|
FLO 2sa5 (8-05)
<br />85, 004425 Pne3of4
<br />consent, waiver or approval thereunder or take any other action in connection therewith, or with a Isasas thereunder,
<br />which would haw the effect of impairing the value of lessor's Interest thereunder, on the Property subject thereto, or of
<br />impairing the position or interest of the Trustee or Beneficiary; or (f) sell, assign, pledge, mortgage or otherwfeedlapose
<br />Of. or encumber, its Interest in any such lean or any rents, issues or profits Issuing or arising thereunder.
<br />12. COMkW haNM If title to any part of the Property shall be taken in condemnation proceedings, by right of eminent
<br />domain or similar action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby
<br />assigned and shelf be paid to Beneficiary who shall apply such awards, damages and proceeds to the suns secured by
<br />the Treat Deed, with theexosts, if any, paid to the Truaor. Trustorwill promptly, and with due diligence, repair, allerand
<br />restore the remaining part of the Property to Its former condition subatantially to the etttentthat the same may be feaalble
<br />and so as to constitute a compl ft and usable unit.
<br />13• lttMtreAalvene s. Upon requaatofTrustor, Beneficiary. at Beneficiary's option, priortoreconwyanceof the Propertyro
<br />the Tnalor, may make future advances to the Tnator, Such future advances, with Interest thereon, ~be secured by
<br />thle Tfu$t Deed when svkts WW by promissory notes stating that said notsears secured hereby; provided ttatat notime
<br />shall the secured principal. future advances, not Including sums advanced to protect the security. exceed one hundred
<br />Percent (1W%) of the original principal Amounts secured hereby.
<br />14. Mwaln CtmoukNee. All remedies provided In this Trust Deed are distinct And cumulehw to any other fight or remedy,
<br />under this Treat Deed or afforded by law or equity, and may be exercised concumnthy. Independently or suognively.
<br />15 AoetlsraNerK RawAd W t ids. Upon default by Trustor in the payment of any indebtedness secured hereby or in the
<br />psrMrmAnee of arry,aprsematt hereunder, Beneficiary may declare all sums secured hereby imntedasely due and
<br />payable by delivery to Tnatee of written declaration of default. The Trustee del( how the power of ads of the Property
<br />and It Beneficiary dadres the Property to be sold. it shall deposit with Tnabe this Treat Deed and alf protnleApry now
<br />and documents evidsnekng expenditures secured hereby, and shall deliver to Trustee a w 211 n notice of dell" and
<br />eleotlon to cause to Property to be sold, and the Trustee in turn shall prepare a similar notipin the form regWred by few.
<br />which shelf be duty filed for record by Trustee.
<br />(a) AflertheiapeeofsuchtkMsenmyberequiredbylawfollowingthe recordationofseldnoticsofdshWt ,andnodaof
<br />default and notice of We hwing bon given se required by law, Trustee, without demand on Trustor, shelf self the
<br />Property on the dateand at tine tint and place designated in sold notice of sale, at public auction tothe highest bidder,
<br />the purchase price payable in lawful money of the United States at the time of sale. The person conducting the We
<br />may. for arty saute he deems axpedient, postpone the asle from time to time unto it shall be COnnplelwd and, in every
<br />such Caas, notice Of poepOnemmt OWN be glen by Public dOCIOnOw thereof by such person at the time and piece
<br />WO Witilroffold fWth* 01111110, PMvkl0d, it" WO I@ postponed for longer than am (1) day beyond the day I igrnaI in
<br />the notice of sale, nodoethersof MW be given in thesame manner as the original notice ofsale. TrLmftoelf execute
<br />and deliver to the purchaser this Geed conveying the property sold, butwithout any covenant or warranty, etpnsas, or
<br />implied. The recitals in the Deed of any matters or facts shat be conclusive proof of the truthfulnass fltenot Any
<br />person, inOk+ding Bennelfdnery, may Purchase at the axle.
