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r <br /> regulations,covenants,conditions and restrictions affecting the Property. Grantor understands that Beneficiary or <br /> its designee may periodically verify compliance with this Section and may request that Grantor perform certain <br /> maintenance on the Property. <br /> 2. To pay when due all amounts now or hereafter owing on the Note, and to <br /> perform all of its obligations secured by any deed of trust, mortgage or other lien on the <br /> Property that is the subject of this Deed of Trust,whether or not such lien has priority over <br /> this Deed of Trust. Grantor shall keep the Property free of all liens, charges and <br /> encumbrances unless consented to in writing by Beneficiary. Upon any breach of the <br /> obligations of this Section, Beneficiary shall have the right, without notice or demand, to <br /> declare all amounts secured hereby immediately due and payable. <br /> 3. If this Deed of Trust is on a unit in a condominium or a planned unit development, Grantor shall <br /> perform all of Grantor's obligations under the declaration or covenants creating or governing the condominium <br /> or planned unit development,the by-laws and regulations of the condominium or planned unit development, and <br /> other constituent documents. If a condominium or planned unit development rider is executed by Grantor and <br /> recorded together with this Deed of Trust,the covenants and agreements of such rider are incorporated into, <br /> amend and supplement the covenants and agreements of this Deed of Trust. <br /> 4. To keep the improvements now existing or hereafter erected on the Property continuously insured <br /> against loss by fire and such other hazards as Beneficiary may require. This insurance shall be in such amounts <br /> (including deductible levels)as Beneficiary may require from time to time;provided,that Beneficiary shall not <br /> require that the amount of such coverage exceed that amount of coverage required to pay(a)the sums secured by <br /> this Deed of Trust and all debt obligations secured by prior liens; or(b)the maximum insurable value of the <br /> improvements on the Property,whichever shall be less. <br /> All insurance policies and renewals thereof shall be in form acceptable to Beneficiary and shall include a <br /> standard mortgagee clause in favor of and in form acceptable to Beneficiary. Beneficiary shall have the right to <br /> hold the policies and renewals thereof, and Grantor shall promptly furnish to Beneficiary all renewal notices and <br /> all receipts of paid premiums. In the event of loss,Grantor shall give prompt notice to the insurance carrier and <br /> Beneficiary. Beneficiary may make proof of loss if not made promptly by Grantor. <br /> If Grantor fails to maintain any of the coverages described above, Beneficiary may obtain insurance coverage, at <br /> Beneficiary's option and Grantor's expense. Beneficiary is under no obligation to purchase any particular type or <br /> amount of coverage. Therefore,such coverage shall cover Beneficiary,but might or might not protect Grantor, <br /> Grantor's equity in the Property,or the contents of the Property, against any risk,hazard or liability and might <br /> provide greater or lesser coverage than was previously in effect. Grantor acknowledges that the cost of the <br /> insurance coverage so obtained might significantly exceed the cost of insurance that Grantor could have <br /> obtained.Any amounts disbursed by Beneficiary under this Section 4,with interest at the rate of twelve percent <br /> (12%)per year or the highest rate allowed by law,whichever shall be less, shall become additional debt of <br /> Grantor secured by this Deed of Trust. <br /> Grantor shall cause the amount collected under any insurance policy to be applied upon any indebtedness hereby <br /> secured in such order as the Beneficiary shall determine. Unless Beneficiary and Grantor otherwise agree in <br /> writing,any such application of proceeds to principal shall not extend or postpone the due date of the monthly <br /> installments on the Note or any other indebtedness secured hereby or change the amount of such installments. <br /> Such application by the Beneficiary shall not cause discontinuance of any proceedings to foreclose this Deed of <br /> Trust. In the event of foreclosure,all rights of the Grantor in insurance policies then in force shall pass to the <br /> purchaser at the foreclosure sale. <br /> 5. To defend any action or proceeding purporting to affect the security hereof or the rights or powers of <br /> Beneficiary or Trustee,and to pay all costs and expenses,including cost of title search and attorney's fees in a <br /> reasonable amount,in any such action or proceeding,and in any suit brought by Beneficiary to foreclose this <br /> Deed of Trust. <br /> 6. To pay all reasonable costs, fees and expenses in connection with this Deed of Trust,including the <br /> expenses of the Trustee incurred in enforcing the obligation secured hereby and Trustee's and attorney's fees <br /> actually incurred,as provided by statute. <br /> D-2 5 <br />