|
. w. . s , ��t . • , ' .. . . ._ ` . c .._ . � . �i` ��. _ z�w �-�.
<br /> „�� �,�, � ti '. r � � - - • � � , . � .'�`t i.,i;
<br /> l - i .� 'y,}� F. . � .:. . . ( : - � : . • � R..
<br /> _ � . 'r. � .t:. _ `r,', .s . " ,. �•' h!t v.-
<br />�}. . ` _ " ' � _�_ , i }�3 �_.
<br />�- .r� . . _ � . , � .�:�
<br /> i� '`c�` c. � . ' c . . . . 4' ���- '
<br /> � �.�.:�-�.
<br /> �. _ � , . . 95--�Ot��� - � �-�
<br /> -�. °. r. . . 4 ;�:,: ; =.
<br /> " by ovsm�r's and operators of stmilar properNes and as Benefictary may require for its protection. Trustor wi8 corppty
<br /> . with sucfi other requirements as Batte�ci m � �. ��x�-
<br />��. •''- : ';� � . �, , �ry sy fram time to time request for the protectfon b insurartce f � � -
<br /> Y o the _ ��°�.
<br />- interest�f the respective partFes. Alfinsurance policies maintained pursuarrt to this Deed of Trust shatl nsme Trustqr ` �
<br /> i` ° ` �`��' � and Beaeficia as insured.es their r f���
<br />._�' �Y espectave intsrest may appear and provtde that there shait be no cancetiation or '
<br /> � - moBifieatton withaut fifteen[75)days prior written notification ta Trustee and Beneficiary. IIV the event any poli ' �
<br /> `'� ' � ' hereundsr is not renewed on or before;fifteen f 15)days priar to iis expi►ation dete,Trustee or Beneficia ma � � ����
<br /> ` ` � N V Procure .�.�.,;':
<br /> � -::.-;' .: _ . • such insuranca in accordance wfth the provisions of Paragraph 7. Trustor sha]!detiver to Beneficiary the or�ginaf --�__
<br /> -�" ` -- -. ;`-�-- Pa�F�ee of tnsurance eitcf rensv,tais thereof or copies of such pollcies and�enewats Yhereof. Faiture to furrush such � ' `' �. �
<br />_�. : , • insurance by Trustor,or�enesaaTs as required he�eunder,shall,at the o tfon of Bane�ici '�� � ' `��''f
<br /> •� . � . uneamed premtums are hereby assigned fo Trustee as addRional securi p �'CO�e a defaul� All . .,c -�
<br /> .. . ty,end a sate and conveyance of the P►operty �.��„
<br /> �;:. �,, � by the Trustee shall operate to convey to the purchaser the T�ustar's interest tn and to a11 policies of tnsurance upon _.._:,. .:
<br />_' - -- � - . � , ths Truat Property. . ,
<br /> ��� " • • 6• Taxes�d Asse�smente. Trustar shall pay ali taxes and speciaF assaasments tevied or assessed against,or � r .?
<br />�:'-;_ • . . . , � �due upon,the Prop�srty before delinquertcy and wiif deliver to Beneficiary copies of rec�ipts showing Payment of sucfl ° ' L
<br />�t .' • • • taxes and special assesgmenis. ' �'a
<br /> . 6. AddWonai Liena.Trustor shall make aU payments of(nterast artd principal,and payments of any oiher charges,
<br />=}.• . , �
<br />-. � fees, and expenses carttracted to be patd to any existing lien holders or prior 6eneficiaries under any ptior Oeed of - � � ',
<br /> . '�,, . •� Trust, Mortgage or othar securtiy agreement, befare the da2e they are delinquent artd to pay any other claim v�hich, ` �� ' '"j `
<br />-�:. `. . � jeopardizes the securlty granted herein. ,
<br /> - • • , 7. �ProLectton of Beneftdmy'$Security. Should Trustor fail to make any payment,fail to da eny�sct as herein !`��,�� �`l����y r�
<br /> ' . provided or if any action or proceeding is cammenced whfcb materiaity effects 8eneficiary's Interest i�the Property, �';j:�.
