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<br />90- -305525
<br />notification to Trustee and Beneficiary. In the event any policy hereunder is not renewed on or before fifteen (15) days prior to
<br />Its expiration date, Trustee or Beneficiary may procure such insurance in accordance with the provisions of Paragraph 7.
<br />•� Truster shall deliver to Beneficiary the original policies of Insurance and renewals thereof or copies M such policies and
<br />renewals thereof. Failure to furnish such insurance by Truster, or renewals as required hereunder, shall. at the option of
<br />Beneficiary, constitute a defualt. All unearned premiums are hereby assigned to Trsutee as additional security. and a sate and
<br />conveyaltclit pf trtgProperty by the Trustee shall operate to convey to the purchaser the Truster's Interest in and to all policies
<br />of Insurance upon tjj�le Trust Property.
<br />5. Taxes and Assessments. Trustor shall pay all taxes and special assessments levied or assessed against. ar due upon, the
<br />Property before delinquency and will deliver to Beneficiary copies of receipts showing payment of such taxes and special
<br />assessments.
<br />6. Additional Lions, Trustor shall make all payments of interest and principal, and payments of any other charges, fees, aino
<br />expenses contracted to be paid to any existing Ilan holders or prior beneficiaries under any prior Deed of Trust.. Mortgage z is
<br />other security agreement, before the date they are delinquent and to pay any other claim which jeopardises 11te security
<br />granted herein.
<br />7. Protection of Beneficiary's Security. Should Trustor fall to make any payment, fall to do any act as herein provided or If
<br />any action or proceeding is commenced which materially affects Beneficiary's interest in the Property. Including, but not
<br />limited to, eminent domain, Insolvency, arrangements or proceedings Involving a bankrupt or decedent, then Beneficiary or
<br />Trustee, but without obligation to do so, and without notice to or demand upon Trustor, and without releasing Trustor from any
<br />Obligation hereunder, may make or do the same, and may pay, purchase, contest or compromise any encumbrance, charge or
<br />lien, which in the judgment of either appears to affect said Properly; In exercising any such powers, the Beneflclary or Trustee
<br />may Incur a liability and expend whatever amounts„ Including disbursements of reasonable attorney's fees, which In their ab-
<br />-�� solute discretion may be necessary. In the event that Trustor shall fall to procure Insurance, fall to pay taxes and special
<br />assessments or fall to make any payments to exlaling or prior lien holders or beneficiaries, the Beneficiary may procure such
<br />Insurance and make such payments. All sums incurred or expended by Beneficiary or Trustee in accordance with the provi•
<br />sons of the Deed of Trust are secured hereby and, without demand, shall be immediately due and payable by Trustor and shall
<br />bear Interest at the rate provided for advances under the Loan Agreement; provided, however, that at the option of the
<br />Beneficiary or Trustee, such sums may be added to the principal balance of any Indebtedness secured hereby and shall bear
<br />the same Interest as such indebtedness and shall be payable ratably over the remaining form thereof.
<br />B. Assignment of Rents. Beneficiary shall have the right. power and authority during the continuance of this DNS of Trust to
<br />collect the rents, Issues and profits of the Property and of any personal property located thereon with or without taking
<br />possession of the Property affected hereby, and Trustor hereby absolutely and unconditionally assigns all such rents. Issues
<br />and profits to Beneficiary. Beneficiary, however. hereby consents to the Truster's collection and retention of such rents,
<br />Issues and profits as they accrue and become payable so long as Trustor rs not, at such time, in default with respect to pay-
<br />ment of any indebtedness secured hereby or in the performance of any agreement hereunder Upon any such default,
<br />Beneficiary may at any time, either In person, by agent or by a receiver to be appointed by a court, without notice and without
<br />regard to the adequacy of any security for the indebtedness hereby secured (a) enter upon and take possession of the Proper•
<br />ty or any part thereof and in its own name sue for of otherwise collect such rents. Issues and profits, including those past due
<br />and unpaid, and apply the same, less costs and expenses of operation and collection, Including reasonable attorney fees,
<br />upon any Indebtedness secured hereby and In such order as Beneficiary may determine; (b) perform such acts of repair or pro-
<br />tection as -ay be necessary or proper to conserve the value of the Property: (c) lease the same or any part hereof for such ren-
<br />tal term and upon such crinditlons as Its judgment may dictate Unions T►usinr and Beneflr tat y agree other wine In writing, any
<br />application of rents, issues or profits to any Indebtedness secured hereby shall not extend or postpone the due date of the In•
<br />stallment payments as provided In the Loan Agreement, and the application thereof as aforesaid shall not waive or cure any
<br />default or notice of default hereunder or Invalidate any act done pursuant to such notice. Trustor also assigns to Beneficiary,
<br />as further security for the performance of the obligations secured hereby. all prepaid rents and all monies which may have
<br />been or may hereafter be deposited with said Trustor by any lessee of the Property, to (secure the payment of any rent, and
<br />up,)n default In the performmnce of any of the provisions hereof, Trusto, agrees to deliver such rents and deposits to the
<br />Beneficiary. pesivery of wrillen notice of Benelficary's exercise of the rights granted herein to any tenant occupying sold
<br />premises shalt :roe sufficient to •squve said tenant to pay said rent to the Beneficiary until further notice
<br />9 Condemnation. If Mce Vanf of the Property shall be taken in condemnation proceedings, by right of wminent domain
<br />n��ls or similar action, or ehalh be said under threat of condemnation, all awards, damages and proceeds are hereby assigned and
<br />— ;shall be paid to Beneficiary who shalt apply such award, damages and proceeds to the sums secured by the Deed of Trust,
<br />with the excess. If any, paid to the Tr"stor
<br />10 Future Advances. The Loan Agreement provides for advances from time to time to Trustor by Beneflclary as provided
<br />therein. In addition, upon request of Trualor• Beneficiary. at Beneficiary s option, prior to reconveyance of the Property to the
<br />Trustor, may make additional future advances to the Trustor Such future advances. with interest thereon, shall he secured by
<br />this Deed of Trust when evidenced by promissory notes stating that said notes are secured hereby. provided that at no time
<br />shall the secured principal and future advances, not Including sums advanced to protect the security. exceed one hurlered per.
