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<br /> 2Q. Ewrtt+ol ad�ult. Eech ol me/nllowlnp occurrenres shap constirota en ovent ol default heieunder,lhereinalto�called en 'Evenf af •
<br /> Defeuit'l: '�
<br /> fel��us�or shal!/ai!fo pey whon duo any p�i�Cipal,Interest,or p�mcipel end intorost on the Indobtednnss, _
<br /> (bl Any werienty ol tltle mede 6y Trusto�herein shal/be unt�ue, � _
<br /> fcl Trusfor shell feil to observe or pedorm eny o1 the covenents, oproanonta,oi conditinns in this Doed o/Tiust, or an behall ol � . _
<br /> � ldl Any repiesentetion or wanont y mado 6y Trustor on any linencis/sfatemonts a roports submitted to Bene/icinry by � �
<br /> Tiusfa shall prove/else or materielly misleeding, � -
<br /> fe)7�uslor shaf/feil to parlorm or obsnr%eement,/loan ey�eement,l�naecing stetement.nor any o I eeegieement�lastiume t,or document ny ' �
<br /> � � 6u!/dnp loen agreement,secuiity ep a ;"-
<br /> execurad by Tiustor in connection wifh the loen evidenced b y rhe Note, �
<br /> I (iJ A tiwtae,receivei o/llquideto/of the Tiust Propeity oi o1 T�usfoi shnR An appointad, or an y o/the c�editors ol Trustor shall/!le e �
<br /> 1 pedtbn !n bankruptcy egainst Trustar,oi/or Ihe ieorganitetion o1 Truator pursuanr to the federal Bank�uptcy Code,or any similor luw, �
<br /> wheihei►edeiel or state,end!1 such order or petitlon shall not be dJscheryed or dlsmissed withln thlrty f301 days afte►the date on
<br /> whlch such order o�petition was 1!led,
<br /> � , !yl Tiuslor shel/file a petltlon pursuant to the Federa!Benkruptcy Code or any slm!!ar lew,federal oi state,or!1 Trustor shall be adjudped "
<br /> � a benk�upG or ba declared lnsolvent,or shall make an esslynment/or the benelit of ciedifa►s,or sha//admlt!n writlny!ts lnabl!!ty to : .. �
<br /> psyirs de6rs as they become due,or shalf consenr ro the sppo/ntment ol a�ecelver o101l or any part ol the Tiust Pioperty, . I
<br /> !hl�naljudyment lor tho payment o/money shall be iendo�ed eyelnst Tiustor and Tiustar shall not dlsche�ye the seme,o�cause!t to be • n��,-
<br /> .iiA��r:_,
<br /> ' discharyed, wlthln thlrty f301 days n/tei fhe enby�h ed 6esed, a'r enteredeend secuie o st y olt xecu!!on pendlny such ep��,on �='�'�
<br /> 1 which o�pursuant to which ssld%udgment was giant , ,j�-�;•�„,,�
<br /> I !il Truslor sha//sell or convey the Trust Property,or any pert thereol,or enylnterest thereln,or shall be divested beln9/lr,st hadnend terest x
<br /> � I the�ein,!n eny manner or way,whether vo/untarJly or lnvolunferi/Y,without the wrltten consent ol8ene/iclary B
<br /> � obtalnBd,oi
<br /> r 111 N Tiusror ls e corporatlon or parmershlp and more then lilty percent(80%I ot the sheres ar be»eAcie/interests In such corparatlon or ''..J�
<br /> I partneishlp,as the case may be,shall be translened o�wnveyed,whethei voluntailly ar involunterily,without the wrltten conaent af +.4` _
<br /> �j 9ene/iclary hning flrst hed and ohtsined. � ;� _
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<br /> } 2 y,Acc�Nr�t/on o/O�bt;Fonob+un. Upon the occunence ol an y Event o!Default,or any tlme therea/ter,8ene/!clery may,at its optlon,
<br /> declare ell fhe Inde6tednsss secured here6y immediately due end paye6le and the same shell beer lnterest at the de/ault iete,H any,set/oRh in
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<br /> , the Nofe,or othen�vlse et the highest iate permittod by law, and, inespective of whether Beneflclery exerclses sald optlon,!t meY at!ts opNon ;;_^
<br /> ? and!n Jts ao%disc�etlon,wlthout eny/u�ther nodce or demsnd to or upon Trustor,do one oi more of tho lollowing:
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<br /> :; !el Benellaiary may enter upon, take possossion ol, manege and ope�ate the Tiust Pioperty or any part theraof;meke repa/is and ' 4'�,=,
<br /> ° e/tereflons and do any ects which Benoficiary deems propei ro protecf the security thereof,and either with or wlthout teklny : ,
<br /> . �:i possession,in its own name,sue lor or otherwise col/ect and receive rents,issues and profits,lncludlny those past due end unpald,and cr,'
<br /> apply the same,/ess costs and expenses ol operetlon and cotlaction,!nc/udiny reasoneble ettomey/eas and 8ene/lcJery's costs,upon the ����'''��,.
