|
$q ~v0722
<br />(a) to the costs and expenses of exercising the power of sale and
<br />of the sale, including, but not limited to, Trustee's fees of
<br />not more than lx of the gross sale price, reasonable attorney
<br />fees, and costs of title evidence;
<br />(b) to the Indebtedness; and
<br />(c) the excess, if any, to the person or persons legally entitled
<br />thereto.
<br />16. Trustor's Right to Reinstate. If Trustor, within one month of Lender's
<br />recocding of a notice of default under this Trust Deed, if the power of sale is to be
<br />exercised, shall pay to Lender
<br />(a) the entire amount then due under the terms of this Trust Deed
<br />and under the terms of the Indebtedness secured hereby, other
<br />than such portion of the Indebtedness as would not then be due
<br />had no default occurred (the demand notes referred to herein-
<br />above sha17. be deemed, for purposes of this Trust Deed and for
<br />purposes of this Paragraph 16, payable in full fot all purposes
<br />including reinstatement);
<br />(b) the costs and expenses actually incurred by Leader in enforcing
<br />the terms of this Trust Deed, including reasonable attorney
<br />fees, recording costs and title evidence costs; and
<br />(c) the Trustee's fee of $50.00 or one-half of I~ of the entire
<br />then unpaid principal balance, whichever is greater
<br />aad shall promptly cure all other Events of Defaul*_ Then exis*_ing under the terms of.
<br />this Trust Deed, all proceedings theretofore instituted shall be dismissed and dis-
<br />continued, this Trust Deed shall be reinstated and shall be and remain in force and
<br />effect as if no acceleration had occurred. Nothing contained herein shall impose
<br />upon Lender a duty or obligation to transmit to, or provide Trustor a copy of the
<br />notice of default beyond or in addition to that duty or obligation provided by appli-
<br />cable law, if any.
<br />17. Assignment of Rents; Appointment of Receiver; Lender in Possession. As
<br />additional security hereunder, Trustor hereby assigns to Lender the rents of the
<br />Property, provided that Trustor shall, prior to acceleration of the maturity of the
<br />Indebtedness or Trustar's abandonment of the Property, have the right to collect and
<br />retain such rents as they become due and payable.
<br />Upon acceleration of the maturity of the Indebtedness or abandonment of the
<br />Property, Lender, in Berson, by agent or by judicially appointed receiver, shall be
<br />entitled to enter upon, to take possession of and manage the Property and collect the
<br />rents of the Property including those past due. All rents collected by Lender or the
<br />receiver shall be applied first to payment of the cost of management of the Property
<br />and collection of rents, including, but not limited to, receiver's fees, premiums on
<br />receiver's bonds and attorney fees, and then to Indebtedness secured by this Trust
<br />Dead.. Lender and the receiver shall be liable to account only for those rents actu-
<br />ally collected and shall, in no event, be liable or accountable for a failure to
<br />procure tenants, to collect rents, to prosecute actions to recover possession of
<br />property or otherwise for any negligence or mismanagement.
<br />1&. Future Advances. Upon request of Borrower and without notice to or
<br />consent by Trustor, Lender, at Lender's option, prior to full reconveyance of the
<br />Property by Trustee to Trustor, may make future advances to Borrower. Such future
<br />advances, with interest thereon, shall be secured by this Trust Deed. At no time
<br />shall the secured princigal future advances, not including sums advanced to protect
<br />the security, exceed the total sum of $I,000,OOO.00_ Advances or disbursements made
<br />by Lender to protect the security, even though the same, under the terms hereof, are
<br />discretionary, shall not be deemed to be optional future advances.
<br />74. Reconvc~ance. Upon payment of all Indebtedness secured by this Trust
<br />Decd, Lender shall request Trustee to reconvey the Property and shall surrender this
<br />
|