|
_ debtedness secured hereby to Trusts for cancellation and retention and upon payment of is fns,Trustee shell focareey.without
<br /> warranty,the Properly then held hereunder.The recital in such reconvoyarumof matters of tact.shell Iterwnciuelve Proof of trio
<br /> truthfulness thereof.The grantee In such reconveyance may be descrlhad as"the Person or person legally entitled thereto."Five
<br /> years
<br /> after issuance Ded(unless dnveyanirected seen request t
<br /> e.Tfustse may c rstain mam;n guarantee.Agreement or other evidence of In-
<br /> ness
<br /> e. Trustor hereby gives to and confers upon Beneficiary the right,power andl"t the
<br /> continuance
<br /> f these
<br /> trusts unconditional-
<br /> lyrents.Issues and protils of the Property snd of any personal Property y y
<br /> assigns all such rents.issues and profits to B®neficiory;provided t Beneficiary hereby consents to theeollection
<br /> and retention of such rents,issues and profts as they accrue and bwArrispayablisorilly It Trustor or Obligor Is Mt.at suds times,In
<br /> default with respect to payment of any indebtedness secured hereby or In the performance of any agreement hereunder.Upon any
<br /> such default.Beneficiary may at any time,without notice,either in person,by agent,or by a receive to be appointed by.court,and _
<br /> wit nout regard to the adequacy of any security for the Indebtedness hereby ad,enter upon and take possession of the Proper•
<br /> ty and any part thereof,and In its own name sus for or otherwise collect such a,Issues and profits,Including arose past due and
<br /> unpaid,and apply the same.less costs and expenses of Operation and collection.Including reasonable attorneys fees,upon any Im
<br /> debtedness secured hereby,and In such order as Beneficiary may determMe;also perform such acts of repair,cultivatim irrigation
<br /> or protection,as may be necessary or proper to conserve the value Of the Property.also lease the same or arty part thereof for such
<br /> rental,term,and upon such condition as Iis judgment may dletalir also prepare fair h-ei t,remove,and Sell ally crops that may be
<br /> growing upon the tpromises,Propand
<br /> thapply
<br /> p ollection the ast of such rentsroceeds ,iissueof es and proand the application on the Indebtedness secured hereby.
<br /> hereof astatf w ld.shag not
<br /> upon and tak-apossession y the Properly,
<br /> waWe or curs any default or notice of default hereunder,ar invalidate any ad Pursuant to such notice.Truster aft assigns to
<br /> Trustee,as further sacgrity for the performance Of the obiigattons so ured. ,all prepaid rents and all monies which may have
<br /> been or may hereafter be deposited with sold Trustor by any lessee of the phimases herein described,to secure the payinef,t of any
<br /> rent,and upon default In the performance of any of the provislons hereof,TfusW agrees to deliver such rants and deposits to the
<br /> Trustee.
<br /> 1. That upon default byTrustororObligor Inthe Performance ofany payment orrobligationsecuredhrrrebyorIntheperformance _
<br /> of arty agreement hereunder or,if all or any part of the Property or an interest therein Is sold,transferred or encumbered,whether
<br /> voluntarily or involuntarily,or if a beneficial Interest in Trustor is said,transferred or encumbered,voluntarily or Involuntarily and
<br /> Trustor Is not a natural person,Beneficiary may declare all sums ascured h Immediately jus without notice or demand and no
<br /> walver of this right shall be effective unless In writing and signed by Beneficiary.
<br /> _ g. Waiver of a right granted to Beneficiary hereunder as to one transaction or occurrence shall no be deemed to be a waiver of the C _
<br /> right as to any subsequent transaction or occurrence.Beneficiary may 'rd any notice before Trustee's sale by executing a
<br /> notice of rescission and recording the same.The recordation of such notice smill constitute also a cancellation of any priordeclars. �
<br /> tion of default and demand for sale,and of any acceleration of maturity Of Indebtedness affected by any prior declaration or notice
<br /> of default.The exercise by Beneficiary of the right of rescission shall not cunsliftute a waiver of any default then existing or subs&• Q
<br /> quently occurring,nor Impair the right of the Beneficiary to execute other declarations of default and demand for sale,or notices of
<br /> default and of election to cause the Property to be sold,nor otherwise affect note or deed of trust,or any of the rights,oblige.
<br /> tions or ram Stiles of the Beneficiary or Trustee hereunder.
