|
, .,s..�,", .�}ti, ,:�::r.�.;. • _.-•. _ . , . . .. . : ..
<br /> :�•;r.:; `.:�,;i,: i
<br /> , . �':
<br /> ...__.....__ :,.,s i-•� -.'. _ �
<br /> .i. � . — _�
<br /> ,�:'f::1� ' i • ��, ... _ ___. ./
<br /> -��' �!� � � . . . , J " . , � .. •� .. .
<br /> '_ ,•�:'.. .... :{ . --..S�t�s.:� :i�ol�Lasw.�._..........r. Y ._.� ._....'�_r—...�L..!"9��iJ.1.e-t-_--`j�'--'--..wi::d�,�',�"��w�[-:1f++.'a'Lf7fit�'rt. -
<br /> .f- . '.[Y..C.b:a/S�Y�.�'..r_Y^', 's1.w cial�f.uur"_""" I .
<br /> , •1
<br />. . I A�1 ��11�Y�� ' .. " _.
<br /> !4 W I
<br /> 7.�Tl�e Henefici3ry stv�ll 1tTVC ttie riQatt, poi�•c:r and authr,ri�y duri��a the cnntinuance of this Decd of Trust to collect Qie renu,
<br /> - . .' issues and prAfits of thc property and of nny person�l propesty locatrd thcrcon with or witt�out taking possession of the propcny .
<br /> '%�' "' ' `" , aifc;cted hereby,and Trustorc hereby abwhualy nnd unc,oncC+sia.r.ally as:,ign all such rents,issucs and profits ro the bcncFici�ry. The ,�
<br /> '��,c;�.'�ti4,;•:�•::�, beneficiary,however, herelry consents to'1�(UEtOiG'collecuota aa�d retetytion of such rents,issues and profits, so long as Tnistors are - _
<br /> 2r:..;�r.-
<br /> ;, nat, at such time, in default with respect to pAyment cf aeh}�i�+debtedr�ess seeured hereby,or in the pedormance of any agrcement ,
<br /> ::�,;� • ..�,,.. � hereunder. If aiiy evecit of dcfault desciit�cd hereaftcr in r:stx;ct tc+t}►is Deed of Tn�st slu�ll have occurra!and be continuing, the „ , ,
<br /> ,-°�1�;�z';'� :'�. � . , -
<br /> �{ Henoficiary,as a matter of right and�vilhtnU notice to Tn�ta►,s ar unyaer cluiming under Trustors,and without regard to ttie value of � ,�
<br /> � ' the uust estate or the imerest of ttte Tntttor�tl�ereim, sbaA1 t�ave tt+� right to npply to nny court having jurisdiction to appoint a ,, _, ,
<br /> ..«�,. reccivcr of the property. : •
<br /> � -;�'�,,�----=. 8. The Beneficiary, or its agents. ara atttliorized to ent:�at any reasonablc time upon or in any pard of the propcny for the .�
<br /> -�•-�f�,.�++��'�'� purpose of inspecting the samc and for U�o pumase of perfoc�m+ng any��f thc acts thcy are luthoriz.ed to perforrn under Yhc terms of ,
<br /> �;��.� ,,,� any loan instcuments executed by Trustarr,.
<br /> ' � 9. If all or any part of the property or any interest af.Tinutors is sold.transfcrred or furthcr encumbered without the written �.
<br /> • consent of the Beneficiary, the Beneficinn�m�y declare a1�4 si+r»s secured by this Trust Deed to be immediately due and payable and :
<br /> - proceed to the remalies av�ilable to it undcr the defnult praa�ssions contained hercin.
<br /> � 10. My of th:following events shail be decmed an eveme of defut�t 4ic�eunder: ,, � . ,,-., ; .
<br /> " 3 a, Tcustors shall have failed to mt�l;c payment of any ir�stallmen!o.S principal or interest or any other sums secured hereby whcn . � �,rk,� �'"�
<br /> �r- -,.°7�.- _
<br /> . . d111:r r�'? +.1�' F =
<br /> ,,.' � b. Tliere has occurrcd a breach af or dcfnult unnder any term, c�ovcnanl.ageeenent, wndition, ptovisivn, cepresentation or _____ _
<br /> �rt ��_
<br /> :•�� warranty oontained in lhis Decxt af Tru�t,thc note af anY othcr laan instrument secured hcrcby; ��';�'�__-� �'
<br /> �`'•r``�:` c. T h e r e h a s b e e n a d c f a t d t b y t h c+T r u s t o r s i n t h e p a y r r,V n t of an y prio:or subscquent lien or encumbrancc in respect to all or any f
<br /> .`� ��tibyx�o-�:�-
<br /> ;;,,t. • .";r 5�;. part of the prop�riy; bankru t or insolvent, or shall make an ==--� w � �-
<br />� •��••�. � " � �----
<br />_- ,��..:..:,��5. • • �. T:�st^:s �!s�!! f i�e a �•o lun tar� p e t i t i o n i n b a n k n�}�t c y o r s t►�I l b c a d�u d i c a t p �y�_,__
<br /> - . ,:rr.,:t � . . �`--_---_=
<br /> t(�.��• assignm2nt for the benefit of crr.ditors in respect t�o trP propem•:or an acdon io enforce any lien or encumbrance or judgments ��
<br /> . `���4�'� � ..:.�;. againsc the property is commeuiced.
