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<br /> � by owner's and operators of similar praperties and as Beneficiary may require for its protection. Trustor will comply � ;` • ;
<br /> � � ° with such other requirements as Bene�ciary may from Ume tc ttme request tor the protection by insurance of the �,�..:,�. F .�... ..
<br /> ' interey-t af the respective parties. All insurance polides maintatned pursuant to this Oeed of Trust shall name Trustor " ti . �,�
<br /> � and 6eneficiary as insured, as their respective interest may appear and provide that there shsil 6e no cencellation ar
<br /> : �� ' � `� ' modification without fifteen (15)days prior written notification to T�ustee and Benefiaiary. IN the event any poficy -��° � � G.
<br /> hereunder is not renawed on or before fifteen t15)days prior to its expiration date,Trustee or Beneficiary msy procure � •
<br /> such insutance in accordance with the provisions of Paragraph 7. Trustor shatl deliver to Benaficiary the orig[nal , • ., .
<br /> � ' . poliaies of insurance and renewals thereof or copies of such policies and renewals thsreof. Fa�'fure to fumish svch � , :f;; `.
<br /> <._`. . .
<br /> insurance by Trustor, or renewats as required hereunder,shall, at the option of Beneficiary, constitute a defauk. All
<br /> - �.,.---� � u�ned premiums are hereby assigned to Trustee as additional security,and a sa3e and convayance of the Property _ -�_ _'`_
<br /> . � by the Trustee shati operate to convey to the purchaser the Trustw's interest in and to ail policies of insura�ce upon .
<br /> ' . the Tntst Property. . -� _
<br /> � � 5. Yaxes and Assessments. Trustor shall pay alt taxes and special assessment�levied or assessed against, or •� ' - ' -.•���
<br /> �' dae upon,the Property hefore delinquency and will deitver io Benefcciary copies of receipts showing payment of such ����� S.`::
<br /> ' taxes and special assessments. ••:` `. �:,' •�
<br /> 6. Additionai Llena. Trustor shall make all payments of interest and principal,and payments of any other charges, �.•�'�- << ':'i'.:, .
<br /> � fees, and expenses cont►acted to be paid to any existing iien holders or prior beneficiaries under any prior Deed of ' . ' �, `_•
<br /> - • Trust, Martgage or other security agreement, before the date they are delinquent and to pay a�y other claim which '�r �_ •`'„�.�-•,:-_
<br /> `•;` r,..,:���
<br /> � . jeopardizes the securiry graraed herein. ,. . .' —
<br /> � 7. Protectton of Beneflctary's Security. Shoutd Trustor fail to make any payment, tail to da any act as herein ',. .5;�;���-��
<br /> � , . . provided or if any action or proceedfig is commenced which materially affects Beneficiary's Interest in the Pro(serty, - � • _
<br /> - . � inctuding, but no limited to, eminent domain. Insolvency, arrangements or proceedings involving a bankrupt cr � :�
<br /> decedent,then Beneficiary or Trustee,but without obitgation ta da so,and without natice to or demand upon Trustar, :•�:--:
<br /> � and without releasing Trustor from any obltgadan hereunder, may make or do the same, and may pay, purchase, � •.� ��°�
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<br /> ,- ' � - contest or compromise andy encumbrance, charge or tien, whfch in the judgement of either appears to affect sgid __ : , _�;
<br /> • . Property;in exercising any such powers,the Benaficiary or Trustee may incur a liability artd expend whatever amounts,
<br /> ' � inciuding disbursements of reasonable attorney's fees,which in their absotute discretton mey be necessary. In the �. � ` `��
<br /> event that T►ustor shail fail to procure insurence, fail to pey taxes end s pecial �ssessments or feil to make any ¢� • %:'•-°
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<br /> - payments to existinfl or prFor Iten holders or beneficiaries,the Be�eficiary may procure such insurance and make such ..�,��,�_,:
<br /> , . �_....
<br /> • � payments. All sums incur►ed or expended by Benet�ciary or Trustee in accordance with the provisions of the Deed of _ ;
<br /> ' Trust ate secured hereby and,without demand,shall be immediatety due and payable by Trustor and shall6ear interest ' •����.-
<br /> • • ' at the rate provided far advances unde►the Loan Agreement;provlded,however,that ai the option of the Beneficiary �. . "�*.�>=
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<br /> or Trustee, such sums may be added to this principal balance of any indsbtedness secured hereby and shali bear the -, �::,�^_�M.
