|
99- sc-4os�
<br /> '°�as. i"rustor sha , each instaliment of all taxes and special ;.. ,ssments of every Wnd, now
<br /> levied againsc the Trust Estate a� any part thereQf, befo�e detinquency, without nodce or demand.
<br /> ar hereafter .
<br /> 3• /nsurance and Repairs. Trusto�shaU maintain fire and extended coverage insu�ance insuring q�e Improvem
<br /> canstituting paR af the Trust Estate for such amounts and on such terms reasonably satisfactary to He�eficia
<br /> P�aperty is secured by a first deed of trus: or mortpage, campliance with the insurance requirements of the first deed of ents
<br /> morcgage shall be sufficient to satisfy the requirements of this paragraph 3 relating to insu�ance. ry S0 �ong aS �e
<br /> uust or
<br /> Trustor shall promptly repair and replace the Trust Estate or an
<br /> the Trust Es;ate shall noc deteriorate. In no event shall the Trustor commit waste on ar co the Trust Estate, or cammit, su
<br /> y part thereof sa that, except for ordinary wear and �e��,
<br /> permit any act to be done in or upon the Trust Estate in violation of any law, ordinance or regulatian. Trusto�shall a
<br /> discharge ac 7�ustor's cost and expense afl liens, encumbrances and charges levied, imposed or assessed against the Trust ffer or
<br /> ar any part thereof. P Y and promp�y
<br /> Esrate
<br /> 4• Actions Affecting T�usi Estate. Trustar shall appear in and contest any action or proceedin
<br /> the securiry hereof or The rights or powers af genericiary or Trustee, and shall pay afl costs and expenses, including cost of eviden
<br /> 9 Aurporting to affe�
<br /> of title and actorneys' fees, in any such action or proceeding in which Beneficiary or Trustee may appear. If Trustor fails to ma
<br /> any paymznt or to do any act as and in the manner provided in any of the Laan Instruments, 8eneficiary and/or Trustee, eachkn
<br /> their own discretian, without obligation sa to do and without notice to o�demand upon Trustor and without releasing Trustor frq
<br /> any obligation, may make or do the same in such manner and ta such exte�t as either may deem necessary to protect the securi
<br /> hereof. Trusto� shall, immediately upon demand therefor by Beneficia m
<br /> connectian with the exercise by Beneficiary of the foregoing rights, inc ud ng without limi at on cost of evide ce of [t1e, o R
<br /> cos;s, appraisals, surveys and attorneys' faes,
<br /> 5• Eminent Domain. If the Trust Estate, or any part thereaf or interest therein, be taken or damaqed by reason of
<br /> any public improvem�nt or condemnation proceeding, or in any othec manner including deed in lieu thereof ("Candemnatian" a�
<br /> if Trustor receives any notice or other information reqarding such proceeding, Trustor shall qive prompt written notica ther
<br /> Beneficiary. Trustor shall be entitfed to all compensacion, awards and other payments or relief thereof and shall be entitled a,i
<br /> optian to commence, appear �n and prosecute in its own name any action or proceedings. Trustor shall also be entitled to make
<br /> any compromise or set;lament in connection with such taking or damaqe. t �
<br /> 6• Appointment of Successo� T�ustee. Beneficiary may, fram time to time, h
<br /> acknowledged by Beneficiar�, mailed to Trustor and recorded in the Caunry in which the Trust Estate is located and by otherwise
<br /> com 1 �n with the provisions of the applicable law or the Stata of Ne6ras�ca substitute a su cesso oen instrument executed dnd
<br /> p Y� 9
<br /> named herein or actinq hereunder. successars to the Trustee
<br /> �• Successo�s andAssigns. This Second Deed of Trust applies to, inures to the benefit of and binds alt parties hereto,
<br /> their heirs, legatees, devisaes, personal repres2ntatives, successors and assigns. The term "8eneticiary" shall mean the owner and
<br /> holder of any promissory note given to beneficiary, (whether or not named as Beneficiary herein].
<br /> 8• Me�qer, Conso/idaiion, Sa/es ar Leases. Trustor covenants that Trustor will not sell, lease or otherwisa disposa
<br /> ot any ot the Trusr Estate. In the event that Trus:or sells, leaszs or otherwise disposes ot an
<br /> may at its option declara the Indebtedness sacured hereby immediately due and payable, whether or not any default exrst5.
<br /> Baneficiary sha11 consenc to a transfer of the Trust Es:ate ta a third a Y pa�°f the Trust Es:ats, Beneficiary
<br /> contained in, and assumes the obligations set forth in the First Deed of Trust.t The cove ants co�ained herein shafl run with the
<br /> Pro e A �"tY meets the r,.quirements
<br /> P ny and shafl remain in full force and effect until the Indebtedness is paid in full.
<br /> s• Events of Detau/r. Any of the following events shall be daemed an event of default hereunder:
<br /> fa) defauft shall be made in the payment of the Indebtedness or any other sum secured here�y when due;
<br /> or
<br /> (b) Trustor shall perform any act in hankruptcy; or
<br /> (�l a court of competent jurisdiction shalt enter an arder,judgment ar decree approving a petition filed against
<br /> Trusior seeking any reorganization, dissolution or similar relief under any present o�future federal, state or other statute,
<br /> law ar regulation relating ta bankruptcy, insolvency or other relief tar debtors, and such order, judgment ar decree shall
<br /> remain unvacated and unstayed for an aggregate of sixty(60)days(whether or nat consecutive) from the first date af entry
<br /> thereof; ar any trustee, receive� or liquidatar or Trusiar or of all or an
<br /> �oyalties, revenues, rents, issues o�p�ofits thereof, shall be appointed w thout thetco sent oE atcquiescence af Trustor and
<br /> such appointment shall remain unvacated and unstayed for an aggregate of sixty (60) days twhether or not consecutivel;
<br /> ar
<br /> 2
<br />
|