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84006635
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1984
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84006635
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Last modified
4/30/2008 5:02:29 PM
Creation date
4/2/2008 9:51:10 AM
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DEEDS
Inst Number
84006635
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<br /> <br />84- <br /> <br /> <br />sums secured by this Deed of Trust to be <br />able and proceed to the rllmlediea. available to <br />default provisions contained herein. <br /> <br />11 . Events of De fau I t. Any of the <br />be deeae<i an event of default hereunder.: <br /> <br />fa) Trustor shall have failed <br />any installment of interest. principal <br />interest or any other sums secured hereby <br /> <br />(b) There has occurred a breach: of or <br />under any term, covenant. aqreement.. condii: <br />sion, representation or warranty contai <br />of Trust, the note or any other loan instromeRt <br />hereby; <br /> <br />(c) There has been a default by the ~...... :la <br />the payment of any prior or subsequent lien or """'UIIW'""; <br />brance in respect to all or any part of the property, <br /> <br />(d) Trustor shall file it voluntary petition ill <br />bankruptcy or shall be adjudicated bankrupt or iasol98Rt.. <br />or shall make an assignment for the benefit of creditOrs <br />in respect to the property: or an action to enforce any <br />uJ..ij!!nQr encumbrance or tl1~~nts aqainst the pr~t~ <br />is cOl!l1'M!nced. <br /> <br />12. Acceleration u~n Default. In the event of any defMllt.. <br />Beneficiary may declare a I ~ndebtedness secured hereby to be due <br />and payable, and the same shall thereupon become due and payable <br />without any presentment, demand, protest or notice of any kind. <br />Thereafter, Beneficiary may: <br /> <br />la) either in person or by agent, with or without <br />bringing any action or proceeding, or by receiver <br />appointed by a court and without reqard to the adequacy <br />of any security, enter upon and take possession of the <br />property, or any part thereof, in its own name or in <br />the name of the Trustee, and do any acts which it deems <br />neces2ary and desirable to preserve the value, market- <br />ability or rentabilitv of the property, or part thereof <br />or interest therein, increase the income therefrom or <br />protect the security hereof and, without taking poases- <br />sion of the property, sue for or otherwise collect the <br />rents, issues and profits thereof, including those past <br />due and unpaid, and apply the same, less costs and <br />expenses of operation and collection, including attorney <br />fees, upon any indebtedness secured hereby, all in such <br />order as Beneficiary may determine. The entering upon <br />and taking possession of the trust estate, the collec- <br />tion of such rents, issues and profits and application <br />thereof as aforesaid shall not cure or waive any <br />default or notice of default hereunder or invalidate <br />any act and in response to such default or pursuant to <br />such notice of default and, not....ithstanding the continu- <br />ance in pOlili5ession of the property or the collection, <br />receipt andl application of rents, issues or profit.s, <br />Trustee or Beneficiary may be entitled to exerci5e <br />every right provided for in any of the loan instrttments <br />or by law upon occurrence of any event of default, <br />including the right to exerc~~e the power of s~le: <br /> <br />fbl C~l'lce an action to toreclol!le this Deed of <br />Trullit ,~s iii mortgage, ..ppoint <lI receh'er, or specifically <br />enforce any of the coverulIn'ts hereof: <br /> <br />~'cl deliver to Trustee ~ written decla.ntion of <br />dtlrf'.\lIult <IInd d4li\mand for !;;!Ile, dnd <1\ ",'ritten notice of <br />default ~nd election to ~<IIUle Trul!ltor's interest in the <br />propel'tv to ~ 1,01('. which notice 'rrl.lllltee 7"ha11 cause <br />to he duly fUed "or rl!tcord in the of!icii!ll l:"ec('TfI~ of <br />the cC:runtvin which the r>roj::>erty i!'l loc.!lt~d. <br /> <br />,,",1..... <br /> <br /> <br />-' <br />
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