DISCHARGE OF THE OBLIGATIONS BY THE PARTY TO WHOM SUCH DISPOSITION WILL BE MADE
(WITH OR WITHOUT THE RELEASE OF GRANTOR FROM LIABILITY FOR SUCH INDEBTEDNESS AND
OBLIGATIONS), (VIII) THE EXECUTION OF ASSUMPTION AGREEMENTS, MODIFICATION
AGREEMENTS, SUPPLEMENTAL LOAN DOCUMENTS, AND FINANCING STATEMENTS, SATISFACTORY
IN FORM AND SUBSTANCE TO BENEFICIARY, (IX) ENDORSEMENTS (TO THE EXTENT AVAILABLE
UNDER APPLICABLE LAW) TO ANY EXISTING MORTGAGEE TITLE INSURANCE POLICIES
INSURING BENEFICIARY'S LIENS AND SECURITY INTERESTS COVERING THE MORTGAGED
PROPERTY, AND (X) REQUIRING ADDITIONAL SECURITY FOR THE PAYMENT OF THE
INDEBTEDNESS AND PERFORMANCE AND DISCHARGE OF THE OBLIGATIONS.
PAYMENT AFTER ACCELERATION. IF, FOLLOWING THE OCCURRENCE OF AN EVENT OF DEFAULT,
AND AN ACCELERATION OF THE INDEBTEDNESS OR ANY PART THEREOF BUT PRIOR TO A
FORECLOSURE SALE OF THE MORTGAGED PROPERTY, GRANTOR SHALL TENDER TO BENEFICIARY
THE PAYMENT OF AN AMOUNT SUFFICIENT TO SATISFY THE ENTIRE INDEBTEDNESS OR THE
PART THEREOF WHICH HAS BEEN ACCELERATED, SUCH TENDER SHALL BE DEEMED A VOLUNTARY
PREPAYMENT PURSUANT TO THE INDEBTEDNESS AND, ACCORDINGLY, GRANTOR, TO THE EXTENT
PERMITTED BY APPLICABLE LAW, SHALL ALSO PAY TO BENEFICIARY THE PREMIUM, IF ANY,
THEN REQUIRED UNDER THE INDEBTEDNESS OR THE LOAN DOCUMENTS IN ORDER TO EXERCISE
THE PREPAYMENT PRIVILEGE CONTAINED THEREIN.
CONTEST OF CERTAIN CLAIMS. GRANTOR SHALL NOT BE IN DEFAULT FOR FAILURE TO PAY OR
DISCHARGE ANY IMPOSITION OR MECHANIC'S OR MATERIALMAN'S LIEN ASSERTED AGAINST
THE MORTGAGED PROPERTY IF, AND SO LONG AS, (A) GRANTOR SHALL HAVE NOTIFIED
BENEFICIARY OF SAME WITHIN FIVE (5) DAYS OF OBTAINING KNOWLEDGE THEREOF;
(B) GRANTOR SHALL DILIGENTLY AND IN GOOD FAITH CONTEST THE SAME BY APPROPRIATE
LEGAL PROCEEDINGS WHICH SHALL OPERATE TO PREVENT THE ENFORCEMENT OR COLLECTION
OF THE SAME AND THE SALE OF THE MORTGAGED PROPERTY OR ANY PART THEREOF, TO
SATISFY THE SAME; (C) GRANTOR SHALL HAVE FURNISHED TO BENEFICIARY A CASH
DEPOSIT, OR AN INDEMNITY BOND SATISFACTORY TO BENEFICIARY WITH A SURETY
SATISFACTORY TO BENEFICIARY, IN THE AMOUNT OF THE IMPOSITION OR MECHANIC'S OR
MATERIALMAN'S LIEN CLAIM, PLUS A REASONABLE ADDITIONAL SUM TO PAY ALL COSTS,
INTEREST AND PENALTIES THAT MAY BE IMPOSED OR INCURRED IN CONNECTION THEREWITH,
TO ASSURE PAYMENT OF THE MATTERS UNDER CONTEST AND TO PREVENT ANY SALE OR
FORFEITURE OF THE MORTGAGED PROPERTY OR ANY PART THEREOF; (D) GRANTOR SHALL
PROMPTLY UPON FINAL DETERMINATION THEREOF PAY THE AMOUNT OF ANY SUCH IMPOSITION
OR CLAIM SO DETERMINED, TOGETHER WITH ALL COSTS, INTEREST AND PENALTIES WHICH
MAY BE PAYABLE IN CONNECTION THEREWITH; (E) THE FAILURE TO PAY THE IMPOSITION OR
MECHANIC'S OR MATERIALMAN'S LIEN CLAIM DOES NOT
Deed of Trust - Page 23
CONSTITUTE A DEFAULT UNDER ANY OTHER DEED OF TRUST, MORTGAGE OR SECURITY
INTEREST COVERING OR AFFECTING ANY PART OF THE MORTGAGED PROPERTY; AND
(F) NOTWITHSTANDING THE FOREGOING, GRANTOR SHALL IMMEDIATELY UPON REQUEST OF
BENEFICIARY PAY (AND IF GRANTOR SHALL FAIL SO TO DO, BENEFICIARY MAY, BUT SHALL
NOT BE REQUIRED TO, PAY OR CAUSE TO BE DISCHARGED OR BONDED AGAINST) ANY SUCH
IMPOSITION OR CLAIM NOTWITHSTANDING SUCH CONTEST, IF IN THE REASONABLE OPINION
OF BENEFICIARY THE MORTGAGED