|
DEED OF TRUS�
<br />Loan No: 10�1247���"� � ►a ` ` (Contlnued) � 0 � � Q � � � � Page 6
<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 may be, at such times and in such offices
<br />and places as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security
<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 preseroe (1) Borrower's and Trustor's obligations under the Note, this Deed of Trust, and
<br />the Related Documents, and (2) the liens and security interests created by this Deed of Trust as first and prior
<br />liens on the Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender
<br />agrees to the contrary in writing, Trustor shall reimburse Lender for all costs and expenses incurred in connection
<br />with the matters referred to in this paragraph.
<br />Attorney-in-Fact. If Trustor fails to do any of the things referred to in the preceding paragreph, 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 ali
<br />other things as may be necessary or desirable, in Lender's sole opinion, to accomplish the matters referred to in
<br />the preceding peragraph.
<br />FULL PERFORMANCE. If Borrower and Trustor pay all the Indebtedness when due, and Trustor otherwise performs all
<br />the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for
<br />full reconveyance and shall execute and deliver to Trustor suitable statements of termination ot any financing statement
<br />on file evidencing Lender's security interest in tha Rents and the Personal Property. Any reconveyance fee required by
<br />law shall be paid by Trustor, if permitted by applicable law.
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed
<br />of Trust:
<br />Payment Default. Borrowar fails to make any payment when due under the Indebtedness.
<br />Other Defaults. Borrower or Trustor fails to comply with or to perform any other term, obiigation, covenant or
<br />condition contained in this Deed of Trust or in any of the Related Documents or to comply with or to perform any
<br />term, obligation, covenant or condition contained in any other agreement between Lender and Borrower or Trustor.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this
<br />Deed of Trust, the Note or in any of the Related Documents.
<br />Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment
<br />for taxes or insurence, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Trustor
<br />or on Borrower's or Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in
<br />any material respect, either now or at the time made or furnished or becomes false or misleading at any time
<br />thereafter.
<br />Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and
<br />effect (including failure of any collateral document to create a valid and perFected security interest or lien) at any
<br />time and for any reason.
<br />Insolvency. The dissolution or termination of Borrower's or Trustor's existence as a going business, the insolvency
<br />of Borrower or Trustor, the appointment of a receiver for any part of Borrower's or Trustor's property, any
<br />assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding
<br />under any bankruptcy or insolvency laws by or against Borrower or Trustor.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br />proceeding, self-help, repossession or any other method, by any creditor of Borrower or Trustor or by any
<br />governmental agency against any property securing the Indebtedness. This includes a garnishment of any of
<br />Borrower's or Trustor's accounts, including deposit accounts, with Lender. However, this Event of Default shall
<br />not apply if there is a good faith dispute by Borrower or Trustor as to the validity or reasonableness of the claim
<br />which is the basis of the creditor or forfeiture proceeding and if Borrower or Trustor gives Lender written notice of
<br />the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture
<br />proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the
<br />dispute.
<br />Breach of Other Agreement. Any breach by Borrower or Trustor under the terms of any other agreement between
<br />Borrower or Trustor and Lender that is not remadied within any grace period provided therein, including without
<br />limitation any agreement concerning any indebtedness or other obligation of Borrower or Trustor to Lender,
<br />whether existing now or later.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br />or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party
<br />dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br />Indebtedness.
<br />Adverse Change. A material adverse change occurs in Borrower's or Trustor's financiel condition, or Lender
<br />
|