<br /> -.,.,. �; ' _ . .•s _. .' includ3ng, b�t no limited to, eminent Qomain. Insoivert , arrart ements�or r.�edi r t ` y,=_''�_
<br /> _ . _ �1! 9 p ngs tnvrolvtng_a.bankrLpt-ar- . _ -- -
<br /> � � . �� �decedent;-ther�rB�rteft�i�ry or Titistee;6ut virlt?iout obiFgation to do so,an�without notice to or demand upon Trustur, ^ �'� �
<br /> � .�r�
<br /> � and wlthout releasing Trustor from any oblIgation hereunder,may make or do the same, and may pay,purchase, , ,�
<br /> - , comest or compromise andy encumhrance, Gharge or Ilen,which i�th�judgement of either appears to affect said
<br /> __ �. Prcperty;in exercising any such powers,the Benenciary or Trustee ma irtcur•a Iiabili ,�,�"
<br />=' � - � ` � �.� .. irsctuding disbursements of reasonable ettomey's tees,which in their absolute dis etI n m�y�ti necessarym(n ttie �
<br /> - :. �''�
<br /> : . event that Trustor shatl fail to procure insurance,fail to pay taxes and special assessrtsents or tail to mak�.ffrty • ' ' �—
<br /> � ��_-
<br /> , � , payments to exlsting or prior lien hotders or benefidar(es,t h e B e n e f t c iary may procure such insurance and meke such �� .�` f - ' - -
<br />_ � _ , payments. All sums incurrQd or expended by Beneficiary or Trustee in accordance with the provisions of the Deed of � � � � ,��
<br /> ,: . Trust are secured hereby and,without demartd,shall be immediatety due and payabte by Trustor.and shall bear interest `
<br />_ � ' s i t h e r a t e p r o v i d e d for s dv�nces un der the Loan Agreemeni;pravided,however,that at the option of the Benefiar�ry ' - '� ' �•Y,,.
<br /> : .
<br /> , , or Trustee,such sums may be added to this Rrincipal balance of Eny indebtedness secured hereby and shall bear tite '
<br /> _ : , , • , same Interest es such indebtedness and shatl be payable ratatsi;�over the remaining term thereof. f '` ' � � -
<br /> . � � � 8. Aasignment of Re�.Benefrciary shall have the right,power and authority during the continuance of this peed � ".• �.Y �,
<br /> -.---.y�.-- .-.. � of Trust to collect ths�ents,issues and profits of the Property and of any persona!property focated thereon wfth ar ��=•�,.. , `•,"�
<br /> ° , � without taking possession of the Property affected hereby,and Trustor hereby absolutely and uncortditionally assigns
<br /> • ali such rents,issues and profits to Benefictary. Beneficlary,however,hereby consents to the Trustor's collection and •,``��� �
<br /> .. • '..'� reternion of sta�rents,tssues and proflts as they accrue and become ' '
<br />_�- • In default with res ect to a PeYable so long as Trustor is not,et such time, . . �
<br /> P p yment of any indebtedness secured hereby or in the performance of any agreement .' •4 �x ;,�
<br /> j' , . � hereunder. Upon any sach defautt, Beneflciary may at any time, eiiher in person, by ageni or by a receiver to be �.'
<br /> r . ,.�•. ��
<br />__�''��:�:�::�� ' �� appointed by a court,without nottce and without regard to ths adequecy ot any securtty for the Indebtedness hereby ! �l �� '
<br /> .„ :_ . '��
<br />_.�; ' . � secured: (a) enter upon and take possession of the Pro e or an � �' '� ��
<br /> P n1► y part thereof and In its own name sue for or �' .•y��� �
<br />_ . _ . otherwise collect such�enis,issues and pro�ts,inciuding those past due and unpaid, an app(y the same, tess cbsts - • �,��
<br /> _. _ . • • . and ex�enses ot b,�eration�nd collection, including reasonabie attorney fees, upon any indebtedness secured hereb � i`��
<br /> . . ' and in such o r d e r e s S e n e f i c i s ry m a y d e t e r m i n e:(b I p e rtorm suc h acts o f repair or protection as may @e a�ecessary or � � `� '
<br /> . . proper to conserve the value of the Property:(c)lease the same or any part hereof tor such rental term and upon such ' � .i
<br /> � conditions as its judgment m�y dictate. Untess Trustor and @ertef3ciary agree otherwise in wr(Ung,any�pplicatlon of � ', �`'�,,}{
<br /> � �,_ _..: , rents,issues or profits to any indebtedac�.ss securetf hereby shel!rtut extend or postpone the due date of the instaliment � '
<br /> •t,;: .
