|
<br />88- 106638
<br />
<br />e. Additional u.n. and Pralectlon olllnlllcl'rYl Becurt.,. Trullor shill make all payment. a. In'erulllnd prlnclpll.nel payment. of Iny
<br />other charg.., IHI Ind upln... contractld to be plld tD Iny Ixlstlng lIunholdonl or prior bon_f1ctlrlea undor In)' prior dead 01 trulII Dr mor-
<br />tgag. balOf. thl dala IhlY .r. delinquent Ind prO)mptly PlY Ind discharge Iny end an alhar lIaol. clllma or charges which may Jeopardize the
<br />,.eurll)' Grlntlld hlfeln. II Trullcr 1.111 to mike Iny ouch payment or lelll to perform any or the conn,olll Ind Igreemenlll contained In Ihla
<br />teed 01 TruI', Of In Iny prior mortgage or deed 01 trUI', or If any Icllon or proce.dlng Is commenced which materially IUectl aenellcllfY'o In.
<br />'ar..tln Ihe Property. Including, but no.llmltod to, eminent domain proceedlng~, or proceeding. Involving a decedent, or It Truslar falll to pay
<br />Trultor'. debtl generaUy aa they btcome due, then Beneficiary, at Benellclary'. opllon and wllhaut notice to or demar:d upon Trul!llor and
<br />without nl...lng Truatnr Irom any obllg.tlon hereunder, may make ~uch appearancBs, dlabur.1 such aums. and lake such Icllan .a la
<br />necaa.ary to protect Beneflcllry's Inter.sl, Including, bul nolllmlted la, disbursement 01 r.al!lonllbl. IlIorney's fees, payment, purchase. con.
<br />I.el or comproml.1 01 any encumbrance, charge or lien, and entry upon the Ploperty to make rapalra. In the event that Trustor .hall lall to
<br />procure Inlurance or to :lay taxes, aaseslments, or any other charges or to make any payments to existing prior lien holders or beneficiaries.
<br />BeneficIary mly procure such Insurance and make such payment. Any amounts dlsburaed by Beneficiary pursuant to thle Paragraph B ehall
<br />become addlUonallndeblednlls 0' Trustor secured by this Deed of Trust. Such amount. Ihan be payable upon noUce 'rom Bensflclary ~o
<br />Trulllor requ..Ung payment thereo', and Ihall bear Interelt tram the date at disbursement at the rIte peyable from time IQ time on outatandlng
<br />principii undsr the Natlt unlele payment of Interest al such rate would be conlrary to applicable Ilw,ln which event luch amounleshall bear In.
<br />ter.atat the highest rate permissible under applicable law. NothIng contained In this Paragraph e eh.1I require Banellclary to Incur any expense
<br />ortlkeany action hereunder.
<br />7. _allgnm.nt al Rlntl. Benellclary shIn have the righi, power and authority during the continuance 01 thll Deed 0' Trusl to colleclthe renta,
<br />Iseuel and proma of tha Propeny and of any peraonal property located thereon with or without tl.klng poueselon of Ihe propeny .lIeeled
<br />hereby, and Truatorhereby ablolutely and uncondltlonally aaslgne allauch rentl,llsuel and proflls to Benellclary. Beneficiary, however, hereby
<br />conllantalo the Trultor's collection and retenllon of such rentl, Isaues and prollts as they Iccrue and become plyable ao long ae Trustor la not,
<br />al such time, In detaull with relpec110 payment a. any IndabtBdnese8ecured hereby, or In the performanca 01 any agreement hereunder. Upon
<br />any such delaull, Benellclary mlY at any time, either In person, by agent, or by a receiver 10 be appointed by a court, without notice and wllhout
<br />regard to lbe adequacy of any security lor the Indebtedness hereby secured, (., enter upon and take posselslan o' the Property or any part
<br />thereaf, and In III own name eue for or otherwise collecl such renls, Issues and protlts, Including those palt due and unpaid, and apply the same,
<br />lesl coats and expenaell of operation and collection, Including reasonable attorneys feel, upon Iny Indebtednesseecured hereby, and In such
<br />order ae- BeneUclary may determlnej (b) perform such Icte 0' rep.lr or protecllon es may be nl!lcesaary or proper to conserve Ihe value of the
<br />Property, Ic) laaae Ihe same or any part thereof 'or l!Iuch renlal, term, and upon lIuch conditions aa Its Judgment may dictate or lermlnate Dr ad-
<br />Just thetsrmB and condItions 01 any existing leale or 188sel. Unless Trustor and Beneficiary agree olherwlae In writing, any application of rents,
<br />lalues or profltl to any Indeblednl!lu secured hereby shall not extend or postpone the due date of th.. InstIllment payments as provided In said
<br />promluory note or change the amount of such Installments. The entering upon Bnd taking poa.esslon of the Property, the collection at such
<br />rents,lssuel and protlls, and the application there9' al .foresald,ehall not waive or cure any delault or notice of default hereunder, or InvaUdate
<br />an)' acl done purlJusnt to auch notice. Trustor all!lo ..slgne to BenefiCiary. a. 'urther eecurlly for the performance of the obligations secured
<br />hereby, aU prepaid rents and all manias which may have been or may herealter be deposited wllh said Truator by any lessee 0' the Property, to
<br />Hcure the payment at any renl or dam.ges. and upon dllrault In the performance of any ot the provisions hereof, Trustor agrees to deliver such
<br />renta Ind deposits to BeneUclary. Delivery of wrlUen nollce of Beneficiary's elCerclse of the rights granted herein, to any tenant occupying said
<br />premlael!llhall be eulflclenlto requlrsl!lald tenant to pay eald rent 10 Itle Bensflclary until further noUce.
