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84005497
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1984
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84005497
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Last modified
11/20/2008 10:01:44 PM
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11/20/2008 10:01:44 PM
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DEEDS
Inst Number
84005497
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<br />I <br /> <br />84 -- 005497 <br /> <br />9. Transfer of Property. If all or any part of the <br />property or any interest of Trustor therein is sold, transferred <br />or further encumber~d without the' express or written con;;~t of <br />Beneficiary, Beneficiary may, at i tssole option, declare all <br />sums secured by this Deed of Trust to be immediately due and pay- <br />able and proceed to the remedies available to it under the <br />default provisions contained herein. <br /> <br />10. Events of Default. Any of the following events shall <br />be deemed an event of default hereunder: <br /> <br />fa) Trustor shall have failed to make <br />payment of any installment of interest,. <br />principal or principal and interest or any <br />other sums secured hereby when due; <br /> <br />(b) There has occurred a breach of or <br />default under any term, covenant, agreement, <br />condition, provision, representation or <br />warranty contained in this Deed of T:rust, the <br />note or any other loan instrument secured <br />hereby; <br /> <br />(c) There has been ::>. default by the <br />Trustor in the payment .'." ..ny prict" or subl!!e- <br />quent lien or C'nC~1l'.b:t..::',ce in respect to all <br />or any part of the property; <br /> <br /> <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 /> <br />11. Acceleration u~n Default. In the event of any default, <br />Beneficiary may declare a 1 indebtedness 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 />L <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 the adequacy of any security, <br />enter upon and take possession of the prop- <br />erty, or any part thereof, in its own name o~ <br />in the name of the Trustee, and do any act. <br />which it deems necessary and desirable tQ <br />preserve the 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 taking possession of the property, <br />sue for or otherwise collect the rents, <br />issues and profits thereof, including 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 ~ny <br />indebtedness secured hereby, all in such <br />order as Beneficiary may determine. The <br />entering upon and taking possession of the <br />trust estate, the collection of such rents, <br />issues and profits and application thureof as <br />aforesaid shall not cure or waive any default <br />or notice of default hereunder or invalidate <br />any act and in response to such default or <br />pursuant to such notice of default and, not- <br />withstanding the continuance in possession of <br />the property or the collection, receipt and <br />application of rents, issues or profits, <br />Trustee or Beneficiary may be entitled t.O <br />exercise every right provided for in any of <br /> <br />-)- <br /> <br />.. <br />
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