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<br />00471.9
<br />SO as to affect this Deed of Trust, the entire Indebtedness secured hereby shall at the option of the Beneficiary
<br />became due and payable; (c) to keep the above - described Property and the Improvements thereon in good condition
<br />and repair and not to commit or suffer waste thereof, and except as authorized In any schedule annexed hereto and
<br />forming a part hereof, neither to remove nor permit the removal of any timber, buildings, oil, gas, minerals,
<br />stone, rock, clay, fertilizer, gravel or top soil without the prior written consent of Beneficiary; (d) to
<br />maintain and deliver to Beneficiary policies of insurance against such hazards on the buildings and improvements
<br />now or hereafter located on or constituting a part of the Property as the Beneficiary shall require, in such
<br />companies and amounts and with such loss payable clauses as shall be satisfactory to the Beneficiary; that in the
<br />event of loss, Beneficiary is expressly authorized to settle or compromise claims under said policies and the
<br />proceeds thereof shall be paid to the Beneficiary who may apply the same or any part thereof on the Indebtedness
<br />secured hereby or toward the reconstruction or repair of said buildings and improvements or release Same to the
<br />Trustor; (e) to pay any Ilan, claim or charge against the Property which might take precedence over the lien
<br />hereof; (f) to pay on demand all legal expenses, title searches, appraisal or attorneys' fees reasonably
<br />Incurred or paid by Beneficiary to collect the Note or foreclose or protect the lien of this Deed of Trust; (q)
<br />that In the event Trustor shall fall to comply with the provisions of (a) through (f) above, the Beneficiary may
<br />expend such funds and take such action as is necessary to remedy such failure and all sums paid by the
<br />Beneficiary pursuant hereto with interest at the rate hereinafter provided shall constitute a lien upon +he
<br />Property, shall be secured by this Deed of Trust, and shall be immediately due and repayable to the Beneflclary;
<br />(h) not to sell the Property or any portion thereof; or, If the Trustor is a corporation, not more than - %
<br />of its corporate stock shall be sold, traded, or disposed of to persons other than the present owners 31Fsu-ch
<br />stock prior to the time the Indebtedness secured hereby shall have been reduced (exclusive of prepayments other
<br />than as provided In the said Note) to f $$o • and in the event of any sale herein prohibited,
<br />then the entire Indebtedness secured by FTTs`Deead o rus s all, at the option of the Beneficiary, became due
<br />and payable; (1) that if the Property or any part or parcel thereof shall be taken or damaged under the power
<br />of eminent domain, the award for any Property so taken or damaged (Including severance damages to the remaining
<br />premises) shall be paid to the Beneficiary and applied in full or in part at the option of the Beneficiary in
<br />reduction of the indebtedness hereby secured; (I) that the Beneficiary shell have the rlght to inspect the
<br />Property at such reasonable times as the Beneflclary may desire to determine Trustor's compliance with the
<br />covenants contained in this'Deed of Trust; (k) that the Beneficiary may release from the lien hereof any part
<br />or parcel of the Property without requiring any consideration therefor, and (1) that Trustor 1s lawfully seized
<br />of said premises and Property in fee simple, that the same are free from all liens and encumbrances except as may
<br />otherwise be spec ifically noted herein or waived in writing by the Beret lclary: that Trustor will execute or
<br />procure any further necessary assurances of title and does hereby warrant generally the title to said Property
<br />and will forever defend the same against the claims and demands of all persons whomsoever, and that Trustor's
<br />separate estate, whether vested, contingent or In expectancy, is hereby conveyed and Trustor does hereby
<br />expressly waive, release all rights and benefl +s of any homestead, dower, curtesy, appraisement, exemption and
<br />stay laws of this state. It Is agreed that the interest provided for in subsection (q) above shall be at +he
<br />same rate as specified In the Note secured hereby on the principal thereof after default and maturity.
<br />SECOND: In the event Trustor, without the prior written consent of Beneficiary shall sell, transfer or
<br />convey or contract to sell, transfer or convey the Property, or any part thereof or any Interest therein, the
<br />entire balance of the indebtedness hereby secured shall become and be Immediately due and payable at the option
<br />of Beneficiary; provided, however, Beneficiary may waive such option to accelerate if, prior to such sale,
<br />transfer or conveyance or contract therefor, Beneficiary and the person to whom the property Is to be sold or
<br />transferred reach an agreement in writing that the credit of such person is satisfactory to Beneficiary and +ha+
<br />the interest payable on the sums secured by this Deed of Trust shall be at such rate as Beneficiary shall request.
