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87— lV;3tsa7
<br />N. i Llere and Proteetlen of Berefkilery's Security. Trustor shall make all payments of interest and principal and payments of any
<br />otter charges, tees and expenses contracted to be paid to any existing Ilenholders or prior beneficiaries under any prior dead of trust or mor•
<br />tgage before the date they are delinquent and promptly pay and discharge any and all other liens, claims or charges which may jeopardize the
<br />secufity granted herein. If Trustor falls to make any such payment or falls to perform any of the covenants and agreements contained In this
<br />Deed of Trust, or In any prior mortgage or deed of trust, or It any action or proceeding Is commenced which materially affects beneficiary's In-
<br />twat in the Property, Including, but not limited to, eminent domain proceedings, or proceedings Involving a decedent, or If Trustor falls to pay
<br />Trustee's debts gernerally as they become due, than Beneficiary, at Beneficiary's option and without notice to or demand upon Trustof and
<br />without releasing Trustor from any obligation hereunder, may make such appearances, disburse such sums, and take such action as Is
<br />necessary to protect Beneficiary's Interest, Including, but not limited to, disbursoment of reasonable attorney's fees, payment, purchase, con•
<br />tat or compromise of any encumbrance, charge or Ilan, and entry upon the Property to make repairs. In the event that Trustor shall fall to
<br />procure insurance or to pay taxes, assessments, or any other charges or to make any payments to existing prior lien holders or beneficiaries.
<br />Beneficiary may procure such Insurance and make such payment. Any amounts disbursed by Beneficiary pursuant to this Paragraph b shall
<br />become additional Indebtedness of Trustor secured by this Dead of Trust. Such amounts shall be payable upon noticb from Beneficlary to
<br />Trustor requesting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time to time on outstanding
<br />principal under tie Nate unless payment of Interest at such rate would be contrary to applicable law, In which event such amounts shall bear In-
<br />tercet at the highest rate permissible under applicable law. Nothing contained In this Paragraph tf shall require Beneficiary to Incur any expense
<br />or take any action hereunder.
<br />7. Aeelilimranf of Rents. Beneficiary shall hava the right, power and authority during the continuance of this Dad of Trust to collect the rents,
<br />Issues and profits of the Property and of any personal property located thereon with or without taking possession of the property affected
<br />hereby, and Trustor hereby absolutely and unvondltionally assigns all such rents, Issues and profits to Beneficiary. Beneficiary, however, hereby
<br />consents to the Trustor's collection and retention of such rents, Issues and profits as they accrue and become payable so long as Trustor is not,
<br />at such time, In default with respect to payment of any Indebtedness secured hereby, or in the performance of any agreement hereunder. Upon
<br />any such default, Beneficiary may at any time, elther In person, by agent, or by a receiver to be appointed by a court, without notice and without
<br />regard to the adequacy of any security for the Indebtedness hereby secured, (a) enter upon and take possession of the Property or any part
<br />thereof, and in its own name sue for or otherwise collect such rents, Issues and profits, Including those past due and unpaid, and apply the same,
<br />less costs and expenses of operation and collection, Including reasonable attorneys fees, upon any indebtedness secured hereby, and in such
<br />order as Beneficiary may determine; (b) perform such acts of repair or protection as may be necessary or proper to conserve the value of the
<br />Property; (c) lease the same or any part thereof for such rental, term, and upon such conditions as Its judgment may dlctato or terminate or ad-
<br />just the terms and conditions of any existing 1"" or leases. Unless Trustor and Beneficiary agree otherwise In writing, any application of rents,
<br />Issues or profits to any indebtedness secured hereby shall not extend or postpone the due date of the Installment payments as provided In said
<br />promissory note or change the amount of such Installments. The entering upon and taking possession of the Property, the collection of such
<br />rents, Issues and profits, and the application thereof as aforesaid, shall not waive or cure any default or notice of default hereunder, or invalidate
<br />any act done pursuant to such notice. Trustor also assigns to Beneficiary, as further security for the performance of the obligations secured
<br />hereby, all prepaid rents and all monies which may have been or may hereafter be deposited with said Trustor by any lessee of the Property, to
<br />secure the payment of any rent or damages, and upon default In the performance of any of the provisions hereof, Trustor agrees to deliver such
<br />rents and deposits to Beneficiary. Daily" of written notice of Beneficiary's exercise of the rights granted herein, to any tenant occupying said
<br />premises shall be sufficient to require said tenant to pay said rent to the Beneficiary until further notice.
<br />®. CondenMatlon. If title to any part of the Property shall be taken in condemnation proceedings, by right of eminent domain or similar action,
<br />or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to Beneficiary who shall
<br />apply such awards, darrages and proceeds to the sum secured by this Deed of Trust, with the excess, if any, paid to Trustor. If Trustor receives
<br />any notice or other Information regarding such actions or proceedings, Trustor shall give prompt written notice thereof to Beneficiary.
