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<br /> ' , d. To keEp thc improxements now or hereafter located on the pmpe�4y insured agunst dasnage by fire and such oiher ha7ards as ��� • �
<br /> the Beneflciacy may require.w amewus and eomPances acaeptable to the Beneficiary•,Such uisvranoe poliry shall contain a standard �
<br />� ` � mortgagc clanse in favor af Benefic�ary. Tnsstor shall promPtty cepair. maintain and replaoe the property or any part thereof. so �r �, ' .-�
<br /> �> that,except for ordu�ary�wear and tear.the property shall not deteaorate , '. • �� :��-
<br /> j S. in the evem the properiy. or any part tbereof. shall be taken by euunent domau� the Benefiaary�es enlitled to oollect and � � • -
<br /> ; recen•e all oompQnsauon nhich may bc paid for a�•psopett}�talcen or for damages to property not takea and the Benefcciary shall � ; . �
<br /> , � apply such oom�easation.at its option,either co a mduction of the indebtedness scxvred hereby.or to repair and restore the pmperty - _
<br /> ;� so takea �
<br />: � 6. Ttte Beneficiary may. but s6all have no obligation ta, do a� aa wtuch Tn�stors have agreed bui failed to do. and the
<br /> Beneficiary may also do any aa it deems necessarv to pmtect the lien hereof. Tmstors agree to repay.upon demand.any sums so � ,
<br /> t expended by the Beneficisry for the above purposes,aud any s�un so expended shall be added to the indebtedness secured he�etsy and �
<br /> `I beoome secuned by the lien hereof. The Beneficiary shatt no incur any liability 6ecausc of anyttung it �nay do or omii to do - _ _ :'•�,
<br /> f hereunder. ,
<br /> 7. 'I'he geneficiary shall have the right,power and authority dwing t6e oontinuance of this Deed of Tmst to collett the rents, . . .
<br /> ` � issues and profits of the property and of any petsonal pmpeny located theteon n�ith or without talang possesaon of the pmperty � . ' • . .
<br /> j affccted hereby,and Tiustois hereby absolutely and uaconditionaliy assign all such rents,issues and profits to the beneficiary. The . . .
<br /> _ beneficiaty.however.he�eby oonseats to Tmstors'colleqion and retention of sur.ti rents.iss�es and profits. so long as T�usto�s are . . .
<br /> nat,at snch ti�e,in defanit with respect co payment af an}indebtedness secured hemby,or in the perfonnanoe of any agceement .
<br /> hereunder. If any event of defanit descnbed hereafter in respect to this Qeed of Tn�t shall have occurred and be oontinuing.the , •
<br /> . Beneficiaty,as a mattet of right and without notice to Ttustors or ai►yrone claiming under Tn�stors,and without regard w the value of ' •.;,� �' "
<br /> the bust estate or the interest of the Tnuto:s themin. shall 6ave the nght to apply to any court having jurisdiction to appoint a f • �,
<br /> � reoeiver of the property. - . . � . -
<br /> 8. The Beneficiary,or its agents, are auihorized to entcr at any reasonable time upon or in any part of the pmperiy for the , ,
<br /> ,'� garpose af inspeaing the same and for the purpose of perfonning any of the acts they are authorized to perform under tlte terais of � .,•-;� ' ,:�_
<br /> �� aay loan insp�uments executed by Tnutors- ,�, �<-�
<br /> * 9. if all or auy part of the pmperty or azry interest of Tinsto:s�s sold transferred or further enc�mtiered rovithout the svritten ; _-�����,
<br /> � wnsent of the Ben e fi c i a ry.the Beneficiary u�ay declare all sums secured by this Trust Deed to be immediatety due a�ad payable and -�``;
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<br /> praceed to the remedies availabte ta it under the default provis'sons contained hetein. .
<br /> 30. Asy of the fol�owing events sha11 be deemed an event of default heicunder: "` -
<br /> - a. Trustors shall have fail,�d to make payment of airy installment of principal or interest or aay other sums secured herehy when F � - �
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<br /> ` � b. There t�as occum� a breach of or defanit under any term, covenant, agceement, coaditioa provision, ��sentation or " :, . � '�
<br /> warianty oontaiued in this Dexd of Tznst,the note or any other loan instrument secured hereby; ��°� ��` :��
<br /> c. Ttiere has been a defanit try We Tmstors in the payment of any prior or subsequent Gen or encumbrance in respect to all or amr .�� ��'• z " ;�; ;:' �
<br /> . pait of the PrapertY: , _';. �
<br /> • d. Tnutols shall fde a voluntary petition in bankcuptcy or shall be adjudicated banlaupt or insalveut, or sl�all make an . ?i�; • �.�1;'':�"
<br /> assignment for the benefit ef creditois in re�ect to the property:or an action to enforce any lien or encumbranoe or judgments i, ' ,�j•: :
<br /> agaiast the pruperiy is com�enced '�� .
<br /> 1L In the event of a�r dcfanit,ihe Beneficiary may declare al1 indebtcdnes.s secured hereby to be dne and payabte and the same { .�.�
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<br /> � shal]thereupoa beoome due and payable without airy presenunen�demand.Protest ar notice of a�r kind. Thereafter.the Beneficiaiy : ....
