RecDoc 2012-112941 - Laserfiche WebLink

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authorized to enter upon said property for such purposes; appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of BENEFICIARY or TRUSTEE; pay, purchase, contest or compromise any encumbrance, charge, or lien which in the judgment of either appears to be prior or superior hereto; and, in exercising any such powers, pay necessary and reasonable expenses, employ counsel and pay his or her reasonable fees. 5. To pay immediately and without demand all sums so expended by BENEFICIARY or TRUSTEE, with interest from date, of expenditure at the amount allowed by law in effect at the date hereof, and to pay for any statement provided for by law in effect at the date hereof regarding the obligation secured hereby, any amount demanded by the BENEFICIARY not to exceed the maximum allowed by law at the time when said statement is demanded. B. It is mutually agreed: 1. That by accepting payment of any sum secured hereby after its due date, BENEFICIARY does not waive his or her right either to require prompt payment when due of all other sums so secured or to declare default for failure so to pay, 2. That upon written request of beneficiary stating that all sums secured hereby have been paid, and upon surrender of this Deed to TRUSTEE for cancellation and retention or other disposition as TRUSTEE in its sole discretion may choose and upon payment of its fees, TRUSTEE shall reconvey, without warranty, the property then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The Grantee in such reconveyance may be described as "the person or persons legally entitled thereto". 3. That as additional security, TRUSTOR hereby gives to and confers upon BENEFICIARY the right, power and authority, during the continuance of these Trusts, to collect the rents, issues and profits of said property, reserving unto TRUSTOR the right, prior to any default by TRUSTOR in payment of any indebtedness secured hereby or in performance of any agreement hereunder, to collect and retain such rents, issues and profits as they become due and payable. Upon any such default, BENEFICIARY may at any time without notice, either in person, by agent, or by a receiver to be appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and take possession of said property or any part thereof, in his or her own name sue for or otherwise collect such rents, issues, and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable ATTY/AGR/2012.085/FEE DEFERRAL DEED OF 7RUST 201 MARSHALL REV:07-11-12 VR Page 3 of 6