Laserfiche WebLink
B. It is mutually agreed: <br />(1) That any award of damages in connection with any condemnation for public use of or injury to <br />said property or any part thereof is hereby assigned and shall be paid to Beneficiary who may apply or release <br />such moneys received by him or her in the same manner and with the same effect as above provided for <br />regarding disposition of proceeds of fire or other insurance. <br />(2) That by accepting payment of any sum secured hereby after its due date, Beneficiary does not <br />waive his or her right either to require prompt payment when due of all other sums so secured or to declare <br />default for failure so to pay. <br />(3) That at any time or from time to time, without liability therefore and without notice, upon written <br />request of Beneficiary and presentation of this Deed and said note for endorsement, and without affecting the <br />personal liability of any person for payment of the indebtedness secured hereby, Trustee may: reconvey any part <br />of said property; consent to the making of any map or plat thereof; join in granting any easement thereon; or <br />join in any extension agreement or any agreement subordinating the lien or charge hereof <br />(4) That upon written request of Beneficiary stating that all sums secured hereby have been paid, and <br />upon surrender of this Deed and said note to Trustee for cancellation and retention or other disposition as <br />Trustee in its sole discretion may choose and upon payment of its fees, Trustee shall reconvey, without <br />warranty, the property then held hereunder. The recitals in such reeoriveyance of any matters or facts shall be <br />conclusive proof of the truthfulness thereof. The Grantee in such reconveyance may be described as "the <br />person or persons legally entitled thereto." <br />(5) That as additional security, Trustor hereby gives to and confers upon Beneficiary the right, <br />power and authority, during the continuance of these Trusts, to collect the rents, issues and profits of said <br />property, reserving unto Trustor the right, prior to any default by Trustor in payment of any indebtedness <br />secured hereby or in performance of any agreement hereunder, to collect and retain such rents, issues and <br />profits as they become due and payable. Upon any such default, Beneficiary may at any time without notice, <br />either in person, by agent, or by a receiver to be appointed by a court, and without regard to the adequacy of any <br />security for the indebtedness hereby secured, enter upon and take possession of said property or any part <br />thereof, in his or her own name sue for or otherwise collect such rents, issues, and profits, including those past <br />due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable <br />attorney's fees, upon any indebtedness secured hereby, and in such order as Beneficiary may determine. The <br />entering upon and taking possession of said property , the collection of such rents, issues and profits and the <br />application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate <br />any act done pursuant to such notice. <br />(6) That upon default by Trustor in payment of any indebtedness secured hereby or in performance <br />of any agreement hereunder, Beneficiary may declare all sums secured hereby immediately due and payable by <br />delivery to Trustee of written declaration of default and demand for sale and of written notice of default and of <br />election to cause to be sold said property, which notice Trustee sball Cause to be filed for record. Beneficiary <br />also shall deposit with Trustee this Deed, said note and all documents evidencing expenditures secured hereby, <br />After the lapse of such time as may then be required by law following the recordation of said notice of default, <br />and notice of sale having been given as then required by law, Trustee, without demand on Trustor, shall sell said <br />property at the time and place fixed by it in said notice of sale, either as a whole or in separate parcels, and in <br />such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United <br />States, payable at time of sale. Trustee may postpone sale of all or any portion of said property by public <br />announcement at such time and place of sale, and from time to time thereafter may postpone such sale by public <br />announcement at the time fixed by the preceding postponement. Trustee shall deliver to such purchaser its deed <br />2.1164Nt 22619$6.1 0nl <br />