|
, �fi_:"� . �.��: :i . �. �.-a.c
<br /> ._:..�� . . .
<br /> _"—�<<—_-�.�-. �. ._ " -. _ . � � -1 — - _ .-�.t ..
<br /> ' F .-�. . , , - - - , • . . . - ' �u •- f
<br /> . . ��•�:.C`rt�_- . '�4 G J ,C
<br /> ' . � .�i y e�. ��.�..—.�_.__... �.�i��..��+�.--.s.��...s...���—..�..a�. ..� _.��. ��..._'__ ��� .4�4
<br /> . . ' . " ' '7 "- _...u...-�_ . ' 'R.. .
<br /> , — �,St�
<br /> ._ L i . '�'�, C __ — .
<br /> � . ' �� ������oi condema�ation. �. ` ``,��� :�
<br /> • ••.�` , 'proceeds'�in conrtactla�with condemnation or other tetcing of the Property or part thereof. co _
<br /> � Lender shail be entlUed at its aptton to commence.aPPear in ana prvsesc;�te in iis a1.'r� name any�i�n�r nrnceedings.and shait also , . ��__ .
<br /> � ., be entiUed to make any w+npmmise or setdement in oonnection with such taking or damage.in the event any portion of tRe Properllr is ,r�;`l= �
<br /> .. . . , so taken or damaged.Lender sAatl have the option in its sole and ahsolute discretion.to aPPly all such pmceeds. after deduc6ng :, .
<br /> , < ' , the�efrom al{oosts and expenses in�erred by it in conr�er.tion with such Proceeds.upon any indebtedness securet:hereby and in such
<br /> � ' order as Lender may dotermine.oT to app�y aU sa�Proceeds•af�r such deQuctions,ta Ne restoration o one he due 4 te oi any pa7f- � " •
<br /> ` �` difsons as Lendec may aetermine.My applicaUon of Praceeds to indebtedness sha��not extend or postp •
<br /> �� � ' ments under the Note,or cure any defautt thereunder or hereunder.My unapplied funds sha0 be paid to 7rustor.
<br /> � � g,perforinance by Lender.Upon the accuRence of an Event of Default hereunder.or if any act is hdke�ar tegal proceeding .
<br /> • cammenced which materiaiiY aHect�Lendet's Interest in the PropeRy.Lende►maY in its own discreUon,bsit without obligation to do so, . �
<br /> ' - and wlthout notice to or demand upon Trustar and�vithout releasing Trustor irom any obiigation,do any act which Trustor has agreed , ,,. :.�:S
<br /> but faited to do and may atso do any other ad ii deems necessary to protect the security hereof.Trustor shall, immediatety upon • •'�
<br /> ^�1 . demand therefor by Lender,pay to Lender all costs and expenses incurred and sums exPended by Lender in connedion with the exer- _ _
<br /> � � . ase by Lender of the foregoing rigMs.togethsr with le�est ther�r:at t1�8 detauR rate provided in the Note,which shafi be added tn
<br /> �� the indebtedness secured hereby.Lender shall not incur any Iiabiliry because of anything it may do or omit to do hereunder. '
<br /> 9.Hazardous hlaterials.Trustar shall keep ihe Pmperty in compiianoe with a0 appticable laws,ordinances and regutatians `. 4: �.
<br /> � � ,��� relating to;ndusViai Aygiene or environmental protedion(collectivety�eferted to herein as"Environrmentat Laws7.Tnistor sha0 keep
<br /> - . the Properly iree from ati substancss deemed to be hazardous or toxic under any Environmental Laws(coltecdvety refened to herein
<br /> � as•Hazallous Materiats'�.Trustor hereby waRanis and represents to Lender that there are no Ha.ardous Materials un or under tho - - .. _
<br /> - • Property.7�r hereby agrees to indemnify and hotd harmtess Lender,its directors.officers.employees and agents.and any succes- � —
<br /> < . - sars ta Lende�s interest.from and against any and all daims,damages.losses and Iiabilities,a�nEn�REGOING�WARRANTiE�S AIdD ` .
