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202403733
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Last modified
8/7/2024 2:44:31 PM
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8/7/2024 2:44:30 PM
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DEEDS
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202403733
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202403733 <br />appoint a receiver of the property. <br />9. Transfer of Property. If all or any part of the property or any interest of Trustor <br />therein is sold, transferred or further encumbered without the express or written consent of <br />Beneficiary, Beneficiary may, at its sole option, declare all sums secured by this Deed of Trust to <br />be immediately due and payable and proceed to the remedies available to it under the default <br />provisions contained therein. <br />10. Events of Default. Any of the following events shall be deemed an event of default <br />hereunder: <br />(a) Trustor shall have failed to make payment of any installment of <br />interest, principal or principal and interest or any other sums secured hereby when <br />due; <br />(b) There has occurred a breach of or default under any term, covenant, <br />agreement, condition, provision, representation or warranty contained in this Deed <br />of Trust, the note or any other loan instrument secured hereby; <br />(c) There has been a default by the Trustor in the payment of any prior or <br />subsequent lien or encumbrance in respect to all or any part of the property; <br />(d) Trustor shall file a voluntary petition in bankruptcy or shall be adjudicated <br />bankrupt or insolvent, or shall make an assignment for the benefit of creditors in respect to <br />the property; or an action to enforce any lien or encumbrance or judgments against the <br />property is commenced. <br />11. Acceleration Upon Default. In the event of any default, Beneficiary may declare all <br />indebtedness secured hereby to be due and payable, and the same shall thereupon become due and <br />payable without any presentment, demand, protest or notice of any kind. Thereafter, Beneficiary <br />may: <br />(a) either in person or by agent, with or without bringing any action or <br />proceeding, or by receiver appointed by a court and without regard to the adequacy <br />of any security, enter upon and take possession of the property, or any part thereof, <br />in its own name or in the name of the Trustee, and do any acts which it deems <br />necessary and desirable to preserve the value, marketability or rentability of the <br />property, or part thereof or interest therein, increase the income here from or protect <br />the security hereof and, without taking possession of the property, sue for or <br />otherwise collect the rents, issues and profits thereof, including those past due and <br />unpaid, and apply the same, less costs and expenses of operation and collection, <br />including attorney fees, upon any indebtedness secured hereby, all in such order as <br />Beneficiary may determine. The entering upon and taking possession of the trust <br />estate, the collection of such rents, issues and profits and application thereof as <br />aforesaid shall not cure or waive any default or notice of default hereunder or <br />invalidate any act and in response to such default or pursuant to such notice of <br />default and, notwithstanding the continuance in possession of the property or the <br />collection, receipt and application of rents, issues or profits, Trustee or Beneficiary <br />may be entitled to exercise every right provided for in any of the loan instruments <br />3 <br />
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