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<br /> 1�. A55�GNMENT�F LEASES AND RENTS.Trustvr irre�ocably grants,con�eys and sells to Trustee,in
<br /> trustforthe benefit vf Beneficiary,as additiona!securityall the right,title and interest in and to anyand all
<br /> �xisting or futur�lease�,sublease�,and any other written or�erbal agreernents for the use and occupancy of
<br /> anypartion ofthe Property,including anyexten�ians,renewals,mvdificativns orsubstitutiv,nsofsuth
<br /> a�reements tall referred ta as"Lea�es"�and rents,Essues and profits(all referred to as Rents }.Trustor w�ll
<br /> promptly prv�ide Beneficiary with true and correct copies of all existing and future Leases.Trustor may
<br /> colle�t,reeei�e,enjoy and use the Rents so I�ng as Trust�r is nat in default under the terms of this Security
<br /> lnstrument.
<br /> Trustvr aeknowledges that this assignment is pe�feeted upon the re�ording of th�s Deed a�Trust and that
<br /> Beneficiary is entitled tv natify any of Trustor's tenants to make payment af Rents due or to become due t❑
<br /> Beneficiary.HawevQr,Beneficiary ag�eesthatonlyon defaultwil�Benefi�iary notifyTrustarand Trustors
<br /> t�nants and make dernand that alf futur�Rents be paid directly to Benefitiary.�n receiv�ng noti�e o�default,
<br /> Trustar will endvrse and deli��r�o Benefitiary any payment of Rents in TruStvr's possession and will reeei�e
<br /> any Rents in tru$�for Beneficiary and w�ll not c�mmingle the Rents with any other funds.Any amounts nder
<br /> collected will be applied as pra�ided in this Security Instrument.Trustor warrants that no default exists u
<br /> the Leases vr any appli�able landlordltenant law.Trustor also agr�es to maintain and require any tenant to
<br /> comply with the terms vf the Leases and applicable iaw.
<br /> 13. LEASEH�LDS;C�ND�MINIUNlS;PLANNED UNiT DEVEL�PMENTS.Trustvr agrees ta�omply
<br /> with the prvvisian�of any lease if this 5e�urity lnstrurnent is on a leasehold.If the Property in�ludes a unit�n
<br /> a eandaminiurn ora planned unit de�elopment,Trustorwill per�orm ai�ofTrustor's duties underthe
<br /> co�enants,�y-laws,or regulations of the candominrum or planned unit
<br /> de�elapment.
<br /> 14. DEFAULT. Trustar will�e in default if any party ob�igated on the Secured Debt fails to rnake payrnent when
<br /> due.Trustor will be in de�ault if a breach v��urs under the terms of this 5e�urity lnstrument�r any other
<br /> document executed for the purpose❑f�reating,seeuring ar guarantying the 5ecured Debt.A gvod fai�h belief
<br /> b Beneficia�y that Beneficiary at any time is inseeure with r�speet to any person vr entity obligated on the
<br /> Y
<br /> 5ecured Debt�r that the prospect of any payment or the�a1ue of the Property is impaired shail also cvnstitute
<br /> an e�ent of default.
<br /> 'I 5. REME�IES QN DEFAULT.In som�instan�es,federal and state law will require Beneficiary to provide
<br /> Trustor with nvtiee of the right ta eure ar vther notices and may establish tirne schedules fvr fore�losure
<br /> a�tions.Subjecttothese limitatians,if any,Benefieiary maya�celeratethe 5ecured Debt and foreclo�ethis
<br /> Security Instrurnent in a manner pro�ided by iaw if Trustor is in default.
<br /> At the aption of Beneficiary,ali ar any part❑f the agreed fees and tharges,accrued interest and prin�ipal
<br /> shall�e�ome immed�ately due and payable,after�iWing not�ce if required by iaw,upon the o�currenee vf a
<br /> default vr anytime thereafter,in addition,Benefieiary shafi be entitled to ali the remedies pro�ided by law,
<br /> the terms vf the Seeured Debt,thi5 Security ln�trument and any related do�uments,�neluding w�thout
<br /> limitation,the power�o sell the Praperty.
<br /> l�there is a default,Trustee shal�,in addition to any other permitted remedy,at the request v�th�
<br /> BenefiCiary,advertise and sell the Prop�rty as a whole vr in separate parcels at pu�1i�au�tian to the h�ghest
<br /> bidderforcash and con�ey absolutetitfefree and clearof all right,titieand interes�ofTrustorat su�htime
<br /> and piaceasTrustee designates.Trustee shall gi�e notice of sale in�lu�ing thetime,terms and pla�eo�sale
<br /> and a deS�ription o�the prvperty to b�sold as required by the applicable law in effect at the t�me of the
<br /> proposed sa1e.
<br /> U on sale o�the Property and tn the extent not prohibited by law,Trustee_sha11 rnake and deli�er a deed to
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<br /> the Pra erty sofd wh�ch�vn�eys absolute title to the pur�haser,and after�irst paying al�fees,charges and
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<br /> costs,sha11 pay to Beneficiary all moneys ad�anced for repairs,taxes,insurance,liens,assessments and pr�or
<br /> encumbrances and interesttherean,and the principa!and intereston the S��ured Debt,payang th�surplus,if
<br /> any,to Trustor.Beneficiary may purchase the Pr�perty.The recitals in any deed of con�eyance sha11 be
<br /> prima facie e�idence of the facts set forth therein.
<br /> All�emedies are distinct,�umulat��e and nvt exclusive,and the Beneficiary is entitled to all remedies
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<br /> r�vided at law ar equity,whether or nvt expressly�et forth.The a�ceptance by Benefi�iary af any sum�n
<br /> a ment or partiai payment on the Se�ured Debt after the balance is due or is a�celerated ar after f�r�clasure
<br /> PY
<br /> raceed�n s are filed shall not�onstitute a waive�vf Benefi�iary's right to require�omplete�ure of any �
<br /> existin default.B no�exer�is�ng any remedy on T�ustor's default,Beneficiary does not wai�e Beneficiary s
<br /> � derthe e�enta defau�t if ittontinues ar happens
<br /> r�ghtto Iatercons
<br /> again. (page 4 of 7�
<br /> �994 Wolters iCluwer Finan�iai Servires-8anker5 5ystems * Form�SB-RE�T-NE'I"!Il fi1�012
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