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<br /> 16. TAl(ES ANO ASSESSMENTS. arantor thell psy all taxsa�nd asa�esm�m�relatinp to ths Property when due and fmmediately Frovid�Und�r
<br /> � Ovid�nce of pRymmt of��ms. Upon ihs requeet of I.end�r,Grflntor Bha11 d��sost with Lsnder each month one•tweltth(1/12)of the estimat�d�5lnutl
<br /> � Ineurenc�pnmlum,taxsa end asaessments pertalnlnp to ths Property. Sorong ds there le no detault,these amounts nhall be applled to Ih�p�ym�nt
<br /> ol taxu. �tluammte and inaurancs ae roqulrsd on ths Properry. In Ihe avent of default,Lender ehell heve the right,at Its sole optlon,to apply th�
<br /> , funds�o held to pey any ttuces or agalnst the Ubilpetions. /Viy�u nde appliad may,et Londer's option,be applied In revarse order ot the due dtle
<br /> th�r�01.
<br /> ib. INBPECTt0�1 OF PROPERTY,BOOK&, RECORDS AND REPORTB. Cuantor shan aliow Lender or ite agsnts to examine and inep�ct �he :r,
<br /> Prop�ny end�,�smine,Inapect and meke coplea ot�rantor's booka�nd��cord�penalning to ths Property from time to t�me. Ornrtor ehall provld� � ,
<br /> any �seiat+�nee rsqulred by Lender tor these purposes. All of Ihe alpnWraa and intormatlon contalned in Orantor's books and records ehall b� �
<br /> p�nuln�, trus, accurate and complete in all reopecta. �rantor sheu�de the exlstenca ot Lender's beneflclal interest in ita booke nnd recorde '
<br /> � p�rt�lnlnq to the Property. Additlonally, Orantor sheli report,in a torm utIBUMOry to Lender,such Information as Lender may request npuding
<br /> Orantor's tlnnncial conditlon or the Property. The Inlormatton shall be la sueh periods,shall rellect Orantor's records at such time,tnd ehall t»
<br /> rondcrod w�th such froquoncy ns Lendor may deeignete- All iMOrrnationNr►�ished by Grantor to Lender ahall be true, accurate and complete in ell �
<br /> � nsp�cts,and eigned by Orantor it Lendsr rsqueats. �
<br /> , 17. EBTAPPEI.CERTIFICATES. Within ten (10)deya eker any request by Lender,Cirantor nhell deliver to Lender,or eny intended tranelerse of � •
<br /> Undu's riflhts with reapeot to the Obllgntions,a alpned and acknowledgM esu�ement specifying(a)the outstancfing balpnce on ths Obllgationa;and
<br /> � @) w��ther(3rantor posseeses any clelms,defensea,set�offs or countardefrns with respect to the Obllgations and,if so,the nature of euch clnima. , ,
<br /> defenses,set�offa ar counterclelme. �rantor wlll be conclusively bound 6Y an��epresentation that Lender may make to the Intended uansteree with O i •
<br /> � rlapect to these mattere In the event thnt Ornntor felle to provide the req ueriad statement In a tlmely manner. �
<br /> ib. EVENTS OF DEFAULT. M Event of Default shall occur under this Deed olTruat and the Trustee's po�var shail become operetive in the event that � ,
<br /> Gr�MOr, Borrower or any guarantor of the Obllgatians: �
<br /> (e) faila to pay any Obligatlon to Lendnr whon due;
<br /> (b) talls to psrform any Obligation or breaches any warrenry or covenent to Lender contained in thia Deed ot Tmst or any other prosent or futuro •:_'{�___
<br /> epreament; . •
<br /> (c) destroys,losea or demages the Property in any meterial reapect asubjecta the Prqperry to seizu�e.c�n`�scation,or condemnatbn:
<br /> (d) saeks to revoke,terminate or otherwisa Iimit its Ilabiliry under ariyg�a eranty to Lenqer;
<br /> (e) dlee,becomes legnlly incompetent,is dlssolvad or terminated,6ocemes inaolvent,makes an ass�gr.rr,ert f.r.t�e Mnefit of creditors,fails to ---
<br /> pny debtts as they become due,iiles a petitlon under ihe lederal bankwplcy laws,has a�i involuntary Na�tior,sr.Ce-�'rc�c=:y flled in which(irantor.
