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�01105991
<br />2. Title. Trustor is the owner of the Property and has the right and authority to
<br />convey the Property and warrants that the lien created hereby is a first and prior lien on the
<br />Property and the execution and delivery of the Deed of Trust does not violate any contract or
<br />other obligation to which Trustor is subject.
<br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments and all
<br />other charges against the Property, before the same become delinquent, and, in the event Benefi
<br />ciary shall so require, to add to the payments required under the note secured hereby, such
<br />amount as may be sufficient to enable Beneficiary to pay such taxes, assessments or other
<br />charges as they become due.
<br />4. Repair, Maintenance and Use. To not commit waste on or damage to the Property
<br />and to use due care to prevent others from so doing; to keep the Property in good condition and
<br />repair; to keep the Property free from mechanics or other liens not expressly subordinated to the
<br />lien hereof; to not make, suffer or permit any nuisance to exist nor to diminish or impair the
<br />value of the Property by any act or omission to act; and to comply with all requirements of law
<br />with respect to the Property.
<br />5. Insurance. At all times during the term hereof to keep the Property insured
<br />against damage by fire, hazards included within the term "extended coverage", and such other
<br />hazards as Beneficiary may require, in an amount of not less than the replacement value thereof
<br />and with companies acceptable to Beneficiary, including a standard mortgagee clause with loss
<br />payable to the Beneficiary and containing an additional provision that the policy cannot be can-
<br />celed without prior written notice to the Beneficiary. In case of loss under such policies, the
<br />Beneficiary is authorized to adjust, collect and compromise all claims thereunder and shall have
<br />the option of applying all or part of the insurance proceeds (i) to any indebtedness secured here-
<br />by and in such order as Beneficiary may determine, (ii) to the Trustor to be used for the repair or
<br />restoration of the Property or (iii) for any other purpose or object satisfactory to Beneficiary
<br />without affecting the lien of this Deed of Trust for the full amount secured hereby before such
<br />payment ever took place. Any application of proceeds to indebtedness shall not extend or
<br />postpone the due date of any payments under the Note, or cure any default thereunder or here-
<br />under.
<br />6. Condemnation. In the event the Property, or any part thereof, shall be taken by
<br />eminent domain, Beneficiary is entitled to collect and receive all compensation which may be
<br />paid for any Property taken or for damages to Property not taken, and Beneficiary shall apply
<br />such compensation, at its option, either to a reduction of the indebtedness secured hereby or to
<br />repair and restore the Property so taken.
<br />7. Performance bv Beneficiary. Beneficiary may, but shall have no obligation to, do
<br />any act which Trustor has agreed but failed to do, and Beneficiary may also do any act it deems
<br />necessary to protect the lien hereof. Trustor agrees to repay, upon demand, any sums so
<br />expended by Beneficiary for the above purposes, and any sum so expended by Beneficiary shall
<br />be added to the indebtedness secured hereby and become secured by the lien hereof. Beneficiary
<br />shall not incur any personal liability because of anything it may do or omit to do hereunder.
<br />8. Assignment of Rents. Beneficiary shall have the right, power and authority dur-
<br />ing the continuance of this Deed of Trust to collect the rents, issues and profits of the Property
<br />and of any personal property located thereon with or without taking possession of the Property
<br />affected hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues
<br />and profits to Beneficiary. Beneficiary, however, hereby consents to Trustor's collection and
<br />retention of such rents, issues and profits as they accrue and become payable, so long as Trustor
<br />is not, at such time, in default with respect to payment of any indebtedness secured hereby, or in
<br />the performance of any agreement hereunder. If any event of default described hereafter in re-
<br />spect to this Deed of Trust shall have occurred and be continuing, Beneficiary, as a matter of
<br />right and without notice to Trustor or anyone claiming under Trustor, and without regard to the
<br />value of the trust estate or the interest of the Trustor therein, shall have the right to apply to any
<br />court having jurisdiction to appoint a receiver of the Property.
<br />9. Ins ec tions Beneficiary, or its agents, representatives or workmen, are
<br />authorized to enter at any reasonable time upon or in any part of the Property for the purpose of
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