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<br /> , , �M. notifla�tlon to T►ustN�nd B�nNlcl�ry.ln the sv�nt any polloy heroundsr Is not isnew�d on o�bsfore flftNn(16)d�y�prlor to
<br /> � ` a'� " '�� It�sxplrstlon dtl�,Trwts�or B�rnilol�ry m�y proaun suah Inauranos In occord�ncs wlth ths piovlslons of P�r�praph 7.
<br /> � Trustor eh�ll ddlver to B�n�f lol�ry Ihs orlpin�l pollolss of Insunnas and�enew�le thsreof or aople� ol auah pql�clas�nd
<br /> -�� ^ ' ; ' �snswals th�nof. F�Ituro to furnlsh suah Inwr�na�by Truetor. or nn�w�l� a� �aqulred hereunder,ahall, at ths optlon of
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<br /> • - � � Beneflelsry,conetitute�detualt.All unsorned premlums ere hsreby aeslpned to Trautee ae addltlonal eecurlty,and a�ale�n
<br /> � aonveyonoe of the Prope�ty by ihs TrustN sh�ll opsr�te to conv�y to ih�puroh��er ths T�uetor'�intero�t in ood to�11 polfolea � - --���_-_�-
<br /> . ` of Inew�nce upon ths Trust Propetly. —
<br /> � • .. 5.Tax�s and Au���m�nt�.Trustor shall p�y all taxes and epsclal aseeeemente levled or aeaesaed opalnet,or due upon,the =--
<br />�, Property befon dNinquancy q►nd wlll d�liver to B�mllolary copise ol ncslpta ehowinp p�yment of euch taxes and ppaa�al u�
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<br /> '' g.,�dltlpnlil LMna t�rusta eA�IG maks aH paymint�ot tntae�st an�d DrinCtp�l,pnd paYmente ot Any other ohiirses.fees.�nd .��;:s,;;-
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<br /> • + 0xpen509 Car�tracted tQ D�pwLd:C�YnX exl�lknp 4bn AoWe►s or prbr ben�6lCiarks un�er�n�t�IGr�eed o!Trac3t.M�rl�eQe or , � ,;,,t�,�,.:_
<br /> t e t. Dafore tAC dste tRey are de�Irpuent ancl to pay �ny olher cNlm whl�ch IeoQardi�xv9 ttw secu�i ,s �,� „�,.,- ,
<br /> Ctit�c�Cttr tY�e�s'netl �y ir,+C�?f��(t! ''}�"� �'
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<br /> �,:�"�-�,:� : .'f; '";,..•, yra�ted herei�. ,;`,;�,;��{)'t�f:;�•;:;!'r::';,ri�:.:,;:
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<br /> .•,,� : . ..`�'"',i'.c';',°;+`''��;`''�:;, 7.Prot�aqon of 8NN11clUry'�Soa��ity.Should T�ustor fall to rnake eny peyment,fal!to do any act as herei�provWed oe�t ;�;'��r�r...:•;;;....:..;•:;;�::;'�•I:,;:
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<br /> , ��r,,�Y,�,t'yM1� '� ` :• any aotlon or proceedln� ia commenced whlch materlally alfecta Beneficlary's iMerest I� thq Property, InaluQing,bu! not ,+:i�' +, ��', ' ��r�
<br /> S �1t;•;a,�t:�::; ,�;,•�:�--� Ilmlted ta,eminent domaln,I�solvency,a��angemeMa or p�oceedings I�valvl�p a bank�upt or deaedent,then Beneticiary or �:,;sr,. ��t ;�� ',.�
<br /> ; �j � �+, � ' r��` '�`'�`�°r Truatee,but without obligatlon to do so,and without notice to or demand upon Trustor,and without�eleasing Truoto�lrom any ,�.;si rf ��}?;:�;r
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<br /> � ;;��5. :,:,;,s,,; ,•.,,.�:�,�.;;;.;,,_�, :,,;, olbipatlon hereunder,may maMe o►do lhe same,and may pay,purchase,conte9t orcomp►omlae any encumbrance,charge or
<br /> , ,,,,��.a� ti � , ;� Ilen,whlah In the Judpment of elther eppeara to affect eaid Property;In exeralelnp any auch powera,the Benefiolary or Truatee � �-•_�'"�'�"
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<br /> . ;�>.; .��,�' may Inaur a Nablllty and expend whatever amou�ts„Inoludlnp olaburaemente of reasonabie attorney's fees,whlah in their ab�
<br /> solute dlearetlon may be neceseary. In the event thet Truetor aholl(all to procure Insurenae,fall to pay texes and apeclal , _�~.�-"..
