85004469 - Laserfiche WebLink

Browse

L 855-- 004469' said Beneficiary, or said amount, or any portion thereof, maybe released to the Trustor. In any such event neither the Trustee nor the Beneficiary shall do obligated to see the proper application thereof; nor shall the amount so released or used be deemed a payment on any indebtedness secured hereby. Such application, use, and /or release shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. Any unexpired insurance and all returnable insurance premiums shall inure to the benefit of, and pass to, the purchaser of the property 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 of foreclosure, all right, title and interest of Trustor in and to the proceeds of fire and other insurance policies lot damage prior to the sale, which pro- ceeds are not received prior to the date of said sale, shall belong to Beneficiary. 6. Taxes and Other Sums Ds*: To pay, satisfy and discharge, at least ten 1101 days before delinquency, all general and special taxes and assessments affecting such property, and in no event later than the date such amounts become due: 111 aN encumbrances, charges and liens, with interest. on such property, or any part thereof, which ate, or appear to Beneficiary to be prior to or superior hereto, 12) all costs. fees and expenses of this trust. whether or not described herein, 13) lees or charges for any statement regarding the obligation secured hereby in any amount demanded by Beneficiary, not to exceed the maximum amount allowed by law therefor at the time when such request is made, (4) such other charges as the Beneficiary may deem reasonable for services tendered by Beneficiary and furnished at the request of Trustor or any successor in interest to Trustor, 15) it such property includes a leasehold estate, all payments and obligations required of theTrustor,or his successor in interest, under the terms of the instrument or instruments creating such leasehold. Trustor hereby agreeing not to amend, change, or modify his leaselrold interest or the terms on which he has such leasehold interest, or to agree to do so, without the written consent of Beneficiary being first obtained, (61 all payments and monetary obligations required of the owner of such property under any declaration of covenants, conditions and restrictions pertaining to such pro- perty or any madilicotion thereof. Should Trustor fail to make any such payment, Beneficiary, without contesting the validity or amount, may elect to make on advance such payment, together with any costs, expenses, fees or charges relating thereto, including employing counsel and paying his reasonable fees. Trustor agrees to notify Beneficiary immediately upon receipt by Trustor of notice of any increase in the assessed value of such pro. perty and agrees that Beneficiary, in the name of Trustor, may contest by appropriate proceedings such increase in assessment, In the event of the passage of any taw deducting from the value of real property for the purposes of taxation any ken thereon, or changing in any way the laws for the taxation of deeds of trust or debts secured by deeds of trust for state or local purposes, or the manner of the collection of any such taxes. so as to affect this Deed of Trust, tiro holder of this Deed of Trust and of the obligations which it secures shall have the right to declare all SLIMS secured hereby due as of a pale to be specified by not less than 30 days' written notice to be given to Trustor by Beneficiary; provided, however, that such election shall be ineffective if Tlustof is permitted by law to pay the whole of such tax in addition to all other payments required hereunder and d, prom to such spec8ued date, does pay such tax and agrees to pay any such tax when hereafter levied or assessed against such pro- perty S. Sums A*vww" to Mw interest: To pay immediately upon demand any sums advanced or paid by Beneficiary or Trustee under any clause or pro vision of this Deed of Trust Any such suns. unlrl so repaid shall be secured hereby and bear interest from the dale advanced or paid at the some rate as on Promissory Note :-rt slian be secured by this Deed of Trust. T. Asiallie rill d Oaswshs: That as further additional security if this be a construction loan, Trustor hereby transfers and assigns to Beneficiary dur- ing continuance of !hose Trusts, all right, title and interest to any and all monies deposited by Trustor or deposited on behalf of Trustor with any city, county, public body of agency, sanitary district, gas and /on electric company, telephone company and any other body or agency, for the installation or to stcme the nstalation of any utility by Trustor, pertaining to such property. S. Fog we of Tr~ to Com01y with Dead of Trust: Should Trustor fail to make any payment, or to do any act as provided in this Deed of Trust, of fad to perform any obligation Secured by this Deed of Trust, or do any act Trustor agreed not to do. Trustor shall be in default under this Deed of Trust - Benafecrary. but without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof and without contest" the validity or amount of the same, may let make or do the same in such manner and to such extent as it may deem necessary to protect the security hereof, Beneficiary being authorized to enter upon such property for such purposes, and (b) pay. purchase, contest or com- prom" any encumbrance, charge or lien, which in its judgment is of appears to be prior or superior hereto, and fc) in exercising any Stich power, pay necessary expenses. employ counsel and pay his reasonable fees. Trustor agrees to repay any amount so expended on demand of Beneficiary. IT IS MUTUALLY AGREED THAT: S. Litigetion: Trusts shall defend this Trust in any action or proceeding purporting to affect such property, whether or not it effects the security hereof, or purporting to affect the eights or powers of Beneficiary or Trustee, and shall file and prosecute all necessary claims and actrons to prevent at recover for any damage to or deslwction of such property, and either Trustee or Beneficiary is hereby authorized, without obligation so to do, to commence, appear in or defend any