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<br /> 'f� --`-.;•.-,._.. TO PROTE�T THE SECURITY OF THIS TRUST D�ED.7FtU370fi HEREBY COVENANTS AND AGREES AS FOLLOWS: ' - -
<br /> .'' t..PAYNIENT OF P.AIFYqPl6L AND iNTEREST.Trustot shall promptly pay when due th9�pnncipal ot and interest on Ma inQebtedness etidenced by •
<br /> �.�'_sr�: ;.
<br /> ':a�`�.;�; °" '`� the Note,and ail other charges and taes as provided in the Note,and the pnndpal ot and interest on any Future Advancas sacured by this Tnist 9eed. ' • -
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<br /> -'��:°'�`r�'�.`c�:i�.. �.iNARAAHTY OF YIYLE.Trustor is fawfui(y seized and possessed ot good and indateasihfe title and estate to the Prcperry hereDy oonvayed'and n � __
<br /> '���'' � '' R3s th9 dght to�snt end Com�ey the Property;t�e Rropercy is frea and Gear of al1 liens and'eneumbrenaes except Gens now.�f recard;and Trustar will , . -
<br /> _' =-, 7" fir� :. . � ' ` .
<br /> ''��. • � wartant and detend the tipe to the Property against ali ctaims and demands. , - .
<br /> �s:
<br /> v-'' .�,�.s=-� `� 3.�lt�7T�tiAHCEANDCON�PLIANCE WRH LAW3.Trustor shall keep the Properry iri guod�repair and wndition and shall not commitwaste or permit • � ;
<br /> : �"m`� impairment or deterioration oi the PropeRy and shatl corttply with ths pro�isions of arry tease if this Trust Deed is on a leaseho'd.No improvement now • .
<br /> ` or Aereafter erected upon the Property shall tre aitered,removed or demotistied�vithout tAe prior�vritten consent of Beneficiary.Trusfor shalf wmpty witA �- - '� - `" '
<br /> eD Iaws,o�nances,regutadons,covenants,conditions and cestrtctions aHec6ng the Property artd not commit,suffer or parmii any act to be Cor�a in ar z= <�G �- � F `-.
<br />-- .. upon tt�e Property in viotatian at arry la�v,ordiaance,regulation,covenant,conditian a restreciion.Trustar shall wmplete or restare promptfy and in good ' _ , _
<br /> =�'. � . '° workmanlifoe manner arry�improvement on the PropeRy vfiich may bs damaged or destroyed and pay,when due,atI Gaims for labor perfortned and materials „ .. �•
<br /> --_ ��m . fumiShed therefor and tor any at[erations ttseteat. � . . .. - " -. -:
<br /> = ���_.'.,.: • ., . ���.
<br /> _ '''� �'� - • ..
<br /> � �: ..� 4.INSURANCE.Trustnv,at its expense,wiil maintain with insurors approved by BenefiG3ry,insurance with respect ro the improv8ments and peraonai ._.. ."'� __. __
<br /> V property.ccnstituting the Properry.Sgainst loss by fire.li�fiing.wmado.and other penTs and hazards covered by standard extended Coverage indarsemertt, l:\.�. .
<br /> - ���_ � in an amount equal w at teast one hundred perceM(100oib)of the fuil replacemertYVaiue thereof and msurance against such other hazards and in such ' `
<br /> .�; ` `�'= _ amounts as is cus[omarity cartied by owners and operators of simiiar properties or as Beneficiary may require fa its protectioa Trustor witl tomply witA , ; • �
<br /> ,�,;.;...; � .
<br /> --- • such oti�er requirements as Berr�Gciary may from time to time request tot the protection by insurance of the interests of the respective parties.AII insurance � '"
<br /> °"•^•'• polictes maUrrta(ned pursuaM to thisTnut Deed shail name Trustur and Beneficiary as insured.as their respective interests may appear,and proviQe that . -" � , �°'�
<br /> -_ � - ttere be no cartceilation or modiftcatlon wfthout at teast 75 days prior written nodftcation to Trustee and Senefieiary may procure such insurance in accordence - • -: � . .
<br /> - . with the pravisionsoi paragraph 6 hereof.Trusror shail Qaliver m Beneficiary the original poticies oi insurance aad renewats thereaf or memo copies of • �
<br /> - - � suct�poGcies and renewals thereof.Failure to fumish such insurance by Trustor,or renewats as required Aereunder shall,at the option ot Beneficiary. � � ' L
<br /> -'� * • constiwte a default. . ' . . ' '
<br /> - ,,.�� �' , . , ,
<br />_.�,w``. " � 5.TAXES,ASSESStdEHTS AND CHARGES.Tnistor shall pay,ail taxes,assessmenis antl other charges.inGuding,wiThout limitation,fines andimpasitions
<br /> -- r •= aiC+buta6tetot#tePtopertyandleasehotdpayrtientsorgroundrents,ifany.beMrethesamebecomedelinquenLTrustotshallpromptiy(urnisbtobeneficiary � ' .' '
<br /> : ... . �.. .
