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<br />mental and non-gavernmemal charges of Gke nature are hereinafter referred to as "Imp~sitions't provided, haw•
<br />ever. that if. h} [:rw, :urv cut h inyr+:;iri++n is payahh•. *,r m:ty :u rtx +gtti,m of the taxp:n•cr he paid, itt rnstallmcnls,
<br />'Crus[or may pay the same together ;vith any actrurd inleres[ t,r. [he unpaid bai2nce of such Impositicxt in
<br />installments as the same become due and before any fine.'penalty. interest or cost may be added thereto for the
<br />nonpayment of anv such instatlmen[ and interest. -
<br />(b) If at any time after the date hereof there shall be assessed or imposed (i) a tax or assessma.a on the Trust
<br />instate in lieu of or in addition to the Impositions payable by Trustor pursuant to subparagraph Ea) hereof, or (~i) a
<br />license fcc, taz ar assessment imposed on 8enefieiary and measured by or based in whole or in part upon the
<br />amount of the outstanding obligations secured hereby, then all such taxes, assessments or fees shall be deemed to
<br />be included within the [errrt "Impositions" as defined in subparagraph (a) hereof, and Trustor shad pay and'
<br />dischaege the same as herein provided with respect to the payment of Impositions or, at [he option of Beneficiary,
<br />all obligations secured hereby together with all accrued interest thereon, shall immediately become due and
<br />payable. Anything to [he contrary herein notwithstanding, Frustor shall have no obligation to pay any franchise,
<br />estate, inheritance, income, excess profits or similar tax levied on Beneficiary or on the obligations secured.
<br />hereby.
<br />(c) Subject to the proi•isions of subparagraph (d) of this Section 1.03, Trustor covenants to furnish Bene-
<br />ficiary within thirty (30) days after the date upon which any such Imposition would become delinquent official
<br />receipts of the appropriate taxing authority, ur other proof satisfactory to Beneficiary, evidencing the payments
<br />thereof.
<br />~dt Trustor shat! have the right before any deiinquencv occurs to contest or objecI to the amount or validity
<br />.,. any such Imposliion by appropriate Iegai proceedings, but this shall not be deemed or construed in any way as
<br />relieving, modifying or extending Trustor's covenant to pay any such Imposition at the time and in the manner
<br />provided in this Section 1.08, unless Trustor has given prior written notice to Beneficiary of Trustor's intent to so
<br />contest or object to an Imposition, and unless, at Beneficiary's sole opdan, (i) Trustor shat} demonstrate to
<br />Beneficiary's satisfaction that the legal proceedings shall conclusively operate to prevent the sale of the Trust
<br />Estate, or any part thereof, to satisfy such Imposition prier to final determination of such proceedings: or (ii)
<br />Trustor shall furnish a good and sufficient bond or surety as requested by and satisfactory to Beneficiary: or (iii)
<br />Trustor shall have provided a good and sufficient undertaking as may be required or permitted by law to ac-
<br />complish allay of such proceedings.
<br />(e) At the request of Beneficiary, Trustor shall pay to Beneficiary, on the day monthly installments of prim
<br />cipat and interest are payable under the Note, until the Note is paid in full, an amount equal to one•twelfth of the
<br />annual impositions reasonahl}' estimated h} Bcnefician~ n, pay the insntliment of taxes n,st dun on the ~rrust
<br />Estate. In such event Trustor funher agrees to cause ail bills, statements or other documents relating to Im-
<br />positions to be sent or mailed directly to Beneficiary. Upon receipt of such bills, statements or other documents,
<br />and providing Trustor has deposited sufficient Funds with Benetciary pursuant ro this Section I.OB, Beneficiary
<br />shall pay such amounts as may be dot thereunder out of the iunGs so deposited with Beneficiary. If at any time
<br />and for any reason the funds deposited with Beneficiary are or will be insufficient to pay such amounts as may
<br />then or subsequently he due, Benr,Ficiary shall notify Truster and Trustor .hall tmmcdiately deposit an amount
<br />equal to such deficiency with Benefictary. Notwithstanding the iuregarrtt, nothing cumainrd herein shalt cattle
<br />Beneficiary to be deemed a truster of said funds or to be obitgased w pay any amounts in excess of the amount of
<br />funds deposited with Betscficiary purloin..., this Section, . 'uQ_ Beneficiary sha'1 not be ohtigad tc, pay ar allow
<br />any intcrrst an any sums held b_v @enefciary pending disbursement ur application hereunder, and Be;te_ficiary
<br />may impound or reserve for future payment of Impositions such patron ot`such payments as Beneficiary may in
<br />its absolute discretion diem proper, applying the halance on the principal of or interest on the obligations
<br />secured hereby- Should Trustor fail to deposit wuh Benefictary (exclusive of that portion of said payments which
<br />has been applied by Beneficiary nn the principal of or interest on :he indrbtrodness secured by the Loan tn•
<br />suumrnts) sums sutTcient to tufty pay such tmposrtions a[ least thirty (301 days before delinquency thereof,
<br />Beneficiary may, at Broeficiary's elecuun, but without any obitgation so to do, advance any amounts regwreJ to
<br />make up the detictency, which advances, if any, shall 6e srcurcd hereby and shall be repayable to Benefictary as
<br />herein rlsewherc prvwtded, or at the apron of Beneficiary the latter may, without making any advance whatever,
<br />apply any sums held by x uoan any obliga[ton of the Trustor secured hereby. Should any default occur or exist un
<br />tht part of the Trustor to the payment ar performance of any of Trustar's andlor any guaranwr's obligations un•
<br />der the ternts of the L.,an Instruments, Beneficiary may, at any time at Beneficiary's opton, apply any sums ur
<br />amounts in its hands received pursuam hereto, or as rents or income of the Trust Estate ur othrrwtse. upon any
<br />indebtedness or ubltganun of the Trustor secured hereby en suettmanner and order as Benefictary may elect. The
<br />receipt, use ar application of any such sums paid by Trustor r> Beneficiary hereu tder shall nor be construed to af•
<br />feet the matuntp of any mdebtedntss secured by this Deed of Trust or any of the. tights ur powers of Benrticiary
<br />or Truster under the terms ut the Luau Instruments ur any of the ubltgations of Trustor andlor any guarantor un~
<br />der this Loan .nstrument
<br />{fl Trustor cavenams and agrees not to suffer, pcrtntt ur tmtiate the iotnt assessrnrnt of the rent and per
<br />lanai property. ur any other procedure whereby the lien of ~hr real property taxes and the hie of the prrsonaV
<br />ptoprrty taxes shall br assessed, Icvyed or charged to the Trust Estate as a single hen.
<br />(g) II reyrtcstrd by Beneficiary. Trustor shall cause to be furnished to Bencficiarv a tax rcporttng service
<br />covering the Trust Estate of the sype, durratiun and with a company satisfactory to Benrticiary.
<br />L04 hilties. To pay when due alt utility charges which are inrurrrd by Tntstot 1'ur the 1+rnefit of rhr Trust
<br />Estate or which ma} brcume a ehargr ur lien against the "Crust E•tatr ;ur :;::>, clectr~cih. tt:ner ur •ewrr srnice,
<br />iurnsshrd to the Trust Estate and all otber asszsstncros ur charres of .t ~imilur ituttua. !nchulutg ~cwrr a>c Ice,,
<br />whether pubiia or pri.at::. utfrctity; ihr'frust Estate or am portion thcr:rof, whether or rtui ~•u.h ciae~, assrs.rurmt
<br />c?r charges are ;~.ns ihe:c-on.
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