such action, whether brought by or against Trustor. Beneficiary or Trustee, or with of without suit, to exercise or enforce any other right. remedy or power available or contacted hereunder, whether or not judgment be entered in any action of proceeding; and Truster at flenefociary may appear at intervene in any action of proceeding, and retain counsel therein; and take such action therein, as either may be advised and may settle, compromise or pay the same or any offer claims and. in the behalf and for any of said proposes, may expand and advance such sums of money as either stay deem necessary. Whether or not Truster so appears or defends, Trustor on demand shall pay all costs and ex- penses of Beneficisry and Trustee, including costs at evidence of title and attorney's lees in a reasonable sum, in any such @clean or proceeding in which Benaliciaty at Trustee may appear by virtue no being made a party defendant or otherwise and wespeclive of whether the interest of Beneficiary or Trustee in such property is directly questioned by Such action, including but not limited to any action for the condemnation or partition of such property 10. Cenderratelion: All sums due, paid of payable to Trustor, or any successor rm interest of Trustor, whether by way of judgment. settlement or otherwise, (a) for injury or damage to such property, at (b) in connection with any condemnation for public use or injury to such property or any part thereof, w (e) on connection with the transaction financed by the loan secured hereby, or ldi #rising out of all causes of action, whether accruing Wore as alter the date of this Deed of Trust, sounding in tor( or contract, including causes of action for fraud or concealment of a material fact, together with the settlements, proceeds, awards and damages, direct and consequential, in connection therewith, are hereby absolutely and e revocably assigned and shell be paid to Beneficiary, Beneficiary shall be entitled, dI Its option, to commence, intervene in, appear in and prosecute in its own name, any action or proceeding, or to make any compromise or settlement. in connection with any such taking of damage. Trustor agrees to e■ecuta such further assignments of any compensation, award, damages, rights of action and proceeds as Beneficiary may tequine. AN amounts received by Beneficiary pursuant to this Deed of Trust under any lire or other Insurance policy, In connection with any condemnation for public use of or injury to such property, for injury or damage to such property or in connection with the transaction financed by Ilia loan secured haraby we to be applied, at the option of Beneficiary, upon any indebtedness secured hereby. No such spplication, use or rains* shall cure or waive any default. or notice of default, hereunder or invalidate any act done tiirsuant to such notice. 11, Ceteort4 Partial Itetonveyance, Etc.: That at any time, or from time to time, without liability therefor, and without notice, upon written request of Beneficiary, and without affecting the personal Ifabil,ly of any person for payment of the indebtedness sectored hereby, or the hen of this Deed of Trust upon the remainder of Such properly for the full amount of the indebtedness then or thereafter secured hereby, or the rights or powers of the Beneficiary at the Trustee wish respect to the cemainder of Stich property, Trustee may (a1 reronvey any pail of such properly. 161 consent to the making o) any map or plat thereof, (cl join in granting any easement thereon, or fool join to any extension agreement of any agreement subordinating the ken or charge hereof 12. Full Roeonvoyanse; That, upon written request of Beneficiary stating that all sums secured hereby have been paid. Trustee shall reconvey, without warranty. the properly then held hereunder. The recitals ors such (@conveyance of a iv matters of fact shell he conclusive proof of the truthfuatasm thetaol. The gtonte# in such reconveyance stay he designated as 'tie prison or persons legally entitled thelelo." Such request and neconvoyance shall operate as a reassigornenl of the rents, income, issues and profits hereinhelore assigned to Beneficiary. 13. AV" to Coffees and Receive Rents and Profits: Nutwdhstanding any cdhet poovoloons haueol, Beneficiary hereby grants peomission In Tiusto, to collect end relent the rents, income, issues and piofds of such property as they become (floe and payable, huf reserves Ilia light to revoke such pun mission as any time. with at w(fhord cau41, by nofrce in wilting to Tiostot, nailed to Inrstnt at tus Iasi known address In any event, such pernitstion to Trustor automatically shah be $evoked upon default toy Trusmr in paynlant nl mdPblPdness p @cured hereby or It the psi tormance of env agreement rer11M1dar On any such defe tit, Baneficisty may at any time without nolece. Pflhef m person, by silent, or by receiver to lie appointed by the court, and without regard to the adequacy of any 4 0cumv for the indoobledneea amf :urood hereby, enter brit fold tak11111194CSa1011 of Such property. Or any part thworco, make, canal, enfnrca On modify Inans, otnam and elect IensfA a, set or nlndily tents, in Its own name sue no olherwa@ collecl the rents, Ix.ome,'salsa and profits thermal, including those past due all() unpaid. and apply the Same. legs costs and expenses sal ooeiahurl and collection, in cko" !nameable art,onev's fops, upon any HldehlednesS sectored hereby pool In such order as Bpnplu in,y tiny dPienn nor and except lot such ap ppin aleon.'.Mef Mlar y Outs not be feeble to any per flon for the f. rllrc l,nrl fit nonc Alec lion of any IPM 4, eflr nnip. y4 eie9 or two slots, Is* fie fallutit In a9ser,t of *.#or(* any rat the rapgnatg rights, nor shall nenpfir,la,y hp charged with any rf 1he duxes and nhhgat of of a -i Magee ui pn9sessfnn The Peter g eipnn end taking pn99esawn nl rotor., -h llfnpeety lion rolle('t,1n (It Sift'. 1, rp oo, n('nn)P 14411e4 err 1110hf9, file dn,nll Of Othrol 11('19 hefeln etdholred, pod tl,e atitltN'. aif)r. Ihpl p!,f a9 afmor,f/d. 41,81, lint ,'lire too waive fitly deleuh of form,'" of defatlll heirtlnl let of ,nvalldale v,v Aft done pnf9n8re1 In 41,'11 R x >> r