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<br /> L. Notwithstanding any of the language contained in this Deed of Tnist to the cantrary,the terms of this s�ction shall ` ° �
<br /> . `� survive any foteclosure or satisfaaioa of tfnis Dced of Tnist regardless of any passage of title to Beneticiary or any � . �
<br /> � disposition by Beneficiary of any or ail of the Property.Any claims and defenses to the contrary are hereby waived. r ' '. .'.
<br /> ! 20.CONDEI4Il�TAITON.Tntstar will give Beneficiary prompt notice of any action.ceal or threateaed,by private or pub�lic �.�,�
<br /> , � entities to purchase or talce aay or all of the Property.including any easements. through wndenmation, eminent domain. ' . � �
<br /> _ � � or any other means.Trnswr furthrr agcees to notify Seneficiary of any proccedings instimted for the establishment of any : . `
<br /> sewer.water, conservation, ditch, drainage.or othet district relating to or binding upon the Property or any part of it. ' .:`
<br /> , Tnutor authorizes Beneficiary to intervene in Tnutor's nsime in any of the above descn�ed actions or claims and to collect �
<br /> , ` . :,_� and receive all svms resvlting from We acdon or claim.Trustor assigns to Beaeficiary the proceeds of any awazd or claim . , --
<br /> -"" �- ` - j for damages coanected with a oondemnaaon or other taking of ali or any part af the Proper[y. Such proceeds shatl be - - —.— -- =
<br /> -r--�=.
<br /> • . � considered payments and wiU be applied as providect in this Deed of Tmst.This acsignment of pracxxds is subject to the • � `� �:
<br /> . {! terms of any priar security agm�ment• � . . �`
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<br /> j 21.INS[JRANCE.Tntstor ag[ees to m2�ntain��as follows:
<br /> A. Trustor shall keep the Property uuured against loss by fice,theft and other hazards and risks reasonably associated �.'.c'� . , � : . .
<br /> � with the Property due w iu type and location.Other Ha7ards and cvsks may inclade,for exampte.wverage against 1 � `"��-`
<br /> loss due to floods or flooding. lliis iasurance shall be maintained in the amounts and for the periods that • .. �`°-m
<br /> Beneficiary requires. 17ie incnrnnCC carrier providing the inc��rant� shall be chasen by Tcustor Sub,jeC[ LO : . �r-,�.,.4y:�
<br /> Beneficiary's approval, wbich shall not be unreasonably withheld. [f Tn�stor fails to maintain the coverage � . • �.� . � ,�,,�
<br /> descn'bed above, Benefcciary may, az Benefrciary's option, obtain coverage w protect Beaeficiary's rights in the F -.: .•_ �:'k�:_
<br /> _ � Property a�xording to the terms of tbis Deed of Tmst. .: . -- •
<br /> . �; � .
<br /> . }. �.
<br /> ' ' A l 1 i n s u r a n c e policies aud renewals shall be a c c e ptable to Beneficiary and shall include a standard "mortgage ' '�'��_
<br /> ciause" and, where applicable, �eneficiary loss payee clause." Tn�stor shall immediately notify Beneficiary o f ,` . � t�"�--
<br /> � qnceUation or termination of the insurance. Beneficiary shall have the right w hold the policies and r�newais. If � .�`;'���`
<br /> ' Beneficiazy requims, Tn�stor shall immediately give to Beneficiary all receipts of paid premiums and neneaval _. .•�I;�r
<br /> '' notices.Upon loss,Tmstor shall give immediate notice to the insurance canier aud Beneficiary. Beneficiary may �`�,-- :�, �
<br /> matce proof of loss if not made immediately by Tn�.stor. , •� �:w�-�
<br /> � . ..__.
<br /> i iJnless Beneficiary and Tmstor otherwise agree in writing, insurancc proceeds shall be applied to restoration or • �;'-,;':`:;,:
<br /> •� repair of the Property damaged if the reswration or repair is economically feasibte and Benefici�y's sec.vrity is not ,�_ ;..,_ ==`�''�?*
<br /> lessened. If the reswration or repair is not eoonomically feasible or Bencfrciary's securiry woutd be lessene�. the �- ,. y,��
<br /> insorance pmceEds shall be applied to the Secured Debt,whether or not thea due,with any excess paid ta Tnutor. � ' . .F,:�,�A�.�
<br /> � ' If Tn�swr abandons the Property,or does not answer arithin 30 days a notice from Beneficiary that the insurance _ : .;y:°;���_�
<br /> • . cazrier has offered to seute a claim,then Beneficiary may collect the insuraace proceeds. Beneficiary may use the � ' `;i__�n_•-
<br /> � pmceeds to repair or restore the Properry or to pay the Seaued Debt whether or not then due.The 30-day periad � _., '.. , �,.,.��;�.
<br /> , . � will begin when the aorice is given. � . . � .:'�"`•
<br /> }�'�;��y4i.
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<br /> � Unless Beneficiary aad Trustor otherwise agree in writing,any application of prooeeds to principal shall not extead '. � � .''�� "
<br /> or postpone the due date of scheduled payments or change the araount of the payments.If the Propecty is acqnired ' _"��7�;,'`..
