|
_ _ T.^'_'^,^�'__•'r_-. _ . ....•7� ...1 . - -
<br /> - .•.�, ., :_ ,,;.. ,;!: . .. • • '=if'''�4.' .';�':� -: , . • 'r,..��.�.�• �
<br /> . . '.:l'� f' , �1� l ' � . ' . � � � '� _
<br /> — . ,., ' - � :,.` .��
<br /> :;..� . .� . ,
<br /> ��� �
<br /> 1�t . �—
<br /> �� � , � —
<br /> S. , .,_
<br /> �j� t.a��...._..,�.. _.._ _b�-.—
<br /> , �_ �° -
<br /> ; . . 9i--Y o85e� - r���-�
<br /> , � , IT IB MUTUALLY AOREED THAT: `�w`�' ;Y �_��_
<br /> j ._:.�.�::���_*-
<br /> � �� IITIOATION:Truaror shell ddend thls Troet in eny actfon or procaedlnp purportin�to aHeatsuoh properly,whethe�or not �_`=r_.�.�;.;,.,;
<br /> it aNects Ihe security hereot,or purpoNinp to effect the riphts or powers of Benetfciary af Trustee,and shell Illa end ►'�. , � - '
<br /> , proaecute all neceaeary claims and actiona to prevent or recover(or any demape ro o�deatructlan of such property,and , ��';r,�.
<br /> eflher T�ustee o�Benefiaiery is hereby autho�ized,wlthout obli�ation so to do,to commence,appear In or defend any sucit
<br /> � action.whethArbtouphtbyorapeinstTruetor,8eneficiaryorTrusteeorwithorwllhaulauil,toexercfoeo�enforceanyother , �
<br /> i right,remedy or power avafleble or confe�red hereunder,whetheror not judpment be entered i�any action or p�oaeeding; . . . '�-,�
<br /> � and Truetor or 8ene11cfery may appear or intervene in any aation or proceedlnp,and retein counsdl Iherein;end take such -
<br /> actlon therein,ae either may be advised end mAy settle,compromise or paythe same or any other claims e�d,in that behaN �
<br /> and lor any ot said purpoaes,mey expend and advance such sums of money es either may deem necessary.Whether or�ot w
<br /> �� Truetor so appears or defends,Truata on demand shell pay ell coata and expenses of 8eneflciary end Trustee,including
<br /> i cost of evidence of tltle and ettorney's feee in a reasoneble sum,in any auch acUon or prxeedinp in which 8ene11ciery or ,�
<br /> � T►ustee may appear by vi�tue ol being mede e pery defendant o�otherwise end irreapective of whether the i�te�est of
<br /> � &aneliciary or Trustee in such properry is directly queationed by auch action,including but not Ifmited to,eny ectfon tor the .
<br /> foreclosure of, or sale proceedings ureder, any secondary lien on such propeiiy,condemnation or peKidon ot such �:;;,•
<br /> 4 properly,and any suit broupht by 8enaficiary to foreclose this Deed of T�ust. ,
<br /> I
<br /> � CONDEMNATION:All sums due,peid or payable to T�usto►,o►any successor in interest oi Trustor,whether by way ol
<br /> � judpment,settlement o►otherwise,�a�fo�Injury or damafle to such property,o�(b)in connectfon with any condemnation
<br /> for public use or fnjury to such property or any pan thereof,or(c)in connection with the trensaction financed by the loan
<br /> secured hereby or(d)arisi�g out of al1 causes of action,whether accruf ng befare or afle�the date of this Deed of 7rust, ,
<br /> sounding in tort or contract, including causes af Actfon for freud o�concealment o1 a material tact together with the ,r"
<br /> : selllements,proceeds,awerds end damages,direcZand conseque�tfal,in connection lherewith are hereby absolutely and ; , ..
<br /> � �rrevocably assigned and shall t�e peld to Benelip iam,r.Beneflciary shall be entltled,at Its optk,n,to commence,iMervene in, , ��
<br /> i' � appear in and prosecute in its own��me, any action or proceeding, or to make any compromfse or settlement, In • � ,� ; :,:�'
<br /> � � connectlon with any such taking o�da�nage.Trustor agrees to execute such fu�ther essignmenis of any compensauon, .:. ;: �:"� :'
<br /> � � ;:; award,demaqes,�iyhta of action and��oceeds as Beneticiary mey require. ' �� • °' �
<br /> I, ' ''.
