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<br />90- 406801
<br />the Property is so taken or damaged, Lender shall have the option, in its sole and absolute discretion, to apply all such Proceed%
<br />after deducting therefrom all costs and expenses incurred by It tl all such Proceeds ch such Proceeds, upon any
<br />t0 thef restoration ri secured 1 t
<br />hereby and In such under io Lender may determine, or to apply application of Proceeds to indebtedness shall not extend or postpone
<br />Properly upon such conditions a9 Lender may determine. Any
<br />the due date of any payments under tho Note, or cure any default thereunder or hereunder. Any unapplied funds shall be paid to
<br />Trustor.
<br />e. Partormance by Lender. Upon the occurrence of an Event of Default bereunder, or if any act is taken or legal procoading
<br />commenced which materially affects Lender's Interest in the Property. Lender 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 security hereof. Trustor shall, immediately
<br />upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with
<br />the exercise by Lender of the foregoing rights, together with interest thereon at the default rate provided in the Note, which shall be
<br />added to the indebtedness secured hereby. Lender shall not incur any liability because of anything it may do or omit to do
<br />hereunder.
<br />9. Hazardous Materials. Trustor shall keep the Property in compliance with all applicable laws, ordinances and regulations
<br />relating to industrial hygiene or 6nv1ronme^t--1 protection (collectively referred to herein as "Environmental Laws'). Trustor shall
<br />keep the Property free from all substancr:s.deelred to be hazardous or toxic under any Environmental Laws (collectively refer red to
<br />herein as "Hazardous Materialu'9• rn;: t'.r I -eceby warrants and represents to Lender that there are no Hazardous Materials on or
<br />under the Property. Trustor and d,ord harmless Lender, its directors, officers, employees and agents, and
<br />any successors to Lender's IntprutW, `m:1 ti3 against a, ry, arj all claims, damages, losses and liabilities arising in connection with
<br />the presence, use, disposal or transp6r! i any Hat:ardc.-.:- lVateriars on, under, from or about the Property. THE FOREGOING
<br />WARRANTIES AND REPRESENTATIONS, AND TRUSTO R; s 013Ltu'/r.TlCKS PURSUANT TO THE FOREGOING INDEMNITY, SHALL
<br />SURVIVE RECONVEYANCE OF THiS DEED OF TRUST. '
<br />10, Assignment of Rents, Trustor hereby assigns to rear' •-*saes and profits of the Property: provided. shat Trustor
<br />shall, until the occurrence a1 wi Event of Default hereunoe* na• Vie r,glac as ,:u11ecL?,hd retain such rents, issues anrJ, rry ?fits as t!ley
<br />become due and payable. Upcn the occurrence of an Evt-Y: of Defau!:. Uimder ?r•ari,:rfi ?4r in person or by ager''l- wit' -,out
<br />bringing any action or praoee'!ng, or by a receiver appol•;'ra by a court ar S'a *'� „� Ij ^:r ar'd to the adequacy ot;��e i rif s, ern"v
<br />upon and take possCssicrr.�fr •f "e Property, Or any part thereol, in its own. rnatre 01' rn'o^e r'•a" e of the Trustee, and do �rx a: "s � 1�,. � is
<br />deemsnec stfry,:r lea`na71�`. cal ?preServa" ' value. marketability orre-iiabiliti atr�1aPrc�ariy, or any part thereof or .r ^re?as"t'wa:arr,
<br />increase the iaeime t!� efr. *rr r ported: ine security hereof and, 5w ;` ++r .�uz takeg possession of the Prepe+'!it: sus tqi cr,
<br />otherwise collect the rents -*size and gv -asts thereof, including thosa;pas: sue a aa - epaid, and apply the same_ less costs arto
<br />expenses of operation and collection inelgsl:ng attorneys 5-es. upon any ►ndebtedn• ?w-, secured hereby, all in suctr crTter as Lender
<br />may determine. The entering upon and 131:rng possess10^ of the Property, the collection of such rents, issues and profits and the
<br />application thereof as aforesaid, shall mflt'7asP or waive any default or notice of default hereunder or invalidate any act done in
<br />response to such default or pursuant ta surr n: ice of default and, notwithstanding the continuance in possession of the Property or
<br />li ^e collection, receipt and application of rents, issues c� profits, and Trustee and Lender shall be entitled to exercise every right
<br />pr+avided for In any of the Loam 1,r*1ruments or by law vs,a'r occurrence of any Event of Default, including without timifation the right
<br />I.%, . exercise the power of s4ie Fu;oher. Lender's rights and remedies under this paragraah shall be cumulative w& and in no way a
<br />limitation on, Lender's rights ary,,,! remedies under any assignment of leases and rents recorded against the Propery :.Minder, Trustee
<br />and the receiver shall be baVia ,o account only for those rents actually received.
