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<br /> DEED OE "~'ALIST Page 4 {
<br /> 07-15-1997 l a~7••
<br /> Loan No 516146 (Continued)
<br /> Trustor.
<br /> Subsequent Taxes. if any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shah have the II'
<br /> same effect as an Evoni of Default (rs defined below), and Lander may wwrdse any or all of its availaable remedies for an Even( of Default as
<br /> provided below unless Tmstor either (a) pays the tax before it becomes e4griquent or (b) contests the tax as provided above In the Taxes and
<br /> Liens section and deposits with Lender cash or a sufficient corporals sta*o)f bond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT; FINANCING STATEMENTS. The tosowinq provisions relating to this Deed of Trust as a searity egreamenl we a part of i
<br /> this Deed of Trust.
<br /> Security Agreement. This Instrument shag constitute a security agreement to the extent any of it* Properw conatitules fixtures Of other
<br /> personal propar';, and Lender shah have all of the rights of a secured party under the Uniform Commercial Cadet as amended from time to
<br /> time.
<br /> Security Interest. Upon roquast by Lender, Trustor shag execute financing statements and take whatever other action is requested by Lender
<br /> to perfect and continue Lender's sscurtty Interest In the Rents and Personal Property. In addition to recording INS Deed of Trust In the real
<br /> property records, Lender may, at any time and without further authorization from Trustor, Me Incurred executed counterparts, coplQ& In perfecting or continuing ~reproductions this ~
<br /> this Deed of "Crust as a financing statement. Trustor shell reimburse Lender for all expenses Interest. Upon default, Trustor shall assemble the Personal Property in a manner and at a place reasons* convoNeM to Trustor and Lander
<br /> and make It available to under within three (3) days after rac*t of written demand from Lander.
<br /> L1dre"7ea. The malling addresses o(Tnsstor (debtor) and Lender (secured party), from which information concerning the soaurhy Interest
<br /> granted by this Deed of Trust may be obtained (each as required by the. Uniform Commercial Coda), are as stated on the first page of this Dead
<br /> of Trust.
<br /> FURTHER ASSUfiANCES; ATTORNEY4 -(FACT. The Wowing provisions relating to further araurances and attarnay-in-fad am a part of this
<br /> Deed of Trust.
<br /> Further Assurances. At any 11", and from time to time, upon request of Lender. Truster wN male. execute and daMvar, or will cause to be
<br /> made, executed or delivered, to Lander or to Lender's designee, and when requested by Lender, cause to be filed, raoarded, refiled, or
<br /> rerecorded, as the case may be. at such times and In such offices and places as Lender may doom approprlata, any and all such mortgages,
<br /> deeds of trust security deeds, security agreements, financing statements, continuation statements, Instruments of further assurance, certificates,
<br /> and other documents as may, in the sole opinion of Lander, be necessary or daskable in order to eMecMuste, complete, perfect confinuxa, at
<br /> preserve (a) the obligations of Truster under the Note, this Deed of Trust and the Related Documents, and (b) the Mans and security Interests
<br /> created by this Deed of Trust as rust and prior Fens on the Property, who'her rww owned or hereafter acquired by Tsstor. In mess prohibited
<br /> with the
<br /> law or agreed to the contrary by Lender In writing, Truster shall reimburse Lender for all costs and expenses connection
<br /> matters referred to in this paragraph.
<br /> Attomey-fin-.Fact. If Trustor faits to do any of the things referred to in the preceding paragraph, Lander may do so for and in the name of
<br /> Trustor and at Trustor's expense. For such purposes, Truslor hereby Irrevocably appoints Lander as Truslor's attorney-n-facl for the purpose
<br /> of maKing, executing, delivering. filing, recording, and doing all otter things as may be necessary or desirable, in Lenders sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph.
<br /> FULL he ob qations PERFORMANCE. Imposed upon nTrustor pays all the indebdness. Including without
<br /> under this Deed of Trust LLander shat executeand &Aver f , Trustee v quest or full reco yance and shall
<br /> able lasecurity Interest in the Rents
<br /> execute and deliver to suitable statements of termination of an financIng
<br /> nc~onnveyarlce fee required by law hall be Pgld by Tlruslar,lIf pon hie errtltted evidencing Lander's
<br /> and the Personal Property. .
<br /> DEFAULT. Each of the following, at the option of Lender, slap constitute an event of dofault ('Event of Default' under this Deed of Trust:
<br /> Default on Indebtedness. Failure of Tnustor to make any payment when due on the indebtedness.
<br /> Default on Other Payments. Fa9urs of Truster within the time required by this Deed of Trust to make any payment for taxes or Insuranor, or
<br /> any other payment necessary to prevent Ong of or to effect discharge of any ken.
