|
201109703
<br /> DEED OF TRUST
<br /> Loan No: 810280 (Con$inued) Page 5
<br /> proceeding and if Trustor gives Lender written.notice of the credimr or forfeiture proceeding and deposits with
<br /> Lender monies or a surety bond for the creditor or forfeiture proceeding,in an amount determined by Lender,in iis
<br /> sole discreYion,as being an adequate�reseroe or bond for the dispute, � �
<br /> Breach of Other Agreement. Any breach by Trustor under the terms of a�y other agreement between Trustor and
<br /> Lender that is not remedied within any grace period provided therein,including without limitation any agreement
<br /> concerning any indebtedness or other obligation of Trustorto Lender,.whether existing now orlater.
<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 Inde6tedness or any guarantor, endorser, surety, or accommodation party
<br /> dies or becomes incompetent, or revol<es or disputes the validity of, or liability under, any Guaranty of the
<br /> . Indebtedness..
<br /> Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the
<br /> prospect of payment or performance of the Indebtedness is impaired.
<br /> Insewrity. Lender in good faith believes itself insecure.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs unde�this Deed of TruSt,at any time thereafter,
<br /> T�ustee 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 6y this Deed of Trust to be due and payabie 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 6ringing 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 necessary 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 withouf taking possession of the Property, sue for or otherwise collect the
<br /> rents,issues and profits of the Property,i�cluding those past due and unpaid,and apply the same, less
<br /> costs and expenses of operation and 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 applicatio�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 default or pursuant to such notice of default;and,notwithstanding the continuance in possession of
<br /> the Property or the collection,.receipt and application of rents,issues or profits,Trustee or Lender shall
<br /> be entitied to exercise every right provided for in the Note or the Related Documents or by law upon the
<br /> occurrence of any event 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 /> (c1 Defiver to Trustee a writ[en 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 noti�ce Trustee shall cause to be -
<br /> duly filed for record in the appropriate offices of the Couniy in which the Property is located;and
<br /> (d) With respect to all or any part of the Personai Property, Lender shall have all the rights and remedies
<br /> of a secured party under the Nebresica Uniform Commercial Code.
<br /> Foredosure by Power of Sale. If Lender elects to forecbse by exercise of the Power of Sale herein contained,
<br /> Lender shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts
<br /> and evidence of expenditures made and secured by this Deed of Trust as Trustee may require.
<br /> (a) Upon receipt of such notice from Lender,Trustee shall cause to be recorded,published and delivered
<br /> to TrusYOr such Notice of Default and Notice of Sale as the�required by law and 6y this Deed of Trust..
<br /> Trustee shall, without demand on Trustor, after such time as may then be required by law and after
<br /> recordation of such Notice of Default and after Notice of Sale having been given as required 6y law,seli
<br /> the Proper[y at the time and place of sale Fixed by it in such Notice of Sale, either as a whole, or in .
<br /> separate lots or parcels or items as Trustee shall deem expedient,and in such order as it may determine,
<br /> at public auction to the highest bidder for cash in lawful money di tiie United States payable at the time
<br /> of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or
<br /> deeds wnveying the property so sold, but withoui any covenant or warrenty,express or implied. The
<br /> recitals in such deed of any matters or facYS shall be conclusive proof of the truthfulness thereof. Any
<br /> person,including without limitation Trustor,Trustee,or Lender,may purchase at such sale..
<br /> (b) As may be permitted by law, after deducting afl costs,fees and expenses of Trustee and of this
<br /> Trust,including costs of evidence of title in connection with sale,Trustee shall apply the proceeds of sale
<br /> to payment of (i)all sums expended under the terms of Yhis Deed of Trust or under the terms of the Note
<br /> - not then repaid, including buC not limited to accrued interest and late charges, (ii) all other sums then
<br /> secured here6y,and (iii)the remainder,if any,to the person or persons legally entitled thereto.
<br /> (c) Trustee may in the manner provided by law postpone sale of all or any portion of the Property.
<br /> Remedies Not Exclusive. Trustee and Lender, and each of them, shall be entitled to enforce payment and
<br /> performance of any indebtedness or obligations secured by th[s Deed of Trust and to exercise all rights and powers
<br /> under this Deed of Trust, under the Note, under any of the Related Documents,or under any other agreement or
<br /> any laws now or hereafter in force;notwithstanding,some or all ot such indebtedness and obligations secured by
<br /> this Deed ofi Trust may now or hereafter be otherwise secured,whether by mortgage,deed of trust,pledge,lien, .
<br /> assignment or otherwise. Neither the acceptance of Yhis Deed of Trust nor its enforcement, whether by court
<br /> action or pursaa�t to the power of sale or other powers contained in this Deed of Trust,shall prejudiee or in any
<br /> manner affect Trustee's or Lender's right to reafize upon or enforce any other secur'rty now or hereaftet held by
<br /> Ttustee or Lender,it being agreed that Trustee and Lender,and each of them,shall be entitled to enforce this Deed
<br /> . of Trust and any other security now or hereafter held by Lender or Trustee in such order and manner as they or
<br /> either of them may in their absolute�discretion determine. No remedy conferrad upon or reserved to Trustee or
<br /> Lender,fs intended to be exdusive of any other remedy in this�eed of Trust or by law provided or permitted,6ut
<br /> each shall be cumulative and shall be in addition To every other remedy given in this Deed of Trust or now or
<br /> hereafter existing at law or in equiry or by statute. Every power or remedy given by the Note or any of the Related
<br /> Documents to Trustee or Lender or m which either of them may be otherwise entitled, may be exercised,
<br /> concurtently or independently,from time to time and as ofte�as may be deemed expedient by TrusYee or Lender,
<br /> and either of them may pursue inconsistent remedies, Nothing i.n. this Deed of Trust shall be construed as
<br /> prohibiting Lender from seeking a deficiency judgment against the Trustor to the eMent such action is permitted by
<br /> law. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to
<br /> make expendltures or to take action to perform an obligation of Trus[or under this Deed of Trust,after Trustor's
<br /> failure to perform,shall not affect Lender's right to deciare a default and exercise its remedies.
<br /> Request for Notice. Trustor,on behalf of Trustor and Lender,hereby requests that a copy of any Notice of Default
<br />
|