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- 200 �U0354
<br /> ' 11. LfNDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall irrmediately provide Lender with written notice of any actual or
<br /> threatened action,suit,or other proceeding affecting the Properry. GraMor hereby appoirrts Lender as its attomey-in-fact to cormience,irrtervene in,and
<br /> da+fend such aclions,suhs,or other legal proceedings and to compromise or settle any daim or cornroversy pertaining thereto. Lender shall not be liable to
<br /> Grantor for any action,error,mistake,omission or delay pertaining to the actions described in ihis paragraph or any damages resufting therefrom. Nothing
<br /> contained herein wlll prevern Lender from taldng the actions described in this paragra�in its own name.
<br /> 12 INDEMNIFICATION. Lender shall not assume or be responsible for the performance of any of GraMor's obligations with respect to the Property under
<br /> any arcumstances. Grantor shall immediately provide Lender with written notice of and indermify and hold Lender and its shareholders,directors,officers,
<br /> employees and agents harmless from all daims, damages, IiabiUtfes (induding 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 involving Hazardous Materials). Grantor,upon
<br /> the request of Lender,shall hire legal counsel to defend Lender from such