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TO PROTIsCT TH�SIs'CURITY OI�`THIS D��D OI�`TRUST,TRUSTOR H�R�BY COV�NANTS AND ACREES AS i'OLI.OWS:
<br /> � 1. Pn ment o, Obli�
<br /> Y { 6ntions. Truator ahnli pr�mptly pny the Obligati�ns when due.
<br /> 2. Wnrrnnty of Title. Trustor is lawfully seized and possessed of good and indefeasible title and estnte to the Property hereby conveyed and
<br /> lias Llie right to grnnt nnd convey the Property;tho Property is free and clear of all liens and encumbrances except thOSe P�.S�T1211tS�
<br /> restrictions and covenants of record, if an , �
<br /> nnd Trustor wi11 warrant nnd defend the title to the Property against all claims and demands. �
<br /> 3. Maintennnee and Compliance With Laws. Trustor shall keep the Property in good repair and condition and shall not commit�easte or
<br /> permit impnirment or dete�iorntion of the Property and ahall comply with the,provisions of any lease if thia Deed of Trust is on a leasehold. No
<br /> improvement now or hereufter erected upon the Property ahall bo altered, removed or demolished without the prinr written c�naent of '
<br /> Tleneficiary. Trustor shnil comply with all 18ws, ordinances, regulations, covenants, conditions and restrictions affecting the P��perty nnd not�
<br /> cnmmit,suffer nr permit nny nct to be dono in or upon the Property in violation of any law,ordinance,regulation,covenant,condition nr restric•�
<br /> pnrt of the Property hi�chtmny be damaged or d st oyed and pay when due,all claims for labor�perfo med and materials furn►she Y conatituting '
<br /> ('or any niterntions thereof, d therefor and
<br /> 4. Insi�runce. Trustor, ut ita expenae, shall keep the buildings nnd other improvements now existing or hereaRer erected on tha Property �
<br /> insured by insurnnce cnrriers sntiafnctory to Beneficiary a�ainat loas by fire,lightning,tornado,and other perils covered by a atandard extended �'�
<br /> cnvern�e endorsement, in nn nmount equul to at least one hundred percent of the 1'ull replacement value thereof; and insurance against such W
<br /> olher hnznrds nnd in auch amount as is customarily carried by owners nnd operators of similar properties and as I3eneficiary may require for its
<br /> protection. Trustor will comply with auch other requirements as Beneficiary may from time to time request for the protec:ion by insurance of the �
<br /> interest of tho respective parties. All insurance policiea maintained purauant to this Deed of Trust shall name Trustor and Beneficiary as ,�
<br /> insurecls, ns lheir rcapective interests mny nppenr,nnd provides that thero shall be no cancellntion or modificntion without written riotice to the
<br /> Iteneficinry fiReen(15)clnya prior to its expirAtion dnle.In the event of cnncollation of such insurance,Trustee ar I3ene6cinry muy procure such
<br /> insurtince nnd tlie cost thereof shall bo added to the loan aecured by this Deed of Trust and ahall bear interest from the date of diabursement et
<br /> Uic riilc pnynble from time to lime on outstandin�principnl on Lhe Note unlesa payment of interest At such rato would bo contrary to applicable
<br /> lnw, in which ovent such nmou�ts ahall bear interest at the highest interest rate authorized by applicable la�v. Trustor shalt deliver to
<br /> T3eneficir�ry the originnl policies of insurunce nnd renew�ls thereof. Failure to furnish such insurance by Trustor,or renewals as required hereun-
<br /> cler slinll,at Lho option of BeneGciary,constitute n default.All unearned premiuma ure hereby assigned to Trustee ns ndditional security and a
<br /> sale nnd conveyance of the Property by the Trustee ahall�operate to convey to the purchaser the Trustor's intereet in and to all policiea oC insur-
<br /> nnce upon Lho Property.
<br /> G. Tnxos, Assoasmont nnd Char�os. Trustor ahall pny all tnxes, Aesosaments and other charges, including, without limitation, fines and
<br /> impositions nttributnblo to the Property� and leasehold paymenta or ground rents, if any, before the eame become delinquent. Truator ahall
<br /> Pr'omptly furnish Banoficiary a11 noticea of amounta due under thie paragreph, and in the event Truator ehall make payment directly,Trustor
<br /> shnll pr�mplty furnish to BenePciary receipta evidencing such puyments.Trustor ahwll pay aU taxea and assesaments levied upon this Deed of
<br /> '1'r��st or lhe indebtedneas aecured hereby,to�ether with any other taxea or ussesaments which may bo levied egainst the Trustee or Deneficiary
<br /> or the legnl holder of the Note.
