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<br />88-- ' 101779 <br /> <br />r <br /> <br />ness secu red hereuy, or the I iell of this Deed of Trustu pon lilt! remainder of such property for the full amoullt of the indebtedness <br />then or thereafter, secured h{'reby, or the ri~hts or powers of the Benl'ficiary or the Trustee with respect to the remainder of such <br />property, Trustet: may (n} reconvey any part of such property, (b) consent to the makingof any map or pint thereof. (c) join in grant- <br />ing any easement thereon, or (d) join in any extension agrl.'ement or any agreement subordinating the lien or charge hereof, <br />Full Reconve,yance: That. upon wrilten request of nelleficiar~' stating that all sums secured hereby have been paid, Trus- <br />tee shall reconvey. without warranty, the property then held hereunder. The recitals in such reconv('yance of any matters of fact <br />shall be conclusive proof of the tru th fulness thereof. The gra ntee in such reconveyance may be designated as "the person or persons <br />legally entitled thereto". Such request and reconveyance shall operate as a reassignment of the rents. income, issues and profits <br />hereinbefore assigned to Beneficiary. <br />Right to Collect and Hecei\'e Hents and Profits: Notwithstanding any other provisions hereof, Beneficiary hereby grants <br />permission to Trustor to collect and r(>tnin the rents. income, issues ami profits of such property as they become due and payable, <br />but reserves the riRht to revoke sueh permission at any time. with or without cause, by notice in writing to Trustor, mailed toTrus- <br />tor at his last known address, I n all)' event. slIch permission to Trustor automatically shall be revoked upon default by Trustor in <br />payment of any indebted nellS secu rl'd hereby or in the performance of any agreement hereunder. 0 n any SUI' h default, Beneficiary <br />may at any time without notice, either in person, by agent. or by receiver to be appointed by the Court. and without regard to the <br />adequacy of any security for the i ndebtednesssecured hereby, enter upon and take possession of such property. or any part thereof, <br />make. cnncel. enforce or modify leases; obtain and eject tenants. set or modify rents; in its own name sue or otherwise collect the <br />rents, income. issues and profits thereof, including those past due and unpaid; Bnd appb' the same, less costs and expenses of opera- <br />tion and collection, includinR r(>n!'.onahle attorney's fees, upon any indebtedness secured hereby and in such order as Beneficiary <br />may determine; and except for such applicat iOll, Beneficiary shall not be I iable to any person for the collection or non collection of <br />any rents, income, issues or profi ts, for the fail ure to assert or enforce any orthe foregoing rights, nor shall Beneficiary be charged <br />with any of the duties and obligations of a mortgagee in possession. The enter inK upon and taking possession of such property, the <br />collection of such rents, income, isslles or profits. the doing of other acts herein authorized. llmi the application thereof as aforesaid, <br />shall not cure or waive any default or notice of default hereunder or invalidate any net done pursuant to such noLice, <br />Trustee's Sale on Default: Upon default by Trustor in payment of any indebtedness secured hereby or in performance of <br />any agreement hereunder, or any agreement secured hereby, Beneficiary may declare all sums secured hereby immediately due <br />and pa}'able and shall cause to be filed of record a written noticeof default and election to sell such property. After the lapseofsuch <br />time as then msy be required by law following recordation of such notice of default, and notice of sale having been given as then <br />required by law. Trustee, without demand on Trustor. shall sell such property, either as a wholeor in separate parcels, and insuch <br />order as it or Beneficiary may determine at public auction to the highest bidder. Trustee may postpone the saleofall or any portion <br />of such propert}. by public announcement at the time and place of sale, and from time to time thereafter may postpone the sale by <br />public announcement at the time nnd place fixed by the preceding postponement. Trustee shall deliver to such purchaser its deed <br />con\'eying the property so sold, but without any covenant or warranty. ex pres!'. or implied. The recital in such deed orany matters <br />of fart or otherwi!'.e shall be condusive IJroof of the truthfulness thereof. Any perSOll, including Trustor, Trustee or Beneficinry. <br />may Jlurchase at such sale. Trustee may also sell at any such sale and as part thereof any shares of COrlJOrate stock securing the obli- <br />gation secured hereby, and Trustor wai\'es demand and notice of such sale. (Beneficiary at its option may also foreclose on such <br />shares by independent J}ledge sale, and Trustor waives demand and notice of such sale,) Aft~r deducting all costs, fees and <br />expenses of Trustee. and of this Trust. including cost of evidence of title in conn{'ction with such sale. Trustee shall first apply the <br />proceeds of sale to payment of all sums expended under the terms hereof, not then repaid, with accrued interest at the rate then <br />pa)'able under the note or notes secured hereby, and then to payment of all other sums secured hereby, and if thereafter there be <br />any proceeds remaining. distribute them to the person or persons legally entitled thereto. <br />If this Deed of Trust or any note sel'ured hereby provides for any char$te for prt'payment of any indebtedness secured here. <br />by, Trustor agrees to pay said charl!"e. if any of said indebtedness shall be paid prior to the maturity date thereof stated in said <br />note or this Deed oC Trust. even if and notwithstanding Trustor shall have d('fau Ited to payment thereof. or in performance of any <br />agreement hereunder. and Beneficiar}' b)' reason thereof, shall have declared all sums secured hereby immediately due and <br />payable, <br />Substitution of Tru!lte~: That Beneficiary In a)' . from time to ti me. by instrument in w ritl ngo, substitute a successor or suc- <br />cessors to any Trust<!e named herein or acting hl'rcundpr. which instrulIll'nt, executed and acknowledged by Beneficiarl' and <br />recorded in the office of the register of deeu!'