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200400410
<br />7. Protection of Beneficiary's Security. Should Trustor fail to make any payment, fail to do any act as herein provided, or if any
<br />action or proceedings is commenced which materially affects Beneficiary's interest in the Property, including, but not limited to, eminent
<br />domain, insolvency, arrangements or proceedings involving a bankrupt or decedent, then Beneficiary or Trustee, but without obligation to do so,
<br />and without notice to or demand upon Trustor, and without releasing Trustor from any obligation hereunder, may make or do the same, and
<br />may pay, purchase, contest or compromise any encumbrance, charge or lien, which in the judgment of either appears to affect said Property; in
<br />exercising any such powers the Beneficiary or Trustee may incur any liability and expend whatever amounts, including disbursements of
<br />reasonable attorney's fees, which in their absolute discretion, may be necessary. In the event that Trustor shall fail to procure insurance or to
<br />pay taxes and special assessments or to make any payments to existing or prior lien holders or beneficiaries, the Beneficiary may procure such
<br />insurance and make such payments. All sums incurred or expended by Beneficiary or Trustee in accordance with the provisions of this Trust
<br />Deed are secured hereby and, without demand, shall be immediately due and payable by Trustor and shall bear interest at the maximum
<br />allowable legal rate; provided, however, that at the option of Beneficiary or Trustee such sums may be added to the principal balance of any
<br />indebtedness secured hereby and shall bear the same interest as such indebtedness and shall be payable ratably over the remaining term
<br />thereof.
<br />S. Assignment of Rents. Beneficiary shall have the right, power and authority during the continuance of this Trust Deed to collect the
<br />rents, issues and profits of the Property and of any personal property located thereon with or without taking possession of the property affected
<br />hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary. Beneficiary, however,
<br />hereby consents to the Trustor's collection and retention of such rents, issues and profits as they accrue and become payable so long as
<br />Trustor is not, at such times, in default with respect to payment to 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 a receiver to be appointed by a court, without
<br />notice and without regard to the adequacy of any security for the indebtedness hereby secured, (a) enter upon and take possession of the
<br />Property or any part thereof, and in its own name sue for or otherwise collect such rents, issues and profits, including those past due and
<br />unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorney fees, upon any indebtedness
<br />secured hereby, and in such order as Beneficiary may determine; (b) perform such acts of repair or protection as may be necessary or proper
<br />to conserve the value of the Property; (c) lease the same or any part thereof for such rental, term, and upon such conditions as its judgment
<br />may dictate. Unless Trustor and Beneficiary agree otherwise in writing, any application of rents, issues or profits to any indebtedness secured
<br />hereby shall not extend or postpone the due date of the payments provided in the Loan Document or change the amount of such payments. The
<br />entering upon and taking possession of the Property, the collection of such rents, issues and profits, and the application thereof as aforesaid,
<br />shall not waive or cure any default or notice of default hereunder, or invalidate any act done pursuant to such notice. Trustor also assigns to
<br />Beneficiary, as further security for the performance of the obligations secured hereby, all prepaid rents and all monies which may have been or
<br />may hereafter be deposited with said Trustor by any lessee of the Property, to secure the payment of any rent, and upon default in the
<br />performance of any of the provisions hereof, Trustor agrees to deliver such rents and deposits to the Beneficiary. Delivery of written notice of
<br />Beneficiary's exercise of the rights granted herein, to any tenant occupying said premises shall be sufficient to require said tenant to pay said
<br />rent to the Beneficiary until further notice.
<br />9. Condemnation. If title to any part of the Property shall be taken in condemnation proceedings, by right of eminent domain or similar
<br />action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to Beneficiary
<br />who shall apply such award, damages and proceeds to the sums secured by the Trust Deed, with the excess, if any, paid to the Trustor.
<br />10. Future Advances. Upon request of Trustor, Beneficiary, at Beneficiary's option, prior to reconveyance of the Property to the Trustor,
<br />may make future advances to the Trustor. Such future advances, with interest thereon, shall be secured by this Trust Deed; provided that at no
<br />time shall the secured principal, future advances, not including sums advanced to protect the security, exceed one hundred percent (100 %) of
<br />the original principal amounts secured hereby.
