|
<br />( d ) Trust!Jr shall have procured, permitted or suHered, voluntar::y or Involuntarily, any creditor to obtain a lien not
<br />permitted horein upon all or part of such property; Trustor or any gl),arantor 01 the indebtedness secu<ed hereby shall
<br />become Hlsolvent or'admit in writing its inabili'l to pay its debts as they mature, or make an assignment for the benefit 01
<br />creditors or apply lor or cOnsent to the appoin' ,nenl of a receiver or trustee for it or for a substantial part of such property. or
<br />such a receiver or trustee shall be appointee, and shall not be discharged within thirty (30) days after appointment or
<br />
<br />( e ) A writ 01 execution or attachment or any similar process shall be issued or levied against all or any part 01 or interest
<br />In such property, or any judgment involving monetary damages shall be entered 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 enlry or levy; or
<br />
<br />( f ) Bankruptcy. insolvency. reorganization, arrangement. or liquidation proceedings or other proceedings lor relief
<br />under any bankruplcy law or othbf law lor the relief of debtors shall be instituted by or against Trustor or any Guarantor
<br />hereol and il instituted againsl suci') party shall be consented to or shall not be dismissed within sixty ( 60 )daysafter such
<br />Institution; or
<br />
<br />( g ) Trus,or or any successor In interest 01 Trustor. voluntalily or involuntarily should sell. exact, convey, transfer,
<br />contract to sell, lease with option to purchase, sublease, dispose 01, change the character or use of, or further encumber
<br />such pro~erty, or any part thereot. or any Interest therein. or II any said parties shall be divested of tille to such real property
<br />01 any part thereot. or any interest eIther vvluntarily or involuntarily, or il title to such property be subjected to any lien or
<br />charge voluntarily or InvolunlHrily, contractual or statutory, Without the written COhsent ot Beneliciary berng first had
<br />obtained, or
<br />
<br />( h )" Trustor IS a partnership and the Interest 01 a general partner termlnates,lsasslgned or transferred, or IS diminished
<br />In any respect, or If Trustor IS i1 corporation and a malorlty otthe voting corporate stock IS transferred, sold or asslgnea, or II
<br />the Trustor IS A Trustee 01 a tru~ I and there IS a change 01 any of the BenefICial Interest of the trust; or
<br />
<br />( , ; T'uslor shall, wlthoulthe consen' 01 BenefiCiary, creale or consent to me establishment of a diStrict which hastaxmg
<br />powers
<br />
<br />ACCELERATION UPON DEF AUL T, ADDITIONAL REMEDIES In the event of any delault hereunder, BenefiCiary may, at
<br />Its option,
<br />
<br />I a ) Terminate additional advances, If any, to be made unde' or pursuant to lhe P'om,ssory Note or any bUlldmg loan
<br />agreement; or
<br />
<br />( b ) Declare any SL!m securNl hereby Immedlalely due ana payable and the same shall there upon become oue and
<br />payable without any presentment. demand, protest or nohce 01 any kind; or
<br />
<br />I c ) Al any time, wllh or wlthouf nollce. either In person. by agent. or by receiver to be apPointed by the Court w.thoul
<br />regard to the adequacy 01 any security for the Indebtedness secured hereby, enler upon and take possession of SuCh
<br />property or any part thereol, make. cancel, enlorce or modify leases, obtain and eject tenants, sel or modify rents; In rts own
<br />name sue or otherwise collect the rents, Income, Issues dnd prollts thereol, Including those past due and unpaid; and apply
<br />the same. less costs and expenses 01 operation, Including reasonable attorney's fees, upon any Indebtedness secured
<br />hereby and in such ardor as BenefiCiary may determine; ..,Id except for such application, Beneficiary shall not 'be liable to
<br />any person tor the collection or noncollecllon 01 any rents, Income, ISSUes or prolits lor the failure to assert or enforce any of
