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<br /> or art thereof,or for comreyance in lieu o cond mnation. , �`'�,,
<br /> 'Rroceeds`)in Connection with condemnation or other takin�of the Property D . • • ;-
<br /> Lendar shalt be eM.iUed at its apfion to commence,appsar in end prosecuta�n its own name any action or proceedings.and shait atso ,j-,
<br /> be entitled to make any compromis$or settlement in connaction with such taking or damags.In the event any portion of the Pmperty is :� ..
<br /> so taken or damaged. Lender shai! have the aptian in its sole and absolute discretion.to a�ply ail such proceeds, after deducting
<br /> therefrom aIl costs and expenses incurred by it in connection a����ductions,t he restorat on of the Pr PeRY uP n su'ch oon- � � i��
<br /> otder as Lender may determine,or to apply a!1 such Proceeds. ,
<br /> ditions as Lender may detertnine.�ny appliqtion ot Proceeds ta indebtedness shall nat extend or postpone the due date ot any pay-
<br /> ments under the Note.or cure any detault thereunder or hereunder.My unapp�ied funds shall be paid to Trustor. ,
<br /> � 8.Pertottnance by Lender. Upon the occurrence of art Event Le der mahgn ts own d�scretion,but ��ut obl gaGon to do so. `
<br /> commenced which materially aftects Lenders interest in the Property. Y , �
<br /> and�vithout notice to or desnand u�on Trustar and without reteasing l'rustor from any obligation,do any act which Trustor has agreed
<br /> but failed to do and may also dio Lender all costs a d expen es ncurted and sums eupended by Lender inco n�ectio�th the exer- , `. ,
<br /> demand therefor by Lender,pay , .
<br /> ase by Lender of the foregoing righis,together with interest thereon at the default rate provided in the Note,which shall bs added to
<br /> the indebtedness seeured herebY•Lender shall not incur any liabili nbe�mP an���tl�alt�appl cab�er�aws, ord nartces and regutations ,. • ,__
<br /> 9.4larardous AlJaterials.Trustor shaU keeP the Propsrty� .' _�� ."�._-s-'=.
<br /> relating to industrial hygiene or environmental protedion(collectivelY referted to herem as"Ernironrc�Ental Laws'}•T�ustO's�!ke9p .`
<br /> the prpperty tree from all substances deemed to be haz�rdous or toxic under any Environmental Laws(cotiectivety referred to herein
<br /> �;_���
<br /> as'Hazardous Materials�.Trustor 4�ereby watrants and mpl��nder,its directors.officers.e ployees�andNagents,arxi any suea�s- ' ' ' .���_-
<br /> Property-Trustor hereby agrees to indemnifyr and hold ha , „ . ..� � -��
<br /> sors to Lenders interest.from and against any and atl daims,damages.�osses and liabilities arising in connection with the presence. ; �;,�: - ��
<br /> t or banspoR of any Hazardous Materials on,under,irom or abaut the Praperty•THE FOREGOING WARRANTtES AND .�:�
<br /> use.disposa �""`�-''�-"
<br /> REPRESENTATIONS. AND TRUSTOR'S QBLIGATIONS PURSUANT TO 7HE FOREGOING INDEMNI7Y. SHALL SURVIVE . ��„".`
<br /> : - .- 2.,$.r•'��..'_":,���.-
<br /> RECONVEYIWCE OF THIS DEEO OF TRUSl'. "�'�
<br /> 's ' �.,":'����.
<br /> • i 10.Asslgnment ot Rents.Tnistor hareby assigns to Lendsr,and grants Lender a security interest in,atI present future and : • 4
<br /> rovided thatTrusWr shall,until the occurrence of an Event of Defautt,hereunder, -..��,-_—_
<br /> after arising rents,issues and profits of the Property;p �.;�, ��_._-
<br /> � have the right to collect and rn.tain such rents,issues and profits as they become due and payable.Upon the occurrence of an Event of _ ._.
