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damages, judgments, penalties, costs, and expenses (including, <br /> without limitation, attorneys' fees) which may be imposed upon, <br /> asserted against, or incurred or paid by Beneficiary by reason of, <br /> on account of or in connection with any bodily injury or death or <br /> property damage occurring in or upon or in the vicinity of the <br /> Property through any cause whatsoever or asserted against hereunder <br /> or on account of any transaction arising out of or in any way <br /> connected with the Property or with this Deed of Trust, other than <br /> any claims arising out of the acts or omissions (constituting gross <br /> negligence or wilful misconduct on the part of) of Beneficiary or <br /> its officers and agents . <br /> 1 . 14 Beneficiary' s Performance of Defaults . If Grantor <br /> defaults in the payment of any tax, assessment, encumbrance or <br /> other imposition, in its obligation to furnish insurance hereunder, <br /> or in the performance or observance of any other covenant, <br /> condition or term in this Deed of Trust or the Contract, <br /> Beneficiary may, to preserve its interest in the Property, perform <br /> or observe the same, and all payments made (whether such payments <br /> are regular or accelerated payments) , and costs and expenses <br /> incurred or paid by Beneficiary in connection therewith shall <br /> become due and payable immediately. The amounts so incurred or <br /> paid by Beneficiary, together with interest thereon at the rate set <br /> forth in the Contract from the date incurred until paid by Grantor, <br /> shall be added to the obligations of Grantor to Beneficiary which <br /> are secured by the lien and encumbrance of this Deed of Trust. <br /> Beneficiary is hereby empowered to enter, and authorize others to <br /> enter, upon the Property or any part thereof for the purpose of <br /> performing or observing any such defaulted covenant, condition or <br /> term, without thereby becoming liable to Grantor or any person in <br /> possession holding under Grantor. <br /> Article II. Events of Default. <br /> 2 . 1 The term "Event of Default" or "Events of Default" , <br /> wherever used in this Deed of Trust, shall mean any one or more of <br /> the following events : <br /> (a) Default in the payment of principal or interest (or both) <br /> under the Contract or of any other amount due under the terms and <br /> conditions of the Contract secured hereby, and the expiration of <br /> any grace periods provided for therein; <br /> (b) Failure by the Grantor to observe and perform any <br /> covenant, condition or agreement on the part of the Grantor under <br /> the Contract or this Deed of Trust, or under any deed of trust <br /> listed as a Permitted Encumbrance, and such default shall not be <br /> cured within the applicable period, if any, provided for the curing <br /> thereof; or <br /> (c) There is any sale, encumbrance or other transfer or <br /> conveyance of the Property or any interest therein by the Grantor <br /> 7 <br />