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201605326
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7/3/2017 5:40:45 PM
Creation date
8/17/2016 4:06:28 PM
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DEEDS
Inst Number
201605326
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awarded to Trustor (not exceeding the amount then due to Beneficiary pursuant to the Loan <br />Documents) are hereby assigned to Beneficiary, and Trustor shall execute such further <br />assignments of such proceeds as Beneficiary or Trustee may require. <br />Section 3.09. Due on Sale and Due on Encumbrance. Trustor shall not (a) sell or transfer <br />all or any part of the Property or any interest therein, including, but not limited to, by an option to <br />sell, a sale or transfer by deed or land contract, or by contract for deed or (b) encumber, pledge, or <br />mortgage all or any part of the Property or any interest therein, in either case without Beneficiary's <br />prior written consent. In the event of a violation of the provisions of this Section 3.09, Beneficiary <br />may, at its option, declare all the sums secured by this Deed of Trust to be immediately due and <br />payable. <br />FNBO /Nova -Tech <br />Deed of Trust <br />DOCS/1660316.5 <br />ARTICLE IV <br />RIGHTS OF TRUSTEE AND BENEFICIARY <br />ARTICLE V <br />COMPENSATION, EXCULPATION, INDEMNIFICATION <br />9 <br />201605326 <br />Section 4.01. Releases, Extensions, Modifications, and Additional Security. From <br />time to time, Beneficiary may perform any of the following acts without incurring any liability, <br />impairing the security of this Deed of Trust, or giving notice to any person: (i) release any <br />person liable for payment of any Secured Obligation; (ii) extend the time for payment, or <br />otherwise alter the terms of payment, of any Secured Obligation; (iii) accept additional real or <br />personal property of any kind as security for any Secured Obligation, whether evidenced by <br />deeds of trust, mortgages, security agreements, or any other instruments of security; or (iv) <br />alter, substitute, or release any property securing the Secured Obligations. <br />Section 4.02. Substitution of Trustee. From time to time, Beneficiary may substitute a <br />successor to any Trustee named in or acting under this Deed of Trust by a written instrument <br />executed and acknowledged by Beneficiary and recorded in the office of the recorder of the <br />county where the Land and Improvements are situated. Any such instrument is conclusive proof <br />of the proper substitution of the successor Trustee, who will automatically upon recordation of <br />the instrument succeed to all estate, title, rights, powers, and duties of the predecessor Trustee. <br />Section 4.03. Acts of Trustee. When requested to do so by Beneficiary in writing, <br />Trustee may perform any of the following acts without incurring any liability or giving notice to <br />any person: (i) consent to the making of any plat or map of the Property or any part of it; (ii) join <br />in granting any easement or creating any restriction affecting the Property; or (iii) join in any <br />subordination or other agreement affecting this Deed of Trust or the lien of it. <br />Section 4.04. No Release. If either Beneficiary or Trustee performs any act that it is <br />empowered or authorized to perform under this Deed of Trust, including any act permitted by <br />Section 4.01, Section 4.02, or Section 4.03 above, that act alone does not release or change <br />the personal liability of any person for the payment and performance of the Secured Obligations <br />then outstanding, or the lien of this Deed of Trust on all or the remainder of the Property for full <br />payment and performance of all outstanding Secured Obligations. <br />Section 5.01. Compensation. Trustor agrees to: (a) pay the reasonable fees charged <br />by Beneficiary and Trustee for any services that Beneficiary or Trustee may render in <br />
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