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<br /> 16. TJ11tE8 ANQ A88E88MENTtR. Or�ntor�hall pay sll t�xn�nd uatsmmt�nlatlnp to ths Prapaty when due end Immediat6ly provlde L�nder ��.n•-• ,
<br /> wid�nc�ot paym�nt at�em�. Upon tha nqunt of Lsnd�r,Orantor Rhtli d�posit wlth Und�r�aCh month onatwslflh(1/�2)of ths eotlmsted�nnual � '' � ;ru r �;�-"
<br /> �-��-.
<br /> Inwr�nc�premlum,t�xu and aawssmmte ptrtalNnp to ths Property. So lonp ee thsre I�t no default,these amounta ehall be epplled to the pnyment ' `��''�� � - �°_��
<br /> ot taxsa,esaeeedisnte end'InnurenCS ae requlied on the Property. In ths svent of dstAUlt,Lender 6hn11 heve the right,et ita sols optlon,to npply ths � ,. �� ��
<br /> }und�io hNd to pay any t�xu or agaln�t th�pbllqetlom. My funde appll�d m�y, at Lender's optlon,be applied In roverse order ot the.due dete
<br /> �"�th�nof. f'.,
<br /> �16. INSPECTION OF PROPERTY, EOWCB,RECOR�B AND REPORTB. Qrantor chsll ellow Under or ite agenta to ex�mlrn and inepect ths
<br /> Prop�rty tnd ax�mins,Inap�ot and m�k�coples of Or�ntorY booke and rocardr psrtalnlne to tha Property lrom time to time. (3rantor shell provide
<br /> �eny�alct�nc�rsqulnq by Lend�r for thesa purpossa. All ot the elpnatum and Inlormation contalned In arantor's booke end rocords ahall bs 'i�`-
<br /> ���p�nuln�,trus, �count� and camplst�In �II r�np�ots. Orentor eh�ll not� ths�xlstmce ol l.snder'n beneflcisl Int�rsat fn Its books and recarde
<br /> ��.�•;_��k
<br /> .�i psrtelning to the Propsrty. AHditlonally,Ornntor ahall report,In e}orm sntlefactory ta Lender, such Informetlon ae Lender may requsst reparding � . -��.�
<br /> � �arentor'e flnenclel condltlon or the Property. The In}ormatlon shell be for auch periode, shall reflect�rantor'3 recorde at such time, and shall be , • ,�
<br /> i rendsred with such frsquenoy ae Lentl�r mey dealpnate. Ail Information}urniehetl by Orantor to Londer ahall be true, accurate and comploto In ull ,
<br /> ros{»ots,and nl n�d b OraMOr if L�nder ro wsh. �s,`+::k:�`:'�'��:�- �
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<br /> � 17. ESTOPPEL CERTIFICATES. Withln ten(10)daye efter any requeat by Lender,Orentor ahall deliver to Lender,or any intended traneteree of ,r,,,;,.ry,.,+,{�.__�
<br /> ,w.,;e+�" �Lendsr's righte with rsapeot to the Obllgatione,a alpned and scknowledped statsment specifyin�(a)the outatanding balance on the Obllgetlons;and , ,�� Y . �x�L-.
<br /> ,,�; Q�(b)whsther Orentor poaaesaae nny clalms,d�feneea,setoHe or counterclalma with roepeot to the Obllgatlons and,if so,the nature of euah claims, ' n ''�+��a.�.��°`i"
<br /> ��:,��_ -
<br /> �� ' d�fenaaa,setoffe or countercialma. arnntor wlli be conclueivaly bound by any representation that Lender mey make to the Intended transferee with ;T;.,,���y,,,._
<br /> reapeot to theae matters In the event thtt Grentor falla to provide the requeated statement In a timely manner. �..
<br /> 16. EVENTS OF DEFAULT. M Event o}Uefault ehall occur under thla Deed ot Trust and the Trustee's power aha11 become operative In the event that � "•'_+�-'���"'��
<br /> '�:1:�4..� •_ __
<br /> Grantor,Borrower or any guarantor of the Obligatlons: �T-jj-
<br /> (a) feils to pay any Qbligation to Lender when due; k��::
<br /> (b) lniis to perform any Obligation or breaches any warranty or covenant to Lender contained in this Deed of Trust or any other preSent or future ,. • �;.,:
<br /> apreement; �"`�°
<br /> (c) destroys,loses or damages the Property in any materisl respect ov subjecls the Property to seizure,confiscation,ar condamnatlon; ��,�M'°' �--
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<br /> . (d) seeks to rovoke,termiiiAte or otherwise Iimit its Ilabiiiry under any guaranry 4a Lendor, !°-%��'�t� -
<br /> � r.�;..' � (e) dlea,becomes legally Incompetent,is dissolvad or terminated,becomoa insalvent,makes an assignmant for the benelle o1 creditors,tells to ;Z,r!!i4;�S•,-;,`•.�a�..,.