<br /> Default In Favor of Third Parties. Should Borrower or any Trustor default under any loan, extension of credit, security agreement, purchase or
<br /> sales agreement, or any other agreement, In favor of any other creditor or person that may materially affect any of Borrowers property or
<br /> Borrowers or any Trustors ability to repay the Loans or perform their respective obMgations finder this Daed of Trust or any of the Related
<br /> Documents.
<br /> Compliance Default. Failure of Trustor to compty with any other term, obligation, covenant or condition contained In this Deed of Trust, the
<br /> Nola or in any of the Related Documents.
<br /> False Statements. Any warranty, representation or statement made or furnished to Lander by or on behalf of Trustor under this Deed of Trust,
<br /> the Note or the Related Documents is false or misleading In any material respect, either now or at the time made or furnshed.
<br /> Defective Coltateralization_ This Deed of Trust or any of the Related Documents ceases to be In full force and affect (Including failure of any
<br /> collateral document to create a valid and perfected security interest or Men) at any time cad for any rasson.
<br /> Insolvency. The dissolution or tern-nation of Trustoes existence as a going business, ttya Insolvency of Trustor, the appointment of a rseelver
<br /> for any part of Trustors property, any r ssignment for the benefit of creditors, any type of creditor workout or the commencement of any
<br /> proceeding under any bankruptcy or insotvency !aws by or against Trustor.
<br /> Foreclosure, Forfeiture, etc. Commencement of foreclosure or foriolture proceedings, whether by Judicial proceeding, sell-help, repossession
<br /> or any other msthod, by any creditor of Truster or by any governmental agency against any of the Property. However, this subsection shah not
<br /> faefplture l p roceedof g, a good faith provided that dispute gives Lender written notice of such bclaimand of Vv he zhhas reserves or a surely bond for the claim
<br /> satisfactory to Lender.
<br /> Breach of Other Agreement. Any breach by Truslor under the terms of any other agreement batween Truslor and Lander that is not remedied
<br /> within any grace period provided therein, Including without Imitation any agreement ccrvarning any Indebtedness or other obligation of Trustor
<br /> to Lender, whether exf Ang now or later.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br /> dies or becomes Incompetent, or revokes or disputes the voMdity of, or liability under, any Guaranty of the Indebtedness. Lender, at Its option,
<br /> may, but snag not be required to, parmlt the Guarantors estate to assume unconditionally the obligations arlaing under the guaranty In ■
<br /> manner satisfactory to Lender, and, In doing so, cure the Event of Default.
<br /> Adverse Change. A materiel adverse change occurs In Truslora financial condition, or Lander believes the prospect of payment or
<br /> performance of the Indobledness Is Impaired.
<br /> Insecurity. Lender in good faith deems bell In5acure.
<br /> Right to Cure. If such it tenure Is curable and M Trustor has not been given a notice o: a brooch of the same provision of this Deed of Trust
<br /> within the preceding twelve (1L, months, it may be cured (and no Event of Default will hew nccurnsd) If Truslor, after Lander sands written
<br /> notice demanding cure of such !allure; (a) cures the (allure within A" wn (15) days; or (b) M the curs requires more than fifteen (15) days,
<br /> Immediately Inltlates steps sufficient to cure the tenure and thereafter continues and complef" all roasarable and necessary steps sul cient to
<br /> produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT, Upon the occurrence of any Event of Default and at any time thonsafkw, Trustee or Lender, at Its option.
<br /> may exercise any one or more of the following rights and remedies, In addition to any other rights or remedlbi► provided by law:
<br /> Acceleration upon Default; Additional RernWh . If any event of dofauti occurs as per the terms of the Note secured heroby, Lender may
<br /> declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thermupon beowne due and payable without
<br /> any prosentment, demand, protest or n otloe of any kind. Thereafter. Lander may:
<br /> (a) Either In person or by agent, with or without bringing any action or proceeding, or by a raralver appointed by a court and without
<br /> regard to the adequacy of Its security, enter upon and take possession of the Property, or any part thereof. In ft own name or in the name
<br /> of Trustee, prof do any acts which it deems rv. -usary or deskable to preserve the value, marketability or rentabWty of the Property, or part
<br /> of the Property or interest In the Property; Increase the Income from the Properly or protect the security of the Property; and, with or without
<br /> taking possession of the Property, sue for or otherwise o!tcct 11he rents, Issues and profits of the Property. Inclurfirg those past due and
<br /> unpaid, and apply the same, less costs and expanses of operation and collection. Including afiomeys' fees, to any Indebtedness sacurad
<br /> by this Dead of Trust all in such order as Lander may determine. The entering upon and taking possession of the Properly, the collection
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