|
89 i W - - -
<br />TO PROTECT THE SECURITY OF THIS TRUST DEED, TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS
<br />t. PAYW£NT OF PRINCIPAL AND INTEREST. Trustor shall promptly pay when due the pnrlcipaLot and interest on the indebtedness
<br />evidencedbn the Note, and all other charges and fees as provided in the Note, and the principal a! and Interest on any Future Advances secured
<br />by this Trriat Ned.
<br />2. WARRANTY OF TITLE. Trustor is lawfully seized and possessed of good and indefeasible tttle and estate to the Property hereby conveyed
<br />and has the right to grant and convey the Property. tha Property is tree and hear of aif liens and encumbrances except liens now of record, and
<br />Trustor will wer•ant and defend the title to the Property against all claims and demands .
<br />3. WAIKIENAKCE AMC-COMPLIANCE WITH LAWS. Trustor strait keep the Property in good repair and condition and shall not comm if waste
<br />or permit impair>frnnt.or. deterioration of the Property and shall comply with the provisions of any lease if this Trust Deed is on a leasehold. No
<br />improvement now or,.. hereafter erected upon the Property shall be altered, removed or demolished without the prior written consent of Beneficiary
<br />Trustorsholl comply with all laws, ordinances, regulations, covenants. conditions and restrictions affecting the Property and not commit, suffer or
<br />permit any: act to be done in or upon the Property in violation of any law. ordinance, regulation, covenant, condition at. restriction Trustor shall
<br />cemplef.e or restore promptly and in good workmanlike manner any improvement on the Property which may be damaged or destroyed and pay.
<br />when•due, all claims for labor performed and materials furnished therefor and for any alterations thereof
<br />4. iNS3111RANCE. Trustor, at its expense. will maintain with insurers approved by Beneficiary, insurance with respect to the improyements and'
<br />personal p '.gems, cons luting the Frcta ed)} -. a_air s! Toss by If lightning, tornado, and other perils and hazards covered by standardextended
<br />covera;e ice zstone hundred percent : *,30 %) of the full replacement value thereof and Insurance against
<br />sucieaf4-er"aznCSerdmsucha^ rein
<br />-as isc�stomanly carried by owners and operators ofsimilar properties oras Beneficiary madie -xuirpler
<br />:.: 1!s prcte rf lira Tr4sFor will comply with such other requirements as Beneficiary may from trme10time request for the protection by msurancecf the
<br />interests Witte eti` :veparties. All insurance policies maintained pursuartta this Trust Deed shall nameTrustor and Beneficiary as lnsured..as-
<br />i' their respective inter , tsmayappear, andpro.: c; eetraltherebenocancenat, onarmodifi cationwithoutat'. eastISdayspriorwrittenniriificationto
<br />Trustee and Beneficpr y. may procure such insurance in accordance with the p :., i;:sions of paragraph 6 hereof Trustor shall deliver Ilil3iineficiary
<br />�--� ---- the original policies a.' insurance and renewfalsthereefnr memo copies of such e•? tresar.0r ?newalsthereof Failurptoftrm ichsttrh :nsurancebv
<br />Trustor, or renewals as required hereunder shall at the option of Beneficial— constitute a default
<br />5. TAXES. ASSESSMENTS AND CHARGES. Trustor shall pay all taxes. assessmems and other charges, including, without limitation, fines
<br />and impositions attr-bul;3ble to the Property and Leasehold payments or graJc W rents, if any, before the same become delinquent. Trustor shall
<br />prompttyfurnishtoGE:r,,a' eiaryal! noti: esofamounlsdueunderthisparagr ,ph,ar.3intheeventTrustor shall make payment directly .Trustor shall
<br />promptly furnish to 5ereficiary receipts evidencing such payments Trus:zr shall pay a:i taxes and assessments which may be levied upon- .
