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<br />0 87-103276
<br />84 -- ()05368
<br />taxes ), flr ... .. ,..t. r.. , , r � .. .. ..r., r "t pr •,.,
<br />painting t of uuirs• nn,' d•Pni uJi' •enk -� inl• and
<br />nccountan, errs and expenses to the r.t,nt It r,•d in Ow routine
<br />operation of the Real F.sta to. • "Operating! expenses" .hull exchute
<br />nonensh items such as depreciation, cost recovery, amortization and the
<br />like as well as costs which under Standard and accepted accounting,
<br />principles consistently applied should be considered capital in nature.
<br />Federal and state income taxes shall not be taken into account for the
<br />purposes of this paragraph. The enumeration of the foregoing
<br />"operating expenses" is not intended to be all inclusive.
<br />20. No - Waiver by Beneficiary: No waiver by Beneficiary of any
<br />right undethis d u}"'1`rust shall be effective unless in writing.
<br />Waiver by Beneficiary of any right granted to Beneficiary under this
<br />Deed of Trust or of any provision of this Deed of Trust as to any
<br />transaction or occurrences shall not be deemed a waiver as to any future
<br />transaction or occurrences_ By accepting payment of any sum secured
<br />hereby after its due date, or by making any payment or performing any
<br />act on behalf of Trustor that Truster was obligated hereunder, but
<br />failed to make or perform, or by adding any payment so made by
<br />Beneficiary to the indebtedness secured herebv. Beneficiary does not
<br />waive its right to require prompt payment when due of all other sums so
<br />secured or to require prompt performance of all other acts required
<br />hereunder, or to declare a default for failure so to pay.
<br />21, Waiver of Stntate of Limitations: Time is of the essence in all
<br />Truster'. nhlig-nimns he—under; and to the estumt permittert by low.
<br />Truster w s all present or future statutes of limitritionc with respect
<br />to env debt. drmnnd or ohlirntion --re(! herebv it, env action or
<br />proceeding for th,- pur,o,e n. rnforruia; thi•• Trost or rna- right or
<br />remedies hereunder_
<br />22. Ins „r_rtinn nt•, Fiannrl,d P,ecurds: rteneficiary at nnv time
<br />—__ .
<br />Baring th•• •� nt ulesnti.�n n,.!– thi��ru st may enter and inspect such
<br />property at nor r =onnh!,• time. Trustor shall deliver to Beneficiarv,
<br />as soon ns avnitebte• nod, in any event, within ninety (401 days after
<br />Truster', r,s I v r. n rnmpleted certified operating statenent with
<br />respect to such property, covering at least gross income and its
<br />oarr —. itemized operating expenses, depreciation charges, net income
<br />before and after taxes and such other detail as Beneficiary may request.
<br />Failure to furnish nnv such statement, or the occurrence of any other
<br />Event of Default, as defined in the Promissory Note secured hereby,
<br />shnll give Reneficinry the right to audit the books and records of
<br />Truster or Trusters permitted successors or assigns. Truster further
<br />agrees, when requested by Beneficiary, to promptly deliver in writing
<br />such further additional information as required by Beneficiary relating to
<br />any such financial statements.
<br />23. Acceleration Clause: Should Truster be in default under this
<br />Deed of Trust. or should Trustor, or any successor in interest of
<br />Trustor, voluntarily or involuntarily sell, exchange, convey, transfer,
<br />contract to sell, lease with option to purchase, change the character or
<br />use of, or further encumber such property, or any part thereof. or any
<br />interest therein: or if any of said parties shall be divested of title to
<br />such property, or any part thereof, or any interest therein, either
<br />voluntarily. or involuntarily or if title to such property be subjected to
<br />any lien or charge, voluntarily or involuntarily, contractual or
<br />statutory, without the written consent of'Beneficiary being first had and
<br />obtained, then Beneficiary shall have the right, at its option, to declare
<br />all sums secured hereby forthwith due and payable; and this same right
<br />of acceleration shall be available to Beneficiary if the undersigned is a
<br />partnership and any interest of a general partner terminates, is assigned
<br />or transferred, or is diminished: or if the undersigned is a corporation
<br />and any of the corporate stock is transferred, sold or assigned; or if
<br />the undersigned is a trustee of a trust and there is a change of any of
<br />the beneficial interest of the trust.
<br />24, Remedies: No remedy herein provided shall be exclusive of
<br />any other remedy herein or now, or hereafter existing by low, but shat.'
<br />be cumulative. Ever power or remedv hereby given to Trustee or
<br />neneficiary, or to which either of them may he otherwise entitled, may
<br />be exercised from time to time and as often as may he deemed expedient
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