<br /> ' < . same interest as sucfi indebtedness and shali be payable tatably over the remeining term thereof. ;..�;�=�"._�
<br /> .' 6, Asstgnment of Rents. Beneflciary shati have the right,power and authority during the continuance of this Deed
<br /> ,. �:,
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<br /> � of Trust to collect the rents,issues and profits of the Property and of any personal property located thereon with or f,:,�_,��
<br /> � without takirtg possession of the Property affected he�eby,and Trustor hereby absolutely and unconditionally assigns ��_„�'.
<br /> . � . :__.� all such rents,issues and profits to Beneficiary. Beneficiary,however,hereby consents to the Trusto�'s collection and . • �
<br /> '` retention of such rants,issues and profits as they accrue and become payable so long es Trustor is not,at such tima, `��
<br /> n,,
<br /> ; in default with respect to payment of any indebtedness secured hereby or in the performance of any agreement � � ��'���
<br /> hereunder. Upon any such default, Beneficiary may at any time, either in person, by agent or by a receiver to be - �` :i``�-:
<br /> , . � apDoi�ted by a court,without�otice and without regard to the adequacy of any security for the indebtedness hereby , . "'!`�>. '
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<br /> • secured: iaf enter upan and take possession of the Property or any.part thereof artd in its own �ame sue for or ��_.
<br /> �' � otherwlse coltect such rerts, issues and profits, including those past due and unpaid, an apply the same, less costs . ';�«°
<br /> ' and expenses of operation and collection,including reasonable attorney fees,upon any indehtedness secured hereby ' • , �.4�:
<br /> • � and in such order as Beneficiary may determine: (b1 Derform such acts of repair or protectlon as may be necessary or : . .,_ ,
<br /> proper to conserve the value of the Property:(c)leass the same or any part hereof for such rental term and upon such • �p,.-,_�•`
<br /> � conditions as ite judgment may dictate. Untess Trustor end Beneficiary agree otherwise in wr'iting,any applicatlon oi • . � �
<br /> � rents,issues or profits to any indebiedness secured hereby shatl not extend or postpone the due date of the instailment . . � . .
<br /> • • payments as provided in the Loan Agreement, and the application thereof as atoresaid shail not waive or cure any . • ,
<br /> default or notice of default hereunder or invalidate any act done pursuant to such notice. Trustor a{so assigns to • :
<br /> Beneflciery,as further security for the performance of the obligations secured hereby,all prepaid rents and ail moniea �
<br /> � which may have been or may hereafter be depasited with satd Trustor by any lessee of the Property,to secure the
<br /> � payment of any rent,and upon default in the performance of any of the provlsions hereof,Trustor agrees to detiver •
<br /> � such rents and deposits to the Beneficiary. Delivery of written notice of Beneficiary'3 exercise of the rights granted .
<br /> herein to any tenant occupying said premises shall be sufficient to require said tenant to pay said rent to the - '
<br /> '� Beneficiary until further notice. �
<br /> • 9, CondemnaUon. Ii title to any part of the Property shall be taken ln condemnation proceedings, by right of - . �
<br /> �• eminent domain or similar action, or shall be sotd under threat ot condemnation, all awards,damages and proceeds ' ".
<br /> ' are hereby assigned and shall be paid to Beneficiary who shall apply such award,damages and proceeds to the sums
<br /> � secured by the Deed of Trust, with the excess, if eny,paid to the Trustor. •
<br /> � 10. Future Advances. The Loan Agreement provides for advances from time to time to Trustor by Beneticiary .
<br /> as provided therein. In addition, upon request of Trustor, Beneficiary, at Beneficiory's option, prior to reconveyance •
<br /> of the Property to the Trustor, may make additional future advances to the Trustor. Such future advances, with :
<br /> � interest thereon,shall be secured by this Deed of Trust when evidenced by promissory notes stating that said notes
<br /> � ' are secured hereby; provided that at no time shall the secured principai and future advances, not including sums . '
<br /> � advanced to protect the security, exceed one hundred percent (100%1 ot the original principal amounts secured ' . . .
<br /> ... hereby. � �
<br /> � ' 11. Remedies Cumulative. All remedies provided in this Deed of Trust ere distinct and cumulatit�e t�any other
<br /> ' right or remedy under this Oeed of Trust or afforded by law ar equity, and may be exercised concurrently, } .
<br /> _ independently or successively. � . .'
<br /> - �. 12. Llcceteretion; Remedies; Sale. A default shali exist in the event of: �
<br /> IAl Any fraud or misrepresentation by the Trustor in connection with the line of credit which this Deed of Trust
<br /> .''" secures;
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