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<br /> 11. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall irrmediately provide Lender with written notice of any actual or
<br /> threatene�J action,suit,or other proceeding affecting the Property. GraMor hereby appoints Lender as its attorney-in-fact to cormience,irrtervene in,and
<br /> defend such actions,suits,or other legal proceedings and to compromise or settle any daim or controversy pertaining thereto. Lender shall not be liable to
<br /> Grarnor for any action,enor,mistake,omission or delay pertaining to the actions described in this paragraph or any damages resulting therefrom. Nothing
<br /> coMained herein will prevent Lender from taking the actions described in this paragraph in its own name.
<br /> 12 INDEMNIFICATION. Lender shall not assume or be responsible for the performance of any of Grantor's obligations with respect to the Property under
<br /> any circumstances. Grantor shall irmiediately provide Lender whh written notice of and indermify and hold Lender and its shareholders,directors,officers,
<br /> employees and agerrts harmless from all claims, damages, liabilities(including attomeys'fees and legal expenses), causes of action, actions, suits and
<br /> other legal proceedings(cumulatively"Claims")pertaining to the Property(including,but not limited to,those invoNing Hazardous Materials). Grarrtor,upon
<br /> the request of Lender,shall hire legal counsel to defend Lender from such Claims,and pay the attomeys'fees,legal expenses and other costs incurred in
<br /> connection therewith. In the aitemative, Lender shall be errtitled to employ its own legal counsel to defend such Claims at Grantor's cost. Grantor's
<br /> obligation to indermify Lender under this paragraph shall survive the termination,release or foreclosure of this Deed of Trust.
<br /> 13. TAXES AND ASSESSMENTS. Grantor shall pay all taxes and assessmerrts relating to Property when due and irrmediately provide Lender evidence
<br /> of paymerrt of same. Upon the request of Lender,Grarrtor shall deposit with Lender each month one-twelfth (1N2) of the estimated annual insurance
<br /> premium, taxes and assessmerrts pertaining to the Property. So long as there is no defauft, these amourrts shall be applied to the paymerrt of taxes,
<br /> assessmerrts and insurance as required on the Property. In the event of default,Lender shall have the right,at its sole option,to apply the funds so held to
<br /> pay any taxes or against the Obligations. My funds applied may,at Lender's option,be applied in reverse order of the due date thereof.
<br /> 14. INSPECTION OF PROPERTY,BOOKS,RECORDS AND REPORTS. Grantor shall allow Lender or its agents to examine and inspect the Property
<br /> and examine,inspect and make copies of GraMor's books and records pertaining to the Property from time to time. Grantor shall provfde any assistance
<br /> required by Lender for these purposes. All of the signatures and information contained in Grarnor's books and records shall be genuine,true,aa.urate and
<br /> complete in all respects. Grantor shall note the existence of Lender's benefiaal interest in its books and records pertaining to the Property. Additlonally,
<br /> Grantor shall report,in a form satisfactory to Lender,such informaiion as Lender may request regarding Grantor's finanaal condition or the Properry. The
<br /> information shall be for such perfods,shall reflect Gramor's records at such time,and shall be rendered with such hequency as Lender may designate. All
<br /> infomration fumished by Grantor to Lender shall be true,accurate and complete in all respects,and signed by Grarrtor if Lender requests.
<br /> 1S. ESTOPPEL CERTIFICATES. Within ten(10)days after any request by Lsnder,Grantor shall deliver to Lender,or any intended ttansferee of Lender's
<br /> rigMs whh respect to the Obligations,a signed and admowledged statemerrt specifying(a)the outstanding balance on the Obflgations;and(b)whether
<br /> Grantor possesses any datms,defenses,set-offs or courrterdaims with respect to the Obligaiions and,if so,the nature of such daims,defenses,set-offs or
<br /> counterdaims. Grarrtor will be condusively bound by any representation that Lender may make to the irrtended transferee with respect to these matters in
<br /> the event that Grantor fails to provide the requested statemerrt in a timely manner.