<br /> Qefautt,Lender may.either in person or by agent,with or without bringing any action or proceeding, or by a receiver appointed by a • .��.�___
<br /> court and witfiout regard to tfie adequacy of Its security.enter upon and take possession of the Property.or any part thereof,in its ovm �-� ;,. _
<br /> name or in the name of the Trustee,and do any acts which it deems necessary or desirable to preserve the vatue,maricetability or �..�` =��-
<br /> rentabflity of the Property,or any part thereof or interest therein,or to inaease the income therefrom or protect the securfly hereof and, �-
<br /> '`'°, witfi or without taking possession of the Property,sue for or otherwise co��ect the rents,issues and profits 1hEreof,induding ffiose past ,,;�y� � _
<br /> due and unpaid,by notifyin�tenants to make payments to Lender.Lender may apply rents,issues and profits,Iess costs and expens- _ �.� -,
<br /> es of operadon and collec�an including attamey's fees.2o any indebiedness secured hereby,atI in such order as Lender may deter- " , �
<br /> mine.The entering upon and taking Poss2ssion of th2 Property.the co��ection of sucfi rents,issues and profits,and the appliptlon ; � • • �{;= ; �
<br /> thereof as aforesaid shall not cure or waivz any default or notice of;2fault hereunder or invaUdate any ad done in respons°to such ..,�s...��_,. �_ „ � _
<br /> ' . default or pursuant to such noGce of default and,nan�thsbnding the continuance in possession of the propertry or the ce,ladlon, :��, Y'��
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<br /> � receipt and appliption of rants,issues or profits.Trustea and Lender shall foe entiUed to exerdse every right Drovided for in any oi the � :,,:++ ..`
<br /> r��f�! ..
<br /> Loan Insbuments or by law upon occurrence of sny Eve�t of Defautt,inctuding without limitation tha right W exe�isa the power af sals. , •
<br /> � ; Further,Lender's rights an�i remedies under thls paragrdAh shall be cumulative with,and in no way a limtiat�on on,Lenders rights and ;,.A.t,. ,;�t. ::'.
<br /> ti ' � . �r .,�._.
<br /> � ., remedies under any assignment ot leases and rents recorded against the PropeRy.Lender,Trustee and the receiver shall be liable to 'a.��`t. -'f ;; -
<br /> _ eccount only for those rents actuatty received. � " � �"' __
<br /> 1 1.E v e n t s o f D e f a u M.T h e f oltowin g shall consUtute an Event of Default under this Qeed of Trust: �,.,'"'� �.: 1: `�
<br /> �. t:s .
<br /> (a)Fai!ure to pay any instatlment of pdncipal or interest or any other sum secu r e d here by w h e n d u e; ,:,t ,_
<br />• (b)A breach of or Cefault under any provlsion contalned tn the Note,this Deed of Tnist,any ot the Loan Instruments,or any � ,- ,v: • �
<br /> othar lien or encumbrance upon the Property; �� ';�
<br /> � (c)A writ of executlon or attachment or any similar process shall be entered against Trustor which shatl become a lien on _j.�._�.
<br /> ,'4�_ the Pr��erty or any porGon thereof or interest therein; -':- ._ '�'
<br /> (d)There shall�e filed by or against TNStor or 8orrovrer an acUon under any present or future federal,state or othar statute. �;,� � _� —
<br /> law or regulaUon r�a2�ng to bankruptcy,insotvancy or other reliet for debturs:or fhere ehatl be appointed 2ny trustee.reteiver or .,����.r.',Y,�
<br /> � Ilquldator oi Tnistoz w Borrower or of aU or ar.y p3rt of the Property.or the 2nts.Issues or pro8ts therecf,or TnisWr or Borrowar _ _ ._
<br /> shali make any ger�aral assignment for ttt9 beReSt of creditors; `-•�'"-�.
<br /> (e)The sale,transfer,teasa.assignment,corneyance or fuRher encumbrance of 27 or any part of or any interest ln the ;.. --Y.,-._ __
<br /> ' Property,either voluntarlty or invofuntarity without the express written consent of Lender,provlded that Trustor shall be permit . �#E''�
<br /> � ted to execute a l�a of the Property that does noi contain an optlon to purchase an0 th3 term ot whicb daes not exceed one � � ���=
<br /> '�--- =
<br /> year, .°� �
<br /> (Q Abandonment of the PropeRy:cr • -�' ---
<br /> . (g)If Trustor is not an indlvldual,the issuance,sale.Vansfer,assignment,conveyreroe or encumbrance oi more than(if a ;t�T ° �
<br /> corporatlon)a Wtal of percent oi its issued and outstanding stock,or(if a Gartnership)a total of per- � �;r v F__ ` '
<br /> cent of partnership interests,or(if a Umlted Oabitity company)a total oi peroent of the Umited Iiabil:.y compa- .�.��s._�,,.�y.. _.._ .,
<br /> ,rl�,'+S'.
