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<br /> . or obsolete, pcovided tl�at suci► personal properry is replaced with ather personat property nt leu�t cyuui in valuc to 1he
<br /> ' replaced personal �raperty. free from any dtte retention device, securit� agreement or ather cncumbrame. Such •
<br /> ' replacement of persoaal property will bc deemed subiat to the secudty lnterest crcated by thia ncrcl of Truet.7'n�stn�si�all
<br /> not partition or subdlvide the Property without Beneficiary's pdor wdtten cansent.Bencllcinry ur Hrneficlnry'h nBentn
<br /> � may, at Beneticlary's apdon,entcr the Property at any reasonable tlme for thc pueposc of ine�necting thc prapiny. Any ,,,.�
<br /> � inspection of the Property shall be entlrely fbr Beneficiary's beneflt and Trustor wlll in no way rcly �� Beneficinry'n
<br /> •• inspection. p�;:
<br /> 13.AITfHORITY TO PEItFO1tM.If Trustor faila to perform any of Truator's dutl�g undcr thie Ae��i ol'Truxt,ur any uther ��'
<br /> • �:.::�:�� mortgase.deed of tcust,aecudty a�reement or other Iten document tUat has prlodty over this Deed af Ttunt, penctl�inty
<br /> ' " ., may.withaut notice,pedorm the duties or cause them to be parFormed. Trustor appofnts Heneflclury as attarncy 1n fncl tU ;;.��
<br /> sign Trustor's nnme or p�Y any amount necessary for perfornianca. If any conauuceion on thQ Prop�ny ie di��u�raNntte�D c►r
<br /> nat carried oa 9n a reasonam'�e manner,Beneficlary may do whAtever ia necessary to ptotect Benaftcli►ry's secu�lty Intetr.et _
<br /> .� in the Property.'I't�is may include campleting the consm.�ctiw►. v
<br /> �;--..:�
<br /> Bencflciary's rl�c lo perfarm for Trustor shall not create an obligadon to perform.and Beneficiury's f'ailurc tu perP��rm �:.��
<br /> wlll not pre�lu e �ieneticlaxy from exereising any of Beneficiary's other dghta under�he luw or thiR Decd af Trust. Any �;RT_°.r
<br /> � ' tunounts paid by Beneficlary for insuring, preserving or otherwise protecting the Property ond Hen�ticinry's Recutlty �
<br /> � lnterest will be due ott demand and wUl bear intr,rest from the date of the paytnent uadl paid in full at the ltlterest roto in �+.':-
<br /> � effect from tlme to time according to the terms of the Bvidence of Debt. �.
<br /> 14.AS9IGNM�NT�OF LEA�FS AND RENTS.Trustor irrevocably grants, �nveys aad seits as addltiunul secuciry ali the ��;
<br /> ,. right,title and intetest ia and to any und all:
<br /> , ,,,,,,., A. Exlsting or future lcases,subleases,licenses.guarenties and any other wdtten or verbal agreements for the use mld .
<br /> ,!,?;,; ,� occupency of any ponion of the Property. ncluding any extensions. rcnewals, modificationa or substitutions of
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<br /> �;r'.� such agceernenta(eD7 rcferrod toas"Let�ses��). _-..
<br /> B. Rents, iastace and proflts(all refened to as Renta'), including but not Iimit�d to security deposits.minimum rent. t;^-.•
<br /> � percentage rent,addittanal rent. common„area matntenaace charges, parlclpg ebargea. renl estate texes, other �[--=
<br /> applicsble tues,insurance premium conuibudona, liquidated dama�es followlag default, cencsllation pmmium9, �._
<br /> " �� � "loss of renu" insurance,revenues,royalties,proceeds,bonus�s.end all rlghte and claims which Truetor may have �:_
<br /> that in any way pertaias to or ls oa account of the use or occupancy of the whole or any part of the Property.
<br /> - �` Trustor wiU prompdy provide Heneflcian�with true and correct copies of all exisUa� end thture I.easea. Trustor may
<br /> ° �ftr�t, ;t�ivc,c:�jay �e! t�»e ih:P.e��^lor.g�'lh�stor ia not in default. Tmstor�vlll not collect in advance any Renta
<br /> • ""3� due in future lease periads,unless'Il�usfar first obtains Benefictary's wdtten consent,Upon default,Trustor�vilt receivo _
<br /> .'' , any Rents in truat tor Beneficiary aad T{uaror will not commingle the Rents wtth�ty other flinds. Any nmounta wllected
<br /> ; �"�``;`;; �, shall be applied at 9encfic9ary's discretton to payments on tbe 5ecured Debt as thereln provided,to coats of managing tha i
<br /> ,�;�4,�i:, ..,• Property, including,but not limfted to. all tsaes. ess�ssments, insurance premlume�repaire. aad commiseions to rental
<br /> ¢" agente,aad to any othesrn�cessary relaw�d expenses includin�Beneficiary's attomeys'fees.paralegal feea ond caurt coate.
