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<br /> nbtlflaatlon to Trueto�and Bonof141ary.ln the event any polloy hereunder Is not re�ewed on or betore f Ifteen(18►days prlor to ,
<br /> Ite expiretton date,Ttuotoo or Buneftolary may proauro auch Insurance In accordanae with the provisions of Pa►agraph 7. . . .. � „
<br /> Truetor shatl dellvor tc�8onofloiary the orlpinal potlole� of fnsurunae and renev�ats thereof or coples of auch poticles and
<br /> ronewa�a tha�eof. FAI{ure to ti?urnteh auah inaurence by Trustor,or renewsta as required hereunder, shail,at the option of � • „ ' �
<br /> � Beneflalary,con8titute e defaeit.Alt unearnod premiums are hereby aosigned toTreutee as additionat securlty.and a sate and ,
<br /> , conveyence ot tho Propeny by tha Trustee ebail opetate to convey to the purchaser the Truetor's Interest In and to all potla►es �
<br /> .. ' of Insurence upon the Truat PropeRy. � ''
<br /> b.Taxss and Asussm�at�.Trustor shal I pay ali taxes and apealal aasesements levled or aeseased agatnet,or due upon,4he ..
<br /> Property before dell�quency and wlll de�iver to Bene}lolary coples ot rer,elpts ehowing payment of euch taxea and apecial
<br /> .. asaessments.
<br /> � 8.Adtlitloml ll�ns.Truetor�hail make ail payments of interest and princlpai,a�d psyrrtonts o4 any a4her chargcas,tees,and
<br /> � � expenaes contraated to tse paid to any extsting tien hotders or prfor benetfolarias u�dcar any prlor Oead o4 Tr�nst,Mortgage or
<br /> other security agreement,befora the da�e they are deiinquent and to pay any other claim uuhfch Jeopardlaos HP►e secuNty
<br /> granted herein. I'
<br /> T.Proteation ot 8o�aa4Gcley'e Soau�lt�►.Shouid Truator tait to ma0ce Any paymeat,fatl to do any aot as herein provlded or I4 !`
<br /> any aation ot proceedinp is�orn��nenaed which materiatiy a4fects BeneNotary's Interest fn the Property,Including,but not 'i
<br /> Iimited to,eminent domain,insotv�noy,arrangemonts ac pemsoedings Involving a bankrupt or decedent,them Bmeeoficiary or
<br /> . . T�ustee,but without obilgatton to do so,and without no49�o 40 or demand upon Trustor,and without reieasi�p 4ous40r from any �:
<br /> ' olbigation hereunder,may ma0c0 or do tho sacn�a aees8 mmy p�y,purchaee,contest or compromise any encumbvan�e,charge or k .�,•:;�•'
<br /> ilen.which in ti�jud�ri�ent o4 o►tC�er a�r�saa:s @m�i�ec!sti�d Property;in exerclsing any such powrer�,tP�o Bone46claQy or Trustee . , .
<br /> may inaur a Itability and exp�u�d�rRatever amounts„inotuding diaburaements of�eaeomnbt�attormey's tees,�vQ�ICh In thelr ab ;,:.`a;
<br /> solute discretion may be necessc3ry. In the event that Ttuator ahail fati to procure te�s�aQance,}ail to pay taxea�nd speciai , _; ,,
<br /> essesaments or tali to make any payments to exisit�g or prfor Hen hoiders or beneflciaci�s,the 8eneficiary m3y procure such I :` '�
<br /> . tnsurance and make such payments.Atl sums incurred orexpertded by 8en�ffciary or Trustee In accordance with the provl• �
<br /> � sions oi the Qoed of Trust are secured hereby and,without demand,shali be immedlateiy due end payable by Truator and sh�11 r
<br /> � : bear lnt�rest at BP�e rate provided for advancea under the Loan Agreement; provided, however, that et the option of tQ�e t „
<br /> ' � Bereo4tcfary or Trustee,such sums may be added to the principal balance of any indebtedness secured hereby and shatl bear .
<br /> ��•.��� �,,. the seme intereat as auch indebtedness and shail be payabie ratab{y over the remaining term thereof. ; ,'.^
<br /> 8.Assipntn�M of R�Ms.Benefictary shali have the rlght,power and authority during the continuance of thia Oesd of Trust to ; R,�,,--
<br /> � ' cotlect the renta, Iasues and profits of the Property and of any personai property Iocated the�eon with or without taking f :- : .,
<br /> possesslon of the Pro�erty aHected hereby,and Trustor hereby absoluteiy and unconditlonaliy a�sigms atl such rents,issues ,,,,,,��
<br /> �,.; �• and profns to Beneitciary.8ennficisty, howsvsr, �srstsy ccnsents tQ tha TrusLar's�o!!$ctien e�?�Qtent�on of auch rents; � _.._... ._� ._��, •
<br /> , � � tssues and profits as they accrue and becom�payabie so long as Trustor is not.at such time,in default witRe respect to pay : �.. , ,
<br /> , .,' `.�. ment of any fndebtedness secured hereby or in the periormance of any agreement hereunder. Upon arop such default, '..�'�� ,��
<br /> 8eneficiary may at any time,elthet In person,by agent or by a reaeiver to be appolnted by a court,without notice pnd without ' �';;`��
<br /> � " , �egard to the adequacy of any security for the indebtednesa hereby secured:�a)e�ter upon and take possession of the ProR�r- J
<br /> ty or any part thoreof and in its own name aue for or otherwise coltect such rents.Isauea and protits,including those past due I ,��
<br /> .+:•:; and unpald,and apply the same, Iess costs and expenses of operation and coftection, Inctuding reasonable attorney fees, � ��.;:;i
<br /> • . upon eny Indebtedness secured hereby and In such order as(8eneffcfary may determin�;(b)perform such acts of repafr or pra �;��;:;
<br /> tection as may be necessary or proper to conserve the vatue of the Property;(c�lease the same or any part hereof for such ren• �• •
<br /> tat term and upon such conditlona as its Judgment may dictate.Uniess Trustor and Beneficlary agree otherwise In writing,any ;
<br /> • applicati0n of renta,iseuesor profits to any indebtedness secured hereby shall not extend or postpone the due date of the in• ;,j
<br /> • staliment peyments as provided in the Loan Agreement,and the app�icatlon thereof as aforesald shali not walve or cure any , •,,�!`
<br /> default or notice of defauit hereunder or invaiidate any act done pursuant to such notice.Trustor aiso assigns to Beneficiary,
<br /> `�`�� ��. as further security for the performance of the obligatfons secured hereby,ait prepaid rents and ell monles whiah may have �.
