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<br /> . � �� 1d0553 . �
<br /> I'�":'�}'' � '~�, FIRE,CA8WILTY,ANO OTHER INBURANC�:Ta k�p ev��property ineured epeinet loss or dama�e by Q�e�nd dhar
<br /> rlak or risks whiCh,in the wle opfnian ai 8�nq1lql�ry�h,�at�i be inwred apainat,und�r policies ol inturance with loss
<br /> � ' ' ,.� paysble to Beneilclary in form,amqunt an�campsnt�e�Cq�ptable to 8sneliciary.3eid pollcies shall be deNvered to md
<br /> - � � � . �. �emain In poss�ssfon of Beneflciary ef turther esci�rily 1qc�falthful ps�formence of theseoblipatione,whichddiwry�hall
<br /> � , conatitute an assipnment by Trustor ta&�wflGfa�ry at+6i!(;riphta thereunder,includinp all return premiums;to deNvw to
<br /> � �� 8enetiaiary e policy or policfes renewing or extqn.dlM�q 1�ny expfrin�insurence with a recefpt ahowin�pranfums pald at
<br /> ' leaat thirty(30)deys befo�e expiratipn.If T�uQWc td�fll�t�so deliver any renewel policias,Beneifciary rtwy prpcure such _ __
<br /> . InsurAncs es it may etect end may make paymenR af p�r,@hniums thareon,which payment i�repayabte on demand.Nolth�r ��
<br /> � '` Truatee nor Beneficiary ahell be reapanaibt�far abtad�in�t or meintafninp 4uch tnsurance.Beneifciary,irom time to time, --
<br /> �- ~ " ° � mey fumish to any inaurance a�en�y or campa�y,or a�r other person,any i�formetion contained i�or exhacted iromany �-�. �� - '
<br /> � � �" �� insurence policy theretofore dellvered to E{enefl�ia.ry pursuant hereta,and any inbrmatfon conaerninp the loan secured __
<br /> , n� _ . ,; hereby.In no event and whethsr ar Rat defaUlA h�reu�der hes occurred shell Beneficiary,by the lact of approving,
<br />� { ��R, aacepling or obtaining such inauran�e,incur any�I�fjflf�y for the amount of suah Insurance,theform or leyal suffiaiency ot ___.
<br /> ^ i�surence contracts,solvency of inaurerg,w paym�r►t of losses by insure►s,and Truator hereby expressly assumes full -
<br /> responsibflity therefore and Heblllty,if srty,�h�r.�¢under.In the event of loss,Trustor ahall give immediate wrftten notice to �'°'�'"�� •�---
<br /> Beneficfary,and BoneNciary may,but ie n4t.abl(gated to,make proaf of lass if not made prampQy by Trustor.In oaseatany '�;�,;,f�;`�_'�i
<br /> ' IasstheamountcollectedundetenypvNRyofinsuranceonauchproperlymay.altheaplio�otlhe8eneticiary,beapp8ed �'°"`�r�x,:?�{"r",��ru.
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<br /> , by Beneiicfery upon any indebtednQSS an�,/or obligalion seCUred he►eby and in such orderand amount as 8eneiiCiary may ,h.��;,,5�i�j���:e�.^
<br /> determine;or said amour+t w any portion tha►eof ma ,at the option ot the Heneticiary,elth�r be used in r�placin or -`��'���'�k��"��'� -
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<br /> , , �, restoring the improveme�ts partially ar totally destroyed ta a condition satislactory to said 8eneficiary,or said amaunl o� .•�
<br /> ;�.:'�, , ' � '`�"�� . ,�' Any portion thoreof msy l�re ve9aasad ta ihe Trustor. In any auch event�either the Trust�nor the Beneticlary ah�ll be �
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<br /> '�. �i� � •,� s.;�,1;., � �.,,�;, abligated to see to tb�e prcy�er appUcatian thereof;n�r shaN the amount so released or used be deemed a paymeM a�any �_.-
<br /> , �': �;:',.,���'•:�•��-� indebtedneassecuredh�r�by.Suchapplicat+on,useand/arreleaseahallnotcureorwaiveanydefeultornoticeofdetautt 6 _ __ __
<br /> ' � '�{�:.,�`�;� ' hereunder or invalidate any act done purauant to such notice.Any unexpired insurance and aU returnable insurance - °�---
<br /> ,��.�;�: premiums shall inaure to ths C+enefit of,and pass to,the pu�chaser of the property coversd thereby ef any Trustee's sale held -��_�
<br /> � hereunde�.If said propert�r in sold pursuant to the power of sale contalned herein or pursuant to a�y decree of/orsclpsure, -
<br /> all right,Ntl�and intsreat of Trustor in and to the prxeeds of fire end other insurance policfes for damage p�ior to the sale, —
<br /> which proceeds ere nwt received prfor to the date of sald sale,ahall belong to 8eneticiary.Trustor will comply wilh such � ` -°
<br /> otherrequirementeandprovidesuchotherypeofinsurenceasBeneifcierymayrequfrefromtimetotimefortheproteclion � .
<br /> by insuranae of IhR Interest of the reopective parties hereto. °"'�--
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<br /> , • , TAXES AND OTHER SUM3 DUE:To pay,satiay and dfacherye,at least to ten(10)days before delinquency all general
<br /> and special lax�a and assesaments and other publlc char�es,and in no event leter then Ihe date such amounts become ��
<br /> due end to iunhar pay when due or requested:(1�all encumbrances,charges end ifens,wlth fnterest,on such properiy,or ` �.
