85000475 - Laserfiche WebLink

Browse

A00475 charges charges or to make any payments to any 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 Trust Deed. Such amounts shall be payable upon notice from Beneficiary to Trustor requesting payment thereof, and shall bear 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 event such amounts shall bear interest at the highest rate permissible under applicable law. Nothing contained in this Paragraph B shall require Beneficiary to incur any expense or take any action hereunder. 7. Assignment of Rants. Beneficiary shall have the right, power and authority during the continuance of this Trust Deed to collect 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 uncondi- tionally 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 the 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, la) enter upon and take possession of the Property or any part thereof, 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; Ib) 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 adjust the terms and conditions of any existing pease or leases. Unless Trustor and Beneficiary agree otherwise in writing, any applica- tion 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 obliga- tions 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 hereof, Trustor agrees to deliver such rents and deposits to Beneficiary. De- livery 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. B. Condemnation. 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 pi oceeds to the sum secured by this Trust Deed, with the excess, if 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. Future Advances. Upon request of Trustor, Beneficiary at Beneficiary's option, prior to reconveyance of the Property to Trustor may make future advances to Trustor. Such future advances, with interest thereon, shall be secured by this Trust Deed when evidenced by promissory notes stating that said notes are secured hereby. 10. Remedies Not Exclusive. Trustee and Beneficiary, and each of them, shall be entitled to enforce pay- ment and performance of any indebtedness or obligations secured hereby and to exercise all rights and powers under this Trust Deed or under any other agreement executed in connection herewith or any laws now or hereafter in force, notwithstanding 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 accep- tance of this Trust Deed 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 Trustees or Beneficiary's right to realize upon or enforce any other security now or hereafter held by Trustee or Beneficiary, it being agreed that Trustee and Bene- ficiary, and each of them, shall oe entitled to enforce this Trust Deed and any other security now or hereafter held 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 heraurWe• or now or hereafter existing at law or in equity or by statute, Every power or remedy provided hereunder this Trust Deed to Trustee or Beneficiary or to which either of them may be otherwise entitled. may be exercised, concurrently or independently, from time to time arts 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 peer - milted by law, 11. Transfer of the Pro -arty; Atssumptoil, If ail or any part of the moperty or any interest therein is sold, transferred or r_onveyeJ i y Trustor without 3erehciary's nnor written consent, excludinq (a) the eretihon of a lien or encumbrance subordinate to this Trust Dearl, (bl the creation of a purchase array security interest for 'eouse i hold appliances, le) a transfer by devise, descent or by operation of law upon the death of a joint trmant nr I(j) the grant of any leasehold interest of three years or less not eontaininq an option to imichaw, B"eficiary may, at Renefociary's option, declare all the sums secut "l by this Twit Deed to bar nnmediately dues and payable plovideti. g fees 71114 patde 3 nil 6