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Assignment of Rents; Appointment enl of Receiver; Lender In Possession,As additional security part thereof or interest therein),(11)the execution of a contract or agreement creating a right to title(or any portion
<br /> 20. Assl
<br /> B PP thereof,legal or equitable)in the Property(or any part thereof or interest therein),(III)or an agreement granting a
<br /> hereunder,Borrower hereby assigns to Lender the tents of the Propety;however,Borrower shell,prior to Acceleration possessory right in the Properly(or any portion thereof),in excess of 3 years,(iv)a sale or transferof,or the execution
<br /> under paragraph 18(Accelera(ton;Foreclosure;Other Remedies)or abandonment of the Property,have the tight to of a contract or agreement creating a right to acquire or receive,more than fifty percent(50%)of the controlling
<br /> collect and retain such rents as they become due and payable, interest or more than fifty percent(50%)of the beneficial Interest in Borrower,(v)the reorganiratior,liquidation or
<br /> Lender or the holder oft[I e Trustee's cetliflcute,of purchase shall be entitled to a receiver for the Property after dissolution of Borrower.Not to be included as a Transfer are(i)the creation of a lien or encumbrance subordinate to
<br /> Acceleiation under paragraph 18(Acceleration,Pneclosue;Other Remedies),and shall also be so entitled during the this Deed of Trust,(ii)the creation of a purchase money security interest for household appliances,or
<br /> time coveted by foreclosute proceedings and the pen iod ofredemption,ifany;and shall be entitled tilereto as a matter of nt a transfer b devise,descent orb operation of the law upon on the death of a olnt tenant.At the election of
<br /> right without regan d to dlesolvency or insolvency of Borrowet or ofthe tilen owner of the Property,and without regard ( ) y y o p
<br /> to the value thereof.Such receiver may be appointed b an Court of coin etent urlsdiction upon ex arte a t rlication Lender,in the event m each and every Deed
<br /> y I p y y P � p p I I (a) All scans secured by this Deed of Trust shall become immediately due and payable(Acceleration).
<br /> and without notice;notice being hereby expressly waived.
<br /> Upon Acceleration underparagmph 18(Acceleration;Foreclosure;Other Reniedies)orabandomnenl oftile Property, (br If a Transfer occurs end should Lender not exercise Lender's option pursuant to this paragraph Tr to
<br /> Lender,in person,by agent or by judicially-appointed teceivel,shall be entitled to enter upon,take possession of and Accelerate,l sums
<br /> shah re deemed to have theiassumed tr all of the obligations o Bon nc er under this rantDee exp-ofressly
<br /> Trust
<br /> manage the Properly and to collect the rents of the Piopeity including close past due.All rents collected by Lender or the including all sums secured hereby whether or not the instrument evidencing such conveyance,contract s grant expressly
<br /> receiver shall be applied,fast to payment of the costs of pieservallon and management of the Property,second to payments so Lender
<br /> rma This covenant shall run with the Property and remain m full force end effect Borntilrower
<br /> said sums are paid to full
<br /> o said
<br /> due upon prior liens,and then to the sums scuued by lips Deed of Tiust.Lender and file receiver shall be liable to account sums in may without
<br /> paymenicet
<br /> to credit o Tran dea sferee
<br /> of Transferee In lhesame Funs on paymr as withent
<br /> nt in full ofsald sums,without
<br /> only for hose teals actually received Bunts including the payment or credit to Transferee of undisbursed reserve Funds on payment m full of said sums,without
<br /> in any way altering or discharging Bminwer's liability hereunder for the obligations hereby secured.
<br /> 21. Release.Upon payment of all sums secured by this Deed of Trust,Lender shall cause Tiuslee to release (c) Should Lender not elect to Accelerate upon the occurrence of such Transfer then,subject to(b)above,the
<br /> this Deed of•'I rust and shall produce for Ti ustee the Note But rower shall pay all costs of recor dation and shall pay the mere fact of a lapse of time or the acceptance of payment subsequent to any of such events, whether or not Lender had
<br /> statutory Trustee's fees.If Lender shall not produce the Note as aforesaid,then Lender,upon notice in accordance with actual of constructive notice of such Transfer,shall not be deemed a waiver of Lender's right to make such election nor shall
<br /> paagraph 16(Notice)from Botowei to Lender,shall obtain,at Lender's expense,and file any lost instrument bond Lender be estopped therefrom by virtue thereof.The issuanceon behalfof Lendet of•a routine statement showing the status
<br /> required by I'tustee or pay the cost thereof to effect the release of this Deed ofTnrst. of the loan,whether of not Lender had actual or constructive notice of such Transfer,shall not be a waiver or estoppel of
<br /> Lender's said rights.
