202107664 - Laserfiche WebLink

Browse

2 0L1 77 6 6 4 5. Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or improvements now or hereafter on the property; to keep the property in good condition and repair, without waste and free from mechanics or other liens not expressly subordinated to the lien hereof; to not make, suffer or permit any nuisance to exist nor to diminish or impair the value of the property by any act or omission of act; and to comply with all requirements of law without respect to the property. 6. Condemnation. In the event the property, or any part thereof, shall be taken by eminent domain, Beneficiary is entitled to collect and receive all compensation which may be paid for any property taken or for damages to property not taken, and Beneficiary shall apply such compensation, at its option, either to a reduction of the indebtedness secured hereby or to repair and restore the property so taken . 7. Performance by Beneficiary. Beneficiary may, but shall have no obligation, to do any act which Trustor has agreed but failed to do, and Beneficiary may also do any act it deems necessary to protect the lien hereof. Trustor agrees to repay, upon demand, any sums so expended by Beneficiary for the above purposes, and any sum so expended by Beneficiary shall be added to the indebtedness secured hereby and become secured by the lien hereof. Beneficiary shall not incur any personal liability because of anything it may do or omit to do hereunder. 8. Assignment of Rents. Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to collect the rents, issues and profits of the property and of any personal property located thereon with or without taking possession of the property affected hereby, and Trustor hereby absolutely and unconditionally assign all such rents, issues and profits to Beneficiary. Beneficiary, however, hereby consents to Trustor's collection and retention of such rents, issues and profits as they accrue and become payable, so long as Trustor is not, at such time, in default with respect to payment of any indebtedness secured hereby or in the performance of any agreement hereunder. If any event of default described hereafter in respect to this Deed of trust shall have occurred and be continuing, Beneficiary, as a matter of right and without notice to Trustor or anyone claiming under Trustor, and without regard to the value of the trust estate or the interest of the Trustor therein, shall have the right to apply to any court having jurisdiction to appoint a receiver of the property. 9. Transfer of Property. If all or any part of the property or any interest of Trustor therein is sold, transferred or further encumbered without the express or written consent of Beneficiary, Beneficiary may, at its sole option, declare all sums secured by this Deed of Trust to be immediately due and payable and proceed to the remedies available to him under the default provisions contained therein. 3