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<br /> - notlllcatlon to TrustN and B�n�fial�ry.In th��wnt�ny poltay ha�under 1�not r�rnw�d on or b�for�flftNn(1S)d�ys prinr to
<br /> r;�-`.,�,..;Y'�;;; it�txplrat�o�,d�t�Tr4stN or B�nNlai�ry may proouro tuoh intur�nc� In aacord�nc�wlth th�providon�ot Panpr�ph 7.
<br /> ` • Trustor sh il*d�u r to.Wn�flalary th�ori�lnat poliot��of Insuranc��nd��n�w�is th�rsof or r,opis�of �uah pollcin and
<br /> � " �;�,�;,t.uw , rm�wals th�nof. Failur�to turnl�h euch Insuranc�by Truitor, or nn�w�la�s rpuind h�nunda. �h�it,at th�optlon ot
<br /> �'�"''�' ' f. � B�nNialary,con�tltut�a d�fu�it.All un�a►n�d pnm�ums�r�h�nby assipn�d to TnutN�s additional a�curlty,and a sxl�and
<br /> l�� '` �� conwyanc�of the Property by the Tru�tN shati op�rat�to conwy to tiw purahas�r ttw Trustor's Interoat in nnd to all pollalea �
<br /> • "�+�<� -�'`�' "�� �! of Inturanc�upon th�TruN Prop�Ry.
<br /> �- •• •- � 6.T�xN�nd AssNS�n�nts.T�ustor�hali pay alt tax�e�nd�p�ci�l�sus�ments Iwisd or ass�ss�d ap�tn�t,or dus upon,th�
<br /> ^?•' • ' � Prop�tty b�(on d�linqu�nay�nd wlll d�llwt to B�n�tlol�ry copl�s of r�cNpt�showlnp paymsnt of suah tax�s�nd�p�alal
<br /> �`:�=� y. ,, sns�ttm�nts.
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<br /> __;_:� � � . . d.Addltlond L{�n�.Trwtor ahail maks all paymsnts of Int�rest and prinolp�l,and payments of any other oharpsa,fses,�nd !
<br /> �xpens�s contracted to b�patd ta any�xistlnp Ilsn holdK�or prlor beneflcl�rlss und�r��y prlor Dsed of Trust,Mort��p�or
<br /> _ � .. .•�- ,�, oth�r sscurHy apreemsnt,bstor�ths data th�y ar�ddlnqwnt and to p�y any other alafm whlah Jeopardfzee th�s�aurity —
<br /> =��' yrantsd h�roln.
<br /> �►. , 7.Prot�aUon ot 8�fial�ry's 3�cur�ty.Should Trustor fall to make any p�yment,fall to do any aot aa haretn provlded or Ii
<br /> any aation or proc�edinp ts commenced whlch materialty aftects Bensfioiary's interest In ths Property, inaludinp, but not
<br /> •� �� � Ilmlt�d to,emirnnt domaln, Insolwncy,arranpements or procesdin�a invoivinp a bankrupt or dscedent,then Beneficlary or
<br /> Trust�e,but without oblip�tton to do so,and without notics to or demand upon Trustor,and without reteasinp Tru�tor irom�ny
<br /> . olblpetton hereunder,mey maks or do the s�me,and may pay,purchass,conteat or compromiae any encumbrance,charfle or _
<br /> • . Iien,whlch In the Judpment of etther appeara to aifect esid Property;in exerciainp any such powera,the Ben�ficiary or Truatee r_
<br /> m�y Incur a Iiabitity and expend whatsver amounts„inoludfnp disbursements of re�son�ble attorney's fees,which in their Ab�
<br /> aolute dlacretion msy be necesaary.U the event that Trustor shatl fail to procure Inau�ance, fail to pay taxes and special _
<br /> �aaeanments or tai�to mtke any payments to exisitn�or prlor ifen holders or beneflalarlea,the Beneficlary may procure such --
<br /> • insurance and make such paymente.At�sums incurred orexpended by Beneficiary or Truetee In accordance with tha provi-
<br /> alo�s of the Deed of Trust are secursd hereby and,without demand,shatl be immedlateiy due and payabie by T�ustor and shall
<br /> bear Interest at the rate provide�l for advances under the Loan Apreement; provided, however, that at the optlon of the �_�
<br /> 8�nsticl�ry or Trusteo,such sums may be added to the principal balance of any indebtednees secured heroby and ahall bt�r �
<br /> ths��me Intereat as such i�debtadneas and shall be payable ratably over the remaininp term thereof. �
<br /> , 8.Assipnm�nt of R�nt�.8eneficiary shall have the ripht,power and authority durin�the continuence of thie Oeed of Trust to
<br /> collect the renta, iaeues and profits of the Property and of any personai property located thereon with or without takinp
<br /> = poasesslan o!!hs Pro�SRy aftec*.e�+hereby,end Tr��!tor hereby abaolutely and unconditionaily aaelpna nll such rents,leaues �..-.
<br /> and profita to Be�eficisry. Beneficiary, however, hereby consenta to the Trustor's coitectlon and retention of such rents, �_
<br /> lasues and proflta aa they accrue and become payabie ao lony as Tr�,stor Is not,at such time,in default with respect to pay �—
<br /> ment of any indebtedneas aecured hereby or in the performance of any apreement hereunder. Upon eny auch dsfautt, �i�
<br /> Beneficlary may at any time,either In person,by apent or by a recelver to be eppolnted by a coun,wlthout notice and without � -
<br /> re�ard to the adequacy of a�y security for the indebtedneas hereby aecured:(a�enter upon and take possession of the Proper-
<br /> ty or any part thereot and in its own name sue for or otherwlae caliect such rents,isaues and proflts,includinp thuse paat due .
