Laserfiche WebLink
appropriate for the operation and maintenance thereof including, but not limited to, the <br />execution, cancellation or modification of leases, the collection of all rents and revenues of the <br />Property, the making of repairs to the Property and the execution or termination of contracts <br />providing for the management or maintenance of the Property, all on such terms as are deemed <br />best to protect the security of this Deed of Trust. In the event Beneficiary elects to seek the <br />appointment of a receiver for the Property upon Trustor's breach of any covenant or agreement of <br />Trustor in this Deed of Trust, Trustor hereby expressly consents to the appointment of such <br />receiver. Beneficiary or the receiver shall be entitled to receive a reasonable fee for so managing <br />the Property. <br />All rents and revenues collected subsequent to delivery of written notice by Beneficiary <br />to Trustor of the breach by Trustor of any covenant or agreement of Trustor in the Loan <br />Documents shall be applied first to the costs, if any, of taking control of and managing the <br />Property and collecting the rents, including, but not limited to, attorney's fees, receiver's fees, <br />premiums on receiver's bonds, costs of repairs to the Property, premiums on insurance policies, <br />taxes, assessments and other charges on the Property, and the costs of discharging any obligation <br />or liability of Trustor as lessor or landlord of the Property and then to the sums secured by this <br />deed of Trust. Beneficiary or the receiver shall have access to the books and records used in the <br />operation and maintenance of the Property and shall be liable to account only for those rents <br />actually received. Beneficiary shall not be liable to Trustor, anyone claiming under or through <br />Trustor or anyone having an interest in the Property by reason of anything done or left undone by <br />Beneficiary under this Section 2.3 except resulting from the gross negligence or willful <br />misconduct of Beneficiary or its agents. <br />If the rents of the Property are not sufficient to meet the costs, if any, of taking control of <br />and managing the Property and collecting the rents, any funds expended by Beneficiary for such <br />purposes shall become part of the Secured Obligations pursuant to Section 3.3 hereof. Unless <br />Beneficiary and Trustor agree in writing to other terms of payment, such amounts shall be <br />payable upon notice from Beneficiary to Trustor requesting payment thereof and shall bear <br />interest from the date of disbursement at the rate stated in Section 3.3. <br />Any entering upon and taking and maintaining of control of the Property by Beneficiary <br />or the receiver and any application of rents as provided herein shall not cure or waive any default <br />hereunder or invalidate any other right or remedy of Beneficiary under applicable law or <br />provided herein. This assignment of rents of the Property shall terminate at such time as this <br />Deed of Trust ceases to secure the Secured Obligations. <br />ARTICLE 3 <br />TAXES AND INSURANCE; ADVANCES <br />Section 3.1 Taxes, Other Governmental Charges and Utility Charges. <br />Trustor shall pay, or cause to be paid, prior to the date of delinquency, all taxes, <br />assessments, charges and levies imposed by any public authority or utility company which are or <br />may become a lien affecting the Security or any part thereof; provided, however, that Trustor <br />shall not be required to pay and discharge any such tax, assessment, charge or levy so long as (a) <br />6 <br />