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<br /> -proceeds��n conneciion with condem�ation or otner taking of ttie Property or paR thereot.or for conveyance in tieu of condemna6on. . . � • ` ��
<br /> Lender shall be e�titled at its option to commence,appear in and prosecute in its own name any action or proceedings,and shall also `,,
<br /> . be enGtled W make any comprnmise or settlsment m connection�rith such taking or damage.In the event any port+on of the Proparry is , ,.- -
<br /> �r =
<br /> so take�or damaged, Lender shall have the option in its sote and absolute discretlan, to appty atl such proceeds, after deducting
<br /> cherefrom all costs and expenses incurred by it in connecUon with such Proceeds,upon any indebtedness secured hereby and in such r�,�
<br /> order as Lendar may determine.or to apply atl such Proceeds,after such deducGOns,to the restoration of the Property upnn sur.h oon- • ..
<br /> diGOns as Lendar may detesmine.Any apptication of Pmoeeds to indebtedness shall not extend or postpone the due daEe of any pay- � , _
<br /> � ments under the Note,or cure any default thefeunder or hereunder.Any una�plied funds shall be paid to Trustar. . .
<br /> 8. Perfom►anea by lenBar. Upon the occurrence of an Event of Default hereunder,or if any act is taken or legal proceeding , _-
<br /> commenced which materially aHects Lenders interest in the Properry.Lender may in its own disCretion,but without obligation to do so. �.,.�-
<br />. � and without notice to or damand upon Trustor and without releasing Trustor from any obligation,do any act which Trustor has agreed
<br /> but faited to do and may atso do any other act it desms rtecessary to protect the securiry hereof. Trustor shall, immediatety upon `. ,�
<br /> demand tl�erefor by Lender,pay to Lender aN cos4s and axpenses incurred and sums exAended 6y Lender in connection with the exer- _ c � __� _
<br /> . cise by Lender of the foregoing rights,tagether with interest thereon at the default rate provided in the Nate,which shall ba added to . , ` __
<br /> � the indebtedness s�red hereby.Lender sha11 not incur any Gability bequse of anything it may do or omit to do hareunder. ,
<br /> 9.Hazardous Materiala Trustor shall keop the ProPeRY in compliance wiU�aU applicable laws,ord'mances and regulaGons
<br /> � relating to industria!hygiene or environmental proteGion(cotlecHvely referred to herein as'EnvironmenffiI Laws�.Trustor shall keep _ _
<br /> �he property free trom all substances daemed to be hazardous or toxlc under any Environmental Laws(cottectivety referred to herein :_ . � _ _
<br /> as'Hazardous Materiafs').Trustnr hereby warrants and represents to Lender that there are no Harardous MateriaLs on or under the . ` �„-
<br /> •.Y_�Y:_
<br /> Property.Trustor hereby agrees to indemnify and hold hartnless Lender,iLS directors.officers.employees and agents,and any suCces- , - ,�--
<br /> sors to Lenders interes�from and against any and all ciaims.damages,losses and liabili6es arising in connection with the Presence• . _
<br /> ` �e,aESENTAT ONSaAND TRUSTOR'S OBUGAT�ONS PURSUANT�TO�HE FOREGOINGOI D MN1T1f, SHA�LL SURVIVE � ' _ -�?� y��A�
<br /> .� REPR . "�"'"
<br /> RECONVEYAIVCE OF THIS DEEO OF TRUST. r' `'`
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<br /> 10.AsstgnmeM o!Rents.Trustor hereby assigns to Lender,and grants Lender a security interest in,all present,future and .,�.�„
<br /> ` ; after arising rents,issuss and profits of the PropeRy:provided that Yrustor shall,un61 tlie accurtence of an Event of Oefault,hereunder, ,•�i��,�� .
<br /> , ^ have the right to collect and retaln such rents,lssuas and profits as thay become due and payabte.Upon the occurrenoe of an Event of . ;,�. . ___
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<br />, �� Qefauit,Lender may,either in person or by age��with or without bringiag any action or proceed:s:g,or by a reoeiver appoinfed by a ,�;t . �.