<br /> t lridebtedness secured hereby and in s�of theBTiu t PraBler a whlch hasBbeeneremoved. The ent�ny ulpon andr takJny hpo,ssasslon o/lhe �":�.�.i, .�,,._
<br /> ... ; shaGmake avallable to Benellc/ary any P Y ,"
<br /> 'f � Tiu�t Ropeity,the cal/ection of an y rents,issues and p�o/its,and the app/icatlon thereof es a/aiesaid,shel/not cuie or waive any de/eu/t j-, :$F.�,Y
<br /> s;f
<br /> _ { theretolore or thereatter occmdng,or aHect any noUce o/de/aulr or notice o/sele hereunder or inva/Jdate any act done pursuant to any �
<br /> such noNce.Notw�thstanuing Benefieie,ry s��ntlru:.nc�!a�s°eeo%r�..nealp�and appllcatlan ol rents,lasues or prollts,Benollclsry shsp — _ .�;
<br /> be en[ltled to exerclse every dDht provided/or!n this Deed ol Tius[or by/aw upon o►elte�the occurrence of en Evont af Deiauli, �`�
<br /> " Includlny the dyht to exerclse the power oi sale.Any of th e actlons re%r�ed to In thls parepieph may be taken by Beneticlary at suoh dme _�
<br /> as Bene/lclary maV determine wlthout ioperd to the adequacy of any secuiitY 7oi the lnde6tedness secured here6y. �};�:
<br /> e Ib!Bnneficlary shall,without reya�d tu�dlc�on,�without noNce,�to fake possession of,protect,endBmaneDe thelTiust Piaperty and op�ePe y.'
<br /> + ol a recelver by any comt having! .�''
<br /> th�same end collect the rents,lssues and pro/Jta there/rorn. '�:�',
<br /> ' Icl BonefJclary may biing any actlon in any caurt of competen t jwlsdiction to lareclose th/s Doed of Tiust or enforce eny o!the covenanta , _
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<br /> F � �d)Benef/cisry may elect ta ceuse tho Tiust Piopert y oi eny part thereof to be sold under tAe powe�o/sale,end in such event,
<br /> y• Beneflclery or Tiustee shall yivo such notice of de%u/t end no�Jce o/se%es mey bo then requlied by law. 7hareefler,upon the explietion
<br /> � ol aueh Nme end the piviny ol such notice of so/e es mey then be requlred by low, 7rustee,et the t/me end pl�ce specilJed by the noUee
<br /> ol ae/e,shell ae//auch Tiust Properry or eny part theieol specll/ed 6 y Bene(cleiy,et publlc euotion to the proceedsbjindthe/o/!owlny osder.•I
<br /> � rnona y ol the United Stetes oJ Americe.Upon recoipt a/peYment of the price bld, Tiustee she!/epplY �
<br /> /il to th�cost end expenses oJ exerclsing the power o/sa/e end of the sale,Including but not llmited to,trustee's lees or not more than
<br /> S600.00 plus one•heH o/one pe�cent oJ the gross se%price,snd reasoneble attor�ey lees,f�11 to the Indebtedness,end IiliJ the exoass,11
<br /> ,� any fo thB porson or perdons lega/ly entlt/ed thereto.
<br /> � An cosle and expenses lncunod by BeneNclary!n enforcing any iigh[under thls Deed al 7rust,lncluding wJthout llmlteNon,abstrect o►tltle lees, —'_�
<br /> ' eppralsal/oes,piemlams/or tlt/e lnsurenee,attomey fees end cowt costs,shall be end constltute Indebtednoss secured here6y.
