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<br /> by ownsr's and operAtors of similar propertlea end as Benoficlary mey require for Its proYectfon. Trustor will complY , f.LL.
<br /> wlth such other requlremente �S All Insurence polfc es meintained purauent tothis Deedtof Truat shall neme Tru toe
<br /> interest oi the respective partfes. ����`�
<br /> � nnd Beneffclery as Insured, es their respective Interest may appear and provide thet there sha�l be no cancelletioQ'C� ___
<br /> � modiflcetfon wlthout flftaen (16) deys prlor wrftten notificatlon to Trustee and Beneflclary. IN the event ony p
<br /> � � hereunder le not renewed on ar before flfteen 116)deys prlor to Its expiretlon det�,II delivee to Benefici�arynthe or ginal �.�`�
<br /> � j euch insuranee in accordAnce with the provislone of Paregreph 7. Truator sh �_2tr�_
<br /> pollcfAa of Insurance and renewals thereof or coples of such policles and renewels thereof. Faiiure to furnish such , r+.�,r.
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<br /> • insurance by Truetor,or renewels as requlred hereunder, shall, at the optlon of Beneficfary, canstftute a defeult. All . - .� �
<br /> "* unearned premiums nre hereby assigned to Trustee es eddltional security, end a sale and conveynnce of the Property '
<br /> by the Trustae shall operate to convey to the purcheser the Trustor's intereat In end to all policies of insurance upon ��..,."
<br /> the Trust Property. 9 ,ii�-:"—
<br /> � � . u•onpthe Pn perty be ore deli qruency and wfll delfver to Benef ceery op eseof receiptseshowing payment of such -__ - - - -
<br /> ' due p , :
<br /> ' taxes end special assessments. ,,,
<br /> ' B. Additionel Uens. Trustor shall meke ell payments of interest and principel,and payments of eny othior Deed of �'..`;?'-
<br /> � fees, end expenses contracted to be paid to any existing Ilen holders or prior beneficieries under eny p - _�
<br /> � Trust, Mortgage or other sacurity egreement, before the date they are delinquent and to pay any other cleim which N_'
<br /> � jooperdizes the security granted herein. -;_,,
<br /> } �, Protection of Beneficiary's Sec�►ity. Should Trustor fail to meke any payment, fail to da eny act as here n `,y,-�`•-
<br /> j provided or if ano Iimiited to,remineing dome nmelnsolvency, areraengemontscor p oceedings involvi g e bankruptrtor °; _
<br /> including, but n � s�,_.
<br /> , � decedent,then Beneficiary or Trustee,but without obligation to do so,and without notice to or demAnd upon Tructor, :'. �,
<br /> and without releasing Trustor from eny obligetion hereunder, may meke or do the same, and 88 s ioleffect said � �
<br /> , �! contest or compromise andy encumbrance, charge or lien, which in the judgement of either app �
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<br /> Property;in exerclsing any such powers,the Beneficiary or Trustee mey Incur a Ilability end expeiid whetever amounts, ,�4_
<br /> - +�' including dtebursements of reasonable attorney's feea, which in thefr absolute discretfon may be necessary. Iri the ?,. _ ,
<br /> s i event that Trustor shall fefl to procure insurance, fait to pay taxes and special essessmenta or feil to make any ��� ��•,_
<br /> payments to existing or prior lien holders or beneflcierfes,the Beneficiary mey procure such insurance and meke such ti�-
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<br /> •_ � � peymente. All sums incurred or expended by Beneficiary or Trustae in eccordence with the provisions of the Deed of ��'=:
<br /> Trust ere secured hereoy a�;ci,wtit�av=d��8nd• g�'�!�hA immedietely due end payeble by Trustor and shall bear interest : ry_
<br /> at the rate provfded for advences under the Loan Agreement; provided,however,thet et the Optlon oi ti�te 8e�i�nfiGiefy ��a��=_
<br /> �RS�i:
<br /> or Trustee, such sums may be added to this principal balance of eny indebtedness secu�ed hereby and shall bear the ���Y
<br /> ' ' . � same fnterest as such indebtedness end shall be peYeble retebly over the remaining term thereof. �
<br /> �•� 8. Assignment of Rents. Beneficiary shall have the right,power and authority during the continuance of this Deed ._�
<br /> of Trust to coilect the rents, issues and profits of the Property end of any personal property loceted thereon with nr �:4
<br /> .'� without teking posaession of the Property aifected hereby, and Trustor hereby absolutely and unconditionally assigns �..
