|
� :� . . �I� _.L. �t:� a'..�•t i��4 F _J:�
<br /> ^,c-yn'c^� � . , ' .—` �4�. ` -� - ... -.. . .__. . __ -,t. _ �� ti.. " .
<br /> � ` <. . . . . S i+ t C .j.J--��_-..,. ` - ��. ' ' � _. . � - 'f�� �� , m.- _ _ - � �{� .
<br /> . t . ... n�� ����� , ' ' '`v
<br /> \/ (' �V
<br /> ` or an thereof,ar for cnnveyance in lieu of oondemRation. <'ti ,, _' ;
<br /> � ' �Proceeds7 in oonne�Kion with canderrmaUon ar otner taking of tl[e Property��o� �ame any action or proceedings,and shatl also � _
<br /> Lender shati be entiUed at its option to CommenCe,apPeaf�^and prosec� ' �
<br /> he entitled to make any compromise or settisment in oannection wit3�such ta4dng or damage.in the event any portion of the Property is ".<��
<br /> ' ' . � �t ` so taken or damaged.Lendsr sha11 have the opttoo(n its 5ale and ahs°luta discretion, ro appty�I such proceeds. after deducdng
<br /> ` � ' th@refrom a 1 t c o s t s and ex Qenses incurred by it in conneation with such Procesds,upon any iadebtedness secured hereby and In such , ..;�
<br /> , . ordet as Le�der may determine.or to eppty aU such Proceeds.after such deductions.to the resto*ation o t t he Prop e r l y u p on such care- �< `.AY. ,
<br /> ' • ditions as Lender may determine.My app�{cation oi Proceeds to indebtedness shail not extend or postpone the due daie of any pay- �<.�
<br /> ` ments under the Note.ar cure any detault theraunder or hereunder.My unapplied tunQs shail be paid to Trustor.
<br /> = ` ' g.periormance by Lender.Upon the accurrenee ot an Event of Default hereunder,or'rf any ad is taken or legal proceeding
<br /> ! � � " onmmenoed which materialty attecES Lende�s interest in the PropanY,�ender may in i4s uum disaetian.bui without obligation to do so.
<br /> ' ' and without noUce to or demand upon Trustor and without releasing Tnistor��8 B��heteof.Trostor shallT mmed'��atety upn . .`
<br /> ' -�. '� but failed to Qo and may also do any other act it deems necessary P ___ � _
<br /> _ - � dsmand ttsseretor by Lender,pay to Lender sU costs and expertses incurted and sums expended by Lender in connection with ihe exer-
<br /> eto
<br /> , • .� clse by Lender of the faregotng rights,tngether with interast therean at the defauft rete protided in the Note.v�hid►sha��be added ta
<br /> � the indebtedness secured hereby.Lender shati not inwr any IlabiGry because of anything it mayr�db�er�aw�st ordinances anC regutations �
<br /> '. , . � in compt'�ance with all app
<br /> 9. Hazardous Materiats•Trustor shati keep the Properry�
<br /> �' reiating to indusGial hygiene or snvironmenlal protection(ccitecGvelY seferred t°herein ac"Environmental Laws7•Tnistor shail keep �
<br /> . ` � � q�e property iree from aii substances deemed to be hazardous or toxic under any Environrrtental Laws(co►lecavely referred to herein �``
<br /> as"Hazardous Materiats').Trustor hereby warrants and represents to Lender that there are no Nazardous Mate�iats an or under the
<br /> `.. ,. ` propeRy.Trustor here6y agrees to indemnify and hotd hartnless Lender.its directors.officers.emPtoyses and a9ents.a�d arry succes- _ ;,
<br /> sors to Lenders ir�terest.irom and agatnst any and ali daims.dama9es.(osses a�d 1'�abifities arising in oonnection with the presence. , r:��'
<br /> '.: r°:.: .-.
