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87- 102271
<br />B. Additional Lions and Protection oliffartaficiary's Sicurity. Truator shall make all payments of interest and principal and payments of any polar
<br />charges, fen and expanses contracted to be paid to any existing lien holders or prior beneficiaries under any prior dead of trust or mortgage before
<br />the date they are delinquent and promptly pay and discharge any and all other liana, claims or charges which may jeopardize the security granted
<br />heroin. If Trustor fails to make any such payment or fails to perform any of the covenants and agreements contained in this Deed of Trust, or in any
<br />prior mortgage or dead of trust, or if any action or proceeding is commenced which materially affect* Beneficiary's interest in the Property, including,
<br />but not limited to, eminent domain proceedings, or proceedings involving a decadent, or it Trustor fails to pay Trustor's debts generally as they
<br />become due, than Beneficiary, at Beneficiary's option and without notice to or demand upon Trustor and without releasing Trustor from any
<br />obligation hereunder, may make such appearances, disburse such sums and take such action as is necessary to protect Beneficiary's interest,
<br />including, but not limited to, disbursement of reasonable attorney's fen, payment, purchase, contest or compromise of any encumbrance, charge or
<br />lion, and entry upon the Property to make repairs. In the event that Truster shall fail to procure insurance or to pay taxes, assessments, or any other
<br />charges orto make any payments to any existing prior lion holders or beneficiaries, Beneficiary may procure such insurance and make such payment.
<br />Any amounts disbursed by Beneficiary pursuant to this Paragraph A.B shall become additional indebtedness of Truster secured by this Dead of Trust.
<br />Such amounts shall be payable upon notice from Beneficiary to Trustor requesting payment thereof, and shall bear interest from the date of
<br />disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest at such rate would be contrary
<br />to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applicable law. Nothing contained in this
<br />Paragraph A.fl shall require Beneficiary to incur any expense or take any action hereunder.
<br />B. IT IS MUTUALLY AGREED THAT:
<br />1. Assignment of Rents. Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to collect the rents,
<br />issues and profits of the Property and of any personal property located thereon with orwithout taking possession of the property affected hereby, and
<br />Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary. Beneficiary, however, hereby consents to the
<br />Trusters collection and retention of such rents, issues and profits as they accrue and become payable so long as Truster is not, at such time, in default
<br />with respect to payment of any indebtedness secured hereby, or in the performance of any agreement hereunder. Upon any such default, Beneficiary
<br />may at any time, either in person, by agent, or by a receiver to be appointed by a court, without notice and without regard to the adequacy of any
<br />security for the indebtedness hereby secured, (a) enter upon and take possession of the Property or any part thereof, and in its own name sue for or
<br />otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and
<br />collection, including reasonable attorneys fees. upon any indebtedness secured hereby, and in such order as Beneficiary may determine; (b) perform
<br />such acts of repair or protection as may be necessary or proper to conserve the value of the Property; (c) lease the same or any part thereof for such
<br />rental, term, and upon such conditions as Its judgment may dictate or terminate, or adjust the terms and conditions of existing leases. Unless Trustor
<br />and Beneficiary thereof agree otherwise in writing, any application of rents, Issues or profits to any indebtedness secured hereby shall not extend or
<br />postpone the due date of the installment payments as provided In said promissory note or change the amount of such installments. The entering upon
<br />and taking possession of the Property, the collection of such rents, Issues and profits, and the application thereof as aforesaid, shall not waive or cure
<br />any default or notice of default hereunder or Invalidate any act done pursuant to such notice. Truster also assigns to Beneficiary, as further security for
<br />the performance of the obligations secured hereby, all prepaid rents and ail monies which may have been or may hereafter be deposited with said
<br />Trustor by any lessee of the Property. to secure the payment of any rent or damages. or upon default in the performance of any of the provisions
<br />hereof, Truster agrees to deliver such rents and deposits to Beneficiary. Delivery of written notice of Beneficiary's exercise of the rights granted
<br />herein, to any tenant occupying said premises shall be sufficient to require said tenant to pay rent to the Beneficiary until further notice.
<br />2. Condemnation. If title to any part of the Property shall be taken in condemnation proceedings, by right of eminent domain or similar action, or
<br />shall be sold under threat of condemnation, all awards. damages and proceeds are hereby assigned and shall be paid to Beneficiary who shall apply
<br />such awards, damages and proceeds to the sum secured by this Deed of Trust. with the excess, if any, paid to Trustor. If Trustor receives any notice or
<br />other Information regarding such actions or proceedings, Truster shall give prompt written notice thereof to Beneficiary. Beneficiary shall be entitled,
<br />at its option, to commence, appear in and prosecute in Its own name any such action or proceedings and shall be entitled to make any compromise or
<br />settlement in connection with any such action or proceedings.
<br />3. Future Advances. Upon request of Truster, Beneficiary at Beneficiary's option, prior to reconveyance of the Property to Trustor, may make
<br />future advances to Truster. Such future advances, with Interest thereon, shall be secured by this Trust Deed when evidenced by promissory notes
<br />stating that said notes are secured hereby; provided that at no time shall the secured principal, future advances. not including sums advanced to
<br />protect the security, exceed Two Hundred percent (200%) of the original principal amounts secured hereby.
