|
� - 200� 0020�
<br /> 20. SECURITY INTERE3T UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered and be effective as a financing
<br /> Statemerri and a fixture filing pursuant to the provisions of the Uniform Commercial Code (as adopted in the state where the real property is located)
<br /> covering fixtures,chattels,and artides of personal property now owned or hereafter attached to or to be used in connection with the Property together with
<br /> any and all replacements thereof and additions thereto(the"Chattels"),and Grarrtor hereby grants Lender a security interest in such Chattels. The deblor is
<br /> the Grantor described above. This Deed of Trust will be effective as a finanang statement filed as a flxture filing with respect to all fixtures induded within
<br /> said premises and is to be filed for record in the real estate records of each county where any part of said premises(induding said fixtures)is shuated. This
<br /> Deed of Trust shall also be effective as a finanang statemerrt covering any other premises and may be filed in any otherappropriate filing or recording
<br /> office. A carbon,photographic or other reproduction of this Deed of Trust or of any finanang statemem relating to this Deed of Trust shall be sufficient as a
<br /> finanang siaiemem for any of the purposes referred to in this Paragraph. The secured party is the Lender described above. Upon demand,Grantor shall
<br /> make, execute and deliver such security agreements (as such term is deflned in said Uniform Cormiercial Code) as Lender at any time may deem
<br /> necessary or proper or required to grarrt to Lender a perfected security interest in the Chattels,and upon Grantor's failure to do so,Lender is authorized to
<br /> sign any such agreemeM as the agent of Grarrtor. Grantor hereby authorizes Lender to file finanang statemerrts(as such term is defined in said Uniform
<br /> Corrmeraal Code)with respect to the Chattels,at any time,without the signature of Grantor. Grantor will,however,at any time upon request of Lender,
<br /> sign such finanang statemerrts. Grantor will pay all filing fees for the filing of such finanang statemerrts and for the refiling thereof at the times required,in
<br /> the opinion of Lender,by said Uniform Comrnerdal Code. If the Ilen of this Deed of Trust be subject to any security agreement covering the Chattels,then
<br /> in the event of any default under this Deed of Ttust,all the right,title and interest of Grantor in and to any and all of the Chattels is hereby assigned to
<br /> Lender, together with the beneftt of any deposits or payments now or heresiter made thereof by Grantor or the predecessors or successors in title of
<br /> Grarnor in the Property.
<br /> 21. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender,at Lender's option,may expend funds(induding attomeys'fees and legal
<br /> expenses)to perform any act required to be taken by Grarrtor or to exerase any right or remedy of Lender under this Deed of Trust. Upon demand,Grarnor
<br /> shall irtmediately reimburse Lender for all such amounts expended by Lender together with irrterest thereon at the lower of the highest rate described in any
<br /> Obligation or the highest rate allowed by law from the date of payment until the date of reimbursemeM. These sums shall be induded in the deflnition of
<br /> Obligations herein and shall be secured by the benefiaal interest grazrted herein. If the Obligations are paid after the beginn(ng of publication of notice of
<br /> sale,as herein provided,or in the event Lender shall,at fts sole option,pemit Grantor to pay any part of the Obligations after the beginning of publication of
<br /> notice of sale,as herein provided,then,Grantor shall pay on demand all expenses incurred by the Trustee and Lender in connection with said publication,
<br /> induding reasonable attomeys'fees to the attomeys for the Trusiee and for the Lender,and a reasonable fee to the Trustee,and this Deed of Trust shall be
<br /> security for all such expenses and fees.
<br /> 22 APPLJCATION OF PAYMENTS. The Trustee shall apply the proceeds of the trustee's sale,first,to the costs and expenses of exercising the power of
<br /> sale and of the sale,induding the paymerrt of the Trustee's fees actually incurred noi to exceed the amount which may be provided for in the Deed of Trust,
<br /> second,to paymern of the obligation secured by the Deed of Trust,third,to the payment of junior deeds of lrust,mortgages or other lienholders,and the
<br /> balance,if any,to the person or persons legally errtitled thereto.
