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13.•LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall irrxTiediately provide Lender with written notice of any actu�.l or
<br /> threatened aetion,'suit,or other proceeding affecting ihe Property. Grantor hereby appoints Lender as its attomey-in-faet to corrxnence,intervene in,and
<br /> defend such actions,suits,or other legal proceedings and 1o;compromise or settle any claim or controversy pertaining thereto. Lender shall not be liabis to
<br /> Grarnor fpr any action,error,mistake,omission or delay pertaining to the actions described in this paragraph or any damages resulting therefrom. Notl�ing
<br /> contained herein'will prevent Lender from taking the actions described in this paragraph in fts own name.
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<br /> 14. INDEMNIFICATION. Lender shall not assume or be responsible for the performance of any of Grantor's obligations with respect to the Property ur�der
<br /> any circumstances. Grantor shall irm�ediately provide Lendec with written notice of and indemnify and hold Lender and its shareholders,directors,officers,
<br /> employees and agents ham�less f�om ail claims,damages;Jiabilities (including attomeys' fees and legal expenses), causes of action,actions, suits and
<br /> other legal proceedings(cumulatively"C�aims")pertaining to the Property(including,but not limited to,those involving Hazardous Materials). Grantor,�pon
<br /> the request of Lender,shail hire legal counsel to defend Lender from such Claims,and pay the attomeys'fees,legal expenses and other costs incurred in �
<br /> connection therewith. In the altemative, Lender shall be entitied to employ its own legal counsel to defend such Claims at Grantor's cost. Granror's
<br /> obligation to indemnify Lender under this paragraph shall survive ihe termination,release or foreclosure of this Deed of Trust. �
<br /> 15. TAXES AND ASSESSMENTS. Grantor shali pay all taxes and assessmerns relating to Propeny when due and irmiediately provide Lender evidf�nce '
<br /> of payment of same. Upon the request of Lender, Grantor shall 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 amouMs shall be applied to the payment of t�xes, ^
<br /> assessments and insurance as required on the Property. In the event of default,Lender shail have ihe right,at fts sole option,to apply the funds so he;d to `�•'
<br /> pay any taxes or against the Obiigations. Any tunds applied may,at Lender's option,be applied in reverse order of the due date thereof. �
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<br /> 16. INSPECTION OF PROPERTY,BOOKS,RECORDS AND REPORTS. Grantor shall aliow Lender or its agents to examine and inspect the Property �'"j
<br /> and examine,inspect and make copies of Grantor's books and records pertaining to the Property from time to time. Grantor shall provide any assist��nce Q
<br /> required by Lender for these purposes. All of the signatures and information contained in Grantor's books and records shall be genuine,true,accurate and
<br /> cortiplete in all respects. Grantor shall note the existence of Lender's beneficial interest in its books and records pertaining to the Property. Additiorally,
<br /> Grantor shali report,in a form satisfactory to Lender,such inforrr�tion as Lender may request regarding Grantor's financial condition or the Property. The
<br /> information shall be for such periods,shall reflect Grantor's records at such time,and shall be rendered with such frequency as Lender may designate Ali
<br /> information furnished by Grantor to Lender shall be true,accurate and complete in all respects,and signed by GraMor if Lender requests.
<br /> 17. ESTOPPEL CERTIFICATES. Within ten(10)days after any request by Lender,Grantor shall deliver to Lender,or any irrtended transferee of Lenc:er's
<br /> rights with respect to the Obligations, a signed and acknowledged statement specifying(a)the outstanding balance on the Obligations;and(b)whether
<br /> Grantor possesses any claims,defenses,set-offs or counterclaims with respect to the Obiigations and,if so,the nature of such claims,defenses,set-of�s or
<br /> counterclaims. Grantor will be conclusively bound by any representation that Lender may make to the intended transferee with respect to these matte�s in
<br /> the event that Grantor fails to provide the requested statement in a timely manner.
<br /> 18. DEFAULT. Grantor shall be in default under ihis Deed of Trust and the Trustee's power shali become operative in the everrt that Grantor,Borrower or
<br /> any guararrtor of the Obligations:
<br /> (a) faiis to pay any Obligation to Lender when due;
<br /> (b) fails to perform any Obligation or breaches any warranty or covenant to Lender contained in this Deed of Trust or any other present or fuiure
<br /> agreement;
<br /> (c) destroys,loses or damages the Property in any material respect or subjects the Property to seizure,confiscation,or conde�ation;
<br /> (d) seeks to revoke,terminate or otherwise limit its liability under any guaranty to Lender;
<br /> (e) dies,becomes legaily incompetent, is dissolved or'ter�rtinated, becomes insolvent,makes an assignment for the benefrt of creditors, fails to pay
<br /> debts as they become due,files a petftion under the federal bankruptcy laws,has an involuntary petition in baniwptcy filed in which Grantor,Borrewer
<br /> or any guarantor is named,or has propeny taken under any writ or process of court;
<br /> (fl allows goods to be used,transported or stored on the Property,the possession,transportation,or use of which,is illegal;
<br /> (g) allows any party other than Grantor or Borrower to assume or undertake any Ob�igation without the written consent of Lender;or
<br /> (h) causes Lender to deem itself insecure due to a significant decline in the value of the Property;or if Lender,in good faiih,for any reason,believes
<br /> that the prospect of payment or perforrnance is impaired.
