|
��t.- - , . .. . .. ( � . . . .C' :�C.�,�%. .
<br /> . . . �< ` . � . ' � � . . . . . � ' � . ...
<br /> . . � - � . . � - . . . . � . , . �� ' . ' . _ "" .._ ..�,.'x...;.. - .. �-��. _
<br /> c . .. . .. ' _ _ ._ , . . . ' � . , . i. � . ., t?' ._.._. . .. _..
<br /> ` .., � � i < � - � ' " . _ " , . • ' � . � ' � ♦ - .
<br /> ' '. . . � .. . ' . � . .. � < . . . . � � " . � , . °�. . � _ . , -
<br />. , - � - . � - ` - . . . - , . _ , . i .. . . - - .
<br /> ' . . . � . . - ' ' � . , . . <. . `
<br /> � �a: - . ` . - � . . . ' , i. ._ . • .. . -_. .---' � . . .. . . . .. __ .. ..._.. -- - `� � . " .. .
<br /> . `j 9�- � _ � �
<br /> . . �, � . it�2131 � �'� . . ,
<br /> � (d) a writ of execution or attachmerrt of any sim�7ar process shall be entered against Trustor whicb shaU : ' �
<br /> '. i bscome a lien on the Trust Estat�or any poRion thereof or iMerest therein and such executfon,attachmert or sim�7ar �; , _ �••� ; .
<br /> ` �- 1 proc�ss of judgmerrt is nat reteased.bonded,satisNed,vacated or stayed vrithin sixty(60)days after Its entry or tevy; � �; � �;.� ':'• �
<br /> _ , �, ,. , . .
<br /> �.'! or � ` . � �
<br /> ' ' � (e) there has occuned a breach of or defauft under any term,coveRant,agreemeni,condition,provision, ;
<br /> - --. . ; representation or warranty corrtained in any pdor deed of trust or mortgage affecdng the 7rust Estate. � _- ----- -- .
<br /> . , , ; . .
<br /> �� 10. ACCELERATtONS UPON DEFAUL'f;ADDITIONAL REMEDIES. If an eve�t of detault occurs.Berteficiary may � '
<br /> declare the indebtedness secur�hereby to be due and payable and the same shall thereupon become due and payabte � �• .
<br /> , � � withaut any preserRment,demand pratest or notice of any kind. Thereafter Beneftciary may: _-4�. .
<br /> . ' � Q) either in person or by agent,with or without bdngirtg any action or proceeding, or by a recei�er : , �..
<br /> � � appoirRed by a court and without regard to the adequacy of its security,erner upon and take possassion of the Trust
<br /> ' Estate,or any paR thereot,in its awn name or in the rname of Trustee,and do any ads which it deems necessary or � � �, •. �-: ``>"
<br /> desirabte to pr�eserve the value, marketabilit5►or rerttabliry of the Trust Estate, or part thereof or i►iterest therein, , ;�,,::;:-:.:�..
<br /> , increase the tncame therefrom or protect the security hereof and, with or without 4akfng possesslon of the Trust , �r
<br /> Estate,sus for or o4herwfse ccllect the rents,issues and prafits thereof,inciuding those past due and unpaid,and —
<br /> � appty the same, less costs and expenses of operation and cottection induding attomey's fees, upon arry >. �'��'��°_
<br /> indebtedness secured hereby, all in such order as Beneficiary may determine. The errtering upon and taking { . .�."�p►;��
<br /> possess ion o f t he Tru s t E s t a te, t h e c o i l e c U o n o f s u c h r e M S, i s s u e s a n d p r o fl t s a n d t h e a p p i i c a d o n t h e r e o f a s � `.�-�,;;'
<br /> • aforesaid shall not cure or waive any defauit or notice of ddau(t hereunder or imraltdate an act done in response to � . ; :`'����
<br /> y ; �. :�:,;�
<br />° � such defa�t or pursuant to such noUce of defauti and notuu�hstanding tfle coniiinuance in possession of the Trust ,:;3,���:.
<br /> � � Estate or the coilection,receipt and application of rerns,issues or profits,Tnrstee or Beneficiary shaii be entiUed to ( � ; • �.:��,�
<br /> exercise every right provided for in any of the Loan Instruments or by law upon accurrenc�of any event of detault, � , ;�.;�.
<br /> � inciuding the�tghtto exercise the power of sale; , � � • j �'°'�`_"
<br /> - • (ii) commence an action to foreclose thls Deed of Trust as a mort age,appoint a receiver ar s eciflcali � . •�`'•°�����1�
<br /> � er�farce atry of the comrenants hereof; g P Y . `��,.�:"4
<br /> ;..s._li_�`�.