.lIf t h., "lIl1nty or counties where such property is situated. shall be conclusive proof of <br />proper substitution of such successor Trustee or Trustees. who shull, withllllt con\'eyances fro III the Trustee predecessor, suc('eecl <br />to all its title, estate. rights, power and duties. <br />No Waiver by Beneficiar)': No waiver by Beneficiary uf /lny rh.chl under this Deed of Trust shall be effective unless in <br />writing. Waiver by Beneficiary of any riJ;!"ht ffranled to Beneficiary under this Deed of 'frust or of an)' provision of this Deed of <br />Trust as to any transaction or occurrences shall not he ul'l'mcd 1\ Wai\'l'r IL'i to any future transaction or occurrences, By accepting <br />payment of any sum seeured hereby after its dU(o dute. or hy lIlak i!lg /lilY PI\)'lJll'ut IIr performing any lICt on behalf of Trustor that <br />Trustor was obligated hereunder, but failed, to make or pt!rfnnn, or uy uddin/{ any payment so made by Beneficiary tn the <br />indebtedness secured hereby. Beneficiary dnes nnt \\'lIive its ri/{ht to require prompt payment when due of all other sums so <br />secured or to require prompt performance of nil other acts re(luirl'd heft'under. or to declare II default for failure so to pay. <br />Waiver of Statute of Limitations: Time i!'.of the essence ill 1111 Trustor's obI igations hereu nder; and to the extent permitted <br />by law, Trustor waives all present or future statutes of limitations with respect to any debt, demand or obligation secured hereby <br />in llny action or prO<'eeding for the purpose of enforcing this Trust or all)' riJ{hts or remedies hereunder. <br />Inspectinn and Business Records: Beneficiary at any time durinK the continuation of this Trust may enter and inspect <br />such property at any reasonable time. Trustor ll~rees that in the evellt such property is now or hereafter used for commercial or <br />residential income purposes, when requested by Beneficiary. Trustor will promptly deliver to Beneficiary such certified financial <br />statements and profit and loss statements of such types and at such int(>rvals as may be required by Beneficiary which will be in <br />form and content prepared according to the usual and acceptable accounting principles and practices, which statements shall <br />cover the financial operations relating W such property and Trustor further agrees when requested by Beneficiary to promptly <br />deliver in writing such further additional information as required by Beneficiary relating to any such financial statements. <br />Acceleration Clause: Should Trustor, or any successor in interest of Trustor, voluntarily or involuntarily sell. exchange, <br />convey, transfer, contract to sell. lease with option to purchase, sublease. dispose of, change the character or use of, or further <br />encumber such property, or any part thereof. or any interest therein, or if lln}' of said parties shall be divested of title to such real <br />property or any part thereof or an}' interest therein either vo'untaril~' or i1.\'Olllntaril)', or if title to such property be subjected to nny <br />lien or charge voluntaril}' or involuntarily. contractual or statutory, without the ,,'riUen consent of Beneficiary being first had Bnd <br />obtained, then Beneficiar}' shall have the right, at its option, to declare all sums !'.ecured hereby forthwith due Bnd pa}'able; and <br />this same right of acceleration shall be available to Beneficiary if the undersigned is a partnership and the interest of a gellCral <br />partner terminates, is 85Signed or transferred, or is diminish('d or if the undersigned is II corporation and SIl}' of the corporate <br />.toek is transferred. sold or assigned: or if the undersigned is a lrust('l'of II trust and ther(> is a ehnnge of any ofthe benefiC'inl inter. <br />est of the trust. <br />Rf'mf'dit'l: No remedy h('rein pro\'idt!d lihall he exclusivc uf uny ollH'r rem('(ly hl'rt'i II or nnw or hereafter ex ist inR hl' In w. <br />but shall be cumulative. Ever)' power or remedy h('relly given to Trustce or to Belleficial'l' IIr to whirh t'ither of t hClTIlIllIY he other. <br />wi!\e~otltlpd, ma)' be exercised fl'llllltime to timp Rnd liS oflf.'n as I11I1Y bl' dCt'lIll'd ('"peelil'lll hy !twlIl.lI11n eitherofthern 11111)' <br />Illlr!lue illcoll!listent reml'uiell. If Bcneficil\r}' holds all)' additiunnl /IN'urit)' for nn.\' uhlij{lIlinn sl'('lIrl'u hl'rl'hy. ilml\v I'lIfurrl' th(. <br />&lIle t h('rl'of at itA option. ('!ther hefure, c{Jnt('l1I pnrll II e() l/1I I)' wit h, or aftl'r tl\(' 51\ I{' IS ITIRdl' hl'rf'IIIHll'r, and on any ddnlllt of Trustor. <br />Bf'ndirillf}' mil}', lit its option. offset ftj1;lIifl!lt RII}' illdt'ult'd'H'KS !ll'('l/n'" Ill'rl'hy, lInd thl' Hl'nl'!ll'lllr)' is hl,rt'hy lIuthori1l'd and <br />