201�0906�
<br />premises and Property in fee simple, that the same are free from
<br />all liens and encumbrances except as may otherwise be specifically
<br />noted herein or waived in writing by the Beneficiary; that Trustor
<br />will execute or procure any further necessary assurances of title
<br />and does hereby warrant generally the title to said Property and
<br />will forever defend the same against the claims and demands of a11
<br />persons whomsoever, and that Trustor's separate estate, whether
<br />vested, contingent or in expectancy, is hereby conveyed and Trustor
<br />does hereby expressly waive, release all rights and benefits of any
<br />homestead, dower, curtesy, appraisement, exemption and stay laws of
<br />this state. It is agreed that the interest provided for in
<br />subsection (g) above shall be at the same rate as specified in the
<br />Note secured hereby on the principal thereof after defau�t and
<br />maturity.
<br />SECOND In the event Trustor, without the prior written
<br />consent of Beneficiary, shall sell, transfer or convey or contract
<br />to sell, transfer or convey the Property, or any part thereof or
<br />any interest therein, the entire balance of the indebtedness hereby
<br />secured shall become and be immediately due and payable at the
<br />option of Beneficiary; provided, however, Beneficiary may waive
<br />such option to accelerate if, prior to such sale, transfer or
<br />conveyance or con�ract therefor, Beneficiary and the person to whom
<br />the property is to be sold or transferred reach an agreement in
<br />writing that the credit of such person is satisfactory to Benefi-
<br />ciary and that the interest pa�table on the sums secured by this
<br />Deed of Trust shall be at such rate as Beneficiary shall request.
<br />THIRD. That as further security for the payment of the Note
<br />and the indebtedness thereby evidenced and the performance of all
<br />of the terms, covenants and conditions hereof, Trustor agrees that
<br />Beneficiary shall and does hereby have the right, power and
<br />autho�ity during the continuance of this Deed of Trust to collect
<br />the rents, issues and profits of the Propert�r and of any personal
<br />property located thereon with or without taking possession of the
<br />property affected thereby; and Trustor hereby absolutely and
<br />unconditionally assigns all such rents, issues and profits to
<br />Beneficiary. Beneficiary, however, hereby consents to Trustor's
<br />collection and retention of such rents, issues and profits as they
<br />accrue and become payable so long as Trustor is not at such time in.
<br />default with respect to payment of any indebtedness secured hereby
<br />or in the performance of any agreement hereunder. Upon any such
<br />default, Beneficiary may at any time, either in person, by agent,
<br />or by receiver to be appointed by a court, without notice and
<br />without regard to the adequacy of any security for the indebtedness
<br />hereby secured (a) enter upon and take possession of the Property
<br />or any part thereof and in its own name sue for or otherwise
<br />collect such rents, issues and profits, including those past due
<br />and unpaid, and apply the same, less costs and expenses of
<br />operation and collection, including reasonable attorney's fees,
<br />upon any indebtedness secured hereby and in such order as Benefi-
<br />ciary may determine; (b) lease the same or any part thereof for
<br />such rental, term and upon such conditions as Beneficiary's
<br />judgment may dictate or termina�e or adjust the terms and condi-
<br />tions of any existing lease or leases. Unless Trustor and
<br />Beneficiary agree otherwise in writing, any application of rents,
<br />issues or profits to any indebtedness secured hereby shall not
<br />extend or postpone the due date of the installment payments as
<br />provided in the Note or change the amount of such installments.
<br />The entering upon and taking possession of the Property, the
<br />collection of such rents, issues and profits, and the application
<br />thereof as aforesaid, shall not waive or cure any default or notice
<br />of default hereunder, or invalidate any act done pursuant to such
<br />notice. T�ustor assigns to Beneficiary, as further security for
<br />the performance of the indebted.ness and obligations secured hereby,
<br />all prepaid rents and all moneys which may have been or may
<br />hereafter be deposited with Trustor by any lessee of the Property,
<br />to secure the payment of any rent or damages, and upon default in
<br />the performance of any of the provisions hereof, Trustor agrees to
<br />deliver such rents and deposits to Beneficiary. Delivery of
<br />written notice of Ben.eficiary's exercise of the rights granted by
<br />this parag�aph THIRD to any tenant occupying the Property or any
<br />
|