<br /> �Y: . � use,disposal or Uansport af any Hazallous Materials on,under,from or about the Property. ,
<br /> - REPRESENTATIONS,AND TRUSTOR'S OBLIGATIONS PURSUAN7 TO THE FOREGOING INDEMNfTY, SHALL SURVIVE . . __
<br /> t';. .. . � �cor�v�rEwcE oF Tx�s ot�n oF rnusr. � . :�_ _
<br /> < ' 10.Assignment of Rerts.Trustnr here6y assigns to Lender,and grants Lender a security interest in,aii present,future and �
<br /> i` � � - � � after arising renLs.issues and profits of the PropeRy:provided that Tnistor shall,un4i1 the occuRertce of an Event of Oefautt,hereunQer, -
<br />'''� � , Y�= have the right to coitect and retain such rents.issues and profits as they become due and payable.Upon the occurrence of an Event of =
<br /> ' � • � Refault,Lender may,either in person or by agent,with or without bringing any adion or proceeding,or by a receiver appointed by a "���� � �
<br /> ' couR and without regard to the adequacy of its security,enter upon and take possession of the Property.or any paR thereof,in its own �
<br /> - ` � name or in the name of the Trustee,and do any acts which it deems necessary or desirabte to presenre the vafue,marketabUity or • ___
<br /> ,£� „ , . �entabiliry of the Property,or any part thereof or interest tfierein,or to increase the Income therefrom or Proted the secu�tY her�°f and, _ _ .� . `T
<br /> , w i t h o r w i t h o ut takin g possession of the Property,sue for or otherwise coilect the rents,issues aad profits thereof,induding those past � ��.�.�__
<br />`��• • - . ' due and unDaid,by notifjring tenants to make payments to lsnder.Len der may app ty r e n t s.i s s u e s a n d p ro f i t a,l e s s c o s t s a n d e x p e�s- �,: -`..-
<br /> ' es of operatfon and coitection induding attomey's tees,to any indebtedness secured hereby,at!in sucl�order as Lender may deter- , {.��-,
<br /> c
<br /> �.� ��� , mine.The entering upon and taking possession of the Properiy.the coNection of such rents.issues and profits,and the appficaUon _ . �___
<br /> � , � thereof as aforesaid shail not cure or waive any defauft or notice of default hereunder or invalidate any act done in response W such , ,a -
<br />�' .` defau►t or pursuant to such notice of default and,notwithsianding the oontinuance in possession of the property or the coflection. �� ��• `
<br /> � receipt and appliption of rents,issues or profits,Trustee and Lender shal!be entiUed to exercise every right provided for in any ot the . ___
<br /> � Loan instruments or by law upon accurrence ot any Event of Oefault tnduding without Ilmitation the Rght to exercise the power of sate. __
<br /> 6uMer,Lenders rights and remedies under this paragrapb sha��be a+rnutattve with,and in no way a GmitaUon on,Lenders rigfits and
<br /> � ' remedies under any assignment of leases and rents recorded against the Properly.Lender,Trustee and the receiver shall be liabte to . �..:,;�L,
<br /> :��` ' , aa;ount oniy tor those rents ac�ualfy recelved. r ` ;�r-
<br /> • - 11.Events of Defautt The following shall constitute an Event of Defautt under this Deed of Trust: • - _
<br /> � (a)Failure to pay any instaifinent oi principal or interest or any other sum secured hereby when due: �;'�, : --
<br /> � � . .- (b)A breach of w default unQer any provision contained in the Note.Lhis Deed of Trust,any of the Loan Instruments.or any �;a.,
<br /> :`.,` other lien or encumbrance upon the Property; ' _�,
<br /> . � �. (c)A writ of execution or attachment or any similar process shail be entered against Trustor which shall hecome a Iien on f�.. .:,V
<br /> . " the Property oo any porUon thereof or interest therein; . -
<br /> (d)There shall be filed by or against Trustor or Borrower an setian under any present or tuture iederal,state or other statute, ;,;���_
<br /> :••,�i taw or regulaUon retaUng to 6ankruptcy,insohrency or other relief fo�debtors:or there shall be appointed any Wstee,receiver or _ =_
<br /> � , .� tlqutdator of Trustor ar Borrower or of ali or any part of the Property,or the rents,issues or profits thereof,or Trustor or Borrawer . �.�,�,
<br /> =1� • shall make any general assignment for the benefit o t cre di tors; . '���::.
<br /> ' (e)The saie,transfer,lease,assignmen�conveyance or turther encumbrance oi ali or any part of or any interest in the ,+' .:;�:`•
<br /> � . Property.either voluntarily or invotuntariry,without the express written consent af lender,provided that Trustor shail be permit- � �' _
<br /> : � •�' ted W execute a lease of the PropeRy that does not contain an opUon to purohase and tAe term of which dnes not exceed one . ,
<br />-- ' year, . .
