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201402195
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Last modified
8/19/2014 2:25:50 PM
Creation date
4/16/2014 8:20:17 AM
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DEEDS
Inst Number
201402195
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20140219 <br />including reasonable attorney's fees, upon any indebtedness secured <br />hereby and in such order as Beneficiary may determine; (b) lease the <br />same or any part thereof for such rental, term and upon such <br />conditions as Beneficiary's judgment may dictate or terminate or <br />adjust the terms and conditions of any existing lease or leases. <br />Unless Trustor and Beneficiary agree otherwise in writing, any <br />application of rents, issues or profits to any indebtedness secured <br />hereby shall not extend or postpone the due date of the installment <br />payments as provided in the Note or change the amount of such <br />installments. The entering upon and taking possession of the <br />Property, the collection of such rents, issues and profits, and the <br />application thereof as aforesaid, shall not waive or cure any default <br />or notice of default hereunder, or invalidate any act done pursuant <br />to such notice. Trustor assigns to Beneficiary, as further security <br />for the performance of the indebtedness and obligations secured <br />hereby, all prepaid rents and all moneys which may have been or may <br />hereafter be deposited with Trustor by any lessee of the Property, to <br />secure the payment of any rent or damages, and upon default in the <br />performance of any of the provisions hereof, Trustor agrees to <br />deliver such rents and deposits to Beneficiary. Delivery of written <br />notice of Beneficiary's exercise of the rights granted by this <br />paragraph THIRD to any tenant occupying the Property or any portion <br />thereof shall be sufficient to require said tenant to pay said rent <br />to Beneficiary until further notice. <br />FOURTH. If there shall be filed by or against the Trustor any <br />petition or proceeding seeking any arrangement or composition or <br />extension of any other relief under or pursuant to the Federal <br />Bankruptcy Code or any other similar statute as is now or hereafter <br />in effect, or if the Trustor shall be adjudicated bankrupt or <br />insolvent or any of Trustor's property shall have been sequestered <br />and such decree shall have continued undischarged and unstayed for 90 <br />days after the entry thereof, then the whole of the Note and <br />indebtedness hereby secured shall, without notice, at the option of <br />the Beneficiary, become due and payable. <br />FIFTH. Upon default by Trustor in the payment of or performance <br />of the terms and conditions of the Note, or any renewals, <br />modifications or executions thereof, the payment of any other <br />indebtedness secured hereby or in the performance of any agreement, <br />covenant or warranty herein contained or set forth in any agreement <br />or instrument executed by Trustor in connection with the indebtedness <br />hereby secured, Beneficiary may declare all sums secured hereby <br />immediately due and payable and the same shall thereupon become due <br />and payable without presentment, demand, protest or notice of any <br />kind. Thereafter, Beneficiary may deliver to Trustee a written <br />declaration of default and demand for sale. Trustee shall have the <br />power of sale of the Property and if Beneficiary decides the Property <br />is to be sold, it shall deposit with Trustee this Deed of Trust and <br />the Note or notes and any other documents evidencing expenditures <br />secured hereby, and shall deliver to Trustee a written notice of <br />default and election to cause the Property to be sold, and Trustee, <br />in turn, shall prepare a similar notice in the form required by law, <br />which shall be duly filed for record by Trustee. <br />(a) After the lapse of such time as may be required by law <br />following the recordation of Notice of Default, and notice of <br />Default and Notice of Sale having been given as required by law, <br />Trustee, without demand on Trustor, shall sell the Property <br />hereinbefore described, and any and every part thereof, in <br />separate parcels or en masse as the Trustee may elect and in <br />such order as Trustee may determine on the date and at the time <br />and place designated in said Notice of Sale, at public auction <br />
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