|
,,r_"C°RDE - 202404202403641 053
<br />9. Inspections. Beneficiary, or its agents, representatives or workmen, are
<br />authorized to enter at any reasonable time upon or in any part of the property for the purpose of
<br />inspecting the same and for the purpose of performing any of the acts it is authorized to perform
<br />under the terms of any loan instruments executed by Trustor.
<br />10. 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 herein.
<br />11. Events of Default. Any of the following events shall be deemed an event of
<br />default hereunder:
<br />(a) Trustor shall have failed to make payment or any
<br />installment of interest, principal or principal and interest or any
<br />other sums secured hereby when due;
<br />(b) There has occurred a breach of or default under any
<br />term, covenant, agreement, condition, provision, representation or
<br />warranty contained in this Deed of Trust, the note or any other loan
<br />instrument secured hereby;
<br />(c) There has been a default by the Trustor in the
<br />payment of any prior or subsequent lien or encumbrance in respect
<br />to all or any part of the property;
<br />(d) Trustor shall file a voluntary petition in bankruptcy
<br />or shall be adjudicated bankrupt or insolvent, or shall make an as-
<br />signment for the benefit of creditors in respect to the property; or
<br />an action to enforce any lien or encumbrance or judgments against
<br />the property is commenced.
<br />12. Acceleration Upon Default. In the event of any default, Beneficiary may declare
<br />all indebtedness secured hereby to be due and payable, and the same shall thereupon become due
<br />and payable without any presentment, demand, protest or notice of any kind. Thereafter,
<br />Beneficiary may:
<br />(a) either in person or by agent, with or without
<br />bringing any action or proceeding, or by receiver appointed by a
<br />court and without regard to the adequacy of any security, enter
<br />upon and take possession of the property, or any part thereof, in its
<br />own name or in the name of the Trustee, and do any acts which it
<br />deems necessary and desirable to preserve the value, marketability
<br />or rentability of the property, or part thereof or interest therein,
<br />increase the income therefrom or protect the security hereof, and,
<br />without taking possession of the property, sue for or otherwise
<br />collect the rents, issues and profits thereof, including those past
<br />due and unpaid, and apply the same, less costs and expenses of
<br />operation and collection, including attorney fees, upon any in-
<br />debtedness secured hereby, all in such order as Beneficiary may
<br />determine. The entering upon and taking possession of the trust
<br />estate, the collection of such rents, issues and profits and
<br />application thereof as aforesaid shall not cure or waive any default
<br />or notice of default hereunder or invalidate any act and in response
<br />to such default or pursuant to such notice of default and, notwith-
<br />standing the continuance in possession of the property or the
<br />collection, receipt and application of rents, issues or profits, Trus-
<br />tee or Beneficiary may be entitled to exercise every right provided
<br />for in any of the loan instruments or by law upon occurrence of
<br />any event of default, including the right to exercise the power of
<br />sale;
<br />3
<br />
|