|
<br />. ~ ( d ) Trustor -,at" "i' ~qcured, pBrmlltBd or suflBred, voluntarily or InvoluntBrlly, eny crBdltor to obtain B ILBn not
<br />, · permlltBd hBrBI.t'upcin' 8fl ~r'tJart ot'.such proper;ly; Trustor or eny gUBrantor 01 the IndBbtednBss securBd hereliy BhBII.
<br />l'- become InsolvBnt 01 Bdmitln writing Its Inability to pay liS dBbts as thBY mature, or meke Bn assignment lor thB bBnBllt 01
<br />g crBdltors Dr Bpply lor or consBnllo thB Bppolntmentol a recBlvBr or truslBB lor It or lor a subatanllal part 01 such propBrty;or
<br />OSUCh B recBlver or trustse ShBII bB BppolntBd Bnd ahall not be discharged within thirty (30) dBYS allBr Bppolntmant; or
<br />
<br />'-f ( e ) A writ of eXBcutlon or attachmBnt or any similar procBss shall bB ISSUBd or levlBd agBlnstall or any part of or IntarBsI
<br />In such property, or any judgmBnt Involving monBtary damages shall be enterBd agBlnst Trustor which shall become a IIBn
<br />on such propBrtyDr portion thBreol or Intarest thersln and such eXBcutlon, BttachmBnt or similar process or Judgment Is not
<br />relBBsBd, bondBd, 88l1sflBd, VBCBtad or stayBd within sixty ( 60 ) days after Its Bntry or lavy; or
<br />
<br />I
<br />00
<br />CO
<br />
<br />( f) Bankruptcy. Insolvency, reorgBnlzatlon, arrangemBn~ or liquidation proceBdlngs or other procBBdlngB for rallef
<br />under any bBnkruptcy IBW or other law for thB rellBf 01 debtors shall bB Instltutad by or agBlnst Trustor or any Guarantor
<br />herBOI and iflnatltulBd BgBlnst such party shall bB consented to or shall not bedlsmlssBd wllhln sixty ( 60 ) dBYS BIIBr such
<br />Inslltullon; or
<br />
<br />( g ) Trustor or Bny successor In IntBrest of Trustor, voluntarily or Involuntarily should sell, exac~ convey, transfer,
<br />contract to sell, IBase with option to purchasB, sublBBse, dispose aI, change the character or use aI, or furthBr encumbBr
<br />such propBrty, or any part thereof, or any interest therein. or if Bny said partlBs shall bedivestBd bltitle to such real property
<br />01 any part therBof, or any IntBrest BlthBr voluntarily or Involuntarily, or If title to such propBrty be subjected to any lien or
<br />charge voluntarily or Involuntarily, contractual or statutory, wllhout the wrllten consent of Banellclary being first had
<br />obtalnBd, or
<br />
<br />OJ
<br />-5.
<br />$'11
<br />"iI~
<br />
<br />..,~ -5 ( h ) II Trustor Isa partnBrshlp and the InterBstola gensral partnertermlnales, Is BsslgnBd ortranslerrBd, or Is diminished
<br />J3 In any rBspec~ or If Trustor Is a corporation and a majority of thB voting corporBtB stock is transtBrred, sold or assigned, or If
<br />.., the Trustor is a Trustae 01 a Irust Bnd thers Is a change 01 any 01 thB Benellclallnterest of the trust; or
<br />S 51
<br />~ i3 ( I ) Trustor ShBlI, wlthoutthe consent 01 BenBflclBry, create or consenllo the establishment of a district which has taxing
<br />~ ID powers. .
<br />
<br />i ~ ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES: In the eVBnt 01 Bny default hBrBunder, Benellclary may, at
<br />'t; .S' lis option,:
<br />
<br />OJ'-<
<br />.j 'i ( B ) TBrmlnBte additional advBnces, " Bny, to be madB under or pursuant to the Promissory Note or Bny building loan
<br />8 11 agrBBmBnt; or
<br />
<br />~.~ ( b I DeclBrB Bny sum securBd hereby ImmBdlately dUB and payablB and thB 88me shall therB upon become due Bnd
<br />] ~ payablB without Bny prBsentmBn~ dBmand, protest or notlcB 01 any kind; or
<br />
<br />~ .!:l ( c ) At any timB, with or without notice, either In persDn, by agen~ Dr by recBlver to be appolntBd by the Court without
<br />.... .s ragBrd to the adequacy of any sBcurlty for the IndBbtednBss sBcured hBrBby, enter upon and take possession of such
<br />o ..,propBrty or any pBrt thBrBOf, makB, cBncBI, Bnlorceor modify leases; obtain and eJecttBnBnta, set or modify renls; In lis own
<br />.~ .. nBmesue orothBrwl8B collecllhe rBnls, Income, IssuBsand proflls thereof, Including thosB past dUB Bnd unpaid; and apply
<br />'5 t thB 88me, tBSS costa Bnd expBnsBs of DpBration, Including rBasonable Bttorney's IBB8, upon any IndBbtednB8ll BBCurBd
<br />c .~ hBrsby Bnd In Buch order BS BanBficlBry may dBtennlne; and BXCBpt for such Bppllestion, BBnBficlary shall not be IIBblB to
<br />~;1j any person forthB collection or noncollBctJon of any rsnls, Income, ISSUBB or prollts forthe IBllurB to assert or BnforcB any Df
<br />..... 2l the loragolng rig his, nor ShBII BBnellclary bychargBd wllh any ofthedutiBs and obllgBtlons 01 a mortgagBB In pos8Bsslon.
