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TO PROTf:CT TH�SrCURJTY OI�`TNIS D��D OI�'TRUST,TRUSTOR fI�R�BY COV�NANTS AND ACREES AS rOLI.OWS: '
<br /> 1. Pnyment of Obligntions. Trusf.or ahnll pr�mpUy pny Lhe Obli�ations when due.
<br /> � 2. Ws�rrnnty oPTitle. Trustor is lawfully seized and possessed of good and indefeasible title and estnte to the Property hereby conveyed and
<br /> has t ie rj t to �rant nnd onve tho Pro ert • ho Pro er y is f e and clear of ull liens and encumbrances except thOSe eas�nents,
<br /> res�ri��io�is, anc� co�ienantPS b�f rec�'r�, � any , �
<br /> C�
<br /> �nd Trustor will warrant and defend the title to the Property against all claims and demands. ' �
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<br /> 3. Muintennnce and CompliAnee With Laws. Trustor shall keep the Property in good repair and condition and shall not commit�easte or
<br /> permit impairment or deteriorntion of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. No �
<br /> improvement now or hereufter erected upon the Property shalt be altered, removed or demolished without the prior written cnnsent of `�-'
<br /> I3eneficinry. 'fruator ahall comply with all 18wa, ordinances, regulations, covenants, conditions and restrictions affecting the Propeirty nnd not w
<br /> commit,suffer or permit any nct to be dono in or upon the Property in vinlati�n of any law,ordinance,re�ulati�n,covenant,condition or restrir �
<br /> tion. Trustar shull complete or restore promplly and in good workmtinlike innnner any building improvement or personal prnperly constitutin6
<br /> pnrt of the Property which mny be damaged or destroyed and pay,when due,all claims for labor performed and materials furnished therefor and W
<br /> for nny niterntions thcreof. W
<br /> �I. Insurnnco. Truator, nt its expenae,shall keep the buildinga and other improvements now existing or hereaRer erected on tha Property
<br /> insured by insurnnce cnrriera satisfuctory to Beneficiary against loas by Pre,lightning,tornado,and other perils covered by a atandard extended
<br /> covernge endorsement, in nn amount equr►1 to at least one hundred percent of the fup replacement value thereof; and insurance against such '
<br /> other hnznrds nnd in auch amount as is cuatomarily carried by owners and operators of similar properties and as Beneficiary may require for its
<br /> protection. Trustor wiA comply with such other requirements as Beneficiary may from time to time requeat for the protection by insurance of the
<br /> interest of tho reapective pArties. Aq insurance policies maintained purauant to thia Deed of Trust ahall name Trustor and Beneficiary as '
<br /> insureds,ny Lheir respective interests mny nppenr,nnd provido that thero ahall be no cancellation or modificntion wilhout written riotice to the
<br /> Heneficinry fiRQen(15)dnys prior to its expirntion da6e.In the event of cuncellation of such inaurance,Trustee or IienaPcinry moy procure such '
<br /> insurnnce nnd tho coat thereof ehell bo added to the loan secured•by this Deed of Truat and shall bear interest from the date of disbursement at
<br /> llie ri�le pnynl>la fi•am time to time on outatandin�principnl on lhe Nate unless pt�yment of interest At such rato would be contrary to applicnble
<br /> Inw, in which ovent such nmounts shall bear interest at the higheat interest rate authorized by applicable law. Trustor ahall deliver to
<br /> I3eneficinry iho originnl policies of insurnnce und renewQla thereof. Feilure to furniah such insurance by Trustor,or rene�vals as required hereun• '
<br /> cler sliull,nt Lho option of Beneficinry,constitute a default.All unearnod premiums ure hereby assigned to Trustee ns udditional security and a
<br /> sale and rnnveyance of the Property by the Trustee ahall�operatu to convey to the purchaser the Trustor's interest in and to all policies of insur-
<br /> nnce upnn Lho Property.
<br /> G. Ti►xas,Assossmont und ChArgos. Trustor ahall pay all tnxes, assesements and other charges, including, wilhout limitat(o�, fines end
<br /> impoaitions nttributnblo to the Property, end leasehold paymenta or ground rents, if any, before the same become delinquent. Trustor shall
<br /> prompCly furnish Beneliciary all noticea of amounta due under thia paragraph, and in the event Trustor shall mnke payment directly,Trustor
<br /> shnll promplly furniah to BenePciary receipta evidencing auch pnyments.Trustor ahall pay all taxes and assessments levied upon this Deed of '
<br /> Trust or Lhe indebtedneas secured hereby,together with any other taxes or ugsessments which may be levied against the Trustee or Beneficiary
<br /> or the legnl holder of the Note.
