|
85-- 003436 �
<br />0. AONNOrIei ash prateogert a fenefkdary'S SerA ty. Trustor shall make all payments of interest and principal and payments of any
<br />other charg", tea and expenses contracted to be paid to any existing INnholdero or prior beneficiaries under any prior deed of trust or mor-
<br />tgage before the data they are delinquent and promptly pay and discharge any and all other liens, claims or charges which may jeopardize the
<br />Security 0fantad herein. N Trustor falls to make any such payment or falls to Perform any of the covenants and agreements contained in thin
<br />to ad of Trust, or in any prior mortgage or dead of trust, or if any action or prooaedlnp Is commenced which materially affects Beneficiary's in.
<br />Trueior'A debts Y. Moludlnp, but not limited to, annlnent domain proceedings, or proceedings involving a decedent, or if Trustor falls to pay
<br />peneraiiy as they y Obligation then Beneficiary, at Beneficiary's option and without notice to or demand upon Trustor and
<br />without refo Prot ct e n horn arty helfp, IncI herwrWer, may make such appearances, disburse such sums, and take such action as Is
<br />rnegeSaary to Protect Beneficiary's Interest, SncliWing, but not limited to, disbursement of reasonable attorney's
<br />test or dOmprpmlse of any encumbrance, charge or lien, and entry upon the fees, that Trustor purchase, con -
<br />Procure insurance or to Pay texas. asasssmsots, or an other charges Property a make repairs, n the swot that Trustor shah fail s.
<br />Beneficiary May to
<br />_ _ Y rgen or to make any payments a existing prior Ilan holders or grap(iciarN shall
<br />Deems addlttiOW ranlr debtedrInsurance
<br />of Trustor secured by yh payment. Any amounts disbursed
<br />am u nts by Beneficiary eurownt to thin Paragraph i shill
<br />Truett# rotprwthlg payment thereof, and shall bear Interest from the date of disbursement at the rate Payable upon notice from Beneficiary to
<br />Or WWprincipal under the Blot union Payment of Interest at such rate would be contrary to apptcable law, in which event time to fmcunts shall bear in.
<br />� S NsIWe under applicable law. Nothing contained In thin Paragraph (t shall require Beneficiary to incur any expense
<br />7. AMlillrAseat sillllalMt Berneflclary shall have the right, power and authority during the continuance of this Deed of Trust to collect the reins,
<br />hmme. and Profile of the Property and of any personal property located thereon with or without taking possession of the property affected
<br />hereby absolutely and unconditionally assigns all such rents, issues and profits to Baeficary. Beneficiary, however, hereby
<br />coneatt to ten Truster's collection and retention of such rents, issues and profits as they accrue and become payable so long es Trustor is not,
<br />at
<br />any such
<br />Stich time, in default with respect to payment of any Indebtedness secured hereby, or in the performance of any agreement hereunder. Upon
<br />repast to ten ut, B* neficlary may at any time, either In person, by agent, or by a receiver to be appointed by a court, without notice and without
<br />adegwcy of any Security for the Indebtedness hereby secured (a) enter upon and take Possession of the Property or any part
<br />thereof, and In its own name lira for or otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the same,
<br />l ns Ber� expensasof operation and collection, Including reasonable attorneys fees, upon any indebtedness secured hereby, and in such
<br />Beneficiary may determine; (b) perform such acts of repair or protection as may be necessary or proper to conserve the value of the
<br />Property; (c) Vase the same or any part thereof for such rental, term, and upon such conditions as Its Judgment may dictate or terminate or ad-
<br />Jug
<br />Issues profits om Indebtedness Secured lease c1t hereby sshhalll not extend TruStor and
<br />PostponBeneficiary he due date of the Installment In
<br />nvent pay any application I root,
<br />Promo" note or change the amount of such installments. The entering esy fe as Provics0 f such said
<br />rents, issues and Profits, and the g Pon and taking possession ti the Property. re collection a torch
<br />application thereof as aforesaid, shall not waive or cure any default or notice of default hereunder, or invalidate
<br />anY act done pursuant to such notice. Trustor also assigns to Beneficiary, as further security for the Performance of the obligations secured
<br />hereby, aft prepaid rents and all monies which may have been or may hereafter be deposited with said Trustor by any lessee of the Property, to
<br />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
<br />rents and deposits to Beneficiary. Delivery of written notice of Beneficiary's exercise of the rights granted herein, to any tenant occupying said
<br />Premises Shall be sufficient to require said tenant to Pay said rent to the Beneficiary until further notice.
<br />a. coodamnagea If title to any part of the Property shall be taken In condemnation Proceedings, by right of eminent domain or similar action,
<br />or Mali be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to Beneficiary who shall
<br />apply such awards, damages and proceeds to the sum secured by this DOW of Trust, with the excess, If an
<br />�fnotice or other Information regarding Such actions or proceedings, Trustor shall give prompt wrtten�noticeuthereof tosBeneficiary.
<br />Mary shelf be entitled, at Its option, to commence, appear In and prosecute in Its own name any such action or proceedings and shall be
<br />enttNd to make any compromise or settlement In connection with any such action or proceedings.
