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200100106
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200100106
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Last modified
10/13/2011 11:12:27 PM
Creation date
10/20/2005 7:45:52 PM
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DEEDS
Inst Number
200100106
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200100106 <br />indebtedness secured hereby and in such order as Beneficiary may <br />determine, (ii) to.the Trustor to be used for the repair or <br />restoration of the Property or (iii) for any other purpose or <br />object satisfactory to Beneficiary without affecting the lien of <br />this Deed of Trust for the full amount secured hereby before <br />such payment evd:r took place. Any application of proceeds to <br />indebtedness shall not extend or postpone the due date of any <br />payments under the Ngte, or cure any default thereunder or <br />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 Beneficiary. Beneficiary may, but <br />shall have no obligation to, do any act which Trustor has agreed <br />but failed to do, and Beneficiary may also do any act it deems <br />necessary to protect the lien hereof. Trustor agrees to repay, <br />upon demand, any sums so expended by Beneficiary for the above <br />purposes, and any sum so expended by Beneficiary shall be added <br />to the indebtedness secured hereby and become secured by the <br />lien hereof. Beneficiary shall not incur any personal liability <br />because of anything it may do or omit to do hereunder. <br />8. Assignment of Rents. Beneficiary shall have the <br />right, power and authority during the continuance of this Deed <br />of Trust to collect the rents, issues and profits of the <br />property and of any personal property located thereon with or <br />without taking possession of the property affected hereby, and <br />Trustor hereby absolutely and unconditionally assigns all such <br />rents, issues and profits to Beneficiary. Beneficiary, however, <br />hereby consents to Trustor's collection and retention of such <br />rents, issues and profits as they accrue and become payable, so <br />long as Trustor is not, at such time, in default with respect tc <br />payment of any indebtedness secured hereby, or in the <br />performance of any agreement hereunder. If any event of default <br />described hereafter in respect to this Deed of Trust shall have <br />occurred and be continuing, Beneficiary, as a matter of right <br />and without notice to Trustor or anyone claiming under Trustor, <br />and without regard to the value of the trust estate or the <br />interest of the Trustor therein, shall have the right to apply <br />to any court having jurisdiction to appoint a receiver of the <br />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 <br />inspecting the same and for the purpose of performing any of the <br />acts it is authorized to perform under the terms of any loan <br />instruments executed by Trustor. <br />10. Transfer of Property. 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 <br />payable and proceed to the remedies available to it under the <br />default provisions contained herein. <br />J <br />
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