<br /> G. Adciitionnl Licns antl Protectton otBeno�clury's Security. TrusLor shall make ull payments of interoat nnd principal and pnyments ef
<br /> nny othcr chargos, fces nnd expenscs required to bo pnid by tho terms of any prior.or subsequent deed of truat or morl6nge before the date they
<br /> nre clelinquent or in default,and promptly puy and dischur�e any and all other liena,claims or charges which may jeopardize the secnrity�ranted
<br /> I�erein, If n)Trustor fails to muke any auch pnyment or fails to perform any of the covenants and agreements contained in this Deed of Trust,or
<br /> the Notc referred to herein,or in any prior or subaequent mortgage or eny prior or aubsequent deed of trUSt;or b)if any action or proceeding is
<br /> commenced wliich mnterinlly t�ffects BenQfciary's inte�est in the Property,includin�,but not limited to,eminent domain proceedings, proceed-
<br /> ings involvin�n decedent,notice of salo by Trustee,notice of default by Trustce,or mortgege foreclosure action;then F3ene(iciary,at BenEficiary's
<br /> oplion nnd without nolice to or dempnd upon Trustor und without celeasing Trustor from any obligation hereunder,may make auch appearances,
<br /> disUurse such sums nnd tnke such action as is necessnry to protect Beneficiary's interest.Such action may include,but is not limited to,disburse-
<br /> ment of reasonable attorney's fees, payment, purchese, contest or compromise of any encumbrance, charge or lien, entry upon the.Property to
<br /> mnke repAirs,or.declnrntion of defuult under this Deed of Trust and Note referred to herein,and sale or foreclosure thereunder. In the event that
<br /> 7`ruslor shnll fnil to procuro inaurnnce or to pay taxes,asaessments,or any oLher charges or to make an
<br /> quent beneficinries,f3eneficiar mn Y payments to nny existing prior or subse-
<br /> y y procure such insurance und make auch payment,but shall not be obligated to do so.Any amounts disbursed
<br /> by I3eneficinry pursuunt to this Paragraph 6 ahaU become additional indebtednosa of Trustor aecured by this Deed of Trust.Such amounts ehall
<br /> be pnynble upon notice from BenePcinry to Trustor requestin�payment thereof,and shall bear interest from the date of dishursement at the rate
<br /> pnynl�le from time 1.�timn on outstanding principal under the Note unless puyment of interest at such rate would be contrary to applicahle law,in
<br /> wliich event xucli nmounta shall henr inlerest nt the highest rate permisaihle under applicable law.Nothin�contained in this Paragraph 6 shall
<br /> requirc 13eneficinry lo incur nny oxpenso or take nny action hereundcr.
<br /> 7. I.e�isecl Promisea;Asaignmonts of Itents. Within ten(10)dnys aRer demand,Truator shall furnish to Beneficiary a achedule certilied to
<br /> I�c I.ruc, acl.�ing forlli nll lensas of apnc:o in or of tho Proporty thon in offect. including. in each cnse, the name of the lonanta and occupnnts, a
<br /> description of tho apnce occupied by auch tenant and occupants,the renta!payabte for auch space and such other information and documents with
<br /> respect to such leasea nnd tenancies aa the Beneficiary may requeat,
<br /> Williout tha prior written conaent of Beneliciary,Trustor shall not,directly or indirectly,with respect to any leese of space in the described
<br /> premises, wliether such lense is now or heresaRer in oxistence:�(a)accept or permit any prepayment,discount or advance rent payable thereun-
<br /> der; (I�)cnncel or terminnto Llio samo, or accept nny cuncollution� terminution or aurrender thereof,or pormit Qny event to occur�vhicli would
<br /> entitle the lessee thereunder to terminate or cancel the eame; (c)amend or modify the same ao as to reduce the term,thereof,the rental payable
<br /> thereunder, or to change any renewal proviaions therein contained; (d) waive nny default thereunder or breach thereof; (e)
<br /> •.vniver or npprovnl thereunder or take any other action in connection therewith, or with a lessee thereunder, which would ave the effect otf
<br /> impairing tl�e vnluo of lessor's interest thereunder on the Property,or of impAirin�the position or interest of the Trustee or Beneficiary;or (f�
<br /> sell,assign,pledge,mortgage or otherwise dispose of,or encumber,in any such lease or rents,issuea or profits isauing or arising thereunder.
