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7. Should Grantor fail to pay when due any taxes, assessments,insurance premiums,liens, encumbrances
<br /> or other charges against the Property,Beneficiary may pay the same,and the amount so paid,with interest at the
<br /> rate of twelve percent(12%)per year or the highest rate allowed by law,whichever shall be less, shall be added
<br /> to and become a part of the debt secured in this Deed of Trust.
<br /> 8. If(a)Grantor fails to perform the covenants and agreements contained in this Deed of Trust,(b)there is
<br /> a legal proceeding that might significantly affect Beneficiary's interest in the Property and/or rights under this
<br /> Deed of Trust(such as a proceeding in bankruptcy,probate, for condemnation or forfeiture, for enforcement of a
<br /> lien which may attain priority over this Deed of Trust or to enforce laws or regulations), or(c)Grantor has
<br /> abandoned the Property,then in any such case Beneficiary may do and pay for whatever Beneficiary determines
<br /> is reasonable or appropriate to protect Beneficiary's interest in the Property and rights under this Deed of Trust,
<br /> including protecting and/or assessing the value of the Property, and securing and/or repairing the Property.
<br /> Beneficiary's actions can include,but are not limited to: (a)paying any sums secured by a lien that has or may
<br /> have priority over this Deed of Trust; (b)appearing in court; and(c)paying reasonable attorneys' fees to protect
<br /> its interest in the Property and/or rights under this Deed of Trust,including its secured position in a bankruptcy
<br /> proceeding. Securing the Property includes,but is not limited to,entering the Property to make repairs,change
<br /> locks,replace or board up doors and windows,drain water from pipes,eliminate building or other code
<br /> violations or dangerous conditions,and have utilities turned on or off Although Beneficiary may take action
<br /> under this Section 8, Beneficiary does not have to do so and is not under any duty or obligation to do so. It is
<br /> agreed that Beneficiary incurs no liability for not taking any or all actions authorized under this Section 8. Any
<br /> amounts disbursed by Beneficiary under this Section 8 shall become additional debt of Grantor secured by this
<br /> Deed of Trust.These amounts shall bear interest at the rate of twelve percent(12%)per annum unless payment
<br /> of interest at such rate would be contrary to applicable law,in which event these amounts shall bear interest at
<br /> the highest rate permissible under applicable law. These amounts are due upon notice from Beneficiary to
<br /> Grantor requesting payment.
<br /> IT IS MUTUALLY AGREED THAT:
<br /> 1. In the event any portion of the Property is taken or damaged in an eminent domain proceeding,the
<br /> entire amount of the award or such portion thereof as may be necessary to fully satisfy the obligation secured
<br /> hereby, shall be paid to Beneficiary to be applied to said obligation.
<br /> Unless Beneficiary and Grantor otherwise agree in writing,any such application of proceeds to
<br /> principal shall not extend or postpone the due date of the monthly installments on the Note or any other
<br /> indebtedness secured hereby or change the amount of such installments.
<br /> 2. By accepting payment of any sum secured hereby after its due date,Beneficiary does not waive its right
<br /> to require prompt payment when due of all other sums so secured or to declare default for failure to so pay.
<br /> 3. The Trustee shall reconvey all or any part of the Property covered by this Deed of Trust to the person
<br /> entitled thereto on written request of the Grantor and the Beneficiary,or upon satisfaction of the obligation
<br /> secured and written request for reconveyance made by the Beneficiary or the person entitled thereto. The
<br /> Grantor shall pay the Trustee's reconveyance fee and any costs of recordation of reconveyance.
<br /> 4. Upon default by Grantor in the payment of any indebtedness secured hereby or in the performance of
<br /> any agreement contained herein, all sums secured hereby shall immediately become due and payable at the
<br /> option of the Beneficiary. In such event and upon written request of Beneficiary,Trustee or its authorized agent
<br /> shall sell the trust property,in accordance with the Deed of Trust Act of the State of Washington, at public
<br /> auction to the highest bidder. In the event of a Trustee's sale,any person except Trustee may bid at Trustee's
<br /> sale. Trustee shall apply the proceeds of the sale as follows: (1)to the expense of sale,including a reasonable
<br /> Trustee's fee and attorney's fee; (2)to the obligation secured by this Deed of Trust;(3)the surplus,if any, shall
<br /> be distributed to the persons entitled thereto.
<br /> 5. Trustee shall deliver to the purchaser at the sale its deed,without warranty,which shall convey to the
<br /> purchaser the interest in the Property which Grantor had or had the power to convey at the time of Grantor's
<br /> execution of this Deed of Trust, and such as he may have acquired thereafter. Trustee's deed shall recite the facts
<br /> showing that the sale was conducted in compliance with all the requirements of law and of this Deed of Trust,
<br /> which recital shall be prima facie evidence of such compliance and conclusive evidence thereof in favor of bona
<br /> fide purchasers and encumbrances for value.
<br /> 6. In the event,of the death,incapacity of disability or resignation of Trustee, or at any other time at the
<br /> Beneficiary's option,Beneficiary shall appoint in writing a successor trustee,and upon the recording of such
<br /> appointment in the mortgage records of the county in which this Deed of Trust is recorded,the successor trustee
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