<br /> , --.� pay tlebta es they become due,filea a pelition under the tederal bankrupiCy laws,he�s an Involuntary pot�tion In bankruptcytiled in whiCh Grantor, ,;; ;y;;�:,/EI,!:�'-
<br /> !• �� Borrower or any euarantor Is named,o�hao proparty taken undor any writ ar procosa af court; •��`� '�'
<br /> �r�}; (f) allows gooda to be uaed,transported or stored on the Property,the passeasian,transportation,or use of whlch,Is iltegal; '
<br /> -`,•.;�; :;..�,;:�{�, (g) allows any party other than�rantor or Borrower to assume or undertake any Obligatton without the writtore consent of Lender;or � -
<br /> . (h) causea Lender to deem its�lf Insecuro due to a slgnificant decline in the value of the Property;or if Lender.(n gaod faith,for any roason. � �
<br /> 6elleves that tho prospect of payment or pertormance is Impaired. -��R.:_-.
<br /> tY. RIGHTS OF LENDER ON EVENT OF DEFAULT. Upon the occurrence of an Event of Defauit under thls Deed of Trust,Lender ahnil be sntitied to ____-
<br /> exercise one or more of ths 1`ollowing nmedlea without notice or demand(except as requlred by law�: -
<br /> •� (n) to declaro the Obilpatlona Immedtatlly due and payabie In full,nuch acceloratlon ahell be eutamatio nnd Immedlate N the Event of Defsult le �;��_
<br /> e fillnp under th�Bankruptcy Code; =
<br /> (b) to collwt ths ouritandinp Obllqttionl with or without resortinp to Judlct�l procaae; �-�-
<br /> (o) to r�qulro Qrantor to d�lfwr and m�k�awllabl�to Und�r any p�rwn�l prop�rry or Chattds constitutinp th�Propeny at e placs roa�on�bly •�i_�
<br /> conv�nl�ntto Orantor and Und�r; ��Y `�
<br /> (d) to�nt�r upon and tak�po�s�ttlon of th�Prop�rty without applylnp for or obtdnlnp th��ppolntm�nt o1 a reaivsr and,at L�nd�r'�optlon,to
<br /> •ppolnt�rwNwr without bond,withoat flttt brinpinp wlt on th�Obllpationt and without othmvlW m��tlnp�ny st�tutory condlttom rsQardinp �
<br /> � r�lwrs,It belnp Int�ndW that l.�nd�r�hall hav�thl�contraotual rlyht to�ppolnt�r�c�lv�r; ��
<br /> --_-. . _. � ;e; �a�m�lo;a r.^.�na?!n�e�wnt n1 �h�Amn�rfy�nA let th�um�.�ith�r in Tm�tu'�nwn nam�.In th�n1�ms of L�nd�r or In th�nam�ot __
<br /> t3rantar, �nd rsaiv�th�nnt�, InCOm�t,Is�un end prollts of th�Prop�rly and�pply th� um�,�ft�r paym�nt o1 all mc�sury charp�s ancl
<br /> �xp�na��,on account ot th�Obll tlionr,
<br /> . (f) to pay any sum�In any torm gr manmr d��msd expedient by Lsnder to protea th�eocuriry of thls O�ed oi Truat or to cun�ny dsfault other
<br /> than paymmt of Int�nst or princtp�l on th�Oblipatlans;
<br /> (p) to tonciose this O�ed of Truat Judlelslly or nonJudlcfdly and to dlrsct the sals of the property through exerclse of the power ot eale as
<br /> � nt�unced In panpnph 20,h�rsin,In aaordancs with appllcabl�law;
<br /> (h)to est�oH arantor'e Obllpatlone�palntt any emounts owed Orentor by Lender Ineluding,but not Ilmited to,monies,Instruments,and deposlt
<br />- axounte malntaln�d with Lend�r or any curnntly exlstinp or futuro aNlllets of Lendu;and '
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<br /> - - - �!f ta:::arcts;,a!t other rlQhN:.v�tlablc tcl.:nder undcr nny athar urltten npreement or nppilenble Inw.
