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<br />88-10534e
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<br />and of any personal property located thereon with or without taking pos-
<br />session of the property affected thereby; and Trustors hereby absolutely
<br />and unconditionally assign all such rents, issues and profits to Benefi-
<br />ciary. Beneficiary, however, hereby consents to Trustors' collection and
<br />retention of such rents, is~ues and profits as they accrue and become
<br />payable so long as Trustors are not at such time in default with respect to
<br />payment of any indebtedness secured hereby or in the performance of any
<br />agreement hereunder. Upon any such default, Beneficiary may at any time,
<br />eitller in person, by agent, or by receiver to be appointed by a court,
<br />without notice and without regard to the adequacy of any security for the
<br />indebtedness hereby secured (a) enter upon and take possession of the
<br />Property or any part thereof and in their own name sue for or othe~~ise
<br />collect such rents, issues and profits, including those past due and
<br />unpaid, and apply the same, less costs and expenses of operation and
<br />collection, including reasonable attorney's fees, upon any indebtedness
<br />secured hereby and in such order as Beneficiary may d~termine; (b) lease
<br />the same or any part thereof for such rental, term and upon such conditions
<br />as Beneficiary's judgment may dictate or terminate or adjust the terms and
<br />conditions of any existing lease or leases. Unless Trustors and Benefi-
<br />ciary agree otherwise in writing, any application of rents, issues or
<br />profits to any indebtedness secured hereby shall not extend or postpone the
<br />due date of the installment payments as provided in the Note or change the
<br />amount of such installn.ents. The entering upon and taking possession of
<br />the Property, the collection of such rents, issues and profits, and the
<br />application thereof as aforesaid, shall not waive or cure any default or
<br />notice of default hereunder, or invalidate any act done pursuant to such
<br />notice. Trustors assign to Beneficiary, as further security for the
<br />performance of the indebtedness and obligations secured hereby, all prepaid
<br />rents and all moneys which may have been or may hereafter be deposited with
<br />Trustors by any lessee of the Property, to secure the payment of any rent
<br />or damages, and upon default in the performance of any of the provisions
<br />hereof, Trustors agree to deliver such rents and deposits to Beneficiary.
<br />Delivery of written notice of Beneficiary's exercise of the rights granted
<br />by this paragraph THIRD to any tenant occupying the Property or any portion
<br />thereof shall be sufficient to require said tenant to pay said rent to
<br />Beneficiary until further notice.
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<br />FOURTH: If there shall be filed by or against the Trustors any peti-
<br />tion or proceeding seeking an arrangement or composition or extension or
<br />any other relief under or pursuant to the Federal Bankruptcy Code or any
<br />other similar statute as now or hereafter in effect, or if the Trustors
<br />shall be adjudicated bankrupt or insolvent or any of Trustors' property
<br />shall have been sequestered and such decree shall have continued undis-
<br />charged and unstayed for 90 days after the entry thereof, then the whole of
<br />the Note and indebtedness hereby secured shall, without notice, at the
<br />option of the Beneficiary, become due and payable.
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<br />FIFTH: Upon default by Trustors in the payment of or performance of
<br />the terms and conditions of the Note, or any renewals, modifications or
<br />executions thereof, the payment of any other indebtedness secured hereby or
<br />in the pertormance of any agreement, covenant or warranty herein contained
<br />or set forth in any agreement or instrument executed by Trustors in con-
<br />nection with the indebtedness hereby secured, Beneficiary may declare all
<br />sums secured hereby immediately due and payable and the same shall there-
<br />upon become due and payable without presentment, demand, protest or notice
<br />of any kind. Thereafter, Beneficiary may deliver to Trustee a written
<br />declaration of default and demand for sale. Trustee shall have the power
<br />of sale of the Property and if Beneficiary decides the Property is to be
<br />sold, they shall deposit with Trustee this Deed of Trust and the Note or
<br />notes and any other documents evidencing expenditures secured hereb~', and
<br />shall deliver to Trustee a written notice of default and election to cause
<br />the Property to be sold, and Trustee, in turn, shall prepare a similar
<br />notice in the form required by law, which shall be du),y filed for record by
<br />Trustee.
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<br />(al After the lapse of such time as may be required by law following
<br />the recordation of Notice of Default, and notice of Default and Notice
<br />of Sale having been given as required by law, Trustee, without demand
<br />on Trustors, shall sell the Property hereinbefore described, and any
<br />and every part thereof, in separate parcels or en masse 85 the Trust~e
<br />may elect and in such order as Trustee may determine on the nLlte .1THI
<br />at the time and place designated in said Notice of Sale, ':It pul..,} il'
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