|
65.: 002349
<br />said Bentific6�;pUtai amount, or any portion thereof, may be released to the Tnfs101. In any such event neither the Trustee nor the Beneficiary shall
<br />be obligated to see life proper application ihercol: nor shall the amount so released or used be deemed a payment on any Indebtedness secured
<br />heleby Such application, use, andror release shall noteure or waive any default or notice of default hereunder or Invalidate any act done pursuant to
<br />such notice. Any unexpired insurance and all returnable insurance premiums shall Inure to the benefit of, and pass to, ilia purchaser of the property
<br />covered thereby at any Trustee's sale held hereunder. It said property is sold pursuant to the power of sale contained herein or pursuant to any decree
<br />of lorectosure. all fight. title and Interest of Trustot in and to the proceeds of lire and other Insurance policies for damage prior to the sale. which pro-
<br />ceeds are not received prior to the date of said sale. shall belong to Beneficiary.
<br />5. Taxes and Other Sums Due: To pay, satisfy and discharge, at least ten (10) days before delinquency, all general and special taxes and
<br />assessments affecting such property, and in no event later than the date such amounts become due: (1 I all encumbrances, charges and liens, with
<br />Interest. on such propef ty, of any part thereof, which are, or appear to Beneficiary to be prior to or superior hereto, 121 ail costs, fees and expenses of
<br />this trust, whether of not described herein. 131 fees or charges for any statement regarding the obligation secured hereby in any amount demanded by
<br />Benehclofy, not to exceed the maximum amount allowed by law therefor at the time when such request is made, 141 such other charges as the
<br />Benellcmry may deem reasonable for services rendered by Beneficiary and furnished at the request of Trustor or any successor in Interest to Trustor.
<br />151 If such property Includes a leasehold estate, all payments and obligations required of the Trustor,or his successor in Interest, under the terms of the
<br />instrument or Instruments creating such leasehold, Trustor hereby agreeing not to amend, change, or modify his leasehold Interest or the terms on
<br />which he has such leasehold interest, of to agree to do so, without the written consent of Beneficiary being first obtained. 161 all payments and
<br />monetary obligations required of the owner of such property under any declaration of covenants, conditions and restrictions pertaining to such pro
<br />petty Or any modification theraof Should Trustot tail to make any such payment, Beneficiary, without contesting ilia validity or amount, may elect to
<br />make of advance suCh payment, together vilify any costs, expenses. lees or charges relating iheteto, including employing counsel and paying his
<br />reasonable fees Trustor agrees to notify Beneficiary immediately upon receipt by Trustor of nonce of any increase in the assessed value of such pro.
<br />Petty and agrees that Beneficiary. in the name of Trustor, may contest by appropriate proceedings such Increase in assessment .
<br />in the event of the passage of any law deducting from the value of real property for the purposes of taxation any lien thereon, or changing in any
<br />way the laws for the Iaxalion of deeds of trust of debts secured by deeds of trust for state or total purposes, or the manner of the collection of any
<br />such taxes. so as to affect this Deed of Trust, the holder of this Deed of Trust and of the obligations which it secures shall have the right to declare all
<br />sums seetited hereby due as of a date to be specified by not less than 30 days' written notice to be given to Trustor by Beneficiary: provided,
<br />however, that such electron shalt be ineffective if Trustor is permitted by law to pay the whole of such tax in addition to all other payments required
<br />hereunder and it, prior to such specified date, does pay such tax and agrees to pay any such tax when hereafter levied or assessed against such pro-
<br />perty
<br />6. Sums Advanced to beer Interest: To pay immediately upon demand any sums advanced or paid by Beneficiary or Trustee under any clause or pro-
<br />vision of this Deco of Trust Any such sums, until so repaid. shall be secured hereby and bear Interest Itom the date advanced or paid at the same rate
<br />as on Prumusory Note and shall be secured by this Deed of Trust.
<br />7. Assignment of Deposit. That as further additional security if this be a construction loan, Trustor hereby transfers and assigns to Beneficiary dur-
<br />ing continuance of these Trusts . all tight. tale and interest 10 any and all monies deposited by T#uslor or ouposiled on behalt of Trustot with any city.
<br />county public body or agency. sanda(y district, gas andror electric company, teiaphone company and any other body or agency, for the installation
<br />or to secure the alstailaLOn of any util.ly by Trustor, pertaining to such property.
