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88105119
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88105119
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Last modified
3/9/2007 5:41:41 PM
Creation date
3/9/2007 4:41:11 AM
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DEEDS
Inst Number
88105119
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<br />88-- <br /> <br />105119 <br /> <br />6. Condemnation. In the event the property, or any part <br />thereof, shall be taken by eminent domain, the Beneficiaries are <br />entitled to collect and receive all compensation which may be paid <br />for any property taken or for damages to property not taken, and <br />the Beneficiaries shall apply such compensation, at their option, <br />either to a reduction of the indebtedness secured hereby or to <br />repair and restore the property so taken. <br /> <br />7. Performance by Beneficiaries. Beneficiaries may, but <br />shall have no obligation to, do any act which Trustors have agreed <br />but failed to do, and Beneficiaries may also do any act they deem <br />necessary to protect the lien hereof. Trustors agree to repay, <br />upon demand, any sums so expended by Beneficiaries for the above <br />purposes, and any sum so expended by Beneficiaries shall be added <br />to the indebtedness secured hereby and become secured by the lien <br />hereof. Beneficiaries shall not incur any liability because of <br />anything it may do or omit to do hereunder. <br /> <br />B. Assiqnment of Rents. Beneficiaries shall have the right, <br />power and authority during the continuance of this Deed of Trust <br />to collect the rents, issues and profits of the property and of <br />any personal property located thereon with or without taking <br />possession of the property affected hereby, and Trustors hereby <br />absolutely and unconditionally assign all such rents, issues and <br />profits to Beneficiaries. Beneficiaries, however, hereby consent <br />to Trustors' collection and retention of such rents, issues and <br />profits as they accrue and become payable, so long as Trustors are <br />not, at such time, in default with respect to payment of any <br />indebtedness secured hereby, or in the performance of any <br />agreement hereunder. If any event of default described hereafter <br />in respect to this Deed of Trust shall have occurred and be <br />continuing, Beneficiaries, as a matter of right and without notice <br />to Trustors or anyone claiming under Trustors, and without regard <br />to the value of the trust estate or the interest of the Trustors <br />therein, shall have the right to apply to any court having <br />jurisdiction to appoint a receiver of the property. <br /> <br />9. Inspections. Beneficiaries, or their agents, <br />representatives or workmen, are authorized to enter at any <br />reasonable time upon or in any part of the property for the <br />purpose of inspecting the same and for the purpose of performing <br />any of the acts they are authorized to perform under the terms of <br />any loan instruments executed by Trustors. <br /> <br />10. Transfer of Property. If all or any part of the property <br />or any interest of Trustors therein is sold, transferred or <br />further encumbered without the express or written consent of <br />Beneficiaries, Beneficiaries may, at their sole option, declare <br />all sums secured by this Deed of Trust to be immediately due and <br /> <br />-3- <br />
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