<br /> � ''���� All amounts received by Beneficiery purauantto this Deed ot Trust unde�any tlre or other Insurance policy,in connection _;
<br /> with any condemnatlon for public use of or injury to such property.for injury or damage to such hereby are to be applied at
<br /> � the option of Beneticiary upon any indebtedness secured hereby.The applicetlon,uae or�elease of such amount shell not '. .,' `
<br /> cure or waive any default or notice ot defeult hereunder or fnvalidate any act done purauaM to auch r�otice. �
<br /> j , � CONSENT,PARTIAL RECONVEYANCE,ETC.:'�rustee may,et any time,or lrom tfine to time,wilhout IiabiNty therebre, '
<br /> r � . and without�otice,upon wrftten request of Beneliciary,and without aflecting the personal liabifi�ty o1 any person for
<br /> � payment o4 the indebtedneas secured hereby,or the Nen of thls Deed of Trust upon 1he remalnder of auah propery tor the .
<br /> tull amount of the indebtedness then or 1he�eaRer,secured hereby,or the rlghts or powers of the Beneficiary or the Trustee
<br /> wtth respett ta tKc rcroslnder ot such prcyferty.(w!rw�nnvey any Qert ot auch prope►tY,(b)consent to the making of any
<br /> � mep or plat thereof,(c)�oin in graMing any easemeM thereon,or(d)join fn any extension a�reement or eny eaeement ;.
<br /> � subordineting the Ifen or charge hereof. �
<br /> ' ' FULL RECONVEYANCE:That,upon written requeat of Beneticiary stating that all sums sacured hereby have been paid
<br /> . and all obligations secured hereby have been satlsfactorfly pertormed,Trustee ahall reconvey,without werranty, the
<br /> property then held hereunder.The recitals+n such reconveyance of any mallers of fact shall be conclusive proot of the
<br /> truthfulness thereof.The grantee in such reconveyance may be designated as"the person or persans legally entitled
<br /> � thereto". Such requests and reconveyance ahall operate as a reasslgnment of the rents, Income, issues end protits
<br /> ► hereinbefore assfgned to the Beneticiary.
<br /> � HIGHT TO COLLECT AND RECEIVE RENTS AND PROFITS:Notwlthstanding any other provisions hereof,Beneficiary
<br /> � � � hereby grants permission to Trustor to collect and retain the rents,fncome,issues and profits ot such property es they
<br /> � become due and payable,but reserves the right to revoke such permission at any time,with or without cause,by notiCe in
<br /> wrlting to Trustor, mailed to Trustor at his last known addr�ss. In eny event, such permission to Trusto� shall be
<br /> ' . automatically revoked upon detauN hereunder by Trustor. . � ,
<br /> fINANCiAI INFORMATION:Trustor will provlde to Beneficiary,within 90 days ot the close of eaCh tfscal year of Trustor,a
<br /> . , � I consolidated balance sheet and atalement of earnings of Trustor and any and sll guarantors of the obligations secured
<br /> hereby and will provide and deliver to Beneffciary auch other tinancial information and in such manner as Beneficiary may .
<br /> � � direct from time to lime.
<br /> 3 I
<br /> FINANCIAL COVENANT:Trustor shall c�mply with and shall c8use any and all guarantors of the obligation secured
<br /> ;� ;� I herebytocomplywith,o►beincompliancewlth,thelollow�ngfinancialcovenants:(Th�sparagraphshallbenon-applicable
<br /> ,':,',i, if covenants end reqwre�nents are not tilled m below.)
<br /> ��.� ,
<br /> . i
<br /> �,
<br /> ; � -
<br /> �
<br /> � EVENTS OF DEFafJLT:Any of the tollow�ng events shall be deemed an event ot detault hereunder:
<br /> (a)Defeull shall be made in the payment of any instdt�ment of principal or interest nr any othersum secured hereby when
<br /> �, due;or
<br /> � (b) Trustor should breach �r otherwise be�n detault under any term,covenant, agreemenr,condition,or prowsion
<br /> contamed herein or in any building ban agreemenl oi in any olher agreement secured hereby:or
<br /> � (c)Any representat�on or covenant made herein,m any bwld�ny loan agreement.or m any othe�agreement secured
<br /> . hereby or given in connection herewith or any�ndebtednass secured hereby should be lalse or misleading,or
<br />
|