86100813 - Laserfiche WebLink

Browse

6- 100813 6_ Add �NM WW pro NtNan of tae r'a Sewrltlr- Trust: -area; mate a =l payments of en *,eclat and principal and payments of any prier Chargaa, ton and exWe" contracted to to peed to any exmst,'vJ =�errhaiows ar prior bsnaficsar.es under any prior dead of trust or mor tillage, befor+a the date ttey are tar rtCuert4 and promptly pay Ana arscharge any and all other Siena. ctaims or Ctnarges which may jeopardize ere Security omitted "welt. it Trustor fakes tO creaks any such psymort or fasts to Perform s tam the commenced which mater reemantt is contained Beneficiary's inthi Deed of Trust, o In arty tx+a more used o, trust, or it any aGkxrt or proceeding Woo It the property, mcla,ding, but not limited lo, torment domain proCeadlr+gs, of proceedings involving a decedent, or it Trustor fates to pay Ttvtma's ditties gentratty " ttfty become tllw. than Banff csary, at Berteficiary's Option and without notice to or demand upon Trusto+ and wnhtwt row"Wg Tnrcta from anti obligation hereunder, may make suite appearances, disburse such sums, and take such action as is nto"fery to protect Beneficially's Interest, including, but not limited to. disbursement of reasonable attorney's fees, payment, purchase, con - taat or porrtproniao of any snaum wwwg, charge or lied, and Miry upon the Property to make repairs. to the event that Trustor shall tali to proctxt ilteutrarxi7a or to pay texas, asse:anNnta, o any Other charg" of to make any payments to existing prior lien holders or beneficiaries. �Y mat FttOCUrc such tnsurarfce and make such payment. Any amounts disbursed DY Beneficiary pursuant to This Paragraph 6 snail asiaoitxs additional ksdrt"s of Truabor secured by this Dead of Trust. Such amounts shall be payable upon notice from Beneficiary to Trustor requesting payment ttxersof, aced Mall bear intone from the date of disbureerrtsmt at ales rate payable from time to floe an outstanding princes under the Now union payment of interest at such rate would be contrary to applicable law, in which event such amounts shah bear in- twaei at the highest rat permissible urger applicable taw. Nothing contalned in this Paragraph 6 shall require Beneficiary to incur any expense or take arry action hereunder- T. AaailleMeM of 11wda. Beneficiary shall have the right, power and authority during tM continuance of this Deed of Trust to collect the rents. issues and profits of the Properny and of any personal property located thereon with or without taking possession of the property affected twtoy, and Trustor hereby absolutely and unconditionally assigns ail such rents, issues and profits to Beneficiary. Beneficiary, however, hereby conaemts 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. at such lima. in default with respect to payment of any indebtetirt "s "Cuttd hereby, or in the performance of any agreement hereunder. Upon any such dtiautt, Beneficiary 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 security for the Indebtedness hereby secured, (a) enter upon and take possession of the Property or any part thereol, 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. less costs and expenses of operation and collection, including reasonable attorneys fees, upon any indebtedness secured hereby, and in such 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 propefly; (C) 1 "" the same or any pan thereof for such rental, tarts, and upon such conditions as its judgment may dictate or terminate or ad- just the terms and conditions of any existing lease or leases. Unless Trustor and Beneficiary agree otherwise in writing, any application of rents. issues or profits to any indebtedness secured hereby shall not extend or postpone the due data of the installment payments as provided In said promissory note or change the amount of such installments. The entering upon 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 any default or notice of default hereunder, or invalidate any act done pursuant to such notice. Trustor also assigns to Beneficiary, as further security for the performance of the obligations secured hereby, ail prepaid rents and all monies which may have been or may hereafter be deposited with said Trustor by any lessee of the Property, to the payment of any rent at damages, and upon default in the performance of any of the provisions hereof. Trustor agrees to deliver such secure r rents and deposits to Beneficiary- Delivery of written notice of Beneficiary's exercise of the rights granted herein, to any tenant occupying said premises shall be sufficient to require said tenant to pay said rent to the Beneficiary until further notice. 6. CplMapegsn, if title to any part of the Property shall be taken in condemnation proceedings, by right of eminent domain or similar action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to Beneficiary who shall apply such awards, damages and proceeds to the sum secured by this Deed of Trust, with the excess. it any, paid to Trustor. It Trustor receives any notice or other information regarding such actions or proceedings, Trustor shall give prompt written notice thereof to Beneficiary. 