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200508557
<br />legal expenses, title searches, appraisal or attorneys' fees reasonably
<br />incurred or paid by Beneficiary to collect the Note or foreclose or protect
<br />the lien of this Deed of Trust; (g) that in the event Trustor shall fail to
<br />comply with the provisions of (a) through (f) above, the Beneficiary may
<br />expend such funds and take such action as is necessary to remedy such failure
<br />and all sums paid by the Beneficiary pursuant hereto with interest at the
<br />rate hereinafter provided shall constitute a lien upon the Property, shall be
<br />secured by this Deed of Trust, and shall be immediately due and repayable to
<br />the Beneficiary; (h) not to sell the Property or any portion thereof without
<br />the approval of the Beneficiary in writing; and in the event of any sale
<br />herein prohibited, then the entire indebtedness secured by this Deed of Trust
<br />shall, at the option of the Beneficiary, become due and payable; (i) that if
<br />the Property or any part or parcel thereof shall be taken or damaged under
<br />the power of eminent domain, the award for any Property so taken or damaged
<br />(including severance damages to the remaining premises) shall be paid to the
<br />Beneficiary and applied in full or in part at the option of the Beneficiary
<br />in reduction of the indebtedness hereby secured; (j) that the Beneficiary
<br />shall have the right to inspect the Property at such reasonable times as the
<br />Beneficiary may desire to determine Trustor's compliance with the covenants
<br />contained in this Deed of Trust; (k) that the Beneficiary may release from
<br />the lien hereof any part or parcel of the Property without requiring any
<br />consideration therefor, and (1) that Trustor is lawfully seized of said
<br />premises and Property in fee simple, that the same are free from all liens
<br />and encumbrances except as may otherwise be specifically noted herein or
<br />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
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