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<br />84~~.i 006240
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<br />2. Title. Trustor is the owner of the property and has
<br />the right and authority to execute this Deed of Trust in respect
<br />to the property.
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<br />3. Taxes and Assessments. To pay, when due, all taxes,
<br />special assessments and all other charges against the property,
<br />before the same become delinquent.
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<br />4. Insurance. To keep the improvements now or hereafter
<br />located on the real estate described herein insured against
<br />damage by fire and such other hazards, including loss by flood if
<br />in the boundaries of a special flood hazard area, as BeneYiciary
<br />may require, in an amount at least equal to the unpaid indebted~
<br />ness evidenced by the Deed of Trust Note secured hereby with loss
<br />payable to Beneficiary. In case of loss under such policies,
<br />Beneficiary is authorized to adjust, collect and compromise, in
<br />its discretion, all claims thereunder and, at its sole optiol'l. is
<br />authorized to either apply the proceeds to the restoratio~ of the
<br />property or upon the indebtedness secured hereby, but payments
<br />required by the note shall continu", until the sums secured hereby
<br />are paid in full. Trustor shall i:'J:""l.7 sh to B(';neficiary a certifi-
<br />cate evidencing the fact that "".':. in:,;ura."lce has been procured
<br />and that it is in fuL, lorce ci"d effect, and further that the
<br />same cannot be terminated without reasonable notice to the
<br />Beneficiary .
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<br />5. Repair, Maintenance and Use. To promptly repair,
<br />restore or rebuild any buildings or improvements now or hereafter
<br />on the property; to keep the property in good condition and
<br />repair, without waste and free from mechanics or other liens not
<br />expressly subordinated to the lien hereofr to not make, suffer or
<br />permit any nuisance to exist nor to diminish or impair the value
<br />of the property by any act or omission to act; and to comply with
<br />all requir.ements of law with respect to the property.
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<br />6. Condemnation. III the event the property, or any part
<br />thereof, shall be taken by eminent domain, Beneficiary is
<br />entitled to collect and receive all compensation which may be
<br />paid for any property taken or for damages to property not taken,
<br />and Beneficiary shall apply such compensation, at its option,
<br />either to a reduction of the indebtedness secured hereby or to
<br />repair and restore the property so taken.
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<br />7. Performance by Beneficiary. Beneficiary may, but shall
<br />have no obligation to, do any act which Trustor has agreed but
<br />failed to do, and Beneficiary may also do any act it deems
<br />necessary to protect the lien hereof. Trustor agrees to repay,
<br />upon demand, any sums 50 expended by Beneficiary for the above
<br />purposes, and any sum so expended by Beneficiary shall be added
<br />to the indebtedness secured hereby and become secured by the lien
<br />hereof. Beneficiary shall not incur any personal liability
<br />because of anything it may do or omit to do hereunder.
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<br />8. Assignment of Rents. Beneficiary shall have the right,
<br />power and authority during the continuance of this Deed of Trust
<br />to collect the rents, issues and profits of the property and of
<br />any personal property located thereon with or without taking
<br />possession of the property affected hereby, and Trustor hereby
<br />absolutely and unconditiop~lly assigns all such rents, issues and
<br />profits to Beneficiary. Beneficiary, however, hereby consents to
<br />Trustor's collection and retention of such rents, issues and
<br />profits as they accrue and become payable, so long as Trustor is
<br />not, at such time, in default with respect to payment of any
<br />indebtedness secured hereby, or in the performance of any agree-
<br />ment hereunder. If any event of default described hereafter in
<br />respect to this Deed of Trust shall have occurred and be con-
<br />tinuing, Beneficiary, as a matter of right and without notice to
<br />Trustor or anyone claiming under Trustor, and without regard to
<br />the value of the trust estate or the interest of the Trustor
<br />therein, shall have the right to apply to any court having juris-
<br />diction to appoint a receiver of the property.
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