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renewals or replacements thereof or articles in substitution therefor, whether or not the same are,
<br />or shall be attached to the improvements in any manner ("Fixtures and Equipment"); and
<br />(d) all leases, subleases, licenses and other agreements relating to use or
<br />occupancy of the Property ("Leases") and all rents or other payments which may now or hereafter
<br />accrue or otherwise become payable to or for the benefit of Trustor ("Rents"),
<br />All of the above -referenced.: Property, Improvements, Appurtenance, Fixtures and
<br />Equipment, Leases and Rents are herein referred to collectively as "Security".
<br />Section 2.3 Obligations Secured. This Deed of Trust is given for the purpose of securing
<br />payment and/or performance of the following ("Secured Obligations"): (i) all present and fixture
<br />obligations of Trustor set forth in this Deed of Trust or in the Regulatory Agreement (including
<br />without limitation, Trustor's obligation: to rent the Affordable Units in the Property only to income
<br />eligible tenants); (ii) all additional present and future obligations of Trustor, to Beneficiary under
<br />any other agreement or instrument acknowledged by Trustor (whether existing now or in the
<br />future) which states that it is or such obligations are, secured by this Deed of Trust; (iii) all
<br />modifications, supplements, - amendments, renewals, and extensions of any of the foregoing,
<br />whether evidenced by new or additional documents; and (iv) reimbursement of all amounts
<br />advanced by or on behalf of Beneficiary to protect Beneficiary's interests under this Deed of Trust.
<br />Section 2.4 Assignment of Rents, Issues, and Profits. Trustor hereby irrevocably,
<br />absolutely, presently and unconditionally assigns to Beneficiary the rents, royalties, issues, profits,
<br />revenue, income and proceeds of the Property. This is an absolute assignment and not an
<br />assignment for security only. Except to the extent that the ]case or rental of the Property is
<br />prohibited by the Regulatory Agreement, Beneficiary hereby confers upon Trustor a license to
<br />collect and retain such rents, royalties, issues, profits, revenue, income and proceeds as they
<br />become due and payable prior to any Event of Default hereunder. Upon the occurrence of any such
<br />Event of Default, Beneficiary may terminate such license without notice to or demand upon
<br />Trustor and without regard to the adequacy of any security for the indebtedness hereby secured,
<br />and may either in person, by agent, or by a receiver to be appointed by a court, enter upon and take
<br />possession of the Property or any part thereof, and sue for or otherwise collect such rents, issues,
<br />and profits, including those past due and unpaid, and apply the same, less costs and expenses of
<br />operation and collection, including reasonable attorneys' fees, to any indebtedness secured hereby,
<br />and in such order as Beneficiary may determine. Beneficiary's right to the rents, royalties, issues,
<br />profits, revenue, income and proceeds of the Property does not depend upon whether or not
<br />Beneficiary takes possession of the Property. The entering upon and taking possession of the
<br />Property, the collection of such rents, issues, and profits, and the application thereof as aforesaid,
<br />shall not cure or waive any default or notice of default hereunder or invalidate any act done
<br />pursuant to such notice. If an Event of Default occurs while Beneficiary is in possession of all or
<br />part of the Property and/or is collecting and applying Rents as permitted under this Deed of Trust,
<br />Beneficiary, Trustee and any receiver shall nevertheless be entitled to exercise and invoke every
<br />right and remedy afforded any of them under this Deed of Trust and at law or in equity, including
<br />the right to exercise the power of sale granted hereunder. Regardless of whether or not Beneficiary,
<br />in person or by agent, takes actual possession of the Property and Improvements, Beneficiary shall
<br />not be deemed to be a "mortgagee in possession," shall not be responsible for performing any
<br />obligation of the lessor under any Lease, shall not be Iiable in any manner for the Property, or the
<br />ATTY/AGR/2024.193.1 — AFFORDABLE HOUSING LAND DONATION AGREEMENT—EXHIBIT H — DEED OF TRUST & SECURITY AGR
<br />REV: 10-22-24 VR
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