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89�'"' 103827
<br />TO PROTECT THE SECURITY OF THIS TRUST. DEED. 7RUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS
<br />i PAYMENT OF PRINCIPAL AND INTEREST. Truster shelf 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. Truster is lawfully seised and possessed of good and indefeasible title and estate to the Property hereby conveyed
<br />and has the right to grant and convey the Property: the Property is free and ctear of all [tens and encumbrances except hens now of record; and
<br />Truslor 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
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<br />improvement nowor hereafter otecled upon the Property shall be altered, removed or demolished witho ul the prior written consent of Benef ictaFy.
<br />Trustor shall comply with off laws. ordinances. regulations. covenants. conditions and restrictions affecting the Property and not commit. suffer or
<br />petmil 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 performed and materials furnished therefor and for any alterations thereof.
<br />4. INSURANCE. Trustor. at its expense. wil nal tarnwit insuror ap,,roved r v Beneficiary, insurancO.with respect to the improvements and
<br />personal property, constituting the Property, against loss by tire, lights any, tornac, and other perils and hazards covered by standard extended
<br />coverage indorsement. in an amount equal to at least one hundred percent (10006) of the full replacement vahju thereof and insurance against
<br />such other hazards and in such amounts as is customarily carried by owners and operators of similarprcportioe, orQi4 Beneficiary may require for
<br />its protection. Trustor will comply with such other requirements as Beneficiary may from time totime request for rttreprotection by insurance of the
<br />interests of the respective parties All insurance policies maintained pursuant to this Trust Deed shall namotrustls r and Beneficiary as insured. as
<br />their respective interests may appear, and provide that there be no cancellation or modification without at laaab 5 days prior written notification to
<br />Trustee and Beneficiary may procure such insurance in accordance with the provisions of paragraph 6 hereof. Tr. ustorshall deliverto Beneficiary
<br />the original policies of insurance and renewals thereof or memo copies of such policies and renewals thereof FWfuretoI urn ish such insurance by
<br />Trustor, or renewals as required hereunder shall, at the option of Beneficiary, constitute a default.
<br />5. TAXES. ASSESSMENTS AND CHARGES. Trustor shall pay all taxes. assessments and otheer charges, including, without limitation, fines
<br />and impositions attributable to the Property and leasehold payments or ground rents. if any, before the same become delinquent Trustor shall
<br />promptly furnish to beneficiary all notices of amounts due under this paragraph, and in the event Trustor shall make payment directly, Trustor shall
<br />promptly furnish to Beneficiary receipts evidencing such, payments. Trustor shall, pay all taxes and assessments which may be levied upon
<br />Beneficiary's interest he'relri or upon this Trust Deed without regard to any law that, may be enacted imposing payment of the whole or any part
<br />tiKefrmof upon tha.Lenehciary..
<br />S. ADDITICIMIL LIENS AND PROTECTION OF BENEFICIARY'S SECURITY. Trustor shall make all payments of interest and principal and
<br />payments of artyiplher charges, fees and expenses contracted to be paid to any existing or subsequent lienholder or beneficiary, under any
<br />em!!!tifk2er.i. bs"usent me!tgange e! I(t-et Awful he!e!e!he date !he-, are de!ing antor fit\ delate-ft and nrn l! , we., and discharge _ f,.t ell ritht:�
<br />liens, claims or charges which may leopardtte the security granted herein. If Trustor fails to make any such payment or faits to perform any of the
<br />covenants and agree mants contained in this Trust Deed, or the Note referred to herein, or in any prior or subsequent trust deed, or if any actionor
<br />proceeding iswrnmenced which materially affects Beneficiary's interest in the Property. Including, but not limited to. eminent domain proceed -
<br />inns nraceadirmn involvino a decedent. notice of sale by Trustee. notice of default by Trustee mortnaae foreclosure action_ nr if Trustnt failc fn
<br />piny Trustor's daf}ts generally as they become due. then Beneficiary, at Beneficiary's option and without notice to or demand upon Trustor and
<br />iFi)hout releasing Trustor from any obligation hereunder., may make such appearances, disburse such sums acid take such action as is necessary
<br />pm #rotect Beneficiary's interest. Including, but not limited to, disbursement of reasonable attorney's fees...Rayment, purchase, contest or
