|
tQ.3719
<br />( d ) Trustor Aff have procured, permitted or suffered, voluntarily or involuntarily, any creditor to obtain a lien not
<br />permitted herein, up or part of such property; Trustor or Any guarantor of the indebtedness secured hereby shall
<br />become insolvent cif admit in writing its Inability to pay its debts as they mature, or make an assignment for the benefit of
<br />creditors or apply for or consent to this appointment of a receiver or trustee for N or fora substantial part of such properly, or
<br />such a receiver or trustee shall be appointed and shall not be discharged within thirty (30) days afar appointment; or
<br />( e ) A writ of execution or #41achowtorany similar process shall be issuedor levied agatnstallorany partof or interest
<br />In such properly, or ar+y jtfdgM.0t involving monetery damages shall be entered against Trustor which "N becomes Ilan
<br />on such property or portion thomot or interest therein and such execution,attachment orsimller processor judgment is not
<br />released, bonded, saflaf",ed,,vacoled or stayed within sixty ( W ) days after Its entry or levy; or
<br />(f ) Bankruptcy. inrl<o(trpnry, reorganization, arrangement, or liquidation proceedings or other proceedings for relief
<br />under any bankruptcy law or other law for the relief of debtors shall be instituted by or against Trustor or any Guarantor
<br />hereof and if Instituted against such parry shall be consented to or O all not be dismissed within sixty ( 60 ) days afar such
<br />ins"ut w 0
<br />(. q) .Trull m or any successor in Interest of Trustor, voluntarily or involuntarily should sell.- exact, convey, transfer,
<br />contract to sail;:lease with option to purchase, sublease. dispose of. change the character or use of, or further encurMber
<br />wAhptop+u .ocany partthersof.oranyinlerest therein. or if any saidpartiessWbedivested of ti letosuch real property
<br />oft any p11ft}ilereiot,,or say interest either voluntarily or involuntarily. or if tide to such property be subjected to any WOW
<br />el?ragrge.,yal~ily'or Involuntarily. contractual or statutory, without•the written consent of Barallciary being first had
<br />eieirted, a
<br />(h )K. Tmatorisspartnershipand the intwestofageneralpartnerterminates, isassignedortransterred ,orisdiminished
<br />in any r±espsct or if Trustor isacorporation ands majority of the voting corporate stock is transferred, sold or assigned, or if
<br />Me Trustor is a Trustee of a trust and there is a change of any of the Beneficial interest of the trust or
<br />( i )Trustor shall. without the consent of Beneficiary, create or consent to the establishment of a district which has taxing
<br />powers.
<br />ACCELERATION UPON DEFAULT; ADDITIONAL REMEDIES: In the event of any default hereunder, Beneficiary rney, at
<br />(a ) Ter**m to additional advances, if any. to be made under or pursuant to the Promissory Note or airy building loan
<br />( b ) Declare any sum secured hereby immediately due and payable and the same shall there upon become due and
<br />pay" without any presentment demand, protest or notice of any kind. or
<br />( c ) At any time, with or without notice. eer. in person, by agent, ar by receiver to be appointed by the Court wlt�out
<br />regard b the adequacy of any security for iththin indebtedness secured-hereby, enter upon and take possession: Of such
<br />property or any part thereof, make, cancel, enforce or modify loom. obbunand ejecttenants, set or modify rents; in its own
<br />name sueoretherwrsecollectthe rents. income. Issues fw WprotibMsemeol, lnckxWg those past duesndunpaid; and apply
<br />the same, less costs and expenses of operatign, includ g cessonable attorney's few upon any kXkg Aedness secured
<br />hereby end in such order as Beneficiary may 0Mermine; and except Swsuch application. BertalBciary shall not be liable to
<br />arty ps sonfirir the collection or noncollection' any rents. income, issues or profitsfor the failuntoassedorenforce arty of
<br />'the foregoing rights, nor shall Beneficiary by charged with any of" duties and o,"g tions of a mortgagee M possession.
