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87— 101290 PFLS ag 3 of (9-851
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<br />consent, waiver or approval thereunder or take any other action in connection therewith, or with a lessee thereunder, -
<br />which would have the effect of impairing the value of lessor's interest thereunder. cn the Property subject theratO. of of
<br />impairing the position or interest ofthe Trustee or Beneficiary-, or (f) sell. assign, pledge, morgageor otherwise dispose
<br />of, or encumber, its interest in any such lease or any rents, issues or profits issuing or arising thereunder. _
<br />12. Condemnatton. If title to any part of the Property shall be taken in condemnation proceedings, by right of eminent -
<br />domain or similar action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby
<br />assigned and shall be paid to Beneficiary who shall apply such awards. damagte and proceeds to the sums secured by
<br />the Trust Creed, with the excess, it any, paid to the Trustor. Trustor will promptly, and with due diligence, repair, alter and
<br />restorethe remaining part of th,, Property to its former condition substantially to the exteritthat the Sams may be feasible - - and so as to constitute a complete and usable unit. - - -
<br />13. FuhueAdeanees. Upon request of Truator, Beneficiary, at Beneficiary's option, priorto reconveyance of the Propertyto - -.- the Truator, may make future advances to the Trustor. Such future advances, with interest thereon, shahf be secured by
<br />this Trust Deed when evidenced by promissory notes stating that said rotes are secured hereby; provided that at no time - -
<br />shall the secured principal. future advances, not including sums advanced to prefect the security, exceed one hundred
<br />percent (10(?%) of the original principal amounts secured hereby. -
<br />tat. RenmdNOCtshutathre. AllremediesprovidedinthisTrustDeedaredistinctandcumulativetoanyother rightorremedy - -
<br />under this Trust Deed or afforded by law or equity, and may be exercised concurrently, independently or successively-
<br />1b. Aete(emIllan; Aemedkes; Sole. Upon default by Trustor in the payment of any indebtedness secured hereby or in the
<br />performance of any agreement hereunder, Beneficiary may declare all sums secured hereby immediately due and - _ -
<br />payable by delivery to Trustee of written declaration of default. The Tn>3tae shalt have the power of sale of the Property
<br />and if Beneficiary desires the Property to be sold, it shall deposit with Trustee this Trust Deed and elf promissory notes
<br />and documents evidencing expenditures secured hereby. and stew deliver to Trustee a written notice of default and
<br />election to cause the Property to be sold, and the Trustee ih turn small prepare a similar notice in the torn required by law.
<br />which shall be duty filed for record by Trustee.
<br />(a) After" lapse of such time sal may ba required bylaw following"recordation of said notice of default. and notice of
<br />default and notice of sate having been given as required by law, Trustee. without demand on Truator, shall $ell the
<br />Property on the date and at the time and place designated in said rte Of sale. at public auction to the highest bidder,
<br />the purchase price payable in lawful money of the United Suites at the time of sate. The person conducting the sale
<br />may, for any cause he deems expedient, postpone the sale tram tiria to time until it shall be completed and, in every
<br />such case. notice of pus4xMisment shall be given by public dedara0on thereof by such person at the time and place
<br />last appointee for the sale: provided. if the sale is postponed for dngw Van one (1) day beyond the day 11-- - I in
<br />the notice of safe. notice thereot shall be given in the same manner as the original notice of sale, Trustee shelf exeatia
<br />and deliver to the purchaser this Deed conveying the Property sold, but wiclwui any Covenant or warranty, express, or
<br />implied. The recitals in the Deed of arty matters or facts shall be conclusive proof of the truthful thereof. Any
<br />person, including Beneficiary, may purchase at the sale.
<br />(b) When Trustee sells pursuant to the powers memem, the Tnstas shalt first apply the proceeds of the sale to payment of
<br />the coats and expenses Of exerctsing the Power of sa+e and of the Sala, including the payniertt of the Trtistee'sfeee and
<br />expenses actually incurred. whicFh shall imcfede all : �stow incurred by the Trustee in there dition W his duties
<br />and the Trustee shall be entitled to hue such attomies as he nay sale fit wwkx itig any firm with which Trustee may be
<br />associated, and than to the items in subparagraph (c) in the (xdo there stated.
<br />(c) After paying the items specified in subparagraph (b) ,t the sate is by Truates, or the .wopar court and other costs of
<br />loreclosure acid sale if the sale is pursuant to ludicial foractosurs. die proceeds of sae shall be applied in the order
<br />stated to the payment of:
<br />(i) Cost of any evidence of title procured in connection with such sate and of any revenue stamps:
<br />r. iiy All sums then secured hereby:
<br />iii) The remainder, if any, to the person legally entitled thereto
<br />1fi. C .• s dd G!sirons of Trtuetee. {al The duties arrd obiigattoms of Trustee snail os determined sotety by the express
<br />provisions of th is Trust Deed and Trustee shalt not be liable except for the performance of such duties and obligations as
<br />are specifically set forth retain, and no implied covenants or obligations shaft be imposed upon Trustee: (b) No
<br />provisions of this Trust Deed shall require Trustee to expand or nsx his own funds, or otherwise incur any financial
<br />ou�xgatfon Pn—,,a pei ionnanceofay of its duiras me .de.orin --teexercexot anyot ier_haor powers. if its±all leave
<br />grounds for believing that the repayment of such funds or adequate Indemnify against such nsk or liability ;s not
<br />reasonably assured to t: (c) Trustee may consult with counsel ofhrs own choosing and the advice of such counsel snail
<br />be full and complete authorization and protection in the respect of aryl action taken or suffered by it hereunder in good
<br />farth and reliance thereon: (d) Trustee shall not De liable for any action taken by him in good faith and reasonably
<br />believed by him to be authorized or within the discretion or rights of powers conferred upon it by his Trust Deed-
<br />17. Addm*nah Sacwttty Instruments. Trustor, at its expense, will execute and deliver to me Trustee, promptly upon demand,
<br />such secunty instruments as may oe required by Trustee, in form artd substance satisfactory to Trustee, coveting a.y of
<br />Me Property conveyed by this Trust Deed. which security instruments shelf be additional security for Trustor's faithful
<br />performance of all of the terms, covenants and conditions of-his Trust Dead, the promissory motes secured hereby, and
<br />any other security instruments executed in connection with this transaction - Such instruments shall oe recorded or filed,
<br />Lino rerecorded and refiled. at Trustor's expense. ..,..�.__
<br />1E. Dew an Sale. If the Truator shall sell, convey, transfer, or dispose of or further encumber the real Property described in
<br />this Trust Deed securing the debt evidenced by the note, or any part of such Property, or any interest therein, or agree to
<br />do so without the written consent of the Beneficiary being first obtained. the Beneficiary shall have the right, at its option,
<br />to declare the entire balance of the unpaid principal and accrued interest to be immediately due and payable and require
<br />prompt psyment by Trustor. Failure to exercise such option shall not constitute a waiver of the right to exercise it in the
<br />event of a subsequent default.
<br />19. Mlecellianeow.
<br />ial in the event any one or more of :he provisions contained in this Trust Deed, or the promissory note or any other
<br />security instrument given in connection with this transaction shall for any reason be held to be invalid, illegal or
<br />�nanforessbie in any r:-,�c:, such invalldit-, illegality, or unenforceabtlity, she", at the optfOh- Bnal'timary. not
<br />itfec! ea; vini; provision of this Trus: ! cad, but this Trust Deed smart be construed as d such invalid. illegal, or -
<br />.,nenforceebis provision mad never been contained herein or therein.
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