|
<br />6, Additional Llana and ProtKllon 01 Banellclary'. Security, Trustor shall make all paymems of Inlerest a~~=p~aQd~a~~t~of any
<br />other charges, loes and expenses contracted to be paid to any existing lienholders or prior benellclarles under any prior deed 01 trust or mor.
<br />tgage belore tile date they are delinquent and promptly pay and disc' large any and all other liens, claims or charges which may Jeopardize Ihe
<br />security grantod herein, " Trustor lalls to make any euch payment ',r lalls to perlorm any 01 the covenants and agreemente contained In this
<br />Deed 01 Trust, or In any prior mortgage or deed 01 trust, or" any a',tlon or proceeding Is commenced which materially allects Benellclary's In.
<br />tereslln the Property, Including, but nol limited to, ('mlnent doma!n proceedings, or procoedlngs Involving a decedent, or If Truslor lalls 10 pay
<br />Trustor's debts generally as they become due, then Benellclary, at Beneflclary'o option and without notlco to or demand upon Trustor and
<br />without releasing Trustor Irom any obligation hereunder, may make duch appearances, disburse such sums, and take such action as is
<br />necessary to protecl Beneficiary's Intersst, Including, bul nol limited to, disbursement o. reasonable attorney's lees, payment, purchase, con,
<br />lest or compromise 01 any encumbrance, charg.. or lien, and enlry upon the Property to make repairs, in the event that Trustor shall lall to
<br />procure Insurance or to pay taxes, assessments, or any other charges or to r"ake any payments to existing prior lien holders or benellclarles.
<br />Beneficiary may procure such Insurance and make such payment. Any amounts olsbursed by Beneficiary pursuant to this Paragraph 6 shall
<br />become additional Indebtedness 01 Trustor secured by this Deed of Trust. Such amounts shall be payable upon notice Irom Benellclary to
<br />Trustor requesting payment thereol, and ahall bear Interest from the date of dlsbursem&nt at the rate payable from time to time on outstanding
<br />principal under the Note unless payment o' Interest at such rate would be contrary to applicable law, in whlo.;h event such amounts shall bear in.
<br />tereat at Ihe highest rate permlseible under applicable I~w, Nothing conlalned In this Paragraph 6 shall require Bonellclary to Incur any expense
<br />or take any action hereunder,
<br />
<br />7. "..!gnment of Rent., Benellclary shall have Ihe right, power and authority during the continuance of this Deed of Trust to collect the rents,
<br />Issues and profits of the Property and o. any per~onal property located Ihereon with or without taking possession of the property allected
<br />hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, Issues and profits to Benellclary. Benellclary, however, hereby
<br />consents to the Trustor's collection and retention 01 3uch rents, Issues and profits as they accrue end become payable so long as Trustor Is not,
<br />lit such time, In delault with respect to payment of any Indebledness secured hereby, or In the perlo'mance 01 any agreement hereunder. Upon
<br />any such default, Beneficiary may st any time, ellher In person, by agent, or by a receiver to be appolnled by a court, without notice and without
<br />regard to the adequacy 01 any securlly for the Indebtednes~ hereby secured, (a) enter upon and taka possession of the Property or any part
<br />Ihereof, and 111 lis own name sue for or otherwise c('lIect such rents, Issues and proflls, Including Ihose pas I due and unpaid, and apply the same,
<br />less costs and expenses of oporatlon and collecllon, Including reasonable atlorneys fees, upon any Indebledness secured hereby, and In such
<br />order ae Beneficiary may determine; (b) perform such acls of repair or protection as may be necessary or proper to conserve the value of the
<br />Property; (c) le8llethe same or any part there"f for such renlal, term, anti upon such condlllons as Its judgment may dictate or lermlnale or ad.
