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87104362
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Last modified
10/19/2011 10:13:53 AM
Creation date
3/27/2008 2:34:59 PM
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DEEDS
Inst Number
87104362
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of the indebtedness secured hereby or to repair and restore the <br />property so taken. <br />7. Performance by Beneficiary. Beneficiary may, but shall <br />have no obligation to, do any act which Trustor has agreed but <br />failed to do, and Beneficiary may also do any act it deems <br />necessary to protect the lien hereof. Trustor agrees to repay, <br />upon demand, any sums so expended by Beneficiary for the above <br />purposes, and any sum so expended by Beneficiary shall be added <br />to the indebtedness secured hereby and become secured by the lien <br />hereof. Beneficiary shall not incur any personal liability <br />because of anything it may do or omit to do hereunder. <br />8. Inspections. Beneficiary, or its agents, representa- <br />tives or workmen, are authorized to enter at any reasonable time <br />upon or in any part of the property for the purpose of inspecting <br />the same and for the purpose of performing any of the acts it is <br />authorized to perform under the terms of any loan instruments <br />executed by Trustor. <br />9. Assignment of Rents. Beneficiary shall have the right, <br />power and authority during the continuance of this Deed of Trust <br />to collect the rents, issues and profits of the property and of <br />any personal property located thereon with or without taking <br />possession of the property affected hereby, and Trustor hereby <br />absolutely and unconditionally assigns all such rents, issues and <br />profits to Beneficiary. Beneficiary, however, hereby consents to <br />Trustor's collection and retention of such rents, issues and <br />profits as they accrue and become payable, so long as Trust -or is <br />not, at such time, in default with respect to payment of any <br />indebtedness secured hereby, or in the performance of any agree- <br />ment hereunder. If any event of default described hereafter in <br />respect to this Deed of Trust shall have occurred and be con- <br />tinuing, Beneficiary, as a matter of right and without notice to <br />Trustor or anyone claiming under Trustor, and without regard to <br />the value of the trust estate or the interest of the Trustor <br />therein, shall have the right to apply to any court having juris- <br />diction to appoint a receiver of the property. <br />10. Transfer of Property. If all or any part of the <br />property or any interest of Trustor therein is sold, transferred <br />or further encumbered without the express or written consent of <br />Beneficiary, Beneficiary may, at its sole option, declare all <br />sums secured by this Deed of Trust to be immediately due and pay- <br />able and proceed to the remedies available to it under the <br />default provisions contained herein. <br />11. Events of Default. Any of the following events shall <br />be deemed an event of default hereunder: <br />(a) Trustor shall nave failed to make payment of <br />any installment of interest, principal or principal and <br />interest or any other sums secured hereby when due; <br />(b) There has occurred a breach of or default <br />under any term, covenant, agreement, condition, provi- <br />sion, representation or warranty contained in this Deed <br />of Trust, the note or any other loan instrument secured <br />hereby; <br />(c) There has been a default by the Trustor in <br />the payment of any prior or subsequent lien or encum- <br />brance in respect to all or any part of the property; <br />(d) Trustor shall file a voluntary petition in <br />bankruptcy or shall be adjudicated bankrupt or insol- <br />vent, or shall make an assignment for the benefit of <br />creditors in respect to the property; or an action to <br />enforce any lien or encumbrance or judgments against <br />the property is commenced. <br />12. Acceleration Upon Default. In the event of any defakilt, <br />Beneficiary may dec are all 1n a tednc -Iss riecured hereby to be dues <br />M <br />
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