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<br /> ,. i ' 16. TA1(Eef Aa m�gof nnmeNUpon�tns request o Linds�Or ntor ah�ll deposR wfth Londeheaoh moMh one•tweltth(t/r12)otthe�estima ed nnnunl •V��::_
<br /> '`;��.,,a.,
<br /> � n U ance premlum,taxes and assesament�p�rtalnlnp to the Propsrry. So lanp es thore Ia no default,thnse amounts ahall b�appil�d to the payment �,µ
<br /> at tuc�a,�s��asmenta entl Inaurtnce as requlred on the Propdrty. In the evant of dofauit,Lender ehall have the right,at Ita eole option,to apply the , f . �
<br /> _..
<br /> funds so held to pny any tnxea or agnlnet the Obllpationn. Any funde applled mny,nt Lender's ontfan,be eppllnd in reverse order of the due data� . ,l,s'`:�-
<br /> th�rsot. BOOKS RECORUS AN�REPQRTS. arantor ahall allow lender or its ayenta to examine and inapaot the �, '., ;�
<br /> 16. IN8pECTION OF PROPERTY, � � # ,�
<br /> '��_•--.-
<br /> + Property and exnmine,Inapect end make coplcs of�rantor's books and records pertalninp to the Property from tlme to time. Qrantor shall provlde�. rR_yY
<br /> 1 any asalstance requirod by Lsnder for these purpoaea. NI of the slgnaturea and Informatlon contalned In C3rantor's booka and recards shall be � ' •°t�,_��.__
<br /> genulne, true, nceurate and complete In all reapecte. Orantor shall note the exiatence of Lender'e baneticlal Interest In its booke snd records ,�`*,_�_., _
<br /> pertalning to the Property. Addltionnlly,(3rantor shnll report.In a form entisfeotory to Lender, such Inlormatian as Lender may request regarding� : - -- '� �
<br /> "7H' i
<br /> j Grantar's financlal condition or tho Proporty. Tho Information shall be for auch perinds,shall reflect Grantor's records at auch time,and ehall be •�^�.i '
<br /> rondend with such frequency ae Lender may dssl�nate. NI Informatlon furNahed by Orantor to Lender shau ue trua,accurato nnd comploto In all���• �" .. _•���
<br /> respeote,nnd nigned by Orantor If Lender requeats. •�, �,:f,g��: •
<br /> 17. ESTOPPEL CERTIFICATSS. bllhatlons,�n al ned a deacknowledg dbsyt tement pecitying(�)he outflta dl g ba/ar ce oin the Obllgatlons and� �+}f,`��+ .��
<br /> �' Lender's rights with respect to the O p fl �,�}91R�,,
<br /> (b)whether drantor posseases any clalma,defenses,sat�offs or counterclaims with rospect to the Obligatlons and,If so,the nature of such clalms, N �.�.a�, ��,�._,
<br /> �t:. yW.7,an•.
<br /> defenssa,aet-offe or counterclalma. (irantor wiii be conclusively bound by any repreaentatlon that Lender may make to the Intended transferee wlth � _ _
<br /> renpeot to these mattere in the event that(3rnntor inlls to provide the requested atetemant In a timely manner. ��,r�,._
<br /> tg. EVHNTS OF DEFAULT. M Event of Defau!t shali occur under thle Daed of Truat and the Trustee'e power shall become operative In the event that ��_`5-��
<br /> � Orantor,Borrower or any punrantar ot the Obllyationa: --
<br /> (a) falls to pay any Obllpatlon to Lender when due;
<br /> � (b) talls to peAorm any Obligation or breaches any warranty ur covenant to Lender contnined In this Deed of Trust or any other prssent or future
<br /> agreement; �
<br /> � (dj aeekre to revoke,terminate orhothervvise mlt Its I ahiUty undeeany euarenry to Len�daerty to se�:ure,contlacation,or condemnatlon;
<br /> pay dlebts ae hoy b�com�Idusrtfl�les e petlt oln undsr h�fsdsrel bank�up cy awa�hae nn Involun�ry petit on in bank uptcy fllsd In wthilcheCi nlntor�,
<br /> Borrowet or any puarenSor le nemed,or hac property tnken under eny wdt or proc�sa of court; _ _
<br /> (f) aliowe poode to b�used,trensported or stor�d on the Propsrty,the poss�aalon,trtnapoA�Uon,or ua�ot whlch,is fllspel;
<br /> (p) allows any pnty oth�r than Or�ntor or Borrow�r to��wm�or und�rttk�tny Obllp�tlon withoutth oWlfttl.end�r,e nnt ood taith�for my raason,
<br /> (ti) csusee Lsnder to d�em Its�H Int�cun du�ta�slpnific�nt d�clln�In ths v�lu�ot ths Prqp�rry: G
<br /> bdl�v�e th�t th�prosp�ot o1 paym�nt or p�rtorm�nc�le Impalnd.
