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<br /> � or obsotete.Provided that sur]i pe�sonal pmgerty is replaced with oth�r personal propeny at reast eq�'�i°��� - � �+..�.
<br /> � �� P�� P�P�Y� free fmm atty ti@e retentIoa device, seauity agr�t as other enaun�raace. Sucb ' :' �
<br /> . ` �pla�t of persanal pmperty ai1�16e aeemed subject to the securiry inte�est created by this Deed of'Fnut.Tnutor shail =�-. . -
<br /> � not partiotoa or subdivide the propcny arithout Beneficiary's prior weitten consen�Beneficiary or Benefrciary's ageuts <.< .:. . `.
<br /> ' . . may. at Eeuef�iary's optton. enter the property st any reasanable time for the putpose of iaspecting the Pro�erty.Aay • ` .
<br />_ ..� iaspecdou of the Property shall be ent�rely far Beaeficiary's beneSt and'I'n�swr w71 in no way rely on Beneficiary's . , �
<br /> , . ° inspection. "4. •
<br />- �';._?.: 13.A[3THORITY TO PERFORRR.If Tmstor faiLs to perfoim any of Tn�stor's duties uader this Deed of Tn�st,or any other �. • ', `
<br /> �<. ';:.-;--�- awrtgage.deal of tivst,security agreement or other lien document that has priority over this Dced of Tms., Beneficiaryr �
<br /> '--<-:�_-=_=, may,without notice.Perfarm the d�:ues or cause them to be perfotmed.Tcustor appomts Beaefciary as attomey in fact to
<br /> � . � sign Tntswr's name or pay any amount necessary for perfo�. If any constnictioa on the Pnoperty is disoondnued or
<br /> • not carried on ia a reasonable manaer,3enefciary may do whatcwer is necessary to pmtea Fenefciary's secaciry i�erest ,.
<br /> i� . ' ` in the Prnperty.'Ibis may iaclude compteting the consuaction. , .
<br /> ' .. ' ' � Beaeficiary's right to perform for Tnuwr sball not create an obligaston m perfoim.and Beaefrciary's failure to perfoim . ,
<br /> . ' , w�71 not preclude Beneficiazy from exercising aay of Beneficiary's otber rights under the law or this Deed of Tnut.Any . ... -
<br /> . amormis paid by Beneficiary for insuring. Preserving or othern►ise pmtecting the Property and Benefcciary's security , . �. �_ -
<br /> inte�st wiU be dae on dem�d and w�l bear iutereat fmm the date of the paymeat unril paid in fnll at the interest rate in --
<br /> , ,� effect from tims to time a000rding w the te�s of tlie Evidenoe of Debt. •<� -
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<br /> , ` ' . 14.ASSIGNMLN'�OF LEASES AND RSNTS.Tnutor irievacably granu.comeys and seUs as additional security all tite -
<br /> t •. rlght,tifle aad'mter�st in and to any ahd all:
<br /> _ . A. Exist�ng or future leases,subleasrs,licenses,goaranties aad any other written or verbal agreements for the use and .. --
<br /> �. . occup�cy of aay portion of the Ptopecty.including aay extensions,reaewals, modifcations or substiwtions of ;.
<br /> ;'. �.; suc3i agreements(all referred to as"Leases")• ...' _.,.¢
<br /> - B. Rents.issues and pm5ts(all refetred to as°Rents"),inclQding but noi limit�w security deposits.minirrmm renL, � -
<br /> `r . �; FercceataSe rent, additional nent, common area mainienaace charges, ParkinS c�ges, real estate taxes. othes _'rt•�l ` =___-
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<br /> ,'�. , n. . _ appllcable taxes, ;n�+�•Ansp praniwn contriUutions.l�quidaied damages fouowiag default, cancellatian premiurns, - � :k—
<br /> "loss of rents"insarence,sevemses.royalties,pmce�ds,bonnses.and all rights aad claims which Tmstor may have �'. "e"—
<br />=i.�; - `.�� that ia any way pertaias to or is oa accouat of the nse or occupattcyr of the whole or�ty part of the Property. ' � ;�_-�.