<br />just the terms and condlllons of any exlslln\jlease or leases, Unleas Trustor and Beneficiary agree otherwise In wrlllng, any application of rents,
<br />Issues or profits to any Indebtedness secured hrreby shall not llxtend or postpone the due date "f Ihe Inslallment payments as provided In said
<br />promlstlory note cr change the amount 01 such Installments, The enterlnll upon and taking possession of the Property, the collection 01 such
<br />renls, luues and proflls, and the appllcallon thereo; ~s aforesaid, shall nol waive or cure any del au II or notice of defaull hereunder, or Invalidate
<br />any ecl done pursuant to such not Ice, Trustor also assigns 10 Benellclary, as further security for Ihe performance of the obligations secured
<br />hereby, all prepaid renls and all monies which may have been or may hereafter be deposited with said Trustor by any lessee of fhe Property, 10
<br />secure Ihe payment of any rent or damages, anti upon default In the perf 01 mance 01 any of Ih.a provisions hereol, Trustor agrees to deliver such
<br />rents and deposits to Benellclary. Delivery of wrltlen notice of Beneficiary's exercise of the rights granled herein, to any tenant occupying said
<br />premises shall be sufficient to require said tenant to pay said renllo the Beneficiary until furlher nollce,
<br />
<br />B. Condemnation. Iflltle to any part of the Property shall be laken In condemnation proceedings, by right of eminent domain or similar aclion,
<br />or shall be sold under threal 01 condemnation, all awal ds, damages and proceeds are hereby assigned and shall be paid 10 Beneflclliry who shall
<br />apply such awards, damages and proceeds 10 the sum secured by this Deed of Trust, wllh the excess, If any, paid to Trustor, If Trustor receives
<br />any notice or other Information regarding such actions or proceedings, Trustor shall give prompt wrlllen notice thereof to Beneficiary.
<br />Beneficiary shall be entitled, at Its option, fo commence, appear In and proseculeln It~ own name any such acllon or proceedings and shall be
<br />entitled to malle any compromise or setllemenlln connecllon with any such action or proceedings.
<br />
<br />9, RamecI"e Not belu.I,.. Trustee and Beneficiary, and each 01 them, shall be entitled to enforce payment anci performance of any Indebted.
<br />ness or obligations secured hereby and to exercls'! all rig his and powels under this Deed of Trust or under any other agreement executed In con.
<br />necllon herewith or any laws now or hereeller In force, not-wllhstandlng some or ell 01 the such Indebtedness and obllgallons secured hereby
<br />may now or hereafter be otherwise secured, wh~thar by mortgage, deed of trust, pledge, lien, lIsslgnmenl or olherwlse, Neither the acceptance
<br />01 Ihls DlHId of Trust nor lis enforcemenl whethllr by court actlnn or pursuant to the power of sale or other powers herein contained, shall
<br />prejudice or In any manner affect Trustee's or Beneficiary's rlghl to realize upon or enlorce any other security now or hereater held by Trustee or
<br />Benellclary, It being agreed Ihal Trustee and Beneficiary, and each ollhem, shall be entitled to enlorce Ihls Deed of Trust and any other securlly
<br />now or hereafter held by Benellclary or Trustee In such order and manner as they or either of Ihem may In tMlr absolute discretion determine. No
<br />remedy herein conferred upon or reserved to Truslee or Benellclary Is Inlended to be exclusive 01 any other remedy herein or by law provided or
<br />permitted, but each shall be cumulative and shall be In addition 10 every olher remedy given hereunder or now or hereafter existing at law or in
<br />equity or by statuto, Every power or remedy provided hereunder this Del'd 01 Trust to fruslee or Benoflclary or to which either of them may be
<br />otherwise entitled, may be exercised, concurrently or Independently, from limp '0 lime and as ollen as may be deemed expeOlent by Truslee or
<br />Benellclary and either of them may pursue Inconsistent remedies, Nolhlng herein shall be conslrued as prohlblllng Benellclary tram seelllng a
<br />dellclency judgment against Ihe Truslor fo Ihe exlent such IIcllon IS permllted by law,
<br />
