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<br /> by owner's and operators of s4milat propereiss and�s Bsneficiary may require for its prQtection. Trustor will comply �t .-_.�-
<br /> wiYh such attaer rmquiremants as Bsneficiary mey from time to tim�regusst far the protection by insurance of the � _ . �, ��"f
<br /> irrterest of the respoctive parties. QII insurance po!!cies m�inteined pursuant Eo this Deed of Trust shail name Trustor • � '��
<br /> �.
<br />� - ond�aneticiary as insured,as their respective interest may aQpear end provi�a that there shail be no cance!latio� or � � - - , -==':�._ -
<br /> • modifica4ton without fifteen 1151 days prior writien notiflcaUon to Trustee end Beneficiary. W the event eny policy . • ���
<br /> hereunder is not renewed on o�before fifteen i 15)daya prior to its expiratfon date,Trustee or Beneficiary may procura � ' • • ,�
<br /> ' such insurance in accordance with the provisions of Paragreph 7. Truator shall deliver to Beneficiary the orlgir�al , '.�:, ,
<br />-- policies of insurartce and ronewals thereof or copies of such polict�s ond renewels 4hereot. Failura to fumish such • � . ;,� _
<br />��- insurance by Trustor,or renewals as required hereu�der,shall, �t the option of Beneficiary, constitute e defsult. All �.,.
<br />� ��� unearnad premiums are hereby assigned to Trustea as edditiona! security,and a sale and conveyance of the Property - ; �� ` `
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<br /> by the Trustee shall operate to corney to tfsa purchsser tha Trustor's interest in and to alI policies of insurance upon . •'��� _
<br /> , ,. .r.�
<br /> . . the Trust Property. • •�
<br /> 5. 7a�css end Asaessmsnta. Trustor shalf pay all taxes and specia!assessments levied or as�essed against, or , - .�:�_��,�
<br />;f;'. ' due upan,the Property before delinquency and will deliver to Bene4tciary copies of re�►ipts showing payment of such � - ' , �•��'.• F =
<br /> • .,y.-':.'�l4�'riii,-
<br />>;�;`.� . texes and special assessments. � r '.-1��;��:
<br /> _ 6. AddWonai Lfens. 7rustor shall make at(aayments of interest and principat,anrl payments of any other charges, ��; ` � �;;.�,__
<br /> f88S, end expenses COntracted to be paid to any existing lian holders or prior beneficiaries under any pnor Oeed of �'T� • _ _
<br /> � Trust, Mortgage or other s$curity agreemant,before the data they are delinquent and to pay any other claim which ` -� �' __
<br />_ •- jeopardizes the security graMed herein.
<br /> • 7. iProtacdon of Beneftciary'a Seeucity. Should Trustor tail to make any payment, fail to da any ace as herein ����`'.::
<br /> . � t. .-r..-=_-
<br /> �r provided or if any actIon or proaeeding is commenced which materially affects Beneficiary's Inmrest in the Qroperty, : - -
<br /> ` including, but no Icea�ited to, eminent domain. Insulvency, arrangements or proceedin9s invotving a bankrupt or � �� '�Y•
<br /> zs� -
<br /> decedent,then Bertc��ary or 7rustee,but without o6ligation to do so,and without notice to or demand upon Trustor, `. ;r�e.��.,�:;F�� .
<br /> - and u►r�thoui releasing Trustor from a�y obligation hereunder, may make or do the sarne, end may pay, purchase, _ _'«{� ,•�.�.,�`=w-�°
<br /> contest or compromise andy e�c�crr.brance, ehargs or lisn,which in 4he judgement of either appears to affect said ;'•`;
<br /> ' Pro •in exercisin eny such�'uancers,the�aneficiary or Trustee may incur a liabili2y and expend whatever amout►ts, � �.���.� '.� �
<br /> . . PertY.
<br /> including disburserr«ts of reasonable at4orrcy's fees, which in thair absolute dlscretion may be necessary. In the y.��-�� �'r'
<br /> event that Trusto� shall fail to procure insurance, fail to pay taxes and special assessments or fail to make any �r ..;•i• ' .; �
<br /> payments to existing or prior lien holders or beneficiaries,Ehe Beneficiary may procure such insurance and make such -. •
<br /> � ' paymants. Ap sums incurred or expended by Beneficiary¢r Trustea in accordance with the provisions of the Deed of �r�� �•'-�� ; ?b'`
<br /> '' Trust are secured hereby and,without demand,shall be irre�sr.c�d3atety due and payabte by Trustor and shall bear interest ' '' : �; -�
<br /> et the rate providsd for advances under the L�can Agreement;provi�ed,. however,that at the a�acictn of the�eneftciary • `�•�� 9 .-
<br /> :; ,,.;. .
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<br /> � � or Trustea,such s�c�may be added to t�is(�ri�tclpal balance of an�u�biedness secured hereL�y and shall beer the �;;';.�l�y;.<<��'��,��,`-���•
<br /> same interest as s��tn indebtedness and sha71(vH payabl0 ratably ov�3�ra remaining term thereof. _- t-"'�"---'
<br /> � " ':, '�,.,..�;.
