Common use of Funds for Taxes and Insurance Clause in Contracts

Funds for Taxes and Insurance. If an Event of Default has occurred under this Deed of Trust or under any of the Related Agreements, regardless of whether the same has been cured, then thereafter at any time Beneficiary may, at its option to be exercised upon thirty (30) days' written notice to Trustor, require the deposit with Beneficiary or its designee by Trustor, at the time of each payment of an installment of interest or principal under the Note, of an additional amount sufficient to discharge the obligations of Trustor under Sections 1.02 and 1.04 hereof as and when they become due. The determination of the amount payable and of the fractional part thereof to be deposited with Beneficiary shall be made by Beneficiary in its sole discretion. These amounts shall be held by Beneficiary or its designee not in trust and not as agent of Trustor and shall not bear interest, and shall be applied to the payment of the obligations in such order or priority as Beneficiary shall determine. If at any time within thirty (30) days prior to the due date of any of the aforementioned obligations the amounts then on deposit therefor shall be insufficient for the payment of such obligation in full, Trustor shall within ten (10) days after demand deposit the amount of the deficiency with Beneficiary. If the amounts deposited are in excess of the actual obligations for which they were deposited, Beneficiary may refund any such excess, or, at its option, may hold the same in a reserve account, not in trust and not bearing interest, and reduce proportionately the required monthly deposits for the ensuing year. Nothing herein contained shall be deemed to affect any right or remedy of Beneficiary under any other provision of this Deed of Trust or under any statute or rule of law to pay any such amount and to add the amount so paid to the indebtedness hereby secured. All amounts so deposited shall be held by Beneficiary or its designee as additional security for the sums secured by this Deed of Trust and upon the occurrence of an Event of Default hereunder Beneficiary may, in its sole and absolute discretion and without regard to the adequacy of its security hereunder, apply such amounts or any portion thereof to any part of the indebtedness secured hereby. Any such application of said amounts or any portion thereof to any indebtedness secured hereby shall not be construed to cure or waive any default or notice of default hereunder. If Beneficiary requires deposits to be made pursuant to this Section 1.05, Trustor shall deliver to Beneficiary all tax bills, bond and assessment statements, statements of insurance premiums, and statements for any other obligations referred to above as soon as such documents are received by Trustor. If Beneficiary sells or assigns this Deed of Trust, Beneficiary shall have the right to transfer all amounts deposited under this Section 1.05 to the purchaser or assignee, and Beneficiary shall thereupon be released and have no further liability hereunder for the application of such deposits, and Trustor shall look solely to such purchaser or assignee for such application and for all responsibility relating to such deposits.

Funds for Taxes and Insurance. If an Event of Default has occurred under this Deed of Trust or under any of the Related Agreements, regardless of whether the same has been cured, then thereafter at any time Beneficiary may, at its option to be exercised upon thirty (30) days' ’ written notice to Trustor, require the deposit with Beneficiary or its designee by Trustor, at the time of each payment of an installment of interest or principal under the Note, of an additional amount sufficient to discharge the obligations of Trustor under Sections 1.02 and 1.04 hereof as and when they become due. The determination of the amount payable and of the fractional part thereof to be deposited with Beneficiary shall be made by Beneficiary in its sole discretion. These amounts shall be held by Beneficiary or its designee not in trust and not as agent of Trustor and shall not bear interest, and shall be applied to the payment of the obligations in such order or priority as Beneficiary shall determine. If at any time within thirty (30) days prior to the due date of any of the aforementioned obligations the amounts then on deposit therefor shall be insufficient for the payment of such obligation in full, Trustor shall within ten (10) days after demand deposit the amount of the deficiency with Beneficiary. If the amounts deposited are in excess of the actual obligations for which they were deposited, Beneficiary may refund any such excess, or, at its option, may hold the same in a reserve account, not in trust and not bearing interest, and reduce proportionately the required monthly deposits for the ensuing year. Nothing herein contained shall be deemed to affect any right or remedy of Beneficiary under any other provision of this Deed of Trust or under any statute or rule of law to pay any such amount and to add the amount so paid to the indebtedness hereby secured. All amounts so deposited shall be held by Beneficiary or its designee as additional security for the sums secured by this Deed of Trust and upon the occurrence of an Event of Default hereunder Beneficiary may, in its sole and absolute discretion and without regard to the adequacy of its security hereunder, apply such amounts or any portion thereof to any part of the indebtedness secured hereby. Any such application of said amounts or any portion thereof to any indebtedness secured hereby shall not be construed to cure or waive any default or notice of default hereunder. If Beneficiary requires deposits to be made pursuant to this Section 1.05, Trustor shall deliver to Beneficiary all tax bills, bond and assessment statements, statements of insurance premiums, and statements for any other obligations referred to above as soon as such documents are received by Trustor. If Beneficiary sells or assigns this Deed of Trust, Beneficiary shall have the right to transfer all amounts deposited under this Section 1.05 to the purchaser or assignee, and Beneficiary shall thereupon be released and have no further liability hereunder for the application of such deposits, and Trustor shall look solely to such purchaser or assignee for such application and for all responsibility relating to such deposits.