<br /> h. At least three months or any lesser period required by law having elapsed between to recordation of the notice of default and the
<br /> date of sale,Trustee,having first given notice of sale as then required by law,and without demand on Trustor,shall sell the Property
<br /> at the time and placeof sale fixed by it In the roticoof sale,either as a whole Of M separate parcels,and In such order oaths Trustee
<br /> may detwrnina,at public auction to the highest bidder for cash.in lawful m of the United States of America,payable at the time
<br /> of sale.Trustee may postpone sale of all or any portion or the Property by public announcement at the tlmo of sale,and from itme to
<br /> time thereafter may postpone the sale by public annnuncement at the time fixed by the previous postponement.andwiftut further
<br /> — notice It may make such sale at the time to which the same shall be so post Trustee shall deliver to the purchaser Its deed
<br /> conveying the Property so sold,but without anycovenant or warranty,exptes or implied.Therecital In any such deer!of any mat-
<br /> conveying
<br /> -- tars or facts,stated either specifically or In general terms,or as conclusions of law or leaf,shall De conclusive proof of the
<br /> truthfulness thereof.Any person,Including Trustor,Trust"or Beneficiary,may purchase at the sale.Ater deducting Bit coats,fees
<br /> and expenses of Trustee and of this trust,Including coats of evidence of title Mconnectlon with the cele,lheTrusteestwh apply the
<br /> proceeds of the sale to the payment of all sums then secured hereby,in such order and manner as may be required by the
<br /> Beneficiary;the remainder,if any,to be paid to the person or persons legagy etttled thereto.It Beneficiary shag elect to bring sun
<br /> to tgage,closethis Beneficiary shalltrust In the be entitled to neasonble snerand um to the 10 be fixed by the as attorneys it"and rofees expanded In theto the psureofamol-
<br /> rosecutionof
<br /> said action.
<br /> i. fieneficiary,or any successor In ownership of any indebtedness secured hereby,may from time to time,by instrument In writing,
<br /> substitute a successor or successors to any Trustee named herein or acting hereunder,which Instrument.executed by the
<br /> Beneficiary and duly acknowledged and recorded In the office of the rocorder of the county or counties where said property is
<br /> situated,shall be conclusive Proof Of ution of
<br /> or Trustees,who shall,
<br /> -- nce
<br /> from the Trustee predecessor, ucceed to alstl its title,
<br /> ri
<br /> estate,rights,powers and dutuch successor ies.Said instrument must contain the of amae of
<br /> the original Trustor.Trustee and Beneficiary hereunder,the book and page where this Dead Is recorded and the name and address
<br /> of the new Trustee.
<br /> J. That this Deed applies to.Inures to the benefit of,and binds all parties h their heirs,legatees,devisees,adminiatratore,ex•
<br /> &tutors,successors and assigns.The term Beneficiary shall mean the owner and holder,including pledgees,Of the note,guarantee,
<br /> Agreement,or other evidence of Indebtedness secured hereby,whether or rat named as Beneficiary herein.to this Deed,whenever
<br /> the context so requires,the masculine gender Includes the feminine and/or the neuter,and the singular number Mcludea the plural.
<br /> k. That Trustee accepts this Trust when this Deed,duly executed and acknowledged,is made a public record as provided by taw. _
<br /> Trustee Is not obligated to notify any party hereto of pending sale under my other deed of trust or of any action or proceeding In
<br /> which Trustor,Beneficiary or Trustee shall be a party unless brought by Trullim
<br /> and
<br /> 1. shall be llabletor or Obligor who Is a for any deficiency otter thensaalle off the said property essly agrees heat his or her extent such Trustoruor Obligor Ice personally separate obligated to
<br /> pay the Indebtedness secured hereby.
<br /> m. That If Trustor or any successor In Interest 10 Trustor sella,transfers or encumbers any Interest In the Properly.whether voluntarily
<br /> or Involuntarily,or If a beneficial Interest in Trustor Is sold or transferred,voluntarily or Involuntarily and Trustor M not a natural per-
<br /> son;(a)the transferor and the transferee shall each immediately give written police of sold transfer to the Beneficiary,at Its address
<br /> designated on the first page of this deed of trust;(b)If the deed of trust secures Trustor's or Obligor's obligation under an Agree.
<br /> ment as defined herein,gill credit extended by Beneficiary under this Agreement.whether before or afterthe property to transferred,
<br /> shall be secured under this deed of trust as if no transfer had occurred except for credit extended by Beneficiary more than five days
<br /> atter It has received the written notices required by this paragraph.
<br /> n. That the pleading of any statute of limitations as a defense to any.and all obligations secured by this deed of trust Is hereby waived
<br /> to the full extent permitted by law.
<br /> 4. The execution of this Deed of Trust by any person who has no present Interest in thaproperty described herein shall not bedeemed to In-
<br /> dicate
<br /> mdicate that such an interest presently exists.Rather,execution of this Deed of Trust
<br /> Interest shSuch ae arson shall
<br /> lt to constitute
<br /> such
<br /> o e crest _
<br /> Ws
<br /> agreement that If such person hereafter"quires an interest in said property,
<br /> hereunder.
<br /> _ It a malting address Is set forth opposite any Trustor's signatule hereto,and not otherwise,the undersigned trustor shalt be deemed to
<br /> - hive r®quested that a copy of any notice of default,and of any notice of sale tignan def,tri mallad to a«=T-:�=r et t=_!d mtrires& --
<br /> Order: TR/C/A Description: 1989.8349 Page 3 of 4 Comment:
<br />
|