<br />THIRD: That as further security for the payment of the Note and the Indebtedness *hereby evidenced and the
<br />performance of all of the terms, covenants and conditions hereof, Trustor agrees. that '.enefirfary shall and does
<br />hereby have the right, power and authority during the continuance of this Deed cl 'rust to collect the rents,
<br />Issues and profits of +he Property and of any personal Property located thereon witn or Without +ektnq possession
<br />of the property affected thereby; and Trustor hereby absolutely and unccndl+irn.ally as5Igns all such rents,
<br />Issues and profits to Beneflclary. Beneflclary, however, hereby consents to 'rustor's collectlon and reten +Inn
<br />of such rents, Issues and profits as they accrue and become payable so long as 'rustor is not at such +(me In
<br />default with respect to payment of any Indebtedness secured h- -shy or Ir the performance of any agrOknent
<br />hereunder. Upon any such default, Beneficiary may at any time, either In person, by agent, or by receiver to he
<br />appointed by a court, without notice And without regard to the adequacy of any recuri +y for the Indebtedness
<br />hereby secured (a) en +er upon and take possession of the Property cr any part thereof and in Its own name sue
<br />for or otherwise collect such rnnts, issues and profits, includind those past due And unpaid, and apply the same,
<br />less costs and expenses of opera-;on and collection, including reasonable attorney's fees, upon any indebtedness
<br />secured hereby and in such order as Beneficiary may determine; (b) lease the same or any part thereof for such
<br />rental, term and upon such conditions as Beneficiary's judgment may dictate or terminate or adjust the terms and
<br />herwise In writing, any
<br />application of rents, issues or profits to any indebtedness secured hereby shall n
<br />conditions of any existing lease or leases. Uniess Trustor and Beneficiary agree ott evtend or postpone the due
<br />date of the installment payments as provided In the Note cr change the amount e ot such installments. The entering
<br />upon end taking possession of the Property, the collection of such rents, Issues and profits, and the application
<br />thereof as aforesaid, shall not waive or cure any default or notice of default hereunder, or Invalidate any act
<br />done pursuant to such notice. Trustor assigns to Beneficiary, as further security for +he performance of the
<br />Indebtedness and obligations secured hereby, all prepaid rents and ail moneys which may have been or may
<br />hereafter be deposited with Trustor by any lessee of the Property, to secure the Payment of any rent or damages,
<br />and upon default in the performance of any of the provisions hereof, Trustor agrees +o deliver such rents and
<br />deposits to Beneficiary. Delivery of written notice of Beneflclary's exerclse of the rlahts granted by thls
<br />paragraph THIRD to any tenant occupying the Property or any portion thereof shall be sufticlent tiid
<br />tenant to pay said rent to Beneficiary until further notice. c requre sa
<br />FOURTH: It +here shall be filed by or against the Trustor any petltlon or proceeding seeking an arrangement
<br />or compos7tion or extension or any other relief under or pursuant to the Federal Bankruptcy Code or any other
<br />similar statute as now or hereafter in effect, or If the Trustor shall be adjudicated bankrupt or Insolvent or
<br />any of Trustor's property shall have been sequestered and such decree shall have continued undischarged and
<br />unstayed for 90 cat's after the entry thereof, then the whole of the Note and Indebtedness hereby secured shall,
<br />without notice• at the option of the Beneficiary, become due arid payable.
<br />FIFTht: Upon default by Trustor in the payment of or performance of the terms end conditions (if +he Note, .,r
<br />any reverals, modifications or executions thereof, the payment of any other Indebtedness secured hereby or In tilt,
<br />performance of any agreement. covenant or warranty herein contained or Set forth In any ngree.ment of Instrument
<br />Rxecuted by Trustor in connection with the Indebtedness hereby secured, Beneflclary may declare all sums 5err
<br />rureA
<br />eref,y iawradiete;y due and Payable and the so" shall thereupon become due and payable without presen +men +,
<br />h
<br />demamnQ, yrotest or notice of any kind. Thereafter, Beneficiary may deliver to Trustee a written declaration of
<br />default and demand for sale. Trustee shall have the power of sale of the Property and 11 Poneflrl&ry elerldns tier
<br />property Is to be Soig It shall deposit with Truster, this Deed of Trust and the Note nr nn +es and any other
<br />OM601*nts eviCehr,ing expenditures secured twrreby, and shall drrllyt +r to Trustee a written notice of fetnuif nn(,
<br />elocIllon to cause the Property to be sold, and Trustee, in +urn, she} I prepare a gImi lAr notice in +he Corm
<br />tOquired by law, which shall be duly filed for record by Trustee,
<br />es) After the Impse of such flaw as may be requ lreQ by law following file recordation of Nct(ce .,f
<br />f*faulf, and notice of Usfau ;t and Notice of Sale having been given as required by law, Trustees, without
<br />remand on Truster, shall sell the Property hereinbefor+. described, ,...; any enrf every pert fherea,f, In
<br />Worst* parcels or on masse as the Trustee may elfK4 and In such Order As Trustee may determine r,n elx.
<br />100 and at the time and place designated In said Ncrflrn ,f <ale, At PubIIc Auction ti, +he hlghe *.r
<br />bldder, the purchase prir...e payable In r,aah In lawful W"MY "I the !jolted States At +n,. time r•f Sales,
<br />pWVX, crndua : +lr.� ate 4Alemay. for any r: muse he � sIe rinems
<br />4 expe+<:lenr, r, �,.,tn•,rw. •r•.,. ,:,nla +r,v„ W
<br />t:a ur :fil It mhaif be r.anplefed Arid, In yvo,v much rase,
<br />;•ublle drtcl.aralk- theorec,f Iry sorb;1*11Q11 At thw -?me And 1",", fns! Aspoinr++r, • r .n. •.n ir•; c•I rk• +�
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