<br /> G. Additionnl Licsna ttnd Protectlon of Beno�etury's Securlty. Trustor ahull make nll payments�f interest nnd principnl and puyments of '
<br /> nny other chnrges, fces nnd expenaes required to bo pnid by tho terma of any prior.ar subsequcnt deed of truat or morl6nge befi�re the Jato lhey '
<br /> nre clelinquent or in default,and promptly pay nnd diachnr6e any and all othor liena,claims or charges which may jeoperdize the security�ranted
<br /> herein. If u)'1`rustor faila to muke any auch payment or fails to perform any of the covenants and agreements contained in�his DeeJ of Trus�,or
<br /> the Note referred to herein,or in any prior or subaequent mort�age or any prior or subsequent deed of trust;or b)if any action or proceeding is '
<br /> commenced which materinlly affecta Bentsficiary's interest in the Property,includin�,but not limited to,eminent domain proceedings, pr�ceed• '
<br /> ings involvin�n decedent,notice of aulo by Trustee,notice of default by Truatee,or mortgage foreclosure action;then Aeneliciary,at BenEficiary's
<br /> option nnd wilhout nol.ico to or demund upon Trustor nnd without releasing Trustor from any obligation hereunder,may make such appearances,
<br /> disburse such sums and tnke suah action as is neceasary to protect Beneficiary's interest.Such action may include,but is not limited to,disburse-
<br /> ment of rensonable attorney's fees, payment, purchase,contest or compromiae of any encumbrance, charge or lien, entry upon the.Property to '
<br /> mnke repnirs,or.declarntion of defuult under this Deed of Trust and Note referred to herein,and sale or foreclosure thereunder.In the event that '
<br /> Trustor shnll fnil to procuro inaurancQ or to pay taxes,assessmenta,or any olher char�es or to make an a ments to nn existin
<br /> ucnt beneficinries I3ene(iciar ma y p Y Y g prior or subse-
<br /> �1 � y y procure such inaurance and make auch peyment,but ahall not be obli�ated to do so.An y amounts disbu r s e d
<br /> b y f 3 e n e G c i n r y p u r s u a n t t o t h i s P aragrap h 6 a ha l l become a d ditional indebtedneas of Trustor secured by this Deed of Trust.Such amounts shall '
<br /> be puynble upon notice from BeneGcinry to Trustor requesting payment thereof,and ahall bear interest from the date of disbursement at the rate '
<br /> pnynble from time lo timu on outstandin�principal under the Note unlesa payment of interest at such rate would be contrary to applicable law,in
<br /> which event such nmounta ahall henr inlerest nt the highest rate permisaible under applicable law.Nothing contained in this ParAgraph 6 shall '
<br /> require 13eneficiary lo incur any expenso or tAke ony action hereunder.
<br /> 7. I.Qi►sed Promisea;Asai�nmonts of Rents. Within ten(10)dnys aRer demand,Trustor ahall furnish to Beneficiary a achedule certified to '
<br /> bc Lru�, acLting forlh nll Icnsos of apnco in or of tho Proporty then in of1''ect. including, in each cnse, tha nnme of the lenants and occupnnts, a '
<br /> description of tho apace occupied by auch tenant and occupante,the rental payable for euch space and such other information and documents�vith
<br /> respect to such leases and tenancies as the Bene6ciary may requea� .
<br /> Witliout tho prior written consent of IIenePciary,Trustor shall not,directly or indirectly,with respect to any lense�f space in the described
<br /> premises, whether auch leASe is now or heren(ter in oxistence:�(a)accept or permit any prepayment,discount or advance rent paynble thereun- '
<br /> der; (bl cnncel or terminnto lho anmo, or accept nny enncollntion, terminntion or aurrender thereof,or pnrmit any event to occur which would
<br /> entitle the lesaee thereunder to terminate or cancel the same; (c)amend or modify the same ao as to reduce the term,thereof,the rental payable '
<br /> thereunder, or to change any renewal provisiona therein contained; (d) weive Any default thereunder or breach the�eof; (e)give any consent,
<br /> wniver or npproval thoreunder or take any other action in connection therewith, or with a lessee thereunder, which would have the etTect of
<br /> impairing tlio vulue of leasor's interest thereunder on the Property,'or of impeiring the position or interest of the Trustee or Beneficiary;or (f�
<br /> sell,assi�n,pledge,mortgage or otherwise dispose of,or encumber,in any such lease or rents,issues or profits isauing or arising thereunder.