<br /> Benefici�ry shall huve the right,power and authority during the continuance of thia Deed of Trust to collect the renta,issues and profits of the
<br /> Property nnd of any personfll property located thereon with or without takin�posaession of the property aA'ected hereby, and Trustor hereby
<br /> absolutely and unconditionully assigna all auch rents, issues and protits to Beneficiary. Beneficiary,however.hereby consents to the Trustor's
<br /> collection and retention of such rents,isaues and profits as they accrue and become payable so long as Truator is not,at such times,in default as
<br /> defined hercin. Upon uny auch dafault,Beneficinry may at any time,either in person,by a�ent,or by a receiver to be appointed by a court,with-
<br /> out notice and without regard to the adequacy of any aecurity for the indebtednesa hereby eecured: (a)enter upon and take posaession of the
<br /> Property or uny pnrt thereof,and in its own name eue for or otherwiae collect auch rente,iasues nnd prolits,includin�those past due and unpaid,
<br /> nnd npply the same,less costs and expenses of oporation and collection,including reasonable attorney feea,upon any indebtedneas secured here-
<br /> by,nnd in such order as BenePciary mAy determine; (b)perform auch acts of repair or protection as may be neceasnry or proper to conserve the
<br /> vnlue of tho Property;nnd (c)lease the aumo or any part thereof for auch rental,term,and upon such conditiona as its 'ud
<br /> terminnte or ndjust the terma nnd conditiona of existin�leasea. Unless Truator and Beneficiary e�ree otherwise in writing, any applicatlon of
<br /> rents, iss�ies or proPts to nny indebtodneas aecurod hereby shall not exttmd or postpone the due date of the inatallment paygments as provided n
<br /> snicl Nol,e��r chnn�e tho amount af such instnllmenta.Tho entorin u on and takin
<br /> nnd profil:s,ond tiio npplicntion thoreof as deacribed herein,shal n t waive or cure any default or notice of default hereunder,or invalidate any
<br /> �posseasion of the Preperty,the c�illection of such rents,issues
<br /> nct done pursunnt to such notice.Truator also assi�ns to IIeneficiary,as further aecurlty for the performance o f t h e O b liga t lons aecure d hereby,
<br /> nll prepaid rents and all moniea which ma y h a v e b e e n or may herea f Ler be deposited wIth said Trustor by a leasee of the Property,to secure the
<br /> pnyment of nny rent,and upon default in tho performance of any of the proviaions hereof Trustor agrees to deliver such rents and deposits to the
<br /> 13eneficitiry. Delivery oC writton notice of Beneficinry's exercise of the ri�hts �
<br /> cient tn require snid tennnt to pay said rent to the Beneficiary until further not'ce�d herein,to any tenant occupying said premiaes shall be sufl'i-
<br /> 8, is'vents of Defuult. Any of tho following events shall be deemed an event of default hereunder: �
<br /> (u) Trustor shnll fnil to pay the principal or interest of the Obligations when due;
<br /> (b) Trustor shnll file n voluntary petltion in bankruptcy or shall be adjudicated a bankrupt or insolvent,or shall file an
<br /> secking or acquiescing in any reorganization,arrangement,composition,readjustment, liquidation,dissolution or similar relief tor itself
<br /> under any preaent or fqture bankruptcy,insolvency or other relief for debtora;or ahall seek or conaent to or ncquiesce in thelappointment
<br /> of nny 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 lhereof,or ahall mwke any generul nasignment for tha benetit of creditora,or ahull Admit in wrltin�ita inability to pay its debts
<br /> gencrally ns t,hey become duo;or
<br /> (c) A court of competent jurisdiction shall enter an order,judgment or decree a
<br /> znlion,disaolution or aimilnr relief under nny present or future foderal�statpe or�other at t�uterlaw orerogulat'on relat ng fD bankruptcy,
<br /> (60)1clnys(whether or n�ot cons cuti e�)from tho first dAte ogf e�c��Tti:M�,°8hat1 remain unvacated and unstayed for an err�ppA�.„r.s..,..
<br /> nf Ihn P�,..,,..�.. ---"— •• - - -
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