<br /> . Borrower or eny guarantor Is nnmed,or hes property taken under anyNrit or procoss of cowt; . .
<br /> p) allows floods to be uaed,tranaporled or stored on the Property,Ine passession,transportation,or use of whia7,is inegal; � �
<br /> (g) allows any party other than Grantar or Borrower to assume or u naertake any Qbligation vritliPutrnlhe writtan con;ont of Lender;or
<br /> (h) causes Lender to deem Itselt Insecure due to a aignificant decMa in the value of tho Pro e or if Lender, fn good faith,tor any reason,
<br /> believes thet the prospect of payment or performance is Impaired. ,
<br /> 1g. RIGHTS OP I.ENQEA ON EVENT OF DEFAULT. Upon the occurrQnce of en Event of Uefault underthia Uaed oi Trust,Lendar�han be entitled to .
<br /> exerdte one or more of the following remedies without notice or demand(excapt as requlred by leuv�:
<br /> (a) to deciaro the Obllgatlons Immedlately due and payable in ful l,wc h acceleration shall be uutomatic and immediate if the Event ot Default is —
<br /> yQ a ffling under the Bankruptcy Codo;
<br /> (bl to collect the outstandinr�Obligatlons with or without resorting tojudi6nl proceas; .
<br /> �, (cj to requlre Grantor to deliver and meke avaflable to I.ender any persanal property or Chatteis constftuting the Property at a place reasonebly
<br /> convenlent to Orantor and Lender;
<br /> (d� to enter upon and take posseasfon of the Property without applpng la or obtaining the appointment of a mcelver and,at Lendar's optlon,to ��`
<br /> � appolnt a rece�ver wlthout bond,without firat bringing ault on the Ob�igatbns and without otherwise meet�nfl any atatutory conditlona regarding ���,�--
<br /> � roceivers,it being intentled that Lander shall have this coNractual right toeppolnt a rocelver, •:�t�'. .�___
<br /> � (e) to employ a managinp agent of the Property�andr^et1Aheff�Pfolther I�nndraanlv the same,aitertha ment off alenecessery char�es and y�% ���
<br /> uramor, anG�ar:aive tY�s ccni�,lr.comes,.__ues e..d �+.- . P�nY P y e C - �'�''
<br /> expsnses,on account oi the Obligatlons; ' �
<br /> (f) to pay any sums in any form or manner deemed expedlent by Under to protect the osauriry af th�s Oeed of Trust or to cure any default other • �:�-
<br /> Ihan payment of Intereat or principal on the Oblfgations; _
<br /> ��iP�u�r•-
<br /> (q) to forecloae this Oeed of Trust�udicially or nonjudicinlly and�o daeat the sale of the property through exerclse of the power of sale as ,5
<br /> �eferenced In paragraph 20,hereln,In accorder,ce with applicabla law; � ;�
<br /> • (h)to sst�oH Grantor's Obligntlons againat any amounts owed Granlor by i.ender Includfng,but not limited to,moNes,i�strumeM9,and deposit �_ ��_,.