<br />8. CondemnltlGn.lf title 10 any pm of the Property shIn be taken In condemnation proceedIngs, by rlghl 01 eminent domain or similar action,
<br />or shaU bel aold under threat 01 condomnallon, all awarda, damauolI and proceeds are hereby assigned and shan be paid to BeneUclary who shall
<br />apply such awarda, dam.ueland proceeds to the aum eecured by Ihls Deed o' Trust, with the excBls,1f any, paid 10 Trustor. If Trusfor receives
<br />any notice or othcr Inform.llan regarding such Ictlonl or proceedlnge, Trullor I!Ihan give prompt wrlUen notice thereof to Benanclary.
<br />Beneficiary Ihall ba enlllled, at lie option, to commence, appear In and proeecuteln lis own nlme Iny such Ictlon or proceedings and Ihlll be
<br />entitled to make Inycompromlle or l!Iettlement In connection with any euch .ctlon or prOCeedings.
<br />Q. R....... NDllEsclualn. Trustee Ind Beneflcllry, and .Ich 01 them, ahan be entitled to enforce payment and performance of any Indebted.
<br />ness or obligations secured hereby Ind to exerclae all rIghts and powere under this Deed 01 Trust or under Iny other agreement executed In con.
<br />nectlon herewith Dr any law. now or herealter In force, not.wllh.tandlng 80me or III of the such Indebledne.. and obllgallons .ecured hereby
<br />mlY now or he...fter be otherwl.. lecured, whether by mongage, doed of trul" pledge, nen, assignment or otherwll.. Neither lh. acceptance
<br />,jf Ihl. Deed 0' Trust nor lie enforcement whelher by court acllon or pUnluanllo the power 0' lale or othlr powera herein conlalned, ahan
<br />prejudice or In any manner affect Trustee's or Benellclary's rlghl to realize upon or enforce any other security now or herelter held by Trustee or
<br />Beneflclary,1I being agrled thai Trustee and Beneficiary, and each of them, Ihall be entitled to enforce thlll Deed 01 Trult and any olher IIBcurlty
<br />now or hereafler held by Beneficiary orTruateeln euch order and manner IS they or either 0' them may In their abaolute discretion determine. No
<br />remedy hlr.ln con'erred upon or reaerved to Truslee or 8enllUclary Illnlended to be eJlcluelve 01 Iny other remedy herein Dr by la. provided or
<br />=:~t~~';;:~::=. ~~~~ ~~:u~~~:~:; ::::~:d~ I~:~I~~~ ~~::~~t~~~:~te:: 1rl~:~e:~~B~~:;I~~:~~~~oh=~I~~e:I~~~:~~'ha~~a;;:: ~~
<br />
<br />otherwise .ntllled, may be .Jlerc:lsed, concurrently or independently, from time 10 time and as otten as may be deemed expedient by Truslee or
<br />Beneflclaty and either 01 them may pursue Inconslatent remedleL Nothing herein shall be construed as prohibiting Benellclary tram !!Ieeklng a
<br />dellclency Judgment against the Trustor to Ihe extentluch Ictlon Is permitted by law.