<br />b Failure of Trustot to Comply with Deed of Trust' Should Trustor fad to make any payment, or to do any act as provided In this Deed of Trust. or fail
<br />lu yc'rlolm any SIC-ld by In,s Deed of Trust, or do any act Trustor agreed not to do. Trustor shall be In default under this Deed of Trust.
<br />Bone ficwry. riot —iii ill obi g7at,on so to do and without notice 10 or demand upon Trustor and without releasing Trustor from any obl,gation hereof
<br />and without Conies ling the yabd,ty or amount of the tattle. may tat make or do the same In such manner and to such extent as it may deem necessary
<br />to p,OtCI the securely hereot. Beneficiary being aulhul+led to enter upon such property for Such purposes, and Ibl pay, purchase, contest or com
<br />piomrse any encumbrance. Charge of hen• which in its judgment is or appears to Oa prior or superior hereto. and Icl in exercising any such power, pay
<br />necessary expenses, employ counsel and pay his reasonable fees. Trustor agrees to repay any amount so expended on demand of Beneficiary
<br />IT IS MUTUALLY AGREED THAT:
<br />9. Litigation: Trustor shalt defend this Trust In any action or proceeding purporting to affect such property. whether Or not I aflects the SNC,day
<br />hereof „ urpurtiny !o aHecl the nghis m powers of J3enef,cl4ry or Trustee, and shall file and prosecute all necessary cla,rns end actions to prevent
<br />IW IecCv01 •fur tiny llarnage 10 Ur the S!IoClon of such properly, antl Colic, Trustee fir Beneficiary rs hereby autilolited. without utih(jat,On sO t6 di;. tO
<br />cummence. appear ,n or defend any such action. whether brought by or against T,usto,, Beneficiary or Trustee or with pr w+lhoul Suwt, to e,e,GSe Or
<br />enferCe any other r,gt''I, remedy of power avdda Cie Or Conlerred hefaundet. whether or not judgment be entered in any action of ptoceed,ng. :mil
<br />Truster or Beneficiary may appear or intervene in any action or proceeding . and retain counsel thefeln. and lake such action iherem, as either may be
<br />adv•sed and may seltie. compromise or pay the same of any other claims and. in the behalf and for any of said purposes, may expend and advance
<br />such sums of money as a,thel may deem necessary Wholher or not Truslol so appears or defends. Trustor (ill demand shall pay alt costs and ex
<br />penses of B$nel,c,aty and Trustee. including costs of evidence of title and attorneys fees ,n a reasonable sum. In any such acl,on of puceed,ng in
<br />which Beneficiary or Trustee may appear by virtue of being made a patty defendant or otherwise and ,respective of wheme, t,,e nte,est of
<br />Beneficiary or Trustee In such property IS directly questioned by such action, including but not bunted to any action rot the condernnal,on or patt,!,cn
<br />of such property
<br />10 Condemnation. All sums clue, paid of payable to Trustor, or any successor in interest of Trustor. whether by way of µ,dgmenl settlement cn
<br />otherwise. (a) for injury or damage to such prepetly, of lot in connection with any condemnation too public use Of injury to suc1, p+upe,ty or env part
<br />thereof. or !cl In connection with the transaction financed fly the loan secured hereby. or (d) arising out of all Cou Ses of action, wrielhel aCCrtr•nt)
<br />belo,e or after the date of INS Deed of Trust . sounding in soft of corrUdCt. mGud rig Causes of aeimn for band or concealment of a materiel fact .
<br />logethef with the seltiemenis, proceeds, awards and damages, direct and consequential, in connection therew1l F., are heieby atisolutely and it
<br />revucab :y assigned and shall be paid to Beneficiary 81114fiotary snail be entitled, at its option, to commence, intervene ill. appear ,, and pro SeCule ,+
<br />its own name. any "lion or piocead,ng, of to make any compromise or settlement, in connection with any Such tak,ng or damage T,u 1o, a,.)rees lo
<br />execute such further assignment$ of any compensation, award. damages, fights of action anti proceeds as Beneficiary may require
<br />AN amounts received by Beneficiary pursuant to true Deed of Trust under any lire or other insurance policy, m eonnenion will% any eondernnal,un
<br />for public use of of usury to su Ch property, for injury or dame" to such property Or in connection with the transaction financed by the loan securest
<br />hereby are to be applied, at the option of 8enel,cisly, upon any indebtedness secured hereby. No such application, use or release shall cuts or waive any
<br />dafeult, of notice of default, hereunder Or Invalidate any Oct done pursuant to such notice.
