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11. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shail immediately provide Lender with written notice of any actuai or
<br /> threatened action,suit,or other proceeding affecling ihe Property. Grantor hereby appoints Lender as its ariorney-in-fact to commence,intervene in,and
<br /> defend such actions,suits,or other legal proceedings and to compromise o�settle any claim or controversy pertaining thereto. Lender shail not be liable to
<br /> Grantor for any action,error,mistake,omission or delay pertaining to the actions described in ihis paragraph or any damages resulting iherefrom. Nothing�
<br /> contained herein will prevent Lender from taking the actions described in this paragraph in its own name. �
<br /> 12. INDEMNIFICATION. Lender shall not assume or be responsible for the performance of any of Grantor's obligations with respect to the Propeny under �
<br /> any circutnstances. Grantor shall irrxnediately provide Lender with wrftten notice of and indemnify and hold Lender and its shareholders,directors,officers, �
<br /> employees and agents harmless from all claims, damages, liabilities (Including attomeys' fees and legal expenses), causes of action, actions, suits and
<br /> olher legal proceedings(currx�latively"Claims")pertaining to ihe Property(including,but not lirrgted to,those involving Hazardaus Materials). Grantor,upon �
<br /> ihe request of Lender,shall hire legal counsel to defend Lender from such Claims,and pay ihe attomeys'fees,legal expenses and other costs incurred in �
<br /> connection therewith. In the alternative, Lender shall be entitled to employ its own legal counsel to defend such Claims at Grantor's cost. Grantor's ,�
<br /> obligation to indemnify Lender under this paragraph shall survive the term(nation,release or foreclosure of this Deed of Trust. �
<br /> 13. TAXES AND ASSESSMENTS. Grantor shall pay all taxes and assessments relating to Property when due and irrunediately provide Lender evidence N
<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 insurance
<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 ihe Property. In the event of default,Lender shall have the right,at its sole option,to apply the funds so held 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 /> 14. INSPECTION OF PROPERTY,BOOKS, RECOROS AND REPORTS. Grantor shall allow Lender or its agents to examine and inspect the Properly
<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 assistance
<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 /> complete in all respects. Grantor shall note the existence of Lender's beneficial interest(n its books and records pertalning to the Property. Additionally,
<br /> Grantor shall report,in a form satisfactory to Lender,such information 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. All
<br /> infomiation fumished by Grantor to Lender shall be irue,accurate and complete in all respecis,and signed by Grantor ff Lender requests.
<br /> 1�. ESTOPPEL CERTIFICATES. Within ten(10)days after any request by Lender,Grantor shall deliver to Lender,or any intended transferee of Lender's
<br /> ri�hts with respecl 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 wfth respect to the Obligations and,if so,the nature of such claims,defenses,set-offs or
<br /> counterclaims. Grantor will be conclusively bound by any representation that Lender may make to the intended transferee with respect to these matlers in
<br /> the event ihat Grarnor fails to provide the requested statement in a timely manner.
<br /> 16. DEFAULT. Granlor shall be in default under this Deed of Trust and the Trustee's power shall become operative in the event that Grantor,Borrower 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 breaches ariy warranty or covenant to Lender contained in ihis Deed of Trust or any other present or future
<br /> agreement;
<br /> (c) desiroys,loses or damages the Property in any material respect or subjects the Property to seizure,confiscation,or condemnation;
<br /> (d) seeks to revoke,terminate or otherwise lirrrit its liability under any guaranty to Lender;
<br /> (e) dies, becomes legally incompetent, is dissolved or terminated, becomes insolvent, makes an assignment for the benefit of creditors, faits to pay
<br /> debts as they become due,files a petition under the federal bankruptcy laws,has an involuntary petition in bankrupicy filed in which Grantor, Borrower
<br /> or any guarantor is named,or has property taken under any writ or process of court;
<br /> (f) allows goods to be used,iransported 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 Obligation 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 faith,for any reason,believes
<br /> that the prospect of payment or performance is impaired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a default under this Deed of Trust, Lender shall be entitled to exercise one or more of the foliowing
<br /> remedies without notice or demand(except as required by law):
<br /> (a) to declare the Obligations immediately due and payable in full;
<br /> (b) to collect the outstanding Obiigations with or without resorting to judicial process;
<br /> (c) to require Grantor to deliver and make available to Lender any personal property or Chariels constituting the Property at a place reasonably
<br /> convenient to Grantor and Lender;
<br /> (d) to enter upon and take possession of the Property wiihout applying for or obtaining the appointment of a receiver and, at Lender's option, to
<br /> appoint a receiver without bond, without first bringing suit on ihe Obligations and without othervvise meeting any statutory conditions regarding
<br /> receivers,it being intended that Lender shall have this contractual right to appoint a receiver;
<br /> (e) to employ 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 rents,incomes,issues and profits of the Property and apply the same,after payment of all necessary charges and expenses,on account of
<br /> the Obligations;
<br /> (f) 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 defauft other than
<br /> payment of interest or principal on the Obligations;
<br /> (g) to foreclose this Deed of Trust judicially or nonjudicially and to direct ihe sale of the property through exercise of the power of sale as referenced in
<br /> paragraph 20 hereof in acccordance with applicabie law;
<br /> (h) to set-off Grantor's Obiigations against any amounts owed Grantor by Lender including, but not limited to, monies, instruments, and deposit
<br /> accounts maintained with Lender or any currently existing or future affiliate of Lender;and
<br /> (i)to exercise all other rights available to Lender under any other written agreement or applicable law.
<br /> Lender's rights are cumulative and may be exercised together, separately, and in any order. In the event that Lender institutes an action seeking ihe
<br /> recovery of any of the Property by way of a prejudgment remedy in an action against Granlor, 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 exercising 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 payment of the Obligations secured hereby,third,to the payment of junior
<br /> trust deeds,mortgages,or other lienholders,and ihe balance,if any,to ihe person or,persons legally entitled thereto. The property or any part ihereof may
<br /> be sold in one parcel,or in such parcels,manner or order as Lender in hs sole discretion may elect,and one or more exercises of the power herein granted
<br /> shall not extinguish or exhaust the power unless the entire properly is soid or the obligations are paid in full.
<br /> 18. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to sell Grantor's interest in the Property by exercise of ihe power 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 this Deed of Trust. Trustee shall,only 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 default and afler 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,either as whole or in separate lots or parcels or items as Lender shall deem
<br /> expedient,and in such order as it may determine,at public auction to the highest bidder for cash in lawiul money of the United States payable at the time of
<br /> sale, or as otherwise may then be required by law. Trustee shall deliver to such purchaser or purchasers ihereof its good and sufficient deed or deeds
<br /> conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any mariers or facts shall be
<br /> conclusive proof of the truthfulness thereof. Any person,including,without limitation,Grantor,Trustee or Lender,may purchase at such sale. Trustee may
<br /> in ihe manner provided by law postpone sale of all or any portion of ihe Property.
<br /> 1y. RE�UEST FOR NOTICES: Grantor requests that a copy of any notice of defaull and a copy of any notice of sale hereunder be mailed to each person
<br /> wt�o is a party hereto at the address of such person set forih herein at the same time and in the same manner required as though a separate request ihereof
<br /> tiad been filed by each such person.
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