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��14�147�
<br /> DEEC� �F TRUST
<br /> Loan IVn: 'I���74�139 ��ontinu�d} Page 6
<br /> ad�ances, when due, and Trustor o�kherwise per�orms alf th�obligations impased upon Trus�tor under�his Qeed vf Trust,
<br /> Lender shal� execute and de[iver to Trustee a reques� ��r fu�l recon�eyance and shall execu�e and deli�er to Trusfor
<br /> suitable sta�ements of�ermina�ion v� any financing stat�ment on fi{e e�iden�ing Lender's s��uri�y in�erest in �he Rents
<br /> and �he Personal Pr�perty. Any recvn�eyance f�� required by law shall be paid by Trustor� i� perm�tted by applEcable
<br /> law.
<br /> EVENTS �F DEFAULT.' Each of th� �o[Iowing, at Lender's option, shal3 cons�itute an Event �f Defaul� und�r this Deed
<br /> o�Trust:
<br /> Rayment Default. Borrower fails to make any payment trvhen due under the lndebtedness.
<br /> �#her De�aults. gorrower or Trus�or fails to campiy with or t� per�orm any o�her fierm, obiigation� c�Wenant flr
<br /> cond�tion contained in this Deed of Trus�k or in any o�the Related Documen�s ar to comply with or ta perf�rm any
<br /> t�rm, �bliga�ki�n, co�enant ar condition �on�ained in any�ther a�reement between Lender and B�rrow�r o�Trustor.
<br /> Compliance Default. Failur� ta c�mply wi�h any other term, obligation, ca�enant ar c�ndition cantain�d in this
<br /> De�d❑f Trust, the N��e vr�n any ofi the R�lafied Do�uments.
<br /> �e��uit�n��h�r Pa�men�s. Fai[ure o�Trus�or�vithin the tim� req�ir�d by this fi��ed �f Trust to make any paym�n�
<br /> far�axes or insuran�e, ar any other paym�nt necessary to pr�vent�i�ing of ar t�eff�ct dis�harge�f any lien,
<br /> False Statements. Any warran�ty, representati�n vr statement made❑r furnished to L�nder by B�rrvwer or Trustor
<br /> vr on Sorrvwer's �r Trustor's hehal�F under this Deed of Trust or the R�la�ed Documents is fa[se or mis�eading in
<br /> any material respec�, either n�w ar a� the t�me made or furnished ar becomes �False or misleading at any time
<br /> �hereafter.
<br /> Qefec�ive Collaterali�ativn, This Deed of Trus� or any nf the Re[ated Dvcuments ceases �o be in fu{I force and
<br /> effect �inciu�ing failure Qf any co�la�eral document �o create a �alid and perfected s�curity in�er�st vr lieny at any
<br /> time and for any reas�n.
<br /> Death or Insol�en�y. The dissolutifln�r terminatian af 6orrower's�r Trustor's e�isten�e as a going business or�th�
<br /> d�ath of any partner, th� insvl�ency o� Barr�wer ar Trustar, �he appointment of�a recei�er �ar any part vf
<br /> Barrower's ar Trustor's prvperty, any assignm�n�for�he benefit o�F cred��ars. any type �f �reditvr wvrkout� �r the
<br /> Gommencement�f any proceeding under any bankruptcy ar inso[�ency[aws by or against Borr�wer or Trustor.
<br /> Creditor a� Forfeiture Prv�eedings. C�mmencement a� �Foreclasure �r f�rfei�ure pr�ceedings, whether by judicial
<br /> proceeding, selt-hefp. repossession or any other me�hod, by any creditor af Borrower or Trustor or by any
<br /> ga�ernmental agency against any praperty securing the Indebtedness. This includes a garnishment of any of
<br /> Borrawer's or Trustor's accounts, in�luding deposit accounts, with Lender. Howe�er, �this E�ent of ❑efault shall
<br /> na� apply if there is a good faith dispute by Borrawer �r Trustor as �o the validity or r�asonableness of the claim
<br /> whi�h is the basis o��he credifor vr farfeitur� proceeding and i� B�rrower vr Trust�r gi�es Lender written nvtice vf
<br /> the credi�ar or for�Feiture praceeding and deposi�ts with Lender manies or a surefiy bond for�he �reditor or fvr�e�ture
<br /> proceeding. in an amount determined by Lend�r, in Ets s�l�discr��ion, as being an adequate reserve or band for the
<br /> dispute.
<br /> Breach af�ther Agreement. Any breach by Borr�w�r or Trust�r under th�terms �f any oth�r agreem�n� be�we�n
<br /> Borrower or Trustor and Lender that is nat remedied within any grace period provide� �herein� �ncEuding without
<br /> lim�tatian any agreement concerning any inde�tedness flr v�her obligati�n �f Barrower or Trustor ta Lender,
<br /> whether existing now or{ater.
<br /> Events A�fecting �uaranto�. Any o�the preceding e�enfis ��curs with respect fiv any guarantor, endorser, surety,
<br /> or accvmmodation party o�f any ot the Indeb�edness vr any guarantor, endorser, surety, or accommoda�ion par�y
<br /> dies or bscQmes inc�mpetent, vr re�okes or dispu�es the �a�idi�y �f, ❑r liability.under, any �uaranty of the
<br /> Indebtedness.
<br /> Ad�erse Change. A mat�r�a1 ad�ers� change ❑ccurs in Borr�wer's or Trustor's �inanciaf cond�tion, or Lender
<br /> believes the prospec�of payment ar performance of the Indebt�dness is impaired.
<br /> �nsecur��y. Lender in�oad faith believes�tself insecure.
<br /> Right to Cure. lf any d��ault, vther than a defaul�t in paymen� is curabl� and i�Trust�r has not b��n gi�en a nvtice
<br /> of a breach of the same pr�visi�n of�his ❑eed of Trus�within the preceding�welve ��2� mnnths, it may b�cured if
<br /> Trustvr, after Lender sends written notice ta Borrawer demanding cur� of such de�au��. �1 y cures the de�Fault
<br /> within fi�teen [�5y days; or {�} i�the cure requires mvre than �ifte�n �'�5y days, immedia�ely initia�es steps which
<br /> Lender deems in L�nder's sale discretiQn to be sufficient fio �ure the default and thereafter continues and
<br /> c�mpletes aEl reasonable and necessary steps suffi�ient�v produce complian�e as s��n as r�asonably practical.
<br /> RIGHTS AND REIVIED�ES �N DEFp►ULT. I� an Event of Default accurs under this Deed o�F Trusfi, at any time therea�t�r,
<br /> Trustee or Lender may exercise any�ne or more vf the following rights and remedies:
<br /> Acceleratian Upon Default; Additzona! Remedies. If any Event ❑� De�ault occurs as per the terms of the No�e
<br /> secured hereby, Lender may d�clare a�f Indebfiedness secured by this Deed of Trust ta be due and payabl� and
<br /> the same shall thereup�n become due and payable withou�any pr�sentmen�, demand� pr�test�r natic�of any
<br /> kind. Thereafter, Lender may:
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