<br />- . L�ncNr'a rlphts an cumulativs and may be exerclasd top�thsr,nepsrately,and In�ny ordsr. In th�event that Lender Institutes en action es�king �
<br /> ths ncowry of any ot the Property by w�y of a prsJudpment remsdy In an ealon eyalnet Orantor,�rantor waive�ths po�ting of any bond whloh
<br />' � miyht oth�rwise be nquired. Lender or Lendsr's dealpnes may purchase ihe Property at any sals. Proceeda ot any Truatee's eals hertunder
<br /> � • � sh�ll bs apptied firat,to the coate and expensea of sxercislnp the power of saie and ot the eate,Inctuding the payment of the Trustes's teea
<br /> � C ectudly Incurred and not to exceed the�mount whlch may be provided for In thia De�d of Trust,aecond,to payment of the Obligatlone eecured
<br /> '� �� � henby,thlyd,to ths payment of Junior uust deeda,mortpe sa,or other Ilenholders,end the bainnce,if any,to th� peraon or psrsons Iepaliy
<br /> ic.� •��•---,e� sntitl�d thtreto. Ths Property o�eny pert thereof may be soQd In one parcel,or in such parcels,menner or order ns Lend�r tn Its aols dlacretion
<br />-,..� , .� , may tlect,�nd one ar moro exercises of the power herein granted shali not extingulsh or exhaust the power unless the entiro Property le sold or
<br /> ,,�,,� ,.�..� � ths oblipatione are pald In full.
<br /> � • 20. TRUSTEE'S E�(ERCI$E OF POWER OF SALE ON DEFAULT. Upon default 6y Borrowsr in peyment of any Obligatlons secured hereby,Lender
<br /> y msy d�clers all sume,aecursd hereby,Immedlately due and payable and shall cause to bs filed o}record a written notice of default and electlon to
<br /> . ' nell ths Prop�rly. Aft�r ths lapse of euch tlme es then may bs requlred by law fotlowing recordatfpn of such notice of dsfeuit,and notlee of sale
<br /> havinp besn ylvsn en then rsqulnd by Inw,Trustee,without demand on Grantor,shall sell such Property,elther es e whole or In sepnrnte parcels,�nd
<br /> In euch order ae it or Lender mny determine,at publio aualon to the htghest bldder. Truatee mey postpone the eals of ell or any portion of tfie
<br />� " Property by publio announcement at the time nnd place of eaie,and from tlme to time thereaftet mny ponpone the sale by pubt{e announcement at ---
<br /> ...' • th�tim�and place tix�d by the precedinp poatponement. Trustee shall del(ver to such purchaser Its deed conveying ths property,or purtion ihsreof,
<br />-�- �• so told,but without any covenrnt or wuranry,expresa or Implied. The rocltnia in such deed of eny metters ot fact or otherwlee,shali be concluaive -
<br />---; ��;�;ti"t proof of the truthiuineas thereof. My person,Including Orantor,Truatee or Lender,may purchase at such enle. ,
<br />-'� ��'t°"�"��'` 21. REQUEST FOR NOTICES. arantor re uests that a copy of an notice of defaultand a copy ot an notice of aele hereunder be melled to ear.h
<br />�•�'" parson who Is e party hereto,at the addroas of auch person aet torth hersin at the same time and In ths same manner rsqufred as though a separste i���
<br /> • request thsreof had been tlled by eaah auch person.
<br /> "''�` 22. SECURITY INTEREST UNDER TNE UNIFORM COMMERCIAL CODE. Thls Deed of Truat shall be considored n finenclnp etatement and a
<br /> � fixturo filing pursuant to ths provlslons of the Uniform Commercial Code (as adopted In the state whero the Property la located)covering tixtures, �`•-Y -
<br /> chariele,end articles of personal properiy now ownod or heroaftor attached to or to be used In conneotlon with the Property together with any and all ;s,�,,,��.r,} _
<br /> replaoements theroof nnd ndditlons theroto phe'Chattels"j,and Orantor hereby prante Lender a security Interost in such Chettels. The debtor Is the :-
<br /> prantor desCrlbed�bove. The securoq party la the Lender described nbove. Upon demand,Grentor shail maks,execute nnd dellver such security ;;-
<br /> agreemeMS(ee auch term la detined In safd Unfform Commercial Code)ae Lender at eny time m�y deem nocsssary or proper or roqulrod to prant to �'��-
<br /> Lender a pertected security Interost tn the Ch�ttels,and upon Grantor's falluro to do so,Lender Is euthodzed to sipn eny such egreement as tho apent � ••-� �rg� . ,;-.
