200207827 - Laserfiche WebLink

Browse

200207527 (b) Trustor shall pctionn anv act in bankruptcy; or (c) A court of couipetentjnrisdiction shall enter an order, judgment or decree approving a petition filed against Trustor seeking any reorganization, dissolution or similar relief under any prevent or future federal, state or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors, and such order. judgment or decree shall remain unvacaled and unstayed for an aggregate of sixty (60) days (whether or not consecutive) from the fast dale of entry thereof, or any trustee, receiver or liquidator or TRIaIOT or of all or any part of the Trust Estate, or of airy or all of the royalties, revenues, rents, issues or profits thereof, shall be appointed without the consent or acquiescence of Trustor and such appointment shall remain nnvacatcd and anstayed for an aggregate of sixty but days (whether or not consecutive); (d) A writ of excarlion or attachment of any similar process shall be entered against Toaster which shall become a hen on the Trust Estate or any portion thereof or interest therein and such cxcwnion, attachment or similar process of judgmcrrl is not released, bonded, satisfied, vacaled or stayed within sixty (60) days ahcr its carry or levy; or (e) 'There has occurred a breach of or default under any term, covenant. agreement condition, provision, representation or warranty contained in anv prior deed of trust or mortgage affecting the Trust Estate. 10. Acceleralionerpon Default Additional Remerlie.c Ifan event of default occurs, Beacficiat, may declare the indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable without arw resentment, demand- protest or notice of ant kind. Thereafter, Beneficiary may. (1) either in person or by agent with or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the adequacy of its security, enter Upon and lake possession of the Trust Estate, nr any part thereof, in its own time or in the home of Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability of [lie Trust Estate, or part thereof or interest therein. increase the income Ihcrofrnm or pOrotecl the security hereof and, with or without taking possession of the Trust Estate, sue for or otherwise collect the anus, issues and profits thereof, including those past due and unpaid and apply the sine, lu'vs costs and expenses of operation and collection including attorneys' fees, upon any indebtedness seemed hereby, all in such order as Beneficiary may determine The entering upon and taking possession of the Trust Estate, the collection of such rcnls, issues and profits and i is application thereof as aforesaid shall not curt nr waive anv default or notice of default hereunder or invalidate any act done in response In such default or pursuant to such notice of default and, notwithstanding the cnnlimnnce in possession of the Trust Estate or the collection, receipt and application of reels, issues or profits, 'Trustee or BCueficiary shall been entitled to exercise every right provided for in any of the Loml Inslnrments or by law upon occurrence of any event of default including the right to exercise the power of sale; (it) commence an action to foreclose this Deed of Trust as a mortgage. appoint a receiver or specifically mdurce any ofthe covenants hereof; (iii) deliver to Truslce a written declaration of default and demand for sale and a written notice of default and election to cause Trustor s interest in the Trust Estate to be sold, which notice Truslce shall cause to be duly filed for record in the appropriate offices of the County in which the Trust Estate is locatedl or (iv) exercise such other rights or remedies at law or in equity. Ll. Parecdosure Ay Power m) Sale. If Rcnefcimv elects to foreclose by exercise of the Prover of Sale herein contained. Beneficiary shall nnlif , Trustee and shall deposit with Truslce: this Second Deed of Trust and any note evidencing the Indebtedness and such receipts and evidcnec of expenditures made and secured hereby as TruStcc may require.