|
<br />88- 104li07
<br />
<br />to any action for the condemnation or partition of such
<br />property.
<br />
<br />10. Condemnation: All sums due, paid or payable to
<br />Trustor, or any successor in interest of Trustor, whether by way
<br />of jUdgment, settlement or otherwise, (a) for injury or damage
<br />to such property, or (b) in connection with any condemnation for
<br />public use or injury to such property or any part thereof, or
<br />(c) in connection with the transaction financed by the loan
<br />secured hereby, or (d) arising out of all causes of action,
<br />whether accruing before or after the date of this Deed of Trust,
<br />sounding in tort or contract, including causes of action for
<br />fraud or concealment of a material fact, together' with the
<br />settlements, proceeds, awards and damages, direct and
<br />consequential, in connection therewith, are hereby absolutely
<br />and irrevocably assigned, as additional security for the
<br />obligations of Trustor hereunder, and shall be paid to
<br />Beneficiary. Beneficiary shall be entitled, at its option, to
<br />commence, intervene in, appear in and prosecute in its own name,
<br />any action or proceeding, or to make any compromise or
<br />settlement, in connection with any such taking or damage.
<br />Trustor agrees to execute such further assignments of any
<br />compensation, award, damages, rights of action and proceeds as
<br />Beneficiary may require.
<br />
<br />All amounts received by Beneficiary pursuant to this Deed of
<br />Trust under any fire or other insurance policy, in connection
<br />with any condemnation for public use of or injury to such
<br />property, for injury or damage to such property or in connection
<br />with the transaction financed by the loan secured hereby are to
<br />be applied, at the option of Beneficiary, upon any indebtedness
<br />secured hereby without premium or penalty. No such application,
<br />use or release shall cure or waive any default, or notice of
<br />default, hereunder or invalidate any act done pursuant to such
<br />notice.
<br />
<br />11. Consent, Partial Reconveyance, Etc.: That at any time,
<br />or from time to time, without liability therefor, and without
<br />notice, upon written request of Beneficiary, and without
<br />affecting the personal liability of any person for payment of
<br />the indebtedness secured hereby, or the lien of this Deed of
<br />Trust upon the remainder of such property for the full amount of
<br />the indebtedness then or thereafter secured hereby, or the
<br />rights or powers of the Beneficiary or the Trustee with respect
<br />to the remainder of such property, Trustee may (a) reconvey any
<br />part of such property, (b) consent to the making of any map or
<br />plat thereof, (c) join in granting any easement thereon, or (d)
<br />join in any extension agreement or any agreement subordinating
<br />the lien or charge hereto.
<br />
<br />12. Full Reconveyance: That, upon written request of
<br />Beneficiary stating that all sums secured hereby have been paid,
<br />Trustee shall reconvey, without warranty, the property then held
<br />hereunder. The recitals in such reconveyance of any matters of
<br />
<br />-10-
<br />
|