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8. Reconveyance. That upon written request of Beneficiary stating that the
<br /> Secured Obligations have been fulfilled, and upon surrender of this Deed of Trust,
<br /> Trustee shall reconvey, without warranty, the property then held hereunder. The
<br /> recitals of such reconveyance of any matters or facts shall be conclusive proof of the
<br /> truthfulness thereof. The grantee in such reconveyance may be described as "the
<br /> person or persons legally entitled thereto."
<br /> 9. Assignment of Rents. Trustor hereby absolutely and unconditionally
<br /> assigns to Beneficiary all of the rents, issues, profits, royalties, revenues, income and
<br /> other benefits (collectively, the "Rents") derived from the Property, whether now due,
<br /> past due or to become due, and hereby gives to and confers upon Beneficiary, either
<br /> directly or through a receiver, the right, power and authority, but not the obligation , to
<br /> collect the Rents, and to sue, either in the name of Trustor or Beneficiary, for all such
<br /> Rents and to apply the same to the indebtedness secured hereby in such order as
<br /> Beneficiary may determine in its sole discretion . This assignment of Rents is intended
<br /> to create and shall be construed to create an absolute assignment to Beneficiary of all
<br /> of Trustor's right, title and interest in the Rents; provided , however, so long as no default
<br /> exists by Trustor in the payment of any indebtedness secured hereby, or in any other
<br /> covenant contained herein , or in said note or notes or in any other document evidencing
<br /> or securing such indebtedness, Trustor shall have the right to collect all Rents from the
<br /> Property and to retain, use and enjoy the same. Upon the occurrence of such a default,
<br /> without the necessity of demand or other notice to Trustor or any other act to enforce
<br /> Beneficiary's interest pursuant to this assignment, Trustor shall have no interest
<br /> whatsoever in the Rents that are received by Trustor after a default, and all such Rents
<br /> shall be received and held by Trustor in constructive trust for Beneficiary and delivered
<br /> promptly to Beneficiary, or to a court-appointed receiver for the Property, without the
<br /> necessity for further notice to, or demand upon, Trustor. Upon the occurrence of such a
<br /> default and at any time thereafter during the continuance thereof, Beneficiary may, at its
<br /> option, send any tenant of the Property a notice to the effect that: (a) a default has
<br /> occurred ; (b) Beneficiary has elected to exercise its rights under this assignment; and
<br /> (c) such tenant is thereby directed to thereafter make all payments of Rents to or for the
<br /> benefit of Beneficiary or as Beneficiary shall direct. Any such tenant shall be entitled to
<br /> rely upon any notice from Beneficiary and shall be protected with respect to any
<br /> payment of Rents made pursuant to such notice, irrespective of whether a dispute
<br /> exists between Trustor and Beneficiary with respect to the existence of a default or the
<br /> rights of Beneficiary hereunder. Any such tenant shall not be required to investigate or
<br /> determine the validity or accuracy of such notice or the validity or enforceability of this
<br /> assignment. Trustor hereby agrees to indemnify, defend and hold any such tenant
<br /> harmless from and against any and all losses, claims, damages or liabilities arising from
<br /> or related to any payment of Rents by such tenant made in reliance on and pursuant to
<br /> such notice.
<br /> 10. Default and Foreclosure. Upon default by Trustor in performance of any
<br /> Secured Obligation , Beneficiary may deliver to Trustee a declaration of default and
<br /> demand for sale and of a notice of default and a notice of sale , which notice Trustee
<br /> shall cause to be filed for record . Beneficiary also shall deposit with Trustee this Deed
<br /> of Trust and all documents evidencing the Secured Obligations and expenditures, if any,
<br /> REV: 04-20-16 VR
<br /> Page 24 of 29
<br /> ATTY/AGR.2016.081/Fuller Street Partners, LLC Affordable Housing Agreement
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