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time to time shall make necessary repairs, renewals and replacements thereto so that the Property
<br />shall be preserved and maintained. Trustor covenants that it shall comply with all federal, state
<br />and local laws, regulations, ordinances and rules applicable to the Property and the Project,
<br />including without limitation all applicable requirements of state and local building codes and
<br />regulations, all applicable prevailing wage laws, and all applicable statutes and regulations
<br />relating to accessibility for the disabled. Trustor shall not remove, demolish or materially alter
<br />any Improvement without Beneficiary's consent, shall complete or restore promptly and in good
<br />and workmanlike manner any building, fixture or other improvement which may be constructed,
<br />damaged, or destroyed thereon, and shall pay when due all claims for labor performed and
<br />materials furnished therefor. Trustor shall use the Land and the Improvements solely for
<br />purposes authorized by the Loan Documents, shall not commit or allow waste of the Property,
<br />and shall not commit or allow any act upon or use of the Property which would violate any
<br />applicable law or order of any governmental authority, nor shall Trustor bring on or keep any
<br />article on the Property or cause or allow any condition to exist thereon which could invalidate or
<br />which would be prohibited by any insurance coverage required to be maintained on the Property
<br />pursuant to the Loan Documents.
<br />7.6 Restrictions on Conveyance and Encumbrance: Acceleration. It shall be an Event
<br />of Default hereunder if the Property, any part thereof, or interest therein, is sold, assigned,
<br />conveyed, transferred, hypothecated, leased, licensed, or encumbered in violation of the Loan
<br />Documents or if any other Transfer (as defined in the Loan Documents) occurs in violation of the
<br />Loan Documents. If any such Transfer shall occur in violation of such requirements, without
<br />limiting the provisions of Section 8 hereof, all obligations secured by this Deed of Trust,
<br />irrespective of the maturity dates of such obligations, shall at the option of Beneficiary, and
<br />without demand, immediately become due and payable, subject to any applicable cure period.
<br />7.7 Inspections; Books and Records. Beneficiary and its agents and representatives
<br />shall have the right at any reasonable time upon reasonable notice to enter upon the Land and
<br />inspect the Property to ensure compliance with the Loan Documents. Trustor shall maintain
<br />complete and accurate books of account and other records (including copies of supporting bills
<br />and invoices) adequate to document the use of the Loan Proceeds and the operation of the
<br />Property, together with copies of all written contracts, Leases and other instruments which affect
<br />the Property. The books, records, contracts, Leases and other instruments shall be subject to
<br />examination and inspection by Beneficiary at any reasonable time following two business days
<br />prior notice.
<br />7.8 Charges, Liens, Taxes and Assessments. Trustor shall pay before delinquency all
<br />taxes, levies, assessments and other charges affecting the Property that are (or if not paid may
<br />become) a lien on all or part of the Property. Trustor may, at Trustor's expense, contest the
<br />validity or application of any tax, levy, assessment or charge affecting the Property by
<br />appropriate legal proceedings promptly initiated and conducted in good faith and with due
<br />diligence, provided that (i) Beneficiary is reasonably satisfied that neither the Property nor any
<br />part thereof or interest therein will be in danger of being sold, forfeited, or lost as a result of such
<br />contest, and (ii) Trustor shall have posted a bond or furnished other security as may reasonably
<br />be required from time to time by Beneficiary; and provided further that Trustor shall timely
<br />make any payment necessary to prevent a lien foreclosure, sale, forfeiture or loss of the Property.
<br />Page 7 of 25
<br />REV: OS -29-19 VR
<br />ATTY/AGR.2019.151/Redwood Oaks Associates 11 LP - A&R Deed of Trust
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