<br /> ', : .� . _ �@�d��'�r 8NS AND TRUS�TOR'S QB IGATIONS PU SUANT TO THEPFOREGOING N EN1N�T1f,SHALL S RU VE � L--;
<br /> REPi2ESENTATI . - , i; .,
<br /> _ - RECpNVEYMtCE OF THIS DEED OF TRUST. 'l '=
<br /> � 10.Assignment o!Rents.Trustor hereby asstgns to Lender,and grants Lender a securitY inLeres�in,all p[esen�future and ��` ,.� �
<br />- , after arising rer►is.issues a n d p r o fi t s o f t h e Pro pe rt y:Provided that Trustor sha�l,until the occurrence of an Event of Oefauft,hereunder, •' ��f,�,,S,
<br /> . '� hare the dght to co�tect and retain such rerrts,issues and profits as they become due and payabte.Upon the oa;urrence of a n E v e n t o f _�.�,.:'-
<br /> Oefauit,Lender may,either in person or by agent,with or wlthout bringing any action or proceeding,or by a receiver appointed by a _ ,.::Y�;.3
<br />� � � caurt and without regard to tbe adequacy of its security.enter upon and take possession of the Property,or any part ihereof,in its own ; �;;�,;-�
<br /> - - - or desirabte to preserve the value.madcetability ar '. ��_
<br /> - , '��- name or in the name of the Trustee,and do any acts which it deems necessary p h�and. -- _
<br /> ' �'�,r—
<br /> - � rentability of the PropeRy.or any part thereof ar interest therein,or to increase the income therefrom or rotect Utie security z,r�.'�
<br /> � �• with or wrthout taking possession of the Property,sue for or otherwise coilsd the rents,issues and profits thereof,inc�uding thase past � P�=_
<br />. • �_ due and unpaid,by notifying tenants to make payments to Lender.Lender may appty rents,issues and profits,less cosGs artd exPens-
<br /> � ..�. ��-�
<br /> �- . . • - es ot operation and wllecction inctuding attomey's fees,to any indebtedness secured hereby,all in such order as Lender maY Ceter- i �}i�.�`T'.;__
<br /> � e the coltecGon of sud�rents.issuea and profiLs.artd tha appGcatlon �
<br /> ' -` mine.The entering upon and taking possession of fhe Property. "'`..�.�-�
<br /> `" thereof as afiresaid shatl not cure or wai+re any defauit or notice of defauit hereunder or tnvaiidate any act done in response to such ,�r•,:.
<br /> ..". ;-+�'!r;
<br /> � defautt or pursuant to such notice of defauit and,notwithshanding the continuance in possession of the property or the co�►ectlon, _; �.
<br /> � •'� i: � receipt an d app licaUon of rents,issues or profits.Tnutee and Lender shail be entitleQ to exerclse every�igM provided for in any oi the :.<..,w�-P?,
<br />- � � Loan InsWments or by law upon occurcence of any Event of Oefault,iaduding wtthaut IimitaUon the right to exe r d se t he power oi sate. '� '��.��.'.!:
<br /> � � � . Further,Lenders dghts and remedies under this parag►aDh shall be cumulatIve with,and in no way a limitation on.Lenders rights and
<br /> ;i;���
<br /> � remedies under any assignment of teases and rents recorded against the RroPerey Lender.Tnistee artd the receiver shail be liabfe to :,'���
<br /> � • accaunt onty for those rents actualty received. • '`,-,
<br /> 11.Evenffi ot Oefaul�The foilowirtg shall constitute an Event of Default under this Deed of Trusx ..;:�.;:
<br /> . (a j F a i l u c e t o p a y a n y i n s t a i l m e n t o i p r inci pai or interest or any other sum secured hereby when due; �;...,r :.__
<br /> � • . �: ," � (b)A breach of or defautt under any pcovision coniained in the Note.this Oeed of Trus t,any o f t h e L o a n I n s W m e n t s,o r a n y =�;�
<br /> �.:,"-�._
<br /> � other lien or encumbrance upon the PropeRy; " '"•"'
<br /> , (c)A writ oi execution or attachment or any similar process shatl be entered against Trustor which shail become a Ilen on
<br /> ...,�.�:_
<br /> ' '" ' the PropeRy or any porUon thereof or interest therein; --
<br /> � . (d)There shall be filed by or against Trustor or Borrower an action under any presertt ar future iede�al,state or other statute, �
<br /> ' taw or regutaUon relating to bankruptcy,insotvency or other reliei for debtors:or thare shall be appointed any trustea,recelver or ..;T�
<br />.''�' � liquidator oi Trustor or Borrower or oi ail or any paR of the Properly.or the rents,issues or profits thereof.or Tnutar or Bortower ,.
<br /> .� . ( shall make arty general assignment for the benefit af credibrs; � ;;�i�
<br /> � f (e)The sate,transfer,�ease,asstgnmen� conveyance or turther encumbrance ot all or any parl of or any interest in the . .: �t
<br /> Property,either voluntarily or involuntarity,without the express written consent of Lender,provided that Tnistor shali be permit-
<br /> � ��. ted to executa a lease ot the Property that does not contain an opUon to purchase and the term of whtch does�ot exceed one
<br />. � year. , �
<br /> . , (f�Abandonment oithe PropeAy;or �.
