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<br />ATTY/RESO.0020/CC RESO APPROVING AMENDMENTS TO HPP GUIDELINES – EXHIBIT B
<br />REV: 05-04-26 LF
<br />Page 44 of 86
<br />of Trust, or for filing, registering, or recording this Deed of Trust. Trustor shall, on demand,
<br />execute and deliver, and hereby authorizes Trustee and Beneficiary, or either of them, to execute
<br />in the name of Trustor, to the extent it may lawfully do so, one or more financing statements,
<br />chattel mortgages, or comparable security instruments, to evidence more effectively the lien
<br />hereof. Immediately upon the execution and delivery of this Deed of Trust, and thereafter from
<br />time to time, Trustor shall cause this Deed of Trust, and any security instruments creating a lien or
<br />evidencing the lien hereof upon any personal property and each instrument of further assurance,
<br />to be filed, registered, or recorded in such manner and in such places as may be required by any
<br />present or future law in order to publish notice of and fully to protect the lien hereof upon, and the
<br />title of Trustee to, the Property encumbered hereby.
<br />15. Condemnation and Insurance Proceeds. Immediately upon obtaining
<br />knowledge of the institution of any proceedings for the condemnation or other taking of all or any
<br />portion of the Property, or knowledge of any casualty damage to the Property, or damage in any
<br />other manner, Trustor shall immediately notify Beneficiary thereof. Trustor hereby authorizes and
<br />empowers Beneficiary as attorney-in-fact for Trustor to make proof of loss, to adjust and
<br />compromise any claim under the insurance policies covering the Property, to appear in and
<br />prosecute any action arising from such insurance policies, to collect and receive insurance
<br />proceeds, and to deduct therefrom Beneficiary’s expenses incurred in the collection of such
<br />proceeds; provided, however, that nothing contained in this Section shall require Beneficiary to
<br />incur any expense or take any action hereunder. Trustor hereby authorizes and empowers
<br />Beneficiary, at Beneficiary’s option, as attorney-in-fact for Trustor, to commence, appear in, and
<br />prosecute, in Beneficiary’s or Trustor’s name, any action or proceeding relating to any
<br />condemnation or other taking of all or any part of the Property, whether direct or indirect, and to
<br />settle or compromise any claim in connection with such condemnation or other taking. The
<br />proceeds of any award payment or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking, whether direct or indirect, of the Property, or any part thereof,
<br />or for conveyances in lieu of the Property, or any part thereof, shall be paid to Beneficiary. The
<br />foregoing powers of attorney are coupled with an interest and are irrevocable. Trustor hereby
<br />authorizes Beneficiary to apply such awards, payments, proceeds or damages relating to
<br />condemnation of the Property and insurance covering the Property, after the deduction of
<br />Beneficiary’s expenses incurred in the collection of such amounts, subject to the requirements of
<br />applicable law and the provisions hereof, to restoration or repair of the Property or to payment of
<br />the sums secured by this Deed of Trust. Beneficiary shall be under no obligation to question the
<br />amount of any compensation, awards, proceeds, damages, claims, rights of action, and payments
<br />relating to condemnation or other taking of the Property or insured casualty affecting the Property,
<br />and may accept the same in the amount in which the same shall be paid. Trustor shall execute
<br />such further evidence of assignment of any awards, proceeds, damages or claims arising in
<br />connection with such condemnation or taking or such insurance as Beneficiary may require.
<br />Notwithstanding the above, the Beneficiary shall release all insurance and condemnation proceeds
<br />to Trustor to be used to reconstruct the improvements on the Property provided that Beneficiary
<br />reasonably determines that such restoration, repair or rebuilding is economically feasible. If such
<br />insurance proceeds shall be insufficient for such purposes, Trustor shall make up the deficiency.
<br />If the Project is subject to a partial condemnation or taking, then the proceeds received therefrom
<br />shall be applied to restore the Project taken, provided the Beneficiary determines that such
<br />restoration is economically feasible and no default exists under the Loan Documents following the
<br />expiration of all applicable cure periods. If the Project is subject to a total condemnation, or if
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