<br />the loregoing rights. nor shall BeneflCI<-ry by charged with any 01 the dulles and obligations of a mortgagee to possesSion
<br />The entering upon and laking posseSSIOn of such property, the collection 01 such rents. mcome. Issues or profits. the dOing
<br />of other acts herern authOrized. and the application thereof as aloresald, 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 liled on record, a w.ltten nollce of detault and election to seil such property, After the lapse of such time
<br />as then may be reQuired by law following recordation 01 such notice 01 delault and notice of sale havmg been given as
<br />reqUired by law, Truslee without demand on Trustor shall sell such property. either as a whole orin separate parcels. and to
<br />such order as It or Beneliclary may determine at pubhc au chon to the highest bidder The Trustee may postpone the sale of
<br />all or any portion 01 such property by public announcement at the time at sale, and from time to time thereafter. may
<br />postpone the sale by publiC announcement at the time and place fixed by the preceechng postponement Trustee shall
<br />dehver to such purchaser its deed conveYing the property so sold. without any covenanl or warranty. express or Implied
<br />The recItal In such deed 01 any matters of tact or otherWise shall be conciuslve proof olthe truthfulness thereot Any person,
<br />Including Trustor, Trustee or Bf:nellclary, may purchase at said sale Trustee may also sell at any such sale and as a part
<br />thereol, any shares ot corporate stock securing the obligation secufGd hereby. and Trustor waIVes demand and notice 0'
<br />such sale, (BenefiCiary at Its opllon may also lo,eclose on such shares by Independent pledge sale. and Trustor waIves
<br />demand 01 notice 01 such sale.) After deducting all costs. fees and expenses of Trustee, and 01 thiS trust mCludmg cost 01
<br />eVidence of tille In connection With such sale, Truslee shallllrst apply the proceeds 01 sale to the payment of all sums
<br />expended under the terms heraol, not then repaid, With accrued Inlerest at the rate Ihen payable under the note or notes
<br />secured hereby, and then to payment of all other sums secured hereby. and If thereafter lhere be any proceeds remamlng
<br />dIstribute them to Ihe person or persons legally enhlled there'o
<br />
<br />It 'hi!! Deed 01 Trusl or any note secured hereby prOVides lor any charge tor prepaymenl of any Indebtedness secured
<br />hereby, Trustor agrees to pay said charge, If any 01 said Indel:>ledness shall be patd pnor 10 Ihe matunty dale Ihereof stated
<br />'" !laid note or this Deed 01 Trust. even ,f and notwlthslandlng Trustor shall have delaulted '" payment thereol. or '"
<br />lHlr10rmance of any agreement hereunder. and Benelicia ry by rea~on thereol, shall have declared all sums secured hereb~'
<br />Immediately due and payabla 0:)
<br />00
<br />SCHEDULE OF LEASES: Within tan ( 10 ) days after demand, Trustor shall furnIsh '0 Trustee or Benehc.ory a schedule ,
<br />corllliod by Trustor, setting lorth all leases 01 such property, Including, In each case, the name 01 the tonanls or occupants !l~.
<br />deSCriptIon of lho space occuplod by such lenant and occupanl, the rental payable lor suCh space and such othe' 6
<br />,ntormatlon and dQcumenl!l With respecl '0 such leases and lenancles as lhe Trustee or BenefiCiary may request
<br />W
<br />
<br />r:.OVENANTS OF 1 RUSTOR WITH RESPECT TO LEASES W'thout tho pliO' wrrlten consonl 01 Truslee l'l Bl.'nohcmry 0
<br />1 ru~'or !lhllll not. d,roctly or ,ndlmclly, wllh raspect 10 any loase of space ,n such prOD(1(t,. wht>thol such lense IS nol ,~;ao
<br />hmllll!lor ,r, OWIn.loncc { 11 I accopt or pormllllny prepaymonl, dlscoun' or advanco payment 01 ,(\ntlh(\reundpr.I b \ cllncp~
<br />'11 lo,m,nlllo Ihll ~lIm(J or accept tiny ctlncelloUon, lormlnatlon or !lUrrenOlll Ihm(Oo' or p[>lm,' nny pvt.nl t(1 oec", whICh
<br />~f""Jld u"n,,1In IM-o I01l.tJ.4.'.' thotounder to ,c,""nn1e f.)r CAncoi Ih(! snrnp., c I amonr1 tlr mndlfv th(1 "l"np!'<lt \ il,. tt' '~"t1UCfl th~ !pr",
<br />
|