<br /> asaesamenta or fall to make any payments to exleltnp or prlor Ilen holdera or beneflclarlee,the Beneflclary may procure auch � •=::r.�
<br /> � Ineurance and meke auch p�ymente.All aums inourred orexpendad by Beneflclary or Trustee In aocordonae wlth the provb ( "; 4��,;:t,.-_-
<br /> .� elons of the Deed of Trust are aacu�ed hereby and,wlthout dema�d,ahall bs Immedlately due and payablo by Truetor end aholl , ' �rr,
<br /> • � ' bear Intere�t at th�r�ts provldsd for adv�nces under the Loan Apreement; pro•dded, however, that at th�optlon of th� '°'�
<br /> . BansNolery or T�uste�,euch sums may M add�d to the prinolp�l balance of any I�debtedness ieoured hu�by md�h�ll bpr � . .•_
<br /> � ths��ms Intersst ae euch Ind�bt�dnes��nd sh�ll b�p�y�ble r�Ubly over th�rem�lninq lerm th��eof. �, ��• �,
<br /> 8.Aulpnm�nt of R�nt�.8�rnflcl�ry eh�ll h�v�th�ripht,powsr and�uthoNty durinq the contlnuancs of thls Ds�d of Truet to • •
<br /> � coll�at th� rent�, Is�u�� and p�oflt� of ths Propaty�nd ot any personal prop�hy loa�tsd Ihereon with or wlthout teklnp a�
<br /> � ,- ---- posasss�on of ths Propsrty�ffsaiud h�nby,•nci Truetor i��eby absotuisly and unaond!!lonslfy ss�l9n�al!as�ah reMe,lee4�e� �- .�__-__-.',- ��`
<br /> " 1 and proflte to Bensllol�ry.Bensflal�ry,howsve�, hsrsby conaents to the Tru�to►'s collectlon and retentlon of suah rente, 't�^,.,,r__.
<br /> � Issue�and profpe�e they oaarue and beeome p�y�ble eo lonfl ae Truator la not,at sunh dme,In defauN with reepeat to p�y -. _ "'''���_�
<br /> �� " ' ' ment of an Indebtedneaa aeaured hereb or In the perlormance of any apreement hereunder. Upon any euah default, � ,. .�►•-��
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<br /> � Beneflalary may at any time,elther In person,by opent or by e receive�to be appolnted by a aourt,wlthout not�ae and without , ,�._
<br /> �.:,._.,.
<br /> � � rep�rd to t�e adequaay of any eeaurity for the Indebtedneae hereby aeaured:(a)enter upon and take poaseaslon of the P►oper• � •.`� . .� � s
<br /> ty or eny pert thereof and In Ita own name sue for or otherwlae aolleat auoh rente,lasues ond proflts,Includin�thoae paet due • ;:
<br /> ' and unpald, a�d apply the eame, leas coate and expensea of operatlon and colleatlon,Inaludinp reasonable altorney fees, t.� ;
<br /> � ,� , upon any Indebtednesa eeoured hereby and In such order as BeneNofary may dete►mine;(b)perfo►m euch aate of repal�or pro- i , �
<br /> � , • " tectlon aa may be necesaary or proper to conserve the value of the Property;(c)lease the same or any pan hereof for auch ren• � ��� �.
<br /> • tal term and upon such conditlons as Its�udyment may dictate.Unlesa Truator end Benellclary a9ree otherwise In writlnp,any I;� , ��r�••r���.
<br /> � applicatlon o}rents,Isauea or profits to any Indebtedness secured hereby ehall not extend or poatpone the due date of the In• �:. �.°
<br /> • ' • •�'��� stallmeM paymente as provlded In the Loan Agreement,and the applicatlon the►eof as aforeaeld ahall not walve or cure any '�'��.'; ;:�'�,�;t_ �
<br /> , �,,�.:;,.'.', default or notice of default hereunder or Invalidate any act done pureuent to auch natlao.Truslor also asslyna to Beneficiary, �� .'.��,;,.,:,
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<br /> , '�• ' es futther eeourlty for the pertormance of the obliflatlona seCUted hereby, all prepald rents and all monles whlch may have , ...•.
<br /> '�'�,, been or may hereafter be depoalted wHh sald Truator by any Ieasee of the Propeny,to aecure the payment ot any rent,and .�
<br /> • � upon default In the perforamnce of any of the provislons hereol, Trustor agrees to deliver auah rente and deposita to the ..� .�•,���.,��
<br /> ''-��' Benetiolary. Delivery of wrltten notice o1 Be�eHlcary's exercise of the rfyhta qranted hereln to any tenant ocoupylnp sAW t ,;.�;,,_�;;,:',
<br /> . � ..:... :;: premises ahall be aufflclent to requlre eaid tenant to pay satd rent to the Beneficiary until tu►ther notice. � ,,:; ';.: '
<br /> '4�:���'! 9.Cond�mn�tlon.If title to any part o1 the P�ope►ty shall be teken In condemnatlon proceedlnps,by right of emfnent domaln ; �• � ;�
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<br /> or slmllar aatlon,o�ahall be sold under threat of condemnetlon,all awards,damapes and proceeds are hereby esslqned and • , •,��•,�:;,�,,;,�;�_���•
<br /> .,�� �`�. " � ehall be pald to Beneflclery who ahall apply such award,damapes and proceeda to the euma secured by the Deed of Trust, ,;,,:.. .• ..;• �� . ;.�� •
<br /> • with the excess,If any, pald to the Truator. �� • .
