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<br /> • ' �proceeds7 in connection with condemrtaUon or other taking ot the F�operry or paR thereot,or for conveyance in lieu of wrtdemnation. _, �
<br /> � � �ender s4ia11 be entirtled at its option to comm�ance.appear in and prosecute In its own name any acpon or proceedings,and shall atso � , �
<br /> . be entiUed to make any oompromise or setttement in aonnection with such taking or damage.In the event any portion oi the P�opsRy is .`},
<br /> � � � so tatcen or damaged.Lendar shatl have the op�on in its sote and abso�ute disc�efion,tn ap,piy alt such pmoeeds, after deductIrn,y �,ik,`:�
<br /> � � therefmm all�sts and expenses incurred by it in oonnection with such Prooeeds.upon any indeDtedness sewred hereby and in sud� . .
<br /> '�.. . '�,r order as LenQer may determine.or w aPPN�sucfi Proceeds.aiter such deductions.to the resforadon of the Property upon such aon- ; ..
<br /> . diticns as Lender may detertnine.My appticaIIon of Proceeds to Indebtedness shatl not extend or postpone the due date o!any pay- ; . �•
<br /> ' ments under tha Nate,or cure any default thereunder or hereunder.My unapplied fiuids shall6e paid W Tn�stor. � �•;: . :
<br /> 8.Perfotmance by Lender.Upon the oxurrence of an Event ot Defauft hereunder,or if any act is taken or legaf proceeding � t �'�` . 1. �
<br /> oommenced vrAic�►materiaity affects lender's interest in the PropeRy.Lender may in its own discxetion,but without o6Ggati�n to do so, , �� :
<br /> � and without notice ta or demand upon Trustor and witi�out releasing Tnistor ftom any obtigation,da any act which Trustor has agreed
<br /> - - :;�_,..;_ but fa+led to do and may atso do any othe�ad it deems neoessary tu protect the security hereot.Tniswr shail,immediateiy upon _-, °_:,_.-':;°
<br /> �, demand thecefar by Lender,pay to lendsr ail oosts and expenses inwrred and sums e�We�ded by Lender ir+wnnect�on with the exe�
<br /> � .,� Gse by Lender of the foregoing rights,togetfier with interest thereon at the defauit rate provided in the Note,whicD shatt ba added to , •
<br /> ' � the indebtedness secuted hereDy.Lender shall not inc�r any tiabi(iry because of anything it may do or omit to do hereunder.
<br /> 9. Haiardaus MateHals.Tn►stnr shall keep the PmPerty in compliance with all appixable laws.ordinances and reguiations . .� .,,`
<br /> retating to industriai hygiena or environmental protection(collectivety refetred to herein as'Environmental Laws7.Tructar shall keep _
<br /> • :�� the p�opeity fres fmm all subshances deemed to be hazanfous or toxfc under any Envircnmenta!Laws(coltet�veh►�emed to herein �� . .
<br /> as'Hazardous Materials7.Trustor hereby warsants and represents tfl Lender that there are no Hazardous Maleriats on or under tAe ��
<br /> . . �•� Property.Tnutor hereby agrees to indemnify an�hold harmfess Lender.its dicedors,officers�emptnyees and agents.and any suoces- •-.'' -�_1�,.,^
<br /> •� s o r s t o L e n d e r s i n t e r e s t,f ro m and a g ainst an y and ail daims,damages,tosses and liabilities arising in connecdon with tl�e presence. �
<br /> use,disposal ar transport of any Hazardous Materiats on,under,from or abaut the Property.TtiE FOR E G O I N G W A R R A N T�E S A N� . _ �;;,,;:�,`�'L,
<br /> � i REPRESENTATIONS.ANO TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL SURVIVE . . _.�`'v,£:
<br /> �" RECONVEYANCE OF THIS QEED OF TRUST. ' � `9�'
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<br /> ` � 10.Assignmerrt of Rents.Trustor hereby assigns to Lender,and grants Lender a security interest in,all pcesen�futute and , —
<br /> � ' ��� �� after arising rents,issues and pmfits of the Properiy:provided that Trustnr shall,untii the axurrence of an Event of Defau[�hereurttler, �i�c
<br /> � �� �°-:, have the ri grit to collect and retain such rents,(ssues and profits as they beoome due and payabie.Upon the oaxurence of an Eventof °`. �:�.,,,
