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If the rents of the Property are not sufficient to meet the costs, if any, of taking control of <br />and managing the Property and collecting the rents, any funds expended by Beneficiary for such <br />purposes shall become indebtedness of Trustor to Beneficiary secured by this Deed of Trust <br />pursuant to Section 3.3 hereof. Unless Beneficiary and Trustor agree in writing to other terms of <br />payment, such amounts shall be payable upon notice from Beneficiary to Trustor requesting <br />payment thereof and shall bear interest from the date of disbursement at the rate stated in Section <br />3.3. <br />Any entering upon and taking and maintaining of control of the Property by Beneficiary <br />or the receiver and any application of rents as provided herein shall not cure or waive any default <br />hereunder or invalidate any other right or remedy of Beneficiary under applicable law or <br />provided herein. This assignment of rents of the Property shall terminate at such time as this <br />Deed of Trust ceases to secure indebtedness held by Beneficiary. <br />ARTICLE 3. <br />TAXES AND INSURANCE; ADVANCES <br />3.1 Taxes, Other Governmental Charges and Utility Charges. Trustor shall pay, or <br />cause to be paid, at least fifteen (15) days prior to the date of delinquency, all taxes, assessments, <br />charges and levies imposed by any public authority or utility company which are or may become <br />a lien affecting the Security or any part thereof; provided, however, that Trustor shall not be <br />required to pay and discharge any such tax, assessment, charge or levy so long as (a) the legality <br />thereof shall be promptly and actively contested in good faith and by appropriate proceedings, <br />and (b) Trustor maintains reserves adequate to pay any liabilities contested pursuant to this <br />Section 3.1. With respect to taxes, special assessments or other similar governmental charges, <br />Trustor shall pay such amount in full prior to the attachment of any lien therefor on any part of <br />the Security; provided, however, if such taxes, assessments or charges may be paid in <br />installments, Trustor may pay in such installments. Except as provided in clause (b) of the first <br />sentence of this paragraph, the provisions of this Section 3.1 shall not be construed to require that <br />Trustor maintain a reserve account, escrow account, impound account or other similar account <br />for the payment of future taxes, assessments, charges and levies. <br />In the event that Trustor shall fail to pay any of the foregoing items required by this <br />Section to be paid by Trustor, Beneficiary may (but shall be under no obligation to) pay the <br />same, after the Beneficiary has notified the Trustor of such failure to pay and the Trustor fails to <br />fully pay such items within seven (7) business days after receipt of such notice. Any amount so <br />advanced therefor by Beneficiary, together with interest thereon from the date of such advance at <br />the maximum rate permitted by law, shall become an additional obligation of Trustor to the <br />Beneficiary and shall be secured hereby, and Trustor agrees to pay all such amounts. <br />3.2 Provisions Respecting Insurance. Trustor agrees to provide insurance conforming <br />in all respects to that required under the Loan Documents during the course of construction and <br />following completion, and at all times until all amounts secured by this Deed of Trust have been <br />paid and all other obligations secured hereunder fulfilled, and this Deed of Trust reconveyed. <br />All such insurance policies and coverages shall be maintained at Trustor's sole cost and <br />expense. Certificates of insurance for all of the above insurance policies, showing the same to be <br />6 <br />144\221\1488737.2