<br />11. Events of DefauR. Tile Faitowing shall constitute an Event of Delautt under tris Deed of Trust
<br />(a) Fa; ure to pay an.14 installment of principal or interest of anti oipe7 sum secured hereby when due:
<br />(b) A breach of or ger3:,it under any provision contained in the Note, this Deed of Trust, any of the Loan Instrumenta ov a^ f.:
<br />other lien ur eneurnbranca upon the Property;
<br />(c) A writ of execution or attachment or any similar process shall be entered against Trustor which shall become a lien on
<br />the Property or any portion thereof or interest therein:
<br />(d) There shall be filed by or agz rst Trustor or Borrower an action under any present or future federal, state or ob'rrdr
<br />statute, law or regulation relating to a3 ^.�!uptcy, insolvency or other relief for debtors: or there shall be appointed any trustee.
<br />receiver or liquidator of Trustor or Borrower or of all or any part of the Property, or the rents. issues or profits thereof, or Trwza.r
<br />or Borrower shall make any general assignment ?z -%e benefit of creditors:
<br />(e) The sale, trap"., lease, assignment, coma kence or further encumbrarce of all or any part of or any ;rarest in the
<br />Property. either vot!4? .arty or involuntarily, without: 11-e express written cor%s,�-i: of Lender; provided that Tru -var shall be
<br />permitted t[a execute a )ease of the Property that does not contain an option to p:.r•:hase and the term of which does not exceed
<br />one year
<br />(f) /Abardorc en', of the Property: or
<br />(g) it'Trus ;or is r rot an individual, the issuance. sale, transfer, assignment ccrr- A eyance or encumbrance of more than a total
<br />of percent of (i1 a corporation) its issued and outstanding stock or vita partnership) a total of percent of
<br />partnership interests during the period this Deed of Trust remains a lien on the Property.
<br />12. Remedies; Acceleration Upon Ce'ault. In the event of any Event of Default Lender may, w -timut notice except as required by
<br />raw, declare all indebtedness secured Nereby to be due and payable and the same shall thereupon become due and payable
<br />without any presentment, demand, protest or notice ct any kind. Thereafter Lender rrsay:
<br />(a) Demand tfi &4 Trr tee exercise the POVOER OF SALE granted herein...a.►nd Trustee shall thereajbf ,- cause Trustor's
<br />interest in the Propery, t:o•be sold and the proceeds to be distributed, all in the manner provided in the R I P. -aaka Trust Deeds
<br />Act
<br />(b). F- xercL^e Mr: f.rid all rights provided for in any of the Loan Instruments or by law upon occurrence• of any Event of
<br />Default: a►Td ”
<br />(c)' Cam marce an.actfon to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically. crlt2fee any of the
<br />covenants hereof:
<br />No remedy herein conferred upon or reserved to Trustee or Lender is intended to be exclusive of any other rerrtr ?dy. herein, in the
<br />Loan Instruments or by few provided or permitted, but each shall be cumulative, shall be in addition 0 •every o!1tr_r remedy green
<br />hereunder, in the Loan Instruments or nova. or hereafter existing at law or in equity or by statute, and may, be exercised concurrently,
<br />Independently or successively.
<br />13. Trustee. The Trustee may resign at any time without cause, and Lender may at any tdnie•rand wiffiaW cause appoint a
<br />successor or substitute Trustee. Trustee shall not be liable to any party. including without limitation Lender, 30rrower. Trustor or any
<br />purchaser of the Property, for any loss or damage unless due to reckless or willful misconduct. and snarl not be i equ,red to take any
<br />action in connection with the enforcement of this Deed of Trust unless indemnified, in writing. for an costs, compensation or
<br />expenses which may be associated under the power of sale granted eremp postpone trhe sale uof all oar any portion pof the Property, aslp provided by law; or sell the
<br />Property as a whole. or in separate parcels or !ots at Trustee s discretion.
<br />14. Fen and Expenses. in the event Trustee sells the Property by exercise of power of lade, Trustee shall e entitled app's
<br />any sate proceeds first to payment of all costs and expenses of exercising power of sate. including all Trustee's fees. and Le
<br />and Trustee's attorney's tees. actually incurred to extent permitted by applicable law. In the event Borrower or Trustor exercises any
<br />right provided by law to cure an Event of Defailt. Lender shall be entitled to recover f•om Trustor all costs and expenses actually
<br />incurred as a result of Trustor's default, including without limitation all Trustees and attorney's fees. to the extent permitted by
<br />applicable law.
<br />15. Future Advances. Upon request of Borrower. Lender may. at its option, make add'tronal and future advances and re-
<br />advances to Borrower. Sucn advances and readvarces. with interest thereon. Shan be secured by this Deed of Trust. At no time shall
<br />the principal amount of the indebtedness secured by n s Deed of Trust, not including sums advanced to protect the security of this
<br />Deed of trust, exceed the original principal amount stated herein. or Ste- -- whichever is greater.
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