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s9- 104739
<br />TO PROTECT THE SECURITY OF.. THIS TRUST DEED, TRUSTOR HEREBY COVENANTS AND AGREES A8 FOLLOWS
<br />1. PAYMENT OF PRINCIPAL AND INTEREST. Truster shall promptly pay when due the principal of and interest on the indebtedness
<br />ri evidenced by the Note, andatlotherchargesandfeesasprovide dintheNote, andtheprincipalofandinterestananyFutureAdvance6secured
<br />by this Trust Deed.
<br />1 2. WARRANTY OF TITLE. Truster is lawfully seized and possessed of good and indefeasibletitle and gstate 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 except liens now of record: and
<br />t Tfustor will warrant and defend the title to the Property against all clairvis and demands.
<br />3. MAINTENANCEAND COMPLIANCE WITH LAWS. Truster shall keepthe Property in good repair and condition and shall not commit waste
<br />4 or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Trust Deed is on a leasehold- No
<br />p improvement flowerhereaitererecteduponthePropernishallbealtered, removedordemolishedwithout thepriorwr ittenconsentatBeneficiary
<br />Truster shall comply with all laws, ordinances, regulations, covenants. conditions and restrictionsaHecting the 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 Trustor shalt
<br />complete or►estore promptly and in goad wofkmanlike manner any Improvement on the Property which may be damaged or destroyed and pay,
<br />-1 when due, all claims for tabor performed and materials furnished ttie'rvtor and for any alterations thereof.
<br />4. INSU RANCE. Truster, at.itsexpense, will maintain with insurorsapproved by l3r;rteficiary. insurance with respect to the improvements and
<br />personal property, constiiutm9;fhP_9r'n0e0y, against loss by fire, Irgrytning, tornado, alid otherpienls and hazards covered by standard extended
<br />coverage indorsement, rn sir: ti rrasti>+ua}.to at least one hundred pe>cent (100 °b) of the full replacement value thereof and insurance against
<br />such other hazards and in giisJ; amounlsasrs customarily carried by owners and operators of similar properties or as Beneficiary may require for
<br />its protection. Truster will campiy with such other requirements as Beneficiary may fromti me to time request for the protection by insurance of the
<br />Interests of the respective.palties. All insurance policies maintained pursuant to this Trust Deed shall name Trust orand Beneficiary as insured, as
<br />their respective interests may appear, and provide that there be no cancellation or modification without at igrsJ: T s.rlaysprior written notificationto
<br />Trustee and Ben e} iciary may procure such insurance rn accordance wrth the provisions ofparagrap} ifi; r3ereut: 3` rt�stor shall deliver to Beneficiary
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<br />9 P' ofin5uranceandrenEwatsthereotormamacoiicsafsuchpoliciesandrene +tipt�it; ergo#. Failuretofurn {shruchinsurancehy
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<br />Truster, or rermtuvs as required hereunder shall, at the option Q010- neficiary, constitute a default.,
<br />5. TAXES, ASSESSMEX ItAND CHARGES. Trustarshall pay atl taxes, assessments and other charges, including, without limitation, fines
<br />and impositions attributab;e fv,. Ifie Property and leasehtiild payments or ground rents. if any. before the same become delinquent. Trustor shall
<br />promptlyfurnish tobeneficia: j all noticesefamounts due under this pategraph, andin the event Trt,Vor shall make payment directly, Truster shall
<br />promptly furnish to Beneficiary receipts e;r_dancing such paymonis- Ti.ustor shall pay all W"'_(s:and assessments which may be levied upon
<br />Beneficiary's interest herein or upon this trust Deed without re eiii fr an law that may be eniii :(i :d imposing g Y Y p g payment of the whole or any pan
<br />thereof upon the Beneficiary. • f
<br />6. ADDITIONAL LIENS *14D PROTECTION OF SEROFICIARY'S SECURITY. Truster shalt make all payments of interest and principal and
<br />payments of any other charges, fees and expenses contracted to be paid to any existing or subsequent lienholder or beneficiary, under any
<br />existing or suf;: reziuent mortgage or trust deed before the date they aiu delingent or in default, and promptly pay and discharge any and all other
<br />liens, claims or charges which may jeopardize the security granted ha uin.IfTrusterfails to make any such payment orfails to perform any of the
<br />covenants and agreements contained in this Trust Deed, orthe Note referredto herein, or in any prior or subsequenttrust deed, or if any action or _
<br />I proceeding is commenced which mate rial;y affects Beneficiary's interest m the Property, including, but not limited to. eminent domain proceed -
<br />ii ings, proceedings involving 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 Truster and
<br />without releasing Truster from any obligation hereunder, may make such appearances, disbursesuch sums and take such action as is necessary J
<br />to protect Beneficiary's interest, including,. but not limited to, disbursement of reasonable attorney's fees, 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 Doed. In the
<br />event that Truster shall tall ro pt ocure insurance or to pay- taxes, assessments. or any other Charges or to make any payments to any existing or
<br />w;bsequent lienholders eS r ?;x151 :ag or subsequent be+rcltr:iaries, Beneficrary may procure such insurance aid .Take such payment, out shall not
<br />it obligated to do so. Any ;mounts distiu ed by Bey uticlary pursuant to this Paragraph 6 shall become additional indebtedness of Truster
<br />secured by this Trust Deed. Such amounts shall be payable upon notice from Beneficiary to Tfivitar,requesting payment thereof, and shall bear
<br />interest from the date of disbuusement at the rate payable from time to time on outstanding prim; a► under the Note unless payment of interest at _
<br />such rate would be contrat)Vtuspplicable law, in which event such amounts shall lair ar interest at the highest rate permissible under applicable
<br />law. Nothing contained in (hilt Payagraph 6 shall require Beneficiary to incur any n1l;*nse or take any action hereunder.