<br /> • eccounte malnuinsd with Lender or uny currently existinp or future eHi tlafe of Lender;and �„ y,_�
<br /> (I)to�xsrdse all other rlghtn nvafiable to Lender under any other wrirte�n igreement or applioabla law. f �:
<br /> Lender's riphts are cumulative snd may be exercised together,sspua��ty,and in any vrder. In tNe event it�at Lender Institutes en actlon sseking ;
<br /> the recovsry of any of ths Prop�rty by way of a pre�udgment remedy In en action agafnst Grentor,Qrantor walves the poating of eny bond which �,�
<br /> might othsrwise be rsqulrsd. Lender or Lender's tlesipnee may purchise the Property at any sele. Proceeds ot any Trustse'e sale hereunder _
<br /> shall be applled first,to the costs and expenses of exerclsing the power af snle and ot the sale.lncluding ths payment of th�Ttuatee's fses
<br /> actually�ncurred anG not to exceed the umount whlch may be praidad lor In thls Deed of Trust,secand,to payment of the Obllpntlons sscurod
<br /> hereby,thlyd,to the payment ot Junlor trust deeds,mortgages, aother Ifenholdera,and the balance,If any,to the pereon or parsons lepally
<br /> mayeot�nnd one oPmo e xe erclses of ths�powemharNn grantad annotlextingulah ope heustthe powe�un esa t e entln�Property�ls sold or _
<br /> the obllpatlons are pald In full.
<br /> ' 20.TRU8TEE'3 D(ERCISE OF POWER OF SALE ON DEFAULT.Upon delault by Borrower In payment of any Obllgatlona securedhereby,Lender . ._
<br /> rnay declaro alI sums,secured hereby,immedfately due and payable end shall aauae to be tlled of rocord n wrlrien notics of dsfault and eleatlon to ,,..
<br /> sell the Propsrry. Atter the lapse of such tlms as then may be roq::.lred by law following rocordation of such notice of deiault, and notice of sele .;��,��._,- --
<br /> hadnA been plvsn as then requlred by Inw,Trustea,wlthout dem�e^.d�n6rantor,shnll aell such Properry,elther aa e whole or In aepuete parcels,and
<br /> In ouch order es it or Lender mny determine,at publlo auctior.to:Rie hlghest bldder. Truatee may postpano the sale of all or a�ry podlon of tho -
<br /> property by publla nnnouncement at the time nnd place of sais, aod fran tlme to tlme thereaRer may postpone the sale by publla ennouncement at '-,M
<br /> the tlme and place flxed by the procedlnp postponoment. Tructee stselldeliver to such purcheser Its deed conveying the property,or portlon thereof, •.,�,,,�,M„�;
<br /> s0 wtd,but wlthout nny covenant or warranty,express or Implietl. The rac�els in such deed of any mettere of tact or otherwlse,ahell be concluslve _
<br /> proof of the truthtulnesa theroof. My person,Including�rantor. Tmsreeor Lander,may purehase et such sale. c, -
<br /> 21, RE�UEST FQR NOTICES. Grantor requeata that a copy of any notice of default and a copy of eny notice of sale hereunder be mallod to each '';,�p��� _
<br /> person who Is a party hereto.at the address of such person set fAnh heiai n at the same tlme and In the same manner requlrod as though a aeparate � �^
<br /> request thereof had been filed by eaCh such person. ,� �„
<br /> 2Z. SECURITY INTHREST UNDER THE UNIFOHM COMMEiiCIAL C�OE. Thls Deed of Trust shall be considered a flnancing statement and a c . ,�� �,,,�;�, ,
<br /> flxture filing pursuant to the provlslons of the Unlform Commerclal Coda(�s Stlopted in the state where the Property is loccted)eovering flxtures, �}'��+ •• ;;�,�.n,.
<br /> chattels,and articles of personal property now owned or hereafter atteched to or to be used In connectlon with the Property topetherwtth any nnd all �'Ri�,�'�';t;i;�,�;:.;� .,,
<br /> ..;�.,«.,.
<br /> prentor deocrlbetl tro ea The'tseCUredrpartyhs thehLe�nde descrlbad�ibove.bUp9on demand,rGrantorrshalltmake,execute and del e�su h securlty , � ���
<br /> ayreementa 4ns such term Is detlned In sald Unlform Commercial Code)as lender at any t�me may tleem necessary or proper or requlred to grant to � �•��� .
<br /> Lender a pertected securlty Interest fn tlie Chattels,and upon 6rantorelailure to do so,Lentler Is autnorfzed to slgn any such agreement ea the ngent
<br /> •_.,�
<br /> of Grantor. C3rantor hereby authorizes Lender to tile tlnancrog stetements (aa such term�s deflned in sald Unfform Commerelal Code)with respeCt to • . •
<br /> the Chattels,at any tlme,wlthout the slgnature of Grantor. Grantor wil.however,at any time upon request of Lender,sfgn auch flnanting atatements.