<br /> � ' . by Beneficiary,Tn�stor's right to any insw'ance policies and proceeds resWting from damage to the Property b�foie .. ` �'',:'_�Y�`.
<br /> -• the acquisition shall pass to Eeneficiary to the extent of the�red Debt unmediately before the acquisition. - ='�`�"�
<br /> B. Tmstor agees to maintain comprehensive general liability insurance naming Beneficiary as an additional insured in . ^..�"��.
<br /> _;_�.;,.�
<br /> � an amount acceptable w Beneficiary, insvring against claims arising from any accident or occurrence in or on the � `•-•�� '�':__
<br /> .:.a�.,�
<br /> . Property.
<br /> ; � ' C. Trnstor agrees to maintain rental loss or business interruption insurance, as reqnired by Beneficiary.in an amount � � �� �,:�?��'_
<br /> . • equal w at least coverage of one year's debt service,and required escrow account deposits(if agreed to separately . .� � :—�°
<br /> in writing),under a form of policy acceptable to Beneficiary. -_ ��,�'�--
<br /> � 2Z.NO FSCROW FOR'i'AXFS AND II�ISIJItANCE• Un2ess othera+ise provided in a separate agreement, Trostor will not � . . •I�`�
<br /> . � be required to pay to Beneficiary funds for taxes and insurance in escrow. .
<br /> �,` � 23.FINANCIAL REFORTS AND ADDITIONAL DOCIJ1�iENTS. Tnutor wiil provide to BeneFciary upon reyuest, any . '.' . .
<br />-_ . � � financial statement or infomiation Beaeficiary may deem necessary. Trustor wairants that all financial statements and . ;
<br /> information Trustor provides to Beneficiary are. or will be, accurate, correct, and complete. Tnistor agrees to sign. , �
<br /> t• j deliver, and fi1e as Beneficiary may reasonably request any additional documents or certifications that Beneficiary may , - . . r�
<br /> • . consider necessary to perfect,continue,and preserve Trustor's obligations under tlus Deed of Trust and Beneficiary's lien • . .
<br /> . , status on the Property. If Trustor fails to do so, Beaeficiary may sign,deliver. and file such documents or certificates in . .�• : �
<br /> � Trustor's name and Trustor hereby inevocably appoints Beneficiary or Beneficiary's agent as atte:Ley in fact to do the . . . ••
<br /> • things necessary to wmply with this section. • . .. _ . ,
<br /> ` � . 1A.JOINT AND INDMDUAL LIABILIT1f;Cd-SIGNERS;SUCCESSORS AND ASSIGNS BOUND. All duties under � , . ' �
<br /> � this Deed of Trust are joint and individual. If Trustor signs this Deed of Trust but daes not sign the Evidence of Debt. •
<br /> '.� Trustor does so only to mortga6e Trustor's interest in the Property ro secure payment of the Secured Debt and Trustor . ' . .
<br /> does not agrce to be petsonally llable on the Secured Debt. Trustor agrees ihat Be�ieficiary and any party to this Deed of . � :
<br /> ' Trust may extend, madify or make any change in the terms of this Dced of Trust or the Evidence of Debt without � . •
<br /> . Trustor's consent.Such a change will not release Trustor from the terms of this Deed of Trust.The duties and benefits of .
<br /> � ihis Ueed of Trust shall bind and benefit the successors and assigns of Trustor�nd Beneficiary.
<br /> . lf this Deed of Tnut secures a guaranty between Beneficiary and Tnutor and does not directly secure the obligation which
<br /> i is guazantied.Trustor agrees to waive any rights ti�at may prevent Beneficiary from bringing any action or ctaim against •
<br /> � Trustor or any pany indebted under the obligation including.but not limited to,anti-deftciency or one-action laws. • • .
<br /> �`,. j 1.5.APPLICABLE LAW: SEVERABILITY: INTERPltETATION. This Deed of Trust is govemed by the laws of the , � _
<br /> .��' • � , ! jurisdiction in which Beneficiary is located,except to the exrent othenvise required by the laws of the jurisdiction where .
<br /> ' the Property is located.This Dced of Trust is completc and fully integrated. This Ueed of Trust may not be amended or .
<br /> . mndified by oral agreement. Any section or clause in this Dced of Trust. attachmcnts, or any agcement related ta thc ••
<br /> � Secured Debt that conflicts with applicablc law will not he effc�:tivr, unless that law expressly or impliedly petmits thr . '
<br />. � variations by written agreement. lf any section or clausr of this Deed of'Trust cannot be rnforced according to its terms, � .
<br /> that section ar clause will be seveted and wil! not affect the enforceability of �he remainder of this beed of Trust. i_
<br /> , Whenever used, the singular shall include the plural and the plural the singular. The captions and headings nf the s��;tions �
<br /> � of this Deed of Trust are for amvenicr►cc onty and are nnt to be usEVi to in[crpret nr define th�terets of this becd nf Trust. ' �
<br /> Time is of the essence in this beed of Trust. ' � ,
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