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201005096
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201005096
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Last modified
7/22/2010 4:28:57 PM
Creation date
7/22/2010 4:28:57 PM
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DEEDS
Inst Number
201005096
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201005090 <br />other obligations thereunder direct to Benef ciary without any obligation an their <br />part to determine whether an Event of Default does in fact exist or has in fact <br />occurred. All Rents collected by Beneficiary shall be applied as provided for <br />above; provided, however, that if the costs, expenses and attorneys' fees shall <br />exceed the amount of Rents collected, the excess shall be added to the Nate, shall <br />bear interest and shall be immediately due and payable. The entering upon and <br />taking possession of the Property, the collection of Rents and the application <br />thereof as aforesaid shall not cure or waive any Event of Default or notice of <br />default, if any, hereunder, nor invalidate any act done pursuant to such notice, <br />except to the extent any such default is fully cured. Failure ar discontinuance of <br />Beneficiary at any time or from time to time, to collect the Rents shall not in any <br />manner impair the subsequent enforcement by Beneficiary of the right, power and <br />authority herein conferred. Nothing contained herein, nor the exercise of any <br />right, power of authority herein granted to Beneficiary shall be or be construed to <br />be an affirmation by it of any tenancy, lease or option nor an assumption of <br />liability under nor the subordination of the lien or charge of this Deed of Trust to <br />any such tenancy, lease or option. <br />(c) Trustor shall not: (i) execute an assignment of any right, title or interest in the <br />Rents; or (ii) except where the lessee is in default thereunder, terminate or consent <br />to the cancellation or surrender of any Lease, now or hereafter existing, except that <br />any Lease may be canceled provided that promptly after the cancellation or <br />surrender thereof a new Lease is entered into with a new lessee having a credit <br />standing, in the judgment of Beneficiary, at least equivalent to that of the lessee <br />whose Lease was canceled, on substantially the same terms as the terminated or <br />canceled Lease; ar (iii) modify any Lease or any part thereof so as to shorten the <br />unexpired term thereof or so as to decrease the amount of the Rents; or (iv) accept <br />prepayment of any Rents in excess of one month, except prepayments in the nature <br />of security for the performance of the lessee under any Lease; or (v) in any other <br />manner impair the value of the Property or the security of this Deed of Trust. <br />Trustor shall not execute any Lease of all or any substantial portion of the <br />Property, except fox actual occupancy by the lessee thereunder, and shall at all <br />times promptly and faithfully perform, or cause to be performed, each covenant, <br />condition and agreement contained in each Lease, now or hereafter existing, on the <br />part of lessor thereunder to be kept and performed. Trustor shall furnish to <br />Beneficiary, within ten (10) days after a request by Beneficiary to do so, a written <br />statement containing the names of all lessees of the Property, the terms of their <br />respective Leases, the spaces occupied and the rentals payable thereunder. <br />10. Upon payment of all sums secured by this Deed of Trust, Beneficiary shall request <br />Trustee to reconvey the Premises and shall surrender this Deed of Trust to Trustor. Trustee shall <br />reconvey the property without warranty to the person or persons legally entitled thereto. Such <br />person or persons shall pay all costs of recordation, if any. <br />DEED OF TRUST <br />7:\TJC\13111\223\NE-DOT.2.wpd - 6 <br />
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