<br />ccrr.•promise ollank encumbrance, charge or lien, entry upon the Property to make- tepairs, or dectaration of detaWt under this Trust Deed. In the • "
<br />event that Trustnr shall fail to procure insurance or to pay taxes, assessments, or any other chasgespr to mako any paymentsto any existing or
<br />subsequent lienholders or existing or subsequent beneficiaries. Beneficiary may procure such msgrance and crake such p21yment, but shall not
<br />bodbiligated to do so. Any amounts disbursed by Beneficiary pursuant to this Paragraph 6 shall become adc:,Nonal indebtedness of Trustor
<br />SiTgared by this Trust Deed. Such amounts shall be payable upon notice from Benetf; fary to Trustor requestrag"yiayment thereof, and sha9rbear
<br />interest from the date of disbursement at the rate payabJif.from time to time on outstanding principal under W4-1`1p-le unless payment of intes6sl at
<br />such rate would be contrary to applicable law. in wrictrfirent such amounts shall bear interest atterp- f•.rghest rrie 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. Beneficiary shall have the right, power and authority during the continuartce,of this Trust Deed to cotlecldhe
<br />refits, issues and profits of the Property and of any personal property located thereon with or without taking pa =_session of the property affercled
<br />hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary. Beneficiary, however4 tereby
<br />consents to the Trustor's collection and retention of such rents, issues and profits 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 anytime. either in person, by agent. or by a receiver tote appointed by a court, without notice and without regard
<br />to the adequacy of any security for the indebtedness hereby secured. (a) enter upon ardtake possession of the Property or any part theieGt.and in
<br />itsown name sue for or otherwise collect such rents. issues and profits. Including those past due and unpaid, and apply the same. less ccstsand
<br />expenses of operation and collection, including reasonable attorney's fees. upon any indebtedness secured hereby, and in such order as
<br />Beneficiary may determine: (b) perform such acts of repair or protection as maybe necessary Or proper to conserve the value of the Property; (c)
<br />lease the same or any part thereof for such rental. term. and upon such conditions as its ludgm irttmwydictate, orterminateorad,;ustthetermsand
<br />conditions of existing leases. Unless Trustor and Benetic•ary thereof agree otherwise in writing, any application of rents. issues or profits to any
<br />thdebtitdness secured herebyshall not extend or postpone the due date of the installment payments as prowrded in said promissory note or
<br />change the amount of such installments. The entering upon and taking possession of fte.Property, the collection of such rents. issues and profess.
<br />and the application thereof as aforesaid, shall not waive or cure any default or notice•ot,defauh hereunder or invalidate any act done pursuant to
<br />such notice. Trustor also assigns to Beneficiary, asfurther security for the performance of the obligations secured hereby. all prepaid rents and all
<br />monies which may have been or may hereafter be deposited with said Trustor by any lessee of the Property, to secure the payment of any renter
<br />damages, or upon default in the performance of any of the provisions hereof. Trustor agrees to deliver such rents and deposits to Beneficiary
<br />Deliveryof written noticeof Beneficiary sexercise of the rights granted herein, toany tenant occupying saidprerr:ses shall be suf!ir.Ienf to require
<br />said tenant to pay rent to the Beneficiary until further notice.
<br />8 CONDEMNATION, It title to any part of the Property shall be taken on condemnation proceedings, by fight 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 Beneficiary
<br />who shall apply such awards, damages and proceeds to the sum secured by this Trust Deed. wi!h the excess. If any paid to Tfustor It Trustor
<br />receives any notice or other information regarding such actions or proceedings. Truster shall give prompt written notice thereof to Beneficiary
<br />Beneficiary shall be entitled. at its option. to commence. appear in and prosecute in Its own name any such action of proceedings and cilia:; r.
<br />! enlilled to make any compromise or settlement in connection with any such action o, proceedings
<br />Li 9 FUTURE ADVANCE'S. Upon request of Trustor. Bene!iciary at Beneficiary s option prior to recrnveyaece o! the Property rr T
<br />make future advances toTfustor Such future adrances w,thinteresithereon snartoesecuredGytn STr :,51t7eenri! enrv,rte, r.•, :r y;•,
<br />110!89 Slating that Sara poles are secured hereby. pror:ded that at no f.me ,f ai, the Securcd pr •nr •p.li and t,,tu!c, ar!var rt,v
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