<br /> 23. POWER OF ATTORNEY. Grantor herebyappoints Lender as its attomey-in-fact to endorse Grarnor's name on all instrumeMs and other documerrts
<br /> pertaining to the Obligations or Deed of Trust. In addition, Lender shall be ernitled, but not required,to perform any action or execute any document
<br /> required to be taken or executed by Grantor under this Deed of Trust. Lender'spe rtormance of such action or execution of such documents shall not
<br /> relieve Grarnor from any Obligation or cure any default under this Deed of Trust. All powers of attomey described in this Deed of Trust are coupled with an
<br /> irrterest and are iRevocable.
<br /> 24. SUBROGATION OF LENDER. Lender shall be subrogated to the rights of the holder of any previous lien, security irrterest or encumbrance
<br /> discharged with funds advanced by Lender regardless of whether ihese liens,security interests or other encumbrances have been released of record.
<br /> 25. COLLECTION COSTS. To the e�Aent pemrtted by law,Grarrtor agrees to pay Lender's reasonable fees and costs,induding,but not limited to,fees
<br /> and costs of attomeys and other agents (indudin$wrthout limitation paralegals, clerks and consultants), whether or not such attomey or agerrt is an
<br /> employee of Lender,which are incurred by Lender in collecting any amount due or enforang any right or remedy under this Deed of Trust,whether or not
<br /> suit is brougM,including,but not limited to,all fees and costs incurred on appeal,in baniwptcy,and for post-judgmerrt collection actions.
<br /> 26. PARTIAL RELEASE. Lender may release its iMerest in apo rtion of the Property by executing and recording one or more Partial Deeds of
<br /> Reconveyance without affecting its imerest in the remaining portion of the Property. Nothing herein shall be deemed to obligate Lender to release any of its
<br /> interest in the Property(except as required under Paragraph 38 or as may be otherwise reqwred by law),nor shall Lender be obligated to release any part
<br /> of the Property if Grarnor is in default under this Deed of trust. The lien and security iMerest created by the Deed of Trust remain in effect with respect to
<br /> that portion of the property,as deflned in the Deed of Trust,that is not the subject of this or any Partial Deed of Reconveyance
<br /> 27. MODIFICATION AND WAIVER. The modification or waiver of any of Grantor's Obligations or Lender's rigMs under this Deed of Trust must be
<br /> contained in a writing signed by Lender. Lender may perform any of BoRower's or Grarrtor's Obligations,delay or fail to exerdse any of its rigMs or accepl
<br /> payments from Grantor or anyone other than Grantor without causing a walver of those Obligations or rigMs. A waiver on one occasion shall not consthute
<br /> a waiver on any other oxasion. Grantor's Obligations under this Deed of Trust shall not be affected if Lender amends,compromises,exchanges,fails to
<br /> exerdse,impairs or releases any of the Obligatfons belonging to any Grarrtor,Borrower or thirdparty or any of its rfgMs against any Grarnor,8orcower or
<br /> third party or any of the Property. Lender's fatlure to insist upon strict perfom�ance of any of the Obligations shall not be deemed a waiver and Lender shall
<br /> have the rigM at any time thereafter to inslst upon strict performance.
<br /> 28. SUBSTITUTE TRUSTEE;TRUSTEE LIABILITY;COMPENSATION. In case of the death,inabiliry,refusal to act or absence of the Trustee from the
<br /> state where the real property is located or in case the holder of the Obligations shall desire for any reason to remove ihe Trustee or any substiiute trustee as
<br /> trustee hereunder and to appoint a new trustee in his place and stead,the holder of the Obligations is hereby grarned full power to appoirrt in writing a
<br /> substitute trustee for said Trustee,and the substhute trustee shall,when appoirrted,become successor to all rights of Trustee hereunder and the same shall
<br /> become vested in him for the purposes and objects of this Deed of Trust with all the power,duties and obligations herein conferred on the Trustee. Trustee
<br /> shall not be liable for any error of�udgment or act done by Trustee, or be otherwise responsible or accountable under any arcumstances whatsoever.
<br /> Trusiee shall not be personally liable in case of entry by it or anyone acting by virtue of the powers herein granted it upon the Deed of Trus1 for debts
<br /> corrtracted or liability or damages incurred in the mana�emerrt or operation of said premises. Trustee shall have the ri$M to rel on any instrument,
<br /> documerrt or signature suthorizing or support(ng any action taken orproposed to be taken by it hereunder or believed by n in�fafth to be genuine.
