201209194 - Laserfiche WebLink

Browse

�Og209�94 prohibited, then the entire indebtedness secured by this Deed of Trust shall, at the option of the Beneficiary, become due and payable; (i) that if the Property or any part or parcel thereof shall be taken or damaged under the power of eminent domain, the award for any Property so taken or damaged (including severance damages to the remaining premises) shall be paid to the Beneficiary and applied in full or in part at the option of the Beneficiary in reduction of the indebtedness hereby secured; (j) that the Beneficiary shall have the right to inspect the Property at such reasonable times as the Beneficiary may desire to determine Trustor's compliance with the covenants contained in this Deed of Trust; (k) that the Beneficiary may release from the lien hereof any part or parcel of the Property without requiring any consider- ation therefor, and (1) that Trustor is lawfully seized of said premises and Property in fee simple, that the same are free from all liens and encumbrances except as may otherwise be specifically noted herein or waived in writing by the Beneficiary; that Trustor will execute or procure any further necessary assurances of title and does hereby warrant generally the title to said Property and will forever defend the same against the claims and demands of all persons whomsoever, and that Trustor's separate estate, whether vested, contingent or in expectancy, is hereby conveyed and Trustor does hereby expressly waive, release all rights and benefits of any homestead, dower, curtesy, appraisement, exemption and stay laws of this state. It is agreed that the interest provided for in subsection (g) above shall be at the same rate as specified in the Note secured hereby on the principal thereof after default and maturity. SECOND. In the event Trustor, without the prior written consent of Beneficiary, shall sell, transfer or convey or contract to sell, transfer or convey the Property, or any part thereof or any interest therein, the entire balance of the indebtedness hereby secured shall become and be immediately due and payable at the option of Beneficiary; provided, however, Beneficiary may waive such option to accelerate if, prior to such sale, transfer or conveyance or contract therefor, Beneficiary and the person to whom the property is to be sold or transferred reach an agreement in writing that the credit of such person is satisfactory to Benefi- ciary and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as Beneficiary shall request. THIRD. That as further security for the payment of the Note and the indebtedness thereby evidenced and the performance of all of the terms, covenants and conditions hereof, Trustor agrees that Beneficiary shall and does hereby have the right, power and authority during the continuance of this Deed of Trust to collect the rents, issues and profits of the Property and of any personal property located thereon with or without taking possession of the property affected thereby; and Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary. Beneficiary, however, hereby consents to Trustor's collection and retention of such rents, issues and profits as they accrue and become payable so long as Trustor is not at such time in default with respect to payment of any indebtedness secured hereby or in the performance of any agreement hereunder. Upon any such default, Beneficiary may at any time, either in person, by agent, or by receiver to be appointed by a court, without notice and without regard to the adequacy of any security for the indebtedness hereby secured (a) enter upon and take possession of the Property