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DEED OF TRUST Page 4
<br /> 65770 (Continued) 2 0 0 0 0 0116
<br /> Jces. The following shall constitute texes to which this section applies: (a)a specific tex upon this type of Deed of Trust or upon aN or any
<br />\ part of the indebtedness secured by this Deed of Trust; (b)a specific tax on Trustor which Trustor is suthorized or requfred to deduct hom
<br /> \ payments on the Indebtedness secured by this type of Deed of Trust; (c)a ta�c on this type of Deed of Trust chargeable a�ainst the Lender or
<br /> the holder of the Note; and (d) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest mede by
<br /> Trustor.
<br /> Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Dsed ot Trust,thls evenf shaH have the
<br /> same effect as an Event of Default(as defined below),and Lender may exercise any or all of its available remedies for an Event of Detault as
<br /> prov(ded below unless Trustor either (a)pays the tax before it becomes delinquent,or (b)contests the tax as provided above in the Taxes and
<br /> Liens secHon and deposits with Lender cash or a sufficient corporate surety bond or other securiy safisfactory to Lender.
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions rela6ng to this Deed of Trust as a security agreement are a part of
<br /> this Deed of Trust.
<br /> Securfty Ayreement. This instrument shall constitute a security agreement to the extent any of the Property constitutes fixtures or other
<br /> personai property, and Lender shall have all of the rights of a secured party under the Uniform Commerclal Code as amended from tlme to
<br /> time.
<br /> Security Interest. Upon request by Lender,Trustor shall execute financing statements and take whatever other actlon is requ�ted by Lender
<br /> to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real
<br /> property records,Lender may,at any time and without further authorization from Trustor,file executed counterparls,copies or reproducdons of
<br /> this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfectlny or continuing this security
<br /> interest. Upon default,Trustor shall assemble the Personal Property in a manner and at a place reasonably convenient to Trustor and Lender
<br /> and make it available to Lender within three(3)days after receipt of written demand from Lender.
<br /> Addresaes. The mailing addresses of Trustor (debtor) and Lender (secured pariy), from which informaHon concernfng the security interest
<br /> granted by this Deed of Trust may be obtained(each as required by the Uniform Commercial Code),are as stated on the first page of this Deed
<br /> of Trust. "
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of tF�s
<br /> Deed of Trust.
<br /> Fu�ther Assurances. At any time, and from time to time, upon request of Lender,Trustor will make, execute and deliver, or wNl cause to be
<br /> made, executed or delivered, to Lender w to Lender's designee, and when requested by Lender, cause to be flled, recorded, refiled, or
<br /> rerecorded,as the case may be,at such dmes and in such offices and places as Lender may deem appropriate,any and aN such mortgages,
<br /> deeds of trust,security deeds,security agreements,financing statements,continuation statements,instruments of further assurance,cerlificetes,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate,complete, perfect, continue, or
<br /> preserve (a)the obligations of Trustor under the Note,this Deed of Trust,and the Related Documents,and (b)the liens and security interesis
<br /> created by this Deed of Trust as first and prior liens on the Property,whether now owned or hereafter acquired by Trustor. Unless prohibited by
<br /> law or agrsed to the contrary by Lender in writing,Trustor shall reimburse Lender for all costs and expenses incurred in connection with the
<br /> matters referred to in this paragraph.
<br /> Attomey-In-Fact. If Trustor fails to do any of the things referred to in tha preceding paragraph, Lender may do so for and in the name of
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby irrevocably appoints Lender as Trustor's attorney-in-fact for the purpose
<br /> of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph.
<br /> FU1 PERFORMANCE. If Trustor pays all the Indebtedness when due,and otherwise performs all the obligations imposed upon Trustor under this
<br /> Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable
<br /> statemenls of terminatlon of any financing statement on flle evidencing Lender's security interest in the Rents and the Personal Properfy. Any
<br /> reconveyance fee required by Iaw shall be paid by Trustor,if permitted by applicable Iaw.
