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201005559
<br />LEASES AND RENTS
<br />Section 7.01. Assignment of Leases and Rents. The Grantor does hereby sell, assign
<br />and transfer unto Beneficiary all of the leases, rents, issues, income and profits now due and
<br />which may hereafter become due undo or by virtue of any lease, whether written or verbal, or
<br />any agreement for the use ar occupancy of the Trust Estate, it being the intention of this Deed of
<br />Trust to establish, and this is, an absolute and present transfer and assignment of all such leases
<br />and agreements and all of the rents, income and profits from the Trust ]state unto the Beneficiary
<br />and the Grantor does hereby appoint irrevocably the Beneficiary its true and lawful attorney in its
<br />name and stead, which appointment is coupled with an interest, to collect all of said rents,
<br />incazne, and profits; provided; Beneficiary grants the Grantor the privilege to collect and retain
<br />such rents, income, and profits unless and until an Event of Default exists under this Deed of
<br />Trust. Upon an Event of Default and whether before or after the institution of proceedings to sell.
<br />the Trust .Estate or foreclose this Deed of Trust or during any period of redemption, and without
<br />regazd to waste, adequacy of the security or solvency of the Grantor, Beneficiary may revoke, at
<br />its option, the privilege granted Grantor hereunder to collect the rents, income and profits of the
<br />Trust Estate, and Beneficiary may, at its option, without notice, in person. or by agent, with or
<br />without taking possession of or entering the Trust Estate, with or without bringing any action or
<br />proceeding, or by a receiver duly appointed, give, or require Grantor to give, notice to any ar all
<br />tenants under any base authorizing and directing the tenant to pay such rents, income and profits
<br />to Beneficiary, such agent, or receiver as the case may bc; collect all ,of the rents, issues, income
<br />and profits; enforce. the payment thereof and exercise all of the rights of the landlord under any
<br />lease and all of the rights of Beneficiary hereunder; enter upon, take possession af; manage and
<br />operate said 'T'rust ]:state, or any part thereol; cancel, enforce or modify any leases, and fix or
<br />modify rents, and do any acts which the Beneficiary deems proper to protect the security hereof.
<br />Any rents, issues, income and profits collected shall be applied to the costs and expenses of
<br />operation, management and collection, including reasonable attorneys' fees, to the payment of
<br />the tees and expenses of any agent ar receiver so acting, to the casts incurred by the Beneficiary,
<br />including attorneys' fees, to the payment of taxes, .assessments, insurance premiums and
<br />expenditures for the management, repair and upkeep of the Trust Estate, to the performance of
<br />landlord's obligations under any leases and to the Obligations all in such order as the Beneficiary
<br />may require. The entering upon and taking possession of the Trust Estate, the collection of such
<br />rents, issues, income and profits and the application thereof as aforesaid shall not cure or waive
<br />any defaults under this Deed of Trust ar affect any notice of default or invalidate any act done
<br />pursuant to such notice nor in any way operate to .prevent the Beneficiary from pursuing any
<br />other remedy which it may now or hereafter have under the terms of this Deed of Trust or any
<br />other security given far the Obligations nor shall it in any way be deemed to constitute the
<br />Beneficiary amortgagee-in-possession.
<br />Section 7.02. Beneficiary's Right To Perform Under Leases. Should the Grantor fail
<br />to perform, comply with or discharge any obligations of Grantor under any lease or should the
<br />Beneficiary becorrie aware, of or be notified by any tenant under any lease of a failure on the part
<br />of Grantor to so perform, comply with or discharge its obligations under said lease, Beneficiary
<br />may, but shall not be obligated to, and without further demand upon the Grantor, and without
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