<br /> � . • � peyments as provided in the Loan Agreement, artd the spplicat'son thereof es aforesaid shail not waive or cure any
<br /> �`' � � defaW4 or notice of defauit.hereunder or Invaiidate any act dons pursuant t�such notice. Trustor atso assJ ns to !,,�t
<br />_--�'� . Beneflciary, as furtheT secur'riy fot the performance of the obligations secured hereby,a11 prepaid rents end ail monies � ..��E
<br />=�� �. • . . wt�ich mey have been or may hereafter be deposited with said Trustor by any lessee of the Property,to seeure t4se �`�'
<br />-_ . ° ... paymeni of env►ent,and upon defauft in the performance of any of the provisions hereof,Trustor agrees to de!'svor �� •�,
<br /> , . such rents en�d deposits to the Benaficiary. Delivery of written ratice of Beneficiary's exercise of th�rights gra�ted �;:�
<br /> .� } herein to any tenant accupyiirg said premises shall ba sufficient to require said tenant to pay said rent to the ;, �,
<br />-'f�',t � 'Beneflciary until further notice. • . .
<br /> f � � 8. Coademnation. tf title to an p ny � �
<br /> y part of the Pro e sh�.l be takan in condemnation ptoceedings, by rlgh!of ''�'
<br /> =� � � eminsni domain or sifnilar ectlon,or shaii be sold under threat of condemnat�on,ati awards,damages and proceeds � `-�
<br />_``� � � ere hereby assigned and sha8 be paid to Benefic+ary who shati a�pty such award,damages and proceeds to the sums � � •�,f:=�
<br /> �-�� � �,. • � � secured by the Dee�of Trust,witi�the axcess,if any,paid to the Trustor. .
<br />_�� 1A. Futurs Advance�. The Loan Qgreemerrt proviafes for sdvartces from time to tlme to Trusto�by Beneficiary f ir��'�
<br /> i
<br /> }���. �C . • . as pravided iherein. In addition, upon request ot Trustor,Bensftciary, et Berteficiary's optlon,prior to recanveysnce ' � ��
<br />_ : o!the Propevty to the Trustor, may make edditional future advences to the Trustor. Snch future advances, with � � ;;�
<br /> t . lntetest thereon,shail be secured by this Deed of Trust whe�evidenced b ��
<br /> . y pramtssory notes stating that said notes
<br />_ , , � . are secured hereby; provided that at no time shall the secured principal and future sdvances, not lneiuding sums � �.,
<br /> � ; . advanced to protect the security, excead one hundrod percent (100°,�) of tha ori inal rinci al amounis secured � � � `
<br /> ,y�. * . :. . _ h$reby. 9 P P ! � ,
<br /> � `� � � � 11. Remedies Cumtdative. Ap remedies provided in this Oeed of Trust are distinct and cumulative to any other , f � T • �
<br /> . � : �
<br />- °� . �. •Nght or remedy under this Deed of Tnist or affarded by law or equity, and may be exercised concurrentty,
<br /> . � , � ' . independerttty or successivety. � . ' . , �_ .
<br /> ; .... .� . ..., .
<br /> � . • 12• Aeceteretion;Remedies; S�a. A defauft shall exist in tP�e event of: . � .s���;�1 �. ,. :{
<br /> `=" --__.---- (A!.My fraud or►ntsreprssssuaLEon !s�ih�T�stBC �n cotntecti�n wrtfi the tine of credit which this Deed oi Trust —��__- -==�
<br /> ,� � �, . secures: • s � . '. �
<br /> _ . ' � . t
<br /> • . 9/94 • • � . ''�
<br /> 4a8-2 �
<br /> . '. '� - ; • • . :,�
<br /> � ^— --.--,.._—.-,-.. -----�., .
<br /> . . ,.: .. :--.. ....__. .
<br /> - � � . .. ----------, . .
<br /> .. . , . . ( . –
<br /> .. ,
<br />
|