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<br /> ! -proceeds7 in connection with condemnation or other tak;ng of the Property or part thereof,or for conveyance in lieu of condemnation. •.• , , -
<br /> + , <
<br /> � Lender shalt be enUUed at its option to commence,appear in and psosecute in its own name any action or proceedings,and shall also • :i,
<br /> be e n ti U e d t o m a k e a n y c o m pr omise or setclement m connecbon with such taking or damage.In tiie event any poNOn of the Properiy is a,.
<br />° so taken or damagad, Lender shall have the option in its sale and absotute disaetion, to a p p l y a l l s u c h p r o c e e d s, a ft e r d e ductin g V LL;�
<br /> therefrom alI costs and expenses incurred by it in connec6on rvith such P�oceeds,upon any mdebtedness secured hereby and in suct� "
<br /> arder as Lertder may determine,or to aRpty all such Proceeds,after such deductions,to the restoraUOn of the Property upon such con- , ; ;��=
<br /> ditions as Lender may determine.My applica5on of Proceeds to indebtedness shaH not exte�d or postpone the due date of any pay- —
<br /> ments under the Note,or cure any defau(t thereunder or hereunder.My unapplied funds shall be pa�d to Trustor .
<br />� 8. Perfom►ance by Lender.Upon the occurrence of an Event af Default hen ts own d scretion,but w thout obl g tionrto do so. R �
<br /> commenced which materially affects Lenders interest in the Property.Lender may ,
<br /> and without notice to or demand upon Trustor and without releasing Trustor from any ob�igati h�f.TrustoryshallT medh telygup n � ' �
<br /> hut failed tn do and may also do any ottisr act it deems necessary to protect the security ,
<br /> tt
<br /> - demand therefor by Lender,pay to Lender all costs and expenses incurred and sums e�ended by Lender m connection with the exer-
<br /> cise by Lender of the foregoing rights,together with intetest thereon at the default rate provided in the fVote,which sha��b$a�ded W
<br /> the indebtedness secuted hereby.Lender shalt not mcur any liabitity because of anything ii mey do or omit to do hereunder.
<br /> 9.19��dous Mdterials.Trusto�Shall keep the Property in compliance with all applicable laws, orcimances and regulauons
<br /> relating to industrial hygiene or env�ronmental protection(collectrvely referred to herem as"Environmental Laws').Trustnr shell keep
<br /> the ProQerty free irom all substances deemed to be hazardous or to�uc under any Environmental Laws(co�lectively referred to herein , L_.,. ,
<br /> as'Harardous Materials'.Trustor hereby warranls and represents to Lender that tfiere are no Hazardous Materials on or under the 4 ,.. ,���f: ti:,.
<br /> Propsrty.Trustor hereby agrees to indemnify and hold hartnless Lender,its diredors,officers,employees and agents,and any succ�+- ,
<br /> sors to Lenders interest from and against any and aIl daims.damagesr losses and Iiabitities�E FOREGOING WARRANTIES AND ` . •
<br /> use,disposal or transport of any Hazardous Matenals on,under,from o about the ProPerry• ' .. u ..
<br /> ;� REPRESENTATtONS,AP1O TRUSTOR'S OBUGATIONS PURSUANT TO THE FOREGOING INDEMNITY. SHALL SURVIVE _��`' `
<br /> ,...-
<br /> , RECONVEYANCE OF TE{65 DEED O�TRUST. ' .x=-,.. ;: :_
<br /> S 10.Assignment of Rents.Trustor hereby assigns to L�nd r,and g ants Len�ter a security interest in,all present,future and � .