<br />Beneficiary's mtera - therein or apon this Trust Deed without -egard to any law that may be enacted imposing payment of the whole or any part
<br />thereof upon the
<br />6. ADDITIONAL DENS AND PROTECTION OF BENEFICIARY'S SZC. fTfTY, Trustor shall make all payments of interest and principal and
<br />payments of any Whe, charges. fees and expenses contracted to be pai n any existing or subsequent penholder or beneficiary• under any
<br />existing or subsequent mortgage or trust deed before the date they are delmgent or in default. and promptly pay and discharge aril• alid all other
<br />liens, cla :.rrlsor charges which may jeopardize the security granted herein. It Trustor fails to make any such payment or-fails to r,erfn,,.'n any of the
<br />covenants a•. zagreements contained in this TrustDeed,ortheNws raterredto herein. or in any prioror subsequent trusideed,oi-if a-lyaction of
<br />proceed,ra,, s :orim9riced which materially affects Beneficiary's interest in she Property, including. but not limited to, eminent delis n proceed-
<br />ings, a decedent. notice of sateby Trustee. notice c l :?ifault by Trustee. mortgage foreclosure action, or •f Tri stor falls to
<br />pay Truster c fie;, ^5 'gonerally as they become due. then Benefr -vary, at Bd.. _(tciary's option and without notice to or demand upon TTrustor and
<br />without releas, n3T', v5i yr from an yobligation hereunder, may rrakesuchappea :-ances..d,Elbursesuch sumsandtakesuchactiona :: ^tacessary
<br />to protec4,RDiefi-, &iiF s interevi, ;n;,rucfing. but not limited tm disbursement of reascnaofe attorneys fees. payment, purchait:•. run(est or
<br />comprom Tae o 'an w ; -,. ;� nbrance. cnarge or hen, entry upon the Property fa rake repairs, or declaration of default under this Tr:r.;l flee=s in the
<br />event that Trs ;. s'':; ,ail to procure insurance or to pay taxes, assessr-r r':- or any other charges or to make any payments to any' ex.sting or
<br />subsequent t s- -r;'e.E1;: or existing or subsequen! beneficiaries. Benefic :;:-' °i 'Tay procure such insurance and make such payment, bill shall not
<br />be obhga'sd ': :ia s: Any amounts disbursed b f Beneficiary pursuant-.(; -' -�.s Paragraph 6 shall become additional indebtedr.e•s of Trustor
<br />secured bri rr..:; Trust Deed Such amounts shall be payable upon notice from Beneficiary to Trustor requesting pay meet thereof. and shall bear
<br />interest!•. Wi t'` adate of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest at
<br />such rate would be contrary to ap:;'n :able law. -n w'tich event such amounts shall bear interest at the highest rate permissible under applicable
<br />law. Nothing contain Q,-� ,n this Paragrapn 6 sh2' i r QQulre Beneficiary to irc.Ji =:,y expense or take any action hereunder
<br />7. ASSIGNMENT Or RENTS. :nefictary shah have the right. power ar,L,,•hertty ;!:,ring the Cont. nuance of this Trust Det vo coirect the
<br />rents, issues and profits of the Pr,L'I;tE ty and of any personal property located `; - F. E,r, ill; rr, cv wit`''_ .± taking possession of the property affccteo
<br />hereby, and Trustor hereby abscl s',, and unconditionally assigns all such ter,-- is ? s a—;prof lsto Beneficiary Beneficiary. however. hereby
<br />consents to the Trustor's collection and retention of such rents. issues and a ; as Mey accrue and become payable so long as Ti uc *or is not. at
<br />such time, in default with respect to payment of any indebtedness secured r(, . :icy, or in the performance of any agreement here t, nder Upon any
<br />such default Beneficiary may at any limo, either In person. by agent. or by a rr : %- iver to be appointed by a court without notice ans.;ahout regard
<br />to the adequacy of any security for the indebtedness hereby secured. (a I enter apon and take possession of the Property )r any part thereof. and in
<br />Itsoirm name sue for or otherwise collect such tents. issues and profits including those Past due and unpaid, and apl;!; the same, lesscostsand
<br />expenses of operation and collection. including reasonable attorney s fees upon any indebtedness secured hefcby and ,n such order as
<br />Bar. e`•:;. ary may determine, lbl performsuchactsotrepairorprotectionasrr .a;i benecessaryorproper! oconserve the vahieo lmeProperty•Icl
<br />lease the same o , any pail thereof for such renfal ,term and upon such cc as its judgment may dirt ale. orlern 'in ale ci ac) us!llrs' terms and
<br />condi!:or.s of existing leases Unless Truslal -.v-4 Beneficiary thereof ag: ei; Gtr'^.5'rwi5e in writing. any al; ;Aication of rerrs rs, J -s tlr pl ofits to any
<br />trdec ?tt;.r ass secured hereby sl*.-m,ii, t extec f Or postpone the due data �,f -he ,r,sta'Inle it payments as providers al :a,a ro ^;,s;•, ry note or
<br />C hang tit the amount of such insla:.irer.ls The entering upon andtak'ng possess G''• 0! ll•s Pfoperty, the collection of sucAI eam issues and probs.
