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<br /> 13. 4.ENDER'S RIGHT TO COMMENCE OR DEFEND L�Q71L ACTIONS. Grantor shali imnediately provide Lender with written notice of any acw�:l or
<br /> threatened actio�s,suft,or other proceeding affecting the Pr.op�rty. Grantor hereby appoirrts Lender as its attomey-in-fact to corrunence,intervene in, and
<br /> defend such actions,suit�"or other legal proceedings and to`Gompromise or settle any claim or controyersy pertaining thereto. Lender shail not be li,abl4 to
<br /> Grantof for any action,eROr,mistake,omission or delay pe�t�Ining to the actlons descrfbed in this paragraph or any damages resufting therefrom �atl�in�
<br /> contained herein will p►event Lender from taking the actions described in this paragraph in its own name.
<br /> 14. INDEMNIFICATION. Lender shall not assume or be responsible for the performance of any of Grantor's obligations with respect to the Proporty under
<br /> any circumstances. Grantor shall immediately provide Lend�r,'wCth written notice of and inderrmify and hold l.ender and its shareholders,directors,offic ers,
<br /> employees and agents harmless from all claims, damages,liabilities(including attomeys'fees and legal expenses), causes of action, actions, suits and
<br /> other legal proceedings(cumulatively"Claims")pertaining to the Property(induding,but not limited to,those involving Hazardous Materials). Grantor,u pon
<br /> the request of Lender,shall hire legal counsel to defend Lender from such Claims,and pay the attomeys'fees,legal expenses and other costs incurred i�i
<br /> connection therewith. In the altemative, Lender shall be eriiitled to employ its own legal counsel to defend such Claims at Grarrtor's cost. Gran�or's
<br /> obtlgation to inderrnify Lender under this paragraph shall survive the termination;release or foredosure of this Deed of Trust.
<br /> 15. TAXES AND ASSESSMENTS. Grantor shall pay all taxes and assessmeMs relating to Property when due and irrxr�ediately provide Lender evid��nce �
<br /> of payment of same. Upon the request of Lender, Grantor shali deposit with Lender each month one-twelfth (1/12) of the estimated annual insur<�nce
<br /> premium,taxes and assessments pertaining to the Property. So long as there is no default,these amounts shall be applied to the payment of taxes, �
<br /> assessments and insurance as required on the Property. In the everrt of defauft,Lender shail have the rigM,at its sole option,to apply the funds so he:d to �
<br /> pay any taxes or against the Obligations. Any funds applied may,at Lender's option,be applied in reverse order of the due date thereof.
<br /> 16. INSPECTION OF PROPERTY,BOOK3,RECORDS AND REPORTS. Grantor shall allow Lender or its agents to examine and inspect the P�o�;erty �
<br /> and examine,inspect and make copies of Grantor's books and records penaining to the Property from time to time. Grantor shall provide any assist<<ncs W
<br /> required by Lender for these purposes. All of the signatures and information contained in Grarnor's books and records shall be genuine,true,accurs�te and �
<br /> complete in all respects. Grantor shall noie ihe existence of Lender's benefiaal irrterest in its books and records perlaining to the Property. Addi1 onally,
<br /> Grantor shall report,in a form satisfactory to Lender,such information as Lender may request regarding Grantor's finandal condition or the Propert��. The �i
<br /> infomiation shall be for such periods,shall reflect Grantor's records at such time,and shall be rendered with such frequency as Lender may designate Ail �
<br /> information fumished by Grantor to Lender shall be true,aaxuate and complete in all respects,and signed by Grantor if Lender requests.
<br /> 17. ESTOPPEL CERTIFICATES. Within ten(10)days after any request by Lender,Grantor shall deliver to Lender,or any iritended transferee of Lenc'er's
<br /> rigMs with respect to the Obligations, a signed and acknowledged statement specifying(a)the outstanding balance on the Obligations; and(b)whethEr
<br /> GraMor possesses any daims,defenses,set-offs or counterclaims with respect to the Obligations and,if so,the nature of such claims,defenses,set�ofl s cr
<br /> counterclaims. GraMor will be condusively bound by any representation that Lender may make to ihe intended transferee wfth respect to these ma�tters i�
<br /> the event that Grantor fails to provide the requested statement in a timely manner.
