|
�_
<br /> '�' .._
<br /> (.. . . , _�..._._ - - _ __...---�•-- - - -- --.._::. . . ,--- ----_..�_�,__._ . .. . . _' 4.
<br /> , _-
<br /> , , _ • ..
<br /> �.an�,��.:.. .. .,...•�•
<br /> N ,. .
<br /> .
<br /> ��......,��_-'�=--'---_�_...----°-----......---�._._— ._... .._._.._.... --.��_.__���.�.__�._...—- -- ... .. .�_ .._.._. .,.. - ._.
<br /> �., �
<br /> � .tb��dD Q� . ,
<br /> • 7. Thc Bcncfic�ary shall havc thc n�ht, powcr and aud�arity dunng thc contimiaitcc oY'4his7Uccd of'frust to collcct I:ic rcnts, ,�:.
<br /> �ssucs uid profits of thc property and of any personal propcn}• locatcd thcrcon wnh or wiQiout takinb posscsston o1�hc prop�rty -
<br /> afYected liereby,and Trustors hereby absolutely and unconditionally assign all such rents.issues and profits to the benefi�;ary, The
<br /> • ° beneficiary, however, hereby consents ro Trustors'collection and rctention of such rents.issues and profits, so lon�as Trustors nre � '
<br /> not, at such time, in default with respect to payment of any indebtedness secured hereby, or in the pedonnance of any agre�:ment --
<br /> hercunder. If any cvent of default dcscribcd hcrcafter in respect to this Ucui of Trust shall havc occuncd and bc continuinb, thc ._,:�•
<br /> „ " Beneficiary.as a matter of ri�ht and without notice to Trustors or anyone cluiming under Trustors.and�vithaut re�ard to the value of �,�
<br /> ' •• the tiust estatc or the interest of thc Trustors thcrein,shall ha��c the nght to apply to any coun hnving�unsdiction ro appaint a � ° ---
<br /> • • rcccivcr of thc property. �`'�`:�`•��. _
<br /> 8. The Beneficia or iu a ents,are authori�.ed to enter ac any reasonable time u n or in an �'+��� . ___
<br /> ry, g po y part of thc property for thc
<br /> purposc of inspccung the samc and for the purpose of perfornung any of the acts thcy arc authonzed to perform under Uie tcrms af �•" ?°_ �"�`�
<br /> ..,a-.-_
<br /> • an}�loan instrumcnu exccuted by Tnistors.
<br /> 9. If all or any part of the property or any interest of Trustors is sold, transfcrred or furthee encumbered without the�vrittcn }••�-�••�•:r
<br /> � cansent of the Benefic�ary,the Beneficiary may declare all sums secured by this Trust Dced to be immediately duc and payable and . ,;'�;,w.:'��
<br /> , prococd to the remcdies available to it undcr the dcfault provisions containcd herein. ;;�":`'r•;=-�^
<br /> •.;�;n�•ti:,-----
<br /> , 10. Any of the follo�ving cvenu shall be deemcd an e��cnt of default hcrcunder: • � �,�`- ,,:,,�;`sc�.�
<br /> a. Tn�stors shall have failed to make payment o1'any installment of principal or interest or any other sums secured hereby when ''""'��'-`�4�'a�'��--
<br /> . .,�.ti��,,;�:r.s�
<br /> , • duc: ' —=-_°°=--
<br /> b. There has occwreci a breach of or default undar any term, cove��ant, agreement, condiuon, provision. representation or �--? -
<br /> � �varranty contained in this Deed of Trust.tt�e note or�ny other loan instniment securecl hereby; 1�•°��'''-'�----�-°°•
<br /> :. :.`��;:�-__: _
<br /> , c. There has been a default by the Trustors in the payment of any prior or subsequent lien or cncumbrance in respect to all or any _.. ---•
<br /> part of thc property; "�---
<br /> �`..��'�"=�_:-
<br /> d. Trustors shall file a voluntan� pctition in bankruptcy or shall bc adjudicated bankrupt or insolvent, or shall make an .�z-�-�
<br /> . F:.�....�.�;-�__
<br /> assignmcnt for thc bcnefit of creditors�n respect to the property;or an acuon ro enforce any lien or encumbrance ot jurlgments :..-=���-
<br /> a ainst thc ra c is commenccd. :'�y�''� �"`�
<br /> B P P rt3' :,,.��;c;.�::--- -
<br /> • . I1. ln thc cvcnt of any default.thc Bencficiary may declare all indebtcdness sccured hereby to be due and pay�ble and the same :°t ri�e.,-a,
<br /> shall thereupon become due and payable�vithout any presenUnent,demand,protest or notice of any kind. Thereafter,the Bencficiary �� �
<br /> :�
<br /> may: —
<br /> 1. either in person or by agent, with or without brin�ing any action or proceeding, or by receiver appointed by a wurt and
<br /> � without regard to the adequacy of any security,emer upon and take possession of the property,or any part thereof,in its o�m ,' .�
<br /> .^.3SY:� 0: :P. :h� Sl^P.:� Of th� Til25!:�. 3A� �� any arjc wh2rh it �1�r�c �rrrccgrv ��rl rlrci[2r�r I��,+rrct�ry� t�n y��1n. _�.
