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200400401 <br />procure any further necessary assurances of title and does hereby warrant generally the title to <br />said Property and will forever defend the same against the claims- and demands of all persons <br />whomsoever, and that Trustor's separate estate, whether vested, contingent or in expectancy, is <br />hereby conveyed and Trustor does hereby expressly waive, release all rights and benefits of any <br />homestead, dower, courtesy, appraisement, exemption and stay laws of this state. It is agreed that <br />the 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 <br />sell, transfer or convey or contract to sell, transfer or convey the Property, or any part thereof or <br />any 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 <br />in writing that the credit of such person is satisfactory to Beneficiary and that the interest payable <br />on 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 <br />agrees that Beneficiary shall and does hereby have the right, power and authority during the <br />continuance of this Deed of Trust to collect the rents, issues and profits of the Property and of <br />any personal property located thereon with or without taking possession of the property affected <br />thereby; and Trustor hereby absolutely and unconditionally assigns all such rents, issues and <br />profits to Beneficiary. Beneficiary, however, hereby consents to Trustor's collection and <br />retention of such rents, issues and profits as they accrue and become payable so long as Trustor is <br />not at such time in default with respect to payment of any indebtedness secured hereby or in the <br />performance of any agreement hereunder. Upon any such default, Beneficiary may at any time, <br />either in person, by agent, or by receiver to be appointed by a court, without notice and without <br />regard to the adequacy of any security for the indebtedness hereby secured (a) enter upon and <br />take possession of the Property or any part thereof and in its own name sue for or otherwise <br />collect such rents, issues and profits, including those past due and unpaid, and apply the same, <br />less costs and expenses of operation and collection, including reasonable attorney's fees, upon <br />any indebtedness secured hereby and in such order as Beneficiary may determine; (b) lease the <br />same or any part thereof for such rental, term and upon such conditions as Beneficiary's <br />judgment may dictate or terminate or adjust the terms and conditions of any existing lease or <br />leases. Unless Trustor and Beneficiary agree otherwise in writing, any application of rents, issues <br />or profits to any indebtedness secured hereby shall not extend or postpone the due date of the <br />installment payments as provided in the Note or change the amount of such installments. The <br />entering upon and taking possession of the Property, the collection of such rents, issues and <br />profits, and the application thereof as aforesaid, shall not waive or cure any default or notice of <br />default hereunder, or invalidate any act done pursuant to such notice. Trustor assigns to <br />Beneficiary, as further security for the performance of the indebtedness and obligations secured <br />hereby, all prepaid rents and all moneys which may have been or may hereafter be deposited with <br />Trustor by any lessee of the Property, to secure the payment of any rent or damages, and upon <br />default in the performance of any of the provisions hereof, Trustor agrees to deliver such rents <br />and deposits to Beneficiary. Delivery of written notice of Beneficiary's exercise of the rights <br />granted by this paragraph THIRD to any tenant occupying the Property or any portion thereof <br />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, <br />at the option of the Beneficiary, become due and payable. <br />FIFTH. Upon default by Trustor in the payment of or performance of the terms and <br />conditions of the Note, or any renewals, modifications or executions thereof, the payment of any <br />other indebtedness secured hereby or in the performance of any agreement, covenant or warranty <br />herein contained or set forth in any agreement or instrument executed by Trustor in connection <br />with the indebtedness hereby secured, Beneficiary may declare all sums secured hereby <br />immediately due and payable and the same shall thereupon become due and payable without <br />presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may deliver to <br />Trustee a written declaration of default and demand for sale. Trustee shall have the power of sale <br />of the Property and if Beneficiary decides the Property is to be sold, it shall deposit with Trustee <br />this Deed of Trust and the Note or notes and any other documents evidencing expenditures <br />secured hereby, and shall deliver to Trustee a written notice of default and election to cause the <br />Property to be sold, and Trustee, in turn, shall prepare a similar notice in the form required by <br />law, which shall be duly filed for record by Trustee. <br />-3- <br />