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89-7 103981
<br />1.
<br />( d ) Trustor shall have procured, permitted or suffered, voluntarily or involuntarily, any creditor to obtain a lien not
<br />permitted herein upon all or part of such property; Trustor or any guarantor of the indebtedness secured hereby shall
<br />become insolvent of 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 the appointment of receiver ortrusteefor it orfora substantial partof such property, or
<br />such a receiver or trustee shall be appointed and shall not be discharged within thirty (30) days after appointment; or
<br />( e ) A writ of execution or attachment or any similar process shall be issued or levied againstall or any part of or interest
<br />In such property. or any ludgment involving monetary damages( shall be entered apinst Trustor which shall become a lief►
<br />on such properly or portion thereof or interest therein and such execution, attachment or similar process orludgment is not
<br />released, bonded, satisfied, vacated or stayed within sixty ( 60 ) days after its entry or levy; or
<br />(f ) Bankruptcy, Insolvency. 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 party shall be consented to or shall not be dismissed within sixty ( 60 ) days after such
<br />Institution; or
<br />(g ) Trustor or any successor in interest of Trustor, voluntarily or involuntarily should self. exact convey, transfer,
<br />contract to sell. lease with option to purchase, sublease, dispose of, change the character or use of, or further encumber
<br />such property, or any part thereof, or any interest therein, or if any said parties shall be divested of title to such real property
<br />of any part thereof, or any interest either voluntarily or involuntarily, or if title to such properly be subjected to any lien or
<br />charge voluntarily or involuntarily, contractual or statutory, without the written consent of Beneficiary being first had
<br />obtained, or
<br />(h ) If Trustor is a partnership and the interest of a general partner terminates, isassigned or transferred, or is diminished
<br />in any respect, or if Trustor is a corporation and a majority of the voting corporate stack is transferred, sold or assigned, or if
<br />the 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 hastaxing
<br />powers.
<br />ACCELERATION UPON DEFAULT.. ADDITIONALREMEaiES: In the a vet'rr;at•any default hereunder, Beneficiary may, at
<br />its aption,:
<br />( a ) Terminate additional advances,, if any, to be made under or pursuant to the Promissory Note or any building loan
<br />agreement; or
<br />( b ) Declare any sum secured hereby immediately due and payable and. the same shall there upon become due and
<br />payable without any presentment, demand, protest or notice of any kind; or - "
<br />( c ) At any time, with or without notice, either in person, by agent. or by receiver to be appointed by the Court without
<br />regard to the adequacy of any security for the indebtedness secured hereby, enter upon and take possession of such
<br />property or any part thereof, make. cancel, enforce or modify leases; obtain and eleettenant% War modify rents; in its own
<br />name sue or otherwise collect the rents, income, issues and profits thereof, including,those pastdue and unpaid; and apply
<br />Me same. less costs and expenses of operation, including reasonable attorney'$ flees, upon any indebtedness secured
<br />hereby and in such order as Benefi iary may determine; and except for inch applicaition, (Beneficiary shall not be liable to
<br />any person for lhecollectioct ar noncollection of any rents, income. issuesaVc profits for the failure to assert or enforce any of
<br />the foregoing rights, nor sha Beneficiary by charged with any of the duties and obligations of a mortgagee in possession.
<br />The entering upon and takiriglaessession of such property,the collection of such rents, income, issues or profits, thedoing
<br />of other acts herein authorized, and the application thereof as aforesaid, shall not cure or waive any default or notice of
<br />default hereunder or invalidate any.act done pursuant to such notice; or
<br />( d ) Cause to be filed on record, a written notice of default and election to sell such property. After the lapse of such time r
<br />as then may be required by law following recordation of such notice of default; and notice of sale having been given as
<br />required by law. Trustee without demand on Trustor shall sell such property. either rMea whole or In.sirparate parcels, and in
<br />such order as it or Beneficiary may determine at publ is auction to the highest bidder. The Trustee may postpone the sale of
<br />all or any portion of such property by public announcement at the time of sale. and from time to time thereafter. may
<br />postpone the sale by public announcement at the time and place fixed by the proceeding postponement Trustee shall
<br />deliver to such purchaser its deed conveying the property so sold, without any covenant or warranty. express or implied.
<br />The recital in such deed of any matters of fact or otherwise shall be conclusive proof of the truthfulness dweW. Any person,
<br />including Trustor, Trustee or Beneficiary, may purchase at said safe. Trustee may also sell at any such sate and as a part
<br />thereof, any shares of corporate stock securing the obligation secured hereby. and Trustor waives demand and notice of
<br />such sale. (Beneficiary at its option may also foreclose on such shares by independent pledge sale. and Trustor waives
<br />demand of notice of such sale.) After deducting all costs, fees and expenses of Trustee, and of this trust, including cost of
<br />evidence of title in connection with such sale, Trustee shall first apply the proceeds of sale to the payment of all sums
<br />expended under the terms hereof, not then repaid. with accrued interest at the rate then payable under the note or notes
<br />secured hereby, and then to payment of all other sums secured hereby, and if thereafter there be any proceeds remaining,
<br />distribute them to the person or persons legally entitled thereto.
<br />If this Deed of Trust or any note secured hereby provides for any charge for prepayment of any indebtedness secured +
<br />hereby, Trustor agrees to 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, even if and notwithstanding Trustor shall have defaulted in payment thereof, or in
<br />performance of any agreement hereunder, and Beneficiary by reason thereof, shall have declared all sums secured hereby
<br />immediately due and payable.
<br />SCHEDULE OF LEASES: Within ten( to ) days after demand. Trustor shall furnish to trustee or Beneficiary a schedule,
<br />certified by Trustor, setting forth all leases of such property, including, in each case, the name of the tenants or occupants, a
<br />description of the space occupied by such tenant and occupant, the rental payable for such space and such other
<br />information and documents with respect to such lea °,.es and tenancicJ as tho Trustc;, or Benofrciari may roclucst.
<br />COVENANTS OF TRUSTOR WITH RESPECT TO LEASES Without the prior written consent of Trustee or Beneficiary.
<br />Trustor shalt not, directly or indirectly, with respect to any lease of space in such property. whether such lease is not or
<br />hereafter in existence ( a I acceptor permitanyprepayrrtent. discount oradvancepaymentofronttherounder .( b ) cancel
<br />sir term:nales the some, or accept eny cancellation, termination or surrender thereof, or permit any event to occur which
<br />4MoiM entitle the les ,.eo thereunder toter ininale fir canceltrie same.( c j amt ?nd 13r crud +ftir Irtt? �;�mt.• Sv ,r ; t� rt du( t the term
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