Laserfiche WebLink
�� �i �, � � a�� �� � <br />required hereunder, Trustor shall furnish Beneficiary appropriate proof of issuance of a policy continuing in force <br />the insurance covered by the policy so expiring. Trustor shall furnish Beneficiary receipts for the payment of <br />premiums on such insurance policies or other evidence of such payment reasonably satisfactory to Beneficiary in the <br />event that such premiums have not been paid to Beneficiary pursuant to the terms of this Deed of Trust. In the event <br />that Trustor does not deposit with Beneficiary a new policy of insurance with evidence of payment of premiums <br />thereon at least thirly (30) days prior to the expirarion of any policy, then Beneficiary may, but shall not be obligated <br />to, procure such insurance and pay the premiums therefor and any money paid by Beneficiary for such premiums <br />shall be reimbursed to Beneficiary in accordance with the terms of this Deed of Trust. <br />In the event of the foreclosure of this Deed of Trust or other transfer of the title to the Mortgaged Property <br />in extinguishment, in whole or in part, of the Obligarions, all right, title and interest of Trustor in and to any <br />insurance policy, or premiums paid in connection with such policy or payments in sarisfaction of claims or any other <br />rights thereunder then in force, shall pass to the purchaser or grantee. Nothing contained herein shall prevent <br />accrual of interest as provided in the Note on any portion of the Obligations to which the Insurance Proceeds are to <br />be applied until such time as the Insurance Proceeds are actually received by Beneficiary and applied by Beneficiary <br />to reduce the Obligations secured by this Deed of Trust. All of such insurance sha11 be subject to such deducribles <br />as are approved by Lender. <br />(e) Reserve for Insurance, Taxes and Assessments. [Intentionally omitted]. <br />(� Eminent Domain and Condemnation. Trustor shall notify Beneficiary immediately of any <br />threatened or pending proceeding for eminent domain or condemnation affecting the Mortgaged Property or arising <br />out of damage to the Mortgaged Property, and Trustor shall, at Trustor's expense, diligently prosecute any such <br />proceedings. Beneficiary shall have the right (but not the obligation) to participate in any such proceeding and to be <br />represented by counsel of its own choice. Beneficiary sha11 be entitled to receive all sums which may be awarded or <br />become payable to Trustor for the condemnation of the Mortgaged Properiy, or any part thereof, for public or quasi- <br />public use, or by viriue of private sale in lieu thereof, and any sums which may be awarded or become payable to <br />Trustor for injury or damage to the Mortgaged Property. Trustor sha11, promptly upon request of Beneficiary, <br />execute such additional assignments and other documents as may be necessary from time to time to permit such <br />participarion and to enable Beneficiary to collect and receipt for any such sums. All such sums are hereby assigned <br />to Beneficiary, and sha11, after deduction therefrom of all reasonable expenses actually incurred by Beneficiary, <br />including attorneys' fees, at Beneficiary's option be (1) released to Trustor, or (2) applied (upon compliance with <br />such terms and conditions as may be required by Beneficiary) to repair or restoration of the Mortgaged Properly so <br />affected, or (3) applied to the payment of the Obligations in such order and manner as Beneficiary, in its sole <br />discretion, may elect whether or not due. In any event the unpaid portion of the Obligations shall remain in full force <br />and effect and the payment thereof shall not be excused. Beneficiary shall not be, under any circumstances, liable or <br />responsible for failure to collect or to exercise diligence in the collection of any such sum or for failure to see to the <br />proper applicarion of any amount paid over to Trustor. Beneficiary is hereby authorized, in the name of Trustor, to <br />execute and deliver valid acquittance for, and to appeal from, any such award, judgment or decree. All costs and <br />expenses (including but not limited to attomeys' fees) incurred by Beneficiary in connection with any condemnation <br />shall be an Obligation owing by Trustor (which Trustor hereby promises to pay on demand of Beneficiary) to <br />Beneficiary pursuant to this Deed of Trust. <br />(g) Compliance with Legal Requirements. The Mortgaged Properiy and the use, operation and <br />maintenance thereof and all activities thereon comply in all material respects with all applicable Legal Requirements <br />(defined below). The Mortgaged Property is not dependent on any other property or premises or any interest therein <br />other than the Mortgaged Property to fulfill any requirement of any Legal Requirement. No part of the Mortgaged <br />Property constitutes a nonconforming use under any zoning law or similar law or ordinance. Trustor has obtained <br />and shall preserve in force a11 requisite zoning, utility, building, health and operating permits from the governmental <br />authorities having jurisdiction over the Mortgaged Property, except where the failure to have such permit would not <br />have a material adverse effect on the Mortgaged Properiy or Trustor's ability to pay the Obligations. If Trustor <br />receives a notice or claim from any person that the Mortgaged Property, or any use, activity, operation or <br />maintenance thereof or thereon, is not in compliance with any Legal Requirement, Trustor will promptly furnish a <br />copy of such notice or claim to Beneficiary. Trustor has received no notice and has no knowledge of any such <br />noncompliance. As used in this Deed of Trust: (i) the term "Le a� 1 Rec�uiremenY' means any Law (defined below), <br />agreement, covenant, restriction, easement, or condition (including, without limitation of the foregoing, any <br />DOCS/10454951 <br />