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<br /> � ' or obsolae,providrd that such personal property is replaced with other personal propecty at least equsl in valut co thc '. � � � - __
<br /> � re�l2ced pessonal property. fret fram any tide retention dtrice, secunry agreemznt or otba encvrnbrancc_ Suc� _
<br /> replacemeut of personal propetty will be deemed subject to the securiry iaterest created by this Deed of Trust.Trus[or shall � • �:�
<br /> � nat partition or suddivide tAc Property without Beasficiary's prior writteu cflusent. Benefieiary or Beneficiary's ageats . �
<br /> ' • may, at Bencficiary s option, enter th� Property az any ieasonable time for[tie purpose of ine�peccing t6e Prop�rcy. Any ' ti__
<br /> j inspection of the Property shall bt entirety for Benefiaary's beuefit and?n�scor wiU in no way rely an Benzficiary's �. . � �
<br /> + inspection. i � ' ,
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<br /> � ,' ]3.Ati'TSORI'i'Y'i'O PEi�FORM.Jf Truswr faiis to perform any of'fr�stor's duties uuder this Deed of Trusc,or any otfier i_.. �-`. _
<br /> � moctgage,dced of tr�st.security agreem�t or other lien dowmrnt that has priority ovar this Dad of Tnut. Ben°.ficisry { •
<br /> ; may.withaut notice.perform the dutfes or cause them[o be pecfomned.Ttustor appo�nts�enehciary as attomey in fact to � _ •
<br /> sign Tn�scor's name or pay any amoun3 necessary for performance.If any eonstn�ctios on tht Property is dissontinued or . . ,
<br /> not earrIed on in a reasonable manner. BeaeRciary may do whacevcr is necessary[o protect BeneIIciary's seturity incuest s . � ,
<br /> '� in tTse Properry_This may include oamploting�he constntction. , : .` -
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<br /> Beaeftciary's right to perform for Tn�stor shall ttot ereate an obligation[o perform, ana Ben�ciar}r's failure to perform , . -�
<br /> will aoc preclude Beneficiary ftom exerctsing any of Beneficiary's othtr rir�hts under the law or this Decd of Trust.Any ; . � . —
<br /> amounts paid by Bmeficiary for insuaing, gresecvIug or o[herwise protecting the Property and Hancficiary's security . —
<br /> - incecest will be due oa dentand and will bear iatezest from the dau of the payment unul paid�n full at the interwt rate in : ,:•�'�-
<br /> ' effect from dme to time according co[he terms of the Evideacc of Debc. • _ _ _-
<br /> � 14.ASSYGNIV�EN'P A&'LEASES AND RENTS.Tnutor irrevoeably grants. con�eys and sells as additiuna! sewdty all the , . ' , ,_ --
<br /> '-,,: •
<br /> right a4e aad intecesc ia and to aay and all: . . .. -_�
<br /> A. Exis[ing or futuie leases.subleases,licenses,g�aranacs and any other wriu�or verbal agreements for�he use nad . ` .. _
<br /> oecupancy of any portion of the Praperty. inelwlins any�ons. reaewals. mndiIIcaiians or substi[udons of . .•; _::;��`
<br /> such agreements(all czfemd to as°Leases')• minintum reat, , '�`. �
<br /> B. Rtncs. issues ead profits(all referred co as"Rcnu").tnctudiag but nat limiied to security deposits, �. ,.i ""�
<br /> ': , pe�entage rcnt, additionat rent, commoa area maintenanrx charges. parYing charges• real es� �"�• ottter � � �,�-_
<br /> applicable taxes,basuraace praniun►eonulbutions, liquidated damages foUowing detault,caacellauon premiams, �•" .
<br /> � "los9 of rents' insu=-aace,revenues,royalti�s.proceeds,boauses,and a11 rights and elaizns which 1Yustor may have „ ; +� '�
<br /> Qia�ir,any way periains eo or is oa aceount of the use or occupancy of the whole or aay part af thu Praperty. , '. �,� _
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<br /> �.� Tnuwr wii! pmmptly provide Hen�aary with uue and correct copies nf atl exiscing and fucure I.eases. Tnutor usay • .; � � , `
<br /> collea,reaive,enjoy and use the Renu so long as Tnutor is not in default.Tn�scar will no�rolleec ia advanee aay Reats � �;
<br /> � due in fucure lease pedods.unlrss Tr�swr ft�st o6tains gen�Fuia�y''s`urzaen c°ns`�c. Upon default,Tn�seor wiIl reeeive . ��'�� '.:�:!�f." '=
<br /> any Rencs in ause for BeneSciary and Truscor wiII nflc wmmingle zhe Reau aicb any othtlr funds. Any amounts coAeeced .' ,��. ;
<br /> shaU bc a lied at Benefuiary's discrecion to paym:,.nu on the Secured D�fit as therei�►provided,to rasts of mausglug the _ ._ , �.,f,,�� � _
<br /> Property.p�ipneluding. but not limited to. all iaxes, assessa�euu. insur'ance P r e m i u m s. r e P a u s• a n d c o m m i s s i o n s t o r e a t a l .