<br />
<br />10. Trana" of lhII p,gp.rty; Auumptlon. If all or any part of the property or any Interelt therein Is l!Iold, translerred or conveyed by Trustor
<br />without Banallclary'e prior wrlUen conlent, excluding (at the cre.llon of a lien of encumbrance subordinate 10 thl. Deed of Trust, (b) the creation
<br />a. a purchase money l8Curtty Inte!'HI for houl8hold appliance., (c). tranlfer by devise, descent or by operallon of law upon Ihe death of a joint
<br />tenant or (d) the grant ot any leasehold Interest of threa yearl or le.1 not contllnlng an option 10 purchase, Beneficiary m.y, at Beneficiary's op-
<br />tion, declare In the eums secured by this Deed 01 Trust to be Immediately due arid pavable. or cause the Trustee to file a notice 01 defaull.
<br />Beneficiary shall hive waived such option to Iccele,.tell, prior 10 the eale. Trenater or conveyance, Beneficiary and the peraon to whom the
<br />property II to be eold or transferred reach agreement In wrlllng thai Ihe credll at such person Is seUsfaclory to Beneficiary and lhat the
<br />Internt payable on the Bums secured by this Deed of Trust sh.1I be at such rate la Beneficiary shall request.
<br />
<br />11. Accedwallan upon Delaull; RamedIH; SaIL Upon default by Trustor In the payment of or performance of the terms and conditions o' the
<br />Nota, or any r.ne.als. modlflcallona or _tenalons thereo', or the payment 01 any olher Indebledness secured hereby or in the performance a'
<br />any at the covenanta or Igreementl h.reunder, Benellcllry may declare alleuma secured hereby Immediately due and plyable and the same
<br />I!Ihanthlrlupon become due Ind payable withouI pre..ntment, demand, protelt or noUce of any kind. Thereafter, Benellclary mly deliver to
<br />Trust.. a wrlUen declaration of delault and demand lor .ale. Trustee shan have the power of sale of the Propeny end II Beneficiary decides Ihe
<br />Propertr II to be sold It Ihlll depollt with TrultH this Deed of Trust and the Note or notes and any other documente evidencing expenditures
<br />MCu~ hareby, and ,han deliver to Trull... wrltt.n notice of def.ulland election to cause the Property to be sold. .nd Trustee, In turn, shall
<br />prepare a IlmUar nollce In the lorm required by .a. which shan be duly flied lor record by Trustee.
<br />
<br />(a) Ahar the lap.. of auch Ume.. may be required by law following Ute recordation 01 Nollce 01 Default. and Notice of Default end NoUcl!l of
<br />Sa" hhlng beln glyen IS required by la., Trullee. .lthout demand on Trultor,shsll selllhe Property In one Of mal. parcelS and In such order
<br />.. Trullor mlY determine on the dat. .nd at the Ume and place designated In Slid Nollc. ot Sale, at public auction to Ihe highest bidder, the
<br />purc:ha.. price payable In cuh In Ilwful money 01 the United Statel althe time of sale. The person conducllng the sele may. for any cause he or
<br />IhI deeml Ixpedllllll, poatpon.the ..I. from tlmlto time unllllt shall be completed and. In every such c.... notice at pOltponemenl shall be
<br />given by public dlclarallon theJWJI by luch ptIraon.t the time and place last appointed lor the aals; provided. If th. slle II pOllponed tor longer
<br />than ona('~day beyond th.dlY dnlgnalMt In thl Notice ot Sale, nollcethereot shill be given In the same manner I. the original Notice at Sale
<br />Trult.. ahaU Ir.acutlll and dell".,. to the purchl..r Ita Deed conveying the Property 10 laid, bul wlthoul any covenant or warranty. exprell5, or
<br />tmpUect. The rKltal1 In the 0eacI of any maU.rl or 'acl1 ahln be conclullve proal at the trulhlulnen theloof_ -'nV perlon. Including without
<br />limitation BeneUclary 01 Trult.., may pUfChl.. .tlhe s.la.
<br />
<br />tb) When Trult.. ..UI purluantto the powera h.aln, Trull.. ahan apply lhe proceeds of the ..Ie 10 payment 01 the cosls and expenses 01
<br />I.~clllng thtl po..r 01 1.11 and of the ..la.lncludlng, wllhoulllmlt.Uon. Ih. pl~ment 01 Truslee'l Feeslncururd, whiCh Trustee's Fees shall nol
<br />In 1M aggregal. ..ceed IhI rollo.lng amount. baled upon lhe amount I~ured hel.by and remaining unpaid. !I' percenlum on ttle balance
<br />1h.rltO.; and then to 1h1Uama Ht forth In lubparagflph tc) heleDlln the ordef th.reln alaled
<br />
|