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<br /> � • , . `� - t 9�•° ��ik��..��e `_' �
<br />- ' ' rovided that such personai propercY is reP�with other pecsonal praPecf}' a� eW� �� . '
<br /> . . � or obsolete. P ude reteanon device, secwitY ag�� or other encumbrance. Such ; ,`.. ..i.,. `.`,.
<br /> reQlaced personal pmpei►Y. free from any �ateresc created by this De�d of Tnist.Trustor sflall
<br /> ' � replacement of personal pmperty wili be deemed subjea to the sec.vriry� or BeneficiarY's agents ,
<br /> not gartition or su6divide the PropertY without Beneficiary's prior written wnsent. Benefic�g�e�openy;�Y �;"` `
<br /> . '' may,at BeneficiarY'S a�ion, eater the ProPertp at anY reasonable sime for the purpose of insP
<br /> - -_� shalt tse �sely for E3enefrciary's benefit and Tr�stor will in no way rely on Benefcc�ary'S _ -
<br /> '- � . inspecuoa of The Fmperty —
<br /> inspecuon. �
<br /> --.=T-�;-1-f� t�co erfonn aug�f Tr�ssar's sluties e�-nder this Deed of Trust.or an�other _
<br /> 13.AUTHORI'�Y TO����'�T�O t or other lien docusnent that has prioritY over tlsis Deed of Tmst, Ben c�a�Y ,, �
<br /> mortgage,deed of uust. securitY��� mts Beneficiary as attomey ia fact to
<br /> . �,� -".�� may.without notice,Pe►�orm t6e duties or cause them to be perfoimed. TTUSwr appo �s d�soonrinwed or ,_
<br /> � � � sign Tnutor's name or PaY anY��n�� for performance.If�y consuucuon on the PmpertY s Securiry�terest
<br /> ' � not carried oa in a�nable manner,Benefrciarp maY do wbateeer is nece.ssar�+co Protect Beneftciary' r6.��:"'
<br /> , in the Property-Th�s maY include completing the constr�ction. : .Y:':,
<br /> � � � on w P�rm,and Beeneficiary's failure to perfoTm � - �.,�; °
<br /> ' � BeneSciary's right to perform for Tmstor shall not create an obligati .
<br /> will not preclude BeneBciary from execcisinS anY of Benefiaary's other righu under the law o�B D�T s��Y �
<br /> amounts paid by BenefeciarY for insuring, p�es�8 or otherarise protecung the Praperty - ` .
<br /> interest will be due on demand and will bear interest from the date of the paY�t until paid in tuU at the interesc rate in „.'.`;;` �, .;: '
<br /> � � � effect from time to time acco r d i n g t o t h e t e m�s o f t h e E v i d e n o e of Debt. .� -;:'•
<br /> � E..
<br /> � ' Truscor irrevocably grants.conveys and sells as additional securitY sit the _. _�„�--.
<br /> • 14.A3SdGNMENI'OF LEASES AND RENTS• . _ . , .
<br /> . . � - right,ade and interest ia and w anY and all: �and any other written or verbal agreemcnis for the use and ----
<br /> ' A. Existing or future leases,sableases,licenses,Suaran eXtensioas, renewals. modifications or substituuons of _ 4 -
<br /> � � � � o�P�Y of any portion of the PropercY, includiag anY �_
<br /> � such agreements($11 referred w as"Leases")• osits.min�awm�ent. � '
<br /> rent
<br /> ' � B. Reats,issaes a n d p r o fi t s(a ll r e f e n e d w a s"Rents"),includinS�g t'1��c d�a�r S�d� e s t a t e t a x e s, other _ . ��_�__.
<br /> • ., - percentage rent, additional rent, common area maintenance �following default, cancellation plemiums, .- .,;`;". r-_.�,.
<br /> • . � applicable taxes, insurance Premium cantributians, liquidaud damag =_ _
<br />,%. "loss of rents"insurance.revenues,royalties,Proceeds,boauses,aad all rights and claims which Tmscor may have � t=�
<br /> �r that in any way pertains to or is on accaunt of the use or oca�ancY of the who2e or any part of thc PropenY• --- -_
<br /> � �x��
<br /> ' . , ...� Tn�stor w�l pmmptly pzovide Beneficiary with trae and cornct copies of all e�isting and future I.c�ses. Tmstor maY —,-
<br />� colleci,receive,enjoy and use the Reats so long as Tmstor is not in S ef���eII�pon default,'Tn�stor w�11 receive , •.,'��
<br /> . � ` dus in future teasc penods, unless Tmstor first obtains BenefcciarY' �;.• . '_:-�-:.
