|
� ..,. -.��- ' . .�.,.Y.
<br /> - .iJ4M1 , - �
<br /> � l�
<br /> , . , , . . � . .... ".
<br /> ...__...._ . . . .... .r,�,�.
<br /> � . . , . ., ,,,,.�,�.,,
<br /> �.�:�YNF.!'.:... . � .. . - .. �. . .G.�.d'.:
<br /> . � - . �:r�-�Y'p y
<br /> ., I �l��J`� d3��c�6�� •�.�
<br /> I by ov,rner's and operatore of oimllar prope�tlea And ea Beneflciery may reqwre for iis protaction. Truttftur wlil cuiiiNly �-
<br /> 1 with auch other requlrementa es Beneflctary mey from tlme to tlme requeat for the protectlon by Insurence of the R
<br /> i Interest of the respoctive pertlos. All Insurance pollclea melntalned pursuant to thls Oeed of Truat ahatl n:�me 7ruator
<br /> I and Beneflclary as Insured, as their respective interest may appeer end provlde that there shall be no cancetlatlon or '-
<br /> � modlflcetlon wlthout flfteen (161 days prlor wrltten notlflcetlon to Truatoo end Beneflcl�ry. IN the evt�nt eny pollcy
<br /> hereunder ts not renewed on or before fltteen(161 deys priorto its expiretion data, Yruatee or Beneficiary niay procure „
<br /> auch tnaurence In accordnnce wlth the provlsfone of Persgraph 7. Trustor shell dellver to Beneflclary the orlginel
<br /> , pollcies ot fnaurnnce end renewels thereof or coples of such pollcles end renewels thereof. Fallure to furnleh such _
<br /> �� � ., I Insurence by Truator, or renewats es requleed hereunder, shell, et the optlon of Beneflciery, conotltute a defeult. All
<br /> uneerned premiums are hereby esslgned to Trustee as additlonel securlty, end e sale and conveyAnce of the Property
<br /> ; by the Truatee shatl operete to convey to the purchaser the TruRtor's Interest in and to ell pollcles ot insurence upon
<br /> the 1'rust Proper4y.
<br /> 6. Texea and Aeassamonta. Trustor sh�ll pey all taxes end speciel assessments levlaai ar essesaed aqainst, or :, � -
<br /> due upon,tho Property before delinquency and will dellver to Beneficlary coples of recef�ta ahowing payment of cuch , _,�;�-,,;;�°
<br /> • t�xes and speciel assessments. , �". ----
<br /> 6. addltlonal Llens. Trustor shell make all payments of Interest end prfncfpal,and peyments of any other chargea, • ��ir`:R�
<br /> , � feea, Anc1 expensos contracted to bo pald to any exist(ng lien holdera or prior beneflcisrfes under any prfor Deed of .�''°`"�
<br /> ` Trust, Mortgege or other security agreemsnt, before the date th9y are delinquent and to pay any other clefm which �_� _
<br /> � Jeoperdizes the security gronted hereln. °�_��
<br /> � 7. P►atection oi Bsn�flclary's Ssaurity. Should Trustor fail to meke eny payment, fall to de eny act as hera(n •.��
<br /> provlded or if any action or procaeding Is commenced which rnaterially affuct� Beneflciary's Interest in the Property, .. "�""""°
<br /> including, but no Ilmited to, emi�ent dornaln. Insolvency, errangements or proceedings Involving a bankrupt or :• ����
<br /> ` � decedent,then Beneflciery or Trustee, but without obligetion ta do ao,and wit�out notice to or demand upon Trustor, " "__ -
<br /> �' �„� and wlthout releasing Trustor from eny obllgotlon hereunder, may make or do the same, and may pay, purch�se, . :;�•
<br /> .y . I cnntest or compromise andy encumbrance, charge or lien,which in the judgement of either appeara to affect s�icl . u'�
<br /> '�'.` � Property;(n exercising any such powars,the Beneflcfary or Trustee may incur a Ifebility end expend whetever emounts, 4.. :.+`__.—
<br /> � including dlsbursements of reasoneble ettorney's fees, which in their absolute dlscretion may be necessery. In the �`•='�!`��' �
<br /> _ . _J � ������
<br /> � event thet Trustor shall fait to p�ocure insurance, fall to pay taxes and speclal assessments or fafl to meke any a�'�t*,f�, �
<br /> � peyments to existing or prior Ilen P�olders or benoficiarles,the Beneflclary may procure such insurence end make such
<br /> peyments. All sums incurred or expended by Seneficfary or Trustee In accorde�ce wlth the provlsfons ot the ueed ov ._
<br /> ; Trust ere secured hereby end,wlthout demand,shell be immadiately due and payable by Trustor and shall bear interest �
<br /> � at the rete provfded for advances under the Loan Agreement;provfded, howover,thet at the option of the Beneflciary "`�•
<br /> . q or 7rustee, such sums may bo added to this prfnclpal balence of eny Indebtedness secured hereby and shull beer the �°�
<br /> � same interest es such indebtedness end shall be payablo ratably over the remain(ng term tfi�ereot. ti; '
<br />- � 8. Asstgnmc�t of Rsnto. Beneficiary shell heve the rtght,power and authorlty during the contlnuanca of this Qeed �l
<br /> , of Trust to collect the rents, issues end profits of the Property and of any perEOnal proFerty located thereon with or "_
<br /> � w(thout taking possession of the Property affected hereby,end Tnastor hereby ebsolutely and uncondltlonally easigns .
