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35- 001699
<br />have under applicable law sue such other remedies as American may
<br />to rei The proceeds of any foreclosure sale shall first be applied
<br />mbu rse American for (1) the costs and expenses of foreclosure,
<br />and (2) attorneys# fees in the amount of 5% of the then unpaid
<br />indebtedness if foreclosure is made through the Trustee, or, if fore-
<br />closure is made through the courts, -such additional fees as may be
<br />directed by an appropriate court. The balance of the proceeds shall
<br />be paid first to American to pay the Obligation, and the surplus, if
<br />any, shall be paid to the owner of the Property on the date of the
<br />foreclosure sale. In the event of foreclosure and during the redemp-
<br />tion period, interest at the default rate set forth in the Note shall
<br />be payable on all sums due under the foreclosure proceeding.
<br />If this Deed of Trust is foreclosed either through the
<br />Trustee or through the courts,. American may add to the Obligation
<br />outstanding at the time of such foreclosure an amount equal to the
<br />prepayment premium, if any, that would be payable if the Obligation
<br />were prepaid at the time of the foreclosure sale.
<br />12. As further and additional security for the payment of
<br />the Obligation secured by this Deed of Trust, Grantor assigns, trans-
<br />fers, and sets over unto American the rents, profits, royalties and
<br />income derived from the Property and the buildings and improvements
<br />on the Property with the same force and effect as if this assignment
<br />were made in a separate instrument. This assignment is absolute and
<br />unconditional except that so long as no default shall exist under the
<br />Obligation or this Deed of Trust, Grantor shall have the rignt to
<br />collect, receive, and retain (upon accrual) all such rents, profits,
<br />royalties and income. Upon any default under the Obligation or this
<br />Deed of Trust, American shall have full and complete authority and
<br />right to demand, collect, receive, and receipt for such rents,
<br />income, profits, and royalties to take possession of the Property
<br />without having a receiver appointed for such purpose, to rent and
<br />manage the same from time to time, and apply the net proceeds of such
<br />rents, income, royalties and profits upon the Obligation until all
<br />delinquencies, advances, and the Obligation are paid in full or until
<br />title to the Property is obtained by American through foreclosure or
<br />otherwise. On refusal of Grantor to deliver
<br />to delivery and use, enjoyment, rents, issues,proyalties�and�h right
<br />may be enforced by American or the holder of the certificate ofopur-
<br />chase by any appropriate civil suit or proceeding, and American or
<br />the holder of such certificate of purchase shall be entitled as a
<br />matter of right to a receiver for the Property, without regard to the
<br />solvency or insolvency of Grantor or of the then owner of the
<br />Property and witnout regard to the value of the Property, and such
<br />receiver may be appointed by any court of competent jurisdiction upon
<br />ex parte application and without notice, notice being heresy
<br />rents
<br />expressly waived, and all , issues, profits, income, royalties
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