<br /> ��r. ...
<br /> of(3rantor. Cirentor hereby authorizea Lender to flle flnancing stetemsnte(es such term Is deflned In seld Uniform CAmmercinl Code)with respect to A:,�Y r.
<br /> th�Chatteia,at any tlme,wlthout the slgnaturo ot prantor. Qranter wili,however,et any tlms upon requsat ot Lender,elgn such finencinp etatementa. � :�sT�h____�__-
<br />- Orantor wllt pay nll filinp fesa for the flling of such finnneinp statemsnte nnd fOr tho retlllnp thereof at the timea required,In the opinlon of Lender,by ;; �°' °
<br /> anld Uniform Commerclel Code. M the Ilen of thls Deed of Truat le subJect to any security egreement coverinp the Chattels,fhen In the evsnt of any �'•, ,;;� ,��.
<br /> d�fault undsr this Deed of Trust,all the rlght,title and intereat of Grantor In and to any end ell of ths Chattela Is hereby essipnsd to Lender,ta pether �^°c
<br /> with the benefit of any depoelte or paymente now or hereafter made thereof by Grantor or the predeceasors or successors In tttle oi drsntor In the '+�':
<br /> Property. ;'4��..�..
<br /> 23. REIMBURBEMENT OF AMOUNTS EXPENDED BY LENDER. Lender,et Lender'e option,may expend funda(Including ettorneys'fees nnd lepel - � - ••
<br /> ___,__._ expenaea)to pertorm eny eot roqulrad to be taken by Grnntor or to exsrclse any right or romedy ot Lender under thle Deed ot Trust. Upon demend,
<br /> ���ti��.w. .n1�h�hlnh�nt rwtw
<br /> --- ----�- �;ramor anau immsaiaisry re�mourae�snaer�or av auwi am�umn o�cpdnu'va'uy�6rnioi iGyoi�oi::�2� ���2oPoo 2`6:��'.-.«.......�._...._...o.---. -.-
<br /> _ �------------� -�-�----.__'-
<br /> desCrlbed In any Obllgetlon or the hiphest rnte allowed by law from the dnte of payment until the date ot relmbursement. These sums shall ba •
<br /> InCluded In the definitfon of Obligntlons hereln and shell be secured by the beneficlal Intereat granted hereln. If the Obllgations are paid after the
<br /> boginninp of publication of notice ot eale,es herefn provided,or in the event Lender ahall,at its soie option,permit Orantor to pay any part of the ,
<br /> � Obllgetions afler the beglnning of publication of notiCe of sele,as hereln provided,then,Grantor shall pay on demend all expensea Incurred by the
<br /> Trustee and Lendor In conneCtlon with said publication,Including reasonable attorneys'fees to the attorneys for the Trustee end for tha Lender,and a
<br /> - reasonable tee to the Trustee,and thie Deed of Trust shall be securlty tor all suCh expenses and foos.
<br /> 24. APpLICATION OF PAYMENTS. All payments made by or on behalf ot drantor may be applied a�ainat the amounts paid by Lender(including
<br />-� attorneys'teea and legal expensos) in connection wfth the exercise of Its rights or remedfes described in this�eetl of Trust and then to the payment �
<br />_ � • of the romaining Obligationa in whatever order Lender chooses.
<br /> � 25. POWER OF ATTORNEY. Grantor hereby appoints Lender as its attorneyIn•fact to endorse Grantor's name on all inatruments and other ,
<br /> ' documonts portaining to the Obllgations or DeeU of Trust. In additlon,Lender shall be entitled,but not required,to perform any action or executo any
<br />- document requlred to be taken or executed by Grantor under thla Deed of Truot. Lender's performance of such aetion or executfon of ouch
<br /> documenta shell not relleve Cirantor irom any Obligation or cure any default under this Deed of Trust. All powers ot attorney described in this Deed of
<br />= , Trust aro coupled with an interest and are irrevocable.
<br />- 28. SUBROGATION OF LENDER. Londer shall be subrogated to the rights ot the hoider of any previous lien,security fnterest or encumbrance
<br /> dlscherged w0h funds advanced by Lender regardleas of whether these Iiena,seeurity interesta or other encumbrances havo been released of reCOrd. .
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<br /> � lPNE51 iC � Fo�mAdon tc<nnoiop�es.inc.If�i8;9G1 IB001 OJ7�799 Fcgo J of 9CR K Z
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