<br />it
<br />�_ A
<br />11. Consent, Partial Reconvayonce, Etc.: That at env lime, or from time to time, without liability therefor, and without notice, upon wnllen ,ec)n,re1
<br />of beneficiary. and without affecting ilia personal liability of any parson lot payment of the indebtedness secured hereby. it the hen of this Deed i,f
<br />Trust upon the remainder of such property lot the lull amount of the mdebtednesf then of thetealtsf secured hereby, o, file nghls or powers ut 1h,,
<br />Beneficiary of the Trustee with #aspect to the remainder of such property, Trusts, may le) reeonvey any part of such properly, lb) consent to the
<br />makrna of env map or plat tficreul, to) Idan in granting any easement thereon, or Idl join in any extension agreement or any agreument subonhnahnq
<br />the lien ar charge hereof.
<br />12 Fu" Reeonvayance. That, upon wrntan request of Beneficiary stating that ail sums sec„lad l,er$.ily have been paid, Tin5lue sh,sil re u) ev
<br />wllh*of waranly, the property then Reid hateondar The recitals in such feconyeyance of any mail@,$ of fact shall be cnn(Iu%.,Q pool or the
<br />If uthlutne ss thereof The grantee In such laconveyance may be designated as Uta person if n @taunt Irrgauy enldled I11eIe1O ..nth request ;i•n1
<br />taGOttveyanee thald operate as a r@asslgnfnent of ilia rents, Income. Issues antl profits harumh •1wo assigned to Ben@ficlary
<br />13. Right to Co"eCt and Receive Rant and Profits: Notwithslandmg any other provision$ hereof. kden@huary f1@reby grants j:.rin,iy soon Ili 1,;,1>;I,r ti,
<br />Collect and rala+n the teni%, Inconla. Issues and profits of %rich properly as they become due and payable but reserves 11w r lh1 1+, ri•vojiri ,,,. I, („ >I
<br />m %%,u:, at any tame with u, •withc,1 Cause, by notice In willing In T,usic, ma,leo to T ... stor at ills faSj kr. :. ,v uddr(•5s In .,I%y r', Ian, •sir, 1, i,l" , +, N.,
<br />!o Trusiu, autonlabCaily strail tie #evoked upon default by Trustor in payment of ,n(f@bladn@s9 secured heieby i;, ill the ptiOw :,", I• i0 .ii,y ,iillee•n 1,1
<br />r,wou+ arj, Grl any such r!alauit. f3anallGlary may at any time wllhuut reoti(:@, ellh$# in parson . by agent, u, t" ,el: eivvr lit hr: by Vie cut, I
<br />And wl(huui ,agard t Ile adnlitlar :y of any secumv fur th@ Inae 61amass sacumci heieby, enter upon aril I.A. p.>sbi.4s c -1 _1 , , I
<br />par{ t9!.@re(f make. (9"'. f I. i!r,fdr,r a fir modify lease%. obla,n and @fat:' I@na ,IS. set or ri- ady'milts In its t 111 ty % e , ( 11 t i h 15
<br />c4—if IMlits and p rf.,s Il,ii ,nclud,na Iho%@ past due and unpaid a ,d apply Ire$ %ante INSS (:USIS a j ( polite 1
<br />clue =njy reasu(,aws, silo neya feel upon any Indebtedness aeGWfd hereby and in such order as BaneliCla,y may 0.. ,. f 1 +t I •, - .e 1,
<br />l
<br />p cahyrn genel•c+af,y shall Y.ul he ',sure to any person 0O, ihs, Collection 0, noncolleci.on of any rants . incnn,a. issues or l l 1 s 1 - 1 . a $ 'o asst•' I
<br />or rpmwce a,,v of the fora ll,,.i,, , "I "Is nbr she" batblic,@fir t)* charged with any of the duties and obi,g$t,c s ,I a Innrlud(Dye r, I ns's •i ,.I qil t,••
<br />,'=g upon Array lasing pussess,ur, of ouch property, the co"ecito" of s"401 ,ents ,tit: rime. Issues fir pi f'ls 1"" 00"") of t n,r, a 14 r f ,.. I Ii, , „p,.l ,q: •...
<br />8
<br />It,* app4caliOn theraof as ato'ster.d. shall raft Cuts, Or "Ivs, any default (a nonce of default hef$urlllyr fir ir,v.li i.iai@ any .r• t ,I.i,r I, ,, sir,l i,I 1,! si, �,
<br />ngtr(, •
<br />{
<br />t d,
<br />it
<br />�_ A
<br />
|