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<br /> � � in value to the � -�,
<br /> _ ' • . �r ��bsolcte. roei�d tha[ �u�h�xrsunal pmprnv is replaced��ith other personal propec�`at teast eQua1 �C� ` .
<br /> p y a ment or other encumbtance• S
<br /> ' • .- `Y� ,;��laced personat pr��prrt�. frer from :u� titlr rrtentiaa device. security gree . .
<br /> • ` ' :alacement of pers�m:�l propcny���ill he d��emcd subjrct to the sec:urity intemst eteated by this Deed of Tn�st.Ttustor shall �`4 .��� ��
<br /> .. , � � ��,t panitian or sie6dicide�lir Ftuperi}• tvi[l:out Benrii�7ary's prior written consent. Beaeficisiy or Beneficiary's agents ' � . ..
<br /> ' •:.�y,at Brnefician�'s optiun. rnter che Propem•at any reasonable time for the pucpose of iaspeaing tlte ProPertY;'�Y - '
<br /> ` ' mpection uf thr Property �ha�1 be entirely for Brneiiciary's beneftt and Tn�stor will in no way rely oa BeneficsatY's c . • " ,V �" .
<br /> � ::��p��ction. .._ . < .
<br /> : . �,.�..`.
<br /> � �- ►;. 1l'THOItITY TO PEREOK�1.If Truscor fails io prrform any of Tsustor's duties uader this Deed of Tiust.or any other , .:.:�,:,1: :;
<br /> � �� --;:�4` �rn,rtgage, dcx�d of tru.t, sctiurity agreement or�nher lien document that has priority over Wis Deed of Tn�st,Beaeftci�l+ = . "
<br /> . . ,��a y,with�wt nocicr, perf�ni��he ducies or c:ause�hcm to be perforn�ed.Tn�stor appoints Beneficiary as attomey in fact to _ .Y • �,
<br /> - : : Y� ,;_n Trustor's nainr��r pa�an�amount nex:essary for pe r fom�ance.I f a n y c o n s t n t e t i o n o a t h e P r o p e t t y i s disconttaued or . '
<br /> •,�u carried on in a re:�tionabk manner.Benefciary may do whatever is neoessary to Prote�Betteficia�Y's S�urity ia� °
<br /> . ::�che Pro�xrty.Tbis ma}�iii�lude c�,mpleting thr construction. ' :,i::
<br /> = ' . � , k�•neticiary's right to perfunn for Truscor shall not create an obligarion to perform,aud BenefiaiarY's failure t°P�°� " `�>`:: .'; .� �
<br /> �` �11 not pre.�:lude f3rr.rfician from+:xercising any of Beneficiary's other rights under the law or this Qeed of Trnst. A�► �,�1;`
<br /> .::uuats paid b� Beu�ti�iaR Cur iusuring, pie5ei�•i»a or other�vise protecting tt�e ProPertY and Benefici�y�s secuitty _ _
<br /> ���ierest will be duc on dem:utd and�vill bear inceresc fram the da[e of the paymeut until paid in full at the inte�t rat�i� �,'• :"�
<br /> � t irct from timr tn rin,r:rec��r�ling to the ternu of the Evidence of Debt. � � '..�� -
<br /> :�...
<br /> ' 1�4. �tiSIGN1tE\T OF 1.EASI•:ti A�D REA"CS.Tn,scor irrevocably grants, eonveys and se11s as addirional secauity ail the . 4 _a.
<br /> � rieht,title and in?erest in and io any and all: •
<br /> ? A. Existing or futurc leascs,subleases,licens�,guardnties and any other writtea or aerbal agreem�ts for the nse aad
<br />-` . . � occupancy of any pon ion of the Property, including any extenstons+ rene�+aLs• m°d���0�or substitutions of �-
<br /> •�Y�
<br /> such a greements(all rrferred to as"Ixases"). .- F;:�="-
<br /> B. Rrnts. issu�5 and proi its(all referred to as"Renu"),inc lu d';ng but no t limi t e d w s e c u r i ty d e p o s i t s,m i n i a�m�.+ ' is-�__..