<br />4. Remedies Not Exclusive. Trustee and Beneficiary, and each of them, shall be entitled to enforce payment and performance of any
<br />indebtedness or obligations secured hereby and to exercise all rights and powers under this Deed of Trust or under any other agreement executed in
<br />connection herewith or any laws now or hereafter in force, notwithstanding some or all of the such indebtedness and obligations secured hereby may
<br />now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge. lien. assignment or otherwise. Neither the acceptance of this
<br />Deed of Trust nor its enforcement whether by court action or pursuant to the power of sale or other powers herein contained, shall prejudice or in any
<br />manner affect Trustee's or Beneficiary's right to realize upon or enforce any other security now or hereafter held by Trustee or Beneficiary, it being
<br />agreed that Trustee and Beneficiary, and each of them, shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by
<br />Beneficiary or Trustee in such order and manner as they or either of them may in their absolute discretion determine. No remedy herein conferred
<br />upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided or permitted, but each shall be
<br />cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. Every power or
<br />remedy provided hereunder this Deed of Trust to Trustee or Beneficiary or to which either of them may be otherwise entitled, may be exercised,
<br />concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Beneficiary and either of them may pursue
<br />Inconsistent remedies. Nothing herein shall be construed as prohibiting Beneficiary from seeking a deficiency judgment against the Trustor to the
<br />extent such action is permitted by law.
<br />5. Transferol the Property; Assumption. If all or any part of the property or Interest therein Is sold, transferred or otherwise conveyed by Trustor
<br />without Beneficiary s prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Deed of Trust, (b) the creation of a
<br />purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant or
<br />(d) the grant of any leasehold interest of three years or less not containing an option to purchase, such action is a breach of this agreement, and
<br />Beneficiary may, at Beneficiary's option, declare all the sums secured by this Deed of Trust to be Immediately due and payable, or cause the trustee to
<br />fife a notice of default. Beneficiary shall have waived such option to accelerate if, prior to the sale. transfer or conveyance, Beneficiary and the person
<br />to whom the property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Beneficiary and that the
<br />interest payable on the sums secured by this Deed of Trust shall be at such rate as Beneficiary shall request.
<br />6. Acceleration upon DefaulC Remedies- Sale. The failure by the Trustor to make any payment or to perform any of the terms and conditions of
<br />the Note, or any renewals, modifications or extensions thereof, or the payment of any other indebtedness secured hereby or in the performance of
<br />any of the covenants or agreements hereunder shall be a breach of this agreement and the Beneficiary may declare a default and may declare all sums
<br />secured hereby immedistelydue and payable and the same shall thereupon become due and payable without presentment, demand. protest or notice
<br />of any kind. Thereafter. Beneficiary may deliver to Trustee a written declaration of default and demand lot sale. Trustor agrees and hereby grants that
<br />the Trustee shall have the power of sale of the Property and if Beneficiary decides the Property Is to be sold it shall deposit with Trustee this Deed of
<br />Trust and the Note or notes and any other documents evidencing expenditures secured hereby, and shall deliver to Trustee a written notice of default
<br />and election to cause the Property to be sold, and Trustee, in turn, shall prepare a similar notice in the form required by law, which shall be duly filed
<br />for record by Trustee.
<br />(s) After the lapse of such time as maybe required by law following the recordation of Notice of Default. and Notice of Default and Notice of
<br />Sale having been given as required bylaw, Trustee, without demand on Truster, shall sell the Property on one or more parcels and in such
<br />order as Trustor may determine on the data and the time and place designated In said Notice tit Sale, at public auction to the highest
<br />bidder, the purchase price payable in case in lawful money of the United States at the time of sale. The person conducting the sale may,
<br />for any cause he or she deems expedient, postpone the safe front time to time until it shall be completed and, tit every such case. notice of
<br />postponement shall be given by public declaration thereof by such person at the time and place test appointed for the sale; provider, if
<br />the sale is postponed for longer than one (1 t day beyond the day designated m the Notice of Sale, notice thereof shall be groan in the
<br />same manner as the original Notice of Sale Trustee shall exerule and deliver to the pu,rhar.er its Deed conveying the Property so sold.
<br />Gut without any convenanl or warranty, express, or imphed. The recitals u, the Doled nI any matters or facts shall be conclusive proof M
<br />the InAhlutnasa thereof Any parson. including without limitation Bentit nary I,r TI „sirs may purr hose at the sale
<br />Iii) When 1 rustee sane pursuant to the powers nerprn. Tnistea shall appiv the p.... od%.If the sole ti, payment of the cpsta and expenses of
<br />a.arcising ills power, cif sale and of the sale, including, without I,r. »tenon the payment „I hustles ti Fee, tit, unncf which T,—lee s F eas
<br />shat; nol on the agggragate axcead the f!>nnNnng amu,.inrs hAaed up„n the Amr„int a! ,.0 n,1 hrrehy and mitt.. fining unpahl 5 per. , nti„n r,
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