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201201590
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Last modified
3/19/2012 3:48:43 PM
Creation date
3/1/2012 8:50:41 AM
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DEEDS
Inst Number
201201590
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201201590 <br />effect of any notice of default or sale (unless all Secured Obligations then due have been <br />paid and performed and all other defaults under the Loan Documents have been cured); <br />or impair the security of this Deed of Trust; or prejudice Beneficiary or any receiver in <br />the exercise of any right or remedy afforded any of them under this Deed of Trust; or be <br />construed as an affirmation by Beneficiary of any tenancy, lease or option, or a <br />subordination of the lien of this Deed of Trust. <br />(i) Trustee or Beneficiary, its agent or a receiver takes possession of <br />all or any part of the Property in the manner provided in Subsection 6.3(c). <br />(ii) Beneficiary collects and applies Rents as permitted under <br />Sections 23 and 6_6 above, either with or without taking possession of all or any <br />part of the Property. <br />(iii) Trustee or Beneficiary receives and applies to any Secured <br />Obligation any proceeds of any Property, including any proceeds of insurance <br />policies, condemnation awards, or other claims, property or rights assigned to <br />Beneficiary under Section 5.5 above. <br />(iv) Beneficiary makes a site visit, observes the Property and/or <br />conducts tests as permitted under Section 5.12 above. <br />(v) Trustee or Beneficiary receives any sums under this Deed of Trust <br />or any proceeds of any collateral held for any of the Secured Obligations, and <br />applies them to one or more Secured Obligations. <br />(vi) Trustee, Beneficiary or any receiver invokes any right or remedy <br />provided under this Deed of Trust. <br />8.3 Powers of Beneficiarv <br />(a) If Beneficiary performs any act which it is empowered or authorized to <br />perform under this Deed of Trust, including any act permitted by Section 5.7 or <br />Subsection 6.3(d) of this Deed of Trust, that act alone shall not relea.se or change the <br />personal liability of any person for the payment and performance of the Secured <br />Obligations then outstanding, or the lien of this Deed of Trust on all or the remainder of <br />the Property for full payment and performance of all outstanding Secured Obligations. <br />T'he liability of the original Grantor shall not be released or changed if Beneficiary grants <br />any successor in interest to Grantor any e�rtension of time for payment, or modification of <br />the terms of payment, of any Secured Obligation. Beneficiary shall not be required to <br />comply with any demand by the original Grantor that Beneficiary refuse to grant such an <br />extension or modification to, or commence proceedings against, any such successor in <br />interest. <br />(b) Beneficiary may take any of the actions in accordance with the terms of <br />and permitted under Subsections 6.3(b) and/or 6.3(cl regardless of the adequacy of the <br />security for the Secured Obligations, or whether any or all of the Secured Obligations <br />DEED OF TRUST — Page 19 <br />#3982161 <br />
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