Laserfiche WebLink
M <br />VI-33 <br />(h) if Trustor is a partnership and the interest of a general partner terminates, is assigned or transferred, or is diminished in <br />any respect, or if Trustor is a corporation and a majority of the voting corporate stock is transferred, wild or assigned, or if the <br />Trustor is a Trustee of a trust and there is a change of any of the Beneficial interest of the trust; or <br />(j) Trustor shall, without the consent of Beneficiary, create or consent to the establishment of a district which has taxing <br />powers. <br />ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES• In the event of any default hereunder. Beneficiary <br />may, at its option,: <br />(a)Terminate additional advances, if any, to be made under or pursuant to the Promissory Note or any building loan agree- <br />ment; or <br />(b) Declare any sum secured hereby immediately due and payable and the same shall there upon become due and payable <br />without any presentment, demand, protest or notice of any kind; or <br />(c) At any time, with or without notice, either in person, by agent, or by receiver to be appointed by the Court withoutregard <br />the adequacy of any security for the indebtedness secured hereby, enter upon and take possession of such property or any part <br />thereof, make, cancel, enforce or modify leases; obtain and eject tenants, set or modify rents; in its own name sue or otherwise <br />collect the rents, income, issues and profits thereof, including those past due and unpaid; and apply the same, less costs and <br />expenses of operation, including reasonnble attorney's fees, upon any indebtedness secured hereby and in such order as Bene <br />ficiary may determine; and except for such application, Beneficiary shall not be liable to any person for the collection or non- <br />collection of any rents, income, issues or profits for the failure to assert or enforce any of the foregoing rights, nor shall Bene- <br />ficiary be charged with any of the duties and obligations of a mortgagee in possession. The entering upon and taking posses. <br />Rion of such property, the collection of such rents, income, issues or profits, the doing of other acts herein authorized, and the <br />application thereof am nforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done <br />pursuant to such notice; or <br />(dt Caame to lie filed of record, a written notice of default and election to sell such property. After the lapse of such time as then <br />may be required by law following recordation of such notice of default, and notice of sale having been given as required by law, <br />Trustee, without demand on Trustor shall sell such property, either as a whole or in separnte parcels, and in such order as it or <br />Beneficiary may determine at public a action to the highest bidder. The Trustee may postpone the sale of all or any portion of <br />such property by public announcement at the time of sale, and from time to time thereafter, may postpone the sale by public <br />announcement at the time and place fixed by the preceeding postponement. Trustee shall deliver to such purchaser its deed <br />conveying the propwrty so sold, without tiny covenant orwarranty, express orimplied. The recitial in such deedofany matters <br />of fact or otherwise shall he conclusive proof of the truthfulness thereof. Any person, including Trustor, Trustee or Benefici. <br />ary, may purchase at said sale. Trustee may also sell at any such sale and as a partthereof, any shares of c•orp orntestock secur- <br />ing the obligation secured hereby, and Truster waives demand and notice of such sale. (Beneficiary at it's option may also <br />foreclose on such shares by independent pledge sale, and Trustor waives demand of notice of such sale.) After deducting all <br />costa, fees and expenses of Trustee, and of this trust, including cost of evidence of title in connection with such sale. Trustee <br />shall first apply the proceeds of sale to the payment of all sums expended under the terms hereof, not then repaid, with accrued <br />interest at the rate then payable under the note or notes secured hereby, and then to payment of all othersums secured hereby, <br />and if thereafter there be any proceeds remaining, distribute them to the person or persons legally entitled thereto. <br />if this Deed ofTrust or any note secured hereby proatdesfor any charge for prepayment of any indebted nesssecured hereby, <br />Trustor agrees to pay said charge, if any of said indebtedness shall he paid prior to the maturity dote thereofstated in said note <br />or this Deed of Trust, even if and notwithstanding Trustor shall have defaulted in payment thereof, or in performance of any <br />agreement hereunder, and Beneficiary by reason thereof, shall have declared all sums secured hereby immediately due and <br />payable. <br />SCHEDULE OF LEASES: Within ten ( 1(I) days after demand, Trustor shall furnish to Trustee or Beneficiary a schedule, <br />certified by Trustor, setting forth all leases of such property, including, in each case, the name of the tenants or occupants, a <br />description of the space occupied by such tenant and occupant, the rental payable for such space and such other information <br />and documents with respect to such leases and tenancies as the Trustee or Beneficiary may request. <br />COVENANTS OF TRUSTOR WiTH RESPECT TO LEASES: Without the prior written consent of Trustee or Beneficiary. <br />Trustor shall not, directly or indirectly, with respect to any lease of space in such property, whether such lease is not or hereaf- <br />terter in existence: (a) accept or permit any prepayment, discount or advance payment of rent thereunder; (b) cancel or termi- <br />nate the same, or accept any cancellation, termination or surrender thereof, or permit tiny event to occur which would entitle <br />the lessee thereunder to terminate or cancel the same; (c) amend or modify the same so as to reduce the term thereof, the rental <br />payable thereunder, or to change any renewal provisions therein contained; (d) waive any default thereunder or breech lhreof. <br />(e) give any consent, waiver or approval thereunder or take any other action in connection therewith, or with a lessee thereun- <br />der, which would have the effect of impairing the value of lessors interest thereunder or the property subject thereto, or of im- <br />pairing the position or interest of the Trustee or Beneficiary; or (f) sell, assign, pledge, mortgnge or otherwise dispose of, or <br />encumber its interest in any said lease or any rents, issues or profits issueing or rising thereunder. <br />DUTIES OF THE TRUSTEE.: Trustor agrees that; (a) theduties and obligations of Trustee shall be determined solely by the <br />express provisions of this Deed of Trust and the Trustee shall not be liable except for the performance of such duties and oblign- <br />tions an are specifically set forth herein, and no implied covenants or obligntions shall be imposed upon the Trustee; (b) no pro <br />of this Deed of Trust shall require Trustee to expend orrink its own funds, or otherwise incur tiny financial obligation in the per. <br />formance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have grounds for believing <br />that the repayment of much funds or adequate indemnity against such risk or liability is not reasonably assured to it; (c) Trust- <br />ee may consult with counsel of its town choosing and the advise of such counsel shall he full and complete authorization and <br />protection in the respect of any action taken or suffered by it hereunder in good faith and in reliance thereon; (d) Trustee shall <br />not be liable for any action taken by it in good faith and reasonably believed by it to be authorized or within the discretion or <br />rights of powers conferred upon it by this Deed of Trust. <br />TRUSTEE'S FEES: Trustor CXpreamly COV emints it rid agrees to pay anti discharge all cost, fees amt expen NEB of tlma Deed of <br />Trust, including in the event of sale by the Trustee of such property, the'frustee's costs, expenses and fees, which fees shall not <br />exceed tSM.00 plus 't of iT, of the amount secured hereby and remaining unpaid. <br />t� <br />SUBSTITUTION OFTRUSTEE:That Beneficiary may, from timetutime•, by instrument in writing, suhslituteasuccessor r.0) <br />or successors to any Trustee named herein orneting hereunder, which instrument, executed and acknowledged 1)v Ilenefirtnrp <br />and recorded in theoffice of the regiaterof Heeds of the county or counties where such property is situated, shall be ronrhlstve <br />rolvvol <br />