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Last modified
7/20/2017 7:24:59 PM
Creation date
10/20/2005 7:45:48 PM
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DEEDS
Inst Number
200001001
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2000��001 <br /> tion of proceeds to indebtedness shall not extend or postpone the <br /> due date of any payments under the Note, or cure any default <br /> thereunder or hereunder. <br /> 6. Condemnation. In the event the property, or any part <br /> thereof, shall be taken by eminent domain, Beneficiary is enti- <br /> tled to collect and receive all compensation which may be paid <br /> for any property taken or for damages to property not taken, and <br /> Beneficiary shall apply such compensation, at its option, either <br /> to a reduction of the indebtedness secured hereby or to repair <br /> and restore the property so taken. <br /> 7 . Performance by Beneficiarv. Beneficiary may, but shall <br /> have no obligation to, do any act which Trustor has agreed but <br /> failed to do, and Beneficiary may also do any act it deems neces- <br /> sary to protect the lien hereof. Trustor agrees to repay, upon <br /> demand, any sums so expended by Beneficiary for the above pur- <br /> poses, and any sum so expended by Beneficiary shall be added to <br /> the indebtedness secured hereby and become secured by the lien <br /> hereof. Beneficiary shall not incur any personal liability be- <br /> cause of anything it may do or omit to do hereunder. <br /> 8. Assignment of Rents. Beneficiary shall have the right, <br /> power and authority during the continuance of this Deed of Trust <br /> to collect the rents, issues and profits of the property and of <br /> any personal property located thereon with or without taking pos- <br /> session of the property affected hereby, and Trustor hereby abso- <br /> lutely and unconditionally assigns all such rents, issues and <br /> profits to Beneficiary. Beneficiary, however, hereby consents to <br /> Trustor' s collection and retention of such rents, issues and <br /> profits as they accrue and become payable, so long as Trustor is <br /> not, at such time, in default with respect to payment of any in- <br /> debtedness secured hereby, or in the performance of any agreement <br /> hereunder. If any event of default described hereafter in re- <br /> spect to this Deed of Trust shall have occurred and be continu- <br /> ing, Beneficiary, as a matter of right and without notice to <br /> Trustor or anyone claiming under Trustor, and without regard to <br /> the value of the trust estate or the interest of the Trustor <br /> therein, shall have the right to apply to any court having juris- <br /> diction to appoint a receiver of the property. <br /> 9. Inspections. Beneficiary, or its agents, representa- <br /> tives or workmen, are authorized to enter at any reasonable time <br /> upon or in any part of the property for the purpose of inspecting <br /> the same and for the purpose of performing any of the acts it is <br /> authorized to perform under the terms of any loan instruments <br /> executed by Trustor. <br /> 10. Transfer of Propertv. If all or any part of the prop- <br /> erty or any interest of Trustor therein is sold, transferred or <br /> further encumbered without the express or written consent of <br /> Beneficiary, Beneficiary may, at its sole option, declare all <br /> sums secured by this Deed of Trust to be immediately due and pay- <br /> able and proceed to the remedies available to it under the de- <br /> fault provisions contained herein. <br /> 11. Events of Default. Any of the following events shall <br /> be deemed an event of default hereunder: <br /> (a) Trustor shall have failed to make <br /> payment or any installment of interest, prin- <br /> cipal or principal and interest or any other <br /> sums secured hereby when due; <br /> (b) There has occurred a breach of or <br /> default under any term, covenant, agreement, <br /> condition, provision, representation or war- <br /> ranty contained in this Deed of Trust, the <br /> note or any other loan instrument secured <br /> hereby; <br /> 3 � <br />
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