|
� � � _ .. -_ -_-'-`
<br /> `��`" --=--- -- • � •���m .
<br /> ..r.;... ,.:,�,,,,�•e�ui�`wbo'��.,�
<br /> �
<br /> Ilt.-.'
<br />. � ��
<br /> 96- �.Of��'
<br /> .I r
<br /> by owner'��nd operators of similsr propertiu and w� Benaficlary rn�y raqulre tor it�protactlun. 1'rustor wlil wmp y -
<br /> I with such other r�quirame{�to as Ben�ficlay may iram time co tlrne nqu�ti tor the protectlon hy iniur��cs of th� �_
<br /> interest of the ras�wctiv�p�rties. All insurance Roliciet m�intRinad pur�uRnt to thiz Daed of Truyt�hail nam�Trustor �.
<br /> an��M��'g�i_.� ..��.urcut, as thsir r�sQ�ctive i�tara:t mtY appeas an� provide th�t th�e ah�11 tse no�tceUtUon or =-
<br /> mott;f3cation witlwut fihear+ (15) deys pdor writtM not+ticetlon to Trustee a�d�senaiiciary, t�� ii�o 6'rdi► :.r�y;.�!!�, -_
<br /> _ � r•�=
<br /> „ I Iwreunder ic not ranewed on or betoro fittoe�115)day�prior to ito exRirstion date,Truoten or Be�oficiary may procure v
<br /> such irisusanca in accord�ncv with tha ptavisionc of Paraprsph 7. Truotor sholl deliver to Benuficlary the origins!
<br /> � policios of inpurance and renewais thersof or copiss of tuch poNcles and rsnewats theraof. Failure to furnlah such �
<br /> iasuranca by Truator, or renew�ls as re�uirod hereu�der. �hall.pt the optian of Benaficisry, constltuta a detault. Ail __
<br /> unearnad r�remiums aro heroby assipned to Trustee a9 additianal secu�ity, and a aeie and convoysnca of tfw I�rQperty --
<br /> 6y tha Tr�stee shatl opa�ate to convey to the purchaser ttZe Trustor's interest In and to all policiea of insur�nce c��o�� '�
<br /> . the T�ust �Proper4y. �
<br /> 6. Tax�s �r+d A�r�sur�anU. Trustor shall pay all texes end speci�l essessments levied or essessed eQoinst, or _
<br /> dua upon, tho Property before de�e�iquency and w►itl deli�[ar Lo Beneflciary co�ies cf receipts showing peymer.t of such �
<br />'`•i tazos �nd spaclal sssassme�ts.
<br /> ' i 6. Addtiiawi l.iwns.Y�ustor sJhaU makQ a!1 psyment��..1r'niqrost and Principal,and R+Ymeota of ony ot[zc�chsryaa.
<br /> � feea, and expensas�ontracted t� be pald to eny axisti+*y r�on holders or prior beneflcisNas under anY P��w Ooed of i
<br /> �; Trust, Mortga�e w other securlty epraemeat, F�vfore the dato thay ere delinquent and to pay� c�r►V other cl�im which _
<br /> jeopa�dizes the security 4ranted harein. =-
<br />::; � 7. �o��of g���y��cu�ty, St�oufc�F�uatcr fail to make a�y payment. fait tQ de a�y act es he�ei� -
<br /> provided or if any actian or proceeding ie corru�.rod wt�ich materlally aNscta Beneficiary's inte�ast in the Property,
<br /> including, but no Gmited to, eminent doma!!�. insolvancy, arra�aments or proceedinps �c��o�viny a bankrupt or _
<br />�- ���. dec�dw�t,then Be�ofisiary or Trustee, but w ithaut obpgation to do so.•�d without notice tQ p��9emsr►d upon Trustor, _
<br /> v•_� and without �eles�sin�t 4rusto�from any obligstion horeundsr,may ms�4e or do the same� a�x9 may pay, purchase, �_
<br /> a�ntest or compromise andy encumbrance, char9e or lie�,which in the juefgenr�r�t of either appears to affect saic� �
<br />-� -
<br /> Property; in oxercising any such powers,the Beneflciary o�Trustee may incur a�ib�l��ana expend whate�a��un s�
<br />-`� includlnp disbu�sements of reasonab�e atterr�y's fees, which in thei� absolute a5"rscre::crrs rtwa►� be necessar�• �n sPw� _
<br /> evant thet Trusto� shaU fail to procure insv��ce, feil to pay taxes snd specimQ �-a5�essrnen�s or fa(I tv rra+ice env
<br />= payments to existing or prior lien hoidar�ar beneficisrles.the Beneficiary may p�ac:�such insurance and mske such
<br />_� � paymentr. All sums incurred or expended by Beneficiarop or Trusteo in accocdarr�e with the pr�vlslons o��'taa t3eed o�
<br />�� Trust are sec�red hereby and.wiihout demand.shall bo imrnediately due and payable by Trusto�and sh�ll be�r interes:
<br />° et the rate providad for edvancas unde�the Loan Agreemenr, provided,however,that at the option of the Beneficiary�
<br />�� or Trustee,such aums may be added to this princlpal balance of sn�p indebtedness sacured heTeby and shall bear tha
<br /> cama Interest as such indebtainess and shall ba payable rataWy over the remeining term thereot.
<br />_� 8, qs�nnw�t of R�nb. BecieficiaN shall hava the ri�ht,powe�a�d authority durinp ths continuance of this Deed
<br />— of Truzt to collect the rents,issuas and p�ofits of the Property and of any percona!property locdtad the�eon with or
<br />—� witf�ut takinp possess3on of the Propertp affeeted hereby,pnd 1�usior nereuy-•i+5u�tia:r o�%����s�-���l�waa���±e
<br />—�
<br /> e!!such rents,issuas and Rrofits to Bene�icisny. Beneflclarl►�tufwever, hereby consents to the Trustor's cotlection a�ar
<br />_,� retantloi�of such rer�ts,issues�nd Profiis ��Tr�Y accrue and become PpYAble so long ss Trusta is �ot, at such time, .
<br /> —�� in defwlt with respect to payment of any 6e�?ebtedness cecured hereby or in the performanca of any egreemeni
<br /> _�,� hereunder. Upon any such dsfaalt, Bene�iciarl► ma��uny time,either in petson, by apent ar by a receiver to be
<br />._� appoInied by a court.without notics and without reg�Ccr the sdequacy ot aoy security for the indebtedness hersbY
<br /> —�, secured: (a1 e�st� upon and tske Pessessi¢'z of the �ra�ertY w arty� Part thereof and in iu own neme sue for or .
<br /> otherwlse coUect such rents,lssues a�d p�r�is, indudir�thase pasL due ar�d unpald,an a�y the ssme.less cos2�
<br /> 3 uxi expenres of operatio�and co��ection, irtcS�dirx,� r�a�nable attorney feea,u�n any ir�cariness secured lureb��
<br />— ar�d ;nsu�h order as Beneficiary may determiroa:fb� per`orm such acts of repaic ac pratection as may be necessarl►or
<br /> proparto consen+s Yhe value of the PropertY:lcl�esse the same or any part he��1=for such rental term a�d upon such
<br />�.;�, conditb�s as iu Iudgment may dictate. Unlass Trustor a�d Benefias�rY a9�ee ati�W��in writing, any spp�ication of
<br /> rents.lssuas or profits to any indebtedness aecured hereby shall not extend or pes4pone the due date of the installmeRt
<br />,_� . pgyrr�u as provided in the Loan Agresment, and the application thereof ss ryfcressid s14m1;not waive or cure an�
<br /> � daf�.Jt or notice of default hareunder or invalidate an�o act done pu�suant tQ ��h notice. 'Prustor a1sc�assigns to
<br /> �,�: 6e�ef,�;ary. ar furthe�cacu�ity for the performance of ti�se obtiystions secured hereby,all prepald rents sr�d ell mon'ies
<br />-�z; : • which rsnay have been o� may hereafter be deposited with sald Trustor by any tessee of the Property, to sec�re the
<br />—y:
<br />_��� psyment of any rent,and upon default in the performance of ar�y of the provlrions herecf,'1"iusUar agrees to deliver
<br />--_� su,c4�rents and deposi4c to the Beneficlery. Delivery of vlritten notice ot Beneficiary's exetc,�se of the riphts yrant¢�f:
<br />___:� fser�n to any tenant occupYir�q.said Premcses shali Ese sufficient tu requlre s�id tenant to pay said cent to the
<br />_� 6ett,�fici,ary until furthet noticQ. by right of
<br /> ,�• 9, �ond�matlon. If tide to arsY P3ct of the Pro�tSr shaEl be taken in condemnation �z�oceeding�.
<br /> 3�.
<br />�.���r} emixient dorr�ain or similar action,or�Irall Isa sold under threat nf condemnatbn,al! awardg; �ages and procesds
<br /> ,u;y_� r.cQ iierebY��nad and shefl�e pa�to F�anafciEry wh�shall a�p1y such award.dama�es�rcd Proceads to the sums
<br /> �, sa�ured by the Dsed of Tr�st, with the excess,if zny, paid to ti�e 7rustoe.
<br /> � . 10_ Futun Advano��. 'fhe Loan Agreement provides for advances from ttime to Ume to Trustor by BeneflclarY
<br /> t� as Rrovidad the�ein. !n a�dition,upar►request of Tt�stor,Beneficiary, at BeneficiarY's option,prior to reconveyance
<br /> .� ,
<br /> :'- i of the Prope►ty to the T�ustor, may m�ke additional future advances to the Trustor. Such future sdvances, wit
<br />' � � Intarast thereon,shall be secured bY this Oeed of Trust when evldenced by promissory notes stetin�that said notes
<br /> t ara secured hereby; provided that at na ttme shall the secured principa! and future advances, not including sums
<br /> � advanced to protect the security, excaed one h�ndred percent (10096) of the origina! principat emounts secured
<br /> ' herebY_
<br /> »_ .Re�di�s Cumutstiv�. All�emc�dtes provided in this Deed of Trust are distinct and �umulative to any otiyer
<br /> ri�ht or rem�dy under this Deed of T�ust or allorded by taw or equity, and may be ezec�cise�i,c,.q�c�trrontlV•
<br /> �nc3ependently or successively. i • �' c .�.-�
<br /> 12. AccNKa�on:R�n'Ndi�s%Ss�• A dafault shall exist in the event of:
<br /> W) Any fraud or misrepresentation by tha Trustnr in connection with the line of credit which thls Deed of Trust
<br /> • secures;
<br /> � .
<br /> •.
<br /> • . 408-2
<br /> • 9/94 �
<br /> . ... _ . ._........ _ . _ . .'.- —'-.'�'�-""-:
<br /> __"_"_,�.�_.,�-..-.._-.-._-�- ... ..h:F'i�lw 4. `
<br />
|