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200010492
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Last modified
10/13/2011 10:22:11 PM
Creation date
10/20/2005 10:31:11 PM
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DEEDS
Inst Number
200010492
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;I p D®le X92 20 <br />condition with respect to the Trust Property set forth in <br />this Deed of Trust or the Credit Agreement, Beneficiary may <br />pay, perform or observe the same, and all payments made or <br />costs or expenses incurred by Beneficiary in connection <br />therewith shall be secured hereby and shall be, without <br />demand, immediately repaid by Grantor to Beneficiary with <br />interest thereon at the Default Rate. Beneficiary shall be <br />the judge of the necessity for any such actions and of the <br />amounts to be'paid. Subject to the notice provisions of the <br />first sentence of this paragraph 2.04, Beneficiary is hereby <br />empowered to enter and to authorize others to enter upon the <br />Premises or the Improvements or any part thereof for the <br />purpose of performing or observing any such defaulted term, <br />covenant or condition without having any obligation to so <br />perform or observe and without thereby becoming liable to <br />Grantor, to any person in possession holding under Grantor <br />or to any other person. <br />SECTION 2.05. Right to a Receiver. If an Event <br />of Default shall occur and be continuing, Beneficiary or <br />Trustee, upon application to a court of competent <br />jurisdiction, shall be entitled as a matter of right to the <br />appointment of a receiver to take possession of and to <br />operate the Trust Property and to collect and apply the <br />Rents. The receiver shall have all of the rights and powers <br />permitted under the laws of the state wherein the Trust <br />Property is located. Grantor will pay to Beneficiary or <br />Trustee upon demand all expenses, including receiver's fees, <br />attorney's fees and disbursements, costs and agent's <br />compensation incurred pursuant to the provisions of this <br />Section 2.05; and all such expenses shall be secured by this <br />Deed of Trust and shall be, without demand, immediately <br />repaid by Grantor to Beneficiary or Trustee with interest <br />thereon at the Default Rate. <br />SECTION 2.06. Foreclosure and Sale. (a) If an <br />Event of Default shall occur and be continuing, Beneficiary <br />may elect to sell the Trust Property or any part of the <br />Trust Property by exercise of the power of foreclosure or of <br />sale granted to Trustee and /or Beneficiary by applicable law <br />or this Deed of Trust, including advertisement and sale. In <br />such case, Trustee may commence a civil action to foreclose <br />this Deed of Trust, or it may proceed and sell the Trust <br />Property to satisfy any Secured Obligation. Trustee or an <br />officer appointed by a judgment of foreclosure to sell the <br />Trust Property may sell all or such parts of the Trust <br />Property as may be chosen by Trustee or Beneficiary at the <br />time and place of sale fixed by it in a notice of sale, <br />either as a whole or in separate lots, parcels or items as <br />Trustee or Beneficiary shall deem expedient, and in such <br />order as it may determine, at public auction to the highest <br />[NYCorp; 1105401 .3:DPCO2:11 /11 /00- 12:05a] (Hall County) <br />
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