<br /> DEFAI�T. Each of the following,at the option of Lender,shall constitute an event of default("Event of Default'�under this Deed of Trust:
<br /> Default on Indebtedness. Failure of Trustor to make any payment when due on the Indebtedness.
<br /> Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for texes or insurance,or
<br /> any other payment necessary to prevent filing of w to effect discharge of any lien.
<br /> DeMult in Favor of Thlyd Parties. Should Borrower or any Trustor default under any loan,extension of credit,security agreement,purchase or
<br /> sales agreement, or any other agreement, in favor of an�other creditor or person that may materially affect any of Borrower's properiy or
<br /> Borrower's or any Trustor's ability to repay the Loans or perform their respective obligations under this Deed of Trust or any of the Related
<br /> Documents.
<br /> Compliance Default. Failure of Trustor to comply with any other term, obligation, covenant or condition contained in this Deed of Trust,the
<br /> Note or in any of the Related Documents.
<br /> Falae Statements. Any warranty,representation or statement made or furnished to Lender by w on behalf of Trustw under this Deed of Trust,
<br /> the Note or the Related Documents is false or misleading in any material respect,either now or at the dme made or furnished.
<br /> Debctive Collateralizatlon. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(includ(ng failure of any
<br /> collateral documents to create a valid and perfected security interest or lien)at any time and for any reason.
<br /> Insolvency. The dissolution or termination of Trustor's existence as a going business,the insolvency of Trustor,the appointment of a receiver
<br /> for any part of Trustor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any
<br /> proceeding under any bankruptcy or insolvency laws by or against Trustor.
<br /> Foreclosure,Forfelture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceedinq,self-help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmental agency against any of the Property. However,this subsecdon shall not
<br /> apply in the event of a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the basis of the foredosure or
<br /> forefeiture proceeding, provided that Trustor gives Lender written notice of such claim and furnishes reserves or a su�ely bond for the claim
<br /> satisfactory to Lender.
<br /> Breach of Other Ayreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that is not remedied
<br /> within any grace period provided therein,including without limitation any agreement concerning any indebtedness or other obligaHon of Trustor
<br /> to Lender,whether existing now or Iater.
<br /> Events Affectinp Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br /> dies or becomes incompetent,or revokes or disputas the validity of,or liability under,any Guaranty of the Indebtedness. Lender,at its opHon,
<br /> may, but shall not be required to, permit the Guarantor's estate to assume unconditionally the obligations arising under the guaranty in a
<br /> manner satisfactory to Lender,and,in doing so,cure the Event of Default.
<br /> Events Aifectinp Co-Borrowers. Any of the preceding events occurs with respect to any co-borrower of any of the Indebtedness or any
<br /> co-borrower dies or becom� incompetent, or revokes or disputes the validity of, or liability under, any of the Indebtedness. Lender, at fis
<br /> optio�, may,but shall not be required to, permit the co-berrower's estate to assume unconditionally the obligations on the Indebtedness in a
<br /> manner satisfactory to Lender,and,in doing so,cure the Event of Default.
<br /> Adverse Chanpe. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or
<br /> performence of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith deems itself insecure.
<br /> Rl�ht to Cure. If such a failure is curable and if Trustor has not been given a notice of a breach of the same provision of this Deed o(Trust
<br /> within the preceding hnrelve (12) months, it may be cured (and no Event of Default will have ocxurred) if Trustor, after Lender sends w�itten
<br /> notice demanding cure of such failure: (a) cures the failure within flfteen (15) days; or (b) if the cure requires more than fifteen (15) days,
<br /> immediately initiates steps suificient to cure the failura and thereafter continues and comptetes all reasonable and necessary steps sufflcient to
<br /> produce compllance as soon as reasonably practical.
<br /> . RIGHTS AND REMEDIES ON DEFAULT. Upon the occunence of any Event of Default and at any time thereafter,Trustee or Lender,at its opdon, �
<br /> may exercise any one or more of the following rights and remedies,in addition to any other rights or remedies provided by law:
<br /> Acceleretion upon Default; Additional Remed(es. If any event of default occurs as per the terms of the Note secured hereby,Lender may
<br /> deciare ail indebtadness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and payable without
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