<br /> -° Qefau�.Lender may,either in person or by agent,wdh or without bringing any a c tlon or pro c e e d i n g,o r b y a r e ce n r e r a p p ofited b y a ��-a;
<br /> ' �-f court and without regard to the adequacy ot its secudry,enter upon and take possesston of the Properly.or arry paR thereof,in Its own _ __ - �
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<br /> name or In the name of the Tnistee,and do any ads vfiich it deems necessary or desirabte bo presenre the vatue,marketabil'dy or • ,_�,�
<br /> ' '` rentability of the Property,or any paR thereof or interest therein,or to inasase the income t he r e f r om or pro t e c i t h e s e c u r i t y hereof and. , ` ,�� -
<br /> . `-'� with or without tatdng possession of the PropeRy.sue fir or othe�nrise colied the rents,issues and profits thereof,induding those past . �.s_�
<br /> � dus and unpa9d,by notitying tenants to make payments to Lender.Lender may appty rents,issues an d p r o fr t s,l e s s c o s t s and e x pens- �
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<br /> , � es oi operatlon and colledion including attome�s fees,to any irdebtedness secured hereby,all in such order as Lender may Qeter- _. `�':;._�:;
<br />_ . , mine.The entering upon and bking possesston of the Proparty�U►e oo�ledion af such renb. issues and profits,and the applicaUon ';:.*;��;---
<br /> � thereof as aforesaid shaii not cure or waive any defauit or nottce of default hereunder or invaltdate arry ad done in response to such .�••�''!="
<br /> defauli or pursuant to such notice of defauit and,notwithstanding the oontlnuance in possesston of tAe propeRy ar t�e co►tecban, �s"
<br /> � '�:n , reeeipt and apptecation of rents.issues or prafrts.Tn�stee and Lender shall be entiUed to exercise every rigfit pcovided tor in any of tha
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<br /> ' � � Loan Instruments or by law upan occurrence of any Event oi Default,inciudfng without IimitaUon the right to exercise the power of sate. , ,'�r;_,.-�'
<br /> � Further,Lender's�ights and remedies underthis paragraph shall be cumulative with,and in no way a timitation on,Lender's rights and •. ;'Z-�;�,._.
<br /> ' rerrtedies undar any assignment oi leases and rents recorded against the PropaRy.Lender.Trustee and the recetver shall ba liable to �• - �.s�r:
<br /> •� accflunt onty for tlwse renb actualty received. ��:��"'�
<br /> 11.Event3 ot Oefautt The following shaii constitute an Event oi Defautt under this Deed of Trus� �� �
<br /> • . �� � (a)Esiture to pay any instailment of p�indpal or interest or any other sum sacured hereby when due: `��.
<br /> • � '' (b)A breach of or defautt under any provlsion contained in the f�ote,this Deed oi Trust,any of the Loan Insduments,or arry , ;,385,,,.
<br /> . other lien or encumbrance upon the Property; ��.�:=.�=
<br /> . ' (c)A writ of execution or attachment or any similar pmcess shall be entered against Trustor whtch shail become a lien on .r ;r,--._='
<br /> • the Properly or any poNon thereof or interest therein; � � _�-�{�_
<br /> � . . � (�)There sha0 be filed by ar agains!Trustor or Bortower an action under any present or future federab state or other statute, � �, - ��,,
<br /> " . , ;' law or regutatlon relaUng to bankruptcy,insalvency or other reNet far dabtors:or thare shall 6e appointed any hustee,receh�ar or __ , ___
<br /> liquidator of Trustor or Borrower or oi a!1 or any paR of the Properly,or the rents,issues or profits thereof,or T�r or Borrower _
<br /> � shall make any general assignment for the benefit of creditors: . �,
<br /> ,. � - ,• (e)The sate,transfer,lease,assignmen�conveyance or tuRher encumbrancs oi ali or any paR oi or any interest in ttie
<br /> • � property.either valuntadly or invotuntarity,without the express written consent ot Lender,pmvided that Trustor shail be permit- � ,l ' , ;-:�,.
