|
201903152
<br />sum then due shall be and continue to be a default, notwithstanding such acceptance of such
<br />amount on account, as aforesaid, and Beneficiary or Trustee shall be at all times thereafter and
<br />until the entire sum then due shall have been paid, and notwithstanding the acceptance by
<br />Beneficiary thereafter of further sums on account, or otherwise, entitled to exercise all rights
<br />in this Deed of Trust conferred upon them, or either of them, upon the occurrence of a default,
<br />and the right to proceed with foreclosure or Trustee's sale shall in no way be impaired,
<br />whether any of such amounts are received prior or subsequent to such notice.
<br />Section 3.2 — Substitute Performance by Beneficiary. Should Trustor fail to pay or
<br />perform when required any obligation of Trustor hereunder, or pursuant to the Note, the Loan
<br />Documents or any other instrument or agreement of Trustor in connection herewith, after
<br />applicable notice and cure period, Beneficiary may, but shall not be obligated to, without
<br />regard to the adequacy of its security and without prejudice to its right to declare a default
<br />hereunder, pay or perform the same without notice or demand to or upon Trustor. The
<br />payment by Beneficiary of any delinquent tax, assessment or governmental charge, or any lien
<br />or encumbrance which Beneficiary in good faith believes might be prior hereto, or any
<br />insurance premium for insurance which Trustor is obligated to maintain hereunder but which
<br />Beneficiary in good faith believes has not been provided, shall be conclusive between the
<br />parties as to the legality and amount so paid. Beneficiary shall be subrogated to all rights,
<br />equities and liens discharged by any such expenditure. After any default hereunder, or
<br />pursuant to the Note, the Loan Documents or any other instrument or obligation of Trustor in
<br />connection with the loan secured hereby, and whether or not an action is instituted to enforce
<br />any provision of this Deed of Trust, the Note, the Loan Documents or such other instrument
<br />or obligation of Trustor, Trustor shall pay to Beneficiary any reasonable sums incurred by
<br />Beneficiary for reasonable attorneys' fees and Beneficiary's costs to enforce this Deed of
<br />Trust, the Note, the Loan Documents or other instrument or obligation of Trustor in
<br />connection with the loan secured hereby, or to protect or enforce any of Beneficiary's rights
<br />pursuant thereto. Any amounts so paid pursuant to this Section 3.2, or the cost of such
<br />performance, together with Beneficiary's costs and all of Beneficiary's expenses incurred in
<br />connection with such payment or performance, and any amounts for which Trustor is
<br />specifically obligated to reimburse Beneficiary or Trustee pursuant to provisions hereof,
<br />including interest on all such amounts at the Default Rate provided in the Note, from the date
<br />paid by Beneficiary until repaid to Beneficiary, shall be payable by Trustor to Beneficiary
<br />immediately upon notice to Trustor of the amount owing, without further demand, shall be
<br />secured by this Deed of Trust, and shall be added to the judgment in any suit brought by
<br />Beneficiary or Trustee against Trustor hereon.
<br />Section 3.3 - Non -Liability of Trustee. Trustee shall be protected in acting upon the
<br />instruction of Beneficiary and shall have no liability for any act or omission to act, but
<br />excluding the gross negligence or willful misconduct of Trustee. Trustee shall be entitled to
<br />rely upon the advice of counsel in any and all of its actions.
<br />Section 3.4 - Certain Actions by Trustee. At any time, or from time to time, without
<br />liability therefor and without notice, upon the written request of Beneficiary, without affecting
<br />the personal liability of any person for the payment of the Secured Indebtedness, and without
<br />affecting the lien of this Deed of Trust upon the Mortgaged Property for the full amount of all
<br />amounts secured hereby, Trustee may (a) reconvey all or any part of the Mortgaged Property,
<br />17
<br />
|