Funds for Taxes and Insurance. If an In the event that Trustor fails to meet any of its obligations under Sections 1.02 and 1.04 as and when they become due or any other Event of Default has occurred under this Deed of Trust or under any of the Related Agreements, regardless of whether the same has been cured(as hereinafter defined) shall occur hereunder, then thereafter at any time Beneficiary may, at its option to be exercised upon thirty (30) days' written notice to Trustor, require the deposit with Beneficiary or its designee by Trustor, at on the time first day of each payment of an installment of interest or principal under the Notemonth, of an additional amount sufficient to discharge the such obligations of Trustor under Sections 1.02 and 1.04 hereof as and when they become dueTrustor. The determination of the amount payable and of the fractional part thereof to be deposited with Beneficiary each month shall be made by Beneficiary in its sole discretion. These Said amounts shall be held by Beneficiary or its designee not in trust and not as agent of Trustor and shall not bear interest, and shall be applied to the payment of the obligations in respect to which the amounts were deposited in such order or priority as Beneficiary shall determine. If at any time within thirty (30) days prior to the due date of any of the aforementioned obligations the amounts then on deposit therefor shall be insufficient for the payment of such obligation in full, Trustor shall within ten (10) days after demand deposit the amount of the deficiency with Beneficiary. If the amounts deposited are in excess of the actual obligations for which they were deposited, Beneficiary may refund any such excess, or, at its option, may hold the same in a reserve account, not in trust and not bearing interest, and reduce proportionately the required monthly deposits for the ensuing year. Nothing herein contained shall be deemed to affect any right or remedy of Beneficiary under any other provision of this Deed of Trust or under any statute or rule of law to pay any such amount and to add the amount so paid to the indebtedness hereby secured. All amounts so deposited shall be held by Beneficiary or its designee as additional security for the sums secured by this Deed of Trust and upon the occurrence of an Event of Default hereunder Beneficiary may, in its sole and absolute discretion and without regard to the adequacy of its the security hereunder, apply such amounts or any portion thereof to any part of the indebtedness secured hereby. Any such application of said amounts or any portion thereof to any indebtedness secured hereby shall not be construed to cure or waive any default or notice of default hereunderhereunder or invalidate any act done pursuant to any such default or notice. If Beneficiary requires deposits to be made pursuant to this Section 1.05Section, Trustor shall deliver to Beneficiary all tax bills, bond and assessment statements, statements of insurance premiums, and statements for any other obligations referred to above as soon as such documents the same are received by Trustor. If Beneficiary sells or assigns this Deed of Trust, Beneficiary shall have the right to transfer all of its interest in all amounts deposited under this Section 1.05 to the purchaser or assigneeassignee of its interest herein, and Beneficiary shall thereupon be released and have no further liability hereunder for the application of such deposits, and Trustor shall look solely to such purchaser or assignee for such application and for all responsibility relating to such deposits.

Funds for Taxes and Insurance. If an Event of Default has occurred under this Deed of Trust or under any Subject to the provisions of the Related AgreementsCash Collateral Agreement, regardless of whether Borrower shall pay into the same has been curedMortgage Escrow Sub-Account, then thereafter at any time Beneficiary maythe following (collectively, at its option to be exercised upon thirty the "Mortgage Escrow Amounts"): (30i) days' written notice to Trustor, require the deposit with Beneficiary or its designee by Trustor, at the time of each payment of an installment of interest or principal under the Note, of an additional amount amounts sufficient to discharge the obligations of Trustor Borrower under Sections 1.02 Section 7(a) hereof as and 1.04 when they become due, and (ii) following any failure by Borrower to comply with the requirements of Section 5, amounts sufficient to discharge the obligations of Borrower under Section 5 hereof as and when they become due. The determination Subject to the provisions of the amount payable and following sentence, Lender shall deposit into the Mortgage Escrow Sub-Account $514,192.58 on the ninth day of each calendar month (or if such day is not a Business Day, the fractional part thereof to be deposited with Beneficiary immediately preceding Business Day). The amounts provided in the immediately proceeding sentence shall be made adjusted, from time to time, by Beneficiary Lender in its sole