<br />and tre- ap– !ication thereof as af,,se; did, shall not waive or cure any default or notice of default hereunder of +tivabdaw -3my act (fore pursuant to
<br />Such nolt,.e. Trustorr „io assigns to Beneficiary, as further sec only for the performaneeof the obhgationssecured hereby. all prnpadtents and all
<br />monies which may hive been or may hereafter be deposited yelp said Tr istOr by any lessee of the Property. Insecure the pay ment of . my rural yr
<br />damages. or ;pon def&.31t in the performance of any of the provisions hereof Trustor agrees to deltvet such rents and deposits to Ben(.fhri.,, y
<br />Delivery o!'firitten notice of Beneficiary S exercise of the rights granted h•arein. to any tenant occupying said premises ,hill bo sutbr't'nt Iv - (v1aW (:
<br />said tenant to pay rent to the Beneficiary until further notice
<br />0 CONDEMNATION. It title to any part of the Property shall be taken in condemnation p,oceedntgs. by right of f- rnownt dorl.,nr rat r.
<br />action, or shall be sold under throat of condemnation all awards.. damages and proceeds are t4eret.y assigned atict s +stir lit' it -i'ct to Rrr :iii ( ,,,,
<br />Who sh,311 apply such awards, damages and proceeds to the sum secured by this Trust Deed v,!r: It'o excess if any ;,:1 1 if, tf,l,,tt:r II ” <'r•, ;t,,
<br />r°L•etS't9 ally C;J!1 pt other. nlCr mat; CRSE yaiG( thg3uChvCt :vr.5vrpr6G6cd'nyy,ifuslvr�ir, lily. ve pro -rrptwrrf ter, nntrrrtrin— ntl-iri::nntct.rr.
<br />8ennttC1a1' y shall be entitled at its option to commence appear in and prosecutes its om, naive .rray ;,Jrh arP()n •,, ^.( ^ :.} rata, .,,',1 •.' I ' r
<br />entified 11, Make any ce'trprun'i3u ur settlement ill conneclrorl with any Su(:h action Of pr <ltxtetbnq�.
<br />L9 FUTURE ADVANCES. UVoti request of Trustor 4enefifaar f at 13er(4lciaf if , ool,pn pier l'.. . •,n,,yant.e of In(- r` :„••'r '
<br />errakt ;fuhti?�adrarlcest4Tru5lOt `,urttfutu- *eadvancrt with nr4 ?reslfrutreu :' lid' beSt•: t).4 t, ,`•'l4 ^ „rt rr i'nr•,••h'i J;
<br />ni,t+•s r•tAI,ny Ihat sa,d r. uvt s are +'(.0 If! ti 1,eteby I, rt,vid(•ret 1h:41 ill he 1,rttC Spa Iht. ,(•t ;Jr(•(!
<br />•ldnln(:Bd 10 pr(,tect t„(• <,er.urai f-il 1&0 hunrircil pot "ent 1;0() . i of the i : hn,4t n, }'c'u'll :m,, , , ..rt) , .••t .
<br />�1
<br />a-
<br />��y,�rf,'�
<br />i
<br />s �r
<br />L�
<br />
|