88106347 - Laserfiche WebLink

Browse

~'f~Gi)G 1: ~S-106347 5. ,..... Alltl.mlnll, .,. a........ Trustor sholl pay 011 toxes, Dssessments and olher chorges, Includlno. withoullll1litolion, rines and lm~ po.ilion,onrlbu'oble.o the Proper'y. ond leosehold poymen', or ground renl.. if ony. belore Ihe .omo become dollnquenl. Tru.lor sholl promp- tly rumlsh.o Beneflciory all notices of omounls due under Ihls pDtogroph. ond In the eyenl TruSlor sholl moke poymenl directly, Truslor sholl Imptly rurnlih '0 BenDficiory receipls eyidencing such poyments. Trus.or sholl poy oil loxes ond OSSDssmonl. which moy be loyied upon Beneficiary's inler..' herein or upon this Deed 0' Trusl withoul regord loony low thaI may be enocled impo.ing payment of .he whole or any port .hereof uponlhe Beneficiary, 6. A.......... Uen, an. Prote"lon of lenelkla,,'e Socurll,. Tru..or sholl make all payments 0' Inleresl and principal and pOYlllenlS 0' any olher charg,s. fees and expenses conlrocled '0 be paid 10 any exisling lienholders Dr prior beneficiaries under any prior deed of Iru.' or mar- tgog. before the dole Ihey ore delinquent and promptly pay and discharge any and all olher liens, cioim. or charge. which may jeopardize Iho security granled herein. If Trustor foils 10 molee ony such payment or falls '0 perform ony of the covenants and agreements c[lntained in this D..d 01 Trus', or In any prior marl gage or deod of Irusl, or if any oclion or proceeding i. commenced which molerially affects Beneficlory's in. teresl in the Property, Including, but not limited to, eminent domain proceedings. or proceedings involving 0 decendent, or if Trustor foils to pay Trustor's debt. generally os they become due, Ihen Beneficiary, at Beneficiary's oplion and withoul notice to or demand upon Tru,'or ond withoul releosing Trus.or from ony obligation hereunder, may make .uch oppeoronces, disburse such sums, ond loke such oction os is necessary 10 protect Beneficiary's interest including, but not limited to, disbursement of reasonable attorney's fees, payment, purchase, contest or com. promise of any encumbrance, charge ar lien, and enlry upon the Property to make repairs. In Ihe event thot Truslor sholl foil to procure in- surooce Dr to pay taJl;es~ assessntents, or any other charges or 10 make ony payments to existing prior lien holders or beneficiaries, Oeneficiary may procure such insurance and make such payment. Any amounls disbursed by Beneficiary pursuant to this Porogroph 6 sholl become additional indebtedness of Trustor secured by this Deed of Trust. Such amounts sholl be payable upon notice from Beneficiary 10 Truslor requesting pay- ment thereof, and shall bear inlerest from the dote of disbursemenl at the role payable from time 10 time on outslanding principal under rhe Note unless payment of interesl at such role would be contrary to applicable low. in which event such mnaunts sholl beor inleresl 01 the highesr role permissible under applicable low. Nothing contained in this Paragraph 6 sholl require Beneficiary 10 incur ony expense or lake any oclion hereunder. 7. AlIlgnmenl of Renll. Beneficiary 5h"1I hove the righi, power and aulhority during 1he conlinuance of this Oeed o( Trusl 10 collect the rents. Issues and proms of the Property and of Dny personal property lacaled Ihereon with or without taking possession of Ihe prollerly oHt!'cted hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary. Beneficiary, however, hereby consents to the Trustor's collection and relent ion a( such rents. issues and profits as they accrue and become payable 50 long os Trustor is nDI. 01 such time, in de(ault wilh respect 10 payment of any indebtedness secured hereby, or in the performance of anv agreement hereunder. Upon any such deloull. Beneficiary may 01 ony lime, either in person. by agent, or by receiyer to be oppoinled by 0 courl, wilhoul no lice and wlthoul regard '0 Ihe adequacy 01 ony security lor Ihe indebledness hereby secured, (0) enter upon ond lake possession of Ihe Properly or any porI thereo', and in its own name sue 'ar or otherwise collect such rents, issues cnd profils. including those pas1 due and unpaid. and apply the same, less tosts. and expenses of operation and collection, including reasonable alforneys (ees, upon a~y indebtedness secured hereby. and in such order os Beneficiary may delelmlne: (b) perform such acts of repair or protection as may be necessary or proper to conserve the value of Ihe Properly: (e) lease the some or any port thereof for such rental, term, and upon such conditions os ils jud!Jment may dictate or terminale or od. just the terms and conditions of any existing lease or leases. Unless Trustor and Beneficiary ogree otherwise in writing, OilY application of rents, Issues 0( profits to any Indebtedness secured hereby slioll not oxlend or postpone Ihe due dole of Ihe instolhnenl poymenls os proyided in said promis5ory nole or change the amount Df such installments. The entering upon and taking possession of Ihe Proporty, tho collodion of such rents, issues Dnd profits, and the application thereof as aforesaid, shall not waive Dr cure anv default or notice of default hereunder. or in. yolidale any od done pursuont to 5uch notice. Trustor also assigns to Beneficiary, 05 further security for ,Ile performonce of 'he obligations secured hereby. 