|
200206367
<br />(b) 'I'ruslor shall perform any act in baikruptev: or
<br />(c) A court of competent jurisdiction shall enter an order, judgment or decree approving a
<br />petition filed against Truster seeking any, reorganization, dissolution or similar relief
<br />under any present or future federal, state or other statute, law or regulation relating In
<br />bankmplcy, insolvmtey or other relic( for debtors, and such order,judgmcn[ or decree
<br />shall remain unvacated and enslaved form aggregate of sixty (GO) days (whether or not
<br />consecutive) from the first due of entry thereof, or any (Or ace, receiver or liquidator or
<br />Tolson or of all or any part of lire Trust Estate, or of anv or all of [lie royalties, revenues,
<br />rents, issues or profits thereof, shall be appointed without the cnnsenl or acquiescence of
<br />Truster and such appointment shall remain unvacated and to staval for m aggregate of
<br />sixty (60) days (whether or not consecutive);
<br />(d) A writ of cxeculion or attachment of any similar process shall be enteral against Trust or
<br />which shall become a lien on the Trust Estate or any portion thereof or inlcrost Ihruan
<br />and such cxecutian. atraclunent or similar process ofjudgment is not ndcasai bonded,
<br />satisfied. vacated or stayed within sixty (GO) days after its emu' or lay; or
<br />(e) There bas ou:uried a breach of or default under any term, covenant, agrcaucn1,
<br />condition, precision, representation or warrant} conclned in anv prior deal of Inue[ or
<br />mortgage affecting the Trust Estate.
<br />Ill. .4 ooeler.tion upon Default; Addnvi nolRemedle,, If an event of default ocwM
<br />Beneficiaty may declare the indebtedness secured hereby In he due and payable and the
<br />same shall thereupon become due and payable without anv resentment, demand, protest
<br />or ounce of any kind. Thereafter. Beneficiary may
<br />(it either in person or by agent, with or warrant bringing any action or proceeding. or by a
<br />receiver appointed by a court and without regard to the adequacy of its security, enter
<br />upon mid take possession of the 'I'last Estate, or aw part [hereof, in its own name or in
<br />the name of Trustee, and do any acts which it deems necessary or desirable to preserve
<br />the value, marketability or rentability of the Trost Estate, or pan [hereof or interest
<br />therein, increase the income Iherefnnn or porotect the security hereof and, with or
<br />without taking possession of the Trust Estate. sue for or otherwise collect the rents, issues
<br />and profits thereof. including those past due and unpaid, mid apply the smile, less costs
<br />and expenses ofoperation and collection including attomeys fees, upon anv
<br />indebtedness secured herchy, all in such order as Beneficiary may determine_ The
<br />entering upon and taking possession of the Trust Estate, the collection of such rents,
<br />issues and profits and the application thereof as aforesaid shall not cure or waive any
<br />default or notice of default hereunder or invalidate any act done in response to such
<br />default or pursuant In such notice of default and, notwithstanding the continuance in
<br />possession of the Trust Estate or the collection. receipt and application of rents issues or
<br />profits, Tmstce or Beneficiary shall been entitled to exercise every right provided for in
<br />mw of the Loan Instruments or by law upon occurrence of any o'cnl of dcfadl, including
<br />the right to exercise the power of sale;
<br />(ii) commence an action to foreclose this Deed ofl'rust as a mortgage, appoint a receiver or
<br />spcx ifrcalh enforce any of the covenants hereof,
<br />(iii) deliver to Trustee a written declaration of default and demand for sal, and wriaan
<br />notice of default and election to cause Trustor's interest in the Trust Bs'Inle In he sold,
<br />which notice Trustee shall cause to be duly filed for record in the appmpriale offices of
<br />the Comr, at which the Trust Estate is located: or
<br />(v) exercise such other rights or remedies at law or in equity.
<br />P'oredaeerre by 1'mver of.Sale. If Beneficiary elects to foreclose b7 exercise of the Power of Sale
<br />herein contained. Beacriciary shall notify Trustee and shall deposit with Trustee this Second Deed
<br />offnnst and any note evidencing the Indebtedness and such receipts and evidence of cspcadilures
<br />made and secured horcby, as Tnuslec may require.
<br />1) J /`
<br />
|