CONSTRUCTION DEED OF TRUST - Laserfiche WebLink

P1.— 154903 4. Upon default in performance of any obligation hereby secured or herein set forth, Beneficiary, or at its request, Trustee, at any time and from time to time, with or without notice to or demand upon Trustor, may perform the same (or any other obligation of Trustor hereunder) and pay such sums in such manner and to such extent as Beneficiary in its sole discretion deems advisable, without incurring any obligation so to do or releasing Trustor from any obligation and without thereby waiving or curing any default. Beneficiary and Trustee are each hereby authorized for such purpose to enter upon the property. Trustor will pay on demand all sums so expended, and will pay for any statement provided for by law in effect at the date hereof regarding the obligation secured hereby, provided that any amount demanded by the Beneficiary shall not exceed the maximum, if any, allowed by law at the time when said statement is demanded. 5. Trustor will appear in and defend all actions or proceedings purporting to affect the security hereof or any right or power of Beneficiary or Trustee hereunder, provided that Beneficiary and Trustee, or either of them, may appear in and defend any such action or proceeding, and Beneficiary is authorized to pay, purchase or compromise on behalf of Trustor any encumbrance or claim which in its judgment appears to or purports to affect the security hereof or to be superior hereto. Trustor will pay on demand all sums so expended and any reasonable costs so incurred. Trustor will promptly pay all fees, costs, and expenses of this trust, or which Beneficiary or Trustee may incur in connection with any action or proceeding to foreclose this Deed of Trust, to enforce any obligation hereby secured, or to prevent or redress any breach thereof, whether for attorneys' fees or otherwise. B. IT IS MUTUALLY AGREED THAT: 1. All compensation and every award of damages in connection with any condemnation for public use of, or injury to, all or any part of the property and all causes of action and recoveries for loss or diminution in value of the property, are hereby assigned and shall be paid to Beneficiary, to be used, held, paid or applied, in the absolute discretion of Beneficiary and without regard to the adequacy of its security, in the same manner and with the same effect as above provided for the disposition of insurance proceeds. Trustor agrees in this connection to execute such further assignments as Beneficiary may require. 2. Beneficiary's acceptance of late payment of any sum hereby secured shall not constitute a waiver of its right to require prompt payment when due of all other sums so secured, or to declare default as herein provided for any other failure so to pay, or to proceed with foreclosure or sale for any other default then existing. Beneficiary's acceptance of partial payment of any sum hereby secured after default shall not cure such default or affect any notice of default previously given or recorded unless such notice of default is expressly revoked in writing by Beneficiary. 3. At any time or from time to time, without liability therefor and without notice, and without releasing or otherwise affecting the liability of any person for payment of any indebtedness hereby secured, (a) Beneficiary in its sole discretion may extend the time for, or release any person now or hereafter liable for, payment of any or all such indebtedness, or accept or release additional security therefor, or subordinate the lien or charge hereof, or (b) Trustee, upon written request of Beneficiary and presentation of the c:HDGDT.EHI Page 4.