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<br /> ar obsalete, provided qiat such personal property is replaced with other personnl property nt lcast equnl in value tr� dir.
<br /> • replaced personal property. free from uny titic retentinn device. security agreement or othee cncumbmnce. ,�tr.lti .
<br /> • ' replacemene uf pers�nal protx:rty will be deemed subject to the security Intc�est sreated by this Deed of Trust.Truatcr ehnld
<br /> not partltion or sutxlivtde the PropeRy wlthout �leneAclary's prior wdtten c;onse�it. Benetictary or&:neficlary'y a�enr� �;
<br /> msy, ut B�nefici+uy's optian,enter 1he Property at any�s�neflt and�Trustor v111 inf nosw�y�relyhon �Bcnef-yr.i ry s �
<br /> inspcc:tlQn af the Praperty shall be entir�ely for Benetici
<br /> insp�tion. .
<br /> � ' 13.AUT�nRITY'PO PERFORM•lf Trustor fails to perform uny of Trusror's duties under this Dced of Ttust.or an!atEier
<br /> :,�..r•^y" mortgage, deed af trost, security agreement or other lten dceument that has priortty over this Decd of Trust, i3enefcr.inry
<br /> ._ ..�r. may, without aotice,perform the duties or cnuse them to be pe�farmed.Tcustor appo�nts Beneficiary us attorney in fact to ti
<br /> sign T:ustor's name or pay any amount aec�ssary for performance.If any wnstruction on tho Propertb Is discontinuad or
<br /> aot carrled on in a reasonablc manner.Beacflca�ry may do whatever is nec�ssary to protect Aenefieiary's securhy interest
<br /> � in the Froperty.'Ihis may include completing ttae consnuction ��
<br /> ' Beaeficiary's right to perfomi for Trustor shall not create an obIIgaiion to p�domi, and Beneficiury's failure tm gcr5r�rna .
<br /> will not preclude Beneficiary from eaerclsing any of Beneficiary's othcr righte under the law or tbis Deed of Ttuat� !1.n� -
<br /> ' amounts paid by Beneficlary for insuring, presecvin8 or otheiwise proteciing the Property and Beneficiary'� Qccucit�
<br /> '; effect from time t tuxie accordln�o the tertasi of the Evldencee of D bt�e payment until patd in full at the [nterest rnte ia Y
<br /> :��� • 14.ASSIGNI��NT OF LEAS�,S AND It�PI'i'S• Tcustor irrevocably grants, conveys and sells as additional security a1G tfie
<br /> ri t,tide and lnterest in and to any and all: ���
<br /> �: � uaranties and an other writtea or verbal a�rcements for tha u�+:aud �_
<br /> A. E�cisting or future leases,subleases.licepses, g Y , ---
<br /> occupancy of any porti�n of the Property� including any eateasions, rene�vals, modificadons or substitti�brna of �".
<br /> � such agrcements(all nfen�ad w as"I.eases')• _-
<br /> minimu�a t+�nt �
<br /> .�� B. Rents, issues and profits(all referted to as"Rents"),including but not limited to security deposits. .
<br /> . percentage r�nt, additio�al rent. com�on area maintenance ch:u,�es� PackinS charges. m,�l estate uvc�s. ot�er --
<br /> ztc•�s insur�ce remium conMbudons, liquidated dx�ges follotiwiag default. canceUation Ene�iuu�. �`�.
<br /> applicable t. , P
<br /> � '�` . that in any way�rtai»s ta ur is on�ac oun of tph�o'r o:cupancynof ttte w�ho oa aa�of the�perCy.��nve
<br /> � Tcustor wiU proinptl;�provide Beneficiary with true and correct copies of all e�clsting and future Leases. TmaWr muy
<br /> � _ �����y������A,e��,�e rhe Renrs so long as Ttust�or is not In default.Tivscor will not wllect in advance mty It�nts
<br /> ' � due in future lease pc:dods,unless Tiustor fust obtains 8enefic�ary's wriaen consenc. Upon de�auit, i�usw>>•wi�r�:eive
<br /> '�f;1.�.�{�; �, any Rents ta trust for Beneficiuty and Tn�stor wlil not wmnctingle the Rents with any other funds.Any amain�colP�ted
<br /> ;�;`,;S';,�:��` Property.pin luding. bu�oat 1'irnited to�all tac��assessments,�insurance Prenninuu. r��epa�rs,�and comminnianu to�rgental
<br /> � ageuts,and to any othar necessary mlated expenses including�eneficiary's attomeys'fe�s,paralegal fees anc!eduiY coritta.
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<br /> ' �'t''.,,;� Tcustor acknowledges that this asslgnu�eat is perfected upon ¢he Teccor�in�of this Deed of Tcust and thnt Gc:nafaciory �c
<br /> f.� � "„�.�• z of renzs dne or w become due to Benefrainry. Hmwever.
