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84001970
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Last modified
11/18/2008 11:57:06 PM
Creation date
11/18/2008 11:56:50 PM
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DEEDS
Inst Number
84001970
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"~~`~"' 001970 <br />profits to Beneficiary. Beneficiary, however, hereby consents to <br />Trustor's collection and retention of such rents, issues and <br />profits as they accrue and become payable, so long as Trustor is <br />not, at such time, in default with respect to payment of any <br />indebtedness secured hereby, or in the performance of any agree- <br />ment hereunder. If any event of default described hereafter in <br />respect to this Deed of Trust shall have occurred and be° con- <br />ti ruing, Beneficiary, as a matter of right and without notice to <br />Trustor or anyone claiming under Trustor, and without regard"to <br />the valve of the trust estate or the interest of the Trustor <br />therein, shall have the right to apply to any court having juris- <br />diction to appoint a receiver of the property. <br />10. Transfer of Property. If all or any part of the <br />property ar any interest of Trustor therein is sold, transferred <br />or further encumbered without the express or written consent of <br />Beneficiary, Beneficiary may, at its sole option, declare all <br />sums secured by this Deed of Trust to be immediately due and p8y- <br />able and proceed to the remedies available to it under the <br />default provisions contained herein. <br />11. Events of Default. Any of the following events shall <br />be deemed an event of default hereunder: <br />(a- Trustor shall have failed to make <br />payment of any installment of interest, <br />principal or principal and interest ar any <br />other sums secured hereby when due; <br />(bl There has occurred a breach of or <br />default under any term, covenant, agreement, <br />condition, provision, representation or <br />warranty contained ir. this Deed of Trust, the <br />note or any other loan instrument secured <br />hereby; <br />!c? There has been a default by the <br />Trustor in the payment of any prior or subse- <br />quent lien or encumbrance in respect to all <br />or any part of the property; <br />(d) Trustor shall file a voluntary <br />petition in bankruptcy or shall be adjudi- <br />cated bankrupt or insolvent, or shall make an <br />assignment for the benefit of creditors in <br />respect to the property; or an action to <br />enforce any lien or encumbrance or judgments <br />against the property is commenced. <br />12. Acceleration tlpor. Default. Sn the event of any default. <br />Beneficiary may declare all indebtedness secured hereby to be due <br />and payable, and the same shall thereupon became due and payable <br />without an}~ presentment, demand, protest or. notice of any kind. <br />Thereafter, Aeneficiary may: <br />(a) either in person or by agent, with <br />or without bringing any action or proceeding, <br />or by receiver appointed by a court and with- <br />out regard to the adequacy o,`. any security, <br />enter upor. and take possessior~ of the prop- <br />erty, or any part thereof, in its own name car <br />in the name of the Trustee, and do any acts <br />which it deems necessary and desirable to <br />preserve the value, marketability or rent- <br />ability of the property, or part thereof or <br />interest therein, increase the incame there- <br />from or pxotect the security hereof ard, <br />without taking possession of the praperty, <br />sue for or otherwise collect the rents, <br />issues and Nrofits thereaf, includir.y }hose <br />past due and unpaid, ,and apply the same, ititss <br />casts and experses +~f operation and calier.- <br />tion, inc].udinct attorney fees>, u~;an .~r<y <br />
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