<br /> v . � �, ' perceneagc renc. aJctie►onal rent. common ar�a maintenance charges, parkinS char8es, real estate �• other _ ,.. ���,�-
<br /> . �
<br />�� . � -�. - applicable tvices, ins�uance premium contributions, liquidated duaages followmg default,c2ncellarion pretnium4,
<br /> ���`�r... "loss of rrnts"iasuranrc,re��enues,royalties,proceeds,bonuses.and all rights aad claims wluch TmsWr may have :y f��
<br /> , th��in any�ti�a}•pertaiu.to ar is on account ot the use or accupancy of the whole or any part of the Property. �..;�:
<br /> . 9� et•"' -
<br /> , _� .
<br />__ ._ .•'.�,,` 1 rustor �vill prott�dy prociae Beneficiary with true attd correct copies of all existing aad fuhue 1.eases. Tn�st�r�Y .. ���.;�,`_
<br />"t � ' ,��Acwt, rr�;eive,cnjoy and u,r[he Rents so long as 7'rustor is not in default.Truswr arill not collect in advance ai►Y Reats ;�..•-
<br /> . e`,�,:°
<br /> '4 . �luc in fumre lease periods. unless'frustor first obtains Beneficiary's written consent. Upon default,Trustor w�l retelve . ,�,�,,
<br /> ` �: :my Rents in trust for Benef iciary and Trustor will noc commingle the Rents with any oiher funds•AnY amoun��°�� ��` �w�;�".
<br /> i ' .hall be a p plicd at Beneticiary's discrction to payments on the Secured Debt as thetein provided.to costs of�nagin8�e ,," ;�,�' .
<br /> `. . . .. . Property, including. hut nat limited to, all taxes. assessments, insurance prem�w�• 1 e P�' �d���oi1s to te4�1 ;:�=__
<br /> ' :'•� •���rnts.and to any othcr a�tic,sary rclated expenst�s including Beneficiary's attomeys'fces,paralegal fees and eaurt costs. .,�,_
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<br /> � ' I rustor acknowlcdres that ilu,assignment is perfccted upon the recording of this Deed of Tmst and that Beaefieiary is =:.•,�t_;
<br /> _ � �•ntitled tc� noti(y any of'Tru,tor's tcnants to makc paymcnt of rents due or to become due w Beneficlary. However, � ; ;.::�T�.:
<br /> �� Itrneficiary agrces tlr.n unl}• ��n Jrfault will $cneficiary nopfy Ttustor and Tntstor's tenants 2ttd make demSnd th2t 211 , , ;.�
<br /> - • . :utt�re Rents be paid dir�ctl� to Beneficiary. On rrceiving the notice of default, Trustor will eudorse and deliver to :,�;_
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<br /> .. ,. I scnrGciary am pa��mrmti�,i itcnt in Trustor's pussc.�sion_ ,:�-�
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<br /> - ��us[or covenants that no dctault cxises und.r thr Ixases or any applicable landlord law.Tn�stor also covenants and agrees ,;�-_:,
<br /> ' ;. ��
<br /> ' �., maintain, and to rcquire tl�c trnants to comply�vith, the Leases and any applicable law.Tnutor wt'll promptty notify •:�. . �.�,�.
<br /> �; ' • li�•ncficiary of any nancompliance. lf Trustor neglects or refuses to enforce eompliaaee with ttte tenns of the Leases,then �;:'��:"i-
<br /> . ttcnrficiary may, a[ l3ennc�iary's optian. enforce compliance. Tcustor wiU obtain Benefieiary's writtea autttorizatioa .�� ��;�
<br /> � i,ciore Trusto:con�cnts [o sublet, n�odify, canul. or otherwise alter the Leases,to accept the surrender of the Properiy , �� �., +�.<
<br /> � ,_v� •,.