<br />cent (100 %1, ro ,Me original principal amounts secured hereby
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<br />'I. Rh1NKMi Ali 1g11.eijtr7s Vr(,r -VRfU iii 11111 lJ.'tl,i t.i irnYl .ur tiiOl rill i mni t.0 tiit/iitlir er its riiir ,ij ivi iiNiii ivi
<br />rttmedy under this Deed 0 "'.igt or aflowed by taA hr fl(ju,ly Anil "tali he evo,ri %pil rnncurrently uttleprindenlly r,r SuCC(±sS,vp
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<br />12 Acceleration; Remedies; Safe. A cefauit shall exist t• t. •t. event a'
<br />IA) Any fraud or miarep►esentatiun *V -the Trustut in i VnneKN ", . Nrth'rt hrie 0 : reolI w''riGh this DeQO Cr 1i rus'
<br />_ (B) Any failure on the Wart of the Trusvcr to caterer. 1 ^e repayment forms +f rPSt Ce I Me Scar^ AgrPornenn ane a'nv.otfte• ad
<br />-fences under this Deed of Trust hereby sec.uvew and.
<br />101 Any action by the Tiubtor prohibited by the fdrm-s of the Laart AQf#w1rieW • Iris I; oo,* ` ,; y° tr d ^v 'a ri.•v u' 1''e l'u",
<br />to act as required by the Lt.er. A ;•eement o► tl�ls Deed rS' •ate^ N ►',C.h T ' herplq egff'"s t'a.p 111 adverdip ri
<br />fact on the Beneficiary s security for the',ne ::f credit estab -shed ana Tve rights of the bents( %iary ,n tivCh set4tify
<br />and upon the happening of any such event of 10ault. Beneficiary rtna I 't1mt: •u'-+ all sums Silt uted hnrnhy lmrtte01311e1y dun Ant;
<br />payable by delivery to Trustee of written declaratten cif default The Trustee -that i have the Vr)Wer of sAla lit the Ping Iel IV anti if
<br />Beneficiary desirns the ProportV to be -.old it shalt d('poslt with T►uSW, th.c npt•d , r must amt .iii miles Anil
<br />doctinient% eviltericintl expenditUrpl, S(llilted heretil Anil %hdli ,leliYei t•. Tr,,.,1•'i' .1 Nt•ttt'r1 rrr'1ir v -.t li•1:1,1'1 ,eel i•ir•, tit •n fi•
<br />l -ause the Prr,I,Prty to be Sold. and the Trustee in turn shall ufeltHto a not„ n ,n ins h,rrn rp(lillipd ht III% Nhwh •,hilli tie r11ilV r,l
<br />oct far tptxud by Trust(►e
<br />(A) After the lapse of such lime as may be requited tiv law followriw lho ••. ••r•Ldn'n t•r ••'1'•1 •t •11, t• t'l .U,I,u,1' '.,r,t; •,. i„ ,• ,
<br />t ottlaull And notice of saiehavinU boon given as letiur'ed hi laY► Ir11'.tee. Nitnt•ut derirAr'd 1,t• t,u'J, r .t. 1r „' i '” {,r•r
<br />- - - - -• tr im Iht+ little Will dl the tlrtie and (,lace designated ,n tiuid r•t,:ii 1, 1-1 •,11v• .11 1 nt " ,stir '„ t•. t' '• ytri' •1 ' '•1 , ' `r•, t
<br />r -halls price payi►bto in Ia* fit I nit moV of the tln,lpd hIH1Vh dt rill, 1 rtte ..1 ',,,I,, the (.rl,,. n „n,l', I r'ii 1'11• ..tic •r .,. i ,
<br />I i►uwe hit poslpuno the quip liulri time 1,r Irmo .111111 it ,,hill, t•,• unil.y,l11•1 ,/ ",t 1 .• t. i'
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