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<br />(b) fails to perform any Obligation or breaches any warranty or covenant to Lender contained in this Deed of Trust or any other
<br />present or future agreement;
<br />(c) destroys, 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 limit 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
<br />creditors, fails to pay debts as they become due, files a petition under the federal bankruptcy laws, has an involuntary petition in
<br />bankruptcy filed in which Grantor, Borrower or any guarantor is named, or has property taken under any writ or process of court;
<br />(f) allows goods to be used, transported 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;
<br />(h) causes Lender to deem itself insecure due to a significant decline in the value of the Property; or
<br />(i) if Lender, in good faith, for any reason, believes that the prospect of payment or performance is impaired.
<br />19. RIGHTS OF LENDER ON EVENT OF DEFAULT. Upon the occurrence of an Event of Default under this Deed of Trust, Lender
<br />shall be entitled to exercise one or more of the following remedies without notice or demand (except as required by law):
<br />(a) to declare the Obligations immediately due and payable in full, such acceleration shall be automatic and immediate if the Event
<br />of Default is a filing under the Bankruptcy Code;
<br />(b) to collect the outstanding Obligations with or without resorting to judicial process;
<br />(c) to require Grantor to deliver and make available to Lender any personal property or Chattels constituting the Property at a place
<br />reasonably convenient to Grantor and Lender;
<br />(d) to enter upon and take possession of the Property without applying for or obtaining the appointment of a receiver and, at
<br />Lender's option, to appoint a receiver without bond, without first bringing suit on the Obligations and without otherwise meeting
<br />any statutory conditions regarding 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
<br />name of Grantor, and receive the rents, incomes, issues and profits of the Property and apply the same, after payment of all
<br />necessary charges and expenses, on account of 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
<br />default other than payment of interest or principal on the Obligations;
<br />(g) to foreclose this Deed of Trust judicially or nonjudicially and to direct the sale of the property through exercise of the power of
<br />sale as referenced in paragraph 20, herein, in accordance with applicable law;
<br />(h) to set -off Grantor's Obligations against any amounts owed Grantor by Lender including, but not limited to, monies, instruments,
<br />and deposit 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
<br />seeking the recovery of any of the Property by way of a prejudgment remedy in an action against Grantor, Grantor waives the posting of any
<br />bond which might otherwise be required. Lender or Lender's designee may purchase the Property at any sale. Proceeds of any Trustee's sale
<br />hereunder shall be applied first, to the costs and expenses of exercising the power of sale and of the sale, including the payment of the
<br />Trustee's fees actually incurred and not to exceed the amount which may be provided for in this Deed of Trust, second, to payment of the
<br />Obligations secured hereby, third, to the payment of junior trust deeds, mortgages, or other lienholders, and the balance, if any, to the person
<br />or persons legally entitled thereto. The Property or any part thereof may be sold in one parcel, or in such parcels, manner or order as Lender
<br />in its sole discretion may elect, and one or more exercises of the power herein granted shall not extinguish or exhaust the power unless the
<br />entire Property is sold or the obligations are paid in full.
<br />20. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT. Upon default by Borrower in payment of any Obligations secured
<br />hereby, Lender may declare all sums, secured hereby, immediately due and payable and shall cause to be filed of record a written notice of default
<br />and election to sell the Property. After the lapse of such time as then may be required by law following recordation of such notice of default, and
<br />notice of sale having been given as then required by law, Trustee, without demand on Grantor, shall sell such Property, either as a whole or in
<br />separate parcels, and in such order as it or Lender may determine, at public auction to the highest bidder. Trustee may postpone the sale of all or
<br />any portion of the Property by public announcement at the time and place of sale, and from time to time thereafter may postpone the sale by public
<br />announcement at the time and place fixed by the preceding postponement. Trustee shall deliver to such purchaser its deed conveying the property,
<br />or portion thereof, so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters of fact or otherwise,
<br />shall be conclusive proof of the truthfulness thereof. Any person, including Grantor, Trustee or Lender, may purchase at such sale.
