Laserfiche WebLink
t <br />$6 X0751 C <br />without releasing Trustor from any obligation hereunder, may make such appearances, disburse <br />such sums, and take such action as is necessary to protect Beneficiary's interest, including, <br />but not limited to, disbursement of reasonable attorney's fees, payment, purchase, contest <br />or compromise of any encumbrance, charge or lien, and entry upon the Property to make repairs. <br />In the event that Trustor shall fail to procure insurance or to pay taxes, assessments, or <br />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 <br />Beneficiary pursuant to this Paragraph 6 shall become additional indebtedness of Trustor <br />secured by this Deed of Trust. Such amounts shall be payable upon notice from Beneficiary <br />to Trustor requesting payment thereof, and shall bear interest from the date of disbursement <br />at the rate payable from time to time on outstanding principal under the NOTE unless payment <br />of interest at such rate would be contrary to applicable law, in which event such amounts shall <br />bear interest at the highest rate permissible under applicable law. othing contained in this <br />Paragraph 6 shall require Beneficiary to incur any expense or take any action hereunder. <br />7. Assignment of Rents. Beneficiary shall have the right, power and authority during <br />the continuance of this Deed of Trust to collect the rents, issues and profits of the Property <br />and of any personal property located thereon with or without taking possession of the property <br />affected hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, <br />issues and profits to Beneficiary. Beneficiary, however, hereby consents to the Trustoe's <br />collection and retention of such rents, issues and profits as they accrue and become payable <br />so long as Trustor is not, at such time, in default with respect to payment of any indebtedness <br />secured hereby, or in the performance of any agreement hereunder. Upon any such default, <br />Beneficiary may at any time, either in person, by agent, or by a receiver to be appointed <br />by a court, without notice and without regard to the adequacy of any security for the indebt- <br />edness hereby secured, (a) enter upon and take possession of the Property or any part thereof, <br />and in its own name sue for or otherwise collect such rents, issues and profits, including <br />those past due and unpaid, and apply the same, less costs and expenses of operation and <br />collection, including reasonable attorneys fees, upon any indebtedness secured hereby, and <br />in such order as Beneficiary may determine; (b) perform such acts of repair or protection as <br />may be necessary or proper to conserve the value of the Property; (c) lease the same or any <br />part thereof for such rental, term, and upon such conditions as its judgement may dictate or <br />terminate or adjust the terms and conditions of any existing lease or leases. Unless Trustor <br />and Beneficiary agree otherwise in writing, any application of rents, issues or profits to any <br />indebtedness secured hereby shall not extend or postpone the due date of the installment <br />payments as provided in said promissory note or change the amount os such installments. The <br />entering upon and taking possession of the Property, the collection of such rents, issues and <br />profits, and the application thereof as aforesaid, shall not waive or cure any default or <br />notice of default hereunder, or invalidate any act done pursuant to such notice. Trustor <br />also assigns to Beneficiary, as further security for the performance of the obligations <br />secured hereby, all prepaid rents and all monies which may have been or may hereafter be <br />deposited with said Trustor by any lessee of the Property, to secure the payment of any rent <br />or damages, and upon default in the performance of any of the provisions hereof, Trustor <br />agrees to deliver such rents and deposits to Beneticiary. delivery of written notice of <br />Beneficiary's exercise of the rights granted herein, to any tenant occupying said premises <br />shall be sufficient to require said tenant to pay ;aid rent to the Beneficiary until further <br />notice. <br />8. Condemnation. if title to any part of the Property shall be taken in condemnation <br />proceedings, by right of eminent domain or similar action, or stall be sold under threat of <br />condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to <br />Beneficiary who shall apply such awards, damages and proceeds to the sum secured by this <br />Deed of Trust, with the excess, if any, paid to Trustor. It Trustor receives any notice or <br />other information regarding such actions or proceedings, Trustor shall give prompt written <br />notice thereof to Beneficiary. Beneficiary shall be entitled, at its option, to commence, <br />appear in and prosecute in its own name any such action or proceedings and shall be entitled <br />to make any compromise or settlement in connection with any such action or proceedings. <br />Y. Remedies Not E:xciusive. Trustee and be net tctary, and eacit of diem, sit aii be entit it, d <br />to enforce payment and performance of any indebtedness or obligations secured hereby and to <br />exercise all rights and powers under this Deed of Trust or under any other agreement executed <br />in connection herewith or any laws now or hereafter in force, notwithstanding some or all of <br />the such indebtedness and obligations secured hereby may now or hereafter be otherwise secured. <br />whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the <br />acceptance of the !need of Trust nor its enforcement whether by court action or p'_.rsuant to the <br />power of sale or other powers herein contained, shall prejudice or in any manner affect <br />Trustee's or Beneficiary's right to realize upon or enforce anv other security now .11' h,-rt'- <br />af-ter held by Trustee or Beneficiary, it being agreed that 17ustee and lieneficiat), and 1a11k <br />of them, shall be entitled to enforce this Deed of Trust and anv oth,,r security now or ilk I,- <br />_c..... ti,.ta I— K,..... ii, iury or `rrustev in such order and manner- is tl;,•v vttttrt „1 t " "' "'t� <br />I t t <br />r. <br />