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201003 cos
<br />6. Maiuatenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition
<br />and repair; shall promptly repay, ar replace any improvement which maybe damaged ox destroyed; shall not
<br />commit or permit any waste ox deterioration of the Property; shall not remove, demolish or substantially alter any of
<br />the improvements on the Property, shall not commit, su#Tex or permit any act to be done in or upon the Property in
<br />violation of any law, ordinance, or regulation; and shall pay and promptly discharge at Trustor's cost and expense all
<br />liens, encumbrances and charges levied, imposed or accessed against the Property ar any part thereof.
<br />'1. Eminent Domain. Lender is hereby assigned all compensation, awards, dazaages and other payments
<br />or relief (hereinafter "Proceeds") in connection with condemnation or other taking of the Property or part thereof, or
<br />for conveyance in lieu o~condemuation. Lender shall be ezttit~ed at its option to commence, appear in and prosecute
<br />in its own :name any action or proceedings, and shall also be entitled to make any compromise ox settlement in
<br />connection with such taking y damage. In the event any portion of the Property is so taken or damaged, Lender
<br />shall have the option in its sole and absolute discretion, to apply all such. proceeds, after deducting therefrom all
<br />costs and expenses incurred by it in connection with such Proceeds, upon any indebtedness secured hereby and in
<br />such order as Lender may determine, or to apply all such Proceeds, after such deductions, to the restoration of the
<br />Property upon such conditions as Lender may determine. Any application of Proceeds to indebtedness shall not
<br />extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. Any
<br />unapplied funds shall be paid to Trustor.
<br />B. Performattce by Lender. Upon the occurrence of an Event of Default herewnder, or if any act is taken,
<br />or legal proceeding commenced which materially affects Len.der's interest in the Property, Lender may in its own
<br />discretion, but without obligation to do so, and without :notate to or demand upon Tzustox and without releasing
<br />Trustor from any obligation, do any act which Txustox has agreed but failed to do and may also do any other act it
<br />deems necessary to protect the security hereof. Trustor shall, ianmediately upon demand therefor by Lender, pay to
<br />Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by Lender of
<br />the foregoing rights, together with interest thereon at the default rate provided in the Note, which shall be added to
<br />the indebtedness secured hereby. Lender shall not incur any liability because of anything it may do or omit to do
<br />hereunder.
<br />9. Hazardous Materials. Trustor shall keep the Property in compliance with all applicable laws,
<br />ordinances and regulations relating to industrial hygiene or environmental protection (collectively referred to herein
<br />as "Environmental Laws"). 'Trusty shall keep the Property free from all substances deemed to be hazardous or toxic
<br />under any Environmental Laws (collectively re~erxed to herein as "Hazardous Materials"). Trustor hereby warrants
<br />and represents to Lender that there are no Hazardous Materials on or under the Property. Trustor hereby agrees to
<br />indemxrify and hold harmless Lender, its directors, officers, employees and agents, and any successors to Lender's
<br />interest, from and against 9ny and all claims, damages, losses and liabilities arising in connection with the presence,
<br />use, disposal or transport of any Hazardous Materials on, under; from or about the Property. THE FOREGOING
<br />WARRANTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSANT TO THE
<br />FOREGOING INDEMNITY, SHALL SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br />10. Assignment of Rents. Trustor hereby. assigns to Lender, and grants Lender a security interest in, all
<br />present, future and after arising rents, issues and profits of the Property; provided that Trustor shall, until the
<br />occurrence of an Event of Default, hereunder, have the right to collect and retain such rents, issues and pxvftts as
<br />they become due and payable. Upon the occurrence of an Event of Default, Lender may, either in person or by
<br />agent, with or without bringing arry action or proceeding, or by a receiver appointed by a court and without regard tv
<br />the adequacy of its security, enter upon and take possession of the Property, vx any part thereof, in its own name or
<br />in the name of the Trustee, and do any acts which it deems necessary or desirable tv preserve the value,
<br />marketability or rentability of the Property; or any part thereof yr interest therein, yr to increase the ineorne
<br />therefrom or protect the security hereof and, with or without taking possession of the Property, sue for or otherwise
<br />collect the rents, issues and profits thereof, including those past due and unpaid, by notifying tenants to make
<br />payments to Lender. Lender may apply rents, issues and profits, less costs and expenses of operation and collection
<br />including attorney's fees, to any indebtedness secured hereby, all in such order as Leader may determine. The
<br />entering upon and taking possession of the Property, the collection of such rents, issues and profits, and the
<br />application thereof as aforesaid shall not cure or waive any default or notice of default hereunder or invalidate any
<br />act done in response to such default or pursuant to such notice of default and, notwithstanding the continuance in
<br />possession of the property ox the collection, receipt and application of rents, issues or prof ts, Trustee and Lender
<br />shall be entitled to exercise every right provided far in any of the Loan Instruments or by law upon occurrence of
<br />any Event of DeI"ault, including without limitation the right to exercise the power of sale. Further, Lender's rights
<br />and remedies under this paragraph shall be cumulative with, and in no way a limitation on, Lender's rights and
<br />remedies under any assignment of leases and rents recorded against the Property. Lender, Trustee and the receiver
<br />shall be liable to account only for those rents actually received.
<br />l l . Events a£ Default. The following shall constitute an Event of Default under this Deed of Trust:
<br />(a) Failure to pay any insta)hnerrt of principal or interest-vx any other sum scorned her,•Frh~. due; -
<br />(b) A breach of or default under any provision contained in the Note, this Deed of Trust, any of the Loan
<br />Instruments, ar any other lien or encumbrance upon the Property;
<br />(c) a writ of execution or attachment or any similar process shall be entered against Trustor which shall become a
<br />lien on the Pxaperty or any portion thereof or interest thereix-;
<br />(d) There shall be filed b~ or against Trustor or Borrower an action under any present or future federal, state or
<br />other statute, law or regulation relating to bankruptcy, insolvency ar other relief for debtors; or there shat] be
<br />appointed any trustee, receiver or liquidator of Trustor or Borrower or o£ all or any part of the Property, or the rents,
<br />issues or profits thereof, or Trustor ox Borrower shall make any general assignment for the benefit of creditors;
<br />(e) The sale, transfer, lease, assignment, conveyance yr fiuther encumbrance of all or any part of or any interest in
<br />the Property, either voluntarily or involuntarily, without the express written consent of Lender; provided that Trustor
<br />shall be permitted to execute a lease of the Property that does not contain an option to purchase and the term of
<br />which does not exceed one year;
<br />(fl Abandonment of the property; ox .
<br />(g). If Trustor is not an individual, the issuance, sale, transfer, assigrunent, conveyance ar encumbrance of more than
<br />(if a corporation) a total of NA percent of its issued and outstanding stock, or (if a partnership) a total of NA
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