discretion. These reasonable discretion in order to comply with the next sentence of this Section 8(a) and any such adjusted amounts shall be held deposited by Beneficiary or its designee not Borrower into the Mortgage Escrow Sub-Account. Subject to Section 8(b) below, the amounts on deposit in trust and not as agent of Trustor and shall not bear interest, and the Mortgage Escrow Sub-Account by Borrower pursuant to this Section 8(a) shall be applied an amount sufficient to pay insurance premiums thirty (30) days in advance of the date when required to be paid pursuant to the payment provisions of the obligations in such order or priority as Beneficiary shall determine. If at any time within Section 5 and Impositions thirty (30) days prior to the respective dates on which the same become due date and payable. If the amount of such premiums and Impositions has not been definitely ascertained by Borrower at the time when any such deposits are to be paid, Lender shall require payment of Mortgage Escrow Amounts based upon the amount of such premiums and Impositions paid for the preceding year, subject to adjustment as and when the amount of such premiums and Impositions are ascertained by Borrower. Any amounts received by Borrower as a refund or rebate of any Impositions (net of any reasonable expenses related to the collection or receipt thereof) shall be deposited by Borrower into the Operating Account within two (2) Business Days of Borrower's receipt thereof and shall be disbursed in accordance with the terms of the aforementioned obligations the amounts then on deposit therefor Cash Collateral Agreement. The Mortgage Escrow Amounts shall be insufficient for held by the Securities Intermediary pursuant to the terms hereof and pursuant to the Cash Collateral Agreement and shall be applied in accordance with the provisions hereof and in accordance with the Cash Collateral Agreement, to the payment of the obligations in respect of which such obligation in full, Trustor shall within ten (10) days after demand deposit Mortgage Escrow Amounts were retained. Upon the amount occurrence of an Event of Default and the acceleration of the deficiency Note, all or any portion of such Mortgage Escrow Amounts may be applied to the Indebtedness in such order or priority as Lender may elect (subject to Sections 20 and 21 hereof) and Lender may exercise any of its rights or remedies with Beneficiaryrespect to same hereunder, at law or in equity. If In the amounts deposited are in excess absence of such acceleration, any Mortgage Escrow Amounts held by Securities Intermediary that exceed the actual obligations for which they were depositedretained, Beneficiary may refund any such excess, or, at its option, may hold shall be held and applied to the same next due obligations or otherwise applied by Lender in a reserve account, not in trust and not bearing interest, and reduce proportionately accordance with the required monthly deposits for the ensuing yearterms hereof. Nothing herein contained shall be deemed to affect any right or remedy of Beneficiary Lender under any other provision of this Deed of Trust Mortgage or under any statute otherwise at law or rule of law in equity, to pay any such amount and to add the amount so paid to the indebtedness Indebtedness hereby secured. All amounts so deposited shall be held by Beneficiary or its designee as additional security for the sums secured by this Deed of Trust and upon the occurrence of an Event of Default hereunder Beneficiary may, in its sole and absolute discretion and without regard to the adequacy of its security hereunder, apply such amounts or any portion thereof to any part of the indebtedness secured hereby. Any such application of said amounts or any portion thereof to any indebtedness Indebtedness secured hereby shall not be construed to cure or waive any default Default or notice of default hereunder. If Beneficiary requires deposits to be made Default hereunder (or invalidate any act done pursuant to this Section 1.05, Trustor any such Default or notice) until such amounts have been repaid to Lender by Borrower. Borrower shall deliver to Beneficiary Lender all tax bills, bond and assessment statements, statements of insurance premiums, and statements for any other obligations referred to above as soon as such documents the same are received by TrustorBorrower, and Lender shall cause the same to be paid when due to the extent of Mortgage Escrow Amounts available therefor. If Beneficiary sells or assigns this Deed of Trust, Beneficiary It is expressly acknowledged and agreed that Lender shall have the right no obligation whatsoever to transfer advance from its own funds any amounts in payment of all amounts deposited under this Section 1.05 to the purchaser or assignee, and Beneficiary shall thereupon be released and have no further liability hereunder for the application any portion of such deposits, and Trustor shall look solely to such purchaser or assignee for such application and for all responsibility relating to such depositsobligations.

