|
r��;
<br /> �: �
<br /> `X-
<br /> .�
<br /> " 1
<br /> �W. `� .
<br /> �P .., , ;�'� �.�I
<br /> -ti,: ., . . 93„ 10�408
<br /> ;. � • .
<br /> � � .� oblipat�ons secured hereby, e11 prepald rents and all aanAy� wiilch �ay have
<br /> �'�`� been or way hereatter be deposlted with Trustor by eny tessea ot the Property.
<br /> �� „�:��;';.„ to secure the payaient of a�ny rent or dasagp�, and upon defau lt in the
<br /> '�•��• � •Y-� �� perfor�ance of any of the provisions hereof� Trustor agrees to dellver such
<br /> � �� ��� '`� rents ev�d deposits to Beneficiary. Oelivery of written notice of
<br /> •1:iM�....
<br /> ; .. .��"'�`���''% . Beneficiary's exerciae of the rights granted by th�is paragnaph third to any
<br /> ���`�'� � �� -� �` tenant occupying the Prop@rty or any portlon thereof shal l be suff ic ient to
<br /> � �" �� ` ,�y':' � require said tenant to pay said rent to BenefiCiary until further notice.
<br /> �
<br /> .. ��'w'`'..
<br /> �� 4. If there shall be filed by or against the Trustor eny petition
<br /> .�3.:• �X:, ;�.�.r,n.:.,�;.,� or proceedln� seeking an arrangemant or caapasiti4n or extension or any other
<br /> . � relief under or pursuant to the Federal Bankruptcy Code or any other si�ailar
<br /> � �� �� '�� statute as now or hereafter in effect� or if the Trustor shel l be ad�udicated
<br />- ,,r:;�-.: ' . _- . �
<br />�. r+� {� � .+:���••���� ,. bankrupt or 9nsolvent or any of T�ustor s prap�rty �hall have been sequestered
<br />�.:.•:'�� , ._ . . , and such decree shall have continued und9scharped and unstayed for 90 days
<br /> � � �� after the entry thereof� then the whale af the Note and indebtedness hereby
<br />� ° 'f ° ;;- ."'.��'`' secured shall, without notice, at the op�ion_ of the Be�efic�ldry, become due
<br /> •✓ • � � , and payeb le.
<br /> � '����"' , ° � � 5. Upon default by Trustar in the payment of or perfarmance of the
<br /> ter�s end conditions of Lhe Note� or any r�newals, aqdifications ar executions
<br /> thereof� the paysent of any other indebtedness secured hereby or in the
<br /> �. � � performance of any agreement� covenant or warranty herein contained or set �
<br /> !:''�� forth 9n any agreement of instrument executed by Trustor in conaection with '°•'
<br /> , : � the indebtedness hereby secured� Beneficiary aay �eclare all sums secured
<br /> '. �� � �� �„ �. hereby im�aediately due and payable and the same shail lthereupon become due and "
<br /> �� � payable without presentment� demand, protest or notice uf any kind.
<br /> • Thereafter� Benefic9ary may deliver to Trustee a written declaration of
<br /> � . � default and demand for saie. Trustee shall have t�e power of sale of the _
<br /> Property and if Beneficiary decides the Property is to be sold it shall �°°•
<br /> -_ - — - ---- �eposit raith Tr�st� Lhis Qeed of Trest �nd Lhe !lot� or notes and any o�her
<br /> � ' � ' � documents evidencing expenditures secured hereby� and shall deliver to Trustee
<br /> ,, a written notice of default and election to cause the Property to be sold� and ,��.;
<br /> � ' Trustee, in turn, shall prepare a similar notice in the form required by law�
<br /> � � .. „ which shall be duly filed for record by Trustee.
<br /> ' � a. After the lapse of such time as may be �equired by law ±��
<br /> � � � following the recordation of Notice of Default� and notice of
<br /> " � Default and Notice of Sale having been g9ven as required by law,
<br /> ' ::�: Trustee� without demand on Trustor, shal l sel l the Property _
<br /> ,,j.' ;: : herein before described� and any an� every part thereof, in
<br /> ,��. �'�: , separate parcels or en masse as the Trustee may elect and in ,
<br /> such order as Trustee may determine on the date and at the time
<br /> , , � . � . and place designated in said Notice of sale. at publ ic auction
<br /> , : ' . • to the highest bidder� the purchase price payable in cash in �
<br /> �:� •�'� , lawful money of the United States at the time of sale. The
<br /> . • person conducting the sale may� for any cause he or she deems �
<br /> expedient� postpone the sale from time to time until it shall be E•
<br /> ' completed and, in every such case� notice of postponement shall k
<br /> be given by public declaration thereof by such person at the �
<br /> � time and place last appointed for the sale; provided, if the
<br /> �. ;, sale is postponed for longer than one (1) day beyond the day .
<br /> � designated in the Notice of Sale, notice thereof shall be given
<br /> � . in the same manner as the origina 1 Notice flf sale. Trustee
<br /> . � ' i shall execute and del iver to the purchaser its Deed conveying �
<br /> . the property so sold, but without an�a covenant or warranty, .
<br /> . � ; . .
<br /> �;�. . . �
<br /> :�:; �� 1
<br /> °;;:;.� ., � Loan F-196970 Page 7 of 12 I nit ial s:�_.�,�� -
<br /> ..,�., �,.; �
<br /> �,;, , .
<br /> ,�,''� � , , . :.,!, .
<br /> �- - • .
<br /> � .- . .
<br /> t'
<br /> �.,
<br /> , �` ,
<br /> • �
<br /> � ,
<br /> � � ._ 1
<br /> }
<br /> .
<br /> . +
<br /> � .
<br />
|