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90- 106051
<br />the Property Is se takerl or damaged. Lender shall have the option. In Its sole and absolute discretion, to apply AN such Proceeds,
<br />alter ya pr►ting therefrom all costs and expenses Incurred by it In connection with such Proceeds, upon any Indebtedness secured
<br />herebyabd' In such order as Lender may determine, or to apply all such Proceeds, after such deductions, to the ratoratlon of the
<br />Property upon such conditions as Lander may determine. Any appllbatfon of Proceeds to Indebtedness shall not extend or postpone
<br />the due dais of any payments under the No* or. awe any default thereunder or hereunder. Any unapptlod funds shall be paid to
<br />TM F
<br />b. Pjrloirmsnce by Lender. Upon the occurrence of an Event of Delaulf ?hereunder. or If any act Is taken or legal proceeding
<br />commenced which materially affects Londer'e Interest In the Properly, Lander May In Its own discretion. but without obligation to do
<br />so, and without notice to or demand upon Trustor and without releasing Trustor from any obligation, do any act which Trustor has
<br />agreed but fails to do and may also do any other act it deems necessary to protect the asourity hereof. Trustor shall, Immediately
<br />upon dornand M irefor by Lefif>1er. pay to Lender all cosh and expenses Incurred and sums expended by Lender In connection with
<br />tithe exercise by Lender of #to fbrsgotrlp rights. together with Interest thereon at the default rate provided In the Note, which shall be
<br />�ddal .to thp•Indebtadrtesecttred -hereby. Lender shall not Incur any liability because of anything it may do or omit to do
<br />.:'q,,:Nt 6 d&0 Mskitsll. Vustor'ahiil(keep the Properly in compliance with all applicable laws, ordinances and regulations
<br />a"Ing to Industrial hypfetl$ or.pnvfrontneintal protection (collectively referred to herein as "Environmental Laws'). Truster shelf
<br />keep the Property tree from Nit dubatancara deemed to be hazardous or toxic under any Environmental Laws (collectively referred to
<br />heroin as "Hazardous t there are no Hazardous Materials an or
<br />'Wafter, Property. Truster hereby apfre9m to Indemnity and hold harmleae lender, its direcWe, officers. employess and agents, and
<br />!' , lafny.sQceesoro to Lender'* imepesl, . m and against any and all cfalme, damages, losses and liabilities arising In connection with
<br />us"*. di or about the ►N IAR� ES AND PEPResESENTATiONa AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY. SHALL
<br />, .,WRVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br />10. AssignnnM of Rent. Trustor hereby assigns to Lender the rents, Issues and profits of the Propmrty; provided that Trustor
<br />ghall, until the occurrence of an Event of Default hereunder. have the right to collect and retain such rents, Issues and profile as they
<br />.:become due and payable. Upon the occurrence of an Event of Default, Lender may, either in person or by spent, with or without
<br />�bNnptng any action or proceeding, pr by a receiver appoolnted by a court and without regard to the adegway of Its security, enter
<br />_ •;upon and take posseselon of the Property; or any partthereof, in Its own name or In the name of the Trustee, and do any sate whbh It
<br />:,.dleltms necesmary.or desirable to preserve 1havalue, marketability or rentsblliy o1 the Property, or any part thereof or interest tlfsreln,
<br />�' ihacrsase the income therefrom or protect the gacurly hereof and, with or without taking possession of the Properly. sus for or
<br />• a�k'rarwise collect the rerfts. issues and profits thereof, including those past due and unpaid, and apply the came, Isse costs and
<br />expsnoss of operation and colleCtton Including attorneys' fees, upon any indebtedness assured herby, all pre �Irh rX�r ere larttler
<br />musty diMrmlral. The enteringn and taking pfotfeeasion o1 the Properly, the collection of such rent, Issues and profit and the
<br />application thereof as aforese*l, "aW1 qot cure or waive any default or notice of default hereunder or Invalidate any act done In
<br />response to such detaultorp,y "n io sucfe,npt ice of default and, notwithstanding the continuance In possession of the Property or
<br />the collection, receipt av d 40licatim of ramp, issues or profits, and Trustee and Lender shall be entitled to exercise every right
<br />provided for in any oftheLosa'hfatrumerkts,or :6y law upon occurrence of any Event of Default, including without limitation the right
<br />to exercio8lhe power of ssle FurlZ±�er. Z antfpr'® rl�hta and remedies under this paragraph shall be cumulative with, and In no way a
<br />Iimita6oro rt�n, Lender's fights find riaimedirfs unffq airy assignment of leases and rents recorded against the Property. Lender. Tnatee
<br />and the vepiver shelf be liable tp ;account gfiiy'igr those rents actually received.