<br /> , 8. Asatgnment of Rent�. Beneflciary sh.�:1 have the right,power ar.�authority during the continuance of this Qeed �� .�� .' ,��� •� .: �,;,-
<br /> of Trust to coflect the rents,issues and profits of the Propetty and ef any persc::-��R►operty located thereon with or �. .'�.{.; ;__•.:�••_-
<br /> without taking possession of tha Property affreeted hereby,end Trus�or hareby absotutely and anaonditlonally assigns *ri��.' ' ' -1',�,,., . --
<br /> � :�!, �
<br /> all such rents,lssuea and proffts to Beneficia�y►. Berteflciary,hovveL�,'h�reby aonsents to the'Trus4or's cotlectton and R�:r�;;��:r•:
<br /> �� retention of such rents,issues and proflts ss t�eey accrue and become payable so long as Trusfor is not,at such time, �c '��=��;
<br /> in defauit with respect to payment of any indebtednoss secured hereby or in the performance of any agreement ���
<br /> �:�;. �.:�.i.:,.,::
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<br /> , ;,�.• hereunder. Upon any such dafault, Beneficiary may e¢ar.-r,r time, either in person, by egont or by a rec2lver to be -�-:���
<br /> eppointed by a court,without notice and wiihout regar�.a the adequacy of any security for the indebtedrt�hereby ^ _ :��=--�
<br /> secured: (a) enter upon and take possessimn of the Property or any part thereof and i� its own name sue for or �'�"'""'--�w,;s,��,___
<br /> othervvise collect swch rents, issues and pro�iis, including those past due and unpaid,a�eppty the same,less costs ;r_ _-
<br /> and expenses of operedon and collection,lncluding reasonabte attorney fess,upon any indebiedness sec�re�hereby ' - °��� �-
<br /> .�,.� . and ln such order ea Beneflcis.�► may determine: (b) perform sucfi acts of�epair or�nr�tection aa may be n�sary or ,���,-....,..__:�_—:
<br /> proper to conser�+e the vatue of tP�e Property:(c)lease the same or any paR he�em4$�T such rental term artd cf.�nn such "�. _ •��
<br /> conditions as its jud�ment may dtcta4e. Unlass Trustor and Benoficiar�agree otherwise i�wrtting,eay epplicatiare ef �}'^-'�.:�°
<br /> b shall not extend or ost onethe du��ctte of the instellrteent ��; � �
<br /> rents,Issues or prc�'iYa to eny indebtedness sc�aered here y P R °"�:�-�-�
<br /> ' ,.'- ^` -�.�.� �.
<br /> - payments as provided in the Loan Agreement, and tha application thereof as eforesafd shall r,ot walvo or cure any �����
<br /> dsfauit or notice of default hereunder or invalidate any act done pursuant to such notice. Trustor atso essigns to _ �� ' ���--�- .,
<br /> Beneflciary, as further security for the performance of the obtfgations secured hereby,ell prepaid rents art��;I monies �''-��`""`�`�;--•
<br /> •� which may have been or may hereafter be deposited with said Yrustor by any tessee of the Property,to sscure 4he �.;F�..�`~���4��i`M1-,
<br /> • payment of any rent,and upon default in the performance of eny o4 2Qts provisions hereof,Trustor agrees to delivc:r ��',;,t,�a�;,�,�;;,j�
<br /> ' such rents and deposits to the Beneficiary. Delivery af written notice of Beneffciary's exercise of the rights grantad •�,,.:.:..,��,�:..���:,..U. �
<br /> • here;c� r,m any tenant occupytng seid premises ahell be sufflcient to require sm:fl tenant to pay seid r�r�t to the ! �;�d<'4.�+���_- `_`
<br /> il ''.:�2�,�i:.'���.�3'u:4., ..' _.
<br />' � Bert���x��ry until further.notice. z � �.;`:-
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<br />- ;;�,� �. �ondemna4lon. (f title to any port ot the Property shafl be tutcon in c�rtc9emnation �roceedings, bV�19ht ot _ . x�'� �?"-�
<br /> ' ;�s• am;n+snt domaln or slmilar ectfon, or ahall be sold under threat of cortdamnation, all awards, damages and proce��s ` ''�� '-'• :-'�.'?��H'.•-
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<br /> • era I�aresby assigned and shall be paid to Beneficipry who shatl appty sucfi award,damages and proceeds Yo the sutrts .',,�',,��;.�v;:_�t�-�..s,�.;,� -���'"
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<br /> seaurc�rt t�y the Deed ot Trust,with the excess, if any�patd to the Trustor. •,:::�.��ti, � �
<br /> � Sm. Futur�Advances. The Loan Agreement providns for advances from time to time to Trustor�ay Etvnoiicisr� �'�.,ti`'•�� . � '•�
<br /> •. as provided therein. In addition,upon requeat of Trustor,Beneficiary, at Beneflciary's option,prlor to re��n�ay�:�a� ", . ' ' -
<br /> � of the Property to the Trustor, may mek� additional future advances to the Trustor. Such future adv�nces, wt�� � , �
<br /> interest thereon, shall be secured by thls Daed of Trust when evldenced by promissory�otes stating that said not;s + •
<br /> . � ..:.;u.;•. •..,� � ---
<br /> • are secured hereby; provided that at no tUne shall the secured principal and future advances, not inc�uding sums .,.,��; —
<br /> advanced to protect the security, exceed one hundred percent (100%) ot the original principal amounts secured � "f�:�`��` , '�,�'�'•�`
<br /> • hereby. ' ' ."„' —
<br />� 17. Remedlea CumulaUve. AN remedies provided in this Deed of Trust are distinct and cumu�tive t6 eqy,other •�'?��': _
<br /> � right or remedy under this Deed of Trust or afforded by law or equity, and mey be exerc('sed concurrently, . . � «••-
<br /> independently or successively. '. =
<br /> . 12. Rccctora4ton; Romodian;Ss1o. A default shall exist in tho event of: , � • _
<br /> (A) A�y freud or misrepresentation by the Trustor in connection with the line of credit which this Doe�.of Tsust ._• : .
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<br /> socures: •.
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