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<br /> t by owner's and operetors of simitar properties and as Beneficiary may require for its protection. Trustor w U compty :
<br /> ` ` with such ather requirements as Benefidarir may from time to time request fo�the protection by insurance of the . ����<'� •
<br /> interest of tha respective partles. All insurance policies maintained pursuant to this Deed of Trust shati name Trustor � �
<br /> � and BeneflCtary es i�sured,as their respective i�terest may eppear end provide thai there shall be no cencellatIon or • . .
<br /> K� . modiffcatian without fifteen (151 days priar wrltten nat[flcat�on to Yrustee and Benef�ciary. tN the event any paliay <<
<br /> � �� , hereunder is�ot renewed on or before tiiteen(15)daYs prior to its expiration date,Trustee or Beneficiary may procure �...,�f`� `. ��
<br /> J such tnsurence i� eccordance with the provisions of Paragraph 7. Trustor shall deliver to Beneficiary t�e oiiginal � , '<.;`.
<br /> � � • polictes of insurance and renewais thereof or copies of such policies artd renewais thereof. Failure to furnish suCh �� ` � .
<br /> -:- � �:: -- tnsurance by Trustor,or renewals es required hereundar,shatl,et the aptian of Betteficiary, constlUtte e defaWt. AIO - :.-.
<br />- � � � unearned premiurris sre hereby sssignec!to Trostee as additianal securrty,and a sale and conveyance of Yhe Ptoperty : ,w�..
<br /> �� , � " 4 by the 9'�ustee shsll operate to convey to the purchaser the Trustor's interest En and to ail policies of insurance upon ,. � ,
<br /> :`:. , . '
<br /> ` ` ' the T�ust Property. '"
<br /> ' � -.' 6. '1'a�cos and As�essme�. Trustor shall pay ait taxes and special assessments levisd or assessed against,or ' ` � `
<br /> �� , due upon,tite Property betore delinquency and wil!deliver to�enefidary capies of receipts shcwing payment of such ,' �4.�, . ',. ' °
<br /> - ' � , �. ,� , taxes and speciel essessments. �` �• =
<br />-- ' 6. AddiIItanal llens. Trustor shail make all payments of interest and principai,end payrtrents of any other charges, �` �'�' �� : :r`.Y;°�
<br />''4 ' • ��-' '�i fees,and expenses cont�acted to be paid to any existing lien holders or prlor beneficiaries under any prior Deed of , :' ���;;;r. .
<br /> � • ' ' Trust,Mortgage ar other securlty agreement, batore the date they are delirtquent and to pay any other ciaim which �.,;�,_
<br /> - : - jeopardizes tfis security granted herein. , �'''�"
<br /> ' , 7. �otectton of�eneftdary's Security. Shoutd Trustor fai!to make eny payment,fail to da any acf as herein •
<br /> • � provIded ar if arry acticn or praceeding is cammenced which materiaity affecte Benaftciary's Interest in the P►operty.
<br /> � • indading, but rto limited to, emtnent domain. insolve�cy, errangements or proceedings invo{ving a banlwpt or �'��!,.,�.:�
<br /> a��° . decedent,then Benshc€ary or Trustee,but without obiigation to do so,and without notice to or demand upon Trustar. � � •__—
<br /> � � � � ' and without releasing Ytustar from eny obligation hereunQer, mey make or do 4he same, and may pay, purchase, � t•m,.-
<br /> • � - con�est cr aompromise andy encumbrance, charge or lien, which in the judgement of either appears to affect said • �� ` }`:�t=
<br /> • • Property;in exe�cising any sucli powers,the Beneftciary or Trustee may incur a liabtlity and expend vuhatever amounts, '��; �,_
<br /> `` inctuding disbursements of reasonable ett�nrney's fees, ovhich in their absolute discretion may be necessary. In tthe � `, �'�'
<br /> -" �� � - eveni that Trustor s ha 0 fa i l to prccurs insuran c e, f e�l t o p a y t a x e s a n d s p e c i a f a s s e s s m e n t s o r t a i l t o m a k e a n y • � � ��=``�"`�
<br /> •:• ��_ ��.-
<br /> � payments tu extsting or prior fien holders or beneficiades,the Bene�iciary may pracure such insurance and make such � -. ;_�•:�;
<br /> ; . `. 3�
<br /> �:� paymenis. Ali sums incurred or expended 6y Beneftciary ot Trustee in accordartce with the provtsions of the aeed of . _
<br /> ' Trust are sectsred hereby and,without demand,shat!be immediately due and payabte by Trustor and sha{I bear interest � � �=`_
<br /> �;� . —
<br />' � � at the raRe provided ior advances under the Loan Agreement;provtded,however,thet at the option of the Beneflciary ,r-�- ��,�.