<br />21. REQUEST FOR NOTICES. Grantor requests that a copy of any notice of default and a copy of any notice of sale hereunder be
<br />mailed to each person who is a party hereto, at the address of such person set forth herein at the same time and in the same manner required
<br />as though a separate request thereof had been filed by each such person.
<br />22. SECURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered a financing
<br />statement and a fixture filing pursuant to the provisions of the Uniform Commercial Code (as adopted in the state where the Property is
<br />located) covering fixtures, chattels, and articles of personal property now owned or hereafter attached to or to be used in connection with the
<br />Property together with any and all replacements thereof and additions thereto (the "Chattels "), and Grantor hereby grants Lender a security
<br />interest in such Chattels. The debtor is the Grantor described above. The secured party is the Lender described above or any nominee of
<br />Lender who is named as beneficiary on page 1. Upon demand, Grantor shall make, execute and deliver such security agreements (as such
<br />term is defined in said Uniform Commercial Code) as Lender at any time may deem necessary or proper or required to grant to Lender a
<br />perfected security interest in the Chattels, and upon Grantor's failure to do so, Lender is authorized to sign any such agreement as the agent of
<br />Grantor. Grantor hereby authorizes Lender to file financing statements (as such term is defined in said Uniform Commercial Code) with
<br />respect to the Chattels, at any time, without the signature of Grantor. Grantor will, however, at any time upon request of Lender, sign such
<br />financing statements. Grantor will pay all filing fees for the filing of such financing statements and for the refiling thereof at the times
<br />required, in the opinion of Lender,by said Uniform Commercial Code. If the lien of this Deed of Trust is subject to any security agreement
<br />covering the Chattels, then in the event of any default under this Deed of Trust, all the right, title and interest of Grantor in and to any and all
<br />of the Chattels is hereby assigned to Lender, together with the benefit of any deposits or payments now or hereafter made thereof by Grantor
<br />or the predecessors or successors in title of Grantor in the Property.
<br />23. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender, at Lender's option, may expend funds (including
<br />attorneys' fees and legal expenses) to perform any act required to be taken by Grantor or to exercise any right or remedy of Lender under this Deed
<br />of Trust. Upon demand, Grantor shall immediately reimburse Lender for all such amounts expended by Lender together with interest thereon at the
<br />lower of the highest rate described in any Obligation or the highest rate allowed by law from the date of payment until the date of reimbursement.
<br />These sums shall be included in the definition of Obligations herein and shall be secured by the beneficial interest granted herein. If the
<br />Obligations are paid after the beginning of publication of notice of sale, as herein provided, or in the event Lender shall, at its sole option, permit
<br />Grantor to pay any part of the Obligations after the beginning of publication of notice of sale, as herein provided, then, Grantor shall pay on
<br />demand all expenses incurred by the Trustee and Lender in connection with said publication, including reasonable attorneys' fees to the attorneys
<br />for the Trustee and for the Lender, and a reasonable fee to the Trustee, and this Deed of Trust shall be security for all such expenses and fees.
<br />24. APPLICATION OF PAYMENTS. All payments made by or on behalf of Grantor may be applied against the amounts paid by
<br />Lender (including attorneys' fees and legal expenses) in connection with the exercise of its rights or remedies described in this Deed of Trust
<br />and then to the payment of the remaining Obligations in whatever order Lender chooses.
<br />25. POWER OF ATTORNEY. Grantor hereby appoints Lender as its attorney -in -fact to endorse Grantor's name on all instruments and
<br />other documents pertaining to the Obligations or Deed of Trust. In addition, Lender shall be entitled, but not required, to perform any action
<br />or execute any document required to be taken or executed by Grantor under this Deed of Trust. Lender's performance of such action or
<br />GreatDocs
<br />ITEM 1233L4 (0504) LPNE511D ® Harland Financial Solutions, Inc. (9110/98) (Page 4 of 7 pages) To Order Call: 1- 800 - 968 -5775
<br />APP #: 8838302
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