011 prepaid rents and all monies which may hove been or may hereafter be deposited with said Truslor by OilY lessee of Ihe Pro- perty, to secure the payment of any rent or damages, and upon default in the performance of any of the provisions hereof. Trus10r agrees to deliyer such rents and deposils to Beneficiary. Delivery of written notice of Beneficiory's exercise of the rights granted herein, to any tenanr oc. cupying said premi.es sholl be sufficient 10 require said tenonllo pay said rent '0 .he Beneficiary until !urther notice. 8. CandlmnDilan. If tille 10 any port of the Property shall be 1aken In condemnation proceedings, bV right of eminent domain or similar action. 0( sholl be sold under Ihreol of condemnolion, 011 owords. damages and proceeds ore hereby ossigned and sholl be paid 10 Beneficiary who sholl apply sud. awards, damages and proceeds 10 .he sum secured by this Deed of Trusl, with Ihe excess, if any. paid to Truslor. If Truslor receiyes ony notice or olher informatiDn regarding such actions or proceedings. Trustor shall give prompt wril1en notice thereof to beneficiary. Beneficiary sholl be enlilled, a. its option. to commence. appear in and prosecule In ils own nome ony such action or proceedings and sholl be en- titled to make any compromise or settlement in connection with any such oct ion or proceedings. 9. Rlmldl.. Hot beluol... Beneliclory sholl bo .nlilled to enforce poymenl ond performance 01 any indebledness or obligolions secured herebr and to exercise all rights and powers under this Deed of Trust or under any olher ogreement execuled in conneclion herewi1h or any laws now or hereafler in force, notwithstanding some or 011 of the such indebtedness and obligations secured hereby may now or hereafter be other. wis. secured, whelher by mortgage, deed Df trust, pledge, lien, assignment or olherwise. Neither the acceplance of Ihis Deed of Trust nor its enforcement whelher by court action or pursuant 10 the power of sole or other powers herein contained, sholl prejudice or in onv manner offect Beneficiary', right 10 reotize upon or enforce any other security now or hereafter held by Beneficiary, it being agreed thai Beneficiary sholl be entitled 10 enforce this Deed of Trust om; 'any olher security now or hereafter held by Beneficiary In such order and monner os it may ill its ab- solul. discretion delermine. No remedy herein conferred upon or reserved 10 Oencficiury is in landed to bo exclusive of ony olher rmn{'dy herein or by law provided or permitted. but each sholl be cumulalive and sholl be in addiHon 10 every other remedy given hereunder or now or hereafter I.llnng a. law or in equity or by statu Ie. Every power or remedy provided hereunder this Deed of Trus1 10 Beneficiary or to which it may be olherwi..entilted, may be exercised, concurrently or independently, from time 10 lime and as olten 05 lTIav be deemed expedient Beneficiary and it may pursue inconsislont remedies. Nothing herein shall be construed as prohibiting Beneficiory fronl seeking D deficiency judgment against tho Truslor '0 lhl exlent .uch action is permi"ed by low. to. 1nnlf.r a' Propertrz Allumprlan. If 011 or any part of the properly or any interest therein is sold, Iransferred or conveyed by Trustor wlthout Beneficiary's prior written cansen', excluding (a) 1he creation of a lien or encumbrance subordinate 10 this Deed of Trust, (bJ the creo. lion of a purChaSI money security interest for household appliances, (c~ a transfer by devise, descent Dr by operation of low uponlhe dealh of 0 laint tenant or (d) .he grant of any leasehold inlerest of 1hree years or less nol conlaining an option 10 purchase. Beneficiary may, ot Benlntiary', option, declare 011 the sums secured by this Deed of Trust to be immediately due and payable. or couse 1he Trustee to file 0 nDlice of default. 8enIllciary sholl hove waived such oplion to accelerate if. prior to the sole. transfer or conveyance. Beneficiary and Ilu~ person 10 whom the properly Is !a be sold or lransferred reach agreement in writing thul Ihe credil of such persall is satisfactory to Bencriciory and Ihnl the in'ern' parable on the lurnS secured bV this Deed ofTrusl shan be at surh lote us Deneficiar'r shall requos1.