<br /> �°==-
<br /> • �;. 11. In the event of any default,the Beneficiary may c'�:cL.�re all in�debtedness secureci hereby to be due and payable and the same _
<br /> �� ��
<br /> -� shall thereupon become due and pa}��ible without any presenc»2Ent.d�:mand,pmtest or nuuce uf any kind. Thereafter,lhe Beneficiary �"�''=
<br /> . -=�..
<br /> .. � .. maY: �.
<br /> ••• � either in person or bv aRent, �vith or witliout bti�,�ing am' action or procceding, or by receiver appainted by a court and ��
<br /> --• --
<br /> ' "'� without regard to the adequaig•of any security, cntea upo��n�fl taicc possession oi ti,c N���rt-y,�r a��r��.:he;�f,in iL o�n ,
<br /> � ;�, name or in the name of tho Truatee, and do a�+}• �cts ���➢��ch it drxms necessary and desirable to preserve the value,
<br /> marketabiliry or rentmbility of tlie property,or pa�t thorcot:or interest thercin, increase tfie income therefrom or protect the
<br /> secvrity.hereof and,without t�l:iug possession of th�pzoPem�,suc for or othcnvise collcct thc rents,issues and profits thereof,
<br /> ��,�:. " including those past due and unpaid, and appl�• th� same. Iess costs and e�cQenses of operation and coQecaon, ineluding �y`'
<br /> ,�i;+�!` atiorney fees,upon any inde4�tedness secural herefie•,a11 in such order as the Beneficiary may deterrniae. The entering upon `�,,�
<br /> and taking possession of the uust estate. the coll�ciion of st�ch rents, issues and profits and applicauun thereaf as aforesuid -:�
<br /> " � shall not cwe or waive any dc�t'nult or notice ot ci::t'ault hereunder or invalidate any act and in response to such default or �;.
<br /> � ' � � � pursuant to such nouce of defanit and notwithsta�xiing the amanuanx in�ossession of the property or the coUection.receipt �.
<br /> and application of rcnis, issues ar profits,Trustee c+z the Bcn�iiciary may bc entitled to excrcise evcry ngl►t provided for in any ��
<br /> � of the loan instnunents or by Itnv upmi occurcenoc a5 any evc:nt of default,inclucling the right to exercise the pawer of sale; •l� � �:
<br /> ' � b. commcncc an action to forcclase this Deed of Ttvst as a mortga�e, appoint a receiver, or spacifically enforce any of the ;,; `
<br /> ��=---_--�„�
<br /> ' "� covenanu hercof; �
<br /> ' � c. deliver to Tcustcc a�vrittcn declttr.tuon of defa�el9 and demand for sale. and a�itten notice of dcfault and elcction to cause ,r,,;",��'�.a�.
<br /> • , Trustors'incerest in the property ta be sold,wl�icr notice Tnistee shall cause to be duly filed for record in the oScial records 4; ._-� _
<br /> ' . ' ���` of the county in which the property is located. �• -
<br /> ,�t i�,;• _ii�••. •,rr, ,;-..
<br /> • ��� 12. Should die Beneficiary elect to foreclose by exercis�of th�power of sale herein contained,the Peneficiary shall norify Trustee
<br /> +,,;,r.,, . ,.• ��.
<br /> . G.,.......
<br /> ' and sliall deposit�vith Trustee this DcEd of Trust and the note and such reccipts and evadcncc of expenditures made and securcd ' ,,r.-
<br /> � �'
<br /> hereby as Trustee may require, and upon request of the Beneficiary, the Trustee shAU cause to be recorded,published and delivered ±�y'��.
<br /> '' �� to Trustor such Notice of Default ar►d Noticc of Sale as tY:�:n reqnire�l by law ar.d by i�is Deed of Trust.Ttustee shall�vithout demand ��.,,,,,.