Funds for Taxes and Insurance. If an Event of Default has occurred under this Deed of Trust or under any of the Related Agreements, regardless of whether the same has been cured, then thereafter requested at any time Beneficiary mayor from time to time by the Mortgagee, at its option the Mortgagor shall pay to be exercised upon thirty (30) days' written notice to Trustor, require the deposit with Beneficiary or its designee by Trustor, at Mortgagee on the time day monthly installments of each payment of an installment of principal and interest or principal are payable under the Note, of an additional amount sufficient to discharge until the obligations of Trustor under Sections 1.02 and 1.04 hereof as and when they become due. The determination of the amount payable and of the fractional part thereof to be deposited with Beneficiary shall be made by Beneficiary in its sole discretion. These amounts shall be held by Beneficiary or its designee not in trust and not as agent of Trustor and shall not bear interest, and shall be applied to the payment of the obligations in such order or priority as Beneficiary shall determine. If at any time within thirty (30) days prior to the due date of any of the aforementioned obligations the amounts then on deposit therefor shall be insufficient for the payment of such obligation Note is paid in full, Trustor shall within ten a sum (10hereinafter called "Funds") days after demand deposit the amount equal to one-twelfth of the deficiency with Beneficiaryyearly taxes and assessments levied against the Mortgaged Property, plus one-twelfth of yearly premium installments on insurance required under paragraph 8 hereof, all as estimated initially and from time to time by the Mortgagee, to be applied by the Mortgagee to pay said taxes, assessments and insurance premiums. If No earnings or interest shall be payable to the amounts deposited are in excess of Mortgagor on the actual obligations for which they were depositedFunds. Such Funds shall not be, Beneficiary may refund any such excess, or, at its option, may hold the same in a reserve account, not in trust and not bearing interest, and reduce proportionately the required monthly deposits for the ensuing year. Nothing herein contained shall nor be deemed to affect any right or remedy of Beneficiary under any other provision of this Deed of Trust or under any statute or rule of law to pay any such amount and to add the amount so paid to the indebtedness hereby secured. All amounts so deposited shall be held by Beneficiary or its designee as additional security for the sums secured by this Deed of Trust and upon the occurrence of an Event of Default hereunder Beneficiary maybe, in its sole and absolute discretion and without regard to the adequacy of its security hereunder, apply such amounts or any portion thereof to any part of the indebtedness secured hereby. Any such application of said amounts or any portion thereof to any indebtedness secured hereby shall not be construed to cure or waive any default or notice of default hereunder. If Beneficiary requires deposits to be made pursuant to this Section 1.05, Trustor shall deliver to Beneficiary all tax bills, bond and assessment statements, statements of insurance premiumstrust funds, and statements for any other obligations referred to above as soon as such documents are received by Trustor. If Beneficiary sells or assigns this Deed of Trust, Beneficiary the Mortgagee shall have the right to transfer all amounts deposited under this Section 1.05 hold the Funds in any manner the Mortgagee elects and may comingle the Funds with other moneys held by the Mortgagee. If the amount of the Funds held by the Mortgagee shall exceed at any time the amount deemed necessary by the Mortgagee to provide for the payment of taxes, assessments and insurance premiums as they fall due, such excess shall, at the option of the Mortgagee, either be promptly repaid to the purchaser Mortgagor or assigneebe credited to the Mortgagor on monthly installments of Funds subsequently payable. If the amount of the Funds held by the Mortgagee shall not be sufficient at any time to pay taxes, assessments and insurance premiums as they fall due, the Mortgagor shall pay to the Mortgagee any amount necessary to make up the deficiency upon notice from the Mortgagee to the Mortgagor requesting payment thereof, and Beneficiary the Mortgagee may apply such amounts in such order of application as the Mortgagee may determine. Upon the occurrence of any Event of Default, as defined in paragraph 16 hereof, the Mortgagee may apply on the Indebtedness secured hereby, in such order of application as the Mortgagee may determine, any Funds then in the Mortgagee's possession. Upon payment in full of all Indebtedness secured by this Mortgage, the Mortgagee shall thereupon be released and have no further liability hereunder for promptly remit to the Mortgagor any Funds held by the Mortgagee. If, under paragraph 16 hereof, the Mortgaged Property is sold or the Mortgaged Property is otherwise acquired by the Mortgagee, the Mortgagee may apply any funds then held by the Mortgagee as a credit against any taxes or insurance premiums then due or against the Indebtedness secured by this Mortgage, in such order of application of such deposits, and Trustor shall look solely to such purchaser or assignee for such application and for all responsibility relating to such depositsas the Mortgagee may determine.

Funds for Taxes and Insurance. If an In the event of any Event of Default has occurred under this Deed of Trust or under any of the Related Agreements, regardless of whether the same has been cured(as hereinafter defined), then thereafter at any time Beneficiary may, at its option to be exercised upon thirty (30) days' Business Days’ written notice to Trustor, require the deposit with Beneficiary or its designee by Trustor, at on the time first day of each payment of an installment of interest or principal under the Notemonth, of an additional amount sufficient to discharge the such obligations of Trustor under Sections 1.02 and 1.04 hereof as and when they become dueTrustor. The determination of the amount payable and of the fractional part thereof to be deposited with Beneficiary each month shall be made by Beneficiary in its sole reasonable discretion. These Said amounts shall be held by Beneficiary or its designee not in trust and not as agent of Trustor and shall not bear interest, and shall be applied to the payment of the obligations in respect to which the amounts were deposited in such order or priority as Beneficiary shall determine. If at any time within thirty (30) days Business Days prior to the due date of any of the aforementioned obligations the amounts then on deposit therefor shall be insufficient for the payment of such obligation in full, Trustor shall within ten (10) days Business Days after demand deposit the amount of the deficiency with Beneficiary. If the amounts deposited are in excess of the actual obligations for which they were deposited, Beneficiary may refund any such excess, or, at its option, may hold the same in a reserve account, not in trust and not bearing interest, and reduce proportionately the required monthly deposits for the ensuing year. Nothing herein contained shall be deemed to affect any right or remedy of Beneficiary under any other provision of this Deed of Trust or under any statute or rule of law to pay any such amount and to add the amount so paid to the indebtedness hereby secured. All amounts so deposited shall be held by Beneficiary or its designee as additional security for the sums secured by this Deed of Trust and upon the occurrence of an Event of Default hereunder Beneficiary may, in its sole and absolute discretion and without regard to the adequacy of its the security hereunder, apply such amounts or any portion thereof to any part of the indebtedness secured hereby. Any such application of said amounts or any portion thereof to any indebtedness secured hereby shall not be construed to cure or waive any default or notice of default hereunderhereunder or invalidate any act done pursuant to any such default or notice. If Beneficiary requires deposits to be made pursuant to this Section 1.05Section, Trustor shall deliver to Beneficiary all tax bills, bond and assessment statements, statements of insurance premiums, and statements for any other obligations referred to above as soon as such documents the same are received by Trustor. If Beneficiary sells or assigns this Deed of Trust, Beneficiary shall have the right to transfer all of its interest in all amounts deposited under this Section 1.05 to the purchaser or assigneeassignee of its interest herein, and Beneficiary shall thereupon be released and have no further liability hereunder for the application of such deposits, and Trustor shall look solely to such purchaser or assignee for such application and for all responsibility relating to such deposits.