<br />11. Remedies Cumulative. All remedies provided in this Trust Deed are distinct and cumulative to any other right or remedy under this
<br />Trust Deed or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />12. Acceleration; Remedies; Sale. Upon default by Trustor in the payment of any indebtedness secured hereby or in the performance
<br />of any agreement hereunder, Beneficiary may declare all sums secured hereby immediately due and payable by delivery to Trustee of written
<br />declaration of default. The Trustee shall have the power of sale of the Property and if Beneficiary desires the Property to be sold, it shall
<br />deposit with Trustee this Trust Deed and all documents evidencing expenditures secured hereby, and shall deliver to Trustee a written notice of
<br />default and election to cause the Property to be sold, and the Trustee in turn shall prepare a similar Notice in the form required by law, which
<br />shall be duly filed for record by Trustee.
<br />(a) After the lapse of such time as may be required by law following the recordation of said notice of default, and notice of default and
<br />notice of sale having been given as required by law, Trustee, without demand on Trustor, shall sell the Property on the date and at the
<br />time and place designated in said notice of sale, at public auction to the highest bidder, the purchase price payable in lawful money of
<br />the United States at the time of sale. The person conducting the sale may, for any cause he deems expedient, postpone the sale
<br />from time to time until it shall be completed and, in every such case, notice of postponement shall be given by public declaration
<br />thereof by such person at the time and place last appointed for the sale; provided, if the sale is postponed for longer than one (1) day
<br />beyond the day designated in the notice of sale, notice thereof shall be given in the same manner as the original notice of sale.
<br />Trustee shall execute and deliver to the purchaser its Deed conveying the Property so sold, but without any covenant or warranty,
<br />express or implied. The recitals in the Deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person,
<br />including Beneficiary, may purchase at the sale.
<br />(b) When Trustee sells pursuant to the powers herein, the Trustee shall apply the proceeds of the sale to payment of the costs and
<br />expenses of exercising the power of sale and of the sale.
<br />(c) After paying the items specified in subparagraph (b) if the sale is by Trustee, or the proper court and other costs of foreclosure and
<br />sale if the sale is pursuant to judicial foreclosure, the proceeds of sale shall be applied in the order stated to the payment of:
<br />(i) Cost of any evidence of title procured in connection with such sale and of any revenue stamps;
<br />(ii) All sums then secured hereby;
<br />(iii) Junior trust deeds, mortgages or other lienholders;
<br />(iv) The balance, if any, to the person(s) legally entitled thereto.
<br />13. Duties and Obligations of Trustee. (a) The duties and obligations of Trustee shall be determined solely by the express provisions of
<br />this Trust Deed and Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth herein, and
<br />no implied covenants or obligations shall be imposed upon Trustee; (b) No provisions of this Trust deed shall require Trustee to expend or risk
<br />its own funds, or otherwise incur any financial obligation in the performance of any of its duties hereunder, or in the exercise of any of its right or
<br />powers, if it shall have grounds for believing that the repayment of such funds or adequate indemnity against such risk or liability is not
<br />reasonably assured to it: (c) Trustee may consult with counsel of its own choosing and the advice of such counsel shall be full and complete
<br />authorization and protection in the respect of any action taken or suffered by it hereunder in good faith and reliance thereon; (d) Trustee shall
<br />not be liable for any action taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights of powers
<br />conferred upon it by this Trust Deed.
<br />14. Additional Security Instruments. Trustor, at its expense, will execute and deliver to the Trustee, promptly upon demand, such
<br />security instruments as may be required by Trustee, in form and substance satisfactory to Trustee, covering any of the Property conveyed by
<br />this Trust Deed, which security instruments shall be additional security for Trustor's faithful performance of all of the terms, covenants and
<br />conditions of this Trust Deed, the Loan Document secured hereby, and any other security instruments executed in connection with this
<br />transaction. Such instruments shall be recorded or filed, and re- recorded and refiled, at Trustor's expense.
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