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<br /> • + 10.Futun Ad��no��.Tha loan A�reement providea for edvancea from time to time to Trustor by Beneficlary as provided � �
<br /> � thereln.In addltlon,upon requeat of Truetor,Beneilclary,at Beneflclary's option,prior to reconveyance of the Property to the . �
<br /> Truator,may make edditlonal future advences to the Trustor.S�ch future advences,with Interest thereon,shall be eeCUred by
<br /> • thls Deed of Trust when evidenced by promissory notes atating that sald notes are secured hereby;provided thut at no time
<br /> ' shall the eecured principal ond tuture advances,not including sums advanced to protect the security,excead one hundred per•
<br /> .� . oent(100%)of the origlnal principal amounte aecured hereby.
<br /> 11. R�m�dl�s Cumulatl�n. All remedles provided In thfs Deed of Trust are distinct and cumulative to any other right or
<br /> remedy under thls Deed af Trust or aftorded by law or equlty,ond may be exerclaed concurrently.Independontly or successive• ,
<br /> ly.
<br /> � . 12.AccN�r�tlon;R�m�dt�r,S�b.A defoult shall exlst In the event of:
<br /> (A) Any fraud or mlarepreaentatfon by the Truator In connectlon wNh the Iine of credit which thls Deed of Truat secures;
<br /> (B) Any fallure on the part of the Trustor to meot the repeyment tetms In respect to the Loan Apreement and any other ad•
<br /> ; vancea under thls Deed of Truat hereby secured:and,
<br /> __ ' _ _ ��` .,w.....��«���...�til�f1�n.1 n�T��c1 nr anu fafl��ra nf fhw Tr�lAlffl
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<br /> ��.) Any eciion uy inn i�unw�Nw�uv��w vr uw.o�.��a.,� .��o Oo.�..b�.. ... .. .
<br /> ' �•� to act ea requfred by the Loan Aflreement or this Deed of Trust.each of which Trustor hereby agrees heve en adverse ef-
<br />• � fect on the Beneficlery's security tor the Ifne ol credit esfabllahed and the riphts of the Beneflclary fn such securlty,
<br /> � ' , and upon the happening o}any sucA event of detault,Beneficfary rnay declare all sums seCUred hereby Immedlately due and
<br /> •� � ;,; ' payable by dellvery ta Trustee of u�+tten declaratlon of default.The Trustee shell have the power of sele of the Property.end if
<br /> � Beneticlary deslres the ��operty to be 5ofd. �a sl�afl depos�t wlth Trustee thls Oeed of trust and a�1 aiomissory notes a�d
<br /> �� ����,���� ,,��'•� documents evldencing expend�taures secured f+e►eby and sha�7 tleswer to'�rustde a wNtten notice o� 8efau�l and eiect�on to '
<br /> . . � •,;:'.,.� cauae the ProFerty to be so�d,�nLl the Truatee�n tum shall Drepare a n�t�ce in the�otm requ�red by law.wh�ch sha11 be duly fil• •
<br />� � : .�;� , ed for record by Truatee. '
<br /> . ; +:.;,��;.�,'
<br /> � � �;;,�,;�;;�•, , �A) Atter the lapse of suCA time as mey be requlred by law tollowing the recordation ot said notice of detauN,and notice of
<br /> ' I'''.;,,,; ,• !.'• .
<br /> � �, � S,,.:.:•. •_ default and notice of sale reWng Oeen glven as requlred by law.Tru9tee.wlthoul tldmand on Trustor,shall sell the Proper•
<br /> .�.`'�'. :'''' �,r•,,�.
<br /> • � ty on the date and et the tirne snd p�ace deeignated In sald notice o1 sale,at pu�i�lc auctlon to the h�gheat bidder,the pur-
<br /> �� �'"��'{�"'� �. .. ;,hase prlce payable In la�+v�'uf money ot the United States at the time ot sale.The Derson conducting the sale may,for any
<br /> � .� . . . cause he deems expedienf.uGStpone the sele from t�me tu timQ untll it shall be completeC and.In every such case,notice �
<br /> NF�O�S 17i90�
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