Funds for Taxes and Insurance. If an Event of Default has occurred Borrower is in default under this Deed of Trust Agreement or under any of the Related AgreementsLoan Documents, regardless of whether the same default has been cured, then thereafter Lender may at any time Beneficiary maysubsequent time, at its option to be exercised upon thirty (30) days' on 30 days written notice to TrustorBorrower, require the Borrower to deposit with Beneficiary Lender or its designee by Trustordesignee, at the time of each payment of an installment of interest or principal under the Note, of an additional amount sufficient to discharge the obligations of Trustor under Sections 1.02 and 1.04 hereof Secured Obligations as and when they become due. The determination calculation of the amount payable and of the fractional part thereof of it to be deposited with Beneficiary Lender shall be made by Beneficiary Lender in its sole and absolute discretion. These amounts shall be held by Beneficiary Lender or its designee not in trust and not as agent of Trustor Borrower and shall not bear interest, and shall be applied to the payment of any of the obligations Secured Obligations under the Loan Documents in such order or priority as Beneficiary Lender shall determine. If at any time within thirty (30) 30 days prior to before the due date of any of the aforementioned these obligations the amounts then on deposit therefor shall be insufficient for to pay the payment of such obligation obligations under the Note and this Agreement in full, Trustor Borrower shall within ten (10) days after demand deposit the amount of the deficiency with BeneficiaryLender within 10 days after Lender’s demand. If the amounts deposited are in excess of the actual obligations for which they were deposited, Beneficiary Lender may refund any such excess, or, at its option, may hold the same excess in a reserve account, not in trust and not bearing interest, and reduce proportionately the required monthly deposits for the ensuing year. Nothing herein contained in this Section shall be deemed to affect any right or remedy of Beneficiary Lender under any other provision of this Deed of Trust Agreement or under any statute or rule of law to pay any such amount and to add the amount so paid to the indebtedness hereby securedIndebtedness secured by the Security Instrument. All Lender shall have no obligation to pay insurance premiums or taxes except to the extent the fund established under this Section is sufficient to pay such premiums or taxes, to obtain insurance, or to notify Borrower of any matters relative to the insurance or taxes for which the fund is established under this Section. Construction Loan and Security Agreement Lender or its designee shall hold all amounts so deposited shall be held by Beneficiary or its designee as additional security for the sums secured by this Deed of Trust and upon the occurrence of an Event of Default hereunder Beneficiary Security Instrument. Lender may, in its sole and absolute discretion and without regard to the adequacy of its security hereunderunder the Security Instrument, apply such amounts or any portion thereof of it to any part of Indebtedness secured by the indebtedness secured hereby. Any Security Instrument, and such application of said amounts or any portion thereof to any indebtedness secured hereby shall not be construed to cure or waive any default or notice of default hereunderunder this Agreement, or any other Loan Document. If Beneficiary Lender requires deposits to be made pursuant to under this Section 1.05Section, Trustor Borrower shall deliver to Beneficiary Lender all tax bills, bond and assessment statements, statements of for insurance premiums, and statements for any other obligations referred to above as soon as Borrower receives such documents are received by Trustordocuments. If Beneficiary Lender sells or assigns this Deed of Trustthe Loan, Beneficiary Lender shall have the right to transfer all amounts deposited under this Section 1.05 to the purchaser or assignee. After such a transfer, and Beneficiary Lender shall thereupon be released relieved and have no further liability hereunder under this Agreement for the application of such deposits, and Trustor Borrower shall look solely to such purchaser or assignee for such application and for all responsibility relating to such deposits.