<br /> tf, pI0HT6 OF LENDER ON EVENT OF DHFAULT. Upon th�occurnnc�of an Ewnt of D�fault und�r thle D��d of Tru�t,L�nd�r eh�li b��ntitl�d to
<br /> �, �x�rcla�ono or mon of th�tollowlnp nm�dl��wlthout notic�or d�mtnd(exapt��nqulnd by I�w):
<br /> (a) to d�clu�th�Obllp�tlon�Imm�dlaaly dw and payabl�In full,tuch acc�l�ntlon ahall b�autometic and Imm�dlst�If th�Ewnt of Defnult Is
<br /> a tllinp und�r the Bankruptoy Code;
<br /> (b) to coli�ct th�outet�ndlnp Obllpatlon�witn or Nlthout n�ortlnp to Judlclal procsas;
<br /> �, (o) to requlrs Ornntor to d�liv�r and maks nvnllabla to Lsnder eny personal property or Chettele conetitutlnp the Property at a plitce reasonably _
<br /> convenlent to�nntor end Lsnder;
<br /> (d) to enter upon and tak�poseeselon of th�Propsrty without epplyinp tor or obtalnlnp the�ppolntment of e recslvsr and,at Lender'e optlon,to _
<br /> .1, appolnt a recelver without bond,wlthout firet brinpinq sult on the Oblipatlone and wlthout othervtlss mestinp any statutary condltiona rsparding -
<br /> r���y�lq,if hnlno Intended that Lander shall heve thls contractual right to appolnt a recelver; _�
<br /> (e) to employ m m�nnpinp ayent of the Property nnd let the eame,eitner�n irus�ee's own ��a���a,�r�iYa aamo c!ie^dC!^!IR ?h� nnm�of ��=
<br /> Grentor, end rocsive the rents,Incomes,Iasuea and proffu of the Propartyr and apply the same, aftsr payment of aIi necessary charflea and �.�,�
<br /> expenaes,on account of the Obligntlons;
<br /> (f) to pay any sums In any torm or manner deemed expedlent by I.ender to proteat the securlty of thla Deed of Trust or to cure any default other �„�=^
<br /> than payment of Interoat or princlpal on the Obligatlons; �),-
<br /> (g) to farocloae thia Deed of Trust Judlcialiy or nonJudlclaity and to dlrect the sale of the property throuph exercise of the power of sale ne � „
<br /> roferenced in paragraph 20,herein,In eccordnnce with eppllcable law; �
<br /> (h)to sst�oN Grentor's Obllgntlona ngalnat nny amounta owed Grantor by Lender Including,but not Ilmited to,monlee,instruments,and depoait
<br /> nccounte mainteined with Lender or any currentiy exletlnq or tuture affiliete of Lender;end f.
