|
• • ,.;; � ... 'f�. '7
<br /> a�s�F�t;,� . . .. �.-
<br /> +.�A+" ,i. , .� .. .
<br /> �I �iC " :/.'..' � I't „
<br /> � ��� � �'�au�� I: -. � . 5 ...
<br /> 'tt,:1.,p`�� '��;=iid��. . . ..5n).nN.
<br /> . ��d.1!.. . , ij:r •` ��•�� � . . . . . .
<br /> ��r�r . . . _ � � . . ����•rc..
<br /> . ..i....�.�5�I�h�lMl.' .. . . . . ." , . ' 'A-�711✓ �
<br /> ) /
<br /> �V/ � �.i � . . .i1..t.- uy;��l..,...
<br /> 7 1��� 'rJ>;`.� .a�r,.�}�i�.-
<br /> -�c�Yi,a„-,..r:---=
<br /> �I� ..... .`.. ->.'�:,�-.,
<br /> . d. To kccp thc impto��cments now or I�cra�Ror locmcd on tNc properry insurcd against damage by firc and such uther ha ards as , . . �
<br /> thc Heneficiary may ra�a�rc,im m�aunir nnd cotu��iucs nccepti�blc to the Beneficiary.Such ins��rance poliey shall co�etain a standard '• �•
<br /> morigage clausc u� favor of Iicnclicu+ry� '1'niswr�I►:ill promptly tcpair, maintain a�id replacc the property or an�• part thereof,so _
<br /> thnt,exccpt far ord'enary wear nnd tc;�r,thc pro�x:rty!+hall not dctenor�tc.
<br /> S. !n thc cvcnt thc praperty.or :my �x�n il�crcof. ehnll hc tnkcn by emincnt domain,thc Beneficiary is entitled to collect and
<br /> receive all compensation whiclr mny beµvd for any property I��ken ar for damages to property not taken, and the HeneSciary shall
<br /> npply such compens��tion. at its option,eUhcr to si rcductton of tlic indcbtedncss sccured hcreby.or to repair and rescore the property :.��_
<br /> so taken
<br /> 6. Thc Beneftciary tnay, but shall havc no obl�gs►tton to, do any act witiclt Trustors havc agrecd but failcd to do, and thc ,
<br /> Beneficinry may also do any act it dccros ncccssary ta protect the licn h�rrof. Trustors agree to repay.upon demand,any sums so ' •;�: `.. __ _
<br /> ,_.,-« ex p euded b y the Beneficiary for the above purposes,und�my cum so expended shull be added to the indehtedness secured hereby and -��'� � _
<br /> -r*� become secured by Qie lien hereof. The Bene Qci�ry�s tui l l no �ncur�ny lia b i l i ty b e c a u s e o f a n y t h i n g i t m a y d o o r o m i t t o d o ,;�;R�_,:,,',,,-�
<br /> . .. .�.=-
<br /> � hcrcundcr. -. `';:"
<br /> �'°-
<br /> 7. Th$Beneficiary shnU have the right,power nnd euthoriry during the continuance of this Deed of Tnut to collect the rents, . �� , ._�K -
<br /> issucs and profits of thc properry and of Any per�onal property tocutcd thcrcon with or witliout taking possession of thc property , , ���_:,N_�- --
<br /> 1 _��r�_:__
<br /> affected hereby,nnd Trustors hercby nbsolutely �nd unconditiannlly assign all such rents,issues and proftts to the beneficiary. The ,;��;.
