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2oioo9345 this power as Beneficiary and Trustee see fit. (b) In� 7he insurance as required herein may be carried by the association of unit owners on Trustor's/Granto�'s behalf, and the proceeds of such insurance may be paid to the association of unit owners for the purpose of repairing ar reconstructing the Property. If not so used by the association, such proceeds shall be paid ta Beneficiary. (c) Default. 7rustor's/Grantor's failure to perform any of the obligations imposed on Trustor/Grantar by the declaration submitting the Real Property to unit ownership, by the bylaws of the association of unit owners, or by any rules or regulations thereunder, shall be an event of default und�r this Deed of Trust. If Trustor'slGrantors interest in the Real Prdper#y is a leasehold interest and such praperty has been submitted to unit ownership, any failure by Trustor/Grantor to perForm any of the pbligations imposed on Trus#orlGrantor by the lease af the Real Property from its owner, any default under such lease which might result in termination of the lease as it perkains to the Real Property, or any failure of Trustor/ Grantor as a memb�r of an association of unit owners to take any reasonable action within 7rustor's/ Grantor's power to prevent a default under such lease by the association of unit owners or by any member of the association shall be an Event of Default under this Deed of Trust. 4.20 Annrai a 15. " Fees and Expenses. 7rustor agrees that Beneficiary m�y abtain appraisals and reappraisals and perform property evaluations and appraisal reviews of the Real Property when required by the regulations of the Fed�ral Reserve 8oard or the �ffice of the Comptroller of the Currency, or any other regulatory agency, or at such ather times as Beneficiary may reasanably require. Appraisals shall be performed by an independent third party appraiser selected by Beneficiary; property evaluations and appraisal reviews may be performed by third party appraisers or appraisers and staff of Beneficiary. The fees, expenses and other cost of such appraisals, reappraisals, property evaluations and appraisal reviews shall be paid by Trustor. In addition, Trustor shall be responsible for payment of all fees and expenses of Beneficiary and third parties relating to inspecting the Real Property, environment�l review, title policies and endorsements (or title searches, abstracts of title or legal opinians of title where applicable), and monitoring the payment of property taxes, and any governmental taxes, fees and recording costs relating to this deed. � - ��ia�169[�1�� 5.1 Default. The occurrence of any of tha following shall constitute a"DefaulY' under this Deed nf Trust: (a) Trustor shall fail to observe or perform any obligation or agreement contained herein; (b) any representation or warranty of Trustor herein shall prove to be incorrect, false or misleading in any material respect when made; or (c) any default in the payment or performance of any obligation, or any defined event of default, under any provisians of the Note or any other contract, instrument or document executed in connection with, or with respect to, any Secured Obligation. 5.2 R�i h�and R�xnedies. Upon the occurrence of any Default, and at any time thereafter, Beneficiary and Trustee shall have all the following rights and remedies: (a) With or without notice, to declare all Secured Obligations immediately due and payable in full. (b) With or without notice, without releasing 7rustor from any Secured Obligation and withaut becoming a mortgagee in possession, to cure any Default of Trustor and, in connection therewith: (i) to enter upon the Real Property and to do such acts and things as Beneficiary or Trustee deems necessary or desirable to protect the security af this beed of Trust, including without limitation, to appear in and defend any action or proceeding purporting to affect the security of this Deed af Trust or the rights or powers of Beneficiary or Trustee hereunder; (ii) to pay, purchase, contest or compromise� any DeedOfTrust-NE Job 1550608450-1310239189 Loan Vers.1 12/03/2010 Page 12 of 19