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<br /> � full, true and correct entriee ahal.l be promptly made as to all
<br /> operati.ona on the Praperty, and if, and ae often as , reasonably
<br /> requeated by Beneficiary, Grantar will make reporta of operations in
<br /> such form aa Beneficiary prescribea, aetting out full data as to the
<br /> revenuea fram the Property. Grantor will permit Beneficiary or its
<br /> representative to exami.ne within ttie city in which the Property ia
<br /> located all booka and recorda af Grantor pertaining to the Property.
<br /> 15. SubstituCe Performance. Should Grantor fail to make any
<br /> payment here n prov e , or o any act provided herein. or required
<br /> by any of the Loan Documents, then Beneficiary, without obligation
<br /> so to do and without any notice to or demand upon Grantor and
<br /> without releasing Grantor from any obligation hereof, may make or do
<br /> the same in such manner and to such extent as Ben�ficiary, in its
<br /> sole disetetion, may deem necessary to protect the aecurity hereof,
<br /> Beneficiary being authorized to enter upon the Property for such
<br /> purposea. All expenses or charges to which Beneficiary may be put
<br /> in connection with the care or preservation of the Property or any
<br /> part thereof at any time or the payment of any taxes, insurance
<br /> premiuma, encumbrances, or assessments levied upan or attaching to
<br /> the Property or any interest therein, or any cost of redemption
<br /> thereon, or any suma of money, charges, expenses, or fees which
<br /> Beneficia�y may pay pu�suant to any pro�rision he�eof, shgll be added : ` -
<br /> to the indebtedness secured by this Deed of Trust, shall be payable ,
<br /> by Grantor on demand, and shall bear interest from date of advance � �
<br /> until paid at the Default Rate specified in the Note. � �
<br /> 16. Events of Default; Acceleration. The term "default" or `���`�-
<br /> "event o e au as use n t s ee of Trust shall mean the �
<br /> occurrence of any of the following events: �
<br /> (a) the failure of Grantor to make punctual payment of ' ��=_
<br /> principal, interest or any other sums due pursuant to the Note or ` '-
<br /> any Loan Documents; �
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<br /> (b) the failure or refusal of Grantor to pay, before
<br /> delinquency, any taxes, assessments, fees, charges, expenaes or �
<br /> encumbrances created, existing, levied, or assessed upon or relating { .._
<br /> to the Property, or if liens shall be filed against the Property � ��
<br /> which shall note be released, stayed, bonded, or insured against in
<br /> favor of Beneficiary, satisfied or vacated within thirty (30) days •
<br /> after entry or filing.
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<br /> (c) the £ailure of Grantor to ti�nely and properly observe, �
<br /> keep or perform any non-monetary term, covenant, condition, �
<br /> agreement, or obligat�.ons required to be reaerved, kept or performed
<br /> herein or in any of the other Loan Documents ;
<br /> (d) any representation or warranty contained herein or in
<br /> any other Loan Documents or otherwise made by Grantor or any
<br /> partners or owners of Grantor to Beneficiary in connection with the
<br /> Loan evidenced by the Note shall be false or misleading in any
<br /> material respect;
<br /> 16
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