��A . �
<br /> � - - _ �----'�;r..�.`___--
<br /> '':-- -
<br /> � ' • _—-��.rt= i3i►��� .-•.}-,• --...-
<br /> ��fZ._.. � -- - - . "--- --_ - �-- --
<br /> - --- —— �,
<br /> r
<br /> , g�� �,t1z5�� _.
<br />. ehall Y►e appointed and ehall not be rlischarged within thirty (30) __
<br /> days after appointment; or _
<br /> (e) Trustor pays any operating line of credit existing at the =
<br /> Bank; or �`
<br /> ti '� r �-^^utio^ �r st�Achmanr. or any similar process �
<br />-. �i� Cl MI��3 t,. va 4AV V f
<br /> ehall be iesued or :I.o�;a.eu againdL aII uL anY g�i� �: �r i::tie=°at 'n =
<br /> such property, or any judqemen� involving monetary damagee eha1Z be _
<br /> entered arains�t Trustor which shall become a lien on euch property �
<br /> or portion thereof or interest therein and such execution,
<br /> attachment or eimilar process or judqement ie not reledsed, bnr�d�d, _
<br />� satief ied, vacated or atayed within e ixty (60) days afL•er ite entry
<br />_ or levy; or _
<br />�
<br /> (g) eenkruptcy, insolvency, reorqanization, arranqement, or
<br /> - liquidation proceedinqe or other procaedinge for relierl under any _
<br /> � bankruptcy law or other law for the relief of debtore eha�ll ba -
<br /> - inetitvted by or aqainat Tructor or any Guarentor hereof and if -
<br /> instituted against euch party shall be consented to or ehall not t�a
<br /> diemiseed within sixtcy (60) days after euch inetitution; or _
<br /> , {h) Trustor and anv aucceseor in interest of Truetor,
<br /> voluntarily or involuntarily should sell, exact, convey, tranefor,
<br /> . contract to sell, lease wi�h option to purchase, aublease, dispoee
<br /> of, change the character or uee of, or further encumber euch
<br />_ nronerty, or any part thereof, or any interest therein, or if any
<br /> said parties shall be diveated of title to such real property or any
<br /> L,...__� •..�.e.. y_>>_rt,.,-;i� ;n involuntarily.
<br /> part L'nerevi, Vl Cul�i iia�.cLCVa. .:.+�.••..�
<br /> or if title to such property be subjected to any lien or charge
<br /> voluntari3g or involuntarily, contractual or etatutory, with�ut the
<br /> written cnnsemt of Beneficiary being first obtained; or
<br />- (i) If Trustor is a partnership and the interest of a general
<br /> partner terminates, is assiqned or traneferred, or is diminiehEd in
<br />- any reapect, or if Truetor ia a corporation and a tnnjority of the
<br /> veting co�orate etock is transrerred, soid or ar��iyuau, �� i� �ha
<br /> Trustor is a Trustee of a trust and there is a chaage of any of the
<br /> Heneficial interest of the trust; or
<br /> FULL RECONVEYANCE: That, upon written request of Beneficiary
<br /> atating that all sume secured hereby tnave been paid r�nd all
<br /> obliqatione secured hereY�y have been satisfactorily performed,
<br /> Truator shall reconvey, without warranty, the property then held
<br /> hereuader. The recitals in such reconveyance of an�r ma�ters of fact
<br /> shall t�e conclusive proof of the truthfulnees thereof. The qrantee
<br /> in such reconveyance may ba designated as "the person or pereon
<br /> = legnlly entitled thereto". Such requests and reconveyance shall
<br /> _ operate as a reassignment of the rents, income, issue� and p�:o�its
<br /> hereinbefore assigned to Beneficiary.
<br /> � (j) Trustor ehall, without the consent of Beneficiary, create
<br /> j or consent to the establiehment of a district which has taxing
<br /> � powere.
<br /> ACCELERATiON UPON DEFAULT, ADDiTIONAL REI�DIES: in tha event
<br /> - of any default hereuader, Beneficiary may, at its option:
<br /> _ (a) Terminate additional advances, if any, to be made under or
<br /> � pursuant to the Promisso�cy Note or any building loan aqreement; or
<br /> �
<br /> = (b) Declare any sum secured hereby immediately due and payable
<br /> ' and the same shall there upon become due and payable without aay
<br /> ' presentment, demand, pro�est or notice of any kand; or
<br /> ":: . (c) At any time, with or without notice, either in person, by
<br /> aqent, or by receiver to be appointed by the Court without regard
<br /> to the adequacy of any security for the indebtednese secured hereby,
<br /> enter upan and take possession of such property or any part thereof,
<br /> make, cancel, enforce or madify leases; obtain and eject tenantso
<br /> set or modify rents; in its own name sue or otherwise collect the
<br /> rents, incoxe, isaues and profits thereof, including those past due
<br /> and unpaid; and apply the same, lese caats and expenses of
<br /> operation, inc:luding reasonable attqrney•s fees, upon any
<br /> -8-
<br />
|