Common use of Payment of Trustor's Obligations Clause in Contracts

Payment of Trustor's Obligations. Whenever under any provision of this Deed of Trust Trustor shall be obligated to make any payment or expenditure, or to do any act or thing, or to incur any liability whatsoever, and Trustor fails, refuses or neglects to perform as herein required, Beneficiary shall be entitled, but shall not be obligated, to make any such payment or expenditure or to do any such act or thing, or to incur any such liability, all on behalf of and at the cost and for the account of Trustor. In such event, the amount thereof shall be paid by Trustor on demand of Beneficiary. Such amount shall be added to the principal balance due under the Notes and shall accrue interest thereon in accordance with the terms of the Indenture. Without limiting the generality of the foregoing, any act or payment by Beneficiary to cure, forestall, prevent or mitigate an Event of Default hereunder shall be at the sole option of Beneficiary, shall be at the cost of Trustor and shall be reimbursed to Beneficiary as above provided. Beneficiary shall not be bound to inquire into the validity of any apparent or threatened tax, assessment, adverse title, lien, encumbrance, claim, or charge before making an advance for the purpose of preventing, removing or paying the same. Beneficiary shall be subrogated to all rights, equities and liens discharged by any such expenditure. All funds advanced by Beneficiary pursuant to this Section 4.07 or any other provision of this Deed of Trust for the performance of any obligation of Trustor or to protect Beneficiary's security shall be deemed obligatory advances regardless of the person or entity to whom such funds are furnished and such advances, together with interest thereon, shall be secured by this Deed of Trust.