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201403961
<br /> DEED OF TRUST
<br /> Loan No: 10127730'f (Continued) Page 6
<br /> for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> Faise Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on
<br /> Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect,
<br /> either now or at the time made or furnished or becomes false or misleading at any time thereafter.
<br /> Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in fiull force and
<br /> effect (induding failure of any collateral document to create a valid and perfected security interest or lien) at any
<br /> time and for any reason.
<br /> Fnsolvency. The dissolution or termination of Trustor's existence as a going business, the insolvency of Trustor,
<br /> the appointment of a receiver for any part of Trustor's property, any assignrnent for the benefit of creditors, any
<br /> type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or
<br /> against Trustor.
<br /> Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br /> proceeding, self-help, repossession or any other method, by any ereditor of Trustor or by any governmental agency
<br /> against any property securing the Indebtedness. This includes a garnishment of any of Trustor's accounts,
<br /> including deposit accounts, with Lendet. However, this Event of Default shall not apply if there is a good faith
<br /> dispute by Trustor as to the vafidity or reasonableness of the ciaim which is the basis o#the creditor or forfeiture
<br /> proceeding and if Trustor gives Lender written notice of the creditor or forfeiture proceeding and deposits with
<br /> Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its
<br /> sole discretion,as being an adequate reserve or bond for the dispute.
<br /> Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and
<br /> Lender that is not remedied within any grace period provided therein, including without limitation any agreement
<br /> concerning any indebtedness or other obligation of Trustor to Lender,whether existing now or later.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br /> or accommodation party of any of the IndebYedness or any guarantor, endorser, surety, or accommodation party
<br /> dies or becomes incompetent, or revokes or disputes the validity of, or liability urtder, any Guaranty of the
<br /> Indebtedness.
<br /> Adverse Change. A material adverse change occurs in Trustor`s financial condition, or Lender believes the
<br /> prospect of payment or pe�formance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itself i'nsecure.
<br /> Right to Cure. If any default, othe�than a default in payment is curable and if Trustor has not been given a notice
<br /> of a breach of the same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if
<br /> Trustor, after Lender sends written notice to Trustor demanding cure of such default: (1) cures the de#ault within
<br /> fifteen {15) days; or (2) if the cure requires more than frfteen (15) days, immediately initiates steps which Lender
<br /> deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes ali
<br /> reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trusf, at any time thereafter,
<br /> Trustee or Lender may exercise any one or more of the foll:owing rights and remediess
<br /> Acceleration Upon Default;Additional Remedies. If any Event of Default occurs as per the terms of the Note
<br /> secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and
<br /> the same shalf thereupon become due and payable without any presentment,demand, protest or notice of any
<br /> kind. Thereafter, Lender may:
<br /> (a) Either in person or by agent, with or without 6ringing any action or proceeding, or by a receiver
<br /> appointed by a court and without regard to the adequacy of its security, enter upon and take possession
<br /> of the Property, or any part thereof, in its own name or in the name of Trustee, and do any acts which it
<br /> deems necessary or desirable to preserve the value, marketability or rentability of the Property, or part of
<br /> the Property or interest in the Property; increase the income from the Property or protect the security of
<br /> the Property; and, with or without taking possession of the Property, sue for or otherwise coltect the
<br /> rents, issues and profits of the Property, including ihose past due and unpaid, and apply the same, less
<br /> costs and expenses of operation and collection attorneys' fee5,to any indebtedness secured by this Deed
<br /> of Trust, afl in such order as Lender may determine. The entering upon and taking possession of the
<br /> Property, the collection of such rents, issues and profits, and the application ihereof shall not cure or
<br /> waive any default or notice of default under this Deed of Trust or invalidate any act done in response to
<br /> such default or pursuant tio such notice of default;and, notwithstanding the continuance in possession of
<br /> the Property or the collection, receipt and application of rents, issues or profits, Trustee or Lender shall
<br /> be entitled to exercise every right provided for in the Note or the Retated Documents or by law upon the
<br /> occurrence of any event of default, including the right to exercise the power of sale;
<br /> (b) Cornmence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically
<br /> enforce any of the covenants hereof; and
<br /> (c) Deliver to Trustee a written declaration of defaulti and demand for sale and a written notice of default
<br /> and election to cause Trustor's interest in the Property to be sotd, wF�ich notice Trustee shall cause to be
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