<br />Beneficiary shall be entitled, at Its option, to commence, appear In and prosecute In Its own name any such action or proceedings and shall be
<br />entitled to make any compromise or settlement in connection with any such action or proceedings. ~:
<br />9. Mnndlea trot WAGk elvo. Trustee and Beneficiary, and each of them, shall be entitled to enforce payment and performance of any indebted -
<br />ness or obligations secured hereby and to exercise all rights and powers under this Deed of Trust or under any other agreement executed In con -
<br />nectlon herewith or any laws now or hereafter In force, not - withstanding some or all of the such Indebtedness and obligations secured hereby
<br />may now or hereafter be otherwise secured, whether by mortgage, dad of trust, pledge, Ilan, assignment or otherwise. Neither the acceptance
<br />of this Dad of Trust nor its enforcement whether by court action or pursuant to the power of sale or other powers heseirt contained, shall
<br />prejudice or In any manner affect Trustee's or Beneficiary's right to realize upon or enforce any other security now or hereater held by Trustee or P
<br />Beneticlary, it being agreed that Trustee and Beneficiary, and each of them, shall be entitled to enforce this Deed of Trust and any other security
<br />now or hereafter Mid by Beneficiary or Trustee In such order and manner as they or either of them may in their absolute discretion determine. No
<br />remedy herein conferred upon Or reserved to Trustee or Beneficiary Is intended to be exclusive of any other remedy herein or by law provided or
<br />permitted, but each shall be cumulative and shall be In addition to every other remedy given hereunder or now or hereafter existing at law or in
<br />equity or by statute. Every power or remedy provided hereunder this Deed of Trust to Trustee or Beneficiary or to which either of them may be
<br />otherwise entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or
<br />Beneficiary and either of them may pursue inconsistent remedies. Nothing herein shall be construed as prohibiting Beneficiary from seeking a
<br />deficiency judgment against the Trustor to the extent such action Is permitted by few.
<br />10. TraMfer of the Property; Assutnption. If all or any part of the property or any interest therein Is sold, transferred or conveyed by Trustor
<br />without Beneficiary's prior written consent, excluding (a) the creation of a lien of encumbrance subordinate to this Deed of Trust, (b) the creation
<br />of a purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint
<br />tenant or(d) the grant of any leasehold interest of three years or lose not containing an option to purchase, Beneficiary may, at Beneficiary's op-
<br />tion, declare all the sums secured by this Deed of Trust to be Immediately due and Davable. or cause the Trustee to file a notice of default.
<br />&moficiary shall have waived such option to accelerate if, prior to the sale, Transfer or conveyance, Beneficiary and the person to whom the
<br />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 />11. Aooerferatlon upon Default; llenredles; Sale. Upon default by Trustor in the payment of or performance of the terms and conditions of the
<br />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, Beneficiary may declare all sums secured hereby Immediately due and payable and the same
<br />shall thereupon become due and payable without presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may deliver to
<br />Trustee a written declaration of default and demand for safe. Trustee shall have the power of sale of the Property and if Beneficiary decides the
<br />Property Is to be sold it shall deposit with Trustee this Deed of Trust and the Note or notes and any other documents evidencing expenditures
<br />secured hereby, and shall deliver to Trustee a written notice of default and election to cause the Property to be sold, and Trustse, in turn, $half
<br />prepare a similar notice in the form required by law which shall be duly filed for record by Trustee.
<br />(a) After the lapse of such time as may be required by law following the recordation of Notice of Default, and Notice of Default and Notice of
<br />Sale having boon given as required by law, Trustee, without demand on Trustor, shall sell the Property In one or more parcels and in such order
<br />as Trustor may determine on the date and at the time and place designated in said Notice of Sale, at public auction to the highest bidder, the
<br />purchase price payable in cash in lawful money of the United States at the time of sale. The person conducting the sale may, for any cause he or
<br />the deems expedient, postpone the sale from time to time until it shall be completed and, in every such case, notice of postponement shall be
<br />givers by public declaration thereof by such person at the time and place last appointed for the sale; provided, If the sale is postponed for longer
<br />than one (1) day beyond the day designated in the Notice of Sale, notice thereof shall be given in the same manner as the original Notice of Sale.
<br />Trustee shall execute and deliver to the purchaser Its Deed conveying the Property so sold, but without any covenant or warranty, express, or
<br />Imptiod, The recitals in the Deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including without
<br />limitation Beneficiary or Trustee, may purchase at the sale.
<br />(b) When Trustee sells pursuant to the powers herein, Trustee shall apply the proceeds of the sale to payment of the costs and expenses of
<br />exercising the power of sale and of the sale, including, without limitation, the payment of Trustee's Fees incurred, which Trustee's Fees shall not
<br />In the aggregate exceed tie following amount, based upon the amount secured hereby and remaining unpaid: 5 percentum on the balance
<br />thereof; and then to the items set forth In subparagraph (c) hereof In the order therein stated.
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