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200512651
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200512651
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Last modified
12/28/2005 4:13:20 PM
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12/28/2005 4:13:20 PM
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DEEDS
Inst Number
200512651
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<br />, ' <br /> <br />200512651 <br /> <br />such payment. Any amounts disbursed by Beneficiary pursuant to <br />this Paragraph 7 shall become additional indebtedness of Trustor <br />secured by this Deed of Trust. Such amounts shall be payable <br />upon notice from Beneficiary to Trustor requesting payment <br />thereof, and shall bear interest from the date of disbursement at <br />the rate payable from time to time on outstanding principal under <br />the Note unless payment of interest at such rate would be <br />contrary to applicable law, in which event such amounts shall <br />bear interest at the highest rate permissible under applicable <br />law. Nothing contained in this Paragraph 7 shall require <br />Beneficiary to incur any expense or take any action hereunder. <br /> <br />8. Assignment of Rents. Beneficiary shall have the right, <br />power and authority during the continuance of this Deed of Trust <br />to collect the rents, issues and profits of the Property and of <br />any personal property located thereon with or without taking <br />possession of the property affected hereby, and Trustor hereby <br />absolutely and unconditionally assigns all such rents, issues and <br />profits to Beneficiary. Beneficiary, however, hereby consents to <br />the Trustor's collection and retention of such rents, issues and <br />profits as they accrue and become payable so long as Trustor is <br />not, at such time, in default with respect to payment of any <br />indebtedness secured hereby, or in the performance of any <br />agreement hereunder. Upon any such default, Beneficiary may at <br />any time, either in person, by agent, or by a receiver to be <br />appointed by a court, without notice and without regard to the <br />adequacy of any security for the indebtedness hereby secured, (a) <br />enter upon and take possession of the Property or any part <br />thereof, and in its own name sue for or otherwise collect such <br />rents, issues and profits, including those past due and unpaid, <br />and apply the same, less costs and expenses of operation and <br />collection, including reasonable attorneys fees, upon any <br />indebtedness secured hereby, and in such order as Beneficiary may <br />determine; (b) perform such acts of repair or protection as may <br />be necessary or proper to conserve the value of the Property; (c) <br />lease the same or any part thereof for such rental, term, and <br />upon such conditions as its judgment may dictate or terminate or <br />adjust the terms and conditions of any existing lease or leases. <br />Unless Trustor and Beneficiary agree otherwise in writing, any <br />application of rents, issues or profits to any indebtedness <br />secured hereby shall not extend or postpone the due date of the <br />installment payments as provided in said promissory note or <br />change the amount of such installments. The entering upon and <br />taking possession of the Property, the collection of such rents, <br />issues and profits, and the application thereof as aforesaid, <br />shall not waive or cure any default or notice of default <br />hereunder, or invalidate any act done pursuant to such notice. <br />Trustor also assigns to Beneficiary, as further security for the <br /> <br />5 <br />
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