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$g'"" 103097
<br />TO PROTECT THE SECURITY OF THIS TRUST DEED. TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS
<br />1 PAYMENT OF PRINCIPAL AND INTEREST. Truster shall promptly pay when due the principal of and interest on the Indebtedness
<br />evidenced by the Note. and all other charges and fees as provided In the Note. and the principal of and interest on any Future Advances secured
<br />by this Trust Deed
<br />2. WARRANTY OF TITLE. Trustor is lawfully seized and possessed of goodand indefeasible title andestate to the Property hereby conveyed
<br />and has the right to grant and convey the Property, the Property is free and clear of all liens and encumbrances except liens now of rocord: and
<br />Trustor will warrant and defend the title to the Property against all claims and demands
<br />3. MAINTENANCE AND COMPLIANCE WITH LAWS. Trustor shall keep the Property in good repair and condition and shall not commit waste
<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 hereafter erected upon the Property shall be altered• removed or demolished without the prior written consent of Beneficiary.
<br />Trustor shall 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 or restriction. Trustor shall
<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 oertnrmed and materials furnished therefor and for any alterations thereof.
<br />4. INSURANCE. Trustor. at Its expense. will maintain with insui urs approved by Beneficiary. Insurance with respect tothe improvements and
<br />personal property, constituting the Properly, against loss by fire, lightning, tornado, and other perils and hazards covered by standard extended
<br />coverage indgrsement. in an amount equal to at least one hundred percent 1100%) of the full replacement value thereof and Insurance against
<br />such other hazardsand insuch amounts as is customarily carded by ownersand operators of similar properties or as Beneficiary may require for
<br />its protection. Trustor will comply with such other requirements as Beneficiary may from time to time request for the protection by insurance of the
<br />interests of the respective parties. All Insurance policies maintained pursuant to this Trust Deed shall name Trustor and Beneficiary as Insured, as
<br />lhsir respective interests may appear, and provide that there be nocancellation or modification without at least 15 days prior written notification to
<br />Trustee and Beneficiary may procuresuch insurance in accordance with the provisions of paragraph 6 hereof. Trustor shall deliver to Beneficiary
<br />the original policies of insurance and renewals thereolor memo copies of such policies and renewals thereof Failure tofurmsh such insurance by
<br />Trustor, or renewals as required hereunder shall. at the option of Beneficiary, constitute a defirult
<br />5. TAXES, ASSESSMENTS AND CHARGES. Truster shall pay all taxes, assessments and Other charges, including, without limitation, fines
<br />and impositions attributable to the Property and leasertgfd payments or ground rents, if any, before the same become delinquent. Trustor shall
<br />promptly furnish to beneficiary all notices of amountsdvQtinder this paragraph, and in the event Trusto ► shall make payment directly, Trustor shall
<br />promptly futerish to Beneficiary receipts evidencing sut:h payments Trustor shall pay all tiixjts and assessments which may be levied upon
<br />Beneficiary's interest herein or upon this Trust Deed *:"tout regard to any law that may be enacted imposing payment of the whole or any part
<br />thereof upon the Beneficiary.
<br />1 6. ADDITIONAL LIENSAND PROTECTION OF BENEFICIARY'S SECURITY. Trustor shall make all payments of interest and principal and
<br />payments of any other charges, fees and expenses contracted to be paid to any existing or subsequent henhofder or beneficiary. under any
<br />existing or subsequent mortgage or tru$ J deed before the date they are delinqent or in default, and pro_ mptly pay and 4196 cha:►ge any and all other
<br />liens, claims or criarges which may )eopard -ire the security granted herein if Trustor farts to m�w�' any such paymentor hills to perform any of the
<br />covenants and agreements contained in this Trust Deed, or the Note referred to herein. or in any.0hor or subsequent trosb*ed, or if any action or
<br />proceeding is commenced which matefrally affects Ceftelti,tary's interest in the Property, inctudirlg. tut not. to, ;eiiiinent domain pfoceed•
<br />+rigs. proceedings involvinga decedent, notice of sate by Trustee, notice of default by Trustee. niIartgage.kirealesureec ;ion, or if Trustor fails to t
<br />pay Trustor 's,debts generally as they become due, then Beneficiary, at Beneficiary's option and - withoul notice to or.ilem" and upon Trustor and
<br />without reteasmgTrustor from any obligation hereunder, may make such appearances, disburse; such sums and take suco ection as Is necessary
<br />to protect 154,* Pcraty's. interest. including, but not limited to, 6strufsemerit of reasonable aitornay's fees. payment, purchase, contest or
<br />y compromise of any enciarbrance. charge or lien• entry upon the Property to makerepairs, or declaration of default under this Trust Deed.. to the