<br /> `. �.._ --—
<br /> , .. I beneficiary.however.hereby consents to Trustors'callection�md retetttion of'such renls. issues and profits,so long as Trustors are . -�;__
<br /> not, at such time. in defuuit with respect to payment of any indebtedness secured hereby, or in the pedormance of any agreement :,��`J:��-
<br /> �`°,i hereunder. If any event of default described hereaRet in respect to this Deed af Tn�st shall have accurred and be cantinuing,the �_
<br /> � �!�"`' '�c9 Beneficiary.as a matter of right and without notia to Trustors or�nyone claiming under Trustors,and rvithout regard to the value of _;;__"_
<br /> . ':� ;�� the trust cstatc ar the interest af tiie Trustors thcrcin,sl�all hnvc the riRht to apply to any court ha��ing jurisdicuon tm appoint a ���
<br /> . �. receiver of the prope�ty. of the ro for the �`;�r
<br />- S. The Beneficiary. or its agents,are authorizcd to entcr nt any rcawnable time upon or in any part p Pe�1Y ��u'�_
<br /> : • . , purpose of inspecting the same and for the purpose of perforniing nny of lhe acts they are authorized to perforsn under the temis of ��
<br /> �';:_---_
<br /> � �, any loan instruments executal by Trustors. — � _
<br /> . '��',.� � - 9. If al!or any pan of the property or�ny interest of Trustots is sold, tr�t►sfencd or further encumbered�vithout the written ��-�=
<br /> � t . consent of the Beneficiary.the Heneficiary tnay decl�re�II sums secured by this Tmst Dced to be imrnediatety due and payable and �^�
<br /> ' ' �� proceed to the remedics availablc to it under thc dcfnult pro�isions containcd hcrcin. ����: —
<br /> 10. My of the following events shnll bc da:�ncd un cvent of def�ult hcrcundcr: ���_.
<br /> � "' A. Trustors shall have failed to make paytnem of nny installment of pnncip�l or interest or any other sums secured hereby when
<br /> � . :�'• due: —
<br /> -_... - .- -- �, ��� �,; �,,,,��� ���h 4f�t drf�i�lt ��nder am� term. covei�ant, aR��ment, condiuon, provision, representation or _ _
<br /> � warranty contained in this Dccd of Trust, the notc or uny othcr loun instrumcnt sccurcd hcrcby; —
<br />� `. c. Therc has bcen a default by thc Tntstors in thc payment of t�ny priqr or subscqucnt licn or encumbrance in respect to all or any -_�
<br /> ° �. , part of the property: -
<br /> d. Trustors shall file a voluntary petiqon in bankruptcy or shnll bc ��judicaled banknipt or insolvent, or ahall make an
<br /> .'�;°"� assignment for the benefit of creditors in respect to the property:or an�ction to ei�forx any lien or enc►unbrance or judgmente _
<br /> against the pmperty is commenced. -
<br />- i l. In the event of any default,the Benefici�ry mny declare all indebtedness secured hereby to be due and payable and the same _
<br /> � shall thereupon become duc and payable without any prescntmcnt,dcmand,protcst or��oticc�f any kind. Thoreafter,the Benaficiary
<br />_ �y:
<br />_, ' x. either in person or by agent,rvith or�vithout bringing any action or proca;ding, or by receiver appointed by a court Futd
<br />- � without regard ro the adoquacy of any security,cnter upon and takc possession of thc property, or any part thareof,in its own
<br /> name or in the name of tho Tcustce, and do any acts whieh it dams necessary and desuable to presecve the value,
<br />`�. : marketability or rentabiliry of tho property, or part thereof,or intorest thcrcin, incrcasc thc income therefrom or protect the
<br /> � secvrity hereof and,without taking possesslon of the property.sue for or otherwise wllect thc rents,issues and profits thereof, _
<br />-,•' : � �° including those past due and unpaid, and apply the same, less costs nnd expenscs of operation and coUection, inch�ding
<br /> '� attorney fees,upon any indebtedness secured hereby,all in such ordcr as the Hcncficiary may dcterminc. The entering upan _
<br /> - ,� and taking possession of the wst estate,the colle�tion of such cents, issues nnd profits and applicauon thereof as aforesaid ��
<br /> ' shall not cure or waive any default or naice of default hercunder or invalidate nny nct and in response to such default or �-
<br />�:,', or the wllection,recei t �
<br />��, , ��. ' pursuant to such noucc of dcfault and nonviths��nding thc contin�G�ncc in posscssion of tlic property P _
<br />_ . � and applicaqon of rents,issues or pmfits,Trustee or the Beneficiatry�nny be entitlal to exercise e�•ery right pmvided for in any _
<br />-�-•:.'`'�; - of the loan instmments or by law upon oawrence of any event of defauU.including the right to esercise the power of sale; _
<br />- b. commonce an action to foreclose this Dced ot Trust as a mortgage, nppoint .� receiver,or spxifically enforce any of the �- _
<br />_ • ��.� --
<br />' � covenanu hereof; �e�`e
<br /> c. deliver to Trustee a wntten declaration of default and demnnd tor s:de, and written not�ce of default and election to cause �-��--
<br /> Trustors'interest in the property to be sold, which notice Trustec shall cuuse ta be duly filed fbr rccard in the official records `, �'Y=
<br /> y ' l
<br /> of thc counry in�vhich the properry is locatcd. `� .
