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��15�58��
<br /> "i Z. A551�NMENT QF LEASES AND RENTS.Trustor irreWo�ably grants,conveys and sells to Trustee,in
<br /> trust for the benefit nf Beneficiary,as addit'ional security ali the right,title and interest in and to any and aE�
<br /> existing or future leases,subleases,and any other written ar�erbal agreements#or the use and a�eupancy vf
<br /> any portion af the Property,ineluding any extensions,renewals,modifi�ation5 ar substitutions of su�h
<br /> agreements�all referred tn as"Leases"}and rents,is�ue�and profits(all referred to as"Rents"].Trustor will
<br /> promptly pro�idQ Beneficiary with true and c�rre�t�opies of all existing and futu�e Leases.Trustar may
<br /> �olfect,recei�e,enjoy and use the Rents so long as Trustor is not in default under the terms�f this 5ecurity
<br /> Instrument.
<br /> Trustvr acknowledges that this assignm�nt i�perfected upan the rec�rding of this Deed ofTrust and that
<br /> Beneficiary is entit�ed ta natify any of Tru�tar's tenants�o make payment of Rents due❑r to becorne due t�
<br /> BenefEeEary.H�WpVp�',Benefi�iary agrees that only on default w���Beneficiary nvtify Trustor and Trustor`s
<br /> tenants and rnake dernand that aii future Rents be paid directly to Beneficiary.Qn receiving nvtice of default,
<br /> Trustvr will endorse and deli�er ta Beneficiary any payment of Rents in Tru�tor's passession and will recei�e
<br /> any Rents in trust f�r Benefi�iary and wi��not�ornmingle the Rents with any other funds.Any amount5
<br /> �ollected will be applied as prflvided�n this Se�uri�y Inst�ument.Trustvr warrants that no default exists under
<br /> the Leases�r any appli�able landlvrdltenant�aw.Trustor alsa a�rees ta ma�ntain and require any tenant t�
<br /> cornply wi�h the terms of the Leases and applicable�aw.
<br /> 13. LEASEH�LDS;C�ND�M�NiUMS;PLANNED UNIT DEVEL�PMENTS.T�ustor agrees ta comply
<br /> with the prv�isions�f any lea�e if th�s Se�urity Instrument is on a leasehold.�f the Property in��udes a un�t in
<br /> a condominium or a planned unit developrnent,Trustor w�il perfarm all of Trustor's duties under the
<br /> co�enants,by-laws,vr re�uiatians of thQ condorninium or planned unit
<br /> de�el❑pment.
<br /> "14. DEFAULT. Trustor will be in default if any party obligated on the Se�ured Debt fails to make payment when
<br /> due.Tru�tor wilf be in default if a brea�h oeeurs under the termS af this 5ecurity lnstrument or any other
<br /> da�ument exe�uted for the purpose�f�reating,securing or guarantying the Se�ured Debt.A g�ad faith befief
<br /> by Bene�iciary that Beneficiary at any time is in�e�ure with re�peCt to any person or entity obligated on the
<br /> Secured Debt ar that the prospe�t�f any payrnent or the�alue of the Property is impaired shall alsa e�n5titute
<br /> an e�ent af defau�t.
<br /> 15. RENIEa�ES�N DEFAVLT.!n sorne instances,federaf and state law will require Beneficiary ta pro�ide
<br /> Trustor with not�ce o�the right to cure or o�her notices and may estabfi5h time schedules for fareclosure
<br /> actians.Suhject ta these iirnitations,if any,Beneficiary may a�ce�erate the S�cured Debt and foreclose this
<br /> Security Instrument in a manner pro�ided by�aw if�rustor is in defau�t.
<br /> At the aption af Benefaciary,ali❑r any pa�t of the agreed fees and charges,a�trued interes�and principal
<br /> shall became immediately due and payable,after giving notice if required by law,upon the accurrence of a
<br /> de�ault ar anytime thereafter.In addition,Beneficiary shall be entitled to ali the remedies pro�ided by law,
<br /> the terms of the Secured Debt,this Security Instrument and any related dotument5,in�luding withou�
<br /> fimitation,the pv►nrer tv sell the Praperty.
<br /> if there i�a default,Trus�ee shall,in addition to any other permitted rernedy,at the request of the
<br /> Beneficiary,ad�ertise and sell the Prvperty as a whale or in separate parcels at publi�auctian to the highest
<br /> bidder for�a�h and�vn�ey absolute title free and c�ear of all right,title and interest�f Trustor at su�h time
<br /> and place as Trustee designates.Tru�tee shall give notiee af sale in�luding the t+m�,terms and pla�e of sale
<br /> and a descriptian�f the praperty t�he sofd as required by the applicable iaw in effe�t at the time ofthe
<br /> prapvsed sale.
<br /> �pon sale of the Property and to the extent not prohibited by law,Trustee shafl rnake and deli�er a deed ta
<br /> the Property sold which conveys absolute title to th�pur�haser,and afte�first paying all fees,�harges and
<br /> casts,shall pay tv Beneficiary al�maneys ad�an�ed for repai�s,taxes,insuran��,liens,assessrnents and privr
<br /> encumbrances and interes�thereon,and the principa!and interest on the Secured Debt,paying the surplus,if
<br /> any,to Trustvr.Beneficiary rnay purchase the Property.The re�itals in any deed of can��yance shall be
<br /> prima facie evidence af the facts set fvrth therein.
<br /> AI!remedi�s are distinct,cumulati�e and nat exefusive,and the Beneficiary is entitled ta all remedies
<br /> pravided at law or equ�ty,whether or nvt expres�ly set forth.The acceptance by Beneficiary of any�um in
<br /> payment or partial payment an the Seeured Debt after the balance is due vr is accelerated or after far�clo5ure
<br /> prv�eedings are filed shall not constitute a waiver of Benef�iary's right to require camplete cure of any
<br /> existing default.By not exereising any remedy vn Trustar's default,Beneficiary doe�not wai�e Bene�iciary's
<br /> ri ht to later�ansider the e�ent a default if it cant'rnues or happens
<br /> 9
<br /> again.
<br /> {page 4�f 7}
<br /> _1994 Wvlters Kluwer Fi�antial 5er�ices-Sankers 5ystern5 * Forrn USB-i�EOT-NE 1111 fi1�03 2
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