<br /> • � or Trustee,such sums may be added to this principal balance of any indebtedness secured hereby and shall beat the -_=__
<br /> •• ` � � same interest as such indebtedness end shall 6e payabte ratabty over the remaining term thereof. " �';y�
<br />.'��` • 8. Aasignment of Rerns. 8eneficiary shall have the rtght,power and authority durtng the cont�nuance of this Qeed -_�_
<br /> y°. '.. ' of Trost to collect the rents,issues and profits of the Propercy and of any personal property toceted thereon with or .� �-•.=�
<br /> � -� - • without ta�ing possession of the Property effected hereby,and Trusior hereby absoluteiy and unconditionalty assfgns ��;. ; ` .,
<br /> all such rents,issues and pro�ts to Benef�ciary. Beneficiary,howevet.hereby sonsents to the Trustor's collectlon and . � �..�;;,.
<br /> � � retention of sach rents,issues and profits as they accrue and become payabte so long as Trustor is not,at such time, . ; �;���
<br /> in default with respect to payment of any indebtedness secured hereby or in the erformance of an agreement ' "�� �
<br /> � � hereunder. Upon any such defauit,Beneftciary may at any time, either In person, by agent or by a receiver to be �-..,
<br /> � appointed by a court,without notice and without�egard to the adequacy of any security for the indebtedness hereby , --
<br /> t;�'.. ' ' secured: (a) enter upon and take possession of the Property or any part thereof and in its own name sue tor or .' �,��
<br />.=�,.,, • ' otherwise collect such rents, issues and profits,Inctudl�g those past due and unpaid,an apply the sema,less costs •
<br /> �� - ` and expensea ot oparatton and collection,including reasaneble attorney fees,upon any lndebtedness secured hereby „ � . ���:
<br /> r.�. � � and in such order as Beneficiary may datermine:(b)perform such acts of repair or protection as may be necessary or � ',�
<br /> ° � � proper to conserve the veius of the Property:(c)tease the same or any part hereof tor such rentel term and upon such . �' ,. .; _
<br /> `j �� ' � conditions as its judgment may dtctats. Unless Trustar and Beneiiciary sgree othetwise in wrlting,any appiication of _-
<br /> � . . � rents,issuas or profits to any indebtedness secured hereby shall not extend or postpone the due date o�the instaltment ' � � .
<br /> . ' payments as provided in the Loan Agreement, and the application thereof as atoresaid shatl not waive or cure arty -
<br /> - � defauit or noiica of defauk hereunder or invalidate any act done pursuartt to such notice. Trustor also assigns to :
<br /> ' � Beneftciary, as further security for the performance of the obitgatlons secuted hereby,ail prepaid�ents and att monfes , - ,; ��
<br /> � which may have been or may herQafter be deposited with said Trustvr by any lessee of the Property,to secure the �,• . �
<br />.. . payment of eny rent,and upon default in the performa�ce of any ot the provislons hereof,Trostor agrees to detiver � �
<br /> : � � � such rents and deposits to the Beneifciary. Qelivery of written notice ot Beneflciary's exercise of the rlghts granted .. • . .
<br /> _�:,;, , herein to any tenant occupying said premises shall be sufflcient to require said tenant to pay said �ent to the
<br /> , i Beneflciary until further notice. . ,
<br /> . . ; 9. Condemnatlon. If tltte to any part of the Property shall be taken in condemnatlon proceedings, by right of , ,
<br /> : • ' ' eminent domain or similar sction, cr shatl be sold under threat of cortdemnation, all awards,damages and psoceeds .
<br /> . ' are hereby assigned and shali be paid to Beneftciary uvho shaU apR�Y$uch award,damages and proceeds to the sums �. .:
<br /> ' � secured bV the Qaed at Trust,with the excess,it any, pald to the Trustor.
<br /> •� � 10. iuture Advences. The Loan Agreement provldes for advances from time to time to Trustor by Beneflciary ' •
<br /> � •• � as provided therein. in additton,upon request of Trustar,Beneficlary,ai Beneficiary's option,prior to reconveyance .
<br /> ' � ot the Property to the Trustor, may make additlonai future advances to the Trustor. Such future advances, wlth � . �.
<br /> ' � ' Interest thereon, shall be secured by this Qeed of Trust when evidenced by promissory notes steting that satd notes ,
<br /> � are secured hereby; provided that at no time shall the secured principal and future advances, not inctuding sums
<br /> advanced to protect the securlty, exceed one hundred percent (100%) of the original principal amounts secured � � •
<br /> ..�� hereby.
<br /> *` :� • ' . 11. Remediea CumulaUve. All remedies provided in this Deed of Trust are distinct and cumulati�e to any other . � "
<br />.� .` . , right or remedy under this Oeed ot Trust or afforded by Iaw or equity, and may be exarcised cortcurrently, . � �
<br /> � • . irtdependently or successively. • .
<br /> -• ? � � 12. Accateratton; Rerr�edtes; Sale. A default shall exist in the event of: .
<br /> � . • � (A) Any fraud or misrepresentation by the Trustar in connectian with the line of credit which this Deed of Trust '. .
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