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<br /> or obsolcte. provideil ltrot such peeron:d property in r.cplaud wid� otiiee personn! property nt Icnst equnl In v�lue to the . , =-.
<br /> re�rinced peesonnl proparty, free feom any tltle rc�entlon devicc, cscutity ngreement or other encumbrancc. Such ��,
<br />� re�rlaccmcat of gcrsonal pmperty will be dccmecl nubjrrt to Qie security interest crented by this Dc�.^d of Trust.Truslae shall � =-
<br /> n�t pnrtldon or sut►divldr. the Property witl�out �ien�:ftcinry's prior wrttten cansent. Beneftciary or Ueneliclnry'e agents ;,'°
<br /> muy,nt Beaeficlnry's optian, enter tl�e Propeny nt nr�y reusonable time for thc purpose of inspecting ths Property. F�ny •
<br /> inrpcct5on of thc Pmpwrty ahnll bc entlrely far I�enr:ficlary's bc:neflt mid Trustor will in no wey rtily on [i�ncficiary's .
<br /> in�pcct��n. -
<br /> 13.AUTI�iQ1RITY TO P1i1tTOIt1Vx. If Trustor fails to pe�form nny uf Trustor'a duties under tt�is Deed af Trust,or nny other '
<br /> � mortgaBe,�l��ed of tn�st, security n�ecemcnt or otl�er�len document thlt hrs ptiorlry over thls Deed ot Trust, Beneflciary , ,
<br /> � mny,without rtotice,p�r�oitn d�e d��t9cs or cause dicm to be performed. Trustor uppoints laeneficiary� as attomey In fact to -
<br /> si13n Tivstor's nnme or pny nny umount necessary fne performance. If mny constnicti�n on the Property is discontinued or �•
<br /> n4t carried on in a reasonnble mnnner, Beneficinry rvay do whatever is necessary to pmtect Beneficiary's security inter�tst � �
<br /> in tFie jr ro�rty.'Ihls mAy Include comnleting the conrurucdon. _
<br /> . &:ncficiary's�i�iu to perform for Trusror shnll not cre.�te an obligation to perform, snd Beneflciary's failure to perform •� ' �
<br /> wi�l n4t prcclude BcnnftciFUy from exercisinII tuiy of Beneficiary's other ri�hts under the law or this Deed of Trust. Any � ;_�,�"�:�
<br /> . ' an�oun.ts puid by IIcneftc�ary for insuring, pr�erv'v�g or oWerwise protecting the Ptoperty and Beneficlary'e security , _
<br /> ias.�rest wil�be due on demaad and will bear tutemst from the date of the payrnent until paid in full at che interest rate in ':"'�;;�.�.-
<br /> ePfect faom time to dme nccottfing to tl�c terw.4 of the�vidence of Debt. . ��`�_�=•-'�-
<br /> Y4.A5S[�GNIVI�N'lf OT�.�AS� �lW1S RENf�. Tnisufr Irrevocabiy grants,convcys and sclls as additional securiry all the _ - _
<br /> ri�ht,tide aud tnterest in xnd to any and all: =-•�
<br /> � A. Existiag or ft�ture leases, sublcases,licenses,guaranties and aay other written or verbal agreements for the use and ,
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<br /> occupuncy of any �ortion of tl�c Property, uacluding any eatensions, mnewals, modifications or substitutions af „ ��
<br /> such agrcemente(sill refennd to as"I.eases"). • '�"
<br /> ��•:r , B. Rents,issues and pmfits (ell referred to as"ticats"), in�luding but not lin�aited ao security deposlts,minimum reat, • -
<br /> - -. pe�centage rent, additional mnt, commnn a.rea maintenance charges, p�rking chazges. real estate taxes, other
<br /> � applicable taxes, in�irnnce prCmlu�co1�q'ibr�tloIIB, liquidated dsinages following default, c;anoellation premiums, � � -
<br /> .. �,�. loss of rents"insurance,revenues,roytilties�pmceeds,bonuses, and a!1 ri�hts and claims which Tntstor tnay have " ,: :�,
<br /> ! ;. , t�at in any�vay pertainA ta or is on account��j the use or occupancy of the whole or any part of the Property. ' ,:„��� :
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<br /> � Trustc�r will ro tl rovide Beneficl witli tnte and corn�ct co ies of all existin and futur�e Leases. Tlvstor may '`�°'�`` � '�
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<br /> :-_,_ __— r�llrr.r,mtei e,�v and use the Rents so lonu tss'�'rustor Is not ua defatdt.Tn�stor will not collect in advance auy Rents � �
<br /> ' � J �"_� due im tLture lease pr.riod�a,unless Tn�stor firei oUa�ains Beaeficiary's written consent. Upon default.Tnastor will receive � -� .;
<br /> a�y R,euts in trust for P�cneficiary and Trustor�vill�ot wnunin�le the Rents w�i�any other funds.Any amounts oollected `
<br /> ' j �� sttall tx applied at Beneticinry's discreiion to paymr.°nts on the Szcured Debt aa therein prov>drd,to costs of managing tkie �,:, '•
<br /> Praperty, including, but nc,t 1'unite�l¢o, all taxes, nssessments, insurance premiums, rzpairs. and commiasions to tent�! ;;;;t# r�`
<br /> ' a�cnts.and to any othes neccssary releted expensc�f.ncluding Beneficiary's attameys'fees,paralegal fee.s and court oosta. �` :.;)�
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<br /> . ;. Trucwr acknovrledgcs that this assi�nent is i�erf��ste�upon the recording of�this Dced of Tmst and that Beneficiary is ... .
