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<br />DEED OF TRUST PAGE 3 <br />SPONSOR LOAN (COUNTY) <br />4.5. To pay all costs, fees and expenses in connection with this Deed of Trust, <br />including the expenses of the Trustee incurred in enforcing the obligation secured hereby and <br />Trustee's and attorneys’ fees actually incurred, as provided by statute. <br /> <br />4.6. Should Grantor fail to pay when due any taxes, assessments, insurance <br />premiums, liens, encumbrances or other charges against the Property, Beneficiary may pay the same, <br />and the amount so paid shall be added to and become a part of the debt secured by this Deed of Trust. <br /> <br /> 5. General Conditions. The parties hereto agree that: <br /> <br />5.1. In the event any portion of the Property is taken or damaged in an eminent <br />domain proceeding, subject to the rights of senior lien holders, Grantor shall have the right to apply <br />the entire amount of the award to restore and rebuild the Property, provided that (a) such proceeds <br />are sufficient to keep the Note in balance and rebuild the project in a manner that provides adequate <br />security to Beneficiary for repayment of the Note or if such proceeds are insufficient, then Grantor <br />shall have funded any deficiency; (b) Beneficiary shall have the right to approve plans and <br />specifications for any major rebuilding and the right to approve disbursements of insurance or <br />condemnation proceeds for rebuilding under a construction escrow or similar arrangement; and (c) <br />no material default then exists under the Note or this Deed of Trust. If the casualty or condemnation <br />affects only part of the project and total rebuilding is infeasible, then proceeds may be used for partial <br />rebuilding and partial repayment of the Note in a manner that provides adequate security to <br />Beneficiary for repayment of the remaining balance of the Note. If Grantor elects not to rebuild, the <br />entire amount of the award or such portion as may be necessary to fully satisfy this obligation secured <br />hereby, shall be paid to Beneficiary to be applied to said obligation. <br /> <br />5.2. By accepting payment of any sum secured hereby after its due date, <br />Beneficiary does not waive its right to require prompt payment when due of all other sums so secured <br />or to declare default for failure to so pay. <br /> <br />5.3. The Trustee shall reconvey all or any part of the Property covered by this <br />Deed of Trust to the person entitled thereto on written request of the Grantor and the Beneficiary, <br />or upon satisfaction of the obligations secured hereby and written request for reconveyance made <br />by the Beneficiary or the person entitled thereto substantially in the form of Exhibit B attached <br />hereto. <br /> <br />5.4. Power of Sale. Pursuant to Chapter 61.24 of the Revised Code of <br />Washington, upon default by Grantor under the Note without timely cure, and after written notice <br />of thirty (30) days, in the payment of any indebtedness secured hereby or in the performance of <br />any agreement contained herein, all sums secured hereby shall immediately become due and <br />payable. In such event and upon written notice of Beneficiary, the property shall be sold, in <br />accordance with the Deed of Trust Act of the State of Washington, by public auction to the highest <br />bidder. Any person may bid at the Trustee's sale. Subject to the rights of the beneficiary or <br />beneficiaries of any senior deed of trust, the proceeds of the sale shall be applied as follows: (1) to