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� lrv;r � �y± ' �p` 201049381
<br />CONDEMNAI'IUN. Grantar shall give Lender notice of any actiort taken or threatened to be taken by private or
<br />public entities to appropriate the Prpperty or any par� thereof, tt�rough condemnation, eminent domain or any other
<br />action. Further, Lender shall be permitted lo participate or intervcne in any of the above described proceedings in
<br />any manner it shall at its sole discretion determine. Lender is hereby given fiill power, ri�ht and authority to
<br />receive and receipt for �tt�y and alt damages awarded as a result of tlie full or partial taking or zppropriation and in
<br />its sole discretion, to apply said awards to lhe indebtedness, whether or xiot then due or atlierwise in accordance
<br />with applicable law. Unless I.ender oth�rwise agrees in writin�, any application bf proceeds to the Indebtedness
<br />shall nqt extend or postpone the due date of the payments due under the indebtedness or cltan�e the �tmount of
<br />such payinents.
<br />GRANTOR'S ASSURANCF,S. At any time, upon a reyue5t of [,ez�der, Grattlor will execute and deliver to
<br />Lender, azid if appropriate, cause to be recorded, such furlher mort�a'ges, assignments, assignzt�ents of. leases and
<br />rents, security a�reements, pledgeti, financing eCatements, or such ather .doc�unent as Lender may rec�uire, in
<br />Lender's sole discretior�, to effectuate, complete and to perfect as well as to continu� to preserve the Indebtedness,
<br />or the lien or security interest created by this Security Instrument.
<br />ATTORNEY-IN-H AC7'. Grantor ap�oints I.ender as attorney-in-facc on behalf of Urantor. If Grantor fails to
<br />fulfill any of Grantor's obligations under this Security Instrument or any Related Documents, it�cluding tliose
<br />obligations menlioned in the preceding para�rap}�, .[,ender as attorney-in-fact may fultill the obligations witlun►t
<br />x�otice to Grantor, Tl�is power qf attorney shall not be affected by the disability �f the Grantor.
<br />EVENTS OF DEFAiJLT. Tlie followin� events shall constitute default uncler this Security Instxument. (each an
<br />"Event of Default"):
<br />(a) Failure to make required payments when due under Indebteclness;
<br />(b) Failure to perform or keep any of tlie covenants of this Security Instrument or a default undc�r ar�y of
<br />lhe Related Uocumetits;
<br />(c) The makit�g of any oral or written statement ar assertion to I ,ender chat is false or misleading in any
<br />material respecC by Grantor or any person obligated on the Indebtedness;
<br />(d) The death, dissolution, insolvency, bankniptcy or receivership proceeding of Grantor or of aziy person
<br />or entity obligated on the Indehtedness;
<br />(e) Any assignmenC by Cirantor for the benefit of Grantor's creditors;
<br />(fl A material adverse change occurs in the �nancial cozadi.tion, ownership pr management of Grantor �r
<br />a��y person obligated o�� the lndebtedness; or
<br />(g) Lender deems itself insecure for any reason whatsoever. „
<br />REM�DIES ON DEFAUI�'�'. Upon tlie occurrence oF an Lvent of Uefault, Lencier may, without demand or
<br />notice, pay any or all taxes, assessments, preznituns, and lien5 required to be paid by Grantor, effect �ny intitirance
<br />provided for herein make such repairs, cause the ab�tracts �f title c.�r title inauratice policy and tax hiGtorieG af the
<br />Property to be certified lo daCe, vr procure new abstracts of title or title insurance and tax histories in case i�one
<br />were furnished to it, and procure titte reports covering the Praperty, including surveys. The am�unt5 paid for any
<br />such purposes will be added to the Indebtedness and will hear interest at the rate of interest otherwise accruiz�g on
<br />the Indebtedness unlil paid. In the event of foreclosure, the abstracts of title or title insuraiice shall hecome tlie
<br />property of Lender. All abstracts of title, title insurance, tax llistories; surveys, and t�ther documents pertaining to
<br />the Iiadebtedness wi11 remain in I,ezader's possessian until t}�e Indebtedness is paid in fiill.
<br />IN 'I'HE EVENT OF THE SALFs OF THIS PROPERTY UNDER THE PRC3CEDURH FOR F�RECLOSUkF OF
<br />A SECURITY 1NSTRUMENT BY ADVER"1'1SEMENT, AS PROVID�I) $Y APPLICABLE LAW, O�Z 1I�1 THE
<br />EVENT LENDER �XERCIS�S 1'.TS RIGHTS LINDEK "I'HF, ASS.[GNMENT OF L�AS�S AND RENTS, TII�
<br />I�ENDER SIIALL PFtOVI�)� ALL STATUTORII,Y REQUIRED NOTIC'ES C)F SALE AND NOTICES OF`
<br />JUDICIAL HEARINGS BEFOKE LENDER EXERCfSFS ANY OF ITS RIGHTS UNI)�;lZ TH1S
<br />INSTRUMEN'1". ` ' '
<br />Upon the occurrence of an Event of Uefault, Lender may, witt�out ��otice tuiless required by law, and at its option,
<br />declare the entire Indebtedness due and payable, 1s it tnay elect reg�rdlesti of the date or dates or uialurity thereof
<br />and, if permitted by state law, is authorized and empowered to cause the Property to be sold at public auction, and
<br />to execute and deliver to the purchaser or purchasers at such sal� any deeds of conveyance good and suffi'cient at
<br />law, putsuant to the statute in such case made and provided. The Tr�GStee shall apply the proceeds of the Tn�stee's
<br />sale, first, to the costs and expenses of exercising the power al'sale and of the sale, including the paynient of the
<br />Tn�stee's fees actually incurred; second, to payznet�t of the c>hli�ation secured by tlie Crust deed; tliird, to the
<br />payment of juni��r trust deeds, mortgages, or other lienholdea�s and tlie balance, if any, to the person o�� persons
<br />legally entitled thereto. The recitals in ttie Trustee's deed slaall be prima facie evidence of the truth of the
<br />statements made in it. lf Lender chooses to invoke the power of sale, Lender or Trustee will provide nokice of sale
<br />pursuanl to applicable law. Any sucli sale or a sale made pursuant to a judgment or a decree £or the foreclosure
<br />hereof may, at tlie option of Lencler, be made en masse..'The coixunencement of proceedings to fareclose ,this
<br />Securiry Instrutnent in any manner authorized by law slaall be deeme�l as exercise of the above optiorz.
<br />Upon the occurrence of an �vent of Uefault, Lender shall immediately be ezititled to make applicatinn for and
<br />obtain the appointment of a receiver for the Property and of the earnings, income, issue and profits of it, with the
<br />powers as the court ��aking tt�e appointmenls coni:ers. Grantor hereby irrevocably consents to such appoinhnent
<br />and waives notice of any application therefor.
<br />NO WAIVEFi. No delay or failure of Lender to ex�rcise any right, remedy, power or piivilege. hereunder .shaU
<br />affact that right, remedy; power or privilege nor shall any single or partial exercise thereof preclude tlie exercise of
<br />any ri�ht, remedy, power or privilege. No Lender delay or failure to detnand strict adherence to the lerms of tl�is
<br />R? 2004-2010 Compliancc Systcros, �nc F947-813AC - 20 � 0.053( 5 � � � � � � � � � � � ' '
<br />Commercinl Rznl Cslnl.z See'urity Instnimcnt - DL4007 1'age 3 nf 5 .. . . � www,complianccs}5tcros.com
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