<br /> • • � • any Rents in uust for Beneficiaty and Trastor wiU not commin8le the Reats with aay other fimds.An3►auaounts collecoed _
<br /> _' ' sha11 be apPlied ai BeneficiarY's discretioa to payments on the Secured Debt as therein provided,w costs of ma�Sing the " .r`� 1 ----
<br /> . � Property. iuc lu d i n g, b u t n o t l i m i t e d t o, a l l ���u�Benefi�a�ry'�s a t t or r�ne}�is�'�f e�.P a r a l g a l e e s a a d�c a u rt o osts� � . ' . __
<br /> ` . agents,an d to a n y o t h e r n e c e s s a r Y r e l a t e d e x p .. .� _
<br /> .. �-,.-
<br /> . . ' t is erf�u on the recording of this Deed of Trust and thai Beneficiary is .. ..
<br /> , . . Trustor acknowledges that titis assignmen P Pe� of rents due or to became due w Beneficiary. Hoaever, ' ;�'
<br /> � .� entided to notify any of Tn�stor s cenanu to make paYm
<br /> � � BeneSciary agreas that only on default arill One r�,v ug t�he notice ofddefault rTrustor will endo�se and d liver to '.. � �a
<br /> ` . � future Rents be aa�d�d'�u��iRent in Tn�stoar�'s Possession. ;=-
<br /> Beneficiary anY P Ym :'.
<br /> � � � licable landlord law.Trustor also covenants and agrees �� ':,;�
<br /> � ' ' Trustor covenants that no default exists vnder the Leases or any app� . . . .
<br /> ..:�: � to maintain, and to require the tenan Tn�sto nely��ortrefuses o enforceycompliauce with t6e ternis of the�Le ye,9,then :, ':� -.
<br /> Beneficiary of any noncomPliance.If S�
<br /> . Beneficiary may, at BeueficiarY's option. enforce compliance. Trustor will obtain Beneficiary's written authorization _ . -
<br />_. � . .. � . before Tnutor cons e n t s t o s u b let,modi f y.cancel u ie� or o assign.compmnrise or e�n w m b e r t h e Leases otr any�futur� '�. 3
<br /> • covered hy such Leases(unless the Leases so req ) � .
<br /> ' Rents. Trustor will hold Beneficiary h�� �d��� B�eficiary for any and all liability, loss or damage th : : :
<br /> �" . . Beneficiary maY incur as a consequence of the assignment under this section. . . •
<br /> � PLANNED UNIT DEVELOPMEENTS. lf the Property includes a unit in a eondominium or a . _
<br /> ' 15.CONDOMIIVIUMS+ pM � ,
<br /> planned unit develapmeat,Trustor a+ill perform all of Trustor's duties under the covenants.by-1aws, or regulations of the ,., �°
<br /> .. , condominium or Planned unit development.
<br /> " 16.DEFAULT.Tnistor will be in default if any of the following occur�t When due; � •
<br /> � . � A. Any pariy obli�ated on the Secuted Debt fails to make paym ri�r mortgage or any construction loan agreement. .
<br /> � � B. A breach of any term or covenant in this Dcec1 of Tmst,any p, . , ,
<br /> . ` secvriry agreement or any other dacument evidencing, guazantymg,securing or otherv�ise selating to the Ser.vred
<br /> . • ' Debt: that is false
<br /> � C. The making or furnishing of any verbal or written representation,statement or wartanty to Beneftciary
<br /> or incotte�t in anl mane aal resPm bY f a Sie�i��.eivernf pe or appl9cation of��any�debtore eli�ef law to 1 Trustor or any :
<br /> _ . � � D. The dcath, d�sso PP ,
<br /> person or entity obligatcd on the Secured Debt:
<br /> : . ' � bigatecl on the Secured Dcbt or t�hat the�prospect oftanY Paymc�nt is impa�'�red orl he P operty is impaired�or entity .
<br /> F. A materi�]adverse change in Trustor's business including ownership�i�a�ment of the Securced Debtlor ns.which
<br /> ' •� Beneficiary in its opinion believes impairs the value of the Property �P Y
<br /> • , , C,, pny Ioan procceds are used far a purpose that will contribute to excessive erosion of highly crodible land or to tite
<br /> � ' conversion of wetlands to praducc:an agricultural commodity.as further explained in 7 C.F.R.Part 1940,Subpart
<br /> • ` � ; G.6xhibit M.
<br /> � , ' 17.REMEDI�S ON �oFureLmul ation notice�or other notice.s and m Y e.ttablish�i me schedn estforforeclo u es ctions. �
<br /> . �, natice of F� accelerate the Secuted Debt and foreclose this Deed of Trust in a �
<br /> 5ubi�� ro these limitatiAns, if anY• B��tt���' �y ; •
<br /> ' ' manner provided by Ittw ii ihis Trustor is in default. .
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<br /> . �. � " , e 1933 Da��ce�Svstm••�.�nr.St Cbvn.��N�+f%�O 397 131t� vnrm aG-CO Di tiF tp'3V�5 7
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