|
202110734
<br />hereby conveyed and Trustor does hereby expressly waive, release all rights and benefits of any
<br />homestead, dower, curtesy, appraisement, exemption and stay laws of this state. It is agreed that the
<br />interest provided for in subsection (g) above shall be at the same rate as specified in the Note
<br />secured hereby on the principal thereof after default and maturity.
<br />SECOND. In the event Trustor, without the prior written consent of Beneficiary, shall sell,
<br />transfer or convey or contract to sell, transfer or convey the Property, or any part thereof or any
<br />interest therein, the entire balance of the indebtedness hereby secured shall become and be
<br />immediately due and payable at the option of Beneficiary; provided, however, Beneficiary may
<br />waive such option to accelerate if, prior to such sale, transfer or conveyance or contract therefor,
<br />Beneficiary and the person to whom the property is to be sold or transferred reach an agreement in
<br />writing that the credit of such person is satisfactory to Beneficiary and that the interest payable on
<br />the sums secured by this Deed of Trust shall be at such rate as Beneficiary shall request.
<br />THIRD. That as further security for the payment of the Note and the indebtedness thereby
<br />evidenced and the performance of all of the terms, covenants and conditions hereof, Trustor agrees
<br />that Beneficiary shall and does hereby have the right, power and authority during the continuance of
<br />this Deed of Trust to collect the rents, issues and profits of the Property and of any personal property
<br />located thereon with or without taking possession of the property affected thereby; and Trustor
<br />hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary.
<br />Beneficiary, however, hereby consents to Trustor's collection and retention of such rents, issues and
<br />profits as they accrue and become payable so long as Trustor is not at such time in default with
<br />respect to payment of any indebtedness secured hereby or in the performance of any agreement
<br />hereunder. Upon any such default, Beneficiary may at any time, either in person, by agent, or by
<br />receiver to be appointed by a court, without notice and without regard to the adequacy of any
<br />security for the indebtedness hereby secured (a) enter upon and take possession of the Property or
<br />any part thereof and in its own name sue for or otherwise collect such rents, issues and profits,
<br />including those past due and unpaid, and apply the same, less costs and expenses of operation and
<br />collection, including reasonable attorney's fees, upon any indebtedness secured hereby and in such
<br />order as Beneficiary may determine; (b) lease the same or any part thereof for such rental, term and
<br />upon such conditions as Beneficiary's judgment may dictate or terminate or adjust the terms and
<br />conditions of any existing lease or leases. Unless Trustor and Beneficiary agree otherwise in
<br />writing, any application of rents, issues or profits to any indebtedness secured hereby shall not
<br />extend or postpone the due date of the installment payments as provided in the Note or change the
<br />amount of such installments. The entering upon and taking possession of the Property, the
<br />collection of such rents, issues and profits, and the application thereof as aforesaid, shall not waive
<br />or cure any default or notice of default hereunder, or invalidate any act done pursuant to such notice.
<br />Trustor assigns to Beneficiary, as further security for the performance of the indebtedness and
<br />obligations secured hereby, all prepaid rents and all moneys which may have been or may hereafter
<br />be deposited with Trustor by any lessee of the Property, to secure the payment of any rent or
<br />damages, and upon default in the performance of any of the provisions hereof, Trustor agrees to
<br />deliver such rents and deposits to Beneficiary. Delivery of written notice of Beneficiary's exercise
<br />of the rights granted by this paragraph THIRD to any tenant occupying the Property or any portion
<br />thereof shall be sufficient to require said tenant to pay said rent to Beneficiary until further notice.
<br />FOURTH. If there shall be filed by or against the Trustor any petition or proceeding
<br />seeking any arrangement or composition or extension of any other relief under or pursuant to the
<br />Federal Bankruptcy Code or any other similar statute as is now or hereafter in effect, or if the
<br />Trustor shall be adjudicated bankrupt or insolvent or any of Trustor's property shall have been
<br />sequestered and such decree shall have continued undischarged and unstayed for 90 days after the
<br />entry thereof, then the whole of the Note and indebtedness hereby secured shall, without notice, at
<br />
|