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89-- 104123
<br />TO PROTECT THE SECt; RITY OF THIS TRUST DEED, TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS
<br />i PAYMENT OF PRINCIPAL AND INTEREST. Trustor shall promptly pay when due the principal of and interest on Ilse indebtedness
<br />evidenced by tho Noto, and all other chortles and fees as provided m the Note. and the principal otand interest on any Future Advances secured
<br />by this Trust Deed.
<br />2. WARRANTY OF TITLE. Trustor is lawfully seized 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 clear of all liens and encumbrances oxcept liens now o f f ecord. and
<br />Trustor will warrant.and defend the title to the Property against all claims and demands.
<br />3. MAINTENANCE AND COMPLIANCE WITH LAWS. Trustor shall keepthe Property in good repair and condition and shall not commit waste
<br />or permit impaitmant,or deterioration of the Property and shall comply with the provisions of any lease it this Trust Deed is on a leasehold. No
<br />improvement nowor,hereafteferected uponthe Properly shall bealtered, removedor demolished without the prior written consentolSeneticiary.
<br />{ Trustor shallcompllrwith all laws. ordinances, regulations. covenants, conditions and restrictions affectingthe Property and not commit, suffer or
<br />permit any act to be done in or upon the Property in violation of any law, ordinance, regulation, covenant, condition or restriction, Truslot shall.
<br />complete or restore promptly and In good workmanlike manner any improvement on the Property which may be damaged or destroyed and Any.
<br />when due, all claims for tabor performed and materials furnished therefor and for any alterations thereof.
<br />j 4. INSURANCE. Trustor, at its expense, will maintain with insurors approved by Beneficiary, insurance with respect tothe improvements and
<br />personal property, constituting the Property, against loss by fire, lightning, tornado, and other perils and hazards covered by standard extended
<br />coverage indorsement, in an amount equal to at least one hundred percent (100 %) of the Lull replacement value thereof and insurance against
<br />1 such other hazards and in such amountsas is customarily carried by owners and operators of similar properties or as Beneficiary may.require for
<br />its protection. Trustor will comply with such other requirements as Beneficiary may from time totime requestforthe protection by tnsuranceof the
<br />interests ofthe respective parties. All insurance policies maintained pursuant tothis Trust Deed shall name Trustor and Beneficiary as insured. as
<br />their respective interests may appear, and provide that there be no cancellation or modification without at least 15 days prior written notification to
<br />Trustee and Beneficiary may procure such insurance in accordance with the provisions of paragraph 6 hereof. Trustor shall deliver to Beneficiary
<br />the original policies of insurance and renewals thereof or memo copies of such policies and renewals thereof. Failureto furnish 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 other 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 T
<br />promptly furnish to Beneficiary receipts evidencing such payments. Trustor shall pay all taxes and assessments which may be levied upon j
<br />Beneficiary's interest herein or upon this Trust Deed without regard to any law that may be enacted imposing payment of the whole or any part
<br />thereof upon the Beneficiary. -
<br />6. ADDITIONAL LIENS AND PROTECTION OF BENEFICIARY'S SECURITY. Trustor shall make all payments of interest and principal and
<br />payments of any other charges. tees and expenses contractedtb be. pa.td to any existing or subsequent lienholder or beneficiary, under any
<br />existing or subsequent mortgage or trust deed before the date tray are delingeni or in default, and promptly pay and discharge any and all other
<br />liens, claims or charges which may jeopardize the security granted herein. If Trustor fails to make any such payment or fails to perform any of the
<br />covenants and agreements contained in this Trust Deed, or the Note referred to herein, or in any prior or subsequent trust deed, or if any action or
<br />proceeding is commenced which materially affects Beneficiary's irterost in the Property, including, but not limited to, eminent domain proceed- - -
<br />ings, proceedings rmtiolving a decedent, notice of sale by Trustee, notice of default by Trustee, mortgage foreclosure action, or if Trustor fails to
<br />pay Trustor's debts. generally as they become due, then Beneficiary, at Beneficiary's option and without notice to or demand upon Trustor and
<br />without releasing Tc;sstor from any obligation hereunder, may make such appearances. disburse such sums and take such action as is necessary