<br /> 22. Waivei of Exemptions,But lower hereby waives all right of homestead and any other exemption,in the
<br /> Property understate or federal law presently existing or hereafter enacted. 25. Borrower's Copy.Borrower acknowledges receipt ofa copy of the Note and this Deed off lust
<br /> use
<br /> 23. Escrow Funds for Taxes and Insurance.This pniagraph 23 Is not applicable it Funds,as defined below,
<br /> are being paid pursuant to a prior encumbrance.Subject to applicable law,Borrowei shall pay to Lender,on each day EXECUTED BY BORROWER.
<br /> inslalimenis of principal and mleiest are payable under the Note,until the Note is paid in full,a sum(herein ieferred
<br /> to as"Funds")equal to _ _ ____._ of the IF BORROWER IS NATURAL PERSON(s):
<br /> yeat ly taxes and assessments which cony attain print try over this Deed oT Trust,plus of
<br /> yem ly premium installments for Piopetty Insurance, all as reasonably estimated initially and from time to time by ---- --- --
<br /> Lender on the basis of assessmenis end bills and reasonable estimates thereof,taking Into account any excess Funds
<br /> not used of shot lages,
<br /> The principal of file Funds shall be held in a separate account by Lender in oust for tile benefit of Boi rower and doing business its--
<br /> deposited in an institution,the deposits or accounts of which are insured or guaranteed by a federal or state agency.Lender
<br /> shall apply the Funds to pay said taxes,assessments and insurance premiums.Lender may not charge for so holding and
<br /> applying the Funds,analyzing said account or verifying and compiling said assessments and bills Lender shall not be IF BORROWER IS CORPORATION:
<br /> required to pay BOlrnwcr any interest on earnings on the Funds.Lender shall give to Bon•ower, without charge,an annual
<br /> accounting of the Funds showing credits and debits to tile Funds and tile popose for which each debit to the Funds was ATTEST:
<br /> made.The Funds are pledged as additional secui ity for the sums secured by tilis Deed of I rust. Name of Corporation
<br /> If the amount of the Funds held by Lender shall not be sufficient to pay taxes,assessments and insu imce
<br /> premiums as they fall due,Borrower shall pay to Lender any anmunt necessary to make up the deficiency within 30 days ____ .,...— _, By -
<br /> from the date notice is given in accodance with pan agraph 16(Notice)by Lender to Borrower requesting payment thereof. Secretary President
<br /> Provided however,if the loan secured by this Deed of Trust is subject to RESPA or other laws i egulating Escrow Accounts)
<br /> such deficiency,surplus or any other required adjustment shall be paid)credited or adjusted in compliance with such (SEAL)
<br /> applicable laws.
<br /> Upon payment in full ofall sumssecured by lilis Deed of Trust,Lender shall simultaneously reload to BOITowei
<br /> any Funds held by Lender Ifundei paragn aph 18(Acceleration;Foreclosure;Othei Remedies)the Property is sold or the
<br /> Property is otilei wise acquired by Lender,Lender shnll apply,no later than immediately prior to the saleoftile Property IF BORROWER IS PARTNERS]-IIP:
<br /> or its acquisition by Lender,whichever occurs first,any Funds held by Lendet at the time of application as a credit Name of Partnership
<br /> against the stuns secured by this Deed of"f rust.
<br /> By
<br /> 24. Transfer of the Property, Assumption The following events shall be referred to herein as a A General Pattner
<br /> "Transfer•"•(1)a ITansfer or conveyance of title(or any portion thereof,legal or equitable)of the Ploperty(or any
<br /> _Zit_ -25-
<br /> Exhibit 2 Exhibit 2
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