<br /> � catitled w notify any of Trustor's ttnants to rnnlx�e payment of rents due or co beoome due to Beneficlary. However, ��,�'��'
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<br /> '� 13enc�aciary agrces that only on default will 13eneiiclary noti�y �'rusror and Trustor's tenauYs aad make demand that all �
<br /> �� future Reats be pa�d directly W Beneficiary. OII receiving the nfltice of default, T:usror wlll endorse aad deliver W — _
<br /> - • � Bcatc�iciary any payments of Rent in Truswr's pos;�sssion. -- _- Y
<br /> „ � Truator covenants thm no defarlt exists under the 4.eases or any applicable landlord law.Truswr also cov�enanls and agc�ees .: -��
<br /> tc, mnintaira, and to retjui�the tenants to oomply with, the Leases and any applicable law. Trustor wilIl p��mptly noUfy ` "'°'
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<br /> � = Gene�ciary of any noncomplience. If Tn�stor ne�lect�or re f uses to en force comp liance wi t h t he terms o f t he I.e a s e s,t h m n �,;_,�__
<br /> `i 8��te�aciary may, at Beucficiary's opdon. enfo�ce c;ompliance. Trustor will obtain Beneficlary's written auth�rizax�an —-- ._
<br /> • . isefo� Tnacwr consens�to sublet, modify,cava;l, or otherwise alter the I,ease,s. to accept the sunender of the Proper�y �-�"°`
<br />�`•�`' " cover�d by such I.cases(unless t�e Leases so r�:quire), or to assign, wmpa�om:se ar encumber the Leases or any future
<br /> =� . R�nts. Tcustor will tar]d Beneficlary �armless and indemnify Beneficiary for any and all liabiliry. loss or demage that �?".__
<br /> t�',�' B�ueficiary may inciu as a consequence of the assignment under t1�Is section. `""�'���`
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<br /> -- . •�;'" tS.C�MDO:NYIVIUMS; 1'LANNCD UN[T D�VIELOPMENTS. If the I�roperty includes a unit in a condominium or a '__�ti--.- -
<br /> s' ple�nned unit development. Tcustor wili perform all of Tcustar's duties under the covenants,by-laws,or regulatIons of xhe ��i>�a°"`�----
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<br /> - cc�nd�mininm or planned unit development. :'i� ti, . -',--
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<br /> �' t�r.D}EFAUI.T.Trustor will be in defnult lf an of the followin occur: ' �`'?�'�a%�' h
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<br /> • A. ,My party obligated on We Secum.rl Det�t fails to make pag;�nt when due; ,�•;��`- - �;��}.�%:.
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<br /> � B. A breacl�of any tem�or covennnt in ehis Deed of'C'ruaz, Any prior mortgage ar any construction loan agreem�.�nt, .. "°"�r�t�;ti-'�•_.
<br /> security agroemcnt or any other docwnent evidencing, guarantying, sscuring or oWanvise relating to the Secuted � .-"�-���
<br />_ Del�t; , '.'l_
<br />_ C. Thc making or f�tnishing of any verbal or written represEnsation, statement or warranty to Bepeficiary that is false •
<br /> . ' ��' or incorn:ct in any material respect by Trustor or any gcr��n or entiry obligated on the Secured Debt; � � '�.•
<br />- ' "' D. 'R�r dead�, dissolution. appflintmeut of a m�eiver for, oq lpplication of any debtor mlief la�v to,Tn�stor or��r � , ' '
<br /> person or entity obliIIatecl on the Scciued Debt:
<br />- fi. A�ood faith �nelief by Beneficiary ut any time that Beneficiary is icssecurE with respecx to amy person or eutity
<br />- oUligated on the Secured Debt or thut the prospect of any paymeat is i�paimd or the Property is impaired; '•;��, •
<br />-° C. A muterial adverse change in Tn►su�r's business includin�ownership.management,and financial a:onditlons.which ;�%'
<br /> BEBeficiary itt its opinion believes impairs�he value of th�Property or repayment of the Secured Debt;or -
<br />-`� f5 A....t...,......ww.le o..,n.�.,.i f.o m.NV�en�her wi11 rv�.vr:6�un er�v�rweoivo nmoinn nf hiohlv PM'���f�P�Ol1fI nr!n t}u. .. .
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<br /> _ conversion of�vetlands to produa:an agriculturul conunextity,as further explained in 7 C.F.R.Part 1440, Subpart �
<br /> _ G, E�chibit ht. .
<br /> - 1'f.R,EMdEDIIES ON DL�I�AULT. In some instunres, federal and state la�v will requirc Beneficiary to provide Tcustor with
<br /> - nc�tice of t3ie rip,ht to cure, mediation notices or other notices and may establish tirt�schedules for foreclosure aaions.
<br /> Subj�:ct to th�se limitattons, if any, B��eficiary may accelerate the Seaumd Debt and foreclose this Deed of Trust in a
<br /> ntmutcr pr�nvid�d by law if this Trostor i�in default.
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<br /> O t99y(fmkcro 6yttonp.irt�,Sl GWO.NN 11 000�79)�7�411 Form Ap,CO DT�NE 9/i7�90 _ . -
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