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<br />84- 082184
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<br />absolutely and unconditionally assigns all such rents, issue.'ane!
<br />profit!! to Beneficiary. Beneficiary, however, hereby conHM1f'(to,
<br />Tnlstor's collection and retention of such rent#, i811de. arid'
<br />profi ts as they accrue and become payable, so 101\9 as 'l'XiatCJIi":.i.,*"
<br />not, at such time, in default with respect tOPA~oJ:,;~.Y:'
<br />indebtedness secured hereby, or in the performalk.~of/ alty' '
<br />ment hereunder. If any event of default descrlbedh8;
<br />respect to this Deed of Trust shall have ocou:r1fed a_'
<br />tinuing, Beneficiary, as a matter of rif!Jht and withOGt "
<br />Trustor or anyone claiming under Trustor, and witho~ req~~~~
<br />the value of the trust estate or the interest of the, 'l'ro.~~
<br />therein, shall have the right to apply to any courth.v1Jl'lfd~~...,,,
<br />diction to appoint a receiver of the property.
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<br />10. Transfer ,of Property. If all or any part of" tI:ie'
<br />property or any interest of Trustor therein is sold, transferred
<br />or "urther encumbered without the express or written cons.it.;Qf'
<br />Beneficiarv, Beneficiary may, at its sole option, declare,aJ.:"
<br />sums secured by this Deed of Trust to be immediately duean4;~'
<br />able and proceed to the remedies available to it under 1:lie"
<br />default provisions contained herein.
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<br />11. Bvents of Default. Any of the following events shaJ.:l
<br />be deemed an event of default hereunder:
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<br />fa) ?rustor shall have failed to make
<br />Clayment of any instal Jment of in~erest,
<br />principal or principal and interest or any
<br />other qums secured hereby when due:
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<br />(b) ",here has occurred a breach of or
<br />Jetault '.lnder any term, covenant, agreement,
<br />condition, provision, representation or
<br />warranty contained in this Deed of Trust, the
<br />note or any other loan instrument secured
<br />hereby;
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<br />Ie) There has been a r1efault by the
<br />Trustor 'n "'he payment of any prior or subse-
<br />quent lien or pncumbrance in respect to all
<br />or any part of the property 1
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<br />la) ~'r\lstor "hall file a voluntary
<br />'''Hitior. III ",ankruptcy or shall be adjudi-
<br />cated bankrupt or insolvent, or ghall make an
<br />aSS1Qnment "or ~he benefit of creditors in
<br />respec~ ~o the property; or an action to
<br />enfor'ee any lien or encumbrance oriudgments
<br />aqainst the property is commenced.
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<br />1? Acceleration l!~r oefaul t. Tn the event of any
<br />defaul~, Reneficial'Y ,,",av eel are all indebtedness secured hereby
<br />to be due nnd payable, 'and ~he same spall thereupon become due
<br />and payable without any presentment, demand, protest or notice of
<br />any kind. Thereafter, Reneficiary may:
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<br />fa) ~'ithpr :..n persoll '::r by ,""qent, with
<br />nr without hrinqlnq any action or oroceeding,
<br />or by rece1ver appointed by a court and with-
<br />out regard to the adequacy ,)f any secur i ty,
<br />enter upon and take possession of the prop-
<br />erty, "r nny part ~hereof, in 1 t s own name or
<br />in t.l!~ ::dnte of tht:!' "rustee, ctnCl r.io any ('lets
<br />which ,t deems necessary and desirabie to
<br />preset-v€; the value, marketahilitv 01" rent-
<br />ability of the property, or part' thereof or
<br />interest thennn, increase ~he in'~ome there-
<br />'rom or protect the secur 1 ty hereof ,}nd.
<br />'oil thout tak i nq IX>ssession ';){ the propertv.
<br />su@ for or otherwise t"ollect the rent'~,
<br />i!'<sues and profit!'> then:,nf, lnclud.\nq those
<br />past due lUHi \Jnpa.irl, and ~pply '~hf"' sftme, 1psS
<br />costs .find expenses (If 0peri\ti.nn -~nd '-oj )pc-
<br />tionf int'ludinq att.orney "f'lf"~, )'i-H:)f!. 'tHy
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