201902360 - Laserfiche WebLink

Browse

201902360 2. Condemnation: If title to any part of the Property shall be taken in condemnation proceedings, by right of eminent domain or similar action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to Beneficiary who shall apply such awards, damages and proceeds to the sum secured by this Deed of Trust, with the excess, if any, paid to Trustor. If Trustor receives notice or other information regarding such actions or proceedings, Trustor shall give prompt notice thereof to Beneficiary. Beneficiary shall be entitled at its option, to commence, appear in and prosecute in its own name, any such action or proceedings and shall be entitled to make any compromise or settlement in connection with any such action or proceedings. 3. Remedies Not Exclusive: Trustee and Beneficiary, and each of them, shall be entitled to enforce payment and performance of any indebtedness or obligations secured hereby and to exercise all rights and powers under this Deed of Trust or under any other agreement executed in connection herewith or any laws now or hereafter in force, notwithstanding some or all of the indebtedness and obligations secured hereby may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement whether by court action or pursuant to the power of sale or other powers herein contained shall prejudice or in any manner affect Trustee's or Beneficiary's right to realize upon or enforce any other security now or hereafter held by Trustee or Beneficiary, it being agreed that Trustee and Beneficiary, and each of them, shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by Beneficiary or Trustee in such order and manner as they or either of them may in their absolute discretion determine. No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. Every power or remedy provided hereunder to Trustee or Beneficiary or to which either of them may be otherwise entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Beneficiary and either of them may pursue inconsistent remedies. Nothing herein contained shall be construed as prohibiting Beneficiary from seeking a deficiency judgment against the Trustor to the extent such action is permitted by law. 4. Acceleration Upon Default; Remedies; Sale: The sale, assignment, conveyance or other transfer of any interest in the Property or the failure of the Trustor to make any payment or to perform any of the terms and conditions of the Note, or any renewals, modifications or extensions thereof, or the payment of any other indebtedness secured hereby or in the performance of any of the covenants and agreements hereunder or any other Deed of Trust, mortgage or instrument of indebtedness regarding the Property shall be a breach of this agreement and the Beneficiary may declare a default and may declare all sums secured hereby immediately due and payable and the same shall thereupon become due and payable without presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may deliver to Trustee a written declaration of default and 5