<br /> . �� Tn►stor acknowledges �4at il►is aseignment is perfecteti upon the recording of this Dced of Trust and that Beneflciaryr la --
<br /> entitled to notify any of TNStor's tenss►ts to make payment of renta duc or to baome due to Heneticiary. Howevcr.
<br /> Beneticiary Agrees ihut only on default wlll Beneficts�ry notify Truator and Tcustor's tenants and malce demand tYiat all
<br /> " fitture Rents be pafd directiy to BeneY3ciary. On receivfng the notice of default.Trusror wiil endurse nad dellver t.o �
<br /> Beneficiary any paymeda of Rent in'nustor's possesston.
<br /> � Trustor covennnts thut no default exieta under the Y.eases or any applicable landlord law. Trustor also wvenonts s�ttd agm�s
<br /> ; � to maintuin. aad to requtre the tenants to comply with,the Leases and any applicable law. Trustor will prompdy notify
<br /> �L. ;";::� � Beneficinry of any noa�corm liance. If'IYustor neglecu ar refnses to enforce compliance with the terms of the l.eases, then _
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<br /> -. .... Beneflcisry may, at &n�ir,izry's optioa, enforce oampliance. Trustor will obtatn Beaeficiary's wdtten authorization
<br /> befora Ttuawr consente to sublet, modify, cancel. or otherwlse alter the Ixases, to accept the sunender of the Property
<br />_ �� covered by such Lcnsa(unless the Leases so requite).or to avsi�n, compromise or encumber the Leasea or any tl�ture
<br /> � �� Rents. Tmetor wilt hdd Beneflciary hannless end indemnify Beneficiary for any and all lfability. lose or damage thut
<br />= Hessaeficinry may nncur as a consequence of the assignment under thls sectton. _--
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<br /> • ' � 15.(:UNUUMIN1Ut�i5; PLa�Ni<I�D Y�'Yr'YT DL'4'�Y.OI'i��'�"T�. if tli� fi�perty irscludes a vnit in :� c•n�lomfnl�m o* a f__•_.
<br />_ � planned unit developraent�Trustor wili perform all of Trostor's dudes under the covenante.by-IAWB,or c�egulattoas of the
<br />- �� ,. � • condominlum or plenned uNt devedopm�t.
<br />� : :�:.;. 16.DEICAULT.Tr�smr wlll be in defnult if any of the following occnr:
<br /> '`�''���; A. Any pwcy obligat�al om tAe Secured Debt faila to make payment when due;
<br /> ���t;;v�n; ,� g. A breach of any twrm�r covenant!n this Deed of Trust, uny prior mortgage or any wnstruction lotin agree�nent. _
<br /> • . security�greerneas or any oth�r dociunent evidencing, guarantyint;, securing or otherwise relating to We Secured �
<br /> • Debt;
<br /> � C, The mekf ng or turniehing of any verbal or wdtten represcntatlnn,statement or warranty to Beneticinry thnt ie fnlse
<br /> ' � or 9ncorrc:ct in any matrri�t nsp�ct by Trustor or any person or enttty obti�ated on the Secuced Debt;
<br /> « ' Tha death dissolwtlom. iniraent of a receiver for, or npplicatioa of any debtor mlief law to.Trustor or t+ny �.��.
<br /> D. , �F'Po
<br /> person o� entity o'b]lgated on th�Secumd Debt; �f;:,
<br /> B. A $aod f alth belisf by 9enzficlary at any time that Beneficiary iR insecure�vith respoct to any person or entiry �-_
<br /> oblygated on the 5�c,vrrd Debt or t�at thc prospect of any payment ta impaized or tho Froporty is Impaimd; ��_:
<br /> - - _—_�� :. ::�:�::�Y;��w�;;p���;,o��r+����e}„�a t�rin�iina�wnerahin,manaQemt�r►t,and finaacial conditions.tvhich �fi•
<br /> 8enet3clasy fa its�pinion believes impairs the value of the Property or repayment of tho 5ecured Debt;or
<br /> n .....�.,e» ,,.,,,..��o.P,��,..� r�r n�n�„�e chn� wiu contribut�to excessfve erosion of highly erodible It;nd or to the �,_�
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