201405843 - Laserfiche WebLink

Browse

i F► ��14�5543 DEED DF TRUST Loan No: 7�'I�7897� �C�nt[nue�� Page � 6reak Dther Prvmises. Trustor breaks any promise made ta Lender or fails to perfivrm promp�ly at the tEme and strictly in�he manner prv�ided in this Deed a�Trus�or in any agreement reiated to this Deed ❑f Trus�. Cvmpl'rance De�ault. Failure to comply wi�h any ❑ther term, obliga�ion, cv�enant or candi�ion cnntained in this Deed a�Trust,the Nate ar in any vf the Related Documen�s. Defau�t vn Qther Paymen#s. Faiture o�Trustor within�he time required by-�his Deed of Tr-ust t❑ make any payment for-�axes ar insurance, or any❑�her payment necessary to pre�ent filing ❑f ar to effect discharge of any lien. False 5�atemen�s. Any represen�a�ion �r stafiement made or furnished ta Lender by Trustor vr❑n Trustar's behalf under this Deed ❑f Trus�❑r the Related Documenfis is �alse ar misleading in any material respect, either now ❑r a�t the�ime made or furnished. De�Fective Colla�eralizafion. This ❑eed of Trus� or any o-� the Rela�ed Documents ceases to be in #ul[ force and ef�Fec� {including -�ailure ❑f any collateral do�ument fio crea�e a �alid and perfe��ed seGurity in�erest or �ien� at any �ime and��r any reason. D�ath or Insolvency. The deafh❑fi Trus�or,the insal�en�y o�Trus�or, the appointmen��a recei�er far any part o� Trustor's p�-operty, any assignmen� for the benefi� of creditars, any type of cr-editor warkou�, ar �he cammencement��any prv�eeding under any bankruptcy or insol�ency[aws by vr against Trus�or. Taking af the Property. Any �reditor ❑r go�ernmental agency tries fiv tal�e any of the Property or any ❑ther vf Trus�or's proper�ty in which Lender has a lien. This includes �aking of, garnishing of ❑r le�ying on Trust�r's accoun�s wi�h L�nder. Howe�er, if Trustor dispu�es in good faith wh�ther the c�aim ❑n whi�h �he taking of�he Property is based is �a�id ❑r reasonable, and if Trus�or gi�es Lender w�itt�n nvtice of �he Glaim and furn�shes Lender viri�h manies or a sure�y bond satisfactvey to Lender�v satisfy the claim, then th�s de�aul�pro�ision wili not apply. greach vf D#her Agreement, Any breach by Trustar under the terms o�any❑ther agr��men�between Trustor and L�nder fihat is not remedied within any grace period prv�ided �herein, including without �imitativn any agreement �vncerning any indeb�edness o�-ofiher obliga�ion of Trustar to Lender,whether exis�ing nvw❑r later. . E►ren�s Ai�ec�ing Guaran#vr. Any ❑f the preceding e�en�s vccurs with respec�to any guaran�or, endorser, surefiy, or accommodation par�y af any of�he lndebfiedness or any guarantar, endorser, surety, or accammodation par�y dies or hecomes incompetenfi, ❑r re�akes or disputes the �alidity o�, ar liabili�y under, any Guaranty ��F fihe lndebtedness. InsecurEty. Lender En gaod fiaith 1�e��eves �tse[f inse�ure. �xisting lndeb�edness, The payment of any installmen�v�principaf or any interest ❑n the Exisfi�ng Endebfiedness is no�made within the time required 1ay the promissory no�e e�idencing such indeb�edness, ar a defau[t occurs under �he ins�rument securing such indeb�edness and is nat cured during any applicable grace period in such ins�rument, or any sui�or othe�-ac�ion is commenced�o�orec[ose any exis�ing Eien on the�Property. Righf to Cure. lf any defau�t, other than a default in paymen�is curable and if Trustor has not been gi�en a no�ice ❑�F a breach o��he same proWision of this �eed o�Trust wi�hin the preceding twel�e ��2� mon�hs, it may be cur�d if Trus�or, after Lender sends wri�kten na�kice�v Trustor demanding �ure a�such defaulfi: {�} cures�he default wi�hin �en �10} days; or ��} i��he cure requires mare than�en ��D} days, immedia�t�ly initiates steps whEch Lender deems ' in Lend�r's sflle discr�tion�❑ be suf�icient to cure�he defau�t and�hereaf�er continues and �ompletes alf reasonable and ne�essary s�eps su�ficEent fiv produ�e campliance as soan as reas�nab[y prac�ical. RIGHTS AND REMEDIES QN DEFAULT. lf an E�en� o� �3efaul�k occurs under this I�eed of Trus-�, at any�kime thereaf�ker, Trus�ee or Lender may exercise any ane vr more ❑f the�a[[�wing righ�ts and remedies: Accelera�ivn Upvn ❑efiaurt; Addrt�onal Remed�es. If any E�en�❑� Default occurs as per the te�ms ofi the Nvfie � s�cured hereby, Lender may d�clare all indeb�edness secured by this D�ed o�T�ust�❑ be due and payable and fihe same shall thereupan hecome due and paya}�le wi�hout any presentment, demand, protesfi�r nofii�e of any kind. Thereafter, Lender may: �a� Ei�her in persvn or by agent, wi�h ❑r wi�hou� bringing any ac�ion �r proceeding, ❑r by a re�eiver appointed by a caurt and wi�haut regard fio �the adequacy v�i�s securi�y, enter upon and fiake pvssession ❑f�he Property, ar any part�herevf, in ifis own name ❑r in the name af Trusfiee, and da any acts which i� i., deems necessary❑r desirab[e-�a preser�e�he �afue, marke�abili�y or rentability of�he Pr�perty, nr part vfi the Proper�y �r in�erest in �he P�operty; incr�ase fihe income �rom the Property ar profi�ct�he s�curi�y ❑f the Pr�perty; and, with or wi�hou� �aking possessivn ❑fi fihe Property, sue fivr ❑r otherwise cvllect the rents, issues and pro�its o��he P�operty, including those past due and unpaid, and apply the same, less casts and expenses ❑f ape�ra�kion and collectivn attarneys' fees,to any indebtedness secured by this ❑eed ❑f Trust, all in such order as Lender may determine. The en�ering upan and taking possession of the Prvper�y, �he collection of such rents, issues and profits, and the applEcation thereof shalf nat cure or wai�e any de�au[t or nati�e vf de�auEt under�his Deed of Trust or invalidate any act done in respvnse to such de�ault❑�r pursuant�o su�h notice ofi de�ault; and, no�wi�hs�anding�he continuance in possession ot the Prvperty ❑r�he �olle�tian, receipt and appli�ati�n ❑� ren�s, Essues vr profi�s, Trus�ee or Lender shall be entit�ed to exer�ise eWery right pra�ided �or in�he Note ❑r the Related Dacuments or 1�y law upvn the �ccurren�e vf any eWent af de�fauit, inc�ud�ng the right t�exer�ise the power❑f sale;