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<br /> 'I 2. ASSIGNMENT�F LEASES AND RENTS.Trustor irre�acably grants,�on�eys and sell�to Trustee,in
<br /> trust far the benef�t�f 6eneficiary,as additional se�urity all the right,title and interest in and to any and a!�
<br /> existing�r future lease5,subleases,and any other written or�erbal agreements for�he use and oe�upancy of
<br /> any partivn of the Property,including any extensions,renewals,modEficati�ns or substitutions af su�h
<br /> agreements�all referred to as"Leases"}and rents,issues an�prvfts�all referred to as"Rents"}.Trustor will
<br /> pr�mptfy pro�ide Benefi�iary with true and�orrect�vpies of ai!existing and future Leases.Trustor may
<br /> �of fe�t,recei�e,en jay a nd use the Rent�so�ang as Trustar is not in defa u It u nder the terms of th is Se�urity
<br /> Instrument.
<br /> Trustar a�knowledges that this assignment is perfected upon the recording of this Deed of Trust and�hat
<br /> genefi�iary is entitled to nottfy any of Trustvr's tenants tv mak�payment of Rents due or to be�vme due to
<br /> Seneficiary.Howe�er,Benefi�iary agrees that�niy on default w�il Benefi�iary notify Trustor and Trustor's
<br /> tenants and make d�mand that all future Rents be paid directly ta BenefiCiary.�n re�ei�ing n�tic�of default,
<br /> Trustor will endarse and�eli�er tv Beneficiary any payment❑f Rents in Trustor's possessi�n and will rec�i�e
<br /> any Rents in trust for Beneficiary and will nvt commingle the Rents with any other funds.Any amounts
<br /> coll��ted will !�e applied as pro�ided in this Se�ur�ty Instrument.Trustor warrants that no default exists under
<br /> the Leases ar any applicable landlordltenant 1aw.Trustar alsv agr�es to maintain and require any tenant tv
<br /> �vm ply with the terms of the L�ases a nd a ppl i�able Eaw.
<br /> "I 3. LEASEH�LDS;C�ND�MINIUNIS;PLANNED UNIT DEVEL�PMENTS.Trustor agrees to Cvmply
<br /> with the prv�isions of any lease if this Se�urity In�trument is on a ieaseho�d.If the Praperty in�ludes a unit in
<br /> a condominium or a planned unit de�elopment,Trustvr will perform a�l af Trustor's duties under the
<br /> co�enants,by-law5,vr regulativns of the condaminium or planned unit
<br /> de�elopment.
<br /> 14. DEFAULT. Trustor wi{I be in default if any party abligated on the Secured Debt fails ta make payment when
<br /> due.Tru�tor will be in default if a breaeh oC�urs under the terms of this Se�urity ins�rument or any other
<br /> document exe�uted far the purpase of�reat�ng,secu��ng or guarantying the Se�ured Debt.A good faith belief
<br /> by Benefi�iary�hat Benefi�iary at any time is insecure with respe�t to any person or entity ob�igated on the
<br /> Secured Debt or that the prospe�t�f any payment or the�alue of the Property is impa�red shall also�onstitu�e
<br /> a n e�e nt of d efa u It.
<br /> 15. REMEDfES�N DEFAULT.In some instanc�s,federal and state law will require Benefi�iary�o pro�ide
<br /> Trustor wi�h noti�e vf the right to�ure or ath�r notices and may establish tim�s�hedules for fore�lo5ure
<br /> aetions.Subject to these l�mitatEans,if any,Benefi�iary may accelerate the 5ecured Debt and fore�i�se this
<br /> Security Instrument in a manner pro�ided by!aw if Trustor is in default.
<br /> At the opti�n of BenefEciary,ali or any part of the agreed fees and�ha�ges,a�crued in�erest and prin�ipal
<br /> shal�be�vme immediately due and payabie,after gi�ing noti�e if r�quire�by law,upon the oc�u�rence of a
<br /> default or anytime thereafter.In addition,Benefi�iary 5ha!!be entitl�d ta all the remedies pro�ided by law,
<br /> the terms of the Secured Debt,this 5e�ur�ty Instrument and any related documents,in�Euding without
<br /> limitation,th�pow�r to sell the Praper�y.
<br /> If there is a defau�t,Trustee shall,in additivn to any other permitt�d remedy,at the request af the
<br /> Benef�ciary,ad�ertise and sell the Proper�y as a whole or in separate parcels at public auCtion to the highe�t
<br /> bidder for�ash and�an�ey absolute ti�le free and elear of ai�right,title and interest of Trustor at such time
<br /> and pla�e as Trustee designates.Trustee shalf gi�e notice of sa�e including the time,terms and place of sale
<br /> and a des�ri ptivn of the praperty to be said as req u i red by the a pp!ieable law i n�ffe�t at the ti m�of the
<br /> prvposed sale.
<br /> �pon sa�e of th�Property and ta the extent nvt prohibited by law,Trustee shall make and deli�er a de�d ta
<br /> th�Property sold wh�ch con��ys absolute title t�the purchaser,and after first paying all fees,charges and
<br /> Cn5t5,sha1�pay�o Beneficiary all moneys ad�anced far repairs,taxes,insuran�e,liens,assessm�nts and prior
<br /> encumfaran�es and interest thereon,and the prin�ipaf and interest on the Se�ured Debt,paying the surplus,if
<br /> any,to TruStor.Benefi�iary may purchase the Prap�rty.The�ecitais in any deed of�an�eyane�shall be
<br /> prima fa�ie e�idence of the fa�ts set forth therein.
<br /> AI� remedies are distinct,�umulati�e and not ex�lusi�e,and the Ben�fi�iary is entitled to a�l remedies
<br /> provided at law or equity,whether or not expressly set forth.The acceptance by B�n�ficiary of any sum in
<br /> payment or par�ial payment an the Secured Debt after the ba�ance is due ar is a��elerated or aft�r for��losure
<br /> proceedings are f�ied sha�l not constitute a wai��r of Benefi�iary's right to require eomple�e cure of any ,
<br /> exi�ting default.8y not exercising any remedy on Trustor s defau�t,Benefi�iary dnes nat wai�e Benef�ciary s
<br /> ' r he e�ent a default if tt�ontinues❑r ha �ns
<br /> r�ght to later�ons�de t pp
<br /> again. � e4vf7)
<br /> 1994 Walters Kfuwer Finan�iai Services-Bankers Systems * Form 115B-REDT-NE�"kl"I 61��1�
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