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<br />7. 'Successors and AssPgr� This Second I?eed of Trust applies to, inuras w the benafit of end binds all parties
<br />herew, their heirs, legatees, deviseea, personal representativ�s, succassors and asstgns. 1'he term "Beneficiary" shall mean the
<br />owner and holder of any promissory note given to beneficiary.
<br />8. Merger, ConsoUdation, Sales ar Tran�jers. Trustor covenants that Trustor will not sell, traasfar or
<br />othemisa dispose of any of the Trust Estate. 1n the avent that Trustor sells,transfers or othenviae dispose.s of any part of the
<br />Tnist Estate, BeneSciary may at its option declarc the Indebtedness secured hereby immediately duo and payable wlthout any
<br />presendnent, deraend, protest or nodce of any kind, whether or aot any default exists. BeneScisry shell consent to a transfer of
<br />the Trust Estata to a thtrd party to the extent such third pariy meets the requiremanta containod in, and assumes the obligations sat
<br />forth in the First Deed af Trust, Tbe covenants contained herein shall run wIth the Property and shall remain in full force and
<br />effect until tha Indebtedness is peld in full.
<br />Evenls of Dejau/[ My of the followin� eventa shall bc deemed an event of default hercunder:
<br />(Q) ' default shall be made ia the payment of the Indebtednass or any ott►er sum secured hereby when @
<br />due; or
<br />(b). Truswr shall perform any act in banlwptcy; or
<br />(c) a court of competent jurlsdiction shall enter an order, Jud�nent or decree approving a petttion 8led
<br />against Truator seeking any reorganization, dissolution or slmilar relief under any presant or future federal, state or
<br />ather statute, law or regulation ralating to bankiuptcy, lnsolvency or other relief for debtors, and suoh ordar, judgment
<br />or decrea shall remain unvacated and unstayed for an aggregate of sixty (60) days (whether or not consecudve) fioom
<br />the first date of entry thereof; or aay Uvstee, receiver or liquidator or Trustor or of all or any part of the Trust Estato, or
<br />af any or all of tha royalties, revenues, rents, issuas or proRts therco$ ahall ba eppointed wlthout tha consent ar
<br />acquiescence of Trustor and such appointment ahall remain unvacated and unstayed for an aggregate of sixty (60) days
<br />(whether or not conseoutiva); or •
<br />(� a writ of execaUon or attac6ment of any similar process shell be entered against Trustor which shall
<br />become a lten on the Tcust Estate or any portion thereof or interest therein and such execuUon, attachment or similar
<br />process of judgment is not released, bonded, satisfied, vacated or stayed wlthin slxty (60) deys e88r lts antry or levy; or
<br />(e) there has occurred a breach of or dafault uader any term, covenanf, agreemenl, condidon,
<br />provision, rapresentetion or warranty conteined in the First Deed of Trust or any prlor deed of trust or mortgage
<br />affecting the Trust Estate.
<br />10. Acce%radon upon Defau/t; Add/Nona! Remedles. If an event of default occurs, Beneflclary may declare tha
<br />Indebtadness secured hereby to be due and payable and tha asme shall thereupon become due and'paysbla without any
<br />presentment, demand, protcst or notice of any k�nd. Thereafter, Beneficisry may:
<br />(e) eithar in person or by agent, with or wlthout bringing any actton or proceeding, or by a receiver
<br />appeinted by a court and without regard to the adequaay of its security, enter upon and take possession of the Trust
<br />Estate, or any part thereof, ln its own nama or in the name of Trustea, and do any acts which it dcems necessary or
<br />desirabla to preserva tha value, marketabllity or rantability of the Trust Estate, or part thereof or interest thareln,
<br />increase tha income therafrom or protect the securlty hereof and, with or without taking poss6ssion of the Tnist Estats,
<br />sue for or otherwise collect the renfs, issues and profits thereof, fncluding those past due and unpaid, end apply the
<br />same, less costs and expanses of op.eration and collecdon Including attoraeys' fees, upon any indebtedness secured
<br />hereby, all in such order as Beneflciary may determine. The ant6ring upon and taking po�ession. of We Trust Estate,
<br />the collection of suah rents, issues and proflts and the application thsreof es aforesaid ahall not cure or waive any
<br />defsult or notice of default hereunder or invalidate any act doae in r�ponse to such default or pursuant to auch notice
<br />of default and, notwithstanding tha condnuance in possassion of the Trust Estate or the collection, receipt and
<br />applicatioa of rents, i�ues or pmfits, Trustee or Benaficiary shall been entitled to exerclse evary right provided for ln
<br />aay of the Loan Instruments or by law upon occurrence of any event of defaWt, including the right to exercise the
<br />power of �le;
<br />(b) commence an action to foreclose this Deed of Trust as a mortgage, appoint a recBiver or
<br />specifically enforce any of tt►e covanaats hereof;
<br />1VIFA HBA Advantage Loan/Form H
<br />{03/2012)
<br />4826-5279-3871.2
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