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2�ioo�52i <br />sold or transferred reach an agreement in writing that the credit of such person is satisfactory to Beneficiary <br />and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as Beneficiary <br />shall request. <br />THIRD: That as further security for the payment �f the Note and the indebtedness thereby evidenced <br />and the performance of all of the terms, covenants and conditions hereof, Trustor agrees that Beneficiary <br />shall and does hereby have the right, pawer and authority during the continuance of this Deed of Trust to <br />collect the rents, issues and profits of the 1'roperty and of any personal property located thereon with or <br />withaut taking possession of the property affected thereby; and Trustor hereby absolutely and <br />unconditionally assigns all such rents, issues and profits to Beneficiary. Beneficiary, however, hereby <br />consents ta Trustor's collection and retention of such rents, issues and profits as they accrue and become <br />payable sa long as trustor is not at such time in default with respect to payment of any indebtedness secured <br />hereby or in the performance of any agreement hereunder. Upon any such default, Bene�ciazy may at any <br />time, either in person, by agent, or by receiver to be appainted by a court without notice and without regard <br />to the adequacy of any security for the indebtedness hereby secured (a) enter upon and take passession af <br />the Froperty or any part thereof and in its own name sue for or otherwise collect such rents, issues and <br />profits, including those past due and unpaid, aa�d apply the same, less costs and expenses of operation and <br />collection, including reasonable attorney's fees, upon ar�y indebtedness secured hereby and in such order as <br />Beneficiary may determine; (b) lease the same or any part thereof far such rental, term and upon such <br />conditions as Beneficiary's judgment may dictate or terminate or adjust the terms and canditians of any <br />existing lease or leases. Unless Trustor and Bene�ciary agree atherwise in writing, any application of rents, <br />issues or prafits ta any indebtedness secu.red h�reby shall not extend or postpone the due date af the <br />installment payments as provided in the Note or change the amount of such installments. The entering upon <br />and taking possession of the Fraperty, the collection of such rents, issues and profits, and the application <br />thereof as aforesaid, shall not waive or cure any default or notice of default hereunder, or invalidate any act <br />done pursuant to such notice. Trustar assigns ta Beneficiary, as further security for the performance of the <br />indebtedness and obligations secured hereby, all prepaid rents and all moneys which may have been or may <br />hereafter be deposited with Trustor by ariy lesse� of the Property, to secure the payment of any rent or <br />damages, and upon default in the performance of any of the pravisivns hereof, Trustor agrees to deliver such <br />r�nts and deposits to Beneficiazy. Delivery of written notice of Beneficiary's exercise of the rights granted <br />by this paragraph THIRD to any tenant occupying the Property or any portion th�reof shall be sufficient to <br />require said tenant to pay said rent to B�neficiary until further notice. <br />FOURTH: If there shall be �iled by or against the Trustor any petition or proceeding seeking any <br />arrangement or composition or extension of any other relief ur�der or pursuant to the �'ederal Bankruptcy <br />Code or any other similaz statute as is now or hereafter in effect, or if the trustar shall b� adjudicated <br />bankrupt or insolvent or any af Trustar's praperty shall have been sequestered and such decree shall have <br />continued undischarged and unstayed for ninety (90) days after the entry thereof, then the whole of the Note <br />and indebtedness hereby secured shall, without natice, at the option of the Beneficiary become due and <br />payable. <br />FIFTH: Upon default by Trustor in the payrnent of or performance of the terms and conditions of <br />the Note, or any renewals, modifications or executions thereof, the payment af any other indebtedness <br />secured hereby ar in the performarice of any agreement, covenant ar warranty herein contained or set forth <br />in any agreement or instrument executed by Tntstor in connection with the indebtedness hereby secured, <br />Beneficiary rnay declare all sums secured hereby immediately due and payable and the same shall thereupon <br />become due and payable without presentment demand, protest or notice of any kind. Thereafter, Beneficiary <br />may deliver ta Trustee a written declazation of default and demand for sale. Trustee shall have the power <br />of sale of the Property and if Bene�'iciary decides the Property is to be sold, it shall deposit with Trustee this <br />Deed af trust ar�d the Nate nx notes and any other documents evidencing expenditures secured hereby, and <br />shall deliver to Trustee a written notice of default and election to cause the Property to be sold, and Trustee, <br />in turn, shall prepare a similar natice in the form required by law, which shall be duly filed for record by <br />Trustee, <br />(a) After the lapse of such time as may be required by law following the recordation of Notice of <br />Default, and Notice of Default and Notice af Sale having been given as required by law, Trustee, without <br />demand on Trustar, shall sell the Property hereinbefore described, and any and every part thereof, in separate <br />parcels or en masse as the Trustee may elect and in such order as trustee may determine on the date and at <br />the time and place designated in said Notice of Sale, at public auction to the highest bidder, the purchase <br />price payable in cash in lawful rnaney of the United States at the tirne of sale. The person conducting the <br />Page 3 of 6 <br />