<br /> been or may hereafter be deposited with said Trustor by any lessee of the Property,to secure the payment of any rent,and ,
<br /> upon defautt In the (serforamnce of any of the provisiona hereof,Trustor agrees to deliver such rents and deposits to the
<br /> 8eneficiary. Deltvecy of wrltten notice of Beneiftcary's exercise of the rights granted hereln to any tenant occupying said 'c�
<br /> premises ahait be suf4icient to require said tenant to pay safd rent to the Beneficlary untii turther notice. � �
<br /> :�:'� 9.Condemnetlon.tf tftle to any part ot the Property shall be taken In condemnation proceedings,by right of eml�ent domain .
<br /> �,.: ,
<br /> ;,, �� or similar action,or shall be sold under threat ot condemnation,a�l awards, damages and proceeds are hereby asslgned and ,
<br /> shali be paid to Beneflcfary who ahali apply auch award,damages and proceeds to the sums secured by the Deed of Truat,
<br /> wlth the excess, if any,pald to the Trustor.
<br /> 10.Future Advences.The Loan Agreement paovides for advances from tirne to time to Trustor by�eneflcfary as p�ovided
<br /> therein.In addition,upon request of Trustor,8eneficlary,at Beneficiary's optlon,prio�to reconveyance of the Property to the
<br /> Trustor,may make additionat future advances to the Trustor.Such future advances,with fnterest thereon,shall be secured by
<br /> "' this Deed of Trust when evldenced by promissory notes stating that safd notes are secured hereby;provided that at no ttme
<br /> shati the securecE p�Incipal and future advances,not including sums advanced to protect the secu�ity,exceed one hundred per-
<br /> I�� cent(100%)of tt�e ariginal principai amounts secured hereby.
<br /> 11. ileme�6Doa�a�muletive. All remedfes provided in this Deed of Trust are distfnct and cumulative to any other righ4 or
<br /> ���� � i rerre¢a�under chis Oeed of Trvst�*aftorded by Iaw or eqe��ty a�d may�e exercised co�currentiy,independent ty or successove� :
<br /> �Y•
<br /> '. 12.Accetera9U�n;Remedlas;Sate.A d�fau�t 9ha►t exist�n the event o4=
<br /> � (A) Any ftaud or misrepresentation by the Y►ustor�n connection wiL��:r.e line of credit whicD�Er.:s Oeed of Trust secures;
<br /> ��;'I (�) A�y faiture on the part of the Trustor to m�et the ropayenent terms tn respect to tbe Loan P��reement and any other ad•
<br /> �'::�;t. "I vanCes under this Deed of Trust hereby seCUred:artd
<br /> ' t (C) Any action by the Trustor prohlbited by the terms oP��:�',.oan Agreement or t his Q�ect of 7rust or any fallure of the Trustor
<br /> . ' �I ...�►.:�h....w..I T...a.� .n�.,h n� .uhinh T►•�e}nr hnsohv an►AwC hAVA Aff Af�VAt4P A}-
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<br /> � fect on the�eneficiary's secu�ity for tRe fine o4 cr�d�t estabtish�d and the rights of the Qerteficiary In such security,
<br /> , and upon the nappening of any such event o4 d@fault.��ne4iciary may dectare ali sums secured hereby immediately due and
<br /> . : . � payable by de�ivery to 7rustc�e of wrftten declaratfon of default.The Trustee shall have tne pow�r of sale of the Property.and�f
<br /> , I 8eneficiary deafres the Property to be sold, ft shall depostt with Trustee this Oeed of trust and ait prom�ssory notes a�d
<br /> documents eviaencing expenditures secured hereby and shalt deitver to Trustee a written notice of default and election to
<br /> cause the ProFerty to be suid,and the Trustee fn turn shalt prepare a notice i n the form required by taw,wh�ch sha11 be duly fu•
<br /> ed for record by Trustee.
<br /> (A1 After the tapse of such time as may be requlred by la�r following tho recordatlon of sald notice of defautt.and notice of
<br /> default and notice of sate having been glven as requ Ired by taw.Trustee. wlthout demand on Trustor,shat I selt the Proper•
<br /> . ty on the date and at the tlme and place desfgnated fn said notice of sate.at pub�ic auctlon to the hlghest bidder.the pur•
<br /> Cfiase prfce payabte in lawful money ot the United States at the time of sale.The person conducting the sate may.for am�
<br /> � cause he deems expedlent.postpone the sale from tlme to time untit it shall be completed and.fn every such case.not�ce
<br /> - NFIJ1NTre01
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