Funds for Taxes and Insurance. If an Event of Default has occurred under this Deed of Trust or under any of the Related Agreements, regardless of whether the same has been cured, then thereafter at any time Beneficiary may, at its option (a) Mortgagor shall pay to be exercised upon thirty Mortgagee a sum equal to (30i) days' written notice to Trustor, require the deposit with Beneficiary or its designee by Trustor, at the time of each payment of an installment of interest or principal under the Note, of an additional amount sufficient to discharge the obligations of Trustor under Sections 1.02 and 1.04 hereof as and when they become due. The determination of the amount payable and of the fractional part thereof to be deposited with Beneficiary shall be made by Beneficiary in its sole discretion. These amounts shall be held by Beneficiary or its designee not in trust and not as agent of Trustor and shall not bear interest, and shall be applied to the payment of the obligations in such order or priority as Beneficiary shall determine. If at any time within thirty (30) days prior to the due date of any of the aforementioned obligations the amounts then on deposit therefor shall be insufficient for the payment of such obligation in full, Trustor shall within ten (10) days after demand deposit the amount of the deficiency next installment of taxes and assessments levied or assessed against the Property, and/or (ii) upon an Event of Default, the premiums which will next become due on the insurance policies required by this Mortgage, all in amounts as estimated by Mortgagee, plus any reasonable reserves required by Mortgagee less all sums already paid therefore or deposited with BeneficiaryMortgagee for the payment thereof, divided by the number of payments to become due before one (1) month prior to the date when such taxes and assessments and/or premiums, as applicable, will become due, such sums to be held by Mortgagee to pay the same when due. If the amounts deposited such escrow funds are in excess of the actual obligations for which they were depositednot sufficient to pay such taxes and assessments and/or insurance premiums, Beneficiary may refund any such excessas applicable, or, at its option, may hold as the same in a reserve accountbecome due, not in trust and not bearing interestMortgagor shall pay to Mortgagee, and reduce proportionately the required monthly deposits for the ensuing yearupon request, such additional amounts as Mortgagee shall estimate to be sufficient to make up any deficiency. Nothing herein contained No amount paid to Mortgagee hereunder shall be deemed to affect any right or remedy be trust funds but may be commingled with general funds of Beneficiary under any other provision of this Deed of Trust or under any statute or rule of law to pay any such amount Mortgagee and to add the amount so paid to the indebtedness hereby secured. All amounts so deposited no interest shall be held by Beneficiary or its designee as additional security for the sums secured by this Deed of Trust and upon payable thereon. Upon the occurrence of an Event of Default hereunder Beneficiary mayDefault, in Mortgagee shall have the right, at its sole and absolute discretion and without regard discretion, to the adequacy of its security hereunder, apply such any amounts or any portion thereof to any part of so held against the indebtedness secured hereby. Any such application If requested by Mortgagee, the Mortgagor shall provide to the Mortgagee, within 30 days of said amounts or the end of each fiscal year of the Mortgagor, evidence, in form and substance satisfactory to the Mortgagee, of payment of the insurance premiums and taxes described in Sections 5 and 6 hereof. (b) Upon payment in full of all sums secured by this Mortgage, Mortgagee shall promptly refund to Mortgagor any portion thereof to any indebtedness secured hereby shall not be construed to cure or waive any default or notice of default hereunderfunds held by Mortgagee. If Beneficiary requires deposits to be made pursuant to this Section 1.05under any paragraph hereof the Mortgaged Property is acquired by Mortgagee, Trustor Mortgagee shall deliver to Beneficiary all tax billsapply, bond and assessment statements, statements of insurance premiums, and statements for any other obligations referred to above as soon as such documents are received by Trustor. If Beneficiary sells or assigns this Deed of Trust, Beneficiary shall have the right to transfer all amounts deposited under this Section 1.05 no later than immediately prior to the purchaser sale of the Mortgaged Property or assigneeupon its acquisition by Mortgagee, and Beneficiary shall thereupon be released and have no further liability hereunder for any Funds held by Mortgagee at the time of application of such deposits, and Trustor shall look solely to such purchaser or assignee for such application and for all responsibility relating to such depositsas a credit against the sums secured by this Mortgage.