<br />t4. #:seals d DdauN. The fagowing'atrolt conafitute an Event of Default under this Deed of Trust:
<br />(a) Falluro b pay any InslA7lrnerlt 4it ptlncipal or Interesrt of any other sum secured hereby when due,
<br />(b) A breach of or default uhpier any provision contained in the NOW this Dead of Trust any of the Loan Instruments, or any
<br />other Ilan or encumbrance upon the Property;
<br />(c) A writ of execution or attachment or any similar process shalibe entered against Trustor which shati become a lien on
<br />tyre -lyppo ty or any portion thereof or interest therein;
<br />There stroll be filed by or against Trustor or Borrower an action under any present or future federal, state or other
<br />stsata* t#w or rogulstion relatirq to br►nkruptcy, insolvency or other relief for debtors; or there shall be appointed any trusts,
<br />recei
<br />**c of TrusWror t3orrpwer or of all pr any part of the Property. or the rents, issues or probes thereof. or Trustor
<br />or BorrariieR stall make any ylenerat assignment for tt�e benefit of creditors;
<br />(e) Tfw .wok, traneter. !erase, assignment conveyance or further encumbrance of all or any part of or any Interest in the
<br />Propery. env voluntarily'or invaltrntsrliy, without tfte express written consent of Lender. provided that Trustor sting be
<br />permitted 10ea�et;utla a tetsse .cif the P,tgperty that doe not ccnlafn an option to purchase and the team of which dos not exceed
<br />orte
<br />year
<br />M Absrml mmsrit of the'Property; or
<br />(g) If Trutlords*d an Individual. the Issuance, sale, transfer. assignment, conveyance or encumbrance of more than a bbl
<br />of percent of (if a corporation) its issued and outstanding stock or (if a partnership) a total of percent of
<br />psrbfership Interests during the period this Deed of Trust remains a -lion on the Property.
<br />12. RMMdles; Ac c, bration Upon Depwll. In the event of any Event of Default tender may, without notice except as required by
<br />law. declare all bi lM dnbos secured hereby to be due and ,payable and the same shall thereupon become due and payable
<br />wirwut any plreeenti*vtLa0letAL- Oatest or notice of any kind. Thereafter Lender may:
<br />(a) Dsmarrd'ttatit ?fhtiso exercies the POWER OF SALE .granted herein, and Trustee shsit thereafter cause Trustee's
<br />Intereat In the Pre wa* to to wid -and the proceeds to be dislydiiied, ail in the manner provided ire the N breaks Trust Deeds
<br />Act '
<br />(b) Fwc lso of s4,0 +rights provided for In any. of the loan Instruments or by lair capon occurrence of any Event of
<br />Default; and
<br />oovtinants tferook eta raaus w ao tower 1psq, title Veed.of Tftja ax 4 morajyage,,app,oW a receiver. or specifically enforce any d fate
<br />V. _1. _._ J.
<br />.ry rwrmwy r�ra..r .w►^..^.■ ijw, vw JvG w*6 n+ T ru6me or i iRdv is w"wv w =pee exclusive of any other remedy herein, in Bu
<br />Loan k%truaiwitis w by taw Pt&#idW or permitted, but each shall be cumulative. small be in addition to wary other remedy given
<br />hereunder. In the Loan Instrumeato•or now.or hereafter exleting at low.or in equity or by statute, and may be exerolsed conaurrentiy,
<br />Independently or successively.
<br />19. Truslas. The Trustee may resign at any time without cause, and Lender may at any fime and without cause appoint a
<br />suoosaor or substitute trustee. Truax shall not be liable to any party, including without limitation Lender, Borrower. Thator or any
<br />purchaser of the Property, for any loss or damage unless due to reckless or willful misconduct and shall not be required to take any
<br />scow In connection with the enforcement of this Deed of Trust untege Indemnified. In writing, for all cools, compensation or
<br />expenses which may be essociated therewith. In addition, Trustee may become a purchaser at any sale of the Property Qudlolal or
<br />under the power of sale granted heroin); postpone the sale of all or any portion of the Property, w provided by law; or mall the
<br />Pntpwy as a whole, or In separate parcels or lots at Trustee's discretion.
<br />14. Fees end Uponsee.In the event Trustee sells the Property by exercise of power of sate. Trustee shall be entitled to apply
<br />any sale proceeds nrst to payment of all costs and expenses of exercising power of sale, Including all Trustee's hoe. and Lender's
<br />and TrusloWs attorney's hse,aafually Incurred to extent permitted by applicable law. In the went Borrower or Trustor exerc4em any
<br />right provided by law to our* on Event of Default tender shall be entitled to recover from Trustor all costs and expenses actually
<br />inourred *4 • rewN of Truetor'e default, Including without Ilmitstion all Trustee's and attorney's fees, to fire extent permitted by
<br />applicable law.
<br />16. Future Atitrwaft Upon request. of Borrower. Lender may. at its option, make additional and future advances and re•
<br />advances to Borrower. Such advances and readvances, with interest thereon, shall be secured by this Deed of Trust At no time shall
<br />the principal amount of the Indebtedness secured by this Deed of Trust not including sums advanced to protect the security of this
<br />Dead of Trust, "ON the original principal amount stated herein, or $ whichever is greater.
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