<br /> • ' all such rente,lssues end proftts to Beneflciary. Beneflclery,however,hereby consents to the Zrustor's collection and
<br />_ � retentiqn of such rents,Issues and proifts as they accrue and 6ecome payable so long as Truatar(s nat,et such time, �_� -- -
<br /> In default wlth reopect to payment of eny IndebtedneES securod hereby or In the performance of any egreement ��
<br /> _ . hereunder. Upon any such default, Beneticlary mey et eny time, efther in person, by egent or by e recelver to be
<br />_ - eppointed by a court, without notiae end wlthout reperd to the adequacy of any securlry for the indebtedness heroby —
<br /> � secured: (a) enter upon and teke possesslon of the Properry or any part thereof and tn Its own name aue for or --
<br />- otherwlse collect such rents, fasues end proflta, Including those pest due end unpald,an epply the same, less costs =
<br /> and expenses of operatfon end collection, including reasonable ettornoy feea, upon eny indebtedness sacured hereby -
<br /> _ • end In such order as B�eneficiary may¢iete�mine: tb) perform such ecta of repair or protectlon aa mey be necesse��}p oT e;,��„�
<br /> - ' proper to conserve the velue of the Property:(cl lease the seme or any part her�of for such rental term end upon suc�a
<br /> condittons as its judgment mey dictete. Unless Trustor end Beneficfary agree otherwlse tn writing,any applicetlon of �•.,— rn��
<br /> - rents,lssues or proflts to eny Indebtadness secured hereby shall not extend or pastponothe due det�of the Instellment
<br /> „ � �• ��a:R_._�:
<br /> • payments as�rovided ln the Loen Agraement, end the epplicetion thereof as aforesald shall not waive or cure eny �__ - ��•
<br />—. , f, default or r�otice of defeult horeunder or invalidate any ect done pursuant to such notice. Trustor also a�signs to �"'�� ��
<br />, �� f Beneficlery, as further security for the performance of the obligatlons secured hereby,a!1 prepeid rents and all monfes '.� �1�
<br /> ' whlch may heve been or may hereafter be deposlted with said Trustor by any lessee af the Pro�seriy, to secure the �-
<br /> � , �_ payment of any rent, and upon default In the performance of eny of the provislons hereof, Trustor e rees to deliver � �'��''
<br /> '�.,• ;'._-.
<br /> 9 ' '•��..``�.:=_:::.:: . .
<br /> _ � such rents and deposits to the Beneficiery. Delivery ot written notice of Beneflciary's exercise of the rights granted �;�;,;,;;^�,K}�,; ,:,,
<br /> a,..,..,. .,_...
<br /> herein to any tenant occupying seid premfses �hell be sufficient to requlre eaid tenc�nt to pey seld rent to the �� ��.�.rx. ;�
<br /> , Beneficiary until further notice. .' .
<br /> � � 9. Conds�nnetion. It tide to any pert of the Property shell be taken fn candemnat(on proceedings, by rlght of ,. . .,
<br /> , ,;.; eminent domain or simflar ectfon, or shall be sold under threat of condemnation, all awards, damages end proceeds •
<br /> � ere hereby asatpned end shall be peid to Banuficiary who shell z(�ply such award,dameges and praceeds to the 3ums �
<br /> • secured by the Deed ot Trust,with the oxcoss, if eny,paid to tho Trustor.
<br /> - 10. Future Advencea. The Loan Agreemont provfdvs for advences from tlme to tiene to TruBtor by Benoficiary .
<br /> as provlded therefn. In addltion, upon request of Trustor, Benoficiery, et Beroeflciary's option, priar to reconveyence
<br /> -- - - _-,- _ _
<br /> _ — I - -- -
<br /> of the Property to the Trustor, mny make additional future edvences to the Trustor. Such future sdvences, wlth
<br /> interest thereon, shall be socured by this Deed of Trust when evidenced by promissory notes stating thet said notes
<br /> are securad hereby; provided that at no time shell the secured principal end future advonces, not i�icluding sums I
<br /> advencad to protect the security, exceed ono hundrod percent (100%) of the original principal amounts secured
<br /> I
<br /> hereby. ! '
<br /> 11. Remedlea Cursnulative. All rernedies provided in this Deed of Trust are distinct end cumul�tiv�t to eny;other I .
<br /> right or remeciy under this Deed of Trust or effordad by law or equity, end mey be exercised concurrently,
<br /> independently or successively. �
<br /> 12. Accderetfon; Remedfea; Sele. A defautt shall exist in tho event ot: � ��
<br /> — (A1 Any fraud or misrepresentetion by the Trustor in connection with the line oi credit which this Deed of Trust i
<br /> , secures;
<br /> I
<br /> � � sisa aos•z j '
<br /> � , L
<br />
|