|
.. _ _ .. .____. -____ __ _ _ _
<br /> , . . . . , . . _ _ _�a;,�
<br /> ,� -- .. -:"
<br /> . . . -:, - ���
<br /> __....__�.._.. . � . __==�T=
<br /> , ��:-_-
<br /> , , _ .. > _��.�
<br /> .. ..,_;�..
<br /> ����Q�e7�e7 . _.-..:,--;,
<br /> � � �� i notNlceUo�ta 1'ruotao�nd t�aneiloiary,In thv ovout r,i►y p�ltoy haraundar In nnt ronorrad on o►patoro flftnari�15)daya prlar lo . -- � __
<br /> � Ifo nMpiratlon d�to,Truotoo ar Banaliolnry moy proo�ero �uch Ineumnao In aacordnnco wllh tha provlolona af Pnrap�nph 7'. ? .
<br /> , � Ttu�tor shall dallvor to �anofloiUry tho arlpinnl polloles ol IneurAnoa and ranowala thoraof or caplua of �uoh qallclo� and i =
<br /> � renowalo thorc�ol. Falluro to lurnlah auoh In�urancc by Truetar,or ranowald ne requlrotl haioundor, oholl, nt tho optlan of
<br /> - � 43anc�flclary,conatltute a dafualt.All unec�rned pramlume aro heroby�3elgi�od to 1'routon ne adUlUonAl eoaurlty,and a of�la�ntl ; �
<br /> --- - _ .. _...._. . ,
<br /> 1 convoynnGC►nf the Pr�p�rty by tha T�uotoo ohall nparnte lo convay to thq pur�fl�oor tha�'rut�tar'a lntnrest in and ta atl�011o18a ----— �
<br /> ��'� �� j ot Inauranc0�upon tho Iruei Proporiy, ; , . � --
<br /> j 5.T�K�s�nd Ass�yem�nto.Trualor ehAll poy ail taxao an�e�oclal aoseserftente{eviad or aasca�c�!�spAlnzt,ar due upon,!he � ; . . . .
<br /> � Proporty boloro dollnquenoy and wlll dallvor ta 8anoflolory coplos ot racolqto ehowing paymant of auah taxos and epealul ;
<br /> � c+0000smoma. j �.
<br /> �• I B.AddNlonAl Ll�at�►.Truetor ahall mako all puymanta ot Inta�oat n�d prinplpal,nnd poymonte of Any othur ohflrpas,fqae,and
<br /> expensas oontrnatod to bo pc�ld t0 c�ny oxleting Ilon holde�s or prlar bonoflalerloe undor t�ny prlar poad a11'ruat,Marttis�p or
<br /> I othar eeaurlty apraomont, hofo�a lhe datu thoy aro dallnquent and to pay uny other alnlm whlch �oap�rdlxos tho eaaurity �
<br /> �
<br /> grnnted horoln. �
<br /> 7.P►aY��tlon ol BoM1lClary'e S�curity.8houtd Truator fAl110 m[�ke any paymonl,fAll ta do any aat na ho�pin pr�vld�d or If !
<br /> Any actlon or proaeeding le cnmmenood wltloh materlally atfectp Benollola�y's Interest I�ih� Proporiy, Inaludlnp, but no! ►.
