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3. To keep all buildings now or hereafter erected on the Property described herein <br /> continuously insured against loss by fire or other hazards in an amount not less than the <br /> total debt secured by this Deed of Trust. All policies shall be held by the Beneficiary, and <br /> be in such companies as the Beneficiary may approve and have loss payable first to the <br /> Beneficiary, as its interest may appear, and then to the Grantor. Subject to Section 16 of <br /> the Note, the amount collected under any insurance policy may be applied upon any <br /> indebtedness hereby secured in such order as the Beneficiary shall determine. Such <br /> application by the Beneficiary shall not cause discontinuance of any proceedings to <br /> foreclose this Deed of Trust. In the event of foreclosure, all rights of the Grantor in <br /> insurance policies then in force shall pass to the purchaser at the foreclosure sale. <br /> 4. To defend any action or proceeding purporting to affect the security hereof or the rights or <br /> powers of Beneficiary or Trustee, and to pay all costs and expenses, including cost of title <br /> search and attorneys'fees in a reasonable amount, in any such action or proceeding, and <br /> in any suit brought by Beneficiary to foreclose this Deed of Trust. <br /> 5. To pay all 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 <br /> and attorneys' fees actually incurred, as provided by statute. <br /> 6. Should Grantor fail to pay when due any taxes, assessments, insurance premiums, liens, <br /> encumbrances or other charges against the Property hereinabove described, Beneficiary <br /> may pay the same, and the amount so paid, with interest at the default rate set forth in the <br /> Note secured hereby, shall be added to and become a part of the debt secured in this <br /> Deed of Trust. <br /> IT IS MUTUALLY AGREED THAT: <br /> 1. In the event any portion of the Property is taken or damaged in an eminent domain <br /> proceeding, subject to Section 16 of the Note, the entire amount of the award or such <br /> portion as may be necessary to fully satisfy the obligation secured hereby, shall be paid <br /> to Beneficiary to be applied to said obligation. <br /> 2. By accepting payment of any sum secured hereby after its due date, Beneficiary does not <br /> waive its right to require prompt payment when due of all other sums so secured or to <br /> 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 <br /> to the person entitled thereto on written request of the Grantor and the Beneficiary, or <br /> upon satisfaction of the obligation secured and written request for reconveyance made by <br /> the Beneficiary or the person entitled thereto. <br /> 4. Upon default by Grantor in the payment of any indebtedness secured hereby or in the <br /> performance of any agreement contained herein, all sums secured hereby shall at the <br /> option of the Beneficiary, immediately become due and payable in accordance with the <br /> AHTF Agreement, the Note, this Deed of Trust, the Use Restriction Covenant Agreement, <br /> or any other loan documents (collectively, the"Loan Documents"). In such event and upon <br /> written request of Beneficiary, Trustee shall sell the trust Property, in accordance with the <br /> Deed of Trust Act of the State of Washington, at public auction to the highest bidder. Any <br /> Exhibit C <br /> City of Everett <br /> HopeWorks Station Residential LLLP <br /> Page 2 of 7 <br />