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<br /> or obs�lete, provided thut sucu person�l praperty is replac:ed with otlier pers�nal property nt east equn n vn u o thc � �.
<br /> replaced persnnal property, free from nny title retention de��ice, security agreement or od�cr encumbrnnr.c�. ;�ualt !
<br /> replacement of personul proPerty will be dcemed subject to dte security interest created by this Deed of Tn�rt.Tntnt�r r1i�I1 j �
<br /> not partitian or subdivide the Property without Deneficiary's pr�or written consent. Beneficinry ar Aencfir.inry''� nnR:t�te � �
<br /> �� �Y� aion of the Pr,operty shalltbe entpely for Beneficiery�g benefie1und Trustor will in noswnyi rciy��on Ii�n�nfic.inry y �
<br /> inspe�t
<br /> lnsp�tion.
<br /> 13.AUI'Ii0R1TY TO PERFORM• Ia T�mentf or'other lien document that�has pr tority over chis Dced of Trust�II nrf r.isry �
<br /> � � I mort a e, dced of tcust, security s erformed.Trustor appoints Beaeftcinry ns attornr.y in fnr.t to
<br /> ' may gwlthout notice,perform t�e duties or cnuse them to be p
<br /> sign Trustor's name or pAy ar►y amauat necessary for pe��o Whatever ie necesseary tol protecthB neftciary'ie sccu Ity inceimst
<br /> not carrted on In a reasonable manner, �eneficlary maY
<br /> in the Property.'I'h1s may include campletins the constructlon. _,
<br /> ' . Seneficiary's right to perform for Tni�is���°of IIicneficiury'saather riE�t��erathe a w orCtb si ,Ae��of Tni��t�Any y .�::,;�_.;� '
<br /> will noc preclude Benefcciary from ex & Y .-_•�-�-�•�=--�-
<br /> � amounts pai¢ bY 8eneficiary tor insuring, prescrviug or othe�nae protp�8�uatil pnid i Aful Rc�t}o�lntcre�t�cr lu -•,�-�--: Y
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<br /> ' Interest will be due on dcmand and�vill bear inurest frum die clate uf,the uyme ,;,�_�_
<br /> �.�<'`��: effect fram time to time acconling te the tercns of the Evidence of Debt. --��-�—,
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<br /> f� 14.ASSIGNMEN'1 O�Y.iEASTS ANp�Id'fi'�•Trustor irrcvQCab1Y gr�'ntF, canveys and sclls as additionnl security all tha � � - -
<br /> dsht,title and interest in and to any and all: ,���:.:.��•,�
<br /> '; 'i .; A. Existing or future leases, subleases,r i enses�6"uunranta�Y extensions,Vrentewals, rr�d ficat onsEOrs i bAtitutiaun of `'�i� ,r,-v
<br /> occupancy of any portion of the P p rtY - • �'T•��
<br /> ;,,
<br /> �; -
<br /> � �� such agreements(a11 refened to as"Leases")• . '.:� •
<br /> asits,minlmum�Y:at� � . .. ;. � —
<br /> � B. Rents,issues and profits (all referced to as"Rente"),including but not limited to c��ry d�A1 astatn taxes, other �`•`�;,::' ':� ;;;;-;',;,� :
<br /> 't percentage rent. additional rent, com�on azeu main�enance charges, ParkinE s.::� -
<br /> . ,,� applicable taxes� insutance Pr���contributione, liquidated damages following dvfnult, cAnaellntlon pmmiums� �,„ .
<br /> "loss of nnts" insurance,reveaues.roYaltles�Praceeds,bonuses, and all dghts and cluicas which Tsusta��rnaY have �,
<br /> ''�l.: ���:;j ;
<br /> ' that ia any way pertains to or is on nccount of the use or occupancy of the whola or any pert of the Praper+t�• + j'� �
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<br /> •• � t � Trustor will promptly provide Beneficiaiy with true and correct copies of all existing nn� futura Leases• 10! �y ,
<br /> ._. _,_ — �ZZ�;���(�e,enJoy and use the Rente so long as Trusror is not in defaultP.Tcustor will noi collect in advance anY Rents ,��;,�; % �`�� �' '
<br /> ..(� _�ncr.nt. Uooa defnuli. Tn�stor will teceive ;' "��`�
<br /> due in future lease periods.unless Trustor nrsc o buiiny;�ac fi c#az"i o•^• .
<br /> � any Rents in cruet for Beneficiary and Tru�sror will not commin�le the Rents with twy other funds.AnY a�n°��C°I i�t� F 1 .