<br /> Trustee shall be entitled to re(mbursemern for expenses incurred by it in the perforrrrdnce of its duties hereunder and to reason e compensation for such
<br /> of its services hereunder as shall be rendered. Gramor will,from time to time,pay compensation due Trustee hereunder and reimburse Trustee for and
<br /> save and hold it hamiless from and against any and all loss,cost,liability,damage and expense whatsoever incurred by it in the perfomiance of its dutles.
<br /> All moneys received by Trustee shall,urrtil used or applied as hereinprovided,be held in trusl for thepurposes for which they were received,but need not
<br /> be segregated in any manner from any other moneys(except to the e�ent required by law) and Trustee shall be under no liability for interest on any
<br /> moneys received by it hereunder.
<br /> 29. SUCCESSORS AND ASSIGN3. This Deed of Trust shall be bind(n� upon and inure to the benefil of Grantor and Lender and their respective
<br /> suocessors,assigns,trustees,reoeivers,administrators,personal representatroes,legatees and devfsees.
<br /> 30. NOTICES. Except as otherwise required by law,any notice or other corrxrxmication to be provided under this Deed of Trust shall be in wriiing and serrt
<br /> to the parties at the addresses described in this Deed of Trust or such other address as the parties ma designate in writing from time to time. Any such
<br /> notice so given and serrt by first dass mail,postage prepaid,shall be deemed given the earlier of three�3)days after such notice is serrt or when received
<br /> by the person to whom such notice is being given.
<br /> 31. SEVERABILITY. Whenever possible,each provision of this Deed of Trust shall be irnerpreted so as to be effective and valid under appflcable state
<br /> law. If any provision of this Deed of Trust violates the law or is unenforceable,the rest of the Deed of Trust shall corrtinue to be valid and enforceable.
<br /> 32 APPLICABLE LAW. This Deed of Trust shall be govemed by the laws of the state where the real property is located. Unless applicable law provides
<br /> otherwise,Grantor conseMs to the jurisdiction and venue of any court selected by Lender,in its sole discretion,located in that state.
<br /> 33. MISCELLANEOU3. Grantor and Lender agree that time is of the essence. Grantor waives presentment,demand for payment,notice of dishonor and
<br /> protest except as required by law. All references to Grarnor in this Deed of Trust shall indude allpersons signing below. If there is more than one Grantor,
<br /> their Obligations shall be�'oint and several. This Deed of Trust represerns the complete irnegrated understanding beiween Grantor and Lender pertaining to
<br /> the terms and conditions hereof.
<br /> 94. NO 7HIRD PARTY RIGHTS. No person is or shall be a third party beneficiary of any provision of this Deed of Trust. All provisions of this Deed of
<br /> Trust in favor of Lender are imended solely for the beneflt of Lender,and no third party shall be errtitled to assume or expect that Lender will not waive or
<br /> consent to the modification of any provisio�of this Deed of Trust,in Lender's sole discretion.
<br /> 35. PRESERVATION OF UABILITY AND PRIORITY. Without affecting the liability of Borrower,Grantor,or any guarantor of the Obligations,or any other
<br /> person(except a person expressly released in writing)for the payment andperformance of the Obligations,and wfthout affecting the rigMs of Lender with
<br /> respect to any Property not expressly released in writ(ng,and without impairing in any way the prioriry of this Deed of Trust over the irrterest of any person
<br /> acquired or first evidenced by recording subsequent to tfie recording of this Deed of Trust,Lender may,either before or after the maturity of the Obligations,
<br /> and without notice or consern:release any person liable fo�r� paymsm or performence of all or any part of the Obligations;make any agreement ahering the
<br /> terms of paymerrt orperformence of all or any part of ihe Obligations;exerdse or refrain from exercising or waive any rigM or remedy that Lender may have
<br /> under the Deed of Trust;accept additional sea�rity of any Idnd for any of the Obligations;or release or othervvise deal with any real or personal property
<br /> securing the Obligations. My person acqui�ing or recording evidence of any irrterest of any nature in the Property shall be deemed, by acquiring sucF�
<br /> irrterest or recording any evidence ihereof,to have conserrted to all or any such actions by Lender.
<br />�
<br />
|