<br /> . • � (ii� deliver to Trustee a written dedaration of default and demand for sale and a writien nottce of detautt • ,� .i.'�;_;f''
<br /> and election to cause Trustor's interest in the Trust Estate to be sold which notice Trustee shaii cause to be duly fUed : •�;.`.�z���;,
<br /> � '. for record In the appropriate offices of the County in which the Trust Estate is located;or - ':ti'.'s}�� �'
<br /> . ;rs>.:.�:.�s(
<br /> '� (iv) exercfse such other rights or remedtes at taw or in equiry. . �� ''��"�'�':
<br /> `��`u�s;tt,
<br /> '' 11. FOFtECLOSURE BY POWER OF SALE. If Beneficiary elects to faredose by exercise of the Power of Sa1e = �.�:��•,�;
<br /> � herein corrtained, Beneflciary shall notify Tnjstee and sha11 deposft w►th Trustee the Second Deed of Trust and any note _ �;;:°��':,'
<br /> � evidencing the Indebtedness and such recelpts and evidence o#expenditures made and secured hereby as Tvustee may = -^•�'w"�
<br /> .� requlre. - '�`-'�';
<br /> • =�.:c;_-:,:
<br /> .:.,le�-_
<br /> � (a) Upon receipt of such notice from Beneftciary.Trustee shall cause to be recorided, published and � - z�°
<br /> delivered to Trustor such Notice of Defauli and Notice of Sate as then required by!aw and by this Second Deed of �� ��,��:;
<br /> " � ! Trust. Trustee shall without demand on Trustor,a fter suc h t ime as may t hen 6 e r e q u i r e d b y l a w an d after recordation . �� . •> -
<br /> �� of such Notice of Defauft and after Notice of Sale havtng been given as required by law,sefl the Trust Estate ai the . , • '1�`_
<br /> ,. :
<br /> � ' � time and ptace of sale fixed by(t in such Notice of Sate,either as a whole,or in separate lois or parcets or ftems as .
<br /> � - Trustee sha11 deem expedient,and in such order as it may detemnine,at publfc auction to the highest bidder tor cash
<br /> �� � in tawtul money of the United States payable at the time of sale. Trustee shall deliver to such purchaser or
<br /> : purchasers thereof its good and sufficiern deed or deeds conveying the property so sold,but without any covenar�t ; ,
<br /> ? ',���; or warranty expressed or implied. The tecitals in such deed of any matters er facts shaU be conclusive proof of the : ,
<br /> . : .� trutMulness thereof. Any person, inctuding without limftation Trustor,Trustee nr Beneflclary.may purchase at such , �'' .�
<br /> sale. :
<br /> � (b) As may be permitted by law,after deducting ali costs,fees and expenses of Trustee and of this Tn:st.
<br /> � inctuding costs of evldence of titte in connectlon with sale,Trustee shap appiy the proceeds of sale to payment of m . ,_ , .
<br /> '. � the Indebtedness(ii)all other sums then secured hereby,and (ii�the remainder, if any,to the person or perso�s ,
<br /> :� legally entltled thereto. , : ��:' : .
<br /> ' (c) Trustee may in the manner provided by law postpone sale of ail or any portion ot the Trust Estate. :
<br /> ;, .
<br /> ' ` � 12. REMEDIES NOT D(CLUSIVE. Trustee and Beneflciary, and each of them, shall be ent�ded to er�orce �
<br /> paymern and performance oi any indebtedness or obllgations secured hereby and to exercise ail rigMs and powers under �
<br /> � this Second Deed of Trust or under any Loan Instrument cr other agreement or any Iaws now or hereafter in force; . . .
<br /> • notwithstanding,some or all of Yhe such lndebtedness and obUgations secured hereby may now or hereafter be otherwlse �
<br /> � secured,wheiher by mortgage,deed of trust,pledge,ilen,assignmeni or otherwise. Neither the acceptance of this Second . �
<br /> � Deed of Trust not its enforcement, whether by court action or pursuant to the power of sale or other powers hereln .
<br /> contained, shall pre�udice ar in any manner aifect Trustee's or Beneficiary's right to reatize upon or e�orce any other . .
<br /> security now or hereafter hetd by Trustee or Beneficiary,it being agreed that Trustee artd Beneiiclary,and each ot them,
<br /> shali be entitted to enforce this Second Deed of Trust and any other security now or hereafter held by Beneflciary ; �
<br /> �
<br /> :�; 3 � '
<br /> , .. �, . .
<br /> 's •"r . . � . - . . . � .
<br /> • . . �
<br /> �� . ' , • _. . . .. �-'.
<br /> .',L. ..,, ._ . , . . . .. • . .
<br /> . .. . ...�• . ... '• � . �r . ���.. . ... : _.-.,. . . ...��t.. r..... ._.. __..._ ... .... ._...�.. .... .............. . .. .., ._.a...`..J:.a_....1"_...........__a_:.L..,.. .'.1' ... .1_.�........._t_.
<br /> . . . .. . _ . . . .� �7 _
<br />
|