<br /> 18. DEFAULT. Grantor shall be in default under this Deed of Trust and the Trustee's power shall become operative in the event that Grantor,Borrc�wE,r or
<br /> any guarantor of the Obligations:
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to perform any Obligation or Lxeaches any warraMy or covenant to Lender contained in this Deed of Trust or any other present or fu:uro
<br /> agreement;
<br /> (c) destroys,loses or damages the Property in any material respect or subjects the PropeAy to seizure,confiscation,or condemnation;
<br /> (d) seeks to revoke,terminate or otherwise limft fts liabilily under any guaranty to Lender,
<br /> (ej dies,becomes legally incompetent, is dissolved or'terminated, becomes insolvent, rriakes an assignment for the bene�t of creditors, fails to pay
<br /> debts as they become due,files a petition under the federa!bankruptcy laws,has an involuntary petition in bankruptcy filed in which Grantor,Borrcwer
<br /> or any guarantor is named,or has property taken undeC,�writ or process of court;
<br /> (� allows goods to be used,transported or stored on tha roperty,the possession,transportation,or use of which,is illegal;
<br /> (g) allows any party other than Grantor or Borrower to assume or undertake any Obligation without the written consent of Lender;or
<br /> (h) causes Lender to deem itself insecure due to a sigai�cant dedine in the value of the Property;or if Lender,in good faith,for any reason,b�alie ves
<br /> that the prospect of payment or perfomiance is irTpaired.;
<br /> 19. RIGHTS OF LENDER ON DEFAULT. If there is a defa h under this Deed of Trust,Lender shall be emitled to exerase one or more of the foliov�ing
<br /> remedies without notice or demand(except as required by I�inr�:
<br /> (a) to declare the Obligations immediately due and paya4�e in full;
<br /> (b) to collect the outstanding Obligations with or withou(resorting to judiaal process;
<br /> (c) to require Grantor to deliver and make available to Lender any personai property or Chattels constituting the Property at a place reas�m�ably
<br /> convenient to Grantor and Lender,
<br /> (d) to enter upon and take possession of the Property�without applying for or obtaining the appointment of a receiver and, at Lender's opt:on, to
<br /> appoirn a receiver without bond, without first bringing suit on the ObNgations and without otherwise meeting any statutory conditions regarciing
<br /> receivers,it being ir�ended that Lender shall have thls dontractual right to appoint a receiver;
<br /> (e) to employ a managing agern of the Property and let the same,either in Trustee's own name,in the name of Lender or in the name of Grantor, 3nd
<br /> receive the rents,incomes,issues and profits of the Property and apply the same,after payment of ail necessary charges and expenses,on accaur t of
<br /> the Obligations; .
<br /> (� to pay any sums in any form or manner deemed expeclient by Lender to protect the seourity of this Deed of Trust or to cure any default other t ian
<br /> payment of interesi or principal on the Obligations; ,
<br /> (g) to foredose this Deed of Trust judiaally or nonjudicially and to direct the sale of the property through exercise of the power of sale as reference�in
<br /> paragraph 20 hereof in acxcordance with applicable lav�, �;
<br /> (h) to set-off Grantor's Obligations against any amounts owed Grantor by Lender including, but not limhed to, monies, instruments, and c�posit
<br /> accourrts maintained with Lender or any currerrtly existina or future affiliate of Lender;and .
<br /> (i)to exercise all other rights available to Lender under anX other written agreement or applicable law.
<br /> Lender's rights aze curTwlative and may be exercised toge#her, separately, and in any order. in the event that Lender institutes an action seeking th�3
<br /> recovery of any of the Property by way of a prejudgment;remedy in an action against Grarnor, Grantor waives the postirlg of any bond which rr ight
<br /> othervvise be required. Lender or Lender's designee may purchase ihe Property at any sale. Proceeds of any Trustee's sale hereunder shali be apF lied
<br /> first,to the costs and expenses of exercising the power of sale and of the sale, including the payment of the Trustee's fees actually incurred and nct to
<br /> exceed the amount which may be provided for in this Deed o�Trust,second,to payment of.the Obligations secured hereby,third,to the payment of ju iior
<br /> trust deeds,mortgages,or other lienholders,and the balance;if any;to the person or persons legally entitled thereto. The property or any part thereof i rray
<br /> be sold in one parcel,or in such parcels,manner or order as Lender in its sole discretion may elect,and one or more exercises of the power herein grai�ted
<br /> shall not extinguish or exhaust the power unless the entire property is sold or the obligaiions are paid in full.
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<br /> 20. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to sell Grantor's interest in the Property by exerase of the povre•ot
<br /> sale herein contained,Lender shall notify Tn�stee in the mannar then required 6y law.
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<br /> Upon receipt of such notfce of Lender and at the direction of Lender,Trustee shall cause to be recorded,published and delivered such notices of clef;3ult
<br /> and notices of sale as may then be required by law and by th�s;Qeed of Trust. Trustee shall,only at the direction of Lender and withoui demand on Gran or
<br /> after such time as may then be required by law and after recocdation of such notice of default and after notice of sale having been given as required�;�I,iw.
<br /> sell the Property at the time and place of sale flxed by it in stjc,h notice of sale,either as whole or in separate lots or parcels or items as Lender shall de2m
<br /> expediern,and in such order as it may determine,at public auc�ion to the highest bidder for cash in lawful money of the United States payable at the t:.��o+
<br /> sale,or as otherwise may then be required by law. Truste�;,�hall deliver to such purchaser or purchasers thereof ks good and sufficient deed or :ie�:d:.
<br /> conveying the property so sold, but without any covenant qr warramy, express or implied. The recitals in such deed of any matters or facts shall be
<br /> condusive proof of the truthfulness thereof. My person,including,without limitation,Grantor,Trustee or Lender,may purchase at such sale. Truste,a r�ay
<br /> in the manner provided by law postpone sale of all or any portion of the Property.
<br /> 21. RE�UEST FOR NOTICES: Grantor requests that a copy of any notice of default and a copy of any notice of sale hereunder be mailed to each person
<br /> who is a party hereto at the address of such person set forth herein at the same time and in the same manner required as though a separate request thereof
<br /> had been filed by each such person. ,,
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<br /> NEDOTC Rev.297
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