Agmt01 Shores Childcare, LLC - Max Keech

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written notice to Beneficiary. Trustor shall from time to time provide Beneficiary with - certificates of insurance evidencing that such insurance is in force. Disposition of insurance proceeds shall be governed by the terms of the Lease. Beneficiary's Performance of Defaulted Acts; Subrogation 5. In case of default on the part of Trustor under this Deed of Trust and the failure of Trustor to cure such default within the applicable notice, cure or grace period, if any, Beneficiary shall have the fight, but not the obligation, to make any payment or perform any act herein or in or with respect to any of the Obligations required of Trustor, in any form and manner deemed expedient, and may, but need not, make full or partial payments of principal or interest on prior encumbrances, if any, and purchase, discharge, compromise or settle any tax lien or other prior Lien on title or claim thereof, or redeem from any tax sale or forfeiture affecting the Mortgaged Property or contest any tax or assessment. Anything in the preceding sentence to the contrary notwithstanding, Beneficiary may immediately take action to cure any default in the payment of taxes or insurance premiums or any other defaults that create an emergency regarding the priority or validity of the lien of this Deed of Trust or the physical condition of the Mortgaged Property without regard to Trustor's cure rights, if any. Except in the event of such an emergency, Beneficiary agrees to notify Trustor of Beneficiary's payment or performance. All monies paid for any of the purposes herein authorized and all expenses paid or incurred in connection therewith, including attorneys' fees and expenses, and any other monies advanced by Beneficiary to protect the Mortgaged Property or the lien hereof, shall be additional Obligations secured hereby immediately due and payable with interest thereon at the rate of interest in the Note until paid. Inaction of Beneficiary shall never be considered as a waiver of any fight accruing to it on account of any default on the part of Trustor under this Deed of Trust. Should the proceeds of the Obligations or any part thereof, or any amount paid out or advanced hereunder by Beneficiary, be used directly or indirectly to pay off, discharge or satisfy, in whole or in part, any Lien upon the Mortgaged Property or any part thereof on a parity with or prior or superior to the lien hereof, then as additional security hereunder, Beneficiary shall be subrogated to any and all fights, equal or superior titles, Liens and equities, owned or claimed by any owner or holder of said outstanding Liens, charges and indebtedness, however remote, regardless of whether said Liens, charges and indebtedness are acquired by assignment or have been released of record by the holder thereof upon payment. Default 6. The following shall be a default ("Event of Default") hereunder: if (a)any payment due under or with respect to any of the Obligations, or any other payment due in accordance with the terms of this Deed of Trust, is not paid when due and such nonpayment continues for a period of ten (10) days after such payment first becomes due; or (b) Trustor fails to carry or maintain any of the insurance required to be maintained under this Deed of Trust and such failure continues for thirty (30) days after written notice of default; or (c) any of the other covenants, agreements of conditions, hereinbefore or hereinafter contained, required to be kept or performed or observed by Trustor in this Deed of Trust, are not observed or perfomxed and such default is not remedied by Trustor within thirty (30) days after notice from Beneficiary to the Trustor; provided, however, that if such covenant agreement or condition is of such a nature that Trustor cannot cure the default within said thirty (30) days, and Trustor promptly 17996.00003XBGLIB 1\1083970.6 5