<br /> Zd.DutNr oJ Tru+tM. Trustoi agrees that:
<br /> �� la/ Outles and obliyations of Tiustee shall be determined solBty by�he express provisions o/this Deed a/Trust and Tiustee shell not be lfeb/e __ _
<br />- excapt foi the pedoimance o/such duties end obligetions as a�e�pocl/ically set/orth hernln,and no!mp!!ed covenents or obfipatlons shall
<br />= r berrnposed upon Trustee, _
<br /> t fb/No prov/slon of th/s Deed of Tiust shel/iequire�iustee to expend ar risk its own lunds,or otherwise lncw sny Ilnanc/a!obpystlon/n the ;- ,_
<br />_ � pu�o�mance o/eny of its duties hereunder or in the oxercise o�any of Jts riphts or powers, -•'`•• , ��;�
<br /> fc1 irustee mey consu/t w/th counsel of its own choosiny and fhe edvise ol such caunsel shell be/u//and complete authorizetian and �;s r. i�q���F
<br /> • � I profectlon in tho respect ol eny oction taken o�suKered byif hereunder in good laith and reliance thoreon,and '�:'•;:�����`_.:
<br /> IdJ Trustee.sha/l not be lleble lor eny action taken by/t!n yood faith end reesonab/y believed by it to be au[horized or wlthin lts dlscret/on or , ,;.. L-.-�;:;z'' •;.
<br /> _ I dph ts or powers con/ened upon it b y this D�ed of Tiust. ' .
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<br /> � � 19.S�ewity Agnrm�nt�nd flxtun fAing. This Deed ol Tiust sAe//consriwte a security agieement and 7ixture li/ing under the piovlslons of the _, .��;,
<br /> Ne6reske llni/orm Commerciel Code with respect to thosv lixtuies desciibed in tho p�eambles hoieof es canstituJing e part ol the Tiust
<br /> P�operty, together with ell other proporty o1 Tiustor either simi/ar oi dissimilai to the same,now oi heree/ter located at or on the Tiust PropertY.
<br /> 30.Firturs Adv�ncsi.Upon request ol Trustor Beneficiary,at BonoflNary's option,prior to/ull ieconveyence of the Tiust Propetty by T►ustee to ,
<br /> Trusformey mako/utme edvenr.es to T�ustor.Such luture advances,with interest thereon,shalf be secu�ed by fhis Deed o/Ti«st.At no time
<br /> shel/the princlpal emount of the Indebtednass socured by fhis Deed o� Tiust,not including sums advanced to protect the security,exceed the
<br /> tata/sum al S 162 00 .00 . Advancos oldisbursements mode by Beneticiary to protect thB security,unde�tha torms _
<br /> ' hereoJ,whils discretionory,shell not be deemed to be optiona/edvances.
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<br /> _ � 31.R�conwy�nc�. Upon paymont ol aH lndebtodnoss secured by this peed oi Trust,8ene/iciery shsll request Tiustee lo ieconvoy the rust
<br /> . ..___w.__._...��e........ra..ti:e nood�►r.��.�r nnd nll notes wvideneinA lndebtedness secured by thls Deod o/Tiust to Trustee. Trustee sha!l
<br /> .�,.r.o,,,o..�........_...._..__. ... . . : ..--_-_— -
<br /> �oconvey tho Trust Propeity without wanunty und without chaipe M the person v�persons legally enhNed thoroto. Sucn person or persans siro1� i
<br /> ' pay o!1 costs o{recordetion,I►any.
<br /> 32. Subrtkufs Troitse.Bone/icia�y,et rts option,mny liom nmo to i�me romovo Tiustoo ond eppoint o Successor Tiustoo to any Tiustee i
<br /> nppoinfed haraundor 6y on instrument rocorded m the county in wh�ch th�s Oood ol Trust is rocordod. Wifhout convoynttco o/tho Trust Pioperty,
<br /> ' tho Suec�sso� Tiustoe shall succoed to o/J frfle,powor ond dut�es�onlerrod upon Trustoo lre�e�n e�nd by appl�coble lnw. �
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<br /> 33. Mkcsll�neoui Rlghtr ot Bensflvl�ry.Bonel�c�eiy muy af on y firno end Irom hmo to t�mo,without notrce,consont to tho moking o/on y plot o/ I
<br /> tho Trust P�oporty or tho creation ol an�eosomont thereon or any rovenonts rostricrmp use or occupancy thereo/or ugreo m oltor or amond tho ;
<br /> � foims o/ th�s Doad o/Trust.Any pa�sonn/proporty remnimng upon�ho lrust Properfy v/tnr tho Tn�st Property hus baon possossed a occupiod �
<br /> by Benofic�ary,rts agent or ony pu�ch�sor lollowiny Trustao's saln,faroclosurn,or undor iiny daod m liou ol Trustoo's salo or lo�oclosuro,shull •
<br /> i 6a condusrvn/y prosumed to hov�bsen abnndoned by Trusfo�.
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