201105720
<br />8. Assignment of Rents. Beneficiary shall have the right, power and authority
<br />during the continuance of this Deed of Trust to collect the rents, issues and profits of the
<br />Property and of any personal property located thereon with or without taking possession of the
<br />Property affected hereby, and Trustor hereby absolutely and unconditionally assigns all such
<br />rents, issues and profits to Beneficia,ry. Beneficiary, however, hereby consents to Trustor's
<br />collection and retention of such rents, issues and profits as they accrue and become payable, so
<br />long as Trustor is not, at such time, in default with respect to payment of any indebtedness
<br />secured hereby, or in the performance of any agreement hereunder. If any event of default
<br />described hereafter in respect to this Deed of Trust shall have occurred and be continuing,
<br />Beneficiary, as a matter of right and without notice to Trustor or anyone claiming under Trustor,
<br />and without regard to the value of the trust esta.te or the interest of the Trustor therein, sha11 have
<br />the right to apply to any court having jurisdiction to appoint a receiver of the Property.
<br />9. Inspections. Beneficiary, or their agents, representatives or workmen, are
<br />authorized to enter at any reasonable time upon or in any part of the Property for the purpose of
<br />inspecting the same and for the purpose of performing any of the acts it is authorized to perform
<br />under the terms of any loan instruments executed by Trustor.
<br />10. Transfer of Propertv. If all or any part of the Property or any interest of Trustor
<br />therein is sold, transferred or further encumbered without the express or written consent of
<br />Beneficiary, Beneficiary may, at its sole option, declare all sums secured by this Deed of Trust to
<br />be immediately due and payable and proceed to the remedies available to it under the default
<br />provisions contai.ned herein.
<br />11. Events of Default. Any of the following events shall be deemed an event of
<br />default hereunder:
<br />(a) Trustor shall have failed to make payment or any
<br />installment of interest, principal or principal and interest or any
<br />other sums secured hereby when due;
<br />(b) There has occurred a breach of or default under any
<br />term, covenant, agreement, condition, provision, representation or
<br />warranty contained in this Deed of Trust, the note or any other loan
<br />instrument secured hereby;
<br />(c) There has been a default by the Trustor in the
<br />paytnent of any prior or subsequent lien or encumbrance in respect
<br />to all or any part of the Property;
<br />(d) Trustor shall file a voluntary petition in bankruptcy
<br />or shall be adjudicated bankrupt or insolvent, or shall make an as-
<br />signment for the benefit of creditors in respect to the Property; or
<br />an action to enforce any lien or encumbrance or judgments against
<br />the Property is commenced.
<br />12. Acceleration Ubon Default. In the event of any default, Beneficiary may declare
<br />all indebtedness secured hereby to be due and payable, and the same shall thereupon become due
<br />and payable without any presentment, demand, protest or notice of any kind. Thereafter,
<br />Beneficiary may:
<br />(a) either in person or by agent, with or without
<br />bringing any acrion or proceeding, or by receiver appointed by a
<br />court and without regard to the adequacy of any security, enter
<br />upon and take possession of the Property, or any part thereof, in its
<br />own name or in the name of the Trustee, and do any acts which it
<br />deems necessary and desirable to preserve the value, marketability
<br />or rentability of the Property, or part thereof or interest therein,
<br />increase the income therefrom or protect the security hereof, and,
<br />without taking possession of the Property, sue for or otherwise
<br />collect the rents, issues and profits thereof, including those past
<br />due and unpaid, and apply the same, less costs and expenses of
<br />operation and collection, including attorney fees, upon any in-
<br />3
<br />
|