<br /> � (g)It 7rustor ls not an individual,the Issuance,sale,transfer,assignment,conveyance or encumbrance oi more than(it a
<br /> . coryoraUon)a total of percent of its issued and outstanding stock,or(H a partnership)a total of p��•
<br /> cent of partnership interests,or(ii a limited liability oompany)a total of percent oi the limtted liability compa-
<br /> ;�. , ny intarests or voting�Igfits during the pedad this Oeed of Trust remalns a lien on the property- • � ,
<br /> . .' � 12.Remedies;Acceteration I�pon Detaui�In the event oi any Event oi Default lender may,without noUce except ats required
<br /> • by lavr,dectare all indebtedness secured hereby to be due and payable antl the same shall thereupon becomv due and payabte wlth-
<br /> � .• out any presentment,demand,protest or notice o1 any klnd.Thereafter Lender may: �
<br /> • . (a)Demand that Trustee exercise the POWER OF SALE granted herein,an0 Trustee shall thereafter cause Trustor's inter-
<br /> �;�`! . est b tExercise any and ail�ighb p ovded for�n anytof ttre Loa'n InsWments o by law upon occru enceNOi any E en ot
<br /> � ' De auih,and ' '
<br /> � (c)Commence an action 4o toreclose this Deed ot Trust as a mortgage,appoint a recetver,or speciticaliy enforce any oT Ure
<br /> � covenanis hereoi.
<br /> � No remedy herein conferced upon or reserved to Trustee or Lender is intended to be exciusive of any other remedy hereln,in the Loan
<br /> •• � in tha Loan insUumentpsror i ow or hereafter�existin9 t aw'ob n equi�ty or by statute,iand miay be exeraised concurrentlyv ndependenUy .
<br /> , � ; or succesive�y. �
<br /> ' 13.Trustee.The Trustee may res�gn at any time without cause,and Lender may at any time and without cause appoint a suo-
<br /> ' cessor or substitute Trustee.Trustee shail not be liabte to any party,inGuding without OmitaUon Lender,Barcower.Trustor or any pur-
<br /> chaser of tha Property,for any loss or damage unless due to reckless or williul misconduct,and shaH not be required to take any action
<br /> � in connection with the entorcement of this Deed of Trust un�ess indemnified,in writing,for all costs,compensaUon or expenses which
<br /> . , may be assoGated therewltone the sale of all oteany port ofn of the P opeAy+,as prov ded by law;opse thea�PropeRy as a who ewor in
<br /> sale granted herein);pos Q , .
<br /> � � separate parcets or tots at Trostee's discretion. �
<br /> 14.Fees and Exponses.In the event Trustee selis the Property by exercise o(powar of sate.Trustee shaU be entitted to aDD►Y
<br /> �� . any sale proceeds first to payment ot atl cosis and expenses oi exerGsing power of sale,including atl Trustee's fees,and Lender's and
<br /> Trustee's attomey's tees. actuaily incurred to extent permitted by applipble law.In the event Bonower or Trustor exerc+ses any right
<br /> . � provided by law to cure an Event of Detauit,Lender shall be entiUed to recover irom Trustor all costs and expenses aCtualiy incurred as
<br /> � a result ot Trustor's detault,inctuding without limitation all Trustee's and attomey's tees,to the extent permitted by appticabte law.
<br /> • • 15. Futuro Advancos. Upan request of Borrower,Lender may,at its option,make additional and tuture advances and read-
<br /> �''- � �ancas 2o Sa.:offsr.Sach a!luancP,s and readvances,with interest thereon,shall be secured by this Deed of Trust.At no time shatl the L
<br /> r--�---
<br /> - ' � .
<br /> ,t.
<br /> • �
<br /> .. . � • .
<br /> �,�,,.r , � • . . -
<br /> ' ' • - . .
<br /> . . . . _ . . . .i' r -r. - ,
<br /> '-.1`"[�'-, � ' �. " : �� �'-� • �.6' '., ,ti . . .,. r,..{ ' , ... i � � ' `
<br /> r,_x_',::i'"�li�?": ci..a''�If3,��.�._,�.i 1��aimmua�aa� - -��"„"`�� �,.�...�. . w . ._ t 1 _� ..c_ .c - t. � � -_.
<br /> f 4� i�l' �'�l.v_^�'^SL^.. +^[^` ^"'i• �a '_-�.�'-..s V" � 'T:'^ +;s.-��..� .!=^a
<br /> . � �
<br /> -
<br /> [ _i.-�-�_�'la��-���+�''-..a 3'�-i-�L -`�`� "'rii_�:�3' 1�_� __— ___ - _i-. 2.
<br />
|