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84002973
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Last modified
11/20/2008 4:18:11 PM
Creation date
11/20/2008 4:18:09 PM
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DEEDS
Inst Number
84002973
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<br />I <br /> <br />84 ~ 002973 <br /> <br />r <br /> <br />the same and for the purpose of performing any of the acts it is <br />authorized to perform under the terms of any loan instruments <br />executed by Trustor. <br /> <br />(a) Trustor shall have failed to make <br />payment of any insta Ilment of interest, <br />principal or principal and interest or any <br />other sums secured hereby when due; <br /> <br /> <br />10. 'l'ransferof propert~. If all or any part .of th!!'. '.' <br />property or any interest of Trustor therein is. sold, transfer'!;ilg> <br />or further encumbered without the express or written conlilentci9t~c <br />Beneficiary, Beneficiary may, at its sole option, dee[;araam;~ <br />sums secured by this Deed of Trust to bE! immedhtely dUe and:ip:~y;"" <br />able and proceed to the remedies available. to it unde:r.the <br />default previsions cont~ined herein. <br /> <br />11. Events of Default. Any of the following events: <br />be deemed an event of default hereunder: <br /> <br />(bl There has occurred a hreach of or <br />default under 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; <br /> <br />(cl 'rhere 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 /> <br />(d) Truator shall file a voluntary <br />petition in bankruptcy or !!tHill be adjudi- <br />cated bankrupt or insolvent, or shall make an <br />assignment for the benefit of credl tors in <br />respect to the property; or an actioJl to <br />enforce any lien or encumbrance or judgments <br />against the property is commenced. <br /> <br />12. Acceleration Upon Default. In the event of any dEl'fauJ.t, <br />Benef iClary may declare all indebu:;clness secured her.eby to be d"Ue <br />and payable, and the same shall thereupon become dUe and paya!:lle <br />without any presentment, demand, protest or notice of any kind. <br />Thereafter, Beneficiary may: <br /> <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 Ute adequacy of any security, <br />enter upon and take possession of the prop- <br />erty, or any part thereof, in its own name or <br />in the namE! of the Trustee, and do any acts <br />which it deems necessary and rlesirable to <br />preserve tne value, marketability or rent- <br />ability of the property, or part thereof or <br />interest therein, increase the income there- <br />from or protect the security hereof and, <br />without takinq possession of the property, <br />sue for or otherwise collect the rents, <br />issues and profits thereof, includinq those <br />past due and unpaid, and apply the same, less <br />costs and expenses of operation and collec- <br />tion, including attorney fees, upon any <br />indebtedness secured hel'eby, all in such <br />order as Beneficiary roay determine, The <br />enterinI,J upon anQ taking possession of the <br />trust estate, the collection of such r,;;,nts, <br />issues and profits and application thereof as <br />atoreaaid Shilll not curQ or waive any dl'ilfault <br />or notice of detalll t hCJ;.'eunder or inva 1 idate <br />llny act and in response to such detau} t or <br />pursuant to such notice of default and, not- <br /> <br />-3- <br />
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