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<br /> .. '�f Tn�stor will promgUy pmv�de BeaeficIaiy with une aad eomuc copies of all exisdng and futuse Leases. Tnlswr may -
<br /> collecx,reoeive.enjoy and use the Rents so tong as Truswr is not in defaalt.7Yustor will not collect ia advauce a�►Rents
<br /> ` �` � due in fi�wre tease periads,�tess'hustor first obtains Benefic�ary's writtea consent. Upon def�lt,Tnutor wiU�ceive - _
<br />-,,� -: any Rents In uust foz Beneficlary and 7Yustor w�l uot commingte the Rents with aay other fiuWs.Aay amounts wllected '';—
<br /> . ,:; shall be applled ai Beneficiary's discredon w paymenis oa tlie Secnied Debt as theretn provided,to wsts of managing the . —
<br /> ��;; � � �P�S►, inclading, but nat Iimited w, ail t�es,assessments, insurauce premiums,repairs,and commiss�ans ta ieastat ----_---`.;:.°° =
<br /> , . � ageaas.and w any other necessary related expenses lacluding Beneficiary's attomeys'fees,Paralegal fces and conrt costs. . >��'`-- -
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<br /> :,,'`� . � Tmswr acknowledges that this assignment is perfe�xed upon the recording of this Deed of Tmst and tbat Beneficiary is :,:.s, .:�::r=;,�
<br /> ' �titt e d w no ri f y aay o f Tn�swr's te�nts w m a ke paymen t o f sen t s d ae or w besome due to Benef c i a r y. Howeves,
<br /> , � , _ ,4; Beneficiary agrees that only on default will BeQeficiary norify Tn�stor aud T:astnr's tenants sud make demand that all __—__
<br /> . ' . futuse Rents be paid directty to 8eneficiary. On receiving the nodce of defauU, Trustor wil} endosse and deliver to —. .. - _
<br /> . . BeneSciary anY paymeats of Reat in TsasWr's possession. +�:`s.
<br /> -- �� Tn�swr covenants that no default exists under the Leases or any applicable landlord laa.Tnsstor also wvenants and agrees � ` ��`'
<br /> � to maintaln,and to require the ten�ts to comply with, the Leases and any appl�cable law.Trustor arill pmmptly notify . •_ ' __:
<br /> . , l BeaetIciary of any nonco�pliance. If Tmstor neg�ects or refuses to enforce corapliauce with We terms of the Leases,then . __
<br /> a:� � � Beneficiary may, ai BeneSciary's op6on, eaforce complisuce. Tnutos arill obtain Beneficiary's written authori�ation , • � ' . ,s�
<br /> _�,.; � befose Tn�stor cansents w sublet, modify,cancel,or othetwlse aiter the Leases, to accepi the surrender of the ProP�Y. ., �`�_
<br /> ',,.� . covered by such Leases(ualess the Leases so require), or w assign,compzomise or enaunber the Ixases or any fnture �•`� � --_
<br /> - Rents. Trustor will hold Beneficiary harmless and indemnify Beaeffciary for any aud all liability, toss or damage that , . � , •
<br /> •: ��a Beua�ficiary may Incnr as a conseqaencc of the assignment under this sectian. .
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<br /> , � l5.CONDOM11vIUMS; PI.ANNED ZJIVIT DEVELOPIV�NTB. If the Property inciudes a unit in a wndomininm or a -
<br /> , ', plaaned nait deve2opment,Tnutor will gerform all of Trustor's duties uader the covenanis,bydawa,o:re�ulatians of tite ,
<br />-�,:. + � ' condominium orplanned unit development. � ' ...r�
<br /> ' .'. ' 16.DEFAULT.Tzustor will be in defauit if any of the following occur: , . �
<br /> A. Aay party obligated on the Secured Debt fails to make payment when due; � :�•
<br /> -� ,, B. A breach of any tem�or covettant in this Deed of Tnist, any prlor mortgage or any conswctlon loaa agreentent, ' . . . ';
<br /> ."�� �. security agreement or any other document evidencing,guarantying. secauing or otherwise mlating ta the Secured �. . � ' �'•`
<br /> � � Debt: � � `.
<br /> C. The making or famishing of any verbal or written representation,statemeat or watranty to Beneficiary that is false
<br /> : _;;� or iawrrect in any materlal respect by Trustor or any person or enHry obligated an the Secured Debt; .
<br /> D. The death, dlssolution, appoinmient o�f a recelver for,oz applicatlon of any debtor selief law to,Tnutor or any '
<br /> . person or entlty obligated on the Secured Debt; :
<br /> . �' . B. A good faith belief by Beneficiary at any time that Benefciary is inseaue witb respect to any person or entity � �
<br /> - : i obligated on the Secured Debt or that the prospect of any payment ia impaired or the Property is impaired; � . � �.
<br /> . F. A material adverse change�s Tmstor's businPss including ownership,management,and financial wnditioas.whish . •
<br /> . ;' �� Beaef ciary in�ts opinion believes impairs the value of the Property or repayment of ttte Securad Debt:or ,
<br /> r� � i G. Any loan procceds are used for a pwpose tLat will wnttibute to excessive erosion of highly erodible land or to the ��
<br /> I conversion of wetlands to produce an agricuitural commodiry,as Porther explained in 7 C.F.R. Part 1940,Subpart
<br /> 3,� � G.Exhibit M.
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<br /> i 17.REIVIEDIEB ON DEFAULT. ln some instances,federal and state law will tequire Beneficiary to provide Trustor with _ .
<br /> - � I nouce of the right to cure, mediation noiices or other notices and may establish time schedules for foreclosare acrions.
<br /> Subject to these llm3tations, if any. Benefic'tary may acceleratc the Secured Debt and foreclose this Deed of Trust ia a � -
<br /> - � manner provided by law if this Trustor is in default.
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