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201007917
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Last modified
1/11/2011 2:23:52 PM
Creation date
10/26/2010 4:15:42 PM
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DEEDS
Inst Number
201007917
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20�00�9�7 <br />Section 3.07. Maintenance of Trust Estate. The Grantor will at all times maintain and <br />presexve the Trust Estate and each and every material part and parcel thereof in good repair, <br />working order and condition, ordinary wear and tear excepted, and in material cornpliance with <br />all applicable laws, ordinances, regulations, and requirements, and will from tirne to time make <br />all needed and proper r�pairs, renewals, and replacements, and useful and proper alterations, <br />additions, betterments and unprovements, and will, subject to contingencies beyond its <br />reasonable control, at all times keep its plant and properties in continuous operating condition <br />and use all reasonabl� diligence to furnish the consumars served by it through the Trust Estate, or <br />any part thereof with adequate services furnished by the Grantor. <br />Section 3.p8. Insurance; Restaration of Damaged Trust Estate. The Grantor will <br />maintain insurance as required by the Debt Instruments. In the event of damage to or the <br />destruction or loss df any portron of the Trust Estate, unless the Beneficiary shall vtherwise <br />agree, the Grantar shall replace ar restore such damaged, destroyed or lost portian so that the <br />Trust Estate shall be in substantially the same condition as it was in priar to such damage, <br />destruction or loss. Frovided no Potential Default or Event of Default then exists, th� <br />Bene�ciary shall provide to the Grantar any insurance proceeds received by the Beneficiary <br />upon such reasonable terms and cnnditions as the Beneficiary may require to eilsure that such <br />praceeds are used for the foregoing purpose and that such required replacement or restoration <br />will be completed. The Grantor shall replace the lost portion of the Trust Estate or shall <br />commence such restoration pramptly after such damage, destruction or loss shall have occurred <br />and shall complete such replacement or restoration as expeditiously as practicable, and shal] pay <br />or cause to be paid, out of the proceeds af such insurance or otherwise, all costs and expenses in <br />cQnnection therewith so that such replacement or restoration shall be so completed that the <br />portion of the Trust Estate sa replaced or restored shall be free and clear of all Liens, except for <br />Permitted Encumbrances. At the request of the Beneficiary, the Grantor shall exercise such <br />rights and remedies which it may have under any insurance policy or fidelity bond and which <br />may be designated by the B�neficiary, and the Grantor hereby irrevocably appoints the <br />Beneficiary as its agent to exercise such rights and remedies under any insurance policy or bond <br />as the Bene�ciary may choose, and the Grantor shall pay all reas�nable costs and expenses <br />incurred by the Bene�ciary in connection with such exercise. <br />Section 3.09. Bene�ciary Right to Expend Money to Protect Trust Estate. From <br />time to tirne, the Beneficiary rnay, in its sole discretion, but sh,all not be obligated to, advance <br />funds on behalf of the Grantor, in order to �nsure compliance with any covenant or agreexnent of <br />the Grantor made in or pursuant ta this Deed of Trust or any of the Debt Instruments, to preserve <br />or protect any right ar interest of the Beneficiary in the Trust Estate or under or pursuant to this <br />Deed of Trust or any of the Debt Instruments, including, without lirnitation, the payment of any <br />insurance premiums ar taxes and the satisfaction ar discharge of any judgrnent or any Lien upon <br />the Trust Estate or ather property or assets of the Grantor (other than Permitted Encumbrances); <br />provided, however, that the making of any such advance by the Beneficiary shall not canstitute a <br />waiver by the Bene�ciary of any Event of Default with respect to which such advance is made <br />nor excuse the Grantor from any performance required hereunder. The Grantor shall pay to the <br />Beneficiary upon demand all such advances made by the Beneficiary with interest thereon at a <br />rate equal at all tim�s to 4% per annum above the then applicable Weekly Reset LIBOR Rate. <br />6 <br />
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