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 entitled to make any compromise or 'settlement in connection with any such action or proceedings - 9 Rwledles Not EssluNw. Trustee and Beneficiary, and each of them, shall be entitled to enforce payment and performance of any indebted- 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- nection herewith or any laws now or hereafter in force, not - withstanding some or ail of the such indebtedness and obligations secured hereby may now, or hereafter to otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of thir Dead of Trust nor its enforcement whether by court action or pursuant to the power of sale or other powers herein contained, shalt re udice or in realize upon or enforce any other security now or hereater held by Trustee or pi an manner affect Trustee's or Seneficiary's right to y Beneficiary. it being agreed that Trustee and Beneficiary. and each of them, shatl be entitled to enforce finis Deed of Trust and any other securely d manner as they or either of them may in their absolute discretion determine. No now or hereafter held by Beneficiary or Trustee in such order an 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 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 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 otherwise entitled, may be exercised. 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 inconsistent remedies. Nothing herein shall be construed as prohibiting Beneficiary from seeking a deficiency judgment against the Trustor to the extent such action is permitted by law. 10. TrwlNer of the Property* Assumption. if all or any part of the property or any interest therein is sold, transferred or conveyed by Trustor without Beneficiary's prior written consent, excluding (a) the creation of a lien of encumbrance subordinate to this Deed of Trust. (b) the creation of a purchase money security interest for household appliances. (c) a transfer by devise, descent or by operation of taw upon the dealt of a )Dint tenant of (d)"grant of any leasehold interest of three years or iess not containing an option to purchase. Beneficiary may. at Beneficiary's op- tion, declare all file sums secured by this Deed of Trust to be immediately due and payable. or cause the Trustee to file a notice of default. Beneficiary shall have waived such option to accelerate it, prior to the sale. Transtei or conveyance. Beneficiary and the person 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 interest payable on the sums secured by this Deed of Trust snail be at such rate as Beneficiary shall request. I t Aoosrleratlsn upon Doloull; PA mtdles; Sale. Upon default by Trustor in the payment of or performance of the terms and conditions of the Note, or any renewals, modifications or extensions thereof. or the payment of any other +ndeotedness secured hereby or in the performance of any of the covenants or agreements hereunder. Beneficiary may declare all sums secured hereby immediately due and payable and the same shall thereupon become due and payable without presentment, demand, protest or notice of any kind. Therea". r. Beneficiary may deliver to Trust" a written declaration of default and demand for sale. 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 Trust and the Note or notes and any other documents evidencing expenditures secured hereby, and shall deliver to Trustee a written notice of default 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 snail be duly filed for record by Trustee. (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 Sale having been given as required by law. Trustee, without demand on Trustor, shall sell the Property in one or more parcels and in such order as Trustor may determine on the date arid at the time and place designated in said Notice of Sale. at public auction to the highest bidder. the purchase price payable in cash in lawful money of the United States at the lime of sale. The person conducting the sale may, for any cause he or she dooms expedient, postpone the sass from time to time until !t shall be completed and. in every such case, notice of postponement shall be given by public declaration thereof by such parson at the time and place Iasi appointed for the sale; provided, if the sale is postponed for longer 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. Trustee shall execute and deliver to the purchaser its Deed conveying the Property so sold. but without any covenant or warranty, express, or implied. The recitals in the Deed of any matters or facts shall be conclusive proof of the truthfulness thereof Any person, including without limitation Bareliciary or Trust", may purchase of Ina sale. (b) When Trustee slits pursuant to the powers herein, Trustee shall apply the proceeds of the sale to payment of the costs and expenses of exercising the power of sale and of the sale. including, without iimitation. the payment of Trustee's Fees incurred. which Trus'se's Fees shall not In the aggregate "Clod the following amounts based upon the amount secured hereby and remaining unpaid: 5 percentuM. on the balance thertot: and then to the items alt forth in subparagraph (c) hereof in the order therein slated 0 fa r~ a.