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<br />005508
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<br />(c) Trustor will pay, from time to time when the same shall become
<br />due, all lawful claims and demands of mechanics, materialmen, laborers, prior
<br />beneficiaries under any prior Deed of Trust or Mortgage, and others which,
<br />if unpaid, might result in or permit the creation of a lien on the Property or
<br />any part thereoit Ol~ on the revenues~ rents, issues, income and profits
<br />arising therefrom, and in general will do or cause to be done evel"ything
<br />necessary so that the lien hereof shall be fully preserved, at the sole cost of
<br />Tr-ustor ~ without exnense to Trustee or Benenciarv.
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<br />1.06. Conversion of Security. All right, title and interest of Trustor
<br />in and to all extensions, improvements, betterments, renewals, sUbstitutes
<br />and replacements of, and all additions and appurtenances to the. Property,
<br />hereafter acquired by, or released to, Trustor or constructed, assembled. or
<br />placed by Trustor on the Premises, and all conversions of the security con.,.
<br />stituted thereby, immediately upon such acquisition, release, construction,
<br />assembling, placement or conversion, as the case may be, and in each such
<br />case, without any further deed of trust, conveyance, assignment or other act
<br />by Trustor, shall become subject to the lien of this Deed of Trust as fully
<br />and completely, and with the same effect, as though now owned by Trustor
<br />and specifically described in the granting clause hereof, but at any and all
<br />times Trustor will execute and deliver to Trustee any and all such further
<br />assurances, deeds of trust, conveyances or assignments thereof as Trustee or
<br />Beneficiary may reasonably require for the purpose of expressly and spe-
<br />cifically subjecting the same to the lien of this Deed of Trust.
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<br />1.07. Security Agreement. T' ..IC extent ..!lowed by the Governing
<br />Jurisdiction's Uniform COhlmercial ("uut!, this Deed of Trust shall be self'-
<br />operative and constitute a Security Agreement with respect to the !>ersonal
<br />Property, Improvements, Rents and Profits, Insurance Proceeds and Condem-
<br />nation Proceeds, Voting Rights, Permits, Licenses, Approvals and Agree-
<br />ments, Plans and Specifications, Architect's Agreement, General Contractor's
<br />Agreement, Purchase Agreements, Rental Pool Agreements and Management
<br />Agreement. Trustor hereby agrees to execute and deliver on demand and
<br />hereby irrevocably constitutes and appoints Beneficiary the attorney-in-fact
<br />of Trustor, to execute, deliver and, if appropriate, to file with the appro-
<br />priate riling officer or office such security agreements, financing statements
<br />or other instruments as Beneficiary may request or require in order to impose
<br />or perfect the lienor security interest hereof more specifically thereon.
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<br />1 .08. Assilmment . of Rents and Profits, {a) BeneficiaJ.'v !t.TJ.d Trustee
<br />shall have the right. power and authority during the continuance of this Deed
<br />of Trust to collect the Rents and Profits of the Property and of any personal
<br />property located thereon with or without taking possession of the Property
<br />affected hereby, and Trustor hereby absolutely and unconditionally assigns
<br />all such Rents and Profits to Beneficiary, including the Rent and Profit of
<br />the real estate described in Exhibit "A" attached hereto. Beneficiary, how-
<br />ever. hereby consents to the Trustor's collection and retention of such Rents
<br />and Profits as they accrue and become payable so long as Trustor is not, at
<br />such time, in default with respect to payment of any indebtedness secured
<br />hereby. or in the performance of any covenant or agreement hereunder and
<br />so long as all Rent and Profits are remitted to Beneficiary and held by Bene-
<br />ficiary per request and applied to the monthly payment under the Note.
<br />Upon any such default, Beneficiary may at any time, either in person, by
<br />agent, or by a receiver to be appointed by a court, without notice and
<br />without regard to the adequacy of any security for the indebtedness hereby
<br />secured, (a) enter upon and take possession of the Property or any part
<br />thereof. and in its own name sue for or otherwise collect such Rents and
<br />Profits, including those past due and unpaid, and apply the same, less costs
<br />and expenses of operation and collection, including reasonable attorneys fees,
<br />upon any indebtedness secured hereby, and in such order as Beneficiary may.
<br />determine; (b) perform such acts of repair or protection as may be necessary
<br />or proper to conserve the value of the Property; (c) lease the sallle or any
<br />part thereof for such rental, term, and upon such conditions as its judgment
<br />may dictate. Unless Trustor and Beneficiary agree otherwise in writing. any
<br />application of Rents or Prof:.ts to any indebtedness secured hereby shall not
<br />extend or postpone the due date of the payments as provided in the Note or
<br />change the amount of such payments. The entering upon and taking posses-
<br />sion of the Property, the collection of such Rents Ilnd Profits, Bnd the
<br />application thereof as aforesaid, shall 110t waive or cure any default or notice
<br />of default hereunder. or invalidate any act done pursulillt to such 110tice.
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