<br />� 12. Should the Beneficiary elect to foreclose by exercise of the po«•er ot saie liercin contamed.�I�e Benefician•shall notify Trustee .:;Y` ;�,,_
<br /> and sha11 deposit with Tnutec this Dced of Tcust nnd the notc and such receipis nnd evideuce of expenditums made and secured : '•,:,;4'.::�J _'q�,�-
<br /> hereby as Tcustee may require.and upon request of thc Bcncficiary,d►e Trustce slu►ll cnusc to bc rccordcd,published and delivered ,.: ','. ' ':.;1�itr:•�_
<br /> to Ttustor such Notice of Default and Notice of Sale a�then raluired by la�v nnd by this Docd of Tnts4 Trustcc shall without demand ....;:.:•.;i:;. -•
<br /> on Trustor,after such time as may then bc required by law and after rccordsiUon of such Notice of ikfault�nd after Nodce of Sale � ��"•�,'!"•�
<br /> ;,.�'';-�;
<br /> � ' having boen given as requircd by law, scll the property at thc timc and piace of s�dc fixcd by it in such Noticc of Sale,either as a ~���1`���;,'"��_'�`� . .
<br /> . � �;,... .
<br /> . ,::• � .
<br /> .. • J
<br /> whole, or in separatc lots or parccls or items as Trustce shall decm expedient, and in such order as it may dctermine, at pu tc ,_,.. �•. - '
<br /> -— - �_����f:...�...�....1.....«.I.nc.s�nr nurrhncnie I IfDfMP]I ACl`��O IIiC DfOI1Cl'IV SOIu.COIISISICIIt ' __ '�__ _ _
<br /> .. . .... . ....
<br /> ___._'"_ ' 'i .�, .
<br /> , auetion to tt►e iugnesc oidder ior c�,a��dau s��n.,��...,,�...o......r»........._..... r�__�._...-•--- - °—---�___----.
<br /> " � � with the law then in efTect. Rccitals in thc Trustee's deed shall bc pnnia f.�cic cvidcncc of thc tnith af thc statcmcnts made therein. , : '` �
<br /> Trustee shall apply thc procecds of thc salc in thc following ordcr (A) to�►Il m:�son;�blc costs und c��xnscs of thc s�lc,including but � . , ,�,�,
<br /> not limited to Trustee's fces of not more than 2%of thc gross salc pnce,rG�sauablc iittarnc�•fccs,ui�i costs of t►de evidencc:(b)to all
<br /> I sums sccured by this Decd of Trust: and(c)ihc eKCess, if any. to tUc person or Fx;rsans Icgally cnUticd Ihcrcto. Any person, �:` ,, • .
<br /> _ 1 including the Beneficiary,may purchase said pmpeny ut s��id s:de TR151CC Itlil}'111 II►C Illaw�cr prov�dcd by la�r. postpone sale of all S".,;
<br /> I or any portion of the property. � ,
<br /> � 13. Tn�stee and the Beneficiary.and each of them, shall be entuleci io enforce paymem and{x:rfunnance o f any►n de bt e d ness or
<br /> - obligation secured hcreby and io cxcreisc ali nghts�md powcrs undcr�I�is I)ecd ol''1'►7is� or undcr any loan �nstnimcnt or other � . �
<br /> agrcement or any laws nor or hereafter enforced not�v►thstand►ng sornc or all of�hc mdcbtedi�ess mid c�bl�gatwns secuted heteby i,-°. .
<br /> � which may now or hereaftcr bc othcrwisc sceured. whcthcr b}• mortga�;c. ciccd of inist, pl�dµ. hsn. assiµittncnt or othcnvisc. • , �^,+
<br /> � Neither the acceptance of ttus Deed of Trust nor its enforcement. �vhetlkr b� conr� +icuuu or purtivamt►a Uw po��er of s:de or other .
<br /> �
<br /> -i I •..j_
<br /> I f ,
<br /> .
<br /> . . . _...1_ _ ,_ _
<br />
|