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<br /> - -._ _ .� or obsolete, provided that sucb gersonal ProP�Y��P��ith other personal prop�rtY at least ecjuual m ue to ttee ; • . .
<br /> ` � � ' "<` ` f� lace�! ecso�al properry, &ec from any atte raention device, seasnry agreement or other enaimbrance. S�cL
<br /> � ` • . . . �lacem�t of peisonal property wili be deemed suisject to the securiry interest ctea�ed by this Deed of Trnst.'Cnastor shalt �� '�, . � , �
<br /> so
<br /> , ' aot partition or subdivide the Pcoperty without Beaeficiary's prior written wnseat. Beneficiary or BeneScia�y's ag�is , , a �
<br /> • � ,° Uaay.at Beneficiary�s oprion, eater the Progerty at any teasonable ti�me for the p�rpose of inspecting the Properiy:Aay . �.
<br /> , � U < .
<br /> iasg�ction of the Froperty shatl be�re1y fir BeaeSc�ary's beae5t and Tmstor will m no way rely on B�eSc�ary's ".�
<br /> . � . inspecdon. . • ' , u
<br /> - ��. :` ` 13.AiTTHORiTY TO PEltFORM.If Tn�sEOr fails to pesfo:m any of Tmstor's duties under this Deed of Ttust.or any other ' `.<
<br /> _ . _ `_ mortgage.deed of uast,security ag�e�t�o��lien document that 1�as priority over thLs Dced of Tnut. Beueficiary , � `•
<br />_ -. .Y�`.
<br /> ."• may.without notice.Perform the duties or cause them to be performed.Tnutor appoints Beneficiary as attomey in fazx to , . :. _
<br /> ---- .--- - -- sign Tn�stor's name or pay any amou�necessary for perForinance_[f any coasuuction on the Property u discontiuued or _•.s:.:�- _
<br /> � not carried an in a reasonable maaner,Beneficiary may do whatever is n�ss�7�to Protect Benefcciary's security interest .
<br /> , in the Property.This may inclnde comp�eting the canstnuxion. :':{::�,.
<br /> Beneficiary's right w perform for Tmswr sHall not create an obligation to perfo:m, and BeneSciary's failure to perform } •_ . . .
<br /> ' w�l aot preclude BeaeSciary fmm exercising aay of Beneftciary's other rights imder dte law ar this Deed of Tmst.Any .
<br /> � ' amouats paid by Ee�efiaary for msaring, Presenria8 or otherwise pmtec�ing the PropertY and Beneficiary's seruiity . -.
<br /> .. � . interest will he due on demaad and w�l6ear interest from the date of ihe paymsnt umil paid in fiill at the inierest rate in . � ..
<br /> . t=__
<br /> . - �' effect from tuae to time according to the temos of the Evidence of Debt. '
<br /> ' 14.ASSIGNMENT OF LEAS�S AND RE1V�S.Tnistor iaevocably�,conveys aad sells as additional saurity all the ___-
<br /> right,dfle and interest in and w any and aU: - .4
<br /> . A. Existing or fiitare leases,subleases.licenses,guaran�ies aad any°ther wntten or verbal agreements for the yse aad �
<br />- . � � uccupaucy of auq portion of the Praperty, including any extensions, renewals,modifications or subsatutions of � ��:. _
<br />_ , � �.. :i . sucli agreemenrs(aIl refecred w as"L.�ases")• ��
<br /> ° L B. Rents.issues and pmfits(all refened w as"Re�s"), inclading bot noi limited to security deposits,minimum re�. `� t'` =,�
<br />- . .-� _ P��Se n'nt, addiuoaal reat, common a:ea mainteoance charges, Parkin8 cl�arges, real estate taxes. other :_:_ .-_�"�,.
