202504374 - Laserfiche WebLink

Browse

202504374 including without limitation any agreement concerning any indebtedness or other obligation of Trustor to Beneficiary, whether existing now or later; (k) Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party of any of the indebtedness; or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes the validity of or liability under any guaranty of the indebtedness; (1) The sale, transfer, assignment, conveyance, or further encumbrance of all or any part of or any interest in the Property, either voluntarily or involuntarily, without the express written consent of Lender or as otherwise permitted herein; (m) Abandonment of the Property; (n) A material adverse change occurs in Trustor's financial condition, or Beneficiary believes the prospect of payment or performance of the indebtedness is impaired; or (o) Beneficiary in good faith believes itself insecure. 12. Acceleration Upon Default. In the event of any default, Beneficiary may declare all indebtedness secured hereby to be due and payable, and the same shall thereupon become due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may: (a) Either in person or by agent, with or without bringing any action or proceeding, or by receiver appointed by a court and without regard to the adequacy of any security, enter upon and take possession of the Property, or any part thereof, in its own name or in the name of the Trustee, and do any acts which it deems necessary and desirable to preserve the value, marketability or rentability of the Property, or part thereof or interest therein, increase the income therefrom or protect the security hereof, and, without taking possession of the Property, sue for or otherwise collect the rents, issues and profits thereof, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including attorney fees, upon any indebtedness secured hereby, all in such order as Beneficiary may determine. The entering upon and taking possession of the trust estate, the collection of such rents, issues and profits and application thereof as aforesaid shall not cure or waive any default or notice of default hereunder or invalidate any act and in response to such default or pursuant to such notice of default and, notwithstanding the continuance in possession of the Property or the collection, receipt and application of rents, issues or profits, Trus- tee or Beneficiary may be entitled to exercise every right provided for in any of the loan instruments or by law upon occurrence of any event of default, including the right to exercise the power of sale; 5