<br /> ' • • ,�., ted to execute a tease ot the Property ihat does not contain an option to put c hase an d t h e t e r m o i w h i c b d oes not exceed one ,� i,'�
<br /> � .' • year, :�
<br /> � (f)Abandonment o1 the Property;or • �
<br /> � • �. �� (g)It Trustor is not an individual,the issuance,sale,transter,assignment,conveyance or enarmbrance oi more than('d a �-._
<br /> corporaUon)a total of Dercent oi its issued and outstanding stodc.or(ii a paMership)a total ot per- ,
<br /> . � cent of paRrrership interests,or(it e limited liability company)a tote)oi percant of the lim'�ted liability compa-
<br /> " . � ny interests or voting rights during the peHod this Deed o1 Trust remains a lien on the property ��'°� . .
<br /> • ' 12.ttemedtes;Acceferation Upon Default In the eveni of any Event of Detault Lender may,wlthout rtoUce except as requlred
<br /> � by law.deGare ail tndebtedness secured hereby to be due and payabte and the same sfiall thereupon bscams due and payabte with-
<br />:. ' � out any presentment,demand,protest or noUce oi any kind.Thereafter Lender may: .
<br /> .•, " (a)Demand that Trustea exerdse the POUYER OF SALE granted herein,and Trustee shall thereafter cause T�ustors inter-
<br /> . � � est b E%e roPe a t�and alari hts p ovded for in any of the LoanntnhsUuments o by lauu� pon occurrenceNOf any Eve�n1 oi � � : '
<br /> � • � ( ) Y 9 .
<br /> ': 1 Defaufl:and � � � •
<br /> , f (c)Commence an action to toreclose this Deed oi Trust as a mortgage,apAoint a receiver,or speciflcafty enforce any oi the ,.
<br /> � covenants hereo}. '
<br /> � IVo remedy herein conferted upon or reserved to Trustee or Lender is intended to be exctusive of any other remedy herein,in the Loan . .
<br /> InsUuments or by taw provlded or permitted,but each shall be cumutaUve,shall be in addition to every other remedy given hereunder,
<br /> ; in the Loan tnstruments ar now or hereafter exlsting at law or in equlry or by statute,and may be exercised concurrenUy,independenUy .. .
<br /> �• � � or succestvely. ' .
<br /> . � 13.Trusteo.The Trustee may resign at any time without cause,and Lender may at any time and without cause appoint a suo- �
<br /> cessor or subsUtute Trustee.Trustee shall not be Iiabte to any party,inctuding withaut limitation Lender,Borrower,Trustor or any pur-
<br /> ' i chaser o1 the Propertyr,for any loss or damags untess due to reckless or wlilful misconducf,and shatl not be required to take any action
<br /> � � � in oonnection with the entorcemen!oi this Deed oi Trust untess indemnified,in wriUng,for all costs,compensation or expenses which .
<br /> may be associated therewith.In addiNon,Trustee may become a purchaser at any sale of the Property(judiclal or under the power of . . •
<br /> . •�i sale granted herein);postpone the sale of all or any portlon of the Property,as provided by law;or sell the Property as a whote,or in
<br /> ' , s separate parcels or lots at Trustee's discretion. �
<br /> j 14.Pees and Expenses.In the event 7rustee sells the Property by exerGse of power of sale,Trustee shall 6e entitled to app�y
<br /> ' any sale proceeds A�st to payment o!all costs and expenses of exercising power oi sate,lncluding all Tn�stee's fees,and LenAePs and
<br /> : � • ' Trustee's attomey's fees. actually incurred to exteni permitted by appliqbte taw.In the even!Borcower ar Trustor exercises any right
<br /> . �' � provided by Iaw to cure an Event ot Oefault,Lender shall be entitled to recover from 7rustor ail costs and expenses actualty incuRed as
<br /> � ''! a resutt oi Trustor's detault,including writhout IimitaUon all Trustee's and attomey's fees,to the extant permitted by applicable law. �
<br /> _- . _ i 15. Future Actvaneos.Upon request ot Borrower,Lender may,at its option,make additional and future advances and read- �� .
<br /> vances to Bonower.Such advances and readvances,with interest thoreon,shatt Ce secured by enis Oeed ot Trust.Ai no tin,e si��ati tt►e
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