<br /> . : applicable taxes.insuiance premium wntdbutions, liquidated d�nages foltowing defanit,cancellation premiums, . �:�{:=„
<br /> • "loss of rents"ins�uance,revenues,royaities,Pmceeds•6omises,and all rights and claims which Tnutor may have � -
<br /> •:�.�,:�-.:
<br /> � that in any way pertains to or is on accuuai of the use or occupancy of the whole or any part of the Property .: -� �t�__
<br /> % . . Tn�stor�vill promPUY Pmvide BeaeSciary with nne and correct copies of all existing and firtute Leases. Trastor�q .�.��i;
<br />- � ' co Ue�t,�eceive,enjoy and nse the Rents so long as Tnuwr is not in defaul�ltuswT will noi coIlect ia advaace aay Rents -•�-
<br /> .. . due tn fatme tease perioda, vnless Tmswr first obtains Beaefic�ary's written oonseat.Upon defavlt,Tmstor w�l receive , _��
<br /> . - any Rents in unsc for Beaeficiary and Tcnstor w�'ll not commingte the Rents with any other f u a d s.A ny amounis call�cG;d :•...��.,�,,:
<br /> � � shaU be applied at Beneflcian+'s discretion w payments on tlae Securai Debt as thereia provided,w cosu of manag'sng tR►e �':����."�:;:;
<br /> � . �!"�-
<br /> : .---- Pcopesty, including, but nat limited to. all ta�ces, assessments. insurance P�f�paralegal and oaurt casts� —�.' ""�''
<br /> '�.' • mcludin Beaeficiary s attomeps - -
<br /> agents,and w aay other necessacy►related expenses' S
<br /> , ;.��-:-
<br /> , ; Trustor ardcnowtedges that Wis assignment is perfected upon the recording af Wis Dced of Trast and that Benefieiarp is :'."r,��;.:
<br /> ,`r. .:�.:? entitled w notify any of Tnutor's tenaats to make payment of mats due or to become due w Benefcian+. However. • . .:_^;�
<br /> • Beneficiary agrees that only oa default will Beneficiary notify Tn�stor and Trustor's teaants and make demand that all
<br /> ' fnture Renta be patd directly w Benetictary. On receiving the notice of default. Trastor will endo�se aad deliver w �µ�`a_,
<br /> � , Beneficiary any+payaunts of Rent in Trustos's possession. • .j��`
<br /> Trustor covenants that no defa�ilt eaists tmder the Ixases or auY apPlicable landlord law.Tn�sWr also covenaats aad agees . � : �:'�_
<br /> � � ��' t o m a i n t a i n,a n d t o r e q u i r e the tenaats to w m pl y with,the Leases and anY aPPUcable law. Tcustor will promptly notify . .;:�
<br /> ' Beneficiary of any noncompllance.If Tn�sWr neglects or refuses w enforce compliance w i t h 1 he terms o f t he L e a s e s,t h e n ;
<br /> � geneficiary may, at Beneficiary's option, enforce compliance. Tsustor will obtaint Beaefcciary's writtea anthor�Zation ��;.�.'
<br /> �� �,:b:.
<br /> ' before 7'rustor consents w sublet, modify, �ancel, or othe:wlse alter the Leases, to aocept the s�rrender of the Property ,`;,:.� . .
<br /> . ` , , covered by such Leases(ualess the Leases so require?.or w assign,compromise or encumber the Leases or aay future ,�_, ..;,•�.
<br /> � Rents. Trustor wUl hold Benefic"sary harmless and indemnify Beueflciary for any and all liability, loss or damage t6az
<br /> .,...
<br /> inqu as a consern:�ce of the assignment under this sectton. ,� .
<br />- _ � Benefic4ary may • .
<br />",.' .. .
<br /> 15.CONDOMIIVI[JMS: PI.AIVNED UIVIT DEVELOPMENTS• If the Property includes a unit in a condomiaium or a
<br /> : ' ' : planned unit development, Tiustor will perfom►all of Trustor's duaes under the covenants,hy-laws,o�r°gulations of the , : �.
<br /> ` I ' ' coadom9nium or plaaned unit development. . .
<br /> . •. , �.
<br /> � 16.DEFAULT.Trustor will be in default if any of the following occnr: '
<br /> � ' ' A. Any party obligated on the Secumd Debt fails to make payment when due: .
<br /> ����`;�'� B. A breacb�of any term or wvenant in this Dee�:of Tmst, any prior mortgage or any construct:c�loaa agreement.
<br /> ���.;�.. se�urity agreement or any other document evidencing,guaran t y j ng,securin�or oWetwise rela�g to the Secured
<br /> : ; � Debt; .
<br /> � C. The making or fumishing of aay verbal or wrltten representation,statement or warranty to Beneflc�aryr that is false �; �' `
<br /> � ' or inoorrect in any material resPect by Tzustor or any person or entiry obligated on the Secured Debt: � ' '
<br /> :,� ;
<br /> � D. The death, dlssolution,appo�ntment of a receiver for, or applicatioa of any debtor relief iaw to,Trustor or any •
<br /> � � . person or entity obligated on the Secured Debi;
<br /> ' � E. A good faitn belief by Beneflciary at any tune that Beaeflciary is iasecure wiW respect to �y p�son or entity -
<br /> � obligated on the Secumd Debt or that ihe prospect of any payment is impaired or the Property is impaired: ' - •
<br /> � F. A material adverse chauge in Trustor's business including owaership.management,and financial wnditions,which
<br /> •S�. � Beneficiary in 9ta opinloa believes impairs the value of the Ptoperty or repayment of the Secured Debt;or
<br /> � � G. Any loan praceeds are used for a pnrpase Wat will contribute tfl excesslve erosion of highly erodible land or to the .
<br /> • conversion of wetlands to produce an agricultural commodiry.as further explained ln 7 C.F.R.Part 1940,Subpart .
<br /> � G,Exhiblt M.
<br /> '..�' 17.REIVIEDIES ON DEFAULT. ln some instances, federal and state law will require Beneficiary to provide Trustor aith �
<br /> ' '• notice of the right to cure. mediation nottces or other notices and may establish time schedules for foreclosure actions.
<br />_ � Subject to these limitations,if any, Beneficiary may accelerate t6e Secured Debt and foreclose this Deed af Ttust in a " • : ..
<br /> . ; manner provided by law if this Trustor is in default. • ,
<br /> ... . } .
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<br /> I pago 3 0l 6
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<br /> � 0 1993 Bv+ton Sys�oms.inc.S� Ga�d,NN It 800 397 23411 Form AG:CO DT hc 9��3i96 � � •
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