<br /> _ -- . °--� ;Vy-_._ ._ . . aitnotiCesolartfauntsdueunderthispazagraph,andintheeventTrustorsha(Imakepaymentdirectty,Trus[orshallpromptlytumishto8eneficiaryreceipts _ __ - ' .is°�
<br /> ,�, evidencing sucA payments.Trustdr shaU pay all taxes and assessments which maybe fevied upon HeneTiciary's7nTeresT„6feirt tsf upan this Trust Oe�d 7��,
<br /> without regard to any law that may 6e enacted impasing payment of the whole or any paR thereaf upon thg Beneficiary. � � -
<br /> .. .1:.'='.
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<br /> .� • �: . fi.ADDIT(ONAL CIENS AND PROTECTION OF BENEF(CiARY'S SECURITY.Trustor shall make ail payments af interest and principal and payments ' �_ .� :
<br /> � � � oi any other charges.fe�s a�d expenses contra�ted to be paid to any existing or subsequent lienholder or beneficiary,uoder any existing or subsequent = •,�.
<br /> '��F� '�`�"� � - mortgage or trust deed 6e`are the date they are delinquent or in detault.and promptry pay and discharge amy artd all other liens,ctaims or charges whicA _ • •
<br /> '' ' may jeopar6ize the securiry granted herein:if T►ustar faits to make any such paymenl or}ails to perform any of the wvenants and agreeme�ts confained . ' . . ' ,
<br /> ' • � in this Trust Reed,or the Note referred to herein,or i�any prior or subsequent Vust deed,or if any action or proceeding is commenCed whiCh materialty . • _
<br /> " aftects Berteflc�s}t'a iatcrost in the Propetty,inciuding,hut not limrted to,eminent Qomain proceedings,proceedings involving a decedent,notice of saie .
<br /> � • �"' by7nuteB.noticeofdefauttbyTrustee,mongageforeclosureaction.orifTrustor►aiistopayTrustor'sdebtsgeneraltyastheyhecomedue,thenBertefieiary, •
<br /> � � at Beneflciary's opUan and without notice to or demand upon Trustor and without�eteasing Trustar from any obligation hereunde:,may make such appearances. . ,�_ -
<br /> • • . dishurse such sums and take such aetfon as is neoessary to protect Benefieiary's interest,inctudir.g,but not limited to,disburse:nent of reasonabie attomey's �� r.;��_�
<br /> • � " tees,payment,purchase.cantest or compromise of any encumbr8nce,charge or lien,entry upon the Property to make repairs,or dectaration of default .. , j
<br /> under this Trust Deed.ln the event that Trustor shall fail to procure insurance or to pay taxes,assessments,or any other charges or to make any payments � p f,�
<br /> �'� ' to arry existing or suhsequent Iienholders or existing or subsequent beneficfaries,Beneficiary may procure such insurance an0 make such payment,hut , .;-� .
<br /> . ��• shell not be obligated to doso.Any amounts disbursed by Beneficiary pursuant tothis Paragraph 6 sna�(�ecome auomomat indebtedness otTrustor secured ; ' ^�•:'�
<br /> ` . . r. • ; by this Trust Qeed.Such amounts ahall be payable upon�otice trom Beneficiary to Trustor requesiing paymem thereof,and shail bear interest from the ' '
<br /> date of disbursement at the rate payabte from time to time on outs[anding principal under the Hote unless payment of interest at such rate woufd 6e contrary . ��{, .,:_
<br /> ' � toappliCeble law,in which event suCh amounts shall bear�rtterest at the highesl rate pertnissihie under appliCable law.NOthing Contalned in this Paragraph t i��:
<br /> . . .
<br /> . • 8 ahali require Beneficiary to incur any expense or take any action hereunder.
<br /> . ` .F �.ASS[GNMENT OF RENTS.Benefici � .,�-�•l
<br /> ary shail have the right,power and authoriry during the cantinuance of this Trust Oeed to caltect the rents,iSSUes
<br /> ° • and proflts o}the Property and ot any persanal propertyr tocatetl thereon with or without taking possession of the property aftec[ed here6y,and Trustor .
<br /> - � ' .� hereby absoluteiy and uncondiUOnaily assigns ail such rents,issues and profit9 to Beneflciary.Beneficiary.however.hereby consents to the�TrostoPs •• , . � '
<br /> • . wltection and retention of such rents,fssues and profits as they accroe and bewme payable so long as Trustor is not,at sach tlme,in defautt with respect � , . ��.
<br /> - " � - to payment ot any indebtedness secured hereby,or in the pertormance of any agreement hereunder.Upon any such default.Beneticiary may at any time.