Funds for Taxes and Insurance. If an Event required by Mortgagee, Xxxxxxxxx shall pay to Mortgagee, at the times provided in said Note for payment of Default has occurred under this Deed installments of Trust or under any principal and interest, and in addition thereto, installments of taxes and assessments to be levied upon the Premises, and installments of the Related Agreements, regardless of whether premiums that will become due and payable to renew the same has been cured, then thereafter at any time Beneficiary may, at its option insurance hereinabove provided; said installments to be exercised upon substantially equal and to be in such amount as will assure to Mortgagee that not less than thirty (30) days' written notice to Trustor, require the deposit with Beneficiary or its designee by Trustor, at days before the time of each payment of an installment of interest or principal under the Note, of an additional amount sufficient to discharge the obligations of Trustor under Sections 1.02 when such taxes and 1.04 hereof as and when they premium respectively become due, Mortgagor will have paid to Mortgagee a sufficient amount to pay such taxes and premiums in full. The determination of the amount Said amounts paid to Mortgagee hereunder need not be segregated or kept in a separate fund and no interest shall accrue or be payable and of the fractional part thereof to be deposited with Beneficiary shall be made by Beneficiary in its sole discretionthereon. These Said amounts shall be held by Beneficiary or its designee not in trust and not Mortgagee as agent of Trustor and shall not bear interest, and additional security for the indebtedness secured hereby. Said amount shall be applied to the payment of the obligations in such order or priority as Beneficiary shall determine. If at any time within thirty (30) days prior to the due date of any of the aforementioned obligations the amounts then on deposit therefor shall be insufficient for the payment of such obligation in fullsaid taxes, Trustor shall within ten (10) days after demand deposit the amount of the deficiency with Beneficiary. If the amounts deposited are in excess of the actual obligations for which they were deposited, Beneficiary may refund any such excess, or, at its option, may hold assessments and insurance premiums when the same in a reserve accountbecome due and payable; provided, not in trust and not bearing interesthowever, and reduce proportionately the required monthly deposits that Mortgagee shall have no liability for the ensuing yearany failure to so apply said amounts for any reason whatsoever. Nothing herein contained shall be deemed to affect in any right or remedy manner limit the obligation of Beneficiary under any other provision of this Deed of Trust or under any statute or rule of law Mortgagor to pay any such amount taxes and to add maintain insurance as above provided. In the amount so paid to the indebtedness hereby secured. All amounts so deposited shall be held event of any default by Beneficiary or its designee as additional security for the sums secured by this Deed of Trust and upon the occurrence of an Event of Default hereunder Beneficiary Mortgagor, Mortgagee may, in at its sole and absolute discretion and option but without regard any obligation on its part so to the adequacy of its security hereunderdo, apply such said amount upon said taxes, assessments and insurance premiums, and/or toward the payment of any amounts or any portion thereof payable by Mortgagor to any part Mortgagee under the Mortgage and/or toward the payment of the indebtedness secured hereby. Any such application of said amounts hereby or any portion thereof to any indebtedness secured hereby thereof, whether or not then due or payable. Mortgagee shall not be construed to cure or waive any default or notice require payments hereunder so long as Xxxxxxxxx makes timely payment of default hereunder. If Beneficiary requires deposits to be made pursuant to this Section 1.05, Trustor shall deliver to Beneficiary all tax bills, bond taxes and assessment statements, statements insurance and provides Mortgagee with evidence of insurance premiums, and statements for any other obligations referred to above as soon as such documents are received by Trustor. If Beneficiary sells or assigns this Deed of Trust, Beneficiary shall have the right to transfer all amounts deposited under this Section 1.05 to the purchaser or assignee, and Beneficiary shall thereupon be released and have no further liability hereunder for the application of such deposits, and Trustor shall look solely to such purchaser or assignee for such application and for all responsibility relating to such depositssame.

Funds for Taxes and Insurance. If an Event of Default has occurred under this Deed of Trust or under any of the Related Agreements, regardless of whether the same has been curedoccurred, then thereafter Lender may at any time Beneficiary maysubsequent time, at its option to be exercised upon on thirty (30) days' days written notice to TrustorBorrower, require the Borrower to deposit with Beneficiary Lender or its designee by Trustordesignee, at the time of each payment of an installment of interest or principal under the Note, of an additional amount equal to one-twelfth (1/12) of the amount sufficient to discharge the obligations of Trustor Borrower under Sections 1.02 5 and 1.04 hereof 7 of this Deed of Trust as and when they become due. The determination calculation of the amount payable and of the fractional part thereof of it to be deposited with Beneficiary Lender shall be made by Beneficiary Lender in its sole and absolute discretion. These amounts shall be held by Beneficiary Lender or its designee not in trust and not as agent of Trustor Borrower and shall not bear interest, and shall be applied to the payment of any of the obligations Obligations under the Loan Documents in such order or priority as Beneficiary Lender shall determine. If at any time within thirty (30) days prior to before the due date of any of the aforementioned these obligations the amounts then on deposit therefor shall be insufficient for to pay the payment of such obligation obligations under Sections 5 and 7 in full, Trustor shall Borrower shall‌ deposit the amount of the deficiency with Lender within ten (10) days after demand deposit the amount of the deficiency with BeneficiaryLender’s demand. If the amounts