<br /> agents,and to sny oilier aecessary related expfsnses taeludia�Beaeticiary's ateorneys'fees.paralega!fers aud coua cos�s_ . �'. :: : �
<br /> - 7Yustor acicnowledges that this assignment is perfecaed upon cha recording of this Daed of 1i-ust and tltat Beneficiary is ,:��h�__._,� ' �^. "' -
<br /> ,�{, entitltd [o notiPy any of Truswi s�enants co make payment of rants due or to become due �o Beneficiary. However, , �� ,�,�
<br /> Beue�iciary agrees thac only on defaWt wlll Beneficiary nonfy 7'nutor and 7mstor's tCnams and make demand that aU �
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<br /> future Rmu be paid directty ca BeneRciary. On rec�ivm� [he nodce of default. 7nistor will entlorse and delivcr to :::^. �
<br /> Beneficiary any paymenu of Remt in Tnutor's possesaion. � - �• �.•'y�.
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<br /> Trustos covenants chat ro defaulc exists under the Lrases or aay applicablr laadlord law.Tnutor also wvenants and agrees • :��=s-
<br /> . to rr�intain, and to r�vir�e the tenants co comply with,the Leases and any app1iwb1e law. 7'nutor will promptly notify _- __
<br /> Benettciary of any nonwmplisnce.If'fYu�stor ncgtects ar refuses[o enfoice compliance with�he terms of�e Leascs.tl�ea '• ��=•+��.
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<br /> . BeneRcia�y may. at Beneficiary's option, enforces compliance. T:ustor will obtam Hta��ficiary's wdtcen authorization .
<br /> before Trustor consents w sublet, uuodify,caacel.or otherwise alter the L.�aus, to accepr the surrendcr of che Propeay - -. -; .�.��,,,@'..�-
<br /> covend b such Leases (unless the Leases so require), or w assign. compromise or encumber tt►o Leases oi any iLmre �**�;�.,•�.. —
<br /> ReAts. Trus[or will hold Btaeficiary hacmless an3 indemnify Bsaeftciary for any and all liability, loss or damage that ..;�.�'.�" �_-��`�'°
<br /> Benefteiary may incus zs a wnsequenu of the assi�nment under this section. ,� ` �'�"�"'—"—
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<br /> 13.CONDOMINNMS; PLANNED iJMT DEVELOPMENi'S. If the Property includes a unit in a oondominium or a • • ..,.',`,.:..
<br /> plannad un�e development.Tnutor wiA pe:rform all of Trustor's duties under the covenants,by1ews,or regulations of�he . . ,
<br /> candominium or planned unit development. ' . .. : : �`
<br /> � 16.DEFAULT.Tcuscor will be ia defaulc if any of the failowing occur: �
<br /> A. Any pany obtigated ou[he Secuted Debt fai;s co make payrnera when due; ,�. ��
<br /> ' H. A breach of any term or covenent in this Deed oY Tn�st,any pr}or mongagu or any coastruction loan a�reement, . . • —�
<br /> , security agre�rnene or any otH�r documeni evidencing, gw�nntytng,seeuring or o�henvlse relating to�he Secured � •'�'��-
<br /> � ` Drbc; � —-
<br /> �• C. 71ie nwiing or furnishing of any vecbal or written representation,staiement or warranty co Benefsciary that is false � �___
<br /> or 9neosrect in�:.y mattrial respect by Trustor or any person or entity obligaud on the Secured Debt; :
<br /> D. 7he death, dissolution. appe3ntmeac of a receira for, or applicaiion of any debtor rclief law co.7'rustor ur any . . �
<br /> person or entity obligated cr.c:5e Secured Debt; ' � _
<br /> : E. A �ood faith belief by 8eneficiary at any time that Bc�eficiary is insCC:nre witb respr�:t to any person or entlry . .
<br /> ohl�gated on the Secured Debt or chac the prospect of any paymem u impaired or che}'roperty is impa�red;
<br /> F. A matedal adverse change ln Tnistor's besiaess including ownCrship,management.and tinantiai conditions,whieh : —�.
<br /> Beneticiary in its opinion believes impairs che value of the Property or repayment of[he Secvned Dcbt;or . —.
<br /> � G. Any loan proeeeds are used for a purpose[hat wi11 conuibute eo excessive erosion of highly crodible laztd ur to the � . �
<br /> � wn�ersioa ei wetlands to produce an agricultural ca,nmodity,as furfher caplained in 7 C.F.R. Part 19A0,Subpatt � •
<br /> O.E�thibit M. �._,
<br /> 17.REMSDILrS OAI DEFAULT. Tn some instances, federal and state law will require Beneficiary tu provide Tnutoz wiih � ' , �
<br /> . nouce of the righc to cure,mediatlon noticrs or other norices and may establish time sthedules for foreclowre attlons. �' •. B
<br /> Subjeec to these fianItatiuns, if any. Bcneficiary may accelerate the Secured Debt and foreclose this Dex.�l uf Trust in a r . �
<br /> � manner providcd by law it this Tnutor is in default.
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