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201902360
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Last modified
4/25/2019 3:51:56 PM
Creation date
4/25/2019 3:51:55 PM
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DEEDS
Inst Number
201902360
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201902360 <br />by Beneficiary pursuant to this Paragraph A.6 shall become additional indebtedness of <br />Trustor secured by this Deed of Trust. Such amounts shall be payable upon notice from <br />Beneficiary to Trustor requesting payment thereof, and shall bear interest from the date of <br />disbursement at the rate payable from time to time on outstanding principal under the Note <br />unless payment of interest at such rate would be contrary to applicable law, in which event <br />such amounts shall bear interest at the highest rate permissible under applicable laws. <br />Nothing contained in this Paragraph A.6 shall require Beneficiary to incur any expense or <br />take any action hereunder. <br />B. IT IS MUTUALLY AGREED THAT: <br />1. Assignment of Rents: Beneficiary shall have the right, power and authority <br />during the continuance of this Deed of Trust to collect the rents, issues and profits of the <br />Property and of any personal property located thereon with or without taking possession of <br />the property affected hereby, and Trustor hereby absolutely and unconditionally assigns all <br />such rents, issues and profits to the Beneficiary. Beneficiary, however, hereby consents to <br />the Trustor's collection and retention of such rents, issues and profits as they accrue and <br />become payable so long as Trustor is not, at such time, in default with respect to payment <br />of any indebtedness secured hereby, or in the performance of any agreement hereunder. <br />Upon any such default, Beneficiary may at any time, either in person, by agent, or by a <br />receiver to be appointed by a court, without notice and without regard to the adequacy of <br />any security for the indebtedness hereby secured, (a) enter upon and take possession of <br />the Property or any part thereof, and in its own name due for or otherwise collect such <br />rents, issues and profits, including those past due and unpaid, and apply the same, less <br />costs and expenses of operation and collection, including reasonable attorney fees, upon <br />any indebtedness secured hereby, and in such order as Beneficiary may determine; (b) <br />perform such other actions of repair or protection as may be necessary or proper to <br />conserve the value of the Property; (c) lease the same or any part thereof for such rental, <br />term and upon such conditions as its judgment may dictate or terminate, or adjust the <br />terms and conditions of existing leases. Unless Trustor and Beneficiary thereof agree <br />otherwise in writing, any application of rents, issues or profits to any indebtedness secured <br />hereby shall not extend or postpone the due date of the installment payments as provided <br />in said promissory note or change the amount of such installment. The entering upon and <br />taking possession of the Property, the collection of such rents, issues and profits, and the <br />application thereof as aforesaid, shall not waive or cure any default or notice of default <br />hereunder or invalidate any act done pursuant to such notice. Trustor also assigns to <br />Beneficiary, as further security for the performance of the obligations secured hereby, all <br />prepaid rents and all monies which may have been or may hereafter be deposited with said <br />Trustor by any lessee of the Property, to secure the payment of any rent or damages, or <br />upon default of the performance of any of the provisions hereof, Trustor agrees to deliver <br />such rents and deposits to Beneficiary. Delivery of written notice of Beneficiary's exercise <br />of the rights granted herein, to any tenant occupying said premises shall be sufficient to <br />require said tenant to pay rent to the Beneficiary until further notice. <br />4 <br />
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