<br /> ' s after arising rents,issues an d pro fi t s o f t fi e Pro pe r t y:provided that 7rustor sha.1,until tF•-oc�uRenc of an Event of Oefault,hereunder. � < ,��—
<br /> ' have the right to collect and retain such rents,issues and profits as thay become due and payable.Upon the occurrence o f an E v e n t of � _••, J
<br /> � Qefault,Lender may, either in person or by age��with or without bringing any action or proceeding,or by a receiver appointed by a ;;,;C�� ,t
<br /> cou R an d w i t h o u t re g a r d to the ad e qua c y of its securitl►.enter upon and take possession of the Properly,or any part thereof,in its own � :�. ,
<br /> ,�:�
<br /> name or in the name of the Trustee,and do any acts which it deems necessary or deslrable to preserve t l i e v a l u e,m arketabil i t y or .• ��.:�'.;
<br /> r entabili t y of tha Proparly,or any paR thereof or interest therein,or to increase the income lherefrom or protect the security hereof and,
<br /> _.`��
<br /> � with or without taking possession of the Property,sue for or otherwlse ca�lec4 the re;�f��i�ues and p fits�,less cosls a d egxpens- ', ` ��� ��
<br /> due and unpaid,by notifying tenants to make payments to Lender.Lender may aPA Y 3;.�'�; ; -
<br /> � - es of operation and collectlon induding attomay's fees,to any indebtedness secured hereby,all in such order as Lender may deter- 'd.
<br /> mine.The entering upon and taking possession of the Property.the collection of such rents,issues and profits, and the appGcation - „:,.�'
<br /> thereof as aforesaid sha11 not cure or waive any default or no6ce of default hereunder or invalidate any ad done in response to such .�. '
<br /> ' detault or pursuant to such notice of default and,notwithstanding the continuance in possession of the property or the collecGon. . ;.� ;, t::
<br /> receipt and appliqtion of rents,issues or profits,Trustee and Lender shall be entiUed to exercise every right provided for in any of the ` '
<br /> Loan Instruments or by taw upon occuRence of any Event of Dafaul�induding a�thout limitation the right to exercise the poLVer of sate. � ;; r ;
<br /> F u r t h e r.L e n d e r s ri ghis and remedies under this paragraph shall be cumulative with.and in no way a limitat'son on.Lenders rights and �1:.:. • +�
<br /> remedies under any assignment of leases and rents recorded against the Prope rt y.L e n d e r,T r u s t e e a n d t h e r e c e i v er shall be Iiable to _ w �._ '�� '_ •�
<br /> account onty for those rents actually received- ��-� � •
<br /> � 11.Eventa of Default Tha following shall canstitute an Event of Default under this Deed of Trust: „ *4.
<br /> s �:
<br /> _ (a)Failure to pay any ins:allment of principat or interest or a�y other sum secured hereby when due; >;�,,,,, • �, , _
<br /> Y. ��.., ;
<br /> (b)A breach of or default under any provision contained in the Note,this Deed of Trust,any ot the Loan Insbuments,or any `,n_.:. . _.:;s£V.`
<br /> other lien or encumbrance upon the Property: � • .,",z��__.
<br /> (c)A writ of execution or attachment or any similar process shaN be entered against Trustor which shall become a liea on • r��
<br /> �- the Proparty or any poRion thereof or intsrest therein; �_.-�-�,�.•�"-�' _`-
<br /> . (d)There shall be filed by or agalnst Trustor or Borrower an action under any present or tuture federal.state or other statute, .�:.`_,.,__ ��;
<br /> law or regulatlon relaUng to bankruptcy,insolvency or other retiei for dabtors:or there shall be appointed any trustee.recefver or
<br /> . liquldator of Tnistor or Borrower or of a11 or any paR of the ProAerty.or the rents.Issues or profits thereof,or Trustor or Bwrower �-,�.�-^a
<br /> ' shall make a�y generat assignment for the benefit of creditors: rt of or an interest in the � _
<br /> � (e)The sale,tPansfer, tease, assignment,conveyance ar fuAher encumbrance of all or any�a Y .�,w^`��
<br /> PropeRy,either voluntarify or invotunffidty without tho express wditen consent of Lender,provided t3�at Trustor shall be permit- '�_�- '
<br /> ted to execute a lease of the Property that does not contain an opUon to purchase and the term of which doas not exceed one ��;{
<br /> ....:.�,••� :.