<br /> � cuurt and without regard to the adequacy of its sewrity,enter upon and take possesslon of the Property.or any part thereof,in its own _ y n:�`
<br /> name or in the name of the Tnisfea,and do any acts which it deems necessary or desirable to presenre the va�ue,marketabifity or • , :.. .�� _...
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<br /> ``� rentability of the PropeAy,or any paR thereof or Interest therein,or to increase the Income therefrom or protect the security hereof anQ .
<br /> � w(th or without taking possession of the Properly,sue for or otherwiss collect the rents,issues and profits thereof.inGuding those past :_:�;` �
<br /> due and unpaid,by notifying tenants to make payments to Lender.Lender may apply rer�ts,issues and profits,tess costs and expens- ;,„��'� ,�.�;. 4. _
<br /> � es of operatlon and collection inGuding atton�ey's fees.to any indebtedness secured hereby,all in such order as Lender may deter- ,t, �:
<br /> mine. The entering upon and taking possession of tha Property,tha collection of such rents, issues and proflts,and the app1iqUon _ : ,.�
<br /> � thereof as aforesatd shatl not cure or waive any default or notice of defautt hereunder or invalidate any act done in response to such ;� �
<br /> defautt or pursuant to such notice of default and, notwithstanding the conUnuance in possess ion o f t he prope rt y or the collection, �'�. .
<br />• receipt and applicaUon of rents,issues or crofits,Tn�stee and Lender shall be entiUed to exerdse every right provided for in any of the ,: .;;�•_ ; ; ,
<br /> � Loan Instrumenis or by law upon occurren�ot any Event of Defautt,Including witt►out IimitaHon GT:a right to exercise the power of sale. _.�;��� • '��,i ��
<br /> • FuRher,Lende�s rights and remedies cn�ar this paragraph shall be cumulative wiih,and in no�+�ay a IimitaUon on,Lenders�aghts and � �:
<br /> remedies under any assignment of leasas and rents recarded against the PropeRy.Lender,Trustee and the receiver shall be i3ble to . ,' �
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<br /> account only for those rer.�actually received. _'� kt :� � .
<br /> 11.Evenffi of OefaulL The fallowing shall constitute an Event of Dsfault under this Deed of Trust ��,"�:Y
<br /> ` -. n ins[atls^ent of dncipal or interest or a1y other sum secured here�y when due; �;�
<br /> (a}FaDure to pay a y p
<br /> • (b)A breach of or default under any provision contained in the Note,this Deed of 7rust.any of the Loan lnstrumen�.or any � .,.,� � � , ,4 ,:
<br /> other lien or encumbrance upon the Pmperiy;
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<br /> �r (c)A writ of executlon or attachment ar any similar process shall be entered against Trustor which shall become a lien on ,"�:�:�--
<br /> the Property or any poNon thereof or interest therein; , -`----,
<br /> (d)There shall be filed by c:a3ainst Tnjstor or Borrower an actlon under any present or future federal.state or other statute, r ` � �_ �_. - �_
<br /> law ot regutatlon re►aUng to b2:a?�.:�tcy,tnsctvenc.y or otfier�eliei for debtors;or there shall be appointed any trustee,receiver or .� �.�.
<br /> Ilquidator of Trustor or BoROKes or of all or any paR of the Property,or the rents,issues er��afits thereol,or Trustor or Borrawer �T
<br />' shall make any general assignment for the benefit of creditors; � , , _
<br /> ' (e)The sate.�ansfer, lease,assignment,corneyance or turther encu:r.brance of all or any part oi or any interest in the - , � _
<br /> � ; � property,either valuntadly or lnvoluntarity,wlthout the express wr(tten cons�nt o1 Lender,provlded that Trustor shall be permit- '�
<br /> ted to execute a tease of the Property that does not contain an oryUon to pirchase and th�teTm of whlch does not ezaeed one ���_: —
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<br /> s��'s — .