<br /> (I)to exerclae ell other righte availabie to Lender under any other written agreament or appllcable Inw. �
<br /> Lender's rlyhts are cumuletive and mey be exercised to9ether,separateiy,and In any order. In the event that Lend�r inatitutes an aCllon eeekinp
<br /> � the recovery of any of the Property by way of a preJudgment remedy In nn eotlan apalnst Orantor,Grantor walvse ths posting of any bond which
<br /> might otherwise be required. Lender ar Lender's desipnee mey purchsse the Property at any eale. Proceeds of eny Truetee'e sale hereunder `__��_� .-
<br /> shall be applled first,to the costs and expenses of exerclsing the power of sale and of the sele, Includiny the paymsnt of the Truatee's fees _,_�_„
<br /> actuaily Incurred and not to exceed the amount whlch may be provided for In thla Deed of Truat,sscond,to payment of the Obllpatlons secured �p,�.�.�.
<br /> t� hereby,third,to the payment of Junlor trust deeda,mortpnges,or other Ilenholders,nnd the balance, If sny,to the pereon or peraona legally ���
<br /> entltled thereto. The Property or eny part thereof may be sold In one parcel,or In auch parcels,manner or order as Lendsr In Its soU dlscrotion �_�_,
<br /> may eloct,and one or more exerclsea of the power herein granted shall not extingulsh or exhauat the power unless the entirs Prop�Ay is sold or �T�4
<br /> � the obligaUons nre pald In fu1L �- __�
<br /> 20. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT. Upon default by Borrower In poyrnent of any Obligations securod horeby,Lender -,-s.---- .
<br /> r may decinre all sums,aecured heroby,Immedlately due and pnyable end shali oause to be filed of rccord a wrltten notice of defnult and eleotlon to �c�==- '
<br /> � sell the Property. Atter tho lapse of auch time as then may be roqulred by lew following rocordatbn of euch notice of default,and notics ot sais ��;,=�y
<br /> having been given as than roqulred by Iaw,Truatee,wlthout demand on Grantor,shall sell euoh Properry,elther ae e whol�or in se arate arcels,and "�_
<br /> P P x:....,.,�'.
<br /> In such order as It or Lender may determine,at pubUo auctlon to the hlgheat bldder. Trustee mny poatpone the saie of all or any portion of the ��-°--
<br /> «� Property by publlc announcement at the tlme and place of sale,and from time to tims thereafter may postpone the sale by pubilc announcement at �['„;,��
<br /> the tlme and place fixed by the preceding poatponement. Truste�ehall dellver to such pvrchaser fte deed conveying ths property,or portion thereof, �.____
<br /> so soid,but without any covanant or wartanry,expresa or tmplied. The rocitale In such deed of any mattera of faot or othenvise,shnli be Concluelve �._ ._
<br /> � proof of tho truthiulness thereof. My person,Including Cirantor,Trustee or Lender,may purchese at such sale. --�-
<br /> 21. RE�UEST FOR NOTICES. Grentor re uesta that a copy of an notice oi default and a cop of any notice ot sale hereunder be mailed to each '" �..••.��--
<br /> p y y •� �;��,�:.���
<br /> person who Is a party hereto,at the addreas of such person set forth hereln at the eame tlme and in the same manner requlred ae though a separato ,�xt':.'„'"�a.
<br /> � request thereof had been flied by each such person, ���!`� .
<br /> 22. SECUFiiTY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. Thla Deed of Trust shall be conaldered a financinQ etatement and a , . �
<br /> flxturo flling pursuant to the provlalons ot the Uniform Commerclal Code(as adopted In the etate where the Property le Iocated)coverinp fixturea, , •��
<br /> chattels,and articles of personal property now owned or hereafter attached to or to be uaed in connectlon with the Property topether with nny tnd dll
<br /> replacements thereof and additfons thereto(the'Chattels"),end Grantor hereby grants Lender a security Interest In such Chattols. The debtor Is the
<br /> Grantor desCribed above. The secured party le the Lender deacribed above. Upon demand,Grantor ahall make,exsaute and dellver auch aecurity
<br /> agreements(as such term la defined In eald Uniforrn Commerclal Code)ae Lender at any time maydeem necessary or proper or requlred to grant to
<br /> Lender a perfected security Interest In the Chattels,and upon Grantor's fallure ta do ao,Lender is authorized to algn any such agreement es the agent .
