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<br /> • � • charges or to makc any paymcnli to any cxfsting prior licn hnl�crs or bcncliciarics, Dencliciary may procurc tucn .. � � ,
<br /> insur�nca ancl makc such paymcnt.Any amounts Jisburscd by Dcncliciary pur►ua�i co U�is Raragroph�6 shall 6ecomQ > ,;'-�,�';;;.
<br /> • additional indcbtcdnc�i ol T�wtor �ecurcd by thls 7rust Dccd. Such amounts shall bc payablc upon notica Itom �`r'�=%`ti`��4���--�.
<br /> , •� Ocnclieiary to 7ru�tor requc:tinp poymcnt thoraof, and sl�all boat intcrest Irom thc dalc ol disburscmcnt ac the rata .•�.�.:,.Q•:u��*•��=.
<br /> paya4lo tram tlmc t�timoon outswndinp princi�ol undor thc Notc unlas paymcnt cl intcresc at such rato would Uc Y-r�ti,------
<br /> contrary to apP��ca��c law,in whieh evcr�t auch amounis al�ai! bcar intcrest at�thc h(ghctt ratc�crmisslhlc un�cs �m,� :
<br /> appltc�hlc law. Nothing cont�Incd in thls Parograph G shaU rcquirc Ocncllciary•co Incur�ny expcnse or takn�ny �'°'`Yrt___�
<br /> • action hcrcundcr. ' �"'.�t,�-����°-__
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<br /> 7, Assinnmcnt a(Rcnt:. Ocnaliciary shall havc thc rir�ht, powcr �nd auihorlty durinp lho tondnuanca of �in_��t�-
<br /> thls Trust Oced to callcct thc rents,Issues�nd profits oI the Properry.and ol any penonal proper6y loeated thareon �:>>;�,:� -
<br /> wlth or wi[hout wlcin�� poiscssion ol tl�c propr,rry aflcctcrl hcrcby, and Trustar ticrcby abiolutcly and uncond[• �"�'•'''_--_
<br /> tlonally assi�ns all sucb rcnts, issucs and pto(its to Qcnclicia�y. Ocncfieiary, howevcr, hctcby conscnu to !h� -____—
<br /> • • Trustors collcction �nd �ctcntlon of such rcnts, issucs and prolits as thcy accruc and bccamc payabla so long�s _---_ _
<br /> �� Trustor is nat, at such time, in delault with re�peet io payment of any indebtcdness secured hernby, or tn tha = _
<br /> ' , performancc of any agracmcnt hcrcundcr. Upnn any such dclault, E3cnc(iclary may at any timc,cithct(n pctson, �....-
<br /> . by apcnt,or by a reecivcr to bc appointcd by a court,without noticc and withoUt`rcgard to thc adcqu�cy o!any • �
<br /> sccurity tor thc indcbcodncss hcreby sccu;cd,(a) cntcr upon and takc posscssion of tha Propctty or any part thC�cof,
<br /> and tn its own namc suo for or othcnvisc collcc[such rmts,issucs and pra tils,including those past duc and unpald. ` ��
<br /> � and apply thc samc, Icjs costs and expanscs of operation and collcetion,including rcasonablc attorneys fccs,upon ---
<br /> �� any indcbtcdncss sccurcd hcrcby,and in such ordcr as Ocncticiary may Jctcrminc;(b)perlorm such acts of rcpa(r or �--:,_��.
<br /> � � � protection as rnay be necessary or proper to conserve the value of the Properry; (c! lease the same ot any pM _�__ _
<br /> ' thcrcof (or such rcntal,tcrm,�nd upon suCh conditions as iu uJ mcnt nw UicWtc ar tcrminatn or ad'ust thc tcrms ° _—
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<br /> and cond(tion: �f anycxisting Icasc or tcascs.Unlcss Trustor and'Ocncliciary aqrco otltennisc in writfnp,any applira• —=
<br /> tion of rcn�s, issucs or prolits to any indebccdncss sccurcd hcrcby shall not ex�cnJ or po�tponc tlie duc date o!tlic
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<br /> �� insWllmcnt paymcnts�s providcd in said promissory notc or changc thc arnounR,ot such insWllmcnts.7hc sntcrinr� ,._ -
<br /> upon and taking posscssian o( thc Property, thc collcction of such rents, issucs and pro(its,and thc�ppltcation , :-
<br /> th¢tcol as aforesaiJ, shall not waivc or curc any dclault or no�icc of dcfault hcrcundcr, ar invaltdatc �ny actdane �H''a��
<br /> . . .�� s-:
<br /> - ____—_.___._ s��� �� .�,�ti ,,,,r��n Tn��rnr�Itn�ttigns to Ocncliciary, as further secutity lo� Ihe pCrformanCC•o(thC Oblj9i• ' ��^- -�--`
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<br /> . tions sacurcd hcrcby.�II prcpaid renu and aII monics which may havc becn�r may hcrcaftcr bc deposited with said
<br /> , . .. .