<br />� ny Interests or voting flghts du�ing the pedod thls De e d o t Trus t rema in s a U e n o n t h e p ro p e r t y .�.rz;�.:�-�.....; �.
<br /> 12.Rsmedles;Aeceleratlon Upon Detaut�In the event ot any Event oi Detault Lender may.wllhout noUce except as re4uired ••_: �
<br /> by law,dedare aIt indebtedness secured hereby to be due and payabte and the same shall thereupon become Aue and payabte v�lth- tl J:...R,_. , __
<br /> • out any presentrnent,demand,protest or noUce oi any Wnd.Thereafter Lender may: �:,. �.�- .��
<br />� (a)Demand that Trustee exerdse the POWER OF SALE granted hereln,anA Tnistee shall thereaft�r cause Trustnr's inter- .,:,.�,.� ,>:-; �
<br /> � est in the Property to be sold and the proceeds to be disVibuted,all in the manner provlded In the Nabtastce Trust Deeds Act; � : . �:
<br /> (b) Exerclse any and all �ights provlded tor In any of the Loan Inatruments or by law upon occurrence ot any Event of '
<br /> Oefautk and
<br />, (c)Commence an aotion to foreclose lhis Qeed of Trust as a mortgage,appoint a receiver,or speaflcalty enforce any of the
<br /> covanants hereol. • '""*"`
<br /> !�o remedy hereln conferred upon or reserved to Trustea or Lender is intended to be exGusive of any other remedy herein,in the Loan
<br /> In the Loan InsWments or ow or herea,fter�exlsting at law or n equuly or by statute,ia d m�ay be exercised concurtently,independenUy . , _
<br />. . or succesivety. • ---
<br /> 13.Truatee.The Trustee may resign at any time without cause,and Lender m�y at any time and without cause appoint a su�
<br /> � cessor or substltute Tnistee.Trustee shall not be tfabla to any paRy,InGuding wlthout IimitaUon Lender,Borrower,7rustor or any pur
<br /> • � chaser ot the Property,for eny loss or damage untess due to recktess or willful misconduct,and shall not 6e requlred to Nake any action --
<br /> in connedion vrith the entoroement of this need oi Trust untess indomnified,in wriUng,for atl costs.�m udicia�or undepthe power�of j ' � �
<br />. � ma y be associated therewilh. Inrae da�19�i ar I oteany portion ot the Pr pe r t y r,as Provl d e d b y l a w:or�se I tha Pro p e r t y as a whole,or in ' �
<br /> sale granied hsrsln):Po�..-- . '" ..
<br /> • separate parcets or lots at Trustee's discreUon. •
<br /> 14.Fees and Expensea.In the event Trustee se11s the Properly by exercise of power oi sate,Trustee shall be enGUed to apply '
<br /> � any sate prooeeds first to payment ot all costs and expenses of exercising power ot sale,including atl Trustee's fees,and Lender's and .
<br /> Trustee's attomeys fees, actually incurred to extent parmitted by applica�te law.fn the event Borrower or Tn�stor oxercises any right
<br /> provided by law to cure an Event oi Default,Lender shall be entitlad to recaver from Trustor aIl costs and expensas actualty incurted as �.
<br />�-"--- a result of Trostors defaui�induding wiu'�out 8mitatlart.^.!!Tssss!es's and�ttbn+e�s teas.to the extent pertnitted by appliqble law. _� __ '
<br /> 15. Future Advanco�-Upon request of Borrower. Lendet may, at its option,make addiiional and tuture advances and read- .
<br /> �
<br /> ' vances to Borrower.Such advances and readvances,vrith interest tl�ereon,shall be secured by thos Deed oi Trust.At no time shafl the —
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