<br />7. ASSIGNMENT OF RENTS. Benellu+ary shall have the fight, power and authority during the continuance of this Trust Deed to collect the
<br />rents, issues and profits of the Property turd of any personal properly located thereon with or without taking possession of the property affected
<br />hereby, and Truster hereby absolutely and unconditionally assigns all such rents, issues and prof its to Beneficiary. Beneficiary. however. hr -eby
<br />consentsto the Trustor's collection and retention of such rents, issues and profits nathey accrue and become payable so long as Trustor r,1 nct, at
<br />such time, in default with respect to payment of any indebtedness secured hereby, or in the performance of any, agreement hereunder Uran any
<br />such default. Beneficiary may at anytime. either in person, by agent, or by a receiver to be appointed by a court, without noticla aild +wiri r,+; a r•zyard
<br />to the adequacy of any security for the indebtedness hereby secured, (at enter upon and take possAnsion of the Property or any pa1^irth(J"e0 .and in
<br />its own name sue for or otherwise collect such rents, issues and profits, including those past due and unpaid. and apply the same. less costa and
<br />expenses of operation and collection, including reasonable attorney s fees. upon any indebtedness secured hereby, and in such, qt der as
<br />Beneficiary may determine; (b) part orm suchacls of repair or protection as may benece'ssaryor proper to conserve the value of the Prollo!ty: let
<br />lease the same or any part ittoreoffor such rental. term, and upon such conditions as its judgment may dictate, or for minale or adjust the tatres and
<br />i conditions of existing leases. Unless Truster 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 duo date of the installment payments as provided in said promissory note or
<br />change the amount of such installments. "the entering upon and taking pas session of the Properly. G,e collection of such rents. issues and profits.
<br />and the application thereof as aforesaid. shall not waive or Cure any default or notice of default hereunder or invalidate any act done pursuant to
<br />i suchnotice Truster also assigns to Beneficiary, as full thersecunty for the performance of the obligations secured hate by allprepaidrentsandall
<br />monies which may havebeen or may hereafter be deposited with said Truster 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. Truster agrees to deliver such rents and deposits to Benefrc,ary
<br />Delivery of written notice of Beneficiary s exercise of the rights granted herain. to any tenant occupying said premises shall be sufficient to require.
<br />said tenant to pay rent to the Beneficiary until further notice
<br />8- CONDEMNATION. It title to any part of the Property shall be taken in condemnation proceedings. by right of eminent domain or sirnrlar
<br />action, or shall be sold under threat olcondemnation, all awards. damages and proceeds are hereby assigned and shall tie paid to Senefirmr y
<br />who shall apply such Awards_ darnagea and pfoceeds!c Ift ;„iris socilree?, by tl'rry Trust Deed. with the excess. It any Para to lruiclor If Trash„ }
<br />receives any notice or other information regarding such actions or proceedings. Truster shall give prompt written notice thereof to 13enet-r.,.r y
<br />Beneficiary shall be entitled, at its option. to commence, appear in and prosecute in its own name any such ictron or pruceednuls , +nit sr a r r,.,
<br />entitled to make any compromise or settlement in connection with any such action or proceedings
<br />9 FUTURE ADVANCES. Upon request of Truster. Beneficiary at Beneficiary s option. pnur to reconveyunr� ottne Prcpreny rc, t ru�;i.r
<br />make future advances toTrustot Such future advances. W4hrrt10roMthpr eon. shall beseCUtedby this Trust. Deedwrienev . dPnrerlbyt,r
<br />notes stating that said notes are Socured hereby. provided that at nu limo shall they secureU prurcup(,l afid future advahr e5 1 of •C;t• , ,, „y
<br />advancoa to protect thq seCufq. oxceed two hundred percent 12(10 ".,t or trio otig!rial pt :rc,poi 7crwurils sc•cu {F +d t +t'rt't)r
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