|
6.1.K. - Page 32
<br /> each instrument af further assurance, to be filed, registered, or recorded in such mar�ner
<br /> and in such pfaces as may be required by any present or fu#ure law in order to publish
<br /> notice of arrd fully to protect the lien hereaf upon, and the title of Trustee to, the Property
<br /> encumbered hereby.
<br /> 15. Condernnatian and Insurance Proceeds. Immediately �pon obtain�ng
<br /> knowfedge of the institution of any proceedings for the condemnatiar� or other taking of
<br /> a�l or any portion of the Property, or knowledge of any casualty damage to the Property,
<br /> or damage in any other mann�r, Trustor shall immediately notify Benefciary thereof.
<br /> Trustor h�reby authorizes and empowers Bene�iciary as a#torney-in-fact for Trustor to
<br /> make proof of lass, to adjust and compromise any claim under the insurance policies
<br /> covering the Proper�y, to appear in and prosecute any action arising from such
<br /> insurance policies, to coilect and recei�e insurance proceeds, and to cfeduct therefrom
<br /> Beneficiary's exp�nses inc�rred in the cflllection of such proceeds; provicled, however,
<br /> that nathing contained in this Sectian shafl require Beneficiary to ir�cur any expense or
<br /> take any action hereunder. Trustor hereE�y authorizes and empowers Benefciary, at
<br /> Beneficiary's optian, as attorney-in-fact for Trustor, to commence, appear in and
<br /> prosecute, in Beneficiary's or Trustor's name, any action or proceeding relating to any
<br /> condemnation ar ather taking of all or any part af the Property, whether direct ar
<br /> indirect, and to settle or compromise any clairrt ir� connection with such condem�ation or
<br /> ather taking. The �roceeds of any award payment or claim for damages, direct or
<br /> consequential, in cannection with any condemnation or other taking, whether direct or
<br /> indirect, of the Property, or any part thereof, or for conveyances in lieu of the Property,
<br /> or any part thereof, shall be paid to Beneficiary. The foregoing powers of attorney are
<br /> coupled with an interest and are irrevocabie_ Trustor hereby authorizes Beneficiary to
<br /> apply such awards, payments, proceeds or damages relatirtg to candemnation of the
<br /> Property and insurance cavering th� Property, after the deduction of Beneficiary's
<br /> expenses incurred in the coifection of such amounts, at Ber�eficiary's option, subject ta
<br /> the requirements of appiicable law and the pro�isians hereof, to restoration or repair of
<br /> �he Property or to payment of the sums secured by #his Deed o#Trust. B�nefciary shall
<br /> be ur�der no obEigation to question the amount of any compensation, awards, proceeds,
<br /> damages, claims, rights of action, and payments relating to condemnation or ofher
<br /> taking o� the Property or insured casuafty affecting the Property, and may accept the
<br /> same in the amount in which the sam� shall be paid. Trustar shall execute such further
<br /> evidence of assignment of any awards, proceeds damages or cfaims arising i�
<br /> connectian with such condemnation or taking or such insurance as Beneficiary may
<br /> require.
<br /> 16. 5e�erability. If any one or more of the pravisiorts contained fn this Deed
<br /> of Trust shalf fvr any reason be held ta be invalid, illegaf, or unenforceable in any
<br /> respect, such invalidity, illegality, ar unenforceability shalE not affect any o�her pro�isions
<br /> of this Deed of Trust, but this D��d of Tr�st shall be construed as if such in�alid, illegal,
<br /> or unenforceabEe pro�ision had never b�en contained herein or therein, but only to �he
<br /> extent of such invaEidity.
<br /> Page 28 of 31
<br />
|