<br /> . �';, �' ' shall be applied at aeneficiary's discretion to payments on the 5ecured Debt as therein provided,to costs of manug'sag the
<br /> ', �, property� including, but not limited to. all taxes, assessments, insurance premiums. �ePai!°� and�°m�tiRSlons to rental ;i
<br /> �• agents,and to any other necessary reluted eapenses including BeneSciacy►'s attomeys'fecs,p
<br /> aralegal fees and court coste. '�i' '�
<br /> .s Tnistor ecknowledges thai �his assignment is perfec[�d upon�he rervrding ui this Dcxd of Trust uuJ that Bcneficiary is
<br /> � - ceaitied�to-aeEify�cu►y af•�tor'a teaxnts co snak6 PaY�;��Qf rents.�lue or to b,ecolTl� due ta Beneficisry. However,
<br /> ax
<br /> �� Benesciary agrees that only on defnult.will Beneficiury nanfy Trustor and Trus[or's tenants and make demaad that al �
<br /> � ' ' fututa Rents be paid dir�cdy co Beneficiary. On mceiving the notloe of default, Truator will endorse and deltver so
<br /> . � Beneficiary any paYments of Rent in'1'rustor's possession.
<br /> -,,,
<br /> Trustor covenants t1�at no defuult exista under the Leases or any applicabl�lxnclloli�lb e lawtTrustor will promptlY o� '��
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<br /> �. . to maiatain, end to require ttie tenanta co comply with. the Leases an any aPp �.��
<br /> Beneficiary of any noncomplia►nce•If Trusror neglects or refuses to enforce coraplian�e with the terms of the Leases. thea �����
<br /> ? . 13cnefictary muy. at Beneftciary's option, enforce compliance. Trustor will obt�in Beneficiary's written authorizadon --
<br /> :� before Tcustor wnsenta to sublet,modify,cancel, or otherwise alter th:Leases, to ec.cept the surrender of the Property
<br /> �t�. covered by such Leases(B neficie harmlessrand1�d�emnify Ben'efl��for�u'Y�aadnall�li b31 y. lo�ss or dumage that ���--
<br /> Renta. Trustor wlil hold �Y ��,.�,..�
<br /> � � � +.� � Beneficiary�Y����a�nsequence of the assignment uader this secs9on. �.:�;�
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<br /> '. <: �nclirJes a unit in a condominium or a ���^"
<br /> 3�`, 15.CONDOMINIUMB; PLANNED iJNIT DEVELOPMENTS. If the Property � �"'=__ _
<br />�� .?�� planned unit development,Trustor will perform alt of Trustor s dudes under the covenants. by-lawa,or regulaUons of the
<br /> : . � . ' condominium or planned unit develnpment.
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<br /> ' 16.DEFAULT.Tnutor will be in default if any of the followtng occur: :��;=;;.�'�<�'�.>
<br /> ,.-..�,
<br /> ' -S A. pnY party obligated on the Secural Debt fails to mnke payu�ent �or mort a e or en constmction loan a ment. ::j.•., ',';;:
<br /> " � B. A breach of any term or covenant in this Dc�d of Trust, any p S,S Y . . :.•
<br />- .. i securit n reement or any other document eviden�ing, guurantying. secur►ng or othenvise relatin�to the�Secured
<br /> � y � .
<br /> Debt;
<br /> � C. The making or fumishinP of any verbal or written rcpresentation.Statemeut or WerrantY�°Beneficiary thnt is false
<br /> or incorroot in nuy ma�enal re�Re�t vY+�stor c�s tiny persos►nr entlty obligatal on the Securcld Debt;
<br /> m
<br />- p. The death, dissolution, appaintment of a receiver for, or Application of any dcbtor relief law to, rustor or any
<br />-- I person or entity obligated on the Secured Debt; •
<br />^` I E, A gQOd fuith belief by Beneficiary at any time that Benefici�y is insecure with respect to any person or entity
<br /> • obligutecl on the Secured Debt or that che prospect of any payrr�ene is impaired or the Property is imp�ireclt
<br />- F. A material adverse change in Tcustor's business including ownership�Tman3 8ement�f the Secumd Debt;�ar��Which
<br /> � ' Beneficiary in its opinion believes�►po c that wtll contribu�ptoc e�cessive e osion of highly eradible land or to the
<br /> _—__.__ . __ r_ en.,lnan nroceedS ate uSed foi 1 p111p „ „_��_____�,,;,,� :,,�r u u pan 1940. SuUnart
<br /> ,--- ..._ _ _. � .... .W� --- • • _
<br /> convers�on of wetlands to produce an agricutturat comn�oanY. as�ul�„°t�^r.°'°�' ... . "..--.• -- - f -
<br /> G,Exhibit M. �
<br /> 17. RE1V�DIES ON D��ATJLT. In some instanrxs, fodera!and state law will require Heneficiary to Nruvide Tntstor��ith
<br /> notice of the right to cure, mediation notices or other notices and n�ay establish time schedules for fomclosure actions.
<br /> Subject to these limitations. if any, Beneficiary may accelerate the Secured DeUt and foreclose this Ueed of Trust in a
<br /> ' manner providai by law if this Trustor is in default.
<br /> y;��Dt���i't ' ,,
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