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EXHIBIT 3 which may artain a priority over this Deed of Trust, by Trustor malting any payment, when due, directly to the payee thereof Trustor will promptly furnish to the Beneficiary sill nuticc; of amounts due under this paragraph, and in the event Trustor makes pays-nent directly, I rustol. will promptly discharge any lien which has priority over this Deed of Trust; provided that'I'mstorwill not be required to discharge the lien of the heed oft ntst securing any senior lender orally other lien described in this paragraph so long as Tmsior will agree in writing to Lhe payment of the obligation secured by such lien in a manner acceptable to the Beneficiary, or will, in good faith, contest such lien by, or defend enforcement of such lien in, legal proceedhigs which operate to prevent the enforcement of the lien or forfeiture of the Security or any part thereof. 6. Hazard hisurance. Trustor will keep the Sectuity insured by Such instrance policies in such amounts and for such periods as called for in the Agreement. All insurance politics and renewals thprofwill include a standard mortgagee clause with standard lender's endorsement in Fovorof the holder of any senior lender and the Beneficiary as their interests may appear and in a fomt acceptable to the Beneficiary- Trustor- shall promptly furni It to the Beneficiary, or its designated agent, certificates of insurance, copies of all renewal notices and copies of all receipts of paid premiums. In the event of loss, Trustor will give prompt notice to the insurance carrier and the Beneficiary or its designated agent. The Beneficiary, or its designated agent, may make proof of loss if not made promptly by Trustor. The Beneficiary shall receive 30 days (10 days for nonpayment ol'premitan) advance notice of cancellation of any insurance policies rctµriretl undo this Se iUn. Unless the Beneficiary and Fruslor olherwise agree in writing, insurance proceeds, subject to the rights of any senior lender, will be applied to restoration or repair of the S, provided such restoration or repair is economically feasible and the ecttri[j� damaged Sccurityy of this City Deal of Trust is not thereby impaired. If such restoration or repair is not economically feasible or if the security of this (- ity Deed of Trust would be impaired, again, subject to the rights of any senior lender, the insurance proceeds wi I I be used to repay the loam Beau ed by this Deed of t rust, with the excess, if any, paid to l iustor. If the Security is abandoned by Trustor, or if Trustor fails to respond to the Beneficiary, or its designated agent within 30 days, front the date notice is mailed by either of them to Trustor that the insurance carrier offers to settle a claim for insurance benctits, the I lencficiary, or its designaled agent, is authorized to collect and apply the insurance proceeds at the Beneficiary's option tithe- to restoration or repair of the Security or to repay the loan. If the Security is acquired by the Beneficiary, all right, title and interest of TrnSlor in and to any insurance policy and in and to the proceeds thereof resulting front damage To the Security prior to the Sale or acquisition will pass to the Beneficiary to the extent of the soots Secured by this City Deed of Trust immediately prior to such sale or acquisition subject to the rights of any senior lender. 7. Preservation and Mainlenance of Securily. llusuor will Keep the Security in good repair and will not commit waste or permit impaimtett or deterioration ofthe Security. City Council 3 21 — 65 4/20/2021