<br />10, Trlllnsl.. 01 the PropIrty; ""\lmptlon, If all or any pert of the property or any Interost therein Is sold, transferred or conveyeO by Trustor
<br />wlthoul Beneficiary's prior written consent, excluding (a, the creation 01 a lien at encumbrance subordlnale to this Deed of Trust. (b) the creation
<br />01 a purchase money securlly Interest for household appliances, Ie) a transfer by dtovlse, descont or by operation of law upon the death 01 B Jolnl
<br />tenant or (dl the granl of any leasehold Inlerest of three years or less not containing an option to purchase, Benellclary may, et Beneficiary's op-
<br />tion, declare all the sums secured by this Deed of Trust to be Immedlatelv due and Davable, or cause the Trustee to file a notice 01 delault
<br />Benellclary shall have waived such option to accelerate if, prior to the sale, Transfer or conveyance, Benellclary and the person to whom the
<br />property Is to be sold or transferred reach agreement In writing that the credll of such person 15 sallslactory to Beneficiary and that the
<br />Interest payable on Ihe sums secured by Ihls Deed of Trust shall be at BUch rate as Beneficiary shall request
<br />
<br />11, "ccarleratlon upon Dalault, Remedies; 5.1.. Upon delault by Truslor In the payment of or performance o' the terms and conditions of tile
<br />Note, or any renewals, modifications or exlonslons thereof, or the payment of any olher Indebledness secured hereby or In the performance 01
<br />any 01 the covenants or agreements hereunder, Benellclary may declare all sums secured hereby Immedlalely due and payable and the same
<br />shall thereupon become /jue and payable wlthoul presentment, demand, protest or noflce of any kind. Thereafter, Benellclary may dellvel to
<br />Trustee a written declaration 01 delault and demand lor eale, Tru&tee shall have the power of sale ollhe Property 9nd If Beneficiary declOes the
<br />Property Is 10 be sold II shall deposit with Truslee thla Deed of Trust and the Note or notes and any other documents evidencing expenditures
<br />secured hereby, and shall deliver to Trustee a wrlllen nollce of default and election 10 cause the Property to be sold, and Trustee, In turn, shall
<br />prepare a similar notice In the form required by lal'J which shall be duly fll<9d lor record by Trustee.
<br />
<br />la> Alter the lapse of such time as mav be required by law lollowlng the recoroatlon of Noflce 01 Default, and ,,"otlce 01 Default and NOIIC.. 01
<br />Sale ha.lng been given 8S required by law, Trustee, wllhout demanc' on Trustor, shall sell the Property In one or more parcels and In such order
<br />as Trustor may determine or. the dale and at the time and place designated In said Notice of Sale, at publiC auction to lhe highest blOCltlr, the
<br />purchase price payabla In cash In lawlul money ot the United States atlhe time 01 sale. The person conducllng the sals may. for <iny cause he 01
<br />she dlltlms expedient, poslpone the sale from time to time until If shall be completed and, In every such case, nollce of postponement shall be
<br />given by public Oeclaratlon thereof by such person at the lime and place last appointed tor the sale, provided, II the salllls postponed lor longel
<br />than one (1) day beyond the day designated In Ihe Notice of Sale, notice thereol shall be given In the same manner as tho original Notlco 01 Sale
<br />Trustee shall execute and deliver \0 the purchaser Its Deed conveying the Property so sold, but wlthoul any covenanl or wsrranty e.press, or
<br />Impllod, The recitals In the Deed of any moilers or facts shall be conclusive proof of lhe truthfulness IMroof Any pelSOn .ncludlng wllhoul
<br />IImllatlon Benellclllry or Truste", may purchaso atthe Mle
<br />
<br />Ibl When frustee sells pursuant to fhe powers hornln, Trustee sl1allepply tho proceedS 01 t"e sale to paymenl nt t"e cosIO ArHl e.ponses 01
<br />exarclslng Ihe power of salo and 01 \he SOlO, Including, wllhout IImltallon, the peyment of Trustee's Fe\Js IncurrOll .."'c" Trustoe" Foes 8"all nol
<br />In the aggregate excood Ihe 'allowing amounts bnsed upon the amuunl seclHed hereby and remaining unpaid ~) porca,,'um on lhe balance
<br />theroal; IIlnd lhen to the Iloms sol forth In subparagraph (c) hereolln the order Iheleln slaled
<br />
<br />--'
<br />
|