<br />The on%ring upon and taking possession of such property, the collection of such sent, income. issues orprofits. the doing
<br />of other acts herein authorized, and the application thereof as aforesaid, shall not cure or waive any default or notice of
<br />do*At hereunder or invalids%any act done pursuant to such notice; -or
<br />( d ) Cause to be filed on record, a written notice of default and electiorito sell such property. After the lapse of such time
<br />as then rW be required by law following recordation of surch notice of default and notice of sale hav*.v bean given as
<br />requiredbyelaw. Trustee without dsrnandon Trustorshall soli suchproperty, eitherasa wholeor in separalsaparceh, and in
<br />such order as ftor SwmO ciary may determine at public auction to the highest bidder. The Trustlsamay postponethesaisof
<br />sit or any portion of such property by public announcement at tlie lime of sale, and from tiow to time dweafisr, may
<br />defier to such purcchha�iser its deed conveying the propwV so sold, fixed without any covenant QKr wa to T or fmplied.
<br />The retft In such deed of any matters of fact orotherwiseshafl be conclusive proo falMetruftUneaeletoo Any person,
<br />including Trustor, Trustee or Beneficiary. may purchase at said sale. Trustee may also sell at any such sale and as aped
<br />thereof. any shalres of corpora% stock sscurirgtt+e obYgtNon serve. ed hereby, and Tn,stor waives denwhd and notice of
<br />lwCh sae. (Bertellciary as its option may sbo tbrecbse on sue:h shares by indepsnderht pledge sake, and Trustor waives
<br />demand otnotice of such seN.) At%r deducting all costs, beg and expenses of Trustee. and of this trusty ittcludirg coat of
<br />evidence of title in connection with such sob, Trustee shall first apply the proceeds of sale to the payment of all sums
<br />expended under the terns hereof. not then repaid, with accrued interest at the rate then payable under the nob or Holes
<br />secured hereby. and then to payment of all other sums secured hereby, and if thereafter there be any proceeds remaining,
<br />dislribule them to the person or persons legally entitled thereto.
<br />ii this Decd of Trust or any note secured hereby provides for any charge for prepayment of any indebtedness secured
<br />hereby. Trustor agrees b pay said charge, if any of said indebtedness shall be paid prior to the maturity date thereof stated
<br />in said note or this Deed of Trust evert if and notwithstanding Trustor shall have defaulted in payment thereof. or in
<br />performance otany agreernernhereunder. and Beneficiary by reason; thereof. shall have declared all sums secured hereby
<br />i"W Wdismy due and payable.
<br />SC14EDULE OF LEASES: Within ton( 10 ) days after demand. Trustor shall furnish to Trustee or Beneficiary a schedule,
<br />certil4ed by Trusfc►r, setting forth all leases of such property, including, in each case." name of the tenants or occupants, a
<br />des: ribo^, w tt4 %;earn =csp*d b f such tenant and occupant. the rend payable for such space and such othei
<br />inforrrrelgn and documents with respect to such leases and tenancies as the Trustee or Beneficiary may request.
<br />COVENANTS OF TRUSTOR WITH RESPECT TO LEASES Without the prior written consent of Trustee or Beneficiary.
<br />Trustor shall not, durst ;y or indirectly, with respect to any lease of space in such property. wtietiter such lease is not or
<br />twea%q sn vx,.%teli;ce ( a) accW of perm +t any prepayment, discount or advance payrrent of rem w.eteund#Lr t b )cancel
<br />or termtrta,le the saute or sr*cW any cencellatiori, tem unatttzn or ssrrender thereat or perr -1 any evetit to tsGCur vyh•ch
<br />rAr;�uld'lM',itti�,► sty!'?!' SSf' �1' teeCUnd�Sst'.` t�rtY: rnl�Ct ,r!.T+�C #3bthF?SriFrTL�.I � } tinter:+ j( aniC; t'). tythe�: im( �S(i.;nt�rC•ittt:�`lttt'LC'�r?t
<br />7
<br />..e.J
<br />
|