|
201�0945�
<br />� ' DEED OF TRUST
<br />Loan No: 101246794 (Continued)
<br />attorney-in-fact ere a part of this Deed of Trust:
<br />Page 5
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, execute and
<br />deliver, or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by
<br />Lender, cause to be filed, recorded, refiled, or rerecorded, as the case mey be, at such times and in such offices
<br />and places as Lender mey deem appropriate, any and all such mortgages, deeds of trust, security deeds, securfty
<br />agreements, financing statements, continuation statements, instruments of further assurance, certificates, and
<br />other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete,
<br />perfect, continue, or preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Related
<br />Documents, and (2) the liens and security interests created by this Deed of Trust as first and prior liens on the
<br />Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the
<br />contrary in writing, Trustor shall reimburse Lender for all costs and expenses incurred in connection with the
<br />matters referred to in this paragraph.
<br />Attorney-in-Fact. If Trustor fails to do any of the things referred to in the preceding paragraph, Lender may do so
<br />for and in the name of Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints
<br />Lender as Trustor's,attorney-in-fact for the purpose of making, executing, delivering, filing, recording, and doing all
<br />other things as may be necessary or desireble, in Lender's sote opinion, to accomplish the matters referred to in
<br />the preceding paragraph.
<br />FULL PERFORMANCE. If Trustor pays ell the Indebtedness when due, and otherwise performs all the obligations
<br />imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full
<br />reconveyance and shall execute and deliver to Trustor suiteble statements of termination of any financing statement on
<br />file evidencing Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law
<br />shall be paid by Trustor, if permitted by applicable law.
<br />DEFAULT. At Lender's option, Trustor will be in default under this Deed of Trust if any of the following happen:
<br />Fraud or Material Misrepresentation. Trustor commits fraud or material misrepresentation in connection with the
<br />terms of the Note.
<br />Payment Defeult. Trustor fails to meet the repayment terms of the Note for any outstanding balance.
<br />Other Defeults. Trustor's act or failure to act adversely affects Lender's security interest in the Property, or any
<br />right of Lender's in such security.
<br />Right to Cure. If any default, other than a default in payment is curable and if Trustor has not been given a notice
<br />of a breach of the same provision of this Deed of Trust within the preceding twelve (12) months, it mey be cured if
<br />Trustor, after Lender sends written notice to Trustor demanding cure of such default: (1) cures the default within
<br />ten (10) days; or (2) if the cure requires more than ten (10) days, immediately initietes steps which Lender deems
<br />in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable
<br />and necessary steps sufficient to produce compliance as soon as reasonably practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter,
<br />Trustee or Lender may exercise any one or more of the following rights and remedies:
<br />Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Note
<br />secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and
<br />the same shall thereupon become due and payable without any presentment, demand, protest or notice of any
<br />kind. Thereafter, Lender may:
<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver
<br />appointed by a court and without regard to the adequacy of its security, enter upon and take possession
<br />of the Property, or any part thereof, in its own name or in the name of Trustee, and do any acts which it
<br />deems necessery or desirable to preserve the value, marketability or rentability of the Property, or part of
<br />the Property or interest in the Property; increase the income from the Property or protect the security of
<br />the Property; and, with or without taking possession af the Property, sue for or otherwise collect the
<br />rents, issues and profits of the Property, including those past due and unpaid, and apply the same, less
<br />costs and expenses of operation end collection attorneys' fees, to any indebtedness secured by this Deed
<br />of Trust, all in such order as Lender may determine. The entering upon and taking possession of the
<br />Property, the collection of such rents, issues and profits, and the application thereof shall not cure or
<br />waive any default or notice of default under this Deed of Trust or invalidate any act done in response to
<br />such defamlt or pursuant to such notice of default; and, notwithstanding the continuance in possession of
<br />the Property or the collection, receipt and applicetion of rents, issues or profits, Trustee or Lender shall
<br />be entitled to exercise every right provided for in the Note or the Related Documents or by law upon the
<br />occurrence of any avent of default, including the right to exercise the power of sale;
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically
<br />enforce any of the covenants hereof; and
<br />(c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default
<br />and election to cause Trustor's interest in the Property to be sold, which notice Trustee shall cause to be
<br />duly filed for record in the appropriate offices of the County in which the Property is located; and
<br />
|