<br /> � (�Abandonment of the Property:or • • .
<br /> ' � '" (g)Ii Trustor is not an indivldual,the issuance,sale,bansfer,assignment,conveyance or encumbrance oi more than(if a _
<br /> , corporaUon)a tOtal ot percent oi its issued an0 outstanding stock,or(H a paRnership�a total oi per-
<br /> � "� cent ot paRnership inierests,or(ii a limited Uabitity company)a total of percent ot the limited liability compa-
<br /> ny interests or voting righta during the period this Oeed ot Trust remains a lien on the property. . •
<br /> � 12.Remedies;Aceeleration Upon Oetaui�In the event ot any Event of Detault Lender may,without noUce except as required ,
<br /> by taw,dectare alt Indebtedness secured hereby to be due and payabte and the same sha11 thereupon became due and payable with-
<br /> , .t � out any presentment,demand,protest or notice o1 any kind.Thereafter Lender may: • ° .
<br /> ' (a)Demand that Trustee exercise the POWER OF SALE granted herein,end Trustee shail thereafter cause Tnutor's inter-
<br /> � � . ' � est b t�ercise ant�nd ail�rel hts erpo vdeddfor�n any of he Loa'n Instrumants oroby aw upon occurrence of any E ent oi • � •
<br /> .':?ti � � y s n .
<br /> � �etaulr and oint a receiver,or speciAcaity enforce any ot the •
<br /> .' (c)Commence an acNon to foreclose this�eed oi Trust aa a mortgage,aDD . .
<br /> ' covenants hereoi.
<br /> No remedy hereln conterred upon or reserved to Trostee or Lender is intended to be exclusive ot any other remedy herein,in the Loan
<br /> . in the Loan InsVuments or ow or hereafter exi ting at iauvf ob n equi�ty or by statute.iand mitay be exere si ed concurrenttyi,�ndependentty ' � .
<br /> � • or succesively. • . -
<br /> �' 13.Trustee.The Trustee may resign at any time without quse,and Lender may at any time and without cause appoint a surr ,
<br /> � cessor or substitute Trustee.Trustee shall not be liable to any party,including without limitation tender,Bortower,Trustor or any pnr- ,
<br /> chaser o1 the Property,for any loss or damage uniess due to recktess or wilitul misconduct,and shaii not be required to take any action �
<br /> in wnnection with the eniorcement of this Oeed of Trust un�ess indemn�ed,in writing,tor ali costs,compensation or expenses which -�
<br /> � � may be associated therewith.In addition,T�ustee may become a purchaser at any sate of the Properry Qudicial or under the power of
<br /> . , � saie granted herein);postpone the sale of all or any porUon of the Property.as provided by law:or seti the Property as a whole,or in
<br />••' - separate parceis or lots at Trustee's discretion.
<br /> '} I 14.Fees and Expenses.In the event Trustee seils the PropeRy by exercise of power of sale,Trustee shail be enGited to appty
<br /> any sate proceeds flrst to payment of aii costs and expenses of exercising power o1 sale,including all Tn�stee's fees,and Lender's and
<br /> . . � Trustee's attomey's fees, actually incurred to eu ten t perm i tte d b y a p p l i c a b l e l a w. I n t h e evant Borrower or Trustor exercises any right .
<br /> ` provided by law to cure an Event of Defautt,Lender shal�be entitied to recov�r frnm Trustor all costs and expenses actuatly incurred as
<br /> ' �` a result of Trustor s defauit,inc!udi�g without limitation ali Trustee's and attomey's tees,to the extent permitted by applicable law.
<br /> ' � 15. Future Advancas.Upon request oT Bonower.Lender may,at its option.make additional and future advances and read- �
<br /> - vances to 8orrower.Such advances and readvances,with interest thereon,shati be secured by this Deed oi Trust.At no time shaU the
<br /> - - i . �� -. ..
<br /> ' . — � _;.� - -_ . - -
<br /> . .r • - . _ _. _�,rc��� �'-�— ?��rr.•�;-� �
<br /> `...�� .. . * . •. _ .. . . �#. .�. � •_i_.��'� . .s....�L.._��,i ..t.-++...aa.Lh.e�=a.•-� i .� L.--�.A..�' f.11 '
<br /> , �:j...,.Y•y�. �..+.n.S.�iav�.rt+ea�4wi►nii+r+w�d�T+r'r> --, -fi'' . . . . . . .. -�,.. . �_,•-, a�.i,;...
<br />
|