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- � : ��14�71�7
<br /> . �EE�� �F T�UST
<br /> Laan No: '1�"���Q��B ���ntinuedy Page C
<br /> EVEIVT'S DF DEFAULT. Each of the f�l�awing,-at: -L�nd��'s �ption, sha�l consti�ute an E�ent of De�ault under this De�d
<br /> a�Trust: �
<br /> Payment Defau�t. Borrawer�ai�s t❑ make any paym�n�r when due und�r the Indeb#�dness.
<br /> O�her Defaults. Qorrower ❑r Trus�ar �ails �o comply wi�h or �v per�Form any ather t�rm, obligat�on, c�v�nan� or
<br /> conditian contained in �his ❑eed of Trust �r in any �f the Rela�ed Dncuments or t� comply with or to perfio�m any
<br /> term, �bliga�ion, c�venant or condit��n can�fiain�d in any other agreemen��e�ween Lender and Sorrawer�r Trustor.
<br /> Compliance Default. Faiiure to comply with any �ther t�rm, obliga�ion, c��enant or condition c�n�ained in this
<br /> Deed �f Trust, the Note or in any of the Relafied Dacuments.
<br /> De�ault vn�ther Payments. Failure vf Trus�or within the time requir�d �y this Deed of T�us�tv mak� any payment
<br /> for taxes or insuranGe, vr any o�h�r payment necessary t� prevent filing of or#a e�fec�discharge a�any lien.
<br /> False 5�a�ements. Any wa�ranty, representation or stat�ment made or furnished �o Lender t�y gorrower or Trustor
<br /> ar an Sor�ower's or Trus��r's behalf under this De�d of Trust or fihe Related Documents i� false or rnisleading in
<br /> any material respect, eith�r nvw ar at �he time made or furnished ar be�ames false ar misleading at any time
<br /> thereaftere
<br /> DefectEve �allateralization. This �eed n� Trus� or any of the Related aocuments ceases tv be En full �arce and
<br /> effect {including failure ❑f any �ollateral d�cument �� �reate a Walid and perfected security interes� �r lien� a� any
<br /> time and far any r�asan.
<br /> InsolWency. The dissolution or termtnativn of Borrower's or Trustor's exisfi�nce as a go�ng business, the insol�ency
<br /> af Borrower ar Trustor, �he appointment of a receiver for any part vf Borrawer's or Trustor's prop�rty. any
<br /> assignment for fihe benefit afi Cr�C�l�01'Sr any type af creditar workvut, or the commencem�nt of any proceeding
<br /> under any bankrupt�y or insalvency laws by or agains� Barrower or Trus�ar.
<br /> Creditor or Fvr�eiture Prviceedings. Commencement ❑f f�recl�sure or forfeitur� pra�eedin�s, whether by judicial
<br /> praceedin�, self-h�lp� repossession �r any v�h�r me�thad, by any creditor of Borrvwer or TrustQr �r by any
<br /> �n�ernmental agency against any property securing the Indebtedness. This includes a garnishment of any o�
<br /> g�rrower's ar Trustor"s acc�unts, including deposit accaunts, with Lender. HoweWer, this E�ent of D�fault shal[
<br /> n�t apply if there is a govd faith dispute by Bvrr�w�r or Trustor as tv th� �alidity ar reasonableness �f�he claim
<br /> which is the basis ���he creditor or forfeiture praceeding and if Borrower or Trustor giWes Lend�r wri�ten notice of
<br /> the creditor or�orfeiture prv��eding and depasits with Lender m�nies or a surety bond �For the credi�ar or forfeiture
<br /> proc�eding, in an amount de�ermined by Lender, in its s�le discreti�n, as bein� an adequate reser�e or bond far the
<br /> dispute.
<br /> Breach o�D�ther Agreem�nt. Any brea�h �y B�rrower or Trustar under�the terms of any other agr��ment betw�en
<br /> �orrower or Trustor and Lender fihat is na� remedied withEn any grace perio�l pro�ided therein, including ►rvithout
<br /> limi�a�ion an�r agreemen� cvncerning any indebtedness ar �ther obligation �f Barrvwer or Trus�or to Lende�-,
<br /> whether existing n�w or�ater.
<br /> Events Affe�ting Guarantvr. Any of�the preceding e�rents o��urs with respect t� any guarantor, endorser, surety,
<br /> vr accommodafiion party of any af the Indebtedness �r any guaran�or, �ndvrser, surety, or accommvdation party
<br /> dfPS flr k�ecames incomp�tent, or rev�kes or disputes th� va�idity of, ar IiabEli�y under, any Guaran�y of the
<br /> indebtedness.
<br /> Ad►rerse Change. A material adWerse change occurs in Borrvwer's or Trustor"s financial �onditian, �r Lender
<br /> belie�es fhe prospect of payment or per��rmance nf the Indebtedness is impaired.
<br /> lnse�urity. Lender in �ood faith belie�es itself insecu�-e.
<br /> Right to Cure. 1f any defau[t, �ther than a defaul� in payment is curabl�: and ifi Trus�or has n�t been �iven a notice
<br /> a�a breach�f the same pro�ision of fihis Deed of Trus�►rvithin the preceding twelWe ���y manths, i� may be cured if
<br /> Trustar, a�ter Lender sends wri��en notice ta Borr�wer demanding cure �f such default: �1} cures �he default
<br /> within f�fiteen {15} days; or �2y ��F the cure requires mor�than fifteen �15y days, immedia�ely initiates steps which
<br /> Lender deerns in Lender's sole discretion ta be sufficient �o cure the defiauit and �hereafter continues and
<br /> cvmp[etes a1f reasonab[e an�l necessa�y steps sufficient tv produce comp�iance as soan as reasanably practical.
<br /> RIGHTS AND RE1VlED[ES ON DEFAIJLT. �� an E�ent of �e�Fault ❑ccurs under this Deed of Trust, at any�ime thereafter,
<br /> Trustee or Lender may exercise any one or more of�he f�llowing rights and remed�es:
<br /> Accelerati�n Upvn Defaul�;Addi��ona! Remedies. lf any E�ent of De�Fault occurs as per�he �erms of the Note
<br /> secured hereby, L�nder may d��lare all lndebt�dness se�ured by this Deed �f Trust ta be due and paya�le and
<br /> th�same shall thereupon become du�an�l payable without any pr�sentment, demand, pr��est or no�ice af any
<br /> kind. Thereafter� Lender may:
<br /> 4af Either in person or by agen�. with or withaut bringing any action or proc���ing, or by a recei�er
<br /> ap�oin�ed �y a court and wi�h�u�regard to �he adequacy of i�s s�curit�r, enter upon and �ake possessivn
<br /> of the Property� or any part thereof, in i�s own nam� �r in the name �f Trustee, and do any a�ts which it
<br /> deems necessary�r desirabl��o preser�e the Wa1ue, marke�abili�y or r�n�abi�ity of the Proper�y, vr part vf
<br /> the Pr�perty or interest in the Property, increase the income fr�m the Property o�- protect�he securifiy of
<br /> the Praperty; and, wi�h ar without �aking possession of the Property, sue fvr or o�herwise col[ect the
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