|
06-09 -1993 DEED OF MUST Page 5
<br />Loan No 7160347 (ConfJnued) 90 -!,A0,1%,29
<br />{t'..
<br />FURTHER ASSURANCES; ATTORNEY-4N-FACT. The following pro)64ons relatir�� t! further assurances and attomer -In -fact are a past of Oft
<br />Heed of Trust.
<br />Further Assurances. At any time, and from time to time, upon request of Lander. Yrustor will make. Execute and deliver, or will cause to be
<br />trade, exeaculted of delfvwed, to Lender or to Lender's designee, and when raqueertted by Lender, causE Id be tiled. recorded, rallied. or
<br />rerecorded, as the case may be. at s:r_h times and !n such offices and places as Lender may dean+ appropttattt. any acrd as such me>rigagas,
<br />d -pds of trust, securtf; deeds. security agreeernrnts, financing statements, continuation staitemantc, Instruments of further assurance, certificates,
<br />and other documents as may, in the We d,olnlon of Lender, be necessary er desirable in order to effectuate, complete. pertaeN. contlnue, or
<br />preserve (a) t4. obrgatlons of Truster under the Note, t" Deed of Trust, and it* Related Documents, and (b) the Oem and security interests
<br />created by itds Deed of Trust as first and prior Bens on tae Property, whether now owned or tiereaft atsqu W by Trustor. Listless prohibited by
<br />law or agreed to the contrary by Lender in wiling, Trusicr s"N reimburse Lender for all costs and expenses lrlburred In connection with the
<br />matters referre9 to in Ihis paragraph.
<br />Attor",y4ri -Fact_ If Trustor faits ►o do any of the things referred to in the preceding paragraph, Lander rruy do so for and in the name of
<br />Trustor and at Trustor's expense. For such purposes, Truster hereby irrevocably appoints Lendew as Trustoe's aifottwy -in-fact for the purpose
<br />of making, executing, delivering, filing, recording, and doing all ether things as may be riecessatry or deslrabte. In Lender's sole opiNon. to
<br />arcompksh the matters referred to In the preceding paragraph.
<br />FLU PERFORMANCE. 11 Trustor pays all the Indebtedness, incluuding without Bndtation all future advarxvs, when due, and otherwise performs all
<br />the obagattons Imposed upon Truster under this Deed of Trust, Lender shag execute and deliver to Trustee a request for full reconveyarree and shall
<br />eAecule and deliver to Trustor suitable statements of termination of any financing statement on Me evidencing Landers se."trlty interest In the Reds
<br />And the Personal Properly. Any recomveyance fee required by law shell be paid by Trtretor, If permitted by applicable law.
<br />DV�AULT. Each of the following, at the option of Lender, shall constitute sn event of default ("Event of Default") under this Deed of Trust:
<br />Default on Indebtedness. Failure of Trustor to make any payrnant when due on the Indebtedness.
<br />Default on Other Payments. Fallvie of Trustor within the time required by this Decd of Trust to make any payment for taxes or insurance, or
<br />any Ohre, payment rseMiar/ to prevent !Bing of or to effect discharge of any Ban.
<br />Complimcce Default, Failure of Trustor to comply with any other term, obligation, covenant or condition contained In this Dead of Trust, the
<br />Note of in any of the Flelatel Documents.
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by of on behalf of Truster unoer this Deed of Trust,
<br />the Note or this Related Documents Is taisset cr misleading in any material respect, either now or at the time made or furnished.
<br />Detective Cottaterallzation. This Deed of Trust or any of the Related Documents ceases to be In full force snd effect (hdudtng failure of env
<br />collaiera► docurents to create a valid and perfected security Interest or lien) at any tune and for Any resson.
<br />Death or insolvrncy. The death of Truster, the Insolvency of Trustor, the appointment of a receiver for any part of Truslor's proper,,/, „my
<br />assgnman! for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or
<br />insolvency !aws by or against Trustor. ,
<br />F'ome•closure, Forfelture, etc. Commencement of foreclosure or foiadure proeeedfngs, whether by judicial proceeding, self -help, repossession
<br />or any other method, by any creditor of Trustor or by any governmental agency against any of the Property. However, this subsoctfan shalt not
<br />; apply in the avant of a good faith dtspule by Trustor as to tha validity or reasonableness of the claim which Is the basis of the foreclosure or
<br />forfeiture proceeding, provided that Trustor gives Lender written notice of such eiaim and furnishes reserves or a surety bond for the claim
<br />satisfactory !o Lender.