<br /> I and unpald,and appiy the same,�eas costs and expense�of operatlon and collection, including reasonable attorney fees,
<br /> upon any Indebtedneas aecured hereby and in auch order as Beneflciary may determine;(b)pe►form such acts ot repair or pra
<br /> tectlon as may be necesaary or proper to conserve the vaiue of the Property;(c)leaae the same or any part hereot for auch ren• :
<br /> • t�l t�rm and upon auch conditlons as its judpment may dlctate.Unieas Trustor and Beneficiary aqree otherwtae In wrltinp,any �.;
<br /> � apptication of rents,lasues or prof►ts to any Indebtedness aecured hereby shnit not extend or posipone the due date oi the in-
<br /> atatiment payments as provided fn the Loan Ayreement,and the applicatlon thereot as aforesald ahati not waive or cure any
<br /> def�ult or notice of detault hereunder or fnvatidate any act done pursuant to suCh notice.Trustor aleo assl�ns to Beneficiary,
<br /> as further aecurity tor the perfo�mance of the oblipatlons secured hereby, all prepald rents and all monles whtch may have
<br /> � been or may hereafter be deposited with eald Trustor by any lessee of the Property,to secure the payment of any rent,and k
<br /> upon defauit In the perforamnce of any of the provlsions hereot,Trustor agreea to deliver such rents and deposits to the .
<br /> 8eneticlary. Qelivery of written notice ot Beneificary's exercise of the rlqhts flranted hereln to any tenant occupyln� sald � .
<br /> ; premises shalt be sufffclent to requlre said tenant to pay said rent to the Beneficiary untli further notice. j
<br /> � 9.Cond�mnatlon.�f title to any pert of the Property shall be taken in condemnatlon proceedtngs,by riqht of eminent domain
<br /> � or simllar action,or sha�l be soid under threat of condemnatlon,al�awards,damapes and proceeds are hereby asstqned and t
<br /> � ehaN be paid to Beneficlary who shail appiy such award,damafles and proceeds to the suma aecured by the Deed ot Trust,
<br /> I with the excess, if any,paid to the Trustor.
<br /> 10.Futuh Advanc�s.The Loan A�reement provides for advances trom time to time to Trustor by Beneticiary as provided
<br /> � therein.In addition,upon request of Trustor,Benefictary,at Beneficiary's option,prlor to reconveyance of the Property to the
<br /> I Trustor,may make additional future advances to the Trustor.Such future advances,with interest thereon,shall be secured by
<br /> this Oeed ot Trust when evldenced by promissory notes stating that said notes are secured hereby; provtded that at no time
<br /> . � shell the secu�ed principal and future advances,not including sums advanced to protect the security,exceed one hundred per-
<br /> f cent(100%)of the orffllnal principal amounts secured hereby.
<br /> � 11. FUm�dl�s Cumul�ttv�.AII remedles provided In this Deed of Trust are distfnct and cumulatfve to any other right or
<br /> � remedy under thls Deed of Trust or eiforded by Iaw or equlty,and may be exercised concurrently.Independentiy or suctessfve-
<br /> . ' l y.
<br /> ' 12.Aac�IKatlon;R�m�dt��;Sal�.A defauit shaU exlst in the event of:
<br /> • � (A) Any fraud or mfsrepresentatlon by the Trustor tn connection with the Iine of credit which thls Deed of T�ust secures;
<br /> (B) Any failure on the part of the Trustor to meet the repayment terms tn respect to the Loan Aqreement and any other ad-
<br /> , vances under thia Deed of Trust hereby secured:and,
<br /> _ � tCl Anv action bv the Trustor nrohiblted bv the terms of the loan Apreement or thls Oeed of Trust or any fetlure Of the Trustor
<br /> ` � to act as required by the Loan Ayreement or thfs Deed of Trust.each of which Truator heroby agrees have an adverse ef-
<br /> , tect on the Beneficiary's seCUrity tor the�ine qf credit established and the riyhts of the Beneficl�ry fn suCh seCUrity.
<br /> � ,
<br /> { ; and upon the happening of any such event of defauit.Benetic�ary may declare atl sums secured hereby fmmedtately due and
<br /> ' payable by detivery to 7rustee ot written declaration of defautt.The Trustee shal l have the power of sale ot the Property.and if
<br /> '� BenefiClary deafres the Property to be soid, ft shatl deposft with Trustee this Deed of trust and a�t promissory notes and
<br /> � documents evtdencfng expenditures secuted hereby and 3hali deliver to Trustee a written notice of defauit and electlon to
<br /> � cause the PrnFerty to be sold,and the Trustee fn turn shall prepare a notfce i�the}o►m requfred by law.which shall be duly fil-
<br /> i ed tor record by Trustee.
<br /> ! (A) After the lapse of auch time as may be requfred by law foilowing the recordatlon of said notfce of default,and notice of
<br /> detauit and notice ot aale havinq been qfven aa requlred by law,Trustee.wlthout demand on Trustor,shati se�l the Proper•
<br />� '► ty on the date and at the time and place desipnated In said nollce ot s�le,�t pubttc auction to the htyhest btdder,the pur-
<br /> chase prfce payable in I�wful money of the Unfted States at the tlme of sale The person conducting the sale may,for any
<br /> ' cause he deems expedient,postpone the saie from tlme to itme until it shatl be completed and.�n every such case.not�ce
<br /> MFSptS��qpi
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