<br /> .""�l ! ,�� on Trustor,after such time as may thvn be requircd b}�i?���and after recordauon of such Notice of Default a.-id after Nouce of Sale „ ,, --
<br /> ._.,1.:::�' �`� ; ,�q .
<br /> � having been�i��en as required by la���, sell the propem�ae the time and place of sale fxed by it in si:ch Notice of Sale,either as a ��`.�; ,� ,
<br /> ` � whole,or in separate lots or parccls or items as Trustee shall deem expedicnt, and in such ordzr as it may determine, at public ,
<br /> � aucuon to the highest bidder for cash and shall deliver to such purch�ser or purchasers thareof�cl�a!to the property sold consistent �
<br /> � �vith the law then in effect. Recitals in the Trustee's ci�shall be prima facie evidence of the uuth of the statements made therein. �,
<br /> + Trustec sliall apply thc procccds of thc salc in the fc�{:]�r,��ng urder:(s►)to all rc��sonablc costs and expenses of the sale, including but i.
<br /> � �' not limited to Trustec's fecs of not morc than 2%of tlne g;ross sale pricc.rcasonablc attorncy fces and costs of udc cvidence:(h)to all � .,
<br /> - �+ sums sccured by this Decd of Trusr, an� (c) thc cxccss. if any. to tl►e person or persons lcgally cntiticd thcrcro. Any gcrson.
<br /> - �, including�he Bencficiary.may purchase s��id property at said sale. Tnistce may in tha manncr providcd by la��•.postpone sale of all i
<br /> -'•,• ' or any portion of the property.
<br /> 'i 13. Tn�stee�nd the Heneficiary,and cach of ttiem,st�all be entitled to enforce��s�nent and perfurmarice of any iadebtedness or �
<br /> _ � obligation secwed hereby and ro exercise all rights ard po�vcrs uuder this i)ecd of Trust or undcr any loan instnunent or othcr �
<br /> a, a�xmcnt or any lan•s nor or hereaRer cnfor�ed rtotrvithstandin�somc or all of the indebtedncss and obligations secused hcreby
<br /> ' _ __._ __ ..... ___. __. __ �...r,�e. �,� ..�t,�...,��• �urMi. wleethcr bv mort�agc, decd of tn�st. plcdgc, licn, assignment or othenvise.
<br /> �..-----
<br /> . _r -____-,-i—�- � N'II1�:11 tt41) IN�r V� aavv....v. .�— ••—•—""_' ' ' r__"___.. _ ,
<br />- ,.:r,. . - � Ncitl►cr the acocptanc�c of diis Dced of Tn�st nar its cnforcement,�vhether Iry cuurt action or pursuant to the power oi saie or oinar i
<br /> powers herein contained. shxll prejudice or in any manner att'ect Tnistee's or the Bene�ciary's right to rralize upon or enforce any
<br /> ... --� other security notir�or l►eri:aiten c�ld by Trustec or the Hcneficiary. it bein�at;reed that Tru�tee and the Beneficiary.and each of i
<br /> - " - ` thcm, shall be enutled to enforcc ttus Decd of Tn�st and any other security no�v on c�reaften c�ld by the Beneficiary or Tnistce in
<br /> ��. such ordc:r a�zd mann:r as they may�in their absolute diseretion deternune. No remedy tierein coi�ferred upon or reser��ed to Trustee
<br />-� or Bencficiaq�is intended to be erclusivc of any othcr rcm�dy hercin or by la�v providcd ar permitted.but cach shail bc cumulaticc
<br /> and shall be in addition to cvcry othcr Rmedy gtve��hcrcundcr cr no�v on c�n;alter crisimg at la�v or cquity or by statute. E�•cn•
<br />- � po�ti•er or rcmedy gi��cn b}•an}•of the Ioan instmments to Trustce or thc Bcncficiary or to which cithcr of iliem ma}•bc othcnr•isc
<br /> " � entitled may be exercised,rnncunentl}•or independentlr•, from iimc to time a►►d as oRen�s may Ix:deemed e�cpedient by Trustee or
<br /> - Hcneficiary�,and either of tl�cm uia}�pursuc incansistcnt remcdics Nothiug liercin shall bc construcd as prohibiting the Bcncfici�ur•
<br /> .. �}: -� from seeking a deficsency jud.�mem against Trustors to the extent s�lch uctian is permined by la�r•.
<br /> ° " 14. Ttvstors hereby request a cop}' of any notice of defatdt aud th��t am•notice of sale here�tnder be mailed to Trustots at the
<br /> .' � address set forth in thc first parigraph of this Dccd of Trosl.
<br />�.'
<br /> t"� .
<br />
|