<br /> either in person,by agent,or by a recelver to ba appointed by a court,withaut notice and vrithout regard to the adequacy of any securily for the indebtedness • "
<br /> - hereby seoured,(ej enter upon and take possession ot the Properry or 6ny p2rt thereot,and in its own name sue for or otfierwise collect such rent9,issues �
<br /> , � and profits,incfuding those past due and unpaid,and appty the same.less ccsts and expenses ot operation and coltectlon,inctuding reasanable ettomey's . �,,�' ���y�
<br /> � � . � fees,upon any Indebtedness secured hereby,and in such arder as Beneficiary may determine:(b)pertorm such acts of repalr or protectlon 8s may be � � •
<br /> .� ,�� necesSery or proper to conserve the vatue of ihe Property:(c)lease the same or any part thereof for such rental,term,ana upon such conditians as its . .
<br />_ �, � Judgment may dlctate,or terminate o►adjust the terms and conditions ot existmg leases.Unless Trustor and Beneficiary thereof agree otherwise in vrtiting, .
<br /> � arry appllcation ot rents,issues or protits to any indebtedness secured hereby shall not extend or postpone the due date of!he installment payments as • . •
<br /> - • :.� � . provlded in said promissory note or change the amount ot such installments.The entering upon and tatang possession of the Properry,the collecfion � �
<br /> - � of suCfi rents,issues end profits,and the afiplfcation thereot as atoresaid.shall not waive or cure any defau:t or notiCe of deiault hereunder or invalidate
<br /> _. � . � �� any act done pursuant to such nottca.Trustor also assigns to Beneflciary,as further securiry for the performance ot the obtigations secured hereby,all
<br /> . . prepaiC re�t9 and all monies whfch may have been or may hereatter be depo5�te4 with said Trustor by any lessee of the Property.to secure the payment
<br /> ' .. " .,,�: ot eny rent ordamages,or upon tlefault in the pe�formance of any af the provisions hereol,Trustor agrees to del�ver such rents and deposits to BeneUciary. • .
<br /> — ti ' Delivery of written notice of Beneficiary's exercise of the rights granted herein,to any tenant occupying said premises shall be suNiCient to reqWre said
<br /> ,.�_ ' � tenant to pay rem to ihe Beneficlary unt�i turther notice. •
<br /> ' 8.COI�IDENNATION.II title to any pan ol the Property shall6e taken in condemnet�on proceedings,by nght o}eminent damain or similar action.or . � � �
<br /> ` shall b0 so�d under threat of condemnation,aIl av�artls.damages and proCeeds are hereby assigned end shatl be paid to Beneficiary who shall appty . .
<br /> � �.�.'� , suCh av�arQs,damages an0 proceeds to the sum secured by this Trust Deed.with Ihe excess,it any,paid to Trustor.If Trustor receives any notice or
<br /> � . other iniormation regard'rng such actions or Wroceedmgs.Trustor shall give prompt w►itten notice thereot to Beneficiary.Beneficiary shall be entitled,at
<br /> - , � its option,to tommence,appear in and prosecute m its vrm name any such actlon or proceedings antl shall6e entitted to make arry compromiss or sedtement
<br /> ��:��I in connection with any such actlan or pwteedings. � ." -
<br /> � -'=�"'y�� . 9.FUTUflE ADVAI�CES.Upon request ot Trustor,Beneficiary at Benehciary's option,pdor to reconveyance of the Property to Trostor,may make �
<br /> .•�:�'' �'� tuture advance9 to Trustor.SucA tuture adv�ances,vrith interesf thereon,shalt be secured by this Trust Deed when evldenced by prom�ssory note9 stating . .
<br /> _ -. .. ' .�.. t�at said rtote9 are secured hereby:prav�ded that at no time shall the secured princ�pal and tuture advance9.nat inctuding sums advanced to protect � •• •
<br /> � • the SeCUrity,oxceed tv+o hundred percent(200°0)o11he original principal amounts secured hereby. • ' '
<br /> ' - � 10.REMEDiES HOT EI(CLUStVE.Truslee and Benehciary.and each o►them,shalt be entitted to eniorce payment and performance o}any indebtedness � ,
<br /> — ' ��'�- �Crligati0n9 secut@d hereby and to exereise ali nght9 anQ pov�ets under th�s truSt Ueed ot und3t any other agreement execuled m conneCliOn hetewith .
<br /> ��-� • • � or any Iav+s nov�or hereafler m force.nolwithstandmg some or aIl of tho such�ndebtedness and obbgaflons secured hereby may now ot hereafter be �
<br /> � ' . othervii5e secured,whet�er try mortgage.trust tleed.p�eOge,hen,assfgnment or otherwise.Neither the acceptance o1 th�s Trust OeeA nor its entorcement ,
<br /> .- • whelhei by court achon or pur5uant to the power ot sate or other powers here�n wntained.shall pre�uCice or in any manner aftect Trustee's or Beneticiary's . . �
<br /> �. � ' � right to reatize upon or enforce any other secunty nov+or hereafter held by Trustee or Benet�c�ary,n bemg agreed that Trustea antl BenefiCiery.and each • .
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