|
; .
<br />:� ( '�
<br />�; � - _...
<br />.3!? . ..T-.se..
<br />� � ' �
<br /> � b" 00530 � ' �
<br /> _3_
<br /> All sums incurred or expended by Beneficiary or Trustee in accordance with I
<br /> the provisions of this Trust Deed are secured hereby and , without demand ,
<br /> shall be immediately due and payable by Trustor and shall bear interest at
<br /> the maximum allowable legal rate ; provided , however , that at the option of
<br /> Beneficiary or Trustee such sums may be added to the principal balance of
<br /> any indebtedness secured herehy and shall bear the same interest as such in-
<br /> debtedness and shdll be payable ratably over the remaining term thereof .
<br /> 8 : Aseignment of Rents . Seneficiary shall have the right , power and author-
<br /> ity during the continuance of this Trust Deed to collect the rents , issues
<br /> and profits of the Property and of any personal property located thereon with
<br /> or without taking possession of the property affected herehy , and Trustor here-
<br /> ! by absolutely and unconditionally assigns all such rents , issues and profits to
<br /> 1r ; Beneficiary . Beneficiary , however , hereby consents to the Trustor ' s collec-
<br /> tion and retention of such rents , issues and profits as they accrue and be-
<br /> come payable so long as Trustox is not , at such times , in default with respect
<br /> �' z to payment of any indebtedness secured hereby or in the performance of any
<br /> agreement hereunder . Upon any such default , Beneficiary may at any time ,
<br /> either in person , by agent , or by a receiver to be appointed by a court , with-
<br /> ' ; out notice and without regard to the adequacy of any security for the indebted-
<br /> -:' , ness hereby secured , (a) enter upon and take possession of the Property or any
<br /> part thezeof , and in its own name sue for or otherwise collect sucli rents ,
<br /> issues and profits , including those past due and unpaid , and apply the same ,
<br /> € .; less costs and expenses of operation and collection , including reasonable
<br /> ; :' attorney fees , upon any indebtedness secured hereby , and in such order as
<br /> Beneficiary may determine ; (b ) perform such acts of repair or protection as
<br /> - may be necessary or proper to conserve the value of the Property ; (c ) lease
<br /> the same or any part thereof for suc}i rental , term , and upon such conditions
<br /> � � as its judgment may dictate . Unless Trustor and Beneficiary agree otherwise
<br /> in writing , any application of rents , issues or profits to any indebtedness
<br /> secured hereby shall not extend or postpone the due date of the installment
<br /> payments as provided in said promissory note or change the amount of such in-
<br /> t; + stallments . The entering upon and taking possession of the Property , the col-
<br /> }
<br /> lection of such rents , issues and profits , and the application thereof as afore-
<br /> said , shall not waive or cure any default or notice of default hereunder , or
<br /> k ; invalidate any act done pursuant to such notice . Trustor also assigns to Bene-
<br /> � ' ficiary , as further security for the performance of the obligations secured
<br /> hereby , all prepaid rents and all monies which may have been or may hereafter
<br /> be deposited with said Trustor by any lessee of the Property , to secure the
<br /> � � payment of any rent , and upon default in the performance of any of the pro-
<br /> f,
<br /> visions hereof , Trustor agrees to deliver such rents and deposits to the Bene-
<br /> ,; ,i ficiary . Delivery of wri [ ten notice of Beneficiary ' s exercise of the rights
<br /> x ' granted herein , to any tenant occupying said premises shall be sufficient to
<br /> '' ` require �aid cenant to pay said rent to the Beneficiary until further notice .
<br /> $ 9 . Condemnation . Zf title to any part of the Property shall be taken in con-
<br /> ' demnation proceedings , by right of eminent domain or similar action , or shall
<br /> ' be sold under threat of condemnation , all awards , damages and proceeds are
<br /> hereby assigned and shall be paid to Beneficiary who shall apply such awards ,
<br /> P damages and proceeds to the sums secured by the Trust Deed , with the excess ,
<br /> F if any , paid to the Trustor .
<br /> " 10 . Future Advances . Upon request of Trustor , Beneficiary , at IIeneficiary ' s
<br /> option , prior to reconveyance of the Property to the Trustor , may make future
<br /> advances to the Trustor . Such future advances , with interest thereon , shall be
<br /> � secured by this Trust Deed when evidenced by promissory notes stating that said
<br /> notes are secured hereby ; provided that at ne time shall the secured principal ,
<br /> future advances , not including sums advanced to protect the security , exceed
<br /> ;, One-Hundredpercent ( 100 `/< ) of the original principal amounts secured hereby .
<br /> 11 . Remedies Cumulative . All remedies provided in this Trust Deed are dfstinct
<br /> and cumulative to any other right or remedy under this Trust Deed or afforded by
<br /> law or equity , and may be exercised concurrently , independently or successively . ' � ' �� � .
<br /> 4�'F '
<br /> . � !V -•::;.,�� ::
<br /> I �
<br />�' � :
<br /> �
<br /> k;
<br /> k'
<br />�>
<br />�;�
<br />� � _ �
<br />= �
<br />- �
<br /> i
<br />
|