<br /> ft.
<br /> marketability or rentability of the property. or part thereof,or interest therein, increase the incomc therefrom or protect the •..,
<br /> security�hereof and.�vithout taking possession of the propert}•,sue for or othenvise collect the rents,issues and ptofits thereof, '�r
<br /> including those past due and unpaid, a�id apply the same, Iess costs and expenses of operation and collection, including '` .
<br /> attorney fces.upon an}•indcbtcdness securcd hcrcby.all in such ordcr as the Bencficiary may determine. The entering upon i'. �,
<br /> and taking possession of thc trust estate,the collection of such rents, �ssues and profits and applicauon thereof as aforesaid ,�•
<br /> shall not cure or�vame any default or notice of default hereunder or invalidate any act and in response to such default or Ifi. �
<br /> pursuant to sucl�notice of default and nonvithstanding the continuance in possession of the property or the collection,receipt '"
<br /> „ and applicauon of rents,issucs or profits,Trustec or thc Hcneficiary may be cntitled to exercise every right provided for in any `�r�^�
<br /> �..
<br /> of the loan instruments or by la�v upon occurrence of any event of default,uicluding thc righl to exercise the power of sale; :� .,.;
<br /> b. commence an acaon to foreclose this Deed of Trust as a mongage, appoint a receiver,or specificall}•enforce any of the �� ;�
<br /> covenants Iteieof. �' 'is, �,��--
<br /> c. deliver ro Trustee a�vritten declaration of default and demand for saie. and���ritten notice of default and election to cause �� ; - ����
<br /> Tnutors'uuerest in the property to be sold.«�hich nouce Trustee shall cause to be duly filed for record in the official records ��'`.,�,, �"
<br /> of thc counq•in�ti•hich thc propcm• ►s locatcd. �
<br /> 12. Should the Bcncficiarp elect to foreclose by exercise of the power of sale herem contained.the Beneficiary shall notify Trustee
<br /> and shall deposit�vith Trustee this Dccd of Trust and the notc and such rcccipts and evidcnce of cxpenditures made and securcd � -
<br /> hereby as Trustee may require.and upon requcst of the Benefic�ary�. the Trustec shall cause to bc recorded.published and delivered � �'
<br /> ,
<br /> to Tn�stor such Noticc of Dcfault and Noticc of Salc as thcn rcquircd b}•la«�and b}•this Dccd of Trust.Trustcc shall without dcmand �;
<br /> on Trustor, after such time as may then be required b}•law and after recordation of sucli Nouce of Default and ailer Notice of Sale ��. �"
<br /> having bcen gi��en as rcquircd by law,scU thc propern•at thc timc and place of salc fi�cd bp it m such Nouce of Sale.eithcr as a ��
<br /> �vhole. or in scparate lots or parccls or itcros as Trustcc shall dccm cxpedicnt. and in such order as it may determinc. at public j
<br /> aucuon to thc highest biddcr for cash and shall dcli�cr�o such purchascr or purchascrs thcrcof a dccd to thc propert}•sold,consistcnt j
<br /> with the la���then in effect. Recitals in the Trustee's deed shall be pnma facie e�•idence of the truth of the statements made therein. i
<br /> Trustee shall appl}•the proceeds of the sale in the follo�ving order(a)to aU reasonable costs and expenses of the sale. including but
<br /> not limitcd to Trustcc's fccs of not morc t hau 2%,of thc gross salc pncc,rcasonablc attorncy fccs and costs of titic c�•idence: (b)to all
<br /> � sums seci�rcd b}� th�s Decd of Trust:and(c) thc cxccss. if an}•. to thc person or persons Iegally cntiticd thcrcto. An}• persan. .