<br />g. Mtaa4w Not Emckwise. Trustee and Beneficiary, and each of them, shall be entitled to enforce payment and performance of any indebted-
<br />nine Or obligations secured hereby and to exercise all rights and Powers under this Deed of Trust or under any other agreement executed In con.
<br />rectfon herewith or any laws now or hereafter In force, not - withstanding some or all of the such Indebtedness and obligations secured hereby
<br />may ^ow or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance
<br />of this Deed of Trust nor is enforcement whether by court action or pursuant to the power of Sale or other powers herein contained, shall
<br />Prejudice or in any manner affect Trustee's or Beneficiary's right to realize upon or enforce any other security now or hereater held by Trustee or
<br />Beneficiary, It being agreed that Trustee and Beneficiary, and each of them, shall be entitled to enforce this Deed of Trust and any other security
<br />now or heraaher hold by Beneficiary orTrustee in such order and manner as they or either of them may In their absolute discretion determine. No
<br />remedy d, but each Bred upon m reserved to Trustee or Beneficiary Is intended to be exclusive of any other remedy herein or by law provided or
<br />Permitted, test each shall De cumulative erW Mali be in addition to every other remedy given hereunder or now or hereafter existing at law or in
<br />equity or by statute. Every Power or remedy Provided hereunder this Deed of Trust to Trustee or Beneficiary or to which either of them may be
<br />otherwise entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or
<br />Beneficiary and either of them may pursue Inconsistent remedies. Nothing herein shall be construed as prohibiting Beneficiary from seeking a
<br />deficiency Judgment against the Trustor to the extent such action is Permitted by law.
<br />10. TratMar of the ff'fGM IY: AeeamPftm If all or any part of the property
<br />without 8WWfic P party or any interest therein i sold, transferred or conveyed a Trustor
<br />Of a purchase MafY s Prior written consent, excluding (a) the creation of lien of encumbrance subordinate to this Deed of Trust, (b) the creation
<br />money security interest for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint
<br />tenant or (d) the grant of any Nasshold Interest of three years or less not containing an option to purchase, Beneficiary may, at Beneficiary's op-
<br />tion, declare all the sums secured by this Deed of Trust to be immediately due and oavable. or cause the Trustee to file a notice of default.
<br />Beneficiary Mall have waived such option to accelerate if, prior to the sale, Transfer or conveyance, Beneficiary and the person to whom the
<br />Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Beneficiary and that the
<br />Int -M PAY" on the sums secured by this Deed of Trust shall be at such rate as Beneficiary shall request.
<br />11. AOe"I"A"At apart DoliaAk N medtas Baia. Upon default by Trustor In the
<br />Note, or any renewals, modifications or extensions thereof, or the payment of any Payment rIndebted Indebtedness securred hereby or in the perforrmance of
<br />any of the 00"Snef to Of agreements hereunder, Beneficiary may declare all sums Secured hereby immediately due and payable and the same
<br />Tq shall become ^ become due and Pay" without Presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may deliver to
<br />uW -a written declaration of default And demand for sale. Trustee shall have the power of sale of the Property and if Beneficiary decides the
<br />Property ls to be sold it shall deposit with Trustee this Dead of Trust and the Note or notes and any other documents evidencing expenditures
<br />Secured herabY OW Mali deliver to Trustee a written notice of default and election to cause the Property to be sold, and Trustee, in
<br />Propere a sWIW notice In the form required by law which shall be duly filed for record by Trustee. turn, sent
<br />(a) After the IuWe o/ such time as maybe required by law following the recordation of Notice of Default, and Notice of Default and Notice of
<br />Baia having been given as required by law, Trustee, without demand on Trustor, shall sell the Property in one or more parcels and in such order
<br />M Trwfor may determine Ott the dot and at the time and place designated in said Notice of Sale, at public auction to the highest bidder, the
<br />Purchase Price Payable in cash In lawful money of the United States at the time of sale. The Person conducting the sale may, for any cause he or
<br />�she chime expedient, Postpone the Asia from time to lime until it shall be completed and, In every such case, notice of postponement shall be
<br />pibfie dwAUNbn thereof by such person at the time and place last appointed for the sale; provided, If the sale is otpon rrod for holler
<br />—(1) day ayorW the hay designated in the Notice of Sale, notice thereof shall be given In the same manner as the original Notice of Sale.
<br />Tsetse sholf execute and deiiwr to the purchaser its Deed conveying the Property so sold, but without any covenant or warranty, express, or
<br />if^PWed- The efiNN in the Deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, Including without
<br />fhfnftatiori Beneficiary or Trustee. may purchase at the Sale.
<br />(fq When Treolee lolls pursuant to the powers herein, Trustee shall apply the proceeds of the sate to Payment of the costs and expenses of
<br />In U. "the Power of sale and of the Sale, Including, without limitation, the Payment of Trustee's' Des incurred, which Trustee's Fees shall not
<br />In the apprapat aKOW the folIOWJn9 amounts iaA u P y
<br />thereof; wW then to the Items set forth In subparagraph c heereof In the order therein stated. remaining unpaid: 5 percentum on the Glance
<br />( )
<br />ti
<br />
|