<br />Vreech of Other Agreement, Any breech by Trustor under the terms of any oihmer agreement between Trustot and Lender that !s not remediod
<br />wilh,n any grnco rerlod provided thterpin, including without limitation any agreement coneefning any Indetbtodness or other obligation of Truster
<br />!o L.endt!r, whWher toning now or later.
<br />i.vents Affnt!ng Guarantor. Any of the precoding events occurs with respect to any Guarantor of any -if the indebtedness or any Guamrifor
<br />owe, cr bi?ro nos �n Crnpelenl, or ravokos Cr disputes the validity of, or liability under, Anil Gunranty of the Indebtedness. Lender, at its option.
<br />may, but sheill not bri required to, permit the Guarantor's estate to assume unconditionally the obffgntlons arssing under the guaranty in a
<br />rrrar^ nor sallt;fncfory 1:, Lond;!r, and, In dolmg so, corn the Event of Default.
<br />inseet.erlty. Londnr in good faith deems tixnlf insecure.
<br />Ritihi try Cure. If such a failure is curable and it Try +tor has not been given a notice of a breach of the same provision of this Deed of Trust
<br />wllhin ;his pr,gcndino tevalve (121 months, It may be cured (and no Event of Default win have occurred) If Truster, after Lender sands -written
<br />nofi,,n rt(amcandng cure of such failure; (a) cures the fnifure within ten (10) days: or (b) M the cure repukes more than tan (10) days, Immediately
<br />intl!Ates 01,p4t strfficserit to cure the failure and thereafter Continue% and completes all reasonable and necessary steps suf lent to p+'oduce
<br />cnmptiaric,a as soon as reasonably practical.
<br />RiGHTS ANO REMEDIES ON Df$FAULT. Upon the occurrence of any Event of Dehuft and At any time thereafter. Trustee or Lander, at Its option,
<br />may iniwciye any one or more of the following rights and remnndMR, In addition to any other rights or remedies provided by low:
<br />Acceferalton upon Default, Additional Remedies. If any event of default occurs as per the terms of the Note seeeurnd hereby, Lender may
<br />deeC!aro all .ndeblecine•,s wurod by this peed of Trust to be due and payable and the same shall thereupon become due and payable without
<br />+ny pffeneentmoint, demand, protest of notice of any kind. Thereafter. Lender may.
<br />Wi in persnn or by agent, with or without bringing any action or proceeding, CX by a Waiver appointed by a court and without
<br />r%, ,ard to the ratt ^nuncy of Its sercirrity, enter upon and take posse .sun of the Property, or any part thereof, In Its own name W In the mane
<br />of ru;tve, and do any hZllt Wri4Ch It dooms ntx;oslary or desk, titer to preserve the value, marketability or rentability of the Property, or part
<br />G! tlx? r'rc*erty or Inte r"I in the i- , -erty; incroa9p the income rrorn the Property or protect the security of the Property; A ^d, with or without
<br />taking Possession of the Prolmrty, sup .rr ^r othuwlye collect the rants, Issues and protlts of the Propoity, including those past duo and
<br />onpwd. and apply thm same. Irma, -osts and of operation and eoWtion, Including attorneys' filled. to any Indebtedness saetwad
<br />by lhv, Dood of 'rrust, 0 in such order as Lander may dekw rr!ne. The entering upon and taking poflw%lon of the Property, the coRecnon
<br />cf si.a;h -rants, laturfs *no oroflt *, and the Appitraflon Ihwoof shag me, Clare or waive► tiny default or nolt -e of twolu t tinder thk Deed of Toed
<br />,Ariy Act cjgrus Iii rrrupru10% t(i ;uch eofaullt or ptirsurint to sWr.ii rnticee of dofatAt; AM0. notwithalanding the (ont1ntmtxo in
<br />poA. ".n r�.lon of thee f'ropgerty or tho collodion, rocaipt and nppller Lion of rents, hi uos or profits, Trutloo of t.endar shad be nntitlnd to
<br />04x45rf-Jw awry;,/ right provided t,,r in thus Note or this RMaled tocuments or by taw upon the or'curreenea of any even# of default, Including the,
<br />r;�;tlt tta eexerCl;'rr the nowor of sm;g;
<br />
|