<br /> 19. RIGHTS OF LENDER ON DEFAULT. If there is a default under this Deed of Trust, Lender shail be entitled to exercise one or more of the following
<br /> remedies without notice or demand(except as required by law):
<br /> (a) to declare the Obligations irrvnediately due and payable in fuli;
<br /> (b) to coilect the outstanding Obligations with or without resorting to judicial process;
<br /> (c) to require Grantor to deliver and make available io Lender any personal property or Chattels constituti�g the Property at a place reasonably
<br /> convenierrt to Granior and Lender;
<br /> (d) to erner upon and take possession of the Property,without applying for or obtaining the appointment of a receiver and, at Lender's option, to
<br /> appoint a receiver without bond, without first bringing suii on the Obligations and without otherwise meeting any statutory conditions regarding
<br /> receivers,it being intended that Lender shall have this contractual right to appoint a receiver,
<br /> (e) to ernploy a managing agent of the Property and let the same,either in Trustee's own name,in the name of Lender or in the name of Grantor,and
<br /> receive the reMs,incomes,issues and profits of the Property and apply the same,after payment of all necessary charges and expenses,on account of
<br /> the Oblfgations;
<br /> (� to pay any sums in any form or manner deemed expedient by Lender to protect the security of this Deed of Trust or to cure any default other tl�an
<br /> payment of interest or prinapal on the Obligations;
<br /> (g) to foreclose this Deed of Trust judicially or nonjudicially and to direct the sale of the property through exerase of the power of sale as referenced in
<br /> paragraph 20 hereof in acccordance with applicable law; -
<br /> (h) to set-off Grantor's Obligations against any amounts owed Grantor by Lender including, but not limiied to, monies, instruments, and deposit
<br /> accounts maintained with Lender or any currently existing or future affiliate of Lender;and
<br /> (i)to exerase all other rights available to Lender under any other written agreement or applicable law.
<br /> Lender's rights are currwlative and may be exercised together, separately, and in any order. In the evern that Lender institutes an action seeking the
<br /> recovery of any of the Property by way of a prejudgment remedy in an action against Grantor, Grantor waives the posting of any bond which might
<br /> otherwise be required. Lender or Lender's designee may purchase the Property at any sale. Proceeds of any Trustee's sale hereunder shall be applied
<br /> first,to the costs and expenses of ex�rcising the power of sale and of the sale,including the payment of the Trustee's fees actually incurred and not to
<br /> exceed the amount which may be provided for in this Deed of Trust,second,to paymern of the Obligations secured hereby,third,to the payment of junior
<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 may
<br /> be soid in one parcei,or in such parcels,manner or order as Lender in its sole discretion may elect,and one or more exercises of the power herein granted
<br /> shall not eutinguish or exhaust the power unless the entire properry is sold or the obligations are paid in full.
<br /> 20. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to sell Grantor's interest in the Property by exercise of the powe�of
<br /> sale herein contained,Lender shall notify Trustee in the manner then required by law.
<br /> Upon receipt of such notice of Lender and at the direction of Lender,Trustee shall cause to be recorded,published and delivered such notices of default
<br /> and notices of sale as may then be required by law and by ihis Deed of Trust. Trustee shall,oniy at the direction of Lender and without demand on Grantor,
<br /> after such time as may then be required by law and after recordation of such notice of defauit and after notice of sale having been given as required by law,
<br /> sell the Property at the time and place of sale fixed by it in such notice of sale,ehher as whole or in separate lots or parcels or hems as Lender shall deem
<br /> expedient,and in such order as it may determine,at public auction to the highest bidder for cash in lawful money of the United States payable at the time of
<br /> sale,or as othervvise may then be required by law. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds
<br /> conveying the property so sold, but without any covenant or warranty, express or ir�lied. The recitals in such deed of any mariers or facts shall be
<br /> conclusive proof of the tnrihfulness thereof. Any person,including,without limitation,Grantor,Trustee or Lender,may purchase at such sale. Trustee riay
<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 defauli 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. -
<br /> NEDOTC Rev.297 .. „ ,,.
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