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89--102570
<br />TO PROTECT THE- SECURITY OF THIS TRUST DEED. TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS:
<br />t, PAYMENT OF PRINCIPAL AND INTEREST. Trustor shall promptly pay when due the princyar. of and Interest o, . the indebtedness
<br />evidenced by the Note. and all other charges and fees as provided in the Note, andth�. principal of ar -store d on any Future Advancf s secured
<br />by this Trust Deed.
<br />2 WARRANTY OF TITLE. Truiitor is lawfully seized and possessed of good and indefeasible title and estate to the Property hereb-r conveyed
<br />and has the right to grant and convey the Property: the Property is free and clear of all bens and encumbractces except. liens now of, ecord. and
<br />Trustor will warrant and defend 1`�e title to the Property against all claims and demands.
<br />3 MAINTENANCE AND COMPLIANCE WITH LAWS. Trustor shall keep the Property in good repairat•. d condition and shall not cunimrtwaste
<br />or permit impairment or deterioration of the Property and shall comply with the provisions of any lease it this Trust Deed is on a leasehold No
<br />improvement now or nereafter erected upon the Property shall be altered, removed or demolished without the prior written Consent of aenelictary
<br />Trustor shall oomph with all laws, ordinances. regulations. covenants. conditions and restrictions alfecting the Property and not Commit. suffer of
<br />permit any act to be done in or upon the P: operty in violation of any law, ordinance, regulation. covenant, condition or restriction Trustor Shan
<br />complete 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 thereior and for any al!erations !hereof-
<br />4 INSURANGE. Truster. at its expense. willmamta, nwith, nsurorsapprovedbyBeneflcrary,; nsurancewithrespecticthe ,mprovemenisand
<br />personal property, constituting the Property, against lass by fire, fi9htnw9, tornado, and other petits and hazards coveree' by standard extended
<br />co. eraye indorsement. n an amount equal to at fa st one hwidred percent 1100%) of the full replacement value thereof and insurance against
<br />su, h other hazards and m such amounts as is customarily carried by owners and operators of similar properties or as Beneficiary may require for
<br />i1s protection. Trustor will comply with s.uCh other requ •ements as Beneficiary may from time W time request for the protection Dy insurance of !he
<br />interests of the respective Dartnes. All insurance pooch s maintained pursuaattothis Trust Deed shall name Trustor and Beneficiary as insured. as
<br />theirrespectiveinterestsmayappear, andprovidetha. therebenocancellationormoddreationwithoutatleast15dayspr iorwritten io:71icaronto
<br />Trustee and Beneficiary mayprocure such insurance n accordance with the provisions of paragraph 6 hereol Trustor shall deliver to Beneficiary
<br />the or gtnal policies G, insurance and renewals therec or memo Copies of such policies and renewals thereof. Failure to furnish such insurance by
<br />Trustor. or renew, °Is as re ,uirE'd hereunder shall. at the option of Beneficiary, constitute a default.
<br />5 TAXES, ASSESS:AENTS AND CHARGES. Trustor shao pay all taxes, assessments and other charges. including. without hrirtallon, lilies
<br />and nnposil ;onS atlr buloble to the Property and leasehold payments or ground rents, it any. before the samv become delinquent Trustor shall
<br />promptly furnish to beoe't: aiy ail 110!!ces of amounts due under this paragraph, and,nthe event Trustor shall make payment d,recily. Trustor shall
<br />promptly furnish to Beneficiary receipts evidencing such payments. Trustor shalt pay all taxes and assessments which may be levied upon
<br />Beneficiary s interest herein or upon this Trust Deed w,lhoui regard to any law that may be erac!ed imposing payment ci the who.e or any part
<br />:hereof upon we SenehUary
<br />6 ADDITIONAL LIENS AND PROTECTION OF BENEFICIARY'S SECURITY. Trustor shaft make all payments of :merest and principal and
<br />payments of any Other charges. fees and expenses crntrarted to be pa,d to any existing or subsequent fier.holder cr beneliclar r. under any
<br />existing or subsequent mortgage or trust creed before the dale they are dehnrent Orin default. and promptly pay and discharge any and aJ Other
<br />hens, claims or charges which may loop. ,dize.the security ^,ranted herein. 11 Trustor tails to make any such payment or fails to perform any of the
<br />covenants and agreements contained ir, tats Trus: Deed. or the Note referred :o herein, or in any prior or subsequent trust deed, or if any act.0 i or
<br />proceeding is commenced which mate: a ;y affects Benefrc :airy s interest in the Property, including. bull not limited :o, eminent doma n proceed -
<br />ings. proceedings a ;volving a. decedc -,I, notice of saicby Trustee, notice of default by Trustee. mortgage foreclosure action, o. it Trustor far s to
<br />pay Truslor s debts generally as the'r become due, then Be.iefictary, at Beneficiary s option and without notice to or demand upon Tnis :or z
<br />without releas i ng Trustor irom any obligation hereunder, may make such appearances, disburse such sums aitd take such action as IS necessary
<br />to protect Beneficiary's interest, mciuding, but not limited to. disbursement rig reasonable attorney's fees, payment, purchase. :Ontesl or