<br />event that Trustor shall fa:lio procure insurance or to pay taxes, assessments. trx anp:othei charges or to make any payments to any existing or
<br />subsequent henholdefs or existing or subsequent beneficiaries. Beneficiary may ;prdcut 0 such.gnsurance and make such payment, butshall not
<br />be obligated to do so. Any amounts disbursed by Beneficiary pursuant to this Paragraph 6 shall become additional indebtedness of Trustor
<br />secured by this Trust Deed Such amos:'sts -shalt be payable upon notice from Benef:ci 4.ry. to T(051or requesting payment Ifierbof, and shall bear
<br />interest from the date of disbursement of "tile rate pa)rXsle from time to time on outsta *ding principal under the Note unless payment of interest at
<br />such rate would be contrary to applicab:e law. In wM✓ i event such amounts shall bear interest at the highest rate permissible under applicable
<br />law. Nothing contained in this Paragraph 6 shall require Beneficiary to incur any expense or take any action hereunder.,
<br />7. ASSIGNMENT OF RENTS. 8enct'; Gtary shall have the right. power and authority during the continuance of this Trusa -peed to collect the
<br />rents. issuemand profits of the Property and of any personal property located thereon with or without taking possesslon.rrf the property affected
<br />hereby. and Trustor hereby absolutely and unconditionally assigns an such rents,, issues and profitsto Beneficiary. Beneficiary, however, hereby
<br />consents to the Trustor's collection and retention of such rents, issues and prottts as they accrue and become payable so long as Trustor is not, at -
<br />such time. In default with respect to payment of any indebtedness secured hereby; or In the performance of any agreement hereunder. Upon any
<br />such default, Beneficiary may at any tiin&, either In person. by agept, arby a recefverto be appointed by a court, without n(;ljce and without regard
<br />to the adequacy of any security for theiadebtedness hereby secured,f,a) enter upon and lake possession of the Property O'riiny part thereof, and rn
<br />its own name sue for or otherwise colr A.,Su chrents, issuesand , including those pastdueand unpaid. and apply me same. less costs and
<br />expenses of operation and collection. including reasonable attorneys fees. upon any - inde-�redness secured hereby, and in such order as
<br />Beneficiary may determine, (b) perform such acts of repair of protection as may'biwnecess!�rypr proper to conserve the value of the Property. tcl
<br />tease the same or any pa:fYlftereof for such renfal, lot tn. and upon such condihors,as its judgrl;,erft may dicta *6\,orterminate or adjust the term s and
<br />conditions of existing teases Unless Trustor and Beneficiary thereof agree otherwise in writing, any application of rents „issues or profits to any
<br />indebtedness secured hereby shall not extend or postpone the due date of :te installment payments as provided in.9aliY promissory note or
<br />change the amountof such mstaliments. The entering upon and taking possess)dn of the Property, the collection of such•rai ni,�. issues and profits.
<br />and the application thereof as aforesaid, shall not waive or cure any default or- rrGr.ce of default hereunder or invalidate an. r act done pursuant to
<br />such notice. Trustor also assigns to Beneficiary, as further security for the perfor'mance ofthe obligations secured hereby, all prepaid reiifsand all
<br />monies which may have been or mayll ex erafter be deposited with said Trustor by any lessee of the property. to secure the payment of any rent or
<br />damages, or upon default in the periolmaisce of any of the provisions hereof. Trustor agrees to deliver such rents and deposits to Beneficiary
<br />Deliver yofwrt tlennoticeofBeneflctary( �Sexerciseofthenghtsgrantedherein. toanytenantoccupyingsai dpremisesshallbesuf ficientforequire - _ - -__- - -_ said tenant to pay rent to the Beneficiary until further notice T
<br />S. CONDEMNATION. It title to any part of the Property shall be taken in condemnation proceedings. by right of eminent domain or similar
<br />action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to Benet.ciary
<br />who shall apply such awards, damages and proceeds to Ine sum secured by this Trust Deed. with the excess it any. paid to Trustor If Trustor t
<br />receives any notice or other information regarding such actions or proceedings. Trustor shalt ,give prompt written notice thereof to Benefictar y
<br />Beneficiary shall be entitled, at its option, to commence. appear m and prosecute in its own name any suers action or proceedings and shall be
<br />enhtied 10t maiie any compromise nr settlement in conntrct,on with any such action or proceedings
<br />9 FUTURE ADVANCES. Upon request of Trustor Beneficiary at Beneficiary s option. prior to recunveyance Lit tht) Pruiit,ir+, Ir. Ti;,51ui •ri,iy
<br />fnakefulureaAvancestoTtustor Such future advances w.th•nfetestinef con. Shall fie sec wed bvth,STr;,slDer!rlwr-t +n t,vidt -rn *,,Itir; •,.ni•csnt}
<br />nu!eu taabrtg that oaed notes are sP.c uriYl hotetiv pio-' rted that at no time shall the ",:tired pt ^t 'pa' iwd f..twi' arN,irrp5
<br />an,rar!cer# to protor f trio Seeur'fy erceert l+vrr 6411itlre4 vvfLerif ' ?00 %1 of Ito t,• 9 r,Ii pt
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