<br /> mcluding thc i3cncfic�an•. mac purchasc said propen�•at sa�d salc Tn�stcc ma�•in ihc manncr pro�hdcd b�•law,postponc salc of all
<br /> or any portion of thc propem•
<br /> 13. Trustec and the Bcncfician•.and cach of thcm,shall bc cnnticd to cnforcc payment and performancc of an}•indcbtcdncss or
<br /> obligation securcd hercb}• and to c�crcfsc ali nghts and po�cers undcr th�s Dced of Trust or under an}• loan instnimcnt or othcr
<br /> agrcement or any la�vs nor on c�rcaflcr c�Jorced not«�ithstanding some or aU of thc �ndcbtcdncss and obligauons sccured hereb�•
<br /> ���hich may now on c�reaficr bc othcnvisc sccurcd. uhcthcr bJ• inongage, dccd of trust. plcdge. licn, ass�gnmcnt or othenv�sc.
<br /> Ncithcr tl►c acccptancc of this Dccd of Trust nor its cnforcemcnt. ��•hcthcr by court action or piusuant to thc pow•cr of salc or othcr .
<br /> - - po«•ers nerem comamed, snaii pnjuciicc or in am•manncr aricci Trus[cc's or tnc ecnci�c�an•'s ngnt to rcaiirc upon or cniorce am�
<br /> other securit}• no��•or here.lfier held by Trustee or the Benefician•. it br,ing agrecd that Trustee and the Benefic�an•. and each of
<br /> thcm, shr�ll bc entitled to cnforcc this Dced of Trust and an}•othcr sccurtn• no�r or hercaften c�ld b}�thc Bcncfic�an� or Trustce m
<br /> . such ordcr and manncr as the}•ma}•tn thcir absolutc discrction dctcrmtnc. No rcmcd}•hcrcm confcrrcd upon or rescn•cd to Trustcc
<br /> or Bcnefician•is�ntcndcd to bc cxclusn•c o(an}•othcr rcmcd}• hcrcin or b�•lati+•pro��idr,d or permtttcd.but wch shall bc cumulau��c
<br /> and shall bc m add�uon to c�•en� othcr rcmcdp gi��cn hcrcundcr or no��•on c�rcaftcr cxisung at la�� or cquit}�or by statutc E�•cn
<br /> ' po�ti�er or remed�� gn•en b�•am•of the loan mstnitnents to TrusteC or Ihe Benefictan� or lo ��htch etther of them m.►�• be othen�isc
<br /> cnuticd ma�•bc cxcrciscd, rnncuncncl}or mdcpcndcntl}•. from nmc to umc and as oftcn as ma�•bc dcctncd cxpcdicnt b}•Trustcc or
<br /> Benefic�an•. a�nd enher o(them ma� nursue inconsistent remedies Noth�ng hereui shall be construed as proh�buing the BeneficiaR
<br /> ; from seck►ng a dctic�cncy��udgmcm.igainst I'nistors to ihc cxtcro such acuon is perm�ttcd by la��
<br /> id Tn►stors hcrcb� roqucst a cop} af am• nourc o(dcfault and tliat am ►toucc of'salc hcrcundcr bc ma�lcd to'Tnistors at thc
<br /> . :�ddross sct torlh�n thc Grst para�;raph of this Dccd of Tn�st '
<br /> i '
<br /> • I ' -----—...
<br />
|