<br /> eudtled�o aotify any of Trus�tor's teaants to make paymc�
<br />- ° ° Beneficiary agrees that only on default wUl Beueficiary nol3fy Tcustor and Trustor's tenaats and make d�eunnd thut ald _
<br /> ' future Rents be patd direcdy to Beneficiary. On receiving the notice of defanit. Tcustor will eudor�e aud dtiaver to
<br /> . � Benefic[ary any payments of Rent In Tcustor's possession.
<br />`_"'-''7''�`•`'' Trucrtar covenants that no default exists uader the Leases or any applicable landlord law.Tn�stor also cavenunta eud agt+ees
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<br /> •,o,:r;;y.;�„ tn mt�lntain, and to requlre the teaants to comply wlth. thE I.eases and any applicable law.Tnistor will grompt�y nati
<br />- - J-�...,� ��� Beneficisry of any noncomplla�ce.If Tivstox meglects or scfuses to enforce con►pliance wlth the tem�.s o�tltQ Leases,theu _
<br /> `� ��" '���• Beaeficiary may. at Beneficiary's aption, enforce compliance. Tnistor will obtain BenefiClary's waitten authorizauon
<br /> • . .,.r.;.
<br />,�'; �;�.. ' before Truawr consenta to sublet,modify,cancel, or othe�wi5e alter the Leases, to accept the surrandur of the Froperty
<br />-^�.��::; . - covered by such Leases (uatess the Leases so roquiae), or to assign.co�►Pmmise or encumber the Lences or any future
<br /> ��='�'�" � Rcnts. Trustor wlll hold Beneficiary harmless and indemnify Beneficiary for any and all liability, tuss ar dnutage thai =
<br /> =4 �,;i;�;;" :' g�neficiary may incur as a co�sequence of�he assigument under thts saxion. --
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<br />��♦.:; 15.CONDU1VIllvIIJli�lS; P'LAM�JED UMT DEVELOPMENTS. If the Property includes a unit in•a candaminium or a _.
<br /> planned writ development.'Ih�stor will perfa�rm all of Trnsror's duties under tlte covenaats.by-la�vs, ar re�ulntfans of thc —
<br />=,�:%�" - � condominium or planned unit development. `
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<br />_,� `;,;;�;..;;:, - 16.DEFAULT.Trustor will be in default tf any of the folla�ving o�,rur: _.
<br />- ,�';;�" • A. Any party obligated oa the Secured Debt fails to rnake paymeat when due; —•
<br /> .. '��' 3� B. A breach of eny term or covenant in this Deed of Trust,any pdor mortgab�or any consttttation loau agt�cement, '_"_'_
<br /> ' ' security agreernent or any other docwsnent evidencing. guarantYing,securinS or othervvise reli�t�ig to th�Secured � .
<br /> Debt;
<br /> , . . C. The mnking or fumishing of any verbal or�vritt�n representatlon, statem:nt t�r warranty to Hesnafraimy thnt is false �.:'
<br /> ��,� � or inyorc�eet in any mate3rinl respect by Trostor o��ny person or entity obligatec�on the Secured Dabt;
<br /> � D. The death. dissoludon, appointR►ent of a rerxitlrar t'or, or applialtion of any debtor relief lu�v t�. Ttustar or any
<br /> person ar entiry obligated on the Secured Debt;
<br /> � E. A good faith belief by Beneficiury at any ti�e that Beneficiary ts insecure with respect ta aay per�on or entity
<br /> . - obligated on the Secured Debt or that the prospect of any payment is impaired ar the Properrj ie imp�cl;
<br /> I F. A roaterlal adverse change in Trustor's business including ownership,management.and financial conditiaufl,which
<br /> � { Beneficiary in its opinion believes im�airs the va9�ue of the Properry or repayment of the Secured 1)cbt;or
<br /> .. •__.s_�_ ..�.i i.o.,,�....,�rh�r u,.n�nnmhure m exce�roe emsion of tueWv emdible lnnd or to the
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<br /> convcrsion of wedands to produce an agricultural commodity,as furtl►er explained in 7 C.F.R.Part 1940,Su6part
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<br />- G,Exhibit M.
<br /> ` �. 17.REMEDIES ON DEFAULT. In some instanas. federal smd state law will require BeneRciary to provide Tnistor with I
<br /> notice of the ri�ht ta cure,mediation notices or other notices and may estabiish time schodules for forcelnsure actions.
<br /> _ Subject to these limitations, if any, Beneficiary may aooeterate the Secured Debt and t'omclose this Dc�sl of Tcust in a
<br /> manner providcxl l�y law if this Tnistor is in default.
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