<br /> _____ any partthereof,whlch ere,or appear to beneliciery,in Ita sole diacretlon,to be prior to or superlor hereto,(2)all costs,lees _
<br /> , and expenaes of this truat,whether or not described herein,(3)fees or cherges for any stetement regerding the ob8gation - •�•
<br /> secured herebp in any amount demanded by Beneficiary,not to exceeei the maximum amount allowed by law theretore at � _ . --��-
<br /> the dme when such request Is made,(4)such other charges as the Beneffciary may deem reasonable lor services rendered -����
<br /> by BeneN�lary and fumished at the request of Trustar o�any successor in interest to Trustor,(5)it such property Includes a �--
<br /> leasehold eat�te,all payments and obligations requfred ot the Trustor or his suCCessor in interest under the terms of the '-"'"'�'�°
<br /> instrument or instruments creating such leasehold,(8)all payments and monetary obligations required ot the owner of � "�e
<br /> suCh prqperty under any declaration of covenants, conditions and restrictions pertafning to such property or any � � • .��
<br /> . modification thereof;(7)all mortgage insurance or guaranty fees,premiums,or cha�ges of any nature pertaining to such � • ���,.:,,� �
<br /> ; • property.Truetoregrees to notify Beneficiary immedlately upon receipt by Trustor of noticeoi any i�crease in theassessed �
<br /> � value of suah property and agrees that Benetic�ary,in the name of Trustor,may coMest by eppropriate praceedfnys such ; .,y,,.,:.:�
<br /> inareese in assessmenl � `�;�-_
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<br /> • �• In the event of the passage o1 any law deducting irom the value of real property for the purposes af taxation any Ilen � �.+�••:.'
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<br /> thereon or changing in any way the laws for 1he taxatlon of deeds of trust or debts secured by deeds oNrust for state or lceal . . ._7*,;�a"
<br /> ' _ purposes.or the manner of the collection o1 eny such taxes,so as to aNect thfs Deed of Trust,the holder otthis Desd of Trust • . ��•-�-:
<br />' end of the obligations which It secures shall have the right to declere all sums secured hereby due as ot a date to be t •"`,A4i,`;'
<br />� specifisd by not less than 30 days'written notice to be given to Trustor by Beneiiciary;provided,however,that such �. � ; °
<br /> . election shell be inetfective if Trustor is permitted by law to pay the whole of such tax in addiffon to all other payments �.�. � �
<br /> �%:� requfred hereunder and if,p�ior to such speciffed date,does pay such tax and agrees to pay any such tax when hereafler �,.` °-'^"•"�=
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<br /> . , levled or assessed aqalnst such property,and such agreement shall constltute a modiflcation of this Deed of Trust. � . t;�,;,� .
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<br /> � I FUNDS FOR TAXES AND INSURANCE:I1 Beneficiary shall so request,Trustor agrees that there shall be added to the
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<br /> periodlcal payment required!o be made hereunder an amount estimated by Trusted to be sufflcient to enable Trustor to
<br /> � pay,at least thirty(30)days before dellnquency,all generel and special taxes.assessments,or other public charges �
<br /> against such property,the Promissory Note,or upon or on account ot the debt or the lien ot this Deed of Trust,together with
<br /> premiums for insurance required to be provided under this Deed of Trust and all mortgage insurance or guaranty fees,
<br /> � premiums or similar charges and no interest shall be payable to Trustor in respect thereof. Upon demand by Trustee,
<br /> { Trusfor ahall deHver to Trustee such additional su ms of money as arc�necessery to make up any deficiency in the amounts
<br /> necessary to eneble Trustee to pay any of the(oregoing items. .
<br /> SUMS ADVANCED TO�EAR INTEREST To pay immediately upon dem;�nd any sums advences or paid by Benefi�iary
<br /> or Trustee underany clauseor prov�s�on ol ims Deed of Trust Any such sums,until s�repaid,shall be secured hereby and
<br /> bear inlerest from the d�te advanced or pafd at the same rate as set forth in such Promissory Note and shall be Secured by
<br /> � thfs Deed ot Trust.
<br /> 1 ASSIGNMENT OF DEPOSITS:That as add�tional secunty il this be a construction loan, Trustor hereby transters and
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<br />� • aua�yiiv�v vo�v�w�ai� vv��ny iv�,u�nru�wc v�nraav ��uaw.nu iiy��a,auo aini i1�iC10.7i IV t71ir p11Y q11 111V111C,9 UC�lVAIICU UY ..
<br /> Trustor or deposlted on behalf ot Trustor with t�ny city,cuunty,public body or agency,sanitery district,gas and/or electnr
<br /> company,telephone company and any othor body oragency,for the installation or to secure the installation of any uhlityby
<br /> Trustor,pertaining to this property.
<br /> • FAILURE OF TRUSTOR TO COMPLY WITH DEEDOF TRUST:In theevent Trustor should fail to make any payment,orlo
<br /> � do any act as provided in this Deed of TrusL or fail to perform any obligation secured by this Deed of Trust,or do any act
<br /> Trustor agreed not to do,Beneliciary,but wlthout obl igalion so lo do and without notice to or demand upon Trustor and
<br /> without releasing Trustor from any obllgation hereotand without contesting the validity or amount of the same,may(a)pay,
<br /> , make or do the same in such manner and to such extent as it may deem necessary to protect the security he�eot,
<br /> Beneficlary being authorized to enter upon such property for such purposes, and (b) pay, purchase, contest or
<br /> . compromise any encumbrance,charge or lien,which in its judgement fs or appears to be prior or superior hereto,and(c)
<br /> in exercising any such power,pay necessary costs,fees,nnd expenses,employ counsel and pay counsel's reasonabie
<br /> ' fees.Trustor agrees to repay any arnount so expended on demand of Beneficic�ry. •
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