<br /> Qrentor will pay all flling fees tor the filfng of such financing statemanu and for the reflling thereof at the tlmes roqufred,In tho opinbn ot Lender,by
<br /> eald Unlform Commerelal Code. If the lien of thls Deed of Trust Ia suqectto any aecurfty agreement coverin�the Chattela,then In the event of any
<br /> w��lh che benoflt lof any deposlts orl puymentstnow or�hereafte�acf e mareof by G antor or tlhe p ed cessora or successors in tltte a��rantor�ntthe
<br /> Property. ,
<br /> 23. REIMBURSEMENT OF AMOUNI'S EXPENDED BY LENDER, Lender,et lender's optlon,mey expend funds(Including nttorneys'fees and legal
<br /> ezpenees)to perform eny act requlred to be taken by Grantor or to ezerclse any rtght or remedy ot Lender under thls Deed of Tru!t. Upon demand, -
<br /> Grnntor shall Immedlately relmburse Lender for alI sucn nmountsexpended by Lender together with intereat thereon at the lower ol the hlghest rnte
<br /> __ ��., �,.�....�ti�1,•rin��n} r�Imh�irRwmsnt These auma shall be . _
<br />- deacrlbed (n any Obugntion or cne nigi,esi reie niii,wo.; vy�a�.��.���.:a�v:..„�r«i.:.-.......-. ...___.. _. ._ . - -. - _.-——
<br /> Includad In the deflnitlon of Obligations herefn flnd shall be securedby the beneficlal Interest granted herein. If the Obltgatlo�s ere paid aker the
<br /> begInnlnp of publlcatlon of notice ot sule,es hereln provlded, or In Ne event Lender shall,nt its sole option,permit Grantor tu pay any part of the
<br />- Obllglltlona aker the beglnnln4 of publlCation of notice of sale,es I�e�efn provlded,then,Grantor shall pay on demanG all expensea incurred by the
<br /> Tmstse and Lender in connect�an wlth said publlcation,inc'uding reasonable attorney��feos to the aaorneys for the Trusteo and forthe Lender,and a
<br /> i reasoneble fee to tha Trustee,and thfs Deed of Trus,shall be securitylor ansuch expense9 and teos.
<br /> ' 24. APPLICATION OF PAYMENI'S. All payments nade by or on behalt of Grantor may be applied against the amounts paid by Lendor (including I
<br /> t anorneye'fees and legal expenses)In connection vaitti the exerc�se d�ts rqhts or remedies described fn this Oeed of Trust and then to the paymont �
<br /> � olthe remalning Obllgations In wliatever order lender chooses. �
<br /> � 2S. POWER OF A7TORNEY. Grantor hereby appoints Lenaer as�ts eflorneyin•fact to endorse Grantor's name on all Instruments and other I
<br /> dxuments pertafning to the Obllgatfona or Deed of'fr�st. in addition,Lender shall be ent111ed.but not iequired.to pertorm any actan or execute any �
<br /> ' document requlred to be taken or executod by Grantor undo�th�s�eed ot Trust Lender's pe�torrnance o1 such action or execution of such i
<br /> documents snall not reGeve Granror from any Obligauon or cure enydofauN under this Deed of Trusl All powers of attorney descnbed in th�s Deed o1 i
<br /> ' Trust are coupled with an Interest and are IrrevocaClo. �
<br />° . 26. SUBRO(iAT10N OF LENDER. I.ender shau be subropated ta Ns rghts of the holder of any previous lien, seeurity mterest or eneumbrance I
<br /> { dlscharged with funds advencetl by Lender regardless of whether tt�ese 1 iens, security interests or other encumbrances have been released of record.
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<br />� tPNES'�C < FOrmAUpn TQt�nOlOg,es.�nc 1>>9 96� i8001 BJ�J�99 vegr�of 5 I
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