<br /> Ilmllod ta, eminent domoln, Ineolvenny, arranflements or pracoodlnfla Involving a h�nk�upt or clecadont,thon 9enp11alary or ,
<br /> Truetee,but wlthout obllgAtlon to do eo,and tivlthout notlrae to or domsnd upon T�ueto�,and wlthaut reloasing Truotor Irom uny ;
<br /> olblgatlon horeunder,may mako or do the eame,pnd may pay,purchaso,contast or compramlae any onaumbrance,charfle or
<br /> Ilen,whlch In the Judgment of olthor appears to affoct sald Propvrty;In exeralsing any auoh powara,tha BonollclAry or Truatee
<br /> mny Inaur a Ilablllty und qxpend whatever amounts„Inoludlnp olaburaemento of reasonabla attorney's fees,which In tholr ob- ,
<br /> ealuto dlsaretlon may be neoosa6ry. In Ihe evont that Truetor ehall fall to proaure Insuranoe, fall to pay tuxes and epeolal
<br /> aeaessmante or fall to mako t�ny payments to exlsltng or prlor Ilen holdere or beneficlarles,tho Benellolary msy prooure suoh + •
<br /> Inauranco and m�ke such payments.All 9uma Inourred orexpandeti by Beneflolsry or Truetoe In accordance wlth the provl•
<br /> alone of the Qeod of Trust are sacurvd hereby a�d,wlthout damand,ehall be f�rmedlately due and pay�ble by Truator and ahAll
<br /> hear Intarest at the rato provldod for advanoes under tho I.oan Agreement; provided, however, that at the optlon of the
<br /> ! Benetlolary or Trustoe,auGh surns may be�►dded to the�rinc�pal balanco ot any Indebtodnees secured hereby and ahall boar
<br /> i tho snme Interest as suoh Indebtedness and ahall be payablo ratc�bly ovor the remalning term tharaof.
<br /> � 8.Aealqnment o1 Rente.Boneficlary shall have iho►Ight,po�ver and authorlty during the cantlnuance of this Deod of Trust to
<br /> ; collect the rents, laeuos and protlts of tho Property and ot any personal praperiy located thoroon with ar wlthout taking
<br /> ! possasalon ot 1he Property atfeoted heroby,and Truator hereby absolutely and unconditlonally a��lgn�all such rents,Isaues
<br /> and protlts to Benellclary. Benetlalary, however, heroby conaents to the Truator's collectlon and retentlon of suoh �ente,
<br /> I laeues and prollts ae ihey acorue and becomo poyable so long as Trustor le not,at auch time, In default with roapoct to pay
<br /> ment ot any Indebtedness aecurpd hereby or In the pertoemanco of any agreemont he►eunder. Upon any euch default,
<br /> I Bo�eficlary may at any fime,elthor In person,by agent or by a recaivAr ta ba appolnted by a court,without notico and wlthout
<br /> 1 regard to the adoquacy af any aecurity for ihe Indebtetlness nereby aocurvd:(a)enier upan nr�a iakn Wv35asslos�of tha°ra�ao• - ----
<br /> � ty or any pari thereof and In its own name eue for or othenviso collaCt such renta,lesues and pro111s,Including thase past dua
<br /> I
<br /> I and unpald,and apply the same,lase coats and expenses o1 opo►atlan and collectlon, Inaludlnq reasonabla att4rney ees,
<br /> -- s:pa�ar,;ln���l.�n�ss se�Lloe�hn.ghv anrl In 4�ir..h nrdAr as Bono}1C12rV meY d6t0fRlift9;(b)perform�uCh aots of rapalr pr pro•
<br /> tecllon ae may ba necessary or�roper to oonaerve ihe value ot S�o Prop�rly;(c)lease the same or any p�rt he►apf f�►suoh ren• ,
<br /> tal term and upon auch condltlone as Its Judgment may dictate.Untess Truetor and Bena}Iclary agree otherwlse In wrlting,eny
<br /> epplloatlon af rents,Isaues or prollts to any Indobtedness aecured he►eby ahell not extend or postpono tho duo date of the In•
<br /> I stalimont paymants as provided In the Loan Agreement,and tho applicatlon thereof as aforesald shall not waiva ar cura any
<br /> deiault or notice of default hereunder ar Invalidate any act tlone purauant ta such nollce.Truator�Iso 2aslgna to Henetlalary,
<br /> I ae furlher�ecurlty for the performance o}the obllgatlone aecured hareby, all prepald rents snd all monles whlCh may have
<br /> . been or may herea}ter be depasiipd wlth 9ald Trustor by any ieAaee af the Property,to aeoure the payment ot a�y rent,and
<br /> I upon de}ault In the perlpramnco of any of the provlslons hereof, Truatar agrflas to deliver auch rents and doposlt� to iho
<br /> Bene}lolary. Dellvery of wrllton notice o1 Benaltlasry's exerclse ot the rights�ranted hereln to any tenant accupying sAld
<br /> � premisea ohall be sufflclent to requlre seld tenant to pey Aald rent to the Beneficlary untll funher notice.
<br /> . I 9.Condsmnatlo�.N tltlo 10 any part of ihe Property shall be taken In condemnatlon proceedinga,by right ot eminent domaln
<br /> � or slmllar aatlon,or ehall be so9d undar threat a1 condemnatlon,all awarda,damages and proceeds are hereby aosigned and
<br /> ahall be paid to Beneflclary who shall apply such award,damage�and proceeds to the sume secured by the Deed of Trust,
<br /> with the excese, N any, pald to the Trustor.
<br /> 10. Futurs Advanaoa.The Loan Agreement provldes for advances fram time io tlrne to Trustor by 9eneflolary as provldad
<br /> thoroln.In addltlon,upon requast of TrustoT,Benellclary,at Boneflclary's optlon,prlor to rec.onveyance ot thv Property to the
<br /> Tru8lor,may make addltlonal luluro advancea to the Trustor.Such future advanaes,wlth Intereat lhereon,shall be secured by
<br /> this Dead o}Trust when evidenced by promissory no:es stating that sAld notes are socured hereby;provlded that at no time
<br /> � shall the seoured principel and futu►o advanaea,not including aums advanced to profoct the security,exceed one hundred per-
<br /> � cont(100%)of the orlginol principal amounts aecured horeby.
<br /> 11. Ramedlee Cutnule4lve.All ramedies provided in thls Deed at Trust are diattncl and cumulativ� to any other rlgnt or
<br /> , remody under this Qeed ot Trust or a}fprded by law or equity,and may be exercised c�no�rrently,Independently ar successlve•
<br /> ly.
<br /> � 12.Accalarotlon;Remadlea; Sele.A defauit ahaii exist m the event a1:
<br /> (A) Any tiaud or mlerepresente�tlon by the Tr�star ln ca�nectlon wlth the Ilne o}credlt whlch ih{s �eed ot Tru&1 secures;
<br /> (9) Any}allure on the part ot the Truator to meet the repayment terms In respect to ihe Loan Ac�rcement and any other ad• •
<br /> vancea under thls Deed ot Trust hereby secured: ancl.
<br /> (C) Any aCtlon by the Trustor prohlbited by the terma of the loan Agroement or thls Deed o}Trust or any tailure a}the Truslor
<br /> ' to act as required by the Loan Agreement or ihls Devd of Trust,each of which Truator hereby agrees have an adverse ef-
<br /> fect on the 9oneflclary's security for the Iine of credit establlshed and the righis o1 the Beneficlary in such security,
<br /> and upon the happening of any auch event ot default.Benellclary may declare all sums secured hereby immediately due and
<br /> ' payAblo by dallvery tu Trustee oi written doclaratlan oi detault.The Trustee shall have iho power of sale ot th�Property,anci�f
<br /> Bonoficlery doslres the Property to be sold, it shaU dopos�t with Trusteo this Deod oi iru�t and all promissory notes And
<br /> documents evidencing expenditures secured hereby and shall del�vQr lo Trustoe a written notico of detault and electlon to
<br /> � cause the Prnperty to he sald,and t he Trustee in turn shall preparo a notice in the Iorm roquired by law.which shall be duly fil•
<br /> � od lor racord by Trustee.
<br /> � � (A) Attor the lapse o}such tlme es may he requlred by law�allowing the recordatlon of sald notice o}dofault,and notice of
<br /> � � default and notice o1 sale having been glven as requlrod by law,Trustee,without demand on Trustor,shall sell the Proper•
<br /> ty on tho date end at the time end plaCe designated in sald notice of salo,at publlc auctlon to the hic�hest biddor,tho pur•
<br /> � chasa price payeble In lawful money of the United Stetes ai Iho tlrno ot sale.The person conducting tha sale may.lor any
<br /> � ' cause ho deem&expedlent, postpone ihe sale Irom tlmo lo Ilmo untll It shall be completed and, in every such case,notice ,
<br /> � HFe0i5��90� '
<br /> 1 �
<br />
|