|
..._.,,.,�,...,, ,_.._._.__
<br /> . ._ ..r.,.. .
<br /> ` ., •.?:r�,•,�.� ' . . _....---- -..
<br /> ., __.,_...-- --
<br /> !�s�,. -- --- �
<br /> __ -
<br /> /� �$� ��Y
<br /> de�ault, B�n�ticiazy may •t any ti.m�, �iGh�r in perNan, by agenC,
<br /> or by r�c�iv�r to b� �ppoint�d by # aourt without nat.�ae a�nd
<br /> without regard to th• ad�quNCy at Nny ■�r_urity tafi the indAbtedneoe
<br /> h�r�by ��cur�d (a) •ntir upan �nd tiica pa��a�rion ot Ch� propdrty
<br /> or a�ny p�rt th�r�ot �nd in it• own nama •u• !or or otharwi�e
<br /> aollaat •uch rsntr, i�wu�■ �nd prutir.�, including tho�e pa�t due
<br /> end unp�id, and apply th� a�m�, 1�er �o�tr a�nd •xpan�e• o#
<br /> oper�tion •nd ooll�at�.on, includ�ny r�a�nnabl� aetornwy' � t�a��,
<br /> upon anX ind�bt�dn��■ ��aur�d her�by ■nd in •uch ordor a■
<br /> 6�n�ficiary may d�t�rmin�j tb1 l�N�� r.h• �Nrtw or �ny pRrt th�r�at
<br /> !or �uch r�ntal, t�rm �nd upon �uah condition� �� 8�nwficiwz�y►'w
<br /> judgrtwnt may diot�t� or t�rmin�t• or �dju�t th� t�rm� and
<br /> condition• of �ny •xi�tiny 1���• �r 1�����. Unl��� Trurtor and
<br /> 8�naticiary �grs� ok.hexwl�� in wxitLn9, any •pplicatinn o� r�nCs,
<br /> i��u�� or protit■ to �ny ind�bt�dn��� ��cur�d h�r�by �h�ll not
<br /> extend or po�tpon• th� du� d�tr dF th� in�tallrr�nt paym�nt■ a■
<br /> pr�vided in the Nor• or ch*ny th• �mounC n! •uch inetallrr�nts.
<br /> The �nt�riag upon and takin� po���e�lon o! Ch� prop�rty, th�
<br /> col l�ctian o! ■uch r�ne s, i��u�� �nd profit�� •na �h� applicatian
<br /> th�r�of a� afor��aid, �h�ll not w�iv� or cur� ony d�tault or natic�
<br /> of d�fault h�r�und�r, or it►valid�t� �ny •ct don• pur�u�nt to �uch
<br /> notic� . Tru�tor a��iyn� to Nn�tici�ry, +�� turth�x •�curity !Ar
<br /> the p�rtoz�manc• n� th� ind�bt�dn��� and obliq�tion• •�cur�d h�r�by,
<br /> all prap�i.d rent■ and �11 mon�y whioh n�y h�v� bo�n or m�y
<br /> h�r�aft�r b� d�po�it�d with Tru�tor by a�y 1����� o� th� Prop�rty,
<br /> ta r�cur� the paym�nt oi •ny r�nt or d�n�ay��, �nd upon d�fault in
<br /> the� p�rtarmanc� o! any oi th� p�ovi�ion� hMr�at, Tru�tor agrsr� to
<br /> d�l iv�r such r�nt� and d�pc�■it� tb ��n�Ciciary. D�liv�ry o!
<br /> writtRn notic• at H�n��ici�ry'� ex�rci�� ot th� riqht• 9rantwd by
<br /> thi a pwraqraph �HIRD ro �r�y t�n�nt occupyinq th� Prop�rty or any
<br /> portion th�r�o! •tuill b� •uttici�nt to r�quir� ��id t�n�nt to p�y
<br /> ■sid r�nt ta e�neticiary unti� lurthe,: :.�L!=-.
<br /> EQV$�� It th�r� •h�ll b� til�d by or aq�in�t th� 'Tru�tor �ny
<br /> p�tition or proct�ding ���kiny� �n •rr�ny��nt or conpo�ition or
<br /> extan�ion or any oth�r r�li�i und�t or pur�uant to th� I�d�r.al
<br /> Bankruptcy Cod� or any oth�r ■imilar �katut� a• now or h�r��it�r in
<br /> �t��cC, or it the tru�tor. �h�il b� �diudio�t�d bankzupt or
<br /> inaolv�nt or �ny ot Tru�tor'• prop�Yty �h�l� h�v� b��n ��qu��t�r�d
<br /> �nd such d�cr�� •h�ll have continu�d undi�ah�rq�d •nd un�C�►y�d !or
<br /> nin�ty (90) day� att�r th� •ntry th�r�al, th�n th� whol• a� th�
<br /> Not� �nd ind�bk�dn��• t��r�by •�cur�d •ball, without notic�, at th�
<br /> opt ion ot tha B�n�ticiary b�con» du� and pay�bl�.
<br /> �jg�s Upon d��ault by Tru�ror in th� p�ym�nt ot ar
<br /> pertozmaace ot th� term� �rui condl.tinn� o! tlt� Not�, or �ny
<br /> r�new�ls, modific�tion• or �x�cution• eh�r�ol, th� p�yn�nt ot •ny
<br /> oth�r ind�bt�dn��• ■�cur�d h�r�by ar in th� p�stomiano� o! any
<br /> agreemwnt, cov�nant or w�rr�nty her�in cont�in�d nr ■�rk lorGh in
<br /> any egre�ment or instrucn�nt ex�cut�d by Tru�tar i.n oonn�otion rrith
<br /> the indebtedne�� hereby ��au�r�d, 8�n�tipi�ry n+�y d�al�r� all ou�ns
<br /> �ecur�d h�reby imr�diat�ly du� •nd pay�bl• •nd th� •�� •h�11
<br /> th�reupon become due and paywbl• wikhout pr���ntn�nt d��nd�
<br /> protert or notice oi any kind. Th�r�att�r, �n�r[iolary n�sy aliv�r
<br /> to Tru�tee a writt�n d�claration ot d�fau2t •tu! d��nd tor a�l�.
<br /> Tru�tee •hAll have �he pow�x o! •al• a� th� Proprrty �nd 1i
<br /> eene�iciary decide� the Prop�rty i■ ta b� �old, iC •h�ll d�po��t
<br /> with Tru�t�� tk�i• D�ed oi kru�t wnd th� Nht� or not�� ��d sny oth�r
<br /> docunant• evidenci�ng exp�nditur�� •�aur�d h�r�by� �nd Nh�ll d�l iv�r
<br /> to Trustee a writtan notic� o! d��ault •nd •l�at,tnn to cau�� th�
<br /> Property to be �old, and Tru�t��, in turn, �h�ll pr�p�r� � �imil�r
<br /> notice i�n the �orm requir�d by l�►w, which •h+�ll b� duly [i D�d [or
<br /> recnrd by Tru�tee.
<br /> (e�) After the le►p�� at such tinw �� m+►y b� r�quir�d by law
<br /> following ths rscord�tion of Notio• oC CHrlault, •r�d Nakia� dt
<br /> Defsult and Notice Qt Bal� ha�ving b��n yivMn ir K�qulr�d by law,
<br /> Truatee, wi�hauk� d�mend on Tru�tor, Nh�ll. •�ll th• prop�rty
<br /> hereinbefore d��cribad, end any and •v�ry p+�rt th�r�c�t', in •�psxat•
<br /> 5
<br />
|