Common use of MAINTENANCE OF TRUST PROPERTY Clause in Contracts

MAINTENANCE OF TRUST PROPERTY. If Trustor, within thirty (30) ----------------------------- days after receipt of written demand from Beneficiary (except in cases of emergency, when no demand shall be required), shall neglect or refuse to (i) keep the Trust Property in good operating condition and repair, (ii) replace or maintain the same as herein agreed, (iii) pay the premiums for the insurance which is required to be maintained hereunder, (iv) pay and discharge all Liens as herein agreed or (v) otherwise perform Trustor's Obligations within the time periods specified therefor (including any applicable cure periods), Beneficiary, at its option and sole election, may cause such repairs or replacements to be made, obtain such insurance, pay such Liens or perform such Trustor's Obligations. Any amounts paid by Beneficiary in taking such action, together with interest thereon at 12% per annum until repaid by Trustor to Beneficiary, shall be due and payable by Trustor to Beneficiary upon demand, and, until paid, shall constitute a part of Trustor's Obligations secured by this Deed of Trust. Beneficiary shall not be liable to Trustor for failure or refusal to exercise any such right. In making any payments pursuant to the exercise of any such right, Beneficiary may rely upon any bills delivered to it by Trustor or any such payee.

MAINTENANCE OF TRUST PROPERTY. If Trustor, within thirty (30) ----------------------------- days after receipt of written demand from Beneficiary (except in cases of emergency, when no demand shall be required), shall neglect or refuse to (i) keep the Trust Property in good operating condition and repair, (ii) replace or maintain the same as herein agreed, (iii) pay the premiums for the insurance which is required to be maintained hereunder, (iv) pay and discharge all Liens as herein agreed or (v) otherwise perform Trustor's Obligations within the time periods specified therefor (including any applicable cure periods), Beneficiary, at its option and sole election, may cause such repairs or replacements to be made, obtain such insurance, pay such Liens or perform such Trustor's Obligations. Any amounts paid by Beneficiary in taking such action, together with interest thereon at 12% per annum until repaid by Trustor to Beneficiary, shall be due and payable by Trustor to Beneficiary upon demand, and, until paid, shall constitute a part of Trustor's Obligations secured by this Deed of Trust. Beneficiary shall not be liable to Trustor for failure or refusal to exercise any such right. In making any payments pursuant to the exercise of any such right, Beneficiary may rely upon any bills delivered to it by Trustor or any such payee.. ARTICLE XI ---------- DEFAULT AND REMEDIES -------------------- The occurrence of an Event of Default under the Credit Agreement shall constitute an Event of Default under this Deed of Trust. Upon the occurrence of an Event of Default, Beneficiary, in its sole discretion and at its sole election, without notice of such election, and without further demand, may exercise any one or more of the following rights and remedies: