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201001610
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Last modified
3/11/2010 3:42:49 PM
Creation date
3/11/2010 3:42:48 PM
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DEEDS
Inst Number
201001610
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2oiooisio <br />profits, including those past due and unpaid, and apply the same, less costs and expenses of operation <br />and collection, including reasonable attorney's fees, upon any indebtedness secured hereby and in <br />such order as Beneficiary may determine; (b) lease the same or any part thereof for such rental, term <br />and upon such conditions as Beneficiary's judgment may dictate or terminate or adjust the terms and' <br />conditions of any existing lease or leases. Unless Trustor and Beneficiary agree otherwise in writing, <br />any application of rents, issues or profits to any indebtedness secured hereby shall not extend or <br />postpone the due date of the installment payments as provided in the Note ar change the amount of <br />such installments. The entering upon and taking possession of the Property, the collection of such <br />rents, issues and profits, and the application thereof as aforesaid, shall not waive or cure any default <br />or notice of default hereunder, or invalidate any act done pursuant to such notice. Trustor assigns <br />to Beneficiary, as further security for the performance of the indebtedness and obligations secured <br />hereby, all prepaid rents and all moneys which may have been or may hereafter be deposited with <br />Trustor by any lessee of the Property, to secure the payment of any rent or damages, and upon default <br />in the performance of any of the provisions hereof, Trustor agrees to deliver such rents and deposits <br />to Beneficiary., Delivery of written notice of Beneficiary's exercise of the rights granted by this <br />paragraph THIRD to any tenant occupying the Property or any portion thereof shall be sufficient to <br />require said tenant to pay said rent to Beneficiary until further notice. <br />FOURTH: If there shall be filed by or against the Trustor any petition or proceeding seeking <br />an arrangement or composition or extension or any other relief under or pursuant to the Federal <br />Bankruptcy Code or any other similar statute as now or hereafter in effect, or if the Trustor shall be <br />adjudicated bankrupt or insolvent or any of Trustor's property shall have been sequestered and such <br />decree shall have continued undischarged and unstayed for 90 days after the entry thereof, then the <br />whole of the Note and indebtedness hereby secured shall, without notice, at the option of the <br />beneficiary, became due and payable. <br />FIFTH: Upon default by Trustor in the payment of or performance of the terms ,and <br />conditions of the Note, or any renewals, modifications or executions thereof, the payment of any <br />other indebtedness secured hereby or in the performance of any agreement, covenant or warranty <br />herein contained or set forth in any agreement ar instrument executed by Trustor in connection with <br />the indebtedness hereby secured, Beneficiary may declare all sums secured hereby immediately due <br />and payable and the same shall thereupon become due and payable without presentment; demand, <br />protest or notice of any kind. Thereafter, Beneficiary may deliver to Trustee a written declaration <br />of default and demand for sale. Trustee shall have the power of sale of the Property and if <br />Beneficiary decides the Property is to be sold, it shall deposit with Trustee this Deed of Trust and <br />the Note ar notes and any other documents evidencing expenditures secured hereby, and shall deliver <br />to Trustee a written notice of default and election to cause the Property to be sold, and Trustee, in <br />turn, shall prepare a similar notice in the form required bylaw, which shall be duly filed for record <br />by Trustee. <br />(a) After the lapse of such time as may be required by law following the recording ofNotice <br />of Default, and notice of Default and Notice of Sale having been given as required by law, Trustee, <br />without demand an Trustor, shall sell the Property hereinbefore described, and any and every part <br />thereof, in separate parcels or en masse as the Trustee may elect and in such order as Trustee may <br />Page -4- <br />
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