deposited are in excess of the actual obligations for which they were deposited, Beneficiary Lender may refund any such excess, or, at its option, may hold the same excess in a reserve account, not in trust and not bearing interest, and reduce proportionately the required monthly deposits for the ensuing year. Nothing herein contained in this Section 10 shall be deemed to affect any right or remedy of Beneficiary Lender under any other provision of this Deed of Trust or under any statute or rule of law to pay any such amount and to add the amount so paid to the indebtedness hereby securedIndebtedness secured by this Deed of Trust. All Lender shall have no obligation to pay insurance premiums or taxes except to the extent the fund established under this Section 10 is sufficient to pay such premiums or taxes, to obtain insurance, or to notify Borrower of any matters relative to the insurance or taxes for which the fund is established under this Section 10. Lender or its designee shall hold all amounts so deposited shall be held by Beneficiary or its designee as additional security for the sums secured by this Deed of Trust and upon the occurrence of an Event of Default hereunder Beneficiary Trust. Lender may, in its sole and absolute discretion and without regard to the adequacy of its security hereunderunder this Deed of Trust, apply such amounts or any portion thereof of it to any part Indebtedness secured by this Deed of the indebtedness secured hereby. Any Trust, and such application of said amounts or any portion thereof to any indebtedness secured hereby shall not be construed to cure or waive any default or notice of default hereunderunder this Deed of Trust. If Beneficiary Lender requires deposits to be made pursuant to under this Section 1.05, Trustor 10 Borrower shall deliver to Beneficiary Lender all tax bills, bond and assessment statements, statements of for insurance premiums, and statements for any other obligations referred to above as soon as Borrower receives such documents are received by Trustordocuments. If Beneficiary Lender sells or assigns this Deed of Trust, Beneficiary Lender shall have the right to transfer all amounts deposited under this Section 1.05 10 to the purchaser or assignee. After such a transfer, and Beneficiary Lender shall thereupon be released relieved and have no further liability hereunder under this Deed of Trust for the application of such deposits, and Trustor Borrower shall look solely to such purchaser or assignee for such application and for all responsibility relating to such deposits.

Funds for Taxes and Insurance. If an Event of Default has occurred under this Deed of Trust or under any within ten (10) days after the delinquency date of the Related Agreementsobligations of Borrower under Sections 1.2 and 1.4 hereof, regardless of whether the same has Borrower fails to provide Lender with proof satisfactory to Lender that such sums have been curedtimely paid, then thereafter at any time Beneficiary may, at its option to be exercised Lender may upon thirty five (305) days' ’ written notice to Trustor, require the deposit with Beneficiary or its designee by TrustorBorrower, at the time of each payment of an installment of interest or principal under the Note, of an additional amount sufficient to discharge the obligations of Trustor Borrower under Sections 1.02 1.2 and 1.04 1.4 hereof as and when they become due. The determination of the amount payable and of the fractional part thereof to be deposited with Beneficiary Lender shall be made by Beneficiary Lender in its sole discretion. These Said amounts shall be held by Beneficiary or its designee Xxxxxx not in trust and not as agent of Trustor Borrower and shall not bear interest, and shall be applied to the payment of the obligations in respect to which the amounts were deposited or, at the option of Lender if the sums deposited shall be insufficient to pay all such obligations in full, to the payment of said obligations in such order or priority as Beneficiary Lender shall determine. If at any time within after thirty (30) days prior to the due delinquency date of any of the aforementioned obligations the amounts then on deposit therefor shall be insufficient for the payment of such obligation in full, Trustor Borrower shall within ten (10) days after demand receipt of written notice deposit the amount of the deficiency with BeneficiaryLender. If the amounts deposited are in excess of the actual obligations for which they were deposited, Beneficiary Lender may refund any such excess, or, at its option, may hold the same in a reserve account, not in trust and not as agent of Borrower and not bearing interest, and reduce proportionately the required monthly deposits for the ensuing year. Nothing herein contained shall be deemed to affect any right or remedy of Beneficiary Lender under any other provision of this Deed of Trust or under any statute or rule of law to pay any such amount and to add the amount so paid to the indebtedness hereby secured. All amounts so deposited shall be held by Beneficiary or its designee as additional security for the sums secured by this Deed of Trust and upon the occurrence of an Event of Default hereunder Beneficiary may, in its sole and absolute discretion and without regard to the adequacy of its security hereunder, apply such amounts or any portion thereof to any part of the indebtedness secured hereby. Any such application of said amounts or any portion thereof to any indebtedness secured hereby shall not be construed to cure or waive any default or notice of default hereunder. If Beneficiary Lender requires deposits to be made pursuant to this Section 1.05section, Trustor Borrower shall deliver to Beneficiary Lender true and correct copies of all tax bills, bond and assessment statements, statements of insurance premiums, and statements for any other obligations referred to above as soon as such documents the same are received by TrustorBorrower. If Beneficiary Lender sells or assigns this Deed of Trust, Beneficiary Lender shall have the right to transfer all amounts deposited under this Section 1.05 section to the purchaser or assignee, and Beneficiary Lender shall thereupon be released and have no further liability hereunder for the application of such deposits, and Trustor Borrower shall look solely to such purchaser or assignee for such application and for all responsibility relating to such deposits.