<br /> ., year, --- '
<br /> .. (�Abandonment of the Properry:or �����a��-��
<br /> (g)If Trustor is not an indivldual,the issuance,sale,transfer,assignment,convayance or encumbrance of more than(H a • �.�, ••:,���
<br /> ' corporaUon)a totai oi percent of iis issued and outsfanding stock,or(ii a partnership)a total oi per- ,.���.R �
<br /> cent of partna►shlp interests,or(if a limite�liabllity campany)a total of percent oi the IimRed tlabitity compa- :r•w;-.;�:�..,,E.,"�`� _
<br /> n�c e'srests or voUng rights dudng the period this Dee d o f Trus t rema ins a U e n o n N e p r a a�r t y .• .;.��- :�•. • �
<br /> 12.Remedies;/►eeeteraiton Upon Dehu14.In the event oi any Event ef Default Lend�r may,wlthout noUce excepi w requtred '.�.;;�:.�'.,:,.•r:�
<br /> _..:,r� _.�,.:,��. ,.
<br /> .. by taw,dectare all indebiedness secured hereby to be due and payable and the same shatl Lhe;eupon become due and pa�le with- ..=, �..�.-..
<br /> � out any presentment,demand,protest or noUce oi any kind.Thereafter Lender rt�ay: ; .
<br /> (a)Demand C�at Trustee exerclse fhe POWER OF SALE granted he�:�,and Trustee shall thereafter cause Trustors inter- ., �:�
<br /> e�b Exe�se an�and all�d hts provid�ed�forroin any oft sL oan Instruments or�by eaw uponvoccurcence ofanydE en�t of � � �
<br /> O Y 9 _ _ .
<br /> DefaulY,and �' ' • �
<br /> (c)Commence an actian to foreclose thls Deed oi Trust as a mortgage,appolnt a receiver,or speciflcally enforce any oi ihe . _
<br /> ' covenants hereoi.
<br /> No remedy hereln conferred upon or reserved to TNStea or Lender is Intended to be axdusive of any other remedy herefn,in the Loan . .
<br /> in the Loan InsWm nts or oow or he after�exlsUnB at law'or n equlry or by atatute,la d may be exereised concu�yrvindependenty .. . � �
<br /> i
<br /> Of SlIfxBS�Y@Ijl. ' �
<br /> _ 13.Tntstea.The Trustee may resign at any time without cause,and Lender may at any Ume and without cause appoint a sua .
<br /> cessor or substltute Trustee.Trustee shaN not be tiable w any party,Including wlthout limltatton Lender.Bmrowar,Trustor or any pur- ,
<br /> chaser of the Property,tor any loss or damage untess due to reckless or willtul misoonducl,and shatl not be required to take any actlon ,
<br /> in connection with the enforcement of this Deed oi Trust unless indemnifled,in writing,for alt costs,compensatlon or expenses which , ,..�
<br /> ' may be associated therew3th.In addiUon,Trustee may become a purchaser et any sale of the Property(judicial or under the power oi
<br /> sate granted herefn);postpons the sale ot all or any portion oi the Property,as provlded by law:or sell the Property as a whole,or in
<br /> separate parcets or lots at Trustee's disueUon. _ _
<br /> 1 14.Feas and Expenssa.In the event Trustee seQs the Property by exerGSe of powdr of sala,Trustaa shalf ta enUL'��ta aFr�
<br /> any sate proceeds first to payment oi a11 costs ar�expenses oi exerclsing power of sale,Including all Trustee's fees,and Lender's and �,�.
<br /> Trustee's attamey's tees, actually incurred to extent pertnitted by appllcable law.In the event Borrowar or Trustor exercises any right
<br /> provided by law to cure an Event of Default,Lender shall be enUtled to recover from Trustor all costs and expenses actually incuRed as ��
<br /> � a result of Trustors delault,inCluding without IimiteUon oU Trustee's and attomey's fees,to the extent pertnitted by apptlpble law.
<br /> 15.Future Advanee�. Upon request o!Borrower.Lender may,at its option,make addltional and tuture advances and read- � • �--
<br /> � � vances to Borro�ver.Such advances ane reaavancos,vrifi interesi ii�ereun,51ai{be�etut�t!bY ttti.%089d ot Tn1st.At no Nme afiall the ____,____ -
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