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r 86-J 102956 6. "d wonel Us" and Protection of Beneficiary s Security. Trusto+ shall make all payments of interest and principal and payments of any other charges, fees and expenses contracted to be paid to any existing Itenhc,#ders or prior beneficiaries under any prior deed of trust or mor- tgage before the date they are delinquent and promptly pay and discharge any and all other liens, claims or charges which may jeopardize the security granted herein. If Trustor falls to make any such payment or fails to perform any of the covenants and agreements contained In this Deed of Trust, or In any prior mortgage or dead of trust, or If any action or proceeding is commenced which materially affects 1 ~1ciary's In- forest in the Property, Including, but not limited to, eminent domain proceedings, or proceedings Involving a decedent, or If Trustor tails to pay Trustor' s debts generally as they become due, then Beneficiary, at Beneficiary's option and without notice to or demand upon Trustor and r without r=s1ng Trustor from any obligation hereunder, may make such appearances, disburse such sure, and take such action as is I necessary to protect Banal iclary's interest, including, but not limited to, disbursement of reasonable attorney's fees, payment, purchase, con- test or compromise of any encumbrance, charge or lien, and entry upon the Property to make repairs. In the went that Trustor shall fall to procure Insurance or to pay taxes, assessments, or any other charges or to make any payments to existing prior lien holders or beneficiaries. Beneficiary may procure such Insurance and make such payment. Any amounts disbursed by Beneficiary pursuant to this Paragraph 6 shall become additional Indebtedness of Trustor secured by this Deed of Trust. Such amounts shalt be payable upon notice, from Bernsfictary to Trustor requesting payment thereof, and "if beer Interest from the date of 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 to applicable law, In which went such amounts shalt bear in- forest at the highest rate permissible under applicable law. Nothing contained In this Paragraph 6 shall require Beneficiary to Incur any expense or take any action hereunder. I, Assfgnntent of Rents. Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to coiled the rents, Issues and profits of the Property and of any personal property located thereon with or without taking possession of the property affected hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, Issues and profits to Beneficiary. Beneficiary, however, hereby 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, at such time, in default with respect to payment of any Indebtedness secured hereby, or In Ma performance of any agreement hereunder. Upon any such default, 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 thereof, and in Its own name sure 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 Property; (c) lease the same or any part thereof for such rental, term, 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 date 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, 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 secure the payment of any rent or damages, and upon default in the performance of any of the provisions nereot, Trustor agrees to deliver such 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. S. Condernnstion. 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. if 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. RMnadles Not Exclusive. 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 all of the such indebtedness and obligations secured hereby may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien. assignment or otherwise. Neither the acceptance of this 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 manner affect Trustee's or Beneficiary s right to realize upon or enforce any other security now or hereater held by Trustee or Beneficiary, It being 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 hold by Beneficiary or Trustee in such order and manner as they or either of them may in their absolute discretion determine. No 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 bylaw. 10. Transfer of the Property; Assumption. if all or any Nart 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, ic) a transfer by devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any lea3ehold Interest of three years or less not containing an option to purchase, Beneficiary may, at Beneficiary's op- tion, declare all the sums secured by this Deed of Trust to be immediateiv due and oavable, or cause the Trustee to file a notice of default. Beneficiary shag have waived such option to accelerate N, prior to the sale. Transfer or conveyance. Beneficiary and the person to whom the property is to be sold or transferred reach agreement in writing that the credo of such person is satisfactory to Beneficiary and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as Beneficiary shall request. 11. Accerleration upon Default; Remedies; 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 tttereof, or the payment of any other indebtedness 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. Thereafter, Beneficiary may deliver to Trustee a written declaration of default and demand for sate. Trustee shall have the power of sale of the Property and it Beneficiary decides the Property Is to be sold it shall deposit with Trustee this Dead of Trust and the Note or notes and any other documents evidencing expenditures secured hereby, and shalt deliver to Trustee a written notice of default and election to cause the Properly to be sold. and Trustee, in turn, shall prepare a similar notice In the form required by law which shall be duly filed for record by Trustee. (a) After the lapse of such time as may be required by jaw 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 and 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 iawtui money off" United States at the ;ime of sale The person conducting the sale may, for any cause he or She deems expedient, postpone the sale from time to time until it shall be completed and, in every such case, notice of postponement shall be given by public declaration thereof by such person of the time and place last appointed for the sale, provided, if the sale is postponed for longer than one(t) day beyond the day designats 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 Used of any matters or facts shall be conclusive proof of the truthfulness thereof Any person. including without limitation Beneficiary or Trustee, may purchase at the sale. (b) When trustee soils pursuant to the powers herein, Trustee shall apply the proceeds of the sate to payme4rt'bf the costs and expenses of exercising the power of safe and of the sale. including, without limitation, the payment of Trustees Fees incurred, which Trustee's Fees small not in the aggregate exceed the following amounts based upon the amount secured hereby and remaining u,paio 5 percentum on the balance (hereot; and than to iM items set forth in subparagraph 10 hereof In the order therein stated