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<br />I <br /> <br />r <br /> <br />lu1570 <br />8R__ . <br />( d ) Trustor shall have procur'lfd, permItted or ~uff.qrljld,voluntarlly or Involuntarily, any creditor to obtain a lien not <br />permitted herein upon all or part of such property;'lrCJstor'or any guarantor of the indebtedness secured hereby s~all <br />become insolvent of admit in writing its inability to pay its debts as they mature, or make an assignment lor the beneht of <br />creditors or apply for or consent to the appointment of a receiver or trustee for it or for a substantial part of such property, or <br />such a receiver or trustee shall be appointed and shall not be discharged within thirty (30) days after appointment; or <br /> <br />I <br /> <br />( e ) A writ 01 execution or attachment or any similar process shall be issued or levied against all or any part of or interest <br />in such property, or any judgment Involving monetary damages shall be entlJred against Trustor which shall become a lien <br />on such property or portion thereof or interest therein and such execution, attachment or similar process or judgment is not <br />released, bonded, satisfied, vacated or stayed within sixty ( 60 ) days after its entry or levy; or <br /> <br />( I ) Bankruptcy, insolvency, reorganization, arrangement, or liquidation proceedings or other proceedings for relief <br />under any bankruptcy law or other law for the relief of debtors shall be instituted by or against Trustor or any Guarantor <br />hereof and if instituted against such party shall be consented to or shall not be dismissed within sixty ( 60) days after such <br />hlstltutlon; or <br /> <br />( g ) Trustor or any successor in interest of Trustor, voluntarily or involuntarily should sell, exact, convey, tiansfer, <br />contract to sell, lease with option to purchase, sublease, dispose of, change the character or use of, or further encumber <br />such property, or any part thereof, or any Interest therein, or jf any said parties shall be divested of title to such real property <br />of any part thereof, or any interest either voluntarily or involuntarlly, or if title to such property be subjected to any lien or <br />charge voluntarily or involuntarily, contractual or statutory, without the written consent of Beneficiary being first had <br />obtained, or <br /> <br />( h ) If Trulitor is a partnership and the interest of a general partner terminates, is assigned or transferred, or is diminished <br />in any respect. or if Trustor is a corporation and a majority of the voting corporate stock is transferred, sold or assigned, or if <br />the Trustor is a Trustee of a trust and there is a change of any of Ihe Beneficial interest of the trust; or <br /> <br />( i ) Trustor shall, without the consent of Beneficiary, create or consent to the establishment of a district which has taxing <br />powers. <br /> <br />ACCELEAA TION UPON DEFAULT, ADDITIONAL REMEDIES: In the event of any default hereunder, Beneficiary may, at <br />its option,: <br /> <br />( a ) Terminate additional advances, If any, to be made under or pursuant 10 the Promissory Note or any building loan <br />agreement; or <br /> <br />( b ) Declare any sum secured hereby immediately due and payable and the same shall there upon become due and <br />payable without any presentment, demand, protest or notlce of any kind; or <br /> <br />(e ) At any time, with or without notice, either in person, by agent, or by receiver to be appointed by the Court without <br />regard to the adequacy of any security for the indebtedness secured hereby, enter upon and take possession of such <br />property or any part thereof, make, cancel, enforce or modify leases; obtain and eject tenants, set or modify rents; in Its own <br />name sue or otherwise collect the rents, income, issues and profits thereof, including those past due and unpaid; and apply <br />the same,less costs and expenses of operation, including reasonable attorney's fees. upon any indebtedness secured <br />hereby and in such order as Beneficiary may determine; and except for such application, Beneficiary shall not be liable to <br />any person for the collection or noncollection of any rents, income, issues or profits for the failure to assert or enforce any of <br />the foregoing rights, nor shall Beneficiary by charged with any of the duties and obligations of a mortgagee in possession. <br />The entering upon and taking possession of such property, the collection of such rents, income, issues or profits, the doing <br />of other acts herein authorized, and the application thereof as aforesaid, shall not cure or waive any default or notice of <br />default hereunder or invalidate any act done pursuant to such notice; or <br /> <br />( d ) Cause to be filed on record, a written notice of default and election to sell such property. After the lapse of such time <br />as then may be required by law following recordation of such notice of default, and notite of sale having been given as <br />required by law, Trustee without demand on Trustor shall sell such property, either as a whole or in separate parcels, and in <br />such order as it or Beneficiary may determine at public auction to the highest bidder. The Trustee may postpone the sale of <br />all or any portion of such property by publiC announcement at the time of sale, and from time to time thereafter, may <br />postpone the sale by pUblic announcement at the time and place fixed by the preceeding postponement. Trustee shall <br />deliver to such purchaser its deed conveying the property so sold, without any covenant or warranty, express or implied. <br />The recital in such deed of any matters of fact or otherwise shall be conclusive proof of tile truthfulness thereof. Any person, <br />including Trustor, Trustee or Beneficiary, may purchase at said sale. Trustee may also sell at any such sale and as a part <br />thereof, any shares of corporate stock securing the obligation secured hereby, and Trustor waives demand and notice of <br />such sale. (Beneficiary at its option may also foreclose on such shares by independent pledge sale, and Trustor waives <br />demand of notice of such sale.) After deducting all costs, fees and expenses of Trustee, and of this trust, including cost of <br />evidence of title in connection with such sale, Trustee shall first apply the proceeds of sale to the payment of all sums <br />expended under the terms hereof, not then repaid, with accrued interest at the rate then payable under the note or /'lotes <br />secured hereby, and then to payment of all other sums secured hereby, and if thereafter there be any proceeds remaining, <br />distribute them to the person or persons legally entitled thereto. <br /> <br />IL <br /> <br />If this Deed of Trust or any note secured hereby provides for any charge for prepayment of any indebtedness secured <br />hereby, Trustor agrees to pay said charge, if any of said indebtedness shall be paid prior to the maturity date thereof stated <br />in said note or this Deed of Trust, even if and notwithstanding Trustor shall have defaulted in payment thereof, or in <br />per10rmance of any agreement hereunder, and Beneficiary by reason thereof, shall have declared all sums secured hereby <br />immediately due and payable. <br /> <br />SCHEDULE OF LEASES: Within ten ( 10 ) days after demand, Trustor shall furnish to Trustee or Beneficiary a schedule, <br />certifieU by Trustor, setting forth all leases of such property, including, in each case, the name ofthe tenants or occupants, a <br />description of the space occupied by such tenant and occupant, the rental payable for such space and such other <br />information and documents with respect to such leases and tenancies as the Trustee or Beneficiary may request. <br /> <br />COVENANTS OF TRUSTOR WITH RESPECT TO LEASES: Without the prior wrfllen consent of Trustee or Beneficiary, <br />Trustor shall not, directly or indirectly, wilh respect to any lease 01 space in such property, whether such lease is not or <br />hereafter in exiatence: ( a ) accept or permit any prepayment, discount or advance payment of rent thereunder; ( b ) cancel <br />or terminate the same, or accept any cancellation, termination or surrender thereof, or permit Rny evolI! to occur which <br />would entitle the lessee thoreundor 10 termlnato or cancol tho 68mo, ( c ) nmend or modify the same so fiS 10 IeUtlCU tho tOI III <br />