<br /> of Grantor. (3rantor hareby authorizeu Lender to tile flnancing etataments(as such term Is defined In said Unitorm Commerclal Cade)with reapeot to
<br /> the Chattels,at any time,without the signature of Orantar. Grantor will,however,et any time upon requeat of Lender,stgn such financing statemente.
<br /> Grantor wlll pay all filing fees for the fllinc�of euch financing statementa and for the rafiling thereof at the timea requlred,in the opinlon ot Lender,by
<br /> aald UnHorm Commorclal Code. It the Ilen of thla Deed of Trust Is aubject to any security agreement coverinp the Chattels,then In the event of any
<br /> default under this Deed of Trust,ell the right,title and intorost of Grentor in and to any and all ot 4he Chetteis is hereby asslgned to Lender,together
<br /> with the benefit of any doposits or payments now or hereaRer made theroof by Grantar or the predecessors or succossors in title of Grantor In the
<br /> Property. �
<br /> 23. REIMSURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender,at Lendei's optlon,may expnnd funde(including attorneys'fees and legal �
<br /> expensosj co peri�rrn nn avi i u�iov w`vo 4a::a��.`. n.�.........�...,.e..ae�e.....�..ti•,...e.,,�,.�i i p��n.�,nhar�hls Dead of Trust. Uoon demand. _ _ _ _
<br /> YQ4 y..�..�....�..�.........._._ ..�..o..._.._...__�
<br /> Grantor shall immedlatoly relmburse Lendor for all such amounts exponded by Londer together with Interest thereon at tho lowor of tho highost rate
<br /> described In any Obilgation or the highest rate allowed by law from the date of payment until ihe date ot reimbursemont. Those sums ahall be i
<br /> inCludocl In the definition of Obllgatlono hereln and shall be secured by tho beneficlal interest grented herein. It the Obllgatlons are pald aftor the -
<br /> beginning of publlcatlon of notice of sale,as hereln provlded,or In the event Lender shall, at its sol�i optlon,permlt Grantor tu pay any part of the i
<br /> Oblfgations after the beginning uf publicatinn ot notice of sale,as horoin provided,then,Grantor shali pay on deman�all expensos tncurred by the �
<br /> Trustee and lender In connoctlon with sald publlcatlon,Including reasonable attorneys'fees to the etlorneys for the Trustee and for the Lender,und a
<br /> reasonable fee to the Trustee,and this Deed of Trust shall be socurity for nll such expenses and fees. '
<br /> 24. APPLICATION C1F PAYMENTS. All payments made by or on behalf of Grantor may be applled a9ainst the amounts pald by Lender (Including �
<br /> • attorneys'tees and logm expenses)in connection with the oxerclso of its righta or romodios described In this DePd Ot Trust t+nA than rn fhw payment �
<br /> of the romalning Obligatlons in whatever order Lender chooses. �
<br /> ' 25. POWER OF ATTORNEY. Grantor horuby appofnts Lender as its attorneyin-fact to ondorse Grantor's name on all inatrumonts and other
<br /> documents portafnfng to tho Obligatione or Deed of Trust. In additlon.Lender shall bo entitled,but not requirod.to porform any actlon or exocuto any I
<br /> documont required to be takon or executed by Grantor under this Deed of Truet. Lendor's performpnce of such action or executlon of such
<br /> documents shall not relieve Grantor from eny Obligatfon or cure any default under this Deed ot Trust. All powers of attorney described in this Deed of I
<br /> Trust ere couplod with an interest and aro irrevocable.
<br /> 26. SUBROGATION OF LENDER. Lender shall be subrogatod to the rights of the holdQr of any provious lion,security interest or encumbtance I
<br /> d�scharged with funds advanced by Londer regardless of whether these liens,security interests or Other oncumbrnnces hAVe been releaso�c�
<br /> i�'Nf b�q: , �a„nA1•a,rrr�,�.n�aq�r,.�n� 1��.n aGi I��GO�PJ�]74o F+nqn.l n�S �
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