) month
<br />prior to the due date of any of the aforementioned obligations the amount
<br />then on deposit therefor shall be insufficient for the payment of such obli-
<br />gation in full, Trustor within ten (10) days after demand shall deposit the
<br />amount of the deficiency with Beneficiary. Nothing herein contained shall be
<br />deemed to affect any right or remedy of Beneficiary under any other provi-
<br />sion of this Deed of Trust or under any statute or rule of law to pay any
<br />such amount.
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