Laserfiche WebLink
200007611 <br />(c) The remainder, if any, to the person or persons legally entitled <br />thereto. <br />D. Upon the occurrence of any default hereunder, Beneficiary shall have the <br />option to foreclose this Trust Deed in the manner provided by law for the foreclosure of <br />mortgages on real estate. <br />E. Beneficiary may from time to time substitute a successor or successors to <br />any Trustee named herein or acting hereunder. Upon such appointment and without <br />reconveyance to the successor Trustee, the latter shall be vested with all title, powers and <br />duties conferred upon any Trustee herein named or acting hereunder. Each such <br />appointment and substitution shall be made by written instrument and executed by <br />Beneficiary, containing reference to this Trust Deed and its place of record, which, when <br />recorded in the office of the Register of Deeds of the county or counties in which said <br />property is situated, shall be conclusive proof of proper appointment of the successor <br />Trustee. The foregoing power of substitution and the procedure thereof shall not be <br />exclusive of the power and procedure provided for by law for the substitution of a Trustee <br />in the place of the Trustee named herein. <br />F. Trustor covenants and agrees that upon any conveyance, assignment or <br />transfer of their interest in the premises during the term of the Trust Deed Promissory <br />Note secured hereby without the written permission of the said Beneficiary, the <br />Beneficiary shall have the option of declaring the unpaid balance immediately due and <br />payable, and if said sum remains unpaid for fifteen days thereafter, Beneficiary can cause <br />Notice of Default to be given and the premises be sold as provided herein. <br />G. As additional and collateral security for the Trust Deed Promissory Note <br />and effective forthwith upon filing of a Notice of Default, this instrument shall serve as an <br />assignment by the Trustor to the Trustee, of all rents and revenues resulting from the <br />property and Trustee is authorized to take possession of the property, rent or lease the <br />same on terms he deems best and to collect the rents and revenues and apply the same <br />upon unpaid interest, principal, taxes or insurance premiums or for maintenance and <br />preservation of the premises. <br />H. Beneficiary is hereby assigned all compensation, awards, damages and <br />other payments or relief (hereinafter "Proceeds ") in connection with condemnation or <br />other taking of the Property or part thereof, or for conveyance in lieu of condemnation. <br />Beneficiary shall be entitled at its option to commence, appear in and prosecute in its own <br />name any action or proceedings, and shall also be entitled to make any compromise or <br />settlement in connection with such taking or damage. In the event any portion of the <br />Property is so taken or damaged, Beneficiary shall have the option, in its sole and absolute <br />discretion, to apply all such Proceeds, after deducting therefrom all costs and expenses <br />incurred by it in connection with such proceeds, upon any indebtedness secured hereby <br />and in such order as Beneficiary may determine or to apply all such Proceeds, after <br />deductions, to the restoration of the Property upon such conditions as Beneficiary may <br />5 <br />