<br /> 16. DEFAULT. Grantor shall be in defauft under this Deed of Trust and the Trustee's power shall become operative in the evern that Grantor,Borrower or
<br /> any guararrtor of the Obligations:
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to perform any Obligation or breaches any warranty or covenant to Lender coMained in this Deed of Trust or any other present or future
<br /> agreemerrt;
<br /> (c) destroys,loses or damages ihe Property in any material respect or subjects the Property to seizure,confiscation,or condermation;
<br /> (d) seeks to revoke,terminate or otherwise limit its liability under any guararrty to Lender;
<br /> (e) dies,bec�mes legally incompeteM,is dissolved or terminated,becomes insolvent,makes an assignmerrt for the beneflt of cxeditors,fails to pay
<br /> debis as they become due,flles a petition under the federal banlwptcy laws,has an involurrtary petition in banlwptcy filed(n which Grantor,Borrower
<br /> or any guarantor is named,or has property taken under any writ or process of court;
<br /> (� allows goods to be used,transported or stored on the Property,the possession,transportation,or use of which,is illegal;
<br /> (g) allows any party other than Grantor or Borcower to assume or undertake any Obligation without the written consent of Lender;or
<br /> (h) causes Lender to deem itself insecure due to a significant dedine in the value of the Property;or if Lender,in good faith,for any reason,believes
<br /> that the prospect of payment or performance is impaired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a defauft under this Deed of Trust,Lender shall be ernitled to exercise one or more of the following
<br /> remedies without notice or demand(except as required by law):
<br /> (a) to dedare the Obligations inmediately due and payable in full;
<br /> (b) to collect the outstanding Obligations with or without resorting to judiaal process;
<br /> (c) to require Grantor to deliver and make available to Lender any personal property or Chattels constituting the Property at a place reasonably
<br /> conveniern to Grantor and Lender;
<br /> (d) to enier upon and take possession of the Property without applying for or obtaining the appointment of a receiver and, at Lender's option, to
<br /> appoirrt a receiver without bond, without first bringing suit on the Obligations and without otherwise meeting any statutory conditions regarding
<br /> receivers,it being intended that Lender shall have this corrtractual right to appoint a receiver;
<br /> (e) to employ a managing agerrt of the Property and let the same,either in Trustee's own name,in the name of Lender or in the name of Grantor,and
<br /> receive the rents,incomes,issues and proflts of the Property and apply the same,after paymeM of all necessary charges and expenses,on axourrt of
<br /> the Obligations;
<br /> (� to pay any sums in any form or manner deemed expedient by Lender to protect the securiiy of this Deed of Trust or to cure any default other than
<br /> payment of irrterest or prindpal on the Obligations;
<br /> (g) to foredose this Deed of Trust judicially or nonjudicially and to direct the sale of the property through exerdse of the power of sale as referenced in
<br /> paragraph 20 hereof in acccordance with applicable law;
<br /> (h) to set-off Grantor's Obligations against any amourrts owed Grarnor by Lender induding, but not limited to, monies, instrumerrts, and deposit
<br /> axounts mainta(ned with Lender or any currently existing or future affiliate of Lender;and
<br /> (i)to exerase all other rigMs available to Lender under any other written agreemerrt or applicable law.
<br /> Lender's righis are cumulative and may be exerased together, separately, and in any order. In the event that Lender institutes an action seeking the
<br /> recovery of any of the Properry by way of a prejudgmerrt remedy in an action agalnst Grantor, Grantor waives the posting of any bond which might
<br /> othervvise be required. Lender or Lender's designee may purchase the Property at any sale. Proceeds of any Trustee's sale hereunder shall be applied
<br /> first,to the costs and expenses of exerasing the power of sale and of the sale, induding the payment of the Trustee's fees actually incurred and not to
<br /> exceed the amount which may be provided for in this Deed of Trust,second,to payment of the Obligations secured hereby,third,to the paymerrt of junior
<br /> trust deeds,mortgages,or other lienholders,and the balance,if any,to the person or persons legally entitled thereto. The property or any part thereof may
<br /> be sold in one parcel,or in such parcels,manner or order as Lender in its sole discxetion may elect,and one or more exercises of the power herein graMed
<br /> shall not extingufsh or exhaust the power unless the ernire property is sold or the obligations are paid in full.
<br /> 18. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to sell Grantor's interest in the Property by exercise of the power of
<br /> sale herein corriained,Lender shall notify Trusiee in the menner then required by law.
<br /> Upon receipt of such notice of Lender and at the direction of Lender,Trustee shall cause to be recorded,published and delivered such notices of default
<br /> and notices of sale as may then be required by law and by this Deed of Trust. Trustee shall,only at the direction of Lender and without demand on Grarnor,
<br /> afler such time as may then be required by law and after recordat(on of such notice of defauft and after notice of sale having been given as required by law,
<br /> sell the Property at the time and place of sale fixed by it in such notice of sale,either as whole or in separate lots or parcels or items as Lender shall deem
<br /> expedient,and in such order as it may determ(ne,at public auction to the highest bidder for cash in Iawful money of the United States payable at the time of
<br /> sale,or as othervvise may then be required by law. Trustee shall deliver to such purchaser or purchasers thereof its good and suffiaent deed or deeds
<br /> conveying the property so sold, but without any covenarn or warranty, express or implied. The reatals In such deed of any matters or facts shall be
<br /> condusive proof of the truthfulness thereof. Any person,including,without limitation,Grantor,Trustee or Lender,may purchase at such sale. Trustee may
<br /> in the manner provided by law postpone sale of all or any portion of the Property.
<br /> 19. REGIUEST FOR NOTICES: Gramor requests that a copy of any notice of defaufl and a copy of any notice of sale hereunder be mailed to each person
<br /> who is a party hereto at the address of such person set forth herein at the same time and in the same manner required as though a separate request thereof
<br /> had been filed by each such person.
<br /> NEDOTC Rev.1 Z97 0���Q
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