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<br /> � �. all such rents, issues and profits to Beneficiary. Beneficfary, however,hereby consents to the Trustor's collection en �q_,
<br /> " :��, retention of such rents,issues end profits as they accrue and become payable so long es Trustor is not,at such time, _
<br /> � in default with respect to p�Yment of eny indebtedness secured hereby or in the performance of any agreement
<br /> ,'• hereunder. Upon any such default, Beneficlary may at eny tfine, either in person, by agent or by a recelver to be
<br /> ;,• appointed by a court, wfthout notfce and with�ut rogard to the adequec e t ther of and in its ownename sue foreor
<br /> • secured: (al enter upon and take possesslon of the Property or any p ._
<br /> otherwise collect such rents, issues end profits, including those pest due end unpaid, en apply the sema, less costs �
<br /> , � � and expenses of operetion and collection, includiiig reasonable attorney fees,upon eny indebtedness secured hereby -
<br /> k � � and In nuch order as Beneffcfary may determine: (b)perform such acts of ropeir or protectfon ps may be necessary or
<br /> � 2 � proper to conserve the value of the Proporty: (c1 leeae the seme or any pert hereof for such rental term and upon such
<br /> �, f. � condltions as its Judgment may dictete. Unless Trustor and Beneficiary agree otherwise in writing, any appllcation of �-.-�,_ s
<br /> � rents, issues or profits to any indebtedness secured hereby shall not extend or postpone the due date of the(nstallment �_; -
<br /> , � �� peyments as provided in the Loan Agreement, end the applicetion thereof as aforesaid shall not weive or cure any _
<br /> � defeult or notice of defeult hereunder or invalidate any ect done pursuent to such notice. Trustor also essigns to _:.���.,
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<br /> � Beneficiary, as further security for the performance of the oblfga4fons secured hereby,all prepeid rents and all monies ;::'r ^
<br /> � which may have been or may hereafter be deposited with seid Trustor by any lessee of the Proporty,t� secure the t , ,�
<br /> I payment of any rent, and upon defeult in the performance of any of the provisions hereof, Trustor agrees to delfver "��,• ;��. _, ,
<br /> i such rents end deposits to the Beneficiary. Delivery of written notice of Beneficfary's oxercise of the rights granted �":�.� •- •- {"
<br /> in said premises shall be sufficient to require said tenant to pay said rent to the :.'�!�,'
<br /> • � herein to eny tenant occupy g -•r�'� •
<br /> Beneficfary until further notice. • �,
<br /> 1 9. Condemnation. If title to any part of the Property shall be taken in condemnatfon proceedings, by right of '
<br /> � � eminent domain or similar action, or shall be sold under threat of condemnetion,all awards, damages and procaeds
<br /> j are hereby assignod and shell be peid to Beneficiery who shall apply such award,damages and proceeds to the sums
<br /> secured by the Deed of Trust, with the excass, if eny, paid to the Trustor.
<br /> 10. Future Advencc►s. The Loan Agreement provides for advances from time to time to Trustor by Beneficiary
<br /> l as provided therein. In eddition,upon request of Trustor, Beneficiery, at Beneficiary's option, prfor to reconveyance
<br /> � of the Property to the Trustor, may makn add^f Tr�i�tuwhen ev d nced byhprornissory otes stating that sa d Inot�es
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<br /> interest thareon,sna�� od�v���e��r •^�° �--°~ _. -- - ..--___ -- .
<br /> 'i are secured hereby; provided thet at no time shall the secured principel and future advances, not mcivaing sums
<br /> advanced to protect the security, excc�ed one hundred percent (100%) of the original principel amounts secured
<br /> hereby. ,
<br /> 11. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulaYive to any ot er I
<br /> right or remedy under this Deed of Trust or afforded by law or equity, and may be exercised conc�rrently,
<br /> independently or successively. �
<br /> 12. Acceleration; Remedios; Sale. A default shall exist in the event of: `
<br /> (A) Any fraud or misrepresentation by the Trustor in connection with the line of credit which this Deed of Trust
<br /> secures; �
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<br /> ' 9/94 I
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