|
2oosossio
<br />also assigns to Beneficiary, as further security for the performance of the obligations secured
<br />hereby, all prepaid rents and all monies which may have been or may hereafter be deposited with
<br />said Trustor by any lessee of the Froperty, to secure the payment of any rent, and upon default in
<br />the performance of any of the provisions hereof, Trustor agrees to deliver such rents and deposits
<br />to the Beneficiary. Delivery of written notice of Beneficiary's exercise of the rights granted
<br />herein, to any tenant occupying said premises shall be sufficient to require said tenant to pay said
<br />rent to the Beneficiary until further notice.
<br />9. Leased Premises. Within 10 days after demand, Trustor shall furnish to Trustee a
<br />schedule certified to be true, setting forth all leases of space in the Trust Froperty then in effect,
<br />including, in each case, the name of the tenants and occupants, a description of the space
<br />occupied by such tenant and occupant, the rental payable fox such space and such other
<br />information and documents with respect to such leases and tenancies as the Trustee may request.
<br />In the event Trustor is in default hereunder, without the prior written consent of Trustee,
<br />Trustor shall not, directly or indirectly, with respect to any lease of space in the described
<br />premises, whether such lease is now or hereafter in existence; (a) accept or permit any
<br />prepayment, discount or advance rent payable thereunder; (b) cancel or terminate the same, or
<br />accept any cancellation, termination or surrender thereof, or permit any event to occur which
<br />would entitle the lessee thereunder to terminate or cancel the same; (c) amend or modify the
<br />same so as to reduce the term thereof, the rental payable thereunder, or to change any renewal
<br />provisions therein contained; (d) waive any default thereunder or breach thereof; (e) give any
<br />consent, waiver or approval thereunder or take any other action in connection therewith, or with
<br />a lessee thereunder, which would have the effect of impairing the value of lessor's interest
<br />thereunder, on the Property subject thereto, or of impairing the position or interest of the Trustee
<br />or Beneficiary; or (f) sell, assign, pledge, mortgage or otherwise dispose of, or encumber, its
<br />interest in any such lease or any rents, issues or profits issuing or arising thereunder.
<br />10. Condemnation. If title to any part of the Property shall be taken in condemnation
<br />proceedings, by right of eminent domain or similar action, or shall be sold under threat of
<br />condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to
<br />Beneficiary who shall apply such awards, damages and proceeds to the sums secured by the
<br />Trust Deed, with the excess, if any, paid to the Trustor. Trustor will promptly, and with due
<br />diligence, repair, alter and restore the remaining part of the Trust Property to its former condition
<br />substantially to the extent that the same may be feasible and so as to constitute a complete and
<br />usable unit.
<br />11. Future Advances. Beneficiary, at Beneficiary's option, prior to reconveyance of
<br />the Property to the Trustor, may make future advances to the Borrower. Such future advances,
<br />with interest thereon, shall be secured by this Trust Deed when evidence by promissory notes
<br />stating that said notes are secured hereby; provided that at no time shall the secured principal,
<br />fiiture advances, not including sums advanced to protect the security, exceed one hundred
<br />percent (100%) of the original principal amounts secured hereby.
<br />4
<br />
|