200101836
<br />6. Sums Advanced to Bear Interest: To pay immediately upon demand any sums advanced or paid by Beneficiary or Trustee
<br />under any clause or provision of this Deed of Trust. Any such sums, until so repaid, shall be secured hereby and bear interest
<br />from the date it was advanced or paid at the same rate as such indebtedness and shall be secured by this Deed of Trust.
<br />7. Assignment of Deposits: That as further additional security if this be a construction loan, Trustor hereby transfers and assigns
<br />to Beneficiary during continuance of these Trusts, all right, title and interest to any and all monies deposited by Trustor or
<br />deposited on behalf of Trustor with any city, county, public body or agency, sanitary district, gas and /or electric company,
<br />telephone company and any other body or agency, for the installation or to secure the installation of any utility by Trustor,
<br />pertaining to this property.
<br />8. Failure of Trustor to Comply with Deed of Trust: Should Trustor fail to make any payment, or to do any act as provided in
<br />this Deed of Trust, or fail to perform any obligations secured by this Deed of Trust, or do any act Trustor agreed not to do,
<br />Trustor shall be in default under this Deed of Trust. Beneficiary, but without obligation so to do and without notice to or
<br />demand upon Trustor and without releasing Trustor from any obligation hereof and without contesting the validity or amount
<br />of the same, may (a) make or do the same in such manner and to such extent as it may deem necessary to protect the security
<br />hereof, Beneficiary being authorized to enter upon such property for such purposes, and (b) pay, purchase, contest or
<br />compromise any encumbrance, charge or lien, which in its judgment is or appears to be prior or superior hereto, and (c) in
<br />exercising any such power, pay necessary expenses, employ counsel and pay his reasonable fees, Trustor agrees to repay any
<br />amount so expended on demand of Beneficiary.
<br />IT IS MUTUALLY AGREED THAT:
<br />Litigation: Trustor shall defend this Trust in any action or proceeding purporting to affect such property, whether or not it
<br />affects the security hereof, or purporting to affect the rights or powers of Beneficiary or Trustee, and shall file and prosecute all
<br />necessary claims and actions to prevent or recover for any damage to or destruction of such property; and either Trustee or
<br />Beneficiary is hereby authorized, without obligation so to do, to commence, appear in or defend any such action, whether
<br />brought by or against Trustor, Beneficiary or Trustee, or with or without suit, to exercise or enforce any other right, remedy or
<br />power available or conferred hereunder, whether or not judgment be entered in any action or proceeding; and Trustee or
<br />Beneficiary may appear or intervene in any action or proceeding, and retain counsel therein; and take such action therein, as
<br />either may be advised and may settle, compromise or pay the same or any other claims and, in the behalf and for any of said
<br />purposes, may expend and advance such sums of money as either may deem necessary. Whether or not Trustor so appears or
<br />defends, Trustor on demand shall pay all costs and expenses of Beneficiary and Trustee, including costs of evidence of title and
<br />attorney's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear by virtue of
<br />being made a party defendant or otherwise and irrespective of whether the interest of Beneficiary or Trustee in such property is
<br />directly questioned by such action, including but not limited to any action for the condemnation or partition of such property
<br />and any suit brought by Beneficiary to foreclose this Deed of Trust.
<br />10. Condemnation: All sums due, paid or payable to Trustor, or any successor in interest of Trustor, whether by way of judgment,
<br />settlement or otherwise, (a) for injury or damage to such property, or (b) in connection with any condemnation for public use
<br />or injury to such property or any part thereof, or (c) in connection with the transaction financed by the loan secured hereby, or
<br />(d) arising out of all causes of action, whether accruing before or after the date of this Deed of Trust, sounding in tort or
<br />contract, including causes of action for fraud or concealment of a material fact together with the settlements, proceeds, awards
<br />and damages, direct and consequential, in connection therewith, are hereby absolutely and irrevocably assigned and shall be
<br />paid to Beneficiary. Beneficiary shall be entitled, at its option, to commence, intervene in, appear in and prosecute in its own
<br />name, any action or proceeding, or to make any compromise or settlement, in connection with any such taking or damage.
<br />Trustor agrees to execute such further assignments of any compensation, award, damages, rights of action and proceeds as
<br />Beneficiary may require.
<br />The amount received by Beneficiary pursuant to this Deed of Trust under any fire or other insurance policy, in connection with
<br />any condemnation for public use of or injury to such property, for injury or damage to such property, or in connection with the
<br />transaction financed by the loan secured hereby are to be applied at the option of Beneficiary upon any indebtedness secured
<br />hereby. No such application, use or release shall cure or waive any default or notice of default hereunder or invalidate any act
<br />done pursuant to such notice.
<br />11. Consent, Partial Reconveyance, Etc.: That at any time, or from time to time, without liability therefor, and without notice,
<br />upon written request of Beneficiary, and without affecting the personal liability of any person for payment of the indebtedness
<br />secured hereby, or the lien of this Deed of Trust upon the remainder of such property for the full amount of the indebtedness
<br />then or thereafter, secured hereby, or the rights or powers of the Beneficiary or the Trustee with respect to the remainder of
<br />such property, Trustee may (a) reconvey any part of such property, (b) consent to the making of any map or plat thereof, (c)
<br />join in granting any easement thereon, or (d) join in any extension agreement or any agreement subordinating the lien or
<br />charge hereof.
<br />12. Full Reconveyance: That upon written request of Beneficiary stating that all sums secured hereby have been paid, Trustee
<br />shall reconvey, without warranty, the property then held hereunder. The recitals in such reconveyance of any matters of fact
<br />shall be conclusive proof of the truthfulness thereof. The grantee in such reconveyance may be designated as "the person or
<br />persons legally entitled thereto ". Such request and reconveyance shall operate as a reassignment of the rents, income, issues
<br />and profits hereinbefore assigned to Beneficiary.
<br />13. Right to Collect Rents and Profits: Notwithstanding any other provisions hereof, Beneficiary hereby grants permission to
<br />Trustor to collect and retain the rents, income, issues and profits of such property as they become due and payable, but
<br />reserves the right to revoke such permission at any time, with or without cause, by notice in writing to Trustor, mailed to
<br />Trustor at his last known address. In any event, such permission to Trustor automatically shall be revoked upon default by
<br />Trustor in payment of any indebtedness secured hereby or in the performance of any agreement hereunder. On any such
<br />default, Beneficiary may at any time without notice, either in person, by agent, or by receiver to be appointed by the Court, and
<br />without regard to the adequacy of any security for the indebtedness secured hereby, enter upon and take possession of such
<br />property, or any part thereof, make, cancel, enforce or modify leases; obtain and eject tenants, set or modify rents; in its own
<br />name sue or otherwise collect the rents, income, issues and profits thereof, including those past due and unpaid; and apply the
<br />same, less costs and expenses of operation and collection, including reasonable attorney's fees, upon any indebtedness secured
<br />hereby and in such order as Beneficiary may determine; and except for such application, Beneficiary shall not be liable to any
<br />person for the collection or noncollection of any rents, income, issues or profits, for the failure to assert of enforce any of the
<br />foregoing rights, nor shall Beneficiary be charged with any duties and obligations of a mortgagee in possession. The entering
<br />upon and taking possession of such property, the collection of such rents, income, issues or profits, the doing of other acts
<br />
|