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<br /> 5. WASTE. That the Borcower shall not commit or suffer any waste of the property. ��
<br /> . 6. Lender or ir.s agent may niake reasonable entries upon and inspections of the Property. Lender shall .
<br /> give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. _
<br /> 7. CONDEMIVATION. The proceeds of any award or claim for dama�;es, direct or consequentiul, in �
<br /> connection with any condemnation or ather takin� of any part of the Property, or for conveyance in lieu of , .
<br /> condemnation, are hereby assi�;ned and shall be paid to Lender.
<br /> 8. BORROW�R NOT RFLEASED; FORBEARANCE BY LENDER NOT A WAiVER. Extension of �� -
<br /> ' the time for payment or modification of amortization of the sums secured by this Security Instrument granted by ,.
<br /> Lender to Borrower or any successor in interest of Borrower shall not operate to release the liability Af the I
<br /> oribinal Bonower or Bonower's successors in interest. Lender shall not be required to commence proceedings
<br /> against any successor in interest or refuse ro extend time for payntent or c�thcr�visc moditv �tnu�rtiiatinn c�f the
<br /> sums secured by this Security Instrument by r�ason of any demand made by the original Borrower or Borrower's .,��,,..'
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<br /> successors in interest. Any forbearance by Lender in exercisin� any ri�ht or remedy, shall nat be a waiver of or „ , . , �
<br /> preclude the exercise of any ri�ht ar remedy. •,�,�'`��=
<br /> 9. DEFAUI..T. That. ifthe Borrower defaults in any of the covenants or agreements contained herein or , # ._�____
<br /> �n perf'ormance of the Promissory Note(s)secured hereby,then the Beneficiary may pe r form t he same an d t ha t a l l �a __
<br /> ex enditures made by Beneficiary in so doing shall draw interest at the rate provided in the Promissory Note(s) „ a���
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<br /> and shall be repayable by Borrower to Beneficiary and,together with interest and costs accruin�thereon, shall be ;
<br /> secured by this Deed of Trust . �'` � � '��
<br /> 10. ACCELERATION UPON DEFAULT. If the Borrower defaults in the payment of any installment of , �
<br /> � principal or interest due under said Promissory Note(s) or if the Borrower defaults in the performance of any ����
<br /> " other covenant or a�reement to be performed under said Promissory Note(s) or this Deed of Trust, or if a �,� ,
<br /> • trustee, receiver or liquidator of the Property or of Borrower shall be appointed, or any of the creditors of , y4 ' ``'.,
<br /> - = �`- �orrow�r sha:l fi!e s�etition in bankn�ptcy atainst Borrower, or for the reorganization of Bonower pursuant to .�;,�_ .
<br /> � the Federal Bankruptcy Code, or any similar law, whether federal or state, and if such order or petition shall not . � :6-- s
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<br />- be dischar�ed or dismissed within thirty (30) days after the date on which such order or petition was filed. ,, .,��M
<br /> � Borrower shall file a petition pursuant to the Federal Bankruptcy Code or any similar law, federal or state, or if �,`; A
<br /> ` Borcower shall be adjudged a bankrupt, or be declared insolvent, or shall make an assignment for the benefit of �
<br /> � creditors, or shall admit in writing its inability to pay its debts as they become due, or shall consent to the k � �. .
<br /> �` appointment of a receiver of all or any part of the property. _ ;
<br /> � Upon the occurrenc�e of any of the above described defaults, or anytime thereafter, Beneficiary may,at its .
<br /> �: � option, declare all the indebtedness secured hereby immediately due and payable and the same shall bear interest `_
<br /> at the default rate, if any, set forth in the Note, or otherwise at the hi�hest rate permitced by law, and,
<br /> �; inespective of whether Beneficiary exercises said option, it may, at its option and in its sole discretion, without ._--.��
<br />- , �, any furtUer notice or demand to or upon Trustor, do one or more of the following: (a) Beneficiary may enter �-�� v
<br /> upon, take possession of,manage and operate the Pr�perty or any part thereof; make repairs and possession, in � _ ^
<br /> its own name, sue for or otherwise collect and receive rents, issues and profits, including those past due and _ _ _
<br /> �� unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorney __-----
<br /> _ � fees an� Beneficiary's costs, upon the indebtedness secured hereby and in such order as Beneficiary may =_� - __
<br />_ „ determine. The entering upon and takinb possession of the Property, the collection of any rents, issues and �
<br /> _. � � � profits, and the application thereof as aforesaid, shall not cure or waive any default theretofore or thereafter __ __�
<br /> occurring, or affect any notice of default or notice of sale hereunder or invalidate any act done pursuant to any ���'�`""
<br /> ' such notice. Reneficiary may brin� any action in any court of competent jurisdiction to foreclose this Deed of � �" `�
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<br />= Ttust or e►iforce any of the covenants hereof and Beneficiary may elect to cause the Property or any part thereof �w,.,- ,..
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<br /> to be sold under the power of sale, and in such event,Beneficiary or Trustee shall�ive such notice of default and . ; . ~•, .� .
<br /> notice of sale as ttiay be then required by law. • � .
<br /> 1 l. POWER OF SALE. That the Borrower hereby confers upon the "frustee a power to sell the
<br /> property which the Trustee may exercise and under which the praperty may be sold in the manner provided by � �
<br /> law. At the option of the beneficiary,this lleed of Trust may be foreclossd in the manner provided by lav,+for the
<br /> — foreclosure of mort�;af;e on real property. That, if a sale af the property by the Trustee is exercised under this
<br /> power of sale, the proceeds shall be applied first to the payment of the costs and expenses of exercising the
<br /> - power of sale,including the fee of the Trustee in an amount not to exceed two per cent (2%) of the sale price
<br /> --: .L.._ .,. «w., ...,.�.,,o.,* .,f nc�+ nhl�oatinn car�irrri hv thp I�eed �f Trust and the balance, if any, to the person or
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<br /> � persons legally entitled thereto. ,
<br /> 12. ACCEI�ERATION IN THE EVENT OF TRANSFER. In the event the title to the said real estate is �
<br /> transferred, or contracted to be transferred, fram the undersigned for any reason or by any method whatsoever, .. .
<br /> - the entire principal sum and the accrued interest shall at once become due and payable at the election of the •
<br /> Beneficiary. Failure to exe�•cise this option because of transfer of title as above stated in one instance shall not
<br /> constitute a waiver of the right to exercise the same in the event of any subsequent transfer.
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