<br /> year, ^�',��`-
<br /> (�Abandonment of the Propartyr:or
<br /> (g)Ii Trustor is not an individuat,the issuance,sale,trans(er,assignment,c;onveyance or encumbrance oi more than(if e ",►.:tk^-,�•�. _
<br /> _ corporaSon)a tcial of 25 percent of its issued and outstanding stock,ar(if a Dae�nt oi�the mited liabitity compa- ''� ' �:•�.--'
<br /> cent oi paRnership interests.or pf a limited liability company)a total oi P -°� *' ° •�-�'�•-�--,�
<br /> ny lnterests or vo4ing rights during the pedod this Deed ot Trust remains a lien on the property. ,---��:-:-�-�'���°•:
<br /> ., 12.Romedios;Aaeeleration iJpon Detault In the evant of ati�Eand the saeme shaltthereupon become due a d payabte vuith- `
<br /> ����.._.
<br /> � by law,dedare all indebiedness secured hereby to be due and pay -
<br /> out any presentment,demand,protest or notice oi any klnd.Thereafter Lender may: •
<br /> (a)Oemand that Trustee exercise the POWER OF SAl.E granted herein,and Trustee shall thereafter cause Trustnr's inter- .
<br /> • e�(b)Exerclse any nd a�l�dghts Provldr�ed for�n any ot he Loa�n 1 struments or by eaw upon�eoccurtenceNOtany E ent ot ,. ,
<br /> Detault;and � � �
<br /> (c)Commence an action to foreGose lhis Deed oi Trust as a mortgage,appoint a receiver,or specifically en force any o i t h e
<br /> covenants hereot.
<br /> � No remedy herein conferred upon or reserved to Trustoe or Lender is intended to be exclusive oi any other remedy herein,in the Loan .. -
<br /> Instrumants or by Iaw provlded or pertnitted,but each sha11 be cumulative,shall be in addiUan to every other remedy given hareunder.
<br /> in the Loan Instrumenis or naw or hereafter exisUng at law or in equity or by statute,and may bo exercised concunenUy,indepeadenUy
<br /> or sucoesively. ' .
<br /> � 13.Trustee.The Trustee may resign at any time without cause,and Lender may at any time and without cause appolnt a suo-
<br /> cessor or subsUtute Trustee.Trustee shall no!be Itabte to any party,including without IlmitaUon L9nder, Borrower,Trustor or any pur-
<br /> chassr of the Property,for any loss or damage unless due to reckless or wiflful misconduct.and shall not be requlred to take any adion ,
<br /> in connectlon with!he enforcement of this Oeed of Trust unless indemnifted,in wri6ng,for alt costs.�m udic al or unde pthe power oi - � �,
<br /> . may be associated theo W�one the sale of ar I o�any porti o of the P pertyr,as prov ded by law;opse I he Properiy as a whole,or in _
<br /> . sate granted herein�;p p .
<br /> separate parcets or lots at Trustee s discretion.
<br /> 14_Fees and Expenseu.In the event Trustee sells the Property by exercise oi power oi sate,Trustee shatl be entit4sd to appty
<br /> arry sata proceeds first to payment of all costs and expenses oi exerdsing power of sate,inGuding all Tnastee's fees.and Lendets and . r
<br /> � Trustee's attome�s fees, actually incurred to extent pertnitted by applicable law.In the event Botrower or Trustor exetcises any right
<br /> • provided by law to cure an Event oi Detautt,Lender sha11 be entiUed to recover from Tnutor a!1 costs and expenses actuC,aalbqe i Wrted as
<br /> �� a result of Trustar's default,including v�ithout limitation all Trustee's and attomey's tees.to the extent permitted by app' • __
<br /> 15.Future Adv�nces. Upon request oi Borrower,Lender may.at its option, make additional and future advances and read-
<br /> - vanr,es to 8urro�er.SL..tti..�r'�nces and readwances vrith interest thereon,shait be secured by thls Oeed of Trust.At no tlme sha11 the � .
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