<br />o ~ The entering upon and taking pos8Bsslon 01 Buch property, ihe collectJon of such renls, IncomB, ISSUBSDr prollts. the doing
<br />~ "Sl of othBr BCIs herein ButhorizBd, and the Bppllestion thereol as alOrB88ld, shall not cure Dr wBIVB any dBfault or nolice of
<br />u iii dBfaUit hBreundBr or invalidate Bny act donB pursuant to such notice; or
<br />.. S
<br />
<br />~ ~ ( d ) Cause to be IIIBd on record. a written notice 01 dBlault and election to sell such property. AIIBr thB IBpse 01 such time
<br />~ as thBn mBY be requirBd by law following recordBlIon 01 such nOIlCB 01 dBfaul~ and notice 01 salB having bBBn given BS
<br />..,~ OJ requlrBd by IBW. Trustee without demBnd on Trustor shall sell such prDpBrty, either asa wholBorln separstepercel8,and In
<br />-5 such ordBr as it or BBnBllclary may determlnB at public auction to the highest blddBr. ThB Trustee may postpone Ihe sale Df
<br />... 3 BII or any portion 01 such propBrty by public announcement at the tlmB of sale, and Irom tlmB to time therealler, may
<br />t .., postponB thB 88IB by public announCBmBnt at the lime and place IIXBd by the precBBdlng poatponBmBnt TrustBB shall
<br />.~ Ii dBllvBr to such purchBsBr its dBBd convBylng the propBrty so sotd, without any cOVBnant Dr warranty, express or impllBd.
<br />.~ ~ The rBcltalln such dBBd of any mBttBrs ollact or othBrwlse shall be concluslvB prool OfthB truthfulnasB thBreof. Any perBon,
<br />i! Including Trustor, TruSteB or BBnellciary, mBY purchase at said salB. Trustee mBY Blso sell at any such sale and as B part
<br />~ i thBreof, Bny shares of corporste stock securing thB obligation secursd hBreby, and Trustor walvBs dBmBnd and notlcB of
<br />"Sl Iil such sale. (BBnellclary at lie option may also loreclose on such shBrss by IndBpendent plBdge sale, Bnd Trustor waivBs
<br />iii .c dBmand 01 notice of such 88IB.) Aller deducting all coats,fees and expBnSBS of Trustee, Bnd of this trust, Including cost of
<br />S 8 evldenCB of tmB In connection with such sale, Trustee shallllrst Bpply the procBBds 01 88IB to the paymBnt of all sums
<br />'il .~ expendBd undBr the tBnns hBreol, not thBn rBpald, with accruBd interest at the rBte then paYBble under the note or notes
<br />!:';!: securBd hBrBby. and thBn to peymBnt ofall other sums sBcurBd hBreby, Bnd iltherealler there bB any proceeds remaining,
<br />... l:: dlstrlbuta tham to the person or persons legally entitlBd thereto.
<br />~I ~ (a)*
<br />... ofj II this DB8d 01 TruBt or any notB securBd hereby provides for any charge lor prepayment 01 any Indebtednell8 securBd
<br />~ 0 hereby. Trustor 811rBBS to pey I18ld chBrgB, "Bny of said indebtBdnBss shall be paid prior to thB mBturity date thBrsol BtatBd
<br />~ in said note or thlB DBBd 01 Trust. eVBn If and notwithstanding Trustor BhBII have defBultBd In payment thersol, or In
<br />...~ Iii pBrfonnanceofany BgrBBment herBunder, and BBnBliclary by reBson therBOf, shall have declarBd all sums secured hereby
<br />... 51 ImmBdiBtBly due Bnd peyable.
<br />
<br />!il: SCHEDULE OF LEASES: Within ten ( to) dBysBfter demand, Trustor shalllurnish to Trustee or BBneliclary a schBdule,
<br />~ certlllBd by Trustor. setting forth allleasesofauch proPBrly,lnciudlng, in each esse, the name OlthB tenBnlsor occupanls. a
<br />~ description of llIe space occuplBd by such tBnBnt and occupan~ the renlBl PBysblB for such spBce Bnd such other
<br />.. InformBtiDn Bnd documents with respact to such leases and tenancies BS the Trustse or BBnellclary may request
<br />
<br />COVENANTS OF TRUSTOR WITH RESPECT TO LEASES: Without thB prior wrlllen consent of Trustee or BenellclBry.
<br />Trustor shBII not directly or indirectly, with rMpact to Bny IBBse of SpaCB In such property, whether such leBse Is not 0'
<br />herll811Br In existence: ( B ) BCCept or parmltany prepByment discount or advance payment of rBnt IhereundBr; ( b ) CBncel
<br />or termlnste the same, 01" BCCepl any cancallBtion, termlnBlIon Dr sur,endBr thereol, or permit any evenlto oecur which
<br />would enli1le thel_thentllnder tolannlnBla or cancel the ume: I c I ..mend or modify the same so as tD rBduee lhelarm
<br />
|