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200307804
<br />shall fail to comply with the provisions of (a) through (f) above, the
<br />Beneficiary may expend such funds and take such action as is necessary to
<br />remedy such failure and all sums paid by the Beneficiary pursuant hereto with
<br />interest at the rate hereinafter provided shall constitute a lien upon the
<br />Property, shall be secured by this Deed of Trust, and shall be immediately
<br />due and repayable to the Beneficiary; (h) not to sell the Property or any
<br />portion thereof; and in the event of any sale herein prohibited, then the
<br />entire indebtedness secured by this Deed of Trust shall, at the option of the
<br />Beneficiary, become due and payable; (i) that if the Property or any part or
<br />parcel thereof shall be taken or damaged under the power of eminent domain,
<br />the award for any Property so taken or damaged (including severance damages
<br />to the remaining premises) shall be paid to the Beneficiary and applied in
<br />full in reduction of the indebtedness hereby secured; (j) that the Beneficia-
<br />ry shall have the right to inspect the Property at such reasonable times as
<br />the Beneficiary may desire to determine Trustor's compliance with the
<br />covenants contained in this Deed of Trust; (k) that the Beneficiary may
<br />release from the lien hereof any part or parcel of the Property without
<br />requiring any consideration therefor, and (1) that Trustor is lawfully seized
<br />of said premises and Property in fee simple, that the same are free from all
<br />liens and encumbrances except as may otherwise be specifically noted herein
<br />or waived in writing by the Beneficiary; that Trustor will execute or procure
<br />any further necessary assurances of title and does hereby warrant generally
<br />the title to said Property and will forever defend the same against the
<br />claims and demands of all persons whomsoever, and that Trustor's separate
<br />estate, whether vested, contingent or in expectancy, is hereby conveyed and
<br />Trustor does hereby expressly waive, release all rights and benefits of any
<br />homestead, dower, curtesy, appraisement, exemption and stay laws of this
<br />state. It is agreed that the interest provided for in subsection (g) above
<br />shall be at the same rate as specified in the Note secured hereby on the
<br />principal thereof after default and maturity.
<br />SECOND. In the event Trustor, without the prior written consent of
<br />Beneficiary, shall sell, transfer or convey or contract to sell, transfer or
<br />convey the Property, or any part thereof or any interest therein, the entire
<br />balance of the indebtedness hereby secured shall become and be immediately
<br />due and payable at the option of Beneficiary; provided, however, Beneficiary
<br />may waive such option to accelerate if, prior to such sale, transfer or
<br />conveyance or contract therefor, Beneficiary and the person to whom the
<br />property is to be sold or transferred reach an agreement in writing that the
<br />credit of such person is satisfactory to Beneficiary and that the interest
<br />payable on the sums secured by this Deed of Trust shall be at such rate as
<br />Beneficiary shall request.
<br />THIRD. That as further security for the payment of the Note and the
<br />indebtedness thereby evidenced and the performance of all of the terms,
<br />covenants and conditions hereof, Trustor agrees that Beneficiary shall and
<br />does hereby have the right, power and authority during the continuance of
<br />this Deed of Trust to collect the rents, issues and profits of the Property
<br />and of any personal property located thereon with or without taking
<br />possession of the property affected thereby; and Trustor hereby absolutely
<br />and unconditionally assigns all such rents, issues and profits to Beneficia-
<br />ry. Beneficiary, however, hereby consents to Trustor's collection and
<br />retention of such rents, issues and profits as they accrue and become payable
<br />so long as Trustor is not at such time in default with respect to payment of
<br />any indebtedness secured hereby or in the performance of any agreement
<br />hereunder. Upon any such default, Beneficiary may at any time, either in
<br />person, by agent, or by receiver to be appointed by a court, without notice
<br />and without regard to the adequacy of any security for the indebtedness
<br />hereby secured (a) enter upon and take possession of the Property or any part
<br />thereof and in its own name sue for or otherwise collect such rents, issues
<br />and profits, including those past due and unpaid, and apply the same, less
<br />costs and expenses of operation and collection, including reasonable
<br />attorney's fees, upon any indebtedness secured hereby and in such order as
<br />Beneficiary may determine; (b) lease the same or any part thereof for such
<br />rental, term and upon such conditions as Beneficiary's judgment may dictate
<br />or terminate or adjust the terms and conditions of any existing lease or
<br />leases. Unless Trustor and Beneficiary agree otherwise in writing, any
<br />application of rents, issues or profits to any indebtedness secured hereby
<br />shall not extend or postpone the due date of the installment payments as
<br />provided in the Note or change the amount of such installments. The entering
<br />upon and taking possession of the Property, the collection of such rents,
<br />issues and profits, and the application thereof as aforesaid, shall not waive
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