<br /> Beneficinry shall have the right,power and suthority during the continuance of thia Deed of Truat to collect the rents,issues and profits of the
<br /> Property nnd of any personal property located thereon with or without takin�posaeasion of the property atTected hereby, and Trustor hereby
<br /> absolutely nnd unconditionally assigna all such rents, issues and profits to Beneficiary. BeneHciary,however,hereby consents to the Trustor's
<br /> collection and retention of such rents,issuea and profita as they acerue and become payable so long as Truator ia not,at such times,in default as
<br /> dePned herein. Upon nny auch default,Beneficinry may at any time,either in person,by agent,or by a receiver to be appointed by a court,with-
<br /> out notice nnd without regard to the adequacy of any security for the indebtednesa hereby aecured: (a)enter upon and take posaession of the
<br /> Property or any pnrt thcreof,and in ita own name sue for or otherwiae collect such rente,issues and profits,including those past due and unpaid,
<br /> and npply the same,leas costs and expensea of oporation and collaction,including reasonable attorney feea,npon any indebtedness aecured here•
<br /> by,nnd in such ordor as Beneficiary may determine; (b)perform auch acts of repair or protection as may be necessnry or proper to conserve the
<br /> value of th�Property;und (c)lease the samo or any part thereof for such rental,term,and upon auch conditions as its judgment may dictate,or
<br /> terminate ar ndjust the terms nnd conditiona of existing leases, Unleas Trustor and Beneficiary agree otherwise in writing, any application of
<br /> rents,issucs ar profita to any indebtedneas aecurod hereby ahall not extcsnd or postpone the due date of the installment payments as provided in
<br /> snid Nolc nr chanqo tho nmount afsuch instnllmentn.Tho entoring upon and takins possession of the Property,the cnllection of such rents,issues
<br /> nncl prolits,nnd tho npplicution thoreof as described herein,ahall not waive or cure any default or notice of default hereunder,or invalidate any
<br /> nct done pursuant to such notice.Trustor also assigns to Benefictary,as further aecurity for the performance of the Obligations secured hereby,
<br /> nll prepaid rents and all monies which may have been or may hereaRer be deposited with said Trustor by a leasee of the Property,to secure the
<br /> pnyment of nny rent,And upon default in tho performenca of any of the provisions hereof,Trustor agrees to deliver such rents and deposits to the
<br /> lieneficinry, Delivery of written notice of Beneficinry'a exercise of the rights granted herein,to any tenant occupying said premises shall be suffi-
<br /> cient t�require said tenant to pay said rent to the Beneficiary until further notiice.
<br /> 8. �vents of Defnult. Any of tha followin�eventa shaU be deemed an event of default hereunder: ' '
<br /> (u) Trustor shall fuil to pay the principnl or interest of the Obligations when due;
<br /> (b) Trustor shall �le u voluntary petition in bankruptcy or shall be adjudicated a bankrupt or insolvent,or shall file an
<br /> seeking or acquiescing in any reorganization,arran�ement,composition,readjustment, liquidation,dissolution or simlar�r 1 ef fb it elf
<br /> under any preaent or fyture bankruptcy,insolvency or other relief for debtora;or shall seek or conaent to or ncquiesce in the appointment
<br /> �f any trustee,receiver or liquidator of Trustor or of All or any part of the Property,or of any or all of the royalties,revenues,rents,issues
<br /> or profits thereof,or ahall make any�enerul assignment for the benefit of creditora,or shnll pdmit in writing its inability te pay its debts .
<br /> generally ns Lhey bocome due;or � -
<br /> (c) A court of competent jurisdiction ahall enter an order,judgment or decree approving a petition filed agatnst Trustor seeking anyveorgani-
<br /> zntion,disaolution or similar relief under nny present or future fodernl,state or other statute, law or rcgulation relating fD bankruptcy,
<br /> inaolvency or other relief for debtors,and auch order,jud�ment or decree shall remein unvacated and unstayed for an a�
<br /> (60)dnya(whether or not conaecutive)from tho first duta of entry therenf;or any trustee,recoiver or liquidator of Trustor o elgor any part
<br /> of�ha Praporty,ar of nny or aU of the royaltios,revonuos�ronta,isaucs or prolits thoroof,shall be appointed without the conaont er acryui-
<br /> escenco of Trustor and auch appointment ahall romain unvacated or unetayed for an asere�eta�r'.s,,..,ian�a.,.._,...�_.�__ _
<br /> tive):or •
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