<br /> ����•rred by such Lras�s(unless thc I.cases so rcquirc). or to assign,compmmise or enaunber the l.eases or anY tutiue , :�
<br /> • + ' Krnts. Trustor will hnld Brneficiary harmless .+nd indemnify Benefc�ary for any and a11 liabilIty, loss or damage that r �.,,_•
<br /> � � � .. L�•nefici�ry may incur as a c� isequence of the assignment under this section. � .,
<br /> " I;, t�t��D0�f1\II��iS; PLA��F.D G�IT DEVF.I.OP,NEhTS. If ihe Proper[y includes a unit in a coadominiam or a ' �
<br /> ' ;�t:mncd unit drvcl��pmcm. "l�rustor��iti p:T:orm all uf Trustor's du[ies under the covenants.by-laws,or regulations of the , � . .
<br /> �mdominimn ur planncd uuii dcvclopm.:. - . :_
<br /> c�! � l��. 1ll?FAUI:P.Trustor�cill br in dcfault if any of the following occur: �
<br /> • ' A. Any parry uhli�,atcd�m the Secured Debt fails to make payment when due: ,
<br /> � I3. A brcach��I any icrm nr co�•rnatll in this Dred of Ttvst.any prior mortgage oi arly construction toan agreement, • . ,
<br /> . , i sccurity agrrement ��r :�ny other document evidencing. guarantying,securin�or othetwise relating to the Secured • ,
<br /> . t Dcbt: .
<br /> � C. Thc n�:ikin�:c�r fumi�l�ing of'any verbal or written representation,statement or warrauty to Beneficiary th8t is false . .
<br /> � ur inu�rrcct in any u�:�irrial respcct by Trustor or any person or entity obligated on the Secured Debt;
<br /> . ', � � U. Thc acath, dis�uluti�m. appuintment of a rccciver for. or appiicadon of any debtor relief law to,Tn�sto!0!aIIy . ,
<br /> pci<un ut cntil•. ��hli�..'ed�m th:5ccumd I)rht:
<br /> � I.. A _n„d i:mh ��.•I�ci �• licnrt�ci:,ry• :�i :riy �iine thai IirneCiciar�• is insecure with respect to any person or entlty �
<br /> • , ��hl���.��r�l�m il,�•ti�•�•:::�d Dd,i �,r th:n tlu pr���pcct af any p.iyment is impaired or the Property is impaired: .
<br /> I . A m:ucri:�l .��h�•��r�h,ngc�i� Il��utur's businrsa includinL u�vncrship,managcment.and financial wnditions.which ..
<br /> ' Bcncuciarc �u u���I,�i;.��n►uliccc�imp:iirti tl�c valuc��f the Property or repayment of the Seeured Debt:ar . ,
<br /> � ' ; (�. Am- l�,:m pinccrJ,n�� uscd Inr a purpo�c Ihat wiil cuntribute to excessive erosion of highly erodible land o:to the .
<br /> • ���nvrrsi��n uf«cd:mi���n pn,duce an a�rictiltural commodity.as further explained in 7 C.F.R.Part 1940.Subpart .
<br /> � , G. i:xl�il�it �l. , .
<br /> � i'. �<I•:�Ii:b11�:S(ri UEt�,�l'1.'i�. ln s��m� ins�auccs. irderal and state law will require Beaeficiary to provide Tr�stor with . .
<br /> � ' ; ;.,,i;�,: u(ific ricl,� w cure, u�rdiau��n noticrs ur rnt�er nn�ices:md may establish time sehedules for foreelosure aetions. •
<br /> . ' .•,i,�c.;t ��, thcsr Innit:�ti�,m.. � am•. Henetician• �n:ry accrleratr ihe 5ecured Debt and forcxlose this De�d of Trust in a .
<br /> • � i ���nncr pr��cidrd h} la��•it ih , �ro�t�,r is in dcfault. .
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