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202305433
<br />provided, however, Trustor shall have the right to collect such rents, issues and profits (but not
<br />more than one (1) month in advance) prior to or at any time there is not an Event of Default
<br />under any of the Loan Instruments. This Assignment of the Rents, Issues and Profits of the
<br />Trust Estate is intended to be an absolute assignment from Trustor to Beneficiary and not
<br />merely the passing of a security interest. The rents, issues and profits are hereby assigned
<br />absolutely by Trustor to Beneficiary contingent only upon the occurrence of an Event of Default
<br />under any of the Loan Instruments.
<br />(b) Upon any Event of Default under any of the Loan Instruments, Beneficiary may,
<br />at any time without notice, either in person, by agent or by a receiver appointed by the court, and
<br />without regard to the adequacy of any security for the indebtedness hereby secured, enter upon
<br />and take possession of the Trust Estate, or any part thereof, in its own name sue for or
<br />otherwise collect such rents, issues, and profits, including those past due and unpaid, and apply
<br />the same, less costs and expenses of operation and collection, including attorneys' fees, upon
<br />any indebtedness secured hereby, and in such order as Beneficiary may determine. The
<br />collection of such rents, issues and profits, or entering upon and taking possession of the Trust
<br />Estate, or the application thereof as described above, shall not cure or waive any default or
<br />notice of default hereunder or invalidate any act done in response to such default or pursuant to
<br />such notice of default.
<br />16. EVENTS OF DEFAULT. Any of the following events shall be deemed an Event
<br />of Default under this Deed of Trust:
<br />(a) Trustor shall have failed to make payment of any installment of interest, principal,
<br />or principal and interest or any other sum secured by this Deed of Trust or required to be paid
<br />under the terms hereof when due;
<br />(b) There has occurred a breach of or default under any term, covenant, agreement,
<br />condition, provision, representation or warranty contained in any of the Loan Instruments;
<br />(c) Trustor shall have sold, transferred, conveyed, assigned or encumbered the Trust
<br />Estate or any part thereof or any interest therein, whether outright, by deed, land contract, lease
<br />with purchase option, mortgage, judgment, or otherwise, without- the prior written consent of
<br />Beneficiary-;
<br />(d) The warranty of title as made herein, or any other representation or warranty
<br />made by the Trustor in any financial statements or reports submitted to Beneficiary shall be
<br />breached, false or materially misleading; or
<br />(e) There has occurred a breach or default under any term, covenant, agreement,
<br />condition, provision, representation or warranty contained in any other Deed of Trust which is
<br />recorded against Real Estate.
<br />17. ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES. Should an Event
<br />of Default occur, Beneficiary may declare all indebtedness secured hereby to be immediately
<br />due and payable and the same shall thereupon become due and payable without any
<br />presentment, demand, protest or notice of any kind. Thereafter Beneficiary may:
<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or
<br />by a receiver appointed by a Court and without regard to the adequacy of its security, enter upon
<br />and take possession of the Trust Estate, or any part thereof, in its own name or in the name of
<br />Trustee, and do any acts which it deems necessary or desirable to preserve the value,
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