<br /> ' Truslor by any Icssec o( thc Property, to sc�urc thc paymcnt of any rcnt or•darnagas, and upon dcfault in thc � _ _-
<br /> pert4rmancc o( any of thc provisions hcrcol,7rustor agrccs to dclivcr sueh rencs and cicposits to Bcncticiary. Oc• ;;;a._
<br /> livery ot written notice o f Oeneliciary s exercixe of Ihe ri9hes grontetl herein,to ary.tenant occupylnp said premises
<br /> shaU be w(ficient to�requiresaid tenant to pay said rent to the Oene(iciary until IurthernoUce. �,`�____
<br /> .. . � �r��s._
<br /> .' 8. Condemnaiion.II titic to any port of thc Property shall bc taknn in.eondemn�tion procccdinfls, by '� "°'��,�
<br /> rtpht o(cmincnt domain or iirnilar action, or shall pc sold und¢r thrcat o[ condcm�ation,all awards,damagcs�nd � �
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<br /> proceeds are horcby assi�ned and shall bc�aid to Oeneliciary wbo shall apply sueh.awards,damages�nd proceeds'to •�,.r};�
<br /> � - tne sum sceurcd by this Trost Oced,w(th thc cxeess, if any,�aid to 7ruuor.If Trustor rccafves any notice ar othet + s-
<br /> � . information regarding iuch actions or proceedings, 7rustor shall �ive promp�w�itten notice thereot to Oeno(tciary. `" .i?�:;;
<br /> Benc(ieiary shall bc cntitled,at iu opt(on,to commencc,appcar in and prosccutc,ir its own name aoy such actto�or �f• ':-�-_
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<br /> proccedlnps and stiall bc cntiticd to makc any compromisc or sctUcmcnt.in.connc4{io�with any sueh act(on or �.=
<br /> . procccdings. , , , .. , . .
<br /> �, Future Advanecf. Upon requcst o(Trustor,Eicneficiary at Dene(iCiary�s opifon,,prior to recOnveyance of
<br /> , tlie Property to Trustor moY makc tuturc advanccs to 7rustor. Such �uturc advenccs, wich 3ntcrest thetcon.sholl "
<br /> • be secured by tliis Trust Oeed whcn evidenced by promissory noles stating tha! said notes are seeured hereby. •
<br /> . 10. Remedies Not Exelusive. 7rustee and Qeneticiary,and each ol them,shall be•entitled �o enforee pay- ��'
<br /> . rnent �nd performaneeo! any indebtedness or obligations secured hereby and[o exerciie all righes and powers under ,
<br /> ' this 7rusc �ccd or uMer ony other �c�rcemcnt cxccui�d in connection hcrcwith or any laws now or here�Pter in
<br /> force, notwithstandin9 some o�all af the such indebtedness and obligations seeurcd hereby may now or hereafter
<br /> bc o[hcnvisc sccurcd,whcthcr by mort�agc,ciccd of trust,plcd�c, licn,assignmcnt or othcrwisc.Ncithcr thc acccp-
<br /> wncc o( this Trust Dccd nor its en(orccmcnt whcthcr by cour t ac�ion or pursuant lo thc powcr o( salc or othcr , j
<br /> : powcrs hcrcin containcd, shall prejudicc or in any manncr a((cct 7rustcc�i or Bencficiary�s right to rcalizc upon or �.
<br /> cniQree any otl�cr sceurity now on c�rtic�ttcn c�ld by Tru:tec or Ocneficiary,it bcing agrced that 7ruotcc and Bcnc- '.
<br /> ficiary, and caeh of them,shall be entitlCd ;o enforce tliis 7rust Oeed and any olher security now or Noreatter � �
<br /> ' hcld by Ueneficiary or Trustcc in such otdcr and m�nncr as thcy or ciil�cr of thcm may in thcir�bsolutc disuction �
<br /> determine. No remecJyherein eonferred upon or rescrvsJ to Trustee or Ocncliciary is intended to be exclusive of any
<br /> , o►iaer rcmedy ncrcin or by iaw provided or permitted,buc cacli sh�ll be curnulative and shall be in addition to evrry • ;
<br /> olhcr rcmcdy givcn hcrcunticr or now on c�rca(lcr cxistingat law or in cqui ty or by statutc.Evcry powcr or rcmady
<br /> - - _ ...n..:.in.1 h.+.m�o.in� rhi� Ynue flnetl�n Truetrn nr flnnnfir.i�rv nr an whirh nithnr nl them mav Bu ntherwlte entidCd_ .
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<br /> may bn exerciscd, cone�rrently or irtdependently,�lron time to time and as o(ten�s may be deomed expedlent by
<br /> Trustcc or Ocncficiary and cithcr of thcm may pursuc inconsistcnt remcdics. Nothing hcrcin shall bc eonstrucd as
<br /> � prohibit(ng 9eneficiary from seeking a de(icieney judgment against the Trustot �o tha extent such action is pCt-
<br /> � mitted by law. � • '
<br /> ' 1L Transfcr al the PropeRy;Assumnlion. If all or any part of lhc property or any Intcrest Ihcroln Is sold,
<br /> crons�crrcd or convcycd by Truitor without Dcncliciary�s prior writtcn conscnt, cxcluding(a)thc crcation ot a licn
<br /> � or cncumbrance subordinatc to lhis 7ruil Occd, (b) thc crcation ol a purchasc moncy sccurity inccrest (ot housc•
<br /> t � hold aFplfances. (el a traosfcr by dovits,dcscent or by operation ol law upon tt�c dcath ol a loint Icnant or ld)the
<br /> t qro�t of any Icaschold inurest ol three year� or Icss not containin� an opiion in purcliaic Ocncliciary may, ac
<br /> `. ' Bcneliclary s ol�tiun,Jce�arc oll�he sum�sccured by this Trust Occd to bc immcdiatcly duc and payablc;provided.
<br /> * or e) a trans_°er of all or a �ortion of the �iremises to Gili, LLC
<br /> for thc I�urpose of construction of lo�a income housinq.
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