<br />j; (b) V~ Trustee salts Pursuant to the powers hereln. the Trustee shill first apply the txxeeds of the e"to payment of
<br />thecoaftandaxPenssofexolf"O gthepowerOfsaleandOf the seal, includingthe payment oftheTnuefas 'sfeet and
<br />expennasaetwoy Incurred, which shill includeall attorneys fees uncured by the Trustee in the ren0ltionn ot hieduho
<br />and the Trustee WW be entitled to hire such attcmies as he may sea fit, including any firm with wwhWh Trustee may be
<br />aseociNW. and then to the items in subparagraph (c) in the order there stated,
<br />(c) After paying the items specified in subparagraph (b) it the sale is by Trustee, or the proper court and other Conn of
<br />foreclosure and sale if the "is is pursuant to judicial foreclosure, the proceeds of sale shall be applied in the order
<br />stated to the payment of:
<br />(I) Cost of any evidence of title procured in connection with such sale and of any revenue stamps.
<br />(Iii AN alxta then secured hereby;
<br />(Dt) The refn*tnder, if any, to the person legally entitled therao.
<br />Ifl. Omni" ate/ ObNfs*o a ef Tntsloc (a) The duties and obligations of Trustee snail be determined solely by the express
<br />provietorns of thte That Deed and Trustee shall not be liable except for the performance of such duties and obligations es
<br />are speOMCally asp forth hereto, and no implied covenants or obligations shall be imposed upon Trumse; (b) No
<br />fxONSIOns of this Trust Deed shall require Trust" to expend or risk his own funds, or otherwise incur any financial
<br />obligation in the Pefiormetceof Orly of its duties hereunder, or in the exerciseof any of its rights or powers, if it shat( have
<br />9raundt for believing that the repayment of such funds or adequate indemnity against such risk or liability is not
<br />nasOnaMymuredtoit;(cl Trustee may consult with counsel othis own Choosing and the advice of such counsel shall
<br />be fulf and CornplefeauthOMMIOn and protection in the respect of aryr action taken or suffered by it hereunder in good
<br />faith and fOUNWe thereon; (d) Trustee snail not be liable for any Action taken by him in good faith and reasonably
<br />bsllewd by him to be authOoltsd or within the discretion or rights of powOM COnWred upon it by this Treat Deed,
<br />17, Ad"s" la —111 h ayyl wdc Truslor, At 114411an60. will execute and deliver to In* Trustee, promptly upon demand,
<br />such Security instruments "may bat required by Trust". in form and substance satisfactory to Trustee, covering any of
<br />the Property cOnwyad by this Trutt Deed, which *"Unity instruments shalt be additional "Cunty for Trustoes faithful
<br />Pertwindri of All of the terms, covenants and conditions of this Trust Dead, the promissory notes secured hereby, and
<br />argr OthernCWtY instruments executed in connection with inns transaction. Such instruments snail be recorded or Illed,
<br />AM rerecorded and rONied, at Truorws expense.
<br />ts. Due on 111916. If the Trustor shall sell, convoy, transfer, or dispose of or further encumber the roof Prop" described in
<br />into Trust Dead securing the debt evidenced by the note, or any part of such Property, orany interest therein, or agree to
<br />dOso without the written Ctmsantof the DOWIClary being first obtained, the Beneficiary snail have the rign, a1 its option,
<br />to declare the anon tiaiAheeof the unpaid principal and accrued interest to be immediately due and payable and require
<br />PrOOW payment by Trustor. Failure to exercise such option shalt not constitute a waver of the right to exercise it In the
<br />event oft subasquernl Oefaun.
<br />Lfill. tMM..N.ttewrs
<br />(err In the OVIN any one or more Of nn* provisions contained in this Trust Dead, or the promissory note Or any other
<br />"CuritY irltirunnenl given in connection with this transaction shall for any mason be neld 10 be invaiid, illegal or
<br />unenforceable in any r"Peet, Such invalidity, illegality, Or unenlorceabdtty shall, at the option of 9enefictary, not
<br />*/fact any other provision of this Trust Deed, but this Trust 0911d shall be construed as d Ouch �nvatld, 410gal. or
<br />unenlorceable provision had never bean contained Wain or therein
<br />NfiMIA M 11%k t.°siia� kA�
<br />TQSiflaa a r �.l�aa
<br />0
<br />
|