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<br />5.05 Reconveyanct by Trustee. Upon written reques[ of Beneficiary stating that atI sums secured hereby
<br />have been paid, and open surrender of this Deed--of Trust and ehe Note-to Trustta for cancellation and retenticn
<br />and upon payment by Trustor of Trustee's fees. Trustee shall rcconvey to Trustor, or the person or persons legally
<br />entitled thereto, without warranty, any portion of the Trust Estate then held hereundtt. The reci~als in such
<br />reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof.-she granter in any
<br />rcconveyance may be described as "the person ar persons legally Intl*.led thereto"_
<br />5.06 Notices. Whenever Beneficiary, Trustor or Truster_ shalt desire to give or serve any notice, demand,
<br />request or other communication with respect to this Deed of Trust, each such notice, demand, request or other
<br />communication shall be in writing and shall be effective Doty if the same is delivered by personal service or
<br />mailed by registered mail, postage prepaid, return rr_eipt requested, addressed to the address set forth at the
<br />beginning of this Deed of Trust. If iEtna Lift Insurance Company is the Beneficiary, any such notice, demand,
<br />request or other communication to it shall indicate, "Attention: Real Estate Investment Department." Any party
<br />may at any time change its address for such notices by delivering or mailing to the other parties hereto, as
<br />aforesaid, a notice of such change.
<br />SA7 Aecepiance by Tru_ctee. 'trustee accepts this Trust when this Deed of Trust, duly executed and
<br />acknowledged, is made a public record as provided by law.
<br />S.Og Captions. The captions or headings at the beginning of each Section hereof are for the convenience
<br />of the parties and are not a part of this Deed of Trust.
<br />5.04 Invalidsty of Certain Provisions. If the lien of this Decd of Trust is invalid or unenforceable as to
<br />any part of the deft[, or if the lien is invalid or unenforceable as to any part of the Trust Estate, the unsecured or
<br />partially secured portion of the debt shat! be completely paid prior to the payment of the remaining and secured
<br />or partially secured portion of the debt, and all payments made un the debt, whether voiurtary e: •_nder
<br />foreclosure or other enforcement action or procedure, shall be considered to have been first paid on and applied
<br />to the full payment cf that portion of the debt which is not secured or fully secured by the lien of this Deed of
<br />Trust.
<br />x.10 Subrogation. Tu the extent that proceeds of the Note are used ro pay arse outstanding lien. charge er
<br />prior encumbrance against the Trust Estate. such proceeds have hero or will he advanced by Beneficiary at
<br />Trustee's request and Beneficiary shall he suhrogat?d te: any and all rights and liens held hp am owner ur holder
<br />of such outstanding liens, charges and prior encumbrances, irrespective of whether said liens, charges or en-
<br />cumbrances are released.
<br />5.1 1 Construction Mortgage. If this Deed of Trust is a construction mortgage, it secures a loan incurred
<br />0.i finance the cons[.-action of Improvements on [he Property including the acquisition cost cf Property and cer~
<br />lain costs incurred in planning, architectural and engineering studies, zoning and similar expenses. tt is un-
<br />derstood and agreed that funds to be advanced upon the Nutt art to be used in the construction of such im-
<br />provements on the Property in accordance with the Loan Agreement, which Loan Agreement is incorporated
<br />herein by reference to the same extent as if fully set forth herein and made a part of this Deed cif Trust. This Deed
<br />of -f rust secures the payment of all sums and the pertbrmance of all covena•us required by Trustor by said Lean
<br />Agreement, ezcep[ that upon assignmen. of this Deed of Trust tc :£tna Life Insurance Company i".iina"7. ,£tna
<br />shall have no obligation. responsibility ._r liahi(ity fur the covenants, w'arran[ies o, rtprest.^.tations cc.^.taired in
<br />said Loan Agreement.
<br />5.12 No Merger. If Guth the Lessor's and Lessee's [states under any lease ur any portion thereof which
<br />constitutes a part of the Trust Estate shall at any time become eesced m one owner, this Deed of Trust and the
<br />Lien created hereby shall not bt destroyed or terminated by application of the doctrine of merger and, in such
<br />event, Btneficiary shall eonunue to have and enjoy all o` the rights and pnvileges of Beneficiary as to the
<br />separate [states. In addinan, upon the foreclosure of the iitn created by this Deed of Trust on the Truss Estate
<br />pursuant to the provisions hereof, any !rases ur subleases then existing and created by Trustor shalt nut be
<br />destroyed or terminated by application of the law of merger or as a matter of law or as a result of such foreclosure
<br />unless Beneficiary or any purchaser at any such foreclosure sale shall so elect. Nn act by or un behalf of
<br />Beneficiary or any such purchaser shall a>nstitme a termination of any lease or sublease unless Btneficiary ur
<br />such purchaser shall gyve written notice ihereut ai such tenant or subtenam.
<br />5.7.3 As used herein, the word "Trustor" shall mean one one or more of Trustor, any general
<br />partner of any partnership which may own legal title to the 'Trust Estate or any part thereof. t;um time
<br />to time any owner or owners of legal title to the Trust Estate of ar,~ pare. thereof, from ume to time,
<br />and rho beneficiaries of any trust watch may own such legal title from time to time,
<br />5,14, In addition to the events of default specified t~tder 4rticle l~r, fiction
<br />4.0;. of this Deed of Trust, (i) the sale, transfer or conveyance (includit~ sale by
<br />land contract) of the Trust Estate or any part `hereof, without the prior written
<br />consent of the 73eneficiary, shall be t~ttsidered an even~waf tie£I,--~st Deed
<br />of Trtast, and (ii) a default tuuier the tents and provisions of any License= Agvee-
<br />tt7ettC and a.ty amendments thereto, in existence, from time to time betwe,,Tris~or
<br />or its assigns .and Holiday Inns, Inc., a Tetutessee corporation, with respect to the
<br />operation of a "Holiday Inrt Nbtel" franchise ;within or upon the Property or any
<br />part thereof shall be considered an event of default under this Deed of Trust.
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