<br />compromise of any encumbrance, charge or lien. ertry up ,3n the Property to make repairs, or declaration o1 default under this Trust Dried In :he
<br />event that Trustor shall fail to procure insurance or to pay taxes. assessments. or any other charges or to make any payments W any existing or
<br />subsequen! henholders or existing or subsequent bevel caries, Beneficiary may procure such insurance and make such payment. but Shan not
<br />ce obi gated to d0 so Any amounts disbursed by Ber,e' c ary pursuant to this Paragraph 6 shalt become additional indebtedness of Truster
<br />secured by this Trust Deed. Such amounts shall be payable upon notice from BenefiC,ary to Trustor regcestrng payment thereof. and shall bear
<br />interest from the dale of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of in Crest at
<br />sucri rate wou ! `e contrary to apphcab!e law. ;n which event such amounts shat bear interest at the highest rate permissible under app: :cabie
<br />law Nothinq cnr.'-..,ed in th;s Paragrapn 6 shall requi a Beneficiary to incur any expense or take any rcbon hereunder
<br />7 ASSIGNMENT OF RENTS. Beneficiary Shall have the right, power and authority during the corlinuance Of this Trust Deed to cuh,ct the
<br />rents. issues and piolits of the Proper'; and of any pE- fSonal property located thereon with or without taking possession of the property athlckh"
<br />hereby. and Tiuswr hereby absolutely ind unconditionally assigns all such rents.,ssues and profits to Beneficiary Beneficiary. however. hereby
<br />consents to the Trustor s collection and retention Ol such rents, issuers and profits as they accrue and become payable so long as Trustor :s n,+t. at
<br />such hm0, in default with respect to pay rnent of any,nJebtedness secured hereby. or in the performance of any agreement hereuride; UDC ; any
<br />such del3un. Benefci ary may at any lime.. 0-1 -her in person, by agent. or by a receiver to be appointed by a court, without nonce and .nihout r; ,and
<br />to the adequacy of a.ny security for the incebiedness hereby secured. (a) enter upon and take possession of the Properly c any part thereof. and m
<br />its own name sue for or otherwise collect such remb.,ssues and profits, including those past due And unpaid. and apply ;tie same. less costs and
<br />expenses of operation and collection, including reasonable attorney s fees, upon any indebtedness -secured hereby, and in such orw r a;•
<br />Beneficiary may delermmF; tbl perform such acts of repair or protection as may be necessary or proper to conserve the va,Ue of the Propelly. tin! i
<br />lease the same or any par! thereof for such rental, term, and upon such conditions aS its fudgrnent may dreta!e, or terminal-: Or adjust the term :. and
<br />conditions of ex;sbng lea!,es Unless Trustor and Beneficiary thereof agree otherwise u; writing, any appiica: on of rents. issi,es or profits t any
<br />indebtedness secured hereby shall not extend or postpone the due date of the installment payments as provided in sago promissory nc to cr
<br />change the amount of such installments The entering upon and taking possession of the Property, the collec' ion of such rent;.. issues and P, )!as.
<br />and the application thereof as aforesaid. shall not waive or cure any default or notice of aelault fereunder Onnvandale any act Cone purse nt !o
<br />such notice Trustor also assigns to Beneficiary, as further security for the performance of :he obligations secured hereby, ah pr,, paid rims ano al!
<br />monies which may have been or may hereafter be deposited wi h said Trustor by any lessee of the Pruperly..!o secure the payment of any rent or
<br />;lamageS, or upon default in the perfo mdree of ar.y of the ptu� sons hereof, Truslur a,.)rees to deliver such recd "nd de DS,IS to Benef oar y
<br />Del veiny of wMlen nonce of Beneficiary s exercise of the rights g anted herein, to any tenacl occupying said premises shat! be s ,fhc,ent to requ,rc
<br />Said levant :0 pay rent to the Bene!ic :ary until further notice.
<br />6 CONDEMNATION. It mlo !c any part of th,, Property shall be taken in condernnalioo p. L zeed,ngs, by r;grr, u' eminent do;i,aw ur
<br />action, or shall be sold under t ireal of c )ndemnauon, all awards, damages and proceeds are hereby assigned and shalt be paid to Benef cart'
<br />,,ho shall apply such awards, damages and proceeds to the suit., si�cured by this Trust Deed. with the excess. if any. paid to Truslur II TiLs!, ;r
<br />receives any notice or other in'Drmation regarcfint) such act-oils or proceedings. Trustor shat g -ve prom.;-;l written rolice !he-to! to Benel.c ;i'ti
<br />Beneficiary shall be ^nlitled. at is o-, °ion, to comr;ence, appear in -snit prosecu :r; in its own name any such acliun of Prue `,id -gs and sti,,a h.'
<br />entitled to make any rornpic nr e or settlerien! in connection with any such action or proceedings
<br />9 FUTURE ADVANCES. Upfin request of Trustor. Beneficiary at Beneficiary s opton, prior to rocu 'vevance of the P rope; ty lu :: uslur ni,ty
<br />make future advances !® Ti ustor Such future advances. with,nteresi ther eon. shall be secured by this T; .ist l oed when r.v:denced by ;,rom suit'
<br />ioles slating that said notes are secured hereby, provided that at nu time shall the secured principal arc iut; ;r0 advances, not incluC,ng Sums
<br />.tdvanced to protect the security, e>;ceed two hundred percent (203',.) of the original principal amoun ; sn: uref' hereby
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