|
(1) Attorney's fees and costs of collection; 200201262
<br />(2) Cost of any evidence of title procured in connection with such sale and any revenue
<br />or tax required to be paid;
<br />(3) All obligations secured by this Deed of Trust;
<br />(4) The remainder, if any, to the person legally entitled thereto.
<br />8.2 Sums Advanced to Protect Security: Beneficiary may advance such sums Beneficiary, in its sole
<br />discretion, deems reasonable to protect the security. Sums advanced to protect the security whether specifically
<br />enumerated as such herein or reasonably construed to be so advanced shall become the obligation of the Trustor.
<br />The payment of such sums together with the interest thereon shall be secured by this Deed of Trust. The interest
<br />rate for sums advanced to protect the security shall be at the rate of 16% per annum or the highest rate allowed by
<br />law from the date such sums were paid to Beneficiary.
<br />8.3 Interest Rate Upon Default: After acceleration, upon default or after maturity, all sums due the
<br />Beneficiary and secured by this Deed of Trust, including interest not paid when due, shall bear interest at the rate
<br />of 16% per annum or the highest rate allowed by law from the date such sums were due.
<br />9. Assignment of Rents. Trustor presently assigns all rents, issues, and profits, now or future, of the security
<br />to the Beneficiary but the Beneficiary consents to allow the Trustor to collect and retain the rents, issues and profits
<br />as long as the Trustor is not in default of this Deed of Trust. Upon default, Beneficiary or its agent may without
<br />notice and without regard to the adequacy of the security proceed to collect rents, issues, and profits, including
<br />those past due and unpaid and apply the proceeds less costs and expenses of operation and collection, including
<br />reasonable attorney's fees, upon any indebtedness secured hereby. Beneficiary may do anything reasonable and
<br />necessary to give effect to this Assignment of Rents upon the default of the Trustor unless the Trustor and
<br />Beneficiary agree otherwise in writing, any application of rents, issues or profits to indebtedness secured hereby
<br />shall not extend or postpone the due date of any installment payments as provided in the Promissory Note or
<br />change the amount of such installments. The entering upon and taking possession of the property, the collection of
<br />such rents, issues and profits and the application thereof as aforesaid shall not waive or cure any default or notice
<br />of default hereunder or invalidate any act done pursuant to such notice. Trustor also presently assigns to the
<br />Beneficiary all prepaid rents and all monies which may have been or may hereafter be deposited with said Trustor
<br />by any lessee of the property, agrees to deliver such rents and deposits to the Beneficiary. Delivery of written
<br />notice of the Beneficiary's exercise of the rights granted herein to any tenant occupying the premises shall be
<br />sufficient to require the tenant to pay rent to the Beneficiary until further notice. Beneficiary shall be accountable
<br />only for the rents, revenues and profits collected and not the rental value of the premises. No construction of this
<br />paragraph shall alter the occupier liability which shall be the responsibility of Trustor, and Beneficiary shall have
<br />none of the same unless actually in possession of the premises. This assignment is intended to be a present
<br />assignment and not contingent upon the default of the Trustor.
<br />10. Remedies Not Exclusive. The remedies provided in this Agreement shall not be exclusive. Upon the
<br />default of the Trustor, the Beneficiary may seek relief by any legal or equitable means including the conventional
<br />foreclosure of the premises. The beneficiary may seek to enforce the agreements here made in such order and
<br />manner as Beneficiary sees fit. No remedy is intended to be exclusive, but each shall be cumulative. Every power
<br />or remedy provided under the Deed of Trust to the Trustee or Beneficiary or to which either of them may
<br />otherwise be entitled by law may be exercised concurrently or independently as often as is deemed necessary by the
<br />Trustee or Beneficiary or either of them and either of them may pursue inconsistent remedies. The Beneficiary or
<br />Trustee may proceed to pursue a deficiency judgment against the Trustor to the extend such action is permitted by
<br />law.
<br />11. Trasfer of the Property; Assumption If all or any part of the property or interest therein is sold,
<br />transferred or otherwise conveyed by Trustor without Beneficiary's prior written consent, excluding (a) the creation
<br />of a lien or encumbrance subordinate to this Deed of Trust; (b) a transfer by devise, descent or by operation of law
<br />upon the death of Trustor; (c) the grant of any leasehold interest of three (3) years or less not containing an option
<br />of purchase, or (d) such grant of a leasehold interest as may be approved in writing by the Beneficiary, such action
<br />is a breach of this agreement, and Beneficiary may, at Beneficiary's option, declare all sums secured by this Deed
<br />of Trust to be immediately due and payable, or cause the Trustee to file a notice of default. Beneficiary shall have
<br />waived such option to accelerate if, prior to the sale, transfer or conveyance, Beneficiary and the person to whom
<br />the the Beneficaryta dethat sold thetinterest payable on the sumisecured writing
<br />by this Deedcredit
<br />of Trust person all besat such rate as
<br />beneficiary shall request.
<br />12. Forbearance by Beneficiaa and Waiver. Any forbearance by Beneficiary to Trustee, Trustor or anyone,
<br />in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or
<br />preclude the exercise of any such right or remedy hereunder. Likewise, the waiver by Beneficiary to Trustee of
<br />any default of Trustor under this Deed of Trust shall not be deemed to be a waiver of any other or similar defaults
<br />subsequently occurring. No waiver shall be construed against the Beneficiary unless such waiver shall be express
<br />and in writing signed by the Beneficiary.
<br />13. B n9f iarv's Powers. Without affecting or releasing the liability of the Trustor or any other person liable
<br />for the payment of any obligation herein mentioned, and without affecting the lien or charge of this Deed of Trust
<br />upon any portion of the property not then or theretofore released as security for the full amount of all unpaid
<br />obligations, the Beneficiary may from time to time and without notice at the request of one or more Trustors
<br />release any person so liable; (b) extend or renew the maturity or alter any of the terms of such obligation; (c) grant
<br />other indulgences; (d) release or reconvey or cause to be released or reconveyed at any time at the Beneficiary's
<br />option any portion or all of the property; (e) take or release any other or additional security for any obligation
<br />herein mentioned: (f) make compositions or other arrangements with debtors in relation thereto. Beneficiary may ,
<br />in its sole discretion, (i) inspect the premises at any reasonable time; (ii) require such additional security as may be
<br />reasonable; and (iii) substitute the Trustee herein with any person, entity or corporation qualified so to act. The
<br />attorneys of the Beneficiary or one of them may now be or may subsequently be designated Trustee herein and
<br />may perform for the Beneficiary duties as counsel and Trustee. All Trustors shall be jointly and severally obligates
<br />and bound by the actions of the Beneficiary or any Trustor as herein stated.
<br />
|