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�_ �_ <br /> charges and impositions in connecNon with Borrower or the Propa.�as Lender reasonably <br /> deems neces,sary to protxt Lend. 's interests("Othcr Impositions"). Such sums for Other <br /> (mpositions shalt be dzposited in a lump sum or in periodic installments,at Lrnde�'s option. <br /> If required by Lender,Borrowcr shall ptomptly deliver to Lender all bills and notices with <br /> respect to any taxes,assessments,ptemiums and Other Impositions. Unless Bocrower and <br /> Lerider otherwise agree in writing,Lender shall not be required to pay Borrower any <br /> interest, eamings or profits on any sums deposited with Lender. Ail sums deposited with <br /> Lender under this paragraph 3.1 are hereby pledged as security For the Sxured Obligations. <br /> III.2 Anylicarion ofDecrositQ. All such deposited sums ahall be held by Lender <br /> and apr!ied in such order as Lender elects to pay such taxes, assessments,premiums and <br /> Othe; lmpos�tions or,upon any Event of Default,may be appGed,in whole or in part,to the <br /> 3ec�.red Obligations. The arrangement provided for in this Article III is solely for the added <br /> protection of Lender and er i:tils no responsibility on Lenders part beyond allowing due <br /> crcdit,without interest, for the sums actually received by it. Upon any assignment of this <br /> Deed of Trust by Lender,any funds on hand shall be tumed over to the assignee and any <br /> responsibility of Lender with respect thereto shall temiinate. Each transfer of the Property <br /> in accordance with Article N below shall automat�cally transfer to the hansferee al]rights <br /> of BoRower with respect to any funds deposited haeunder. Upon payment i.�full of the <br /> Secured Obligations,Lcnder shall promptly refund to Borrower the remaining balance of <br /> any deposits then held by Lender. <br /> III.3 �justments to Deposits. If the tota.l deposits held by Lender exceed the <br /> amount deemed necessary by Lender to provide for thc paytnent of s�ch taxes, assessments, <br /> premium�and Other Impositions,such excess shall,provided there is no Event of Default <br /> and no event which would constitute an Event of Default if not cured within the time <br /> allowed,be credited by Lender on the next due instaliment or installments of such deposits. � <br /> if at any time the total deposits held hy Lender are less than the amount 3eemed necessary <br /> by Lender to provide for the nnyr.?ent n£such taxes, assessments,pr�.riums and Other <br /> Impositions,Borrower shrill promptly deposit the defi�iency with Lender after receipt o: <br /> written demand from Lender. <br /> III.4 Conditi,�l Waiver. Notwithstanding the foregoing, Lender shall not require <br /> tlu payment of reserves as provided in this Article until a delinquency occurs in the payment <br /> of any such taxes, assessments,premium and Other Impositions,or until the occurrence of <br /> an Event of Default or an event which with notice or the pa�sage of time may bxome an <br /> Event of Default. <br /> ARTICLE N <br /> RFCTRiCTIONC ()N TRANCFFR OR EN AN[' <br /> Neither the Property nor any part thereof or interest therein shall be encumbered, <br /> sold(by contract or otherwise),conveyed, or othenvise transferred by Borrower,nor shal] <br /> there by any change in(i)the ownership or control of any of Boaower's stock if Botrower is <br /> 13 <br /> 9�060I1� 9 �34 <br />