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<br /> ..s a. either in peisan o�{ry agent, wiW or without bringing any action or pmceeding, or by receiver appointed(ay a oourt and •� °"5�
<br /> � withoat regaid to the adeqvary of azry sewsiry.enter upon and take possession of the pmperty,or anyr p�t t�c�a�in its own ...�..�• .�„„g�_`
<br /> name or in the name of the TraStee, acid do airy aas w h ic h it deems necessary a n d d e s�a b le to preseive t h e v a t u e. �=. �"�
<br /> a �
<br /> . marketabitiry or remability of We progeny,or part thereof,or inter�st sherein,iacrease the inoome there&om or pmtect the �.��'���
<br /> � seauity he�of and,without taIdng possession of the propezty,sae for or othenvise ooltect the rents,iss�ues and profits thereo� ��� ���`
<br /> � inclnding ttwse past due and unpaid. and apply the same, less costs and expenses of opeiation aad wIIest.ten, inclnding �,��Y��
<br /> ! attomc.y fees,upon a�+iudebtednea s�c,vned herebY.all in such order as the Heneficiary may determine. '[gte entering upon .�;�`_°.�`••'
<br /> � and taking goss�sion of the trust estate,the colleaion of such rents,issues and profits and application thereof as aforesaid �: �''�-���
<br /> �'`• shall not ca�r,,or waive atry defanit or notice of defatlt hereunder or imralidate any act and in tesponse to such default or `•:_„�_..y__--• —'=--
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<br /> :,} pursuant to s�ch notice of default and notwithstanding the oontinuarcce in possession of the pro�erty or the coltectioa reoeipt
<br /> and application of rents,issues or pro5ts,Tmstee or t he Bene ficiaryr may b e enti t l e d to exercise every ri g h t p r o v i d e�d f o r i n a i ry � ��=`�r
<br /> ''� af the loan instruments or by law upon occurrence of asy event of default,includin$the right to exercise the power of sale: ,,�.,��. _;; : .
<br /> b. commence an action to foreclose this Deed of Tmst as a moAgage, appoint a receiver, or s�ecificalty enfflioe airy of the , :
<br /> oavenants hereof; • . ',..•,�:,`;
<br /> c. deliver to Tn�stee a written declaratio�of default and demand for s�e,and written notice af�:nit and eleaion to rause �,��:
<br /> Trastors'interest in the gzoperty to be sold.which notice Trustee shall cause to be duty filed for rocard in the e�cial records
<br /> of the counry in which t�e property is lacated. i�:� �
<br /> ,.) 1Z. Should 4he Beneficiary e1�t to forectose by exercise of the power of sale herein oontaiacd,the Beneficiary shall notify Tnrstce • • . ,
<br /> _� and shall deposit with Tnutee ttds Deed of Tsst and the note and such rceipts and evidenoe of expenditures made and secun�d � _
<br /> hereby as Tnrstee may require,and upon requ�a of the Benefrciary.the Tnastee shall cause to be ceoorG:ed.published and delivered
<br /> to Tmstor such Notice of Default aad Notice of Sale as then required by taw and try Wis Deed of Tn�s3.Tmstec shall without demand •
<br /> a�Tn�stor,after such time as may then be required by law and after recordation of such I�Iotice of Default and after Notice of Sale .
<br /> ha�nng been given as required iry taw.sell the pmperty at ti:e dme and place of sale 6x.Qd lry�t in such Notice�€g:�e,either as a
<br /> whole. or in separate lou or parcels or items as Tn�stee sl�all deem expedient,and in such order as i� may detennine, at publlc
<br /> auction to the vighest bidder for cash and shall deliver to such purchaser or purchaseis thereof a daed c�the property sold,consistent . � �
<br /> with the iaw then in effect. Recitals in the Trustee's deed shall be prima facie evidence of the wth of the statemenis made therein =
<br /> Tn�stes�hall appty ihe pmoeeds of thc sate in the follawing order:(a)to all rpsonable oasts and expenses of the sale,inclnding but
<br /> not limited to Tnutee's fees of rtoi more than 2%of the gross salc price.reasonable attorney fces and oosts of title evideace;(b)to all °
<br /> � sums s�ured tyy this Deed of Tn�st: and (c)the exoess. if any. to the person or persons legally entitled thereto. Any person. . � -
<br /> including the Beneficiary.may pwchase said propeAy at said sale. Tn�stee may in the manner provided by law.postpone sale of all
<br /> 1 or any portion oithe property. � . : :.._ , . -
<br /> � ; l3. Tmstee and the Beaefic�ary.and each of them.shall be entitled to enforoe payment and performance of any uidebtedness or
<br /> i obligation secumd hereby and to exercise all rights and po�cers under this Deed of Trust or under any loan insZS�ment or other —
<br /> agreement or any taws nor on c�reafter enforced noi�vithstandmg some or all of thc mdebtedness and obligations secured hereby � . _
<br /> � whtch may nn�v ar hereaiter be othen�yse secured. �vhether by mortgage. dced of tn�st. pledge, lien. ass�gnment or othenvise. � ; __
<br /> � Neither the acceptance of ilus Dced of Tmst nor us enforeemen�whether by court awon or pursuant to the power of sale or other ( -:��� •
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