<br />to protect Beneficiary's interest, including, but not limited to, disbursement of reasonable attorney's tees, payment, purchase. contest or
<br />compromise of any: encumbrance, charge or lien, entry upon the Property to make repairs, or declaration of default under this Trust Deed. In the
<br />event that Trustor sTia_ll fail to procure insurance or to pay taxes, assessments, or any other charges or to make any payments to tarns existing or
<br />subsequent lienhctdars or existing or subsequent beneficiaries. Beneficiary may procure such insurance and make such payment, but shall not
<br />be obligated to dia so. Any amounts disbursed by Beneficiary pursuant to this Paragraph 6 shall become additional indebtedness of Trustor
<br />secured by this TrustDeed. Such amounts shall be payable upon notice tram Beneficiary to Trustor requesting payment thereof, and shall bear, �
<br />interest from the date of disbursetrrertat therate payable from time to time on outstanding principal under the Note unless payment of interestat
<br />such rate would be contrary to applica to laa:, in which event such amounts shall bear interest at the highest rate permissible under applicable
<br />law. Nothing contained in this Paragraph 6/ehrail 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 continuance of this Trust Deed to collect the
<br />rents, issues and profits of the Property and of any personal property located thereon with or without taking poseession of the property affected —_
<br />hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits to. eenetictary. Beneficiary however, hereby
<br />consents to the Trustor's collection and retention of such rents, issues and profits as they accrue and become payable so tong 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 to be appointed by a court, without notice and without regard
<br />tothe•adequacy of any security forthe indebtedness hereby,! sficured. (a) enter upon and take possession of the Property or any part thereof. and-in,
<br />its own name sue for or otherwise collect such rents, issges,and profits. including those past due and unpaid, and apply the same. less costs and:
<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 grrsof repair or protection asmaybe necessary or proper to conserve the value of 11!11—Property: (c)
<br />lease the same or any part thereof for such rental; term, and upon such conditions as its judgment may dictate. or terminate or adjus( :it'e terms and
<br />conditions of existing leases. Unless Trustor and Beneficiary thereof agree otherwise in writing, any application of rents. issues or profits to any
<br />indebtedness secured hereby shall not extend or postpone the due date of the installment payments as provided in said promissory note or
<br />change the amount of such installments. The entering upgrt alid taking possession of the Property. the collection of such rents. issues and profits.
<br />and the application thereof as aforesaid, shaMnot waive arcure any default or notice of default hereunder or invalidate any act done pursuant to
<br />such notice. Trustor also assigns to Benefrciary,.asfurther securityforthe performanceof 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 rent or
<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 />Delivery of written notice of Beneficiary's exercise of the rights granted herein, to any tenant occupying said premises shall be sufficient to require said tenant to pay rent to the Beneficiary until further notice
<br />6 CONDEMNATION. If title to any part of the Property shall be taken in condemnation proceedings, by right 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 Benef,c my
<br />who shall apply such awards, damages and proceeds to the sum secured by this Trust Deed with the excess if any. paid to Trustor If Trustor i
<br />receives any notice or other information regarding such actions or proceedings, Trustor shall give prompt written notice thereof to Beneficiary
<br />Beneficiary shall be entitled. at its option, to commence. appear in and prosecute in its oven name any such action or proceedings and shad be
<br />L entitled to make any compromise or settlement in connection with any such action or proceedings
<br />9 FUTURE ADVANCES. Upon request of Trustor. Beneficiary at Beneficiary s option. prior to reconveyance of the Prcpr•rty lu TIustur • a.
<br />makefutureadvarcestoTruslor Such future advance% vnih,nterestthereon shall be secured birth�s I rust Deed rthennv drnrndv pro,- v I,-
<br />cnlns Sfatino that �.a,d nntos are• secured hereby vtovided that at no time snaii the secute0 pr,ric-VaI and ruture advant e,, ,,it +ni ;,d •'q , ^` -
<br />ad+anr.ed to protect Ih[r Secur It I, Purr eed Iwo hun (It ed per cc woo`'.i pI ine or,9inaI pr nc�vaj aniounrs .�: Linen hp,vi) t
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