|
- �� �os���
<br /> expended by Lender in connection with the exercise by Lender of the foregoing rights,
<br /> together with interest thereon at the default rate provided in the Note, which shall be
<br /> added to the indebtedness secured hereby. Lender shall not incur any liability because of
<br /> anything it may do or omit to do hereunder.
<br /> 9. Hazardous Materials. Trustor shall keep the Property in compliance with all
<br /> applicable laws, ordinances and regulations relating to industrial hygiene or environ-
<br /> mental protection (collectively referred to herein as "Environmental Laws"). Trustor
<br /> shall keep the Property free from all substances deemed to be hazardous or toxic under
<br /> any Environmental Laws (collectively referred to herein as "Hazardous Materials").
<br /> Trustor hereby warrants and represents to Lender that there are no Hazardous Materials
<br /> on or under the Property. Trustor hereby agrees to indemnify and hold harmless Lender,
<br /> its directors, officers, employees and agents, and any successors to Lender's interest, from
<br /> and against any and all claims, damages, losses and liabilities arising in connection with
<br /> the presence, use disposal or transport of any Hazardous Materials on, under, from or
<br /> about the Property. THE FOREGOING WARRANTIES AND REPRESENTATION,
<br /> AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEM-
<br /> NITY, SHALL SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br /> 10. Assignment of Rents. Trustor hereby assigns to Lender the rents, issues and
<br /> profits of the Property, provided that Trustor shall, until the occurrence of an Event of
<br /> Default hereunder, have the right to collect and retain such rents, issues and profits as
<br /> they become due and payable. Upon the occurrence of an Event of Default, Lender may,
<br /> either in person or by agent, with or without bringing any action or proceeding, or by a
<br /> receiver appointed by a court and without regard to the adequacy of its securrty, enter
<br /> upon and take possession of the Property, or any part thereof, in rts own name or in the
<br /> name of the Trustee, and do any acts which it deems necessary or desirable to preserve
<br /> the value, marketability or rentability of the Property, or any part thereof, or interest
<br /> therein, increase the income therefrom, or protect the security thereof, and, with or with-
<br /> out taking possession of the Property, sue for, or otherwise collect, the rents, issues and
<br /> profits thereof, including those past due and unpaid, and apply the same, less costs and
<br /> expenses of operation and collection including attorney's fees, upon any indebtedness
<br /> secured hereby, all in such order as Lender may determine. The entering upon and taking
<br /> possession of the Property, the collection of such rents, issues and profits and the appli-
<br /> cation thereof as aforesaid, shall not cure or waive any default or notice of default here-
<br /> under or invalidate any act done in response to such default or pursuant to such notice of
<br /> default and, notwithstanding the continuance in possession of the Property or the collec-
<br /> tion, receipt and application of rents, issues or profits, and Trustee and Lender shall be
<br /> entitled to exercise every right provided for herein or by law upon occurrence of any
<br /> Event of Default, including without limitation the right to exercise the power of sale.
<br /> Further, Lender's rights and remedies under this paragraph shall be cumulative with, and
<br /> in no way a limitation on, Lender's rights and remedies under any assignment of leases
<br /> and rents recorded against the Property. Lender, Trustee and the receiver shall be liable
<br /> to account only for those rents actually received.
<br /> 11. Fvents of Default. The following shall constitute an Event of Default under
<br /> this Deed of Trust:
<br /> (a) Failure to pay any installment of principal or interest or any
<br /> other sum secured hereby when due;
<br /> (b) A breach of, or default under, any provision contained in the
<br /> Note, this Deed of Trust, any of the Loan Instruments, or any other lien or
<br /> encumbrance upon the Property;
<br /> (c) A writ of execution or attachment, or any similar process, shall
<br /> be entered against Trustor which shall become a lien on the Property or
<br /> any portion or interest therein;
<br /> (d) There shall be filed by or against Trustor or Borrower an
<br /> actior. under any present or future federal, state or other statute, law or
<br /> regulation relating to bankruptcy, insolvency or other relief for debtors, or
<br /> there shall be appointed any trustee, receiver or liquidator of Trustor or
<br /> Borrower or of all or any part of the Property, rents, issues or profits
<br /> thereof, or Trustor or Borrower shall make any general assignment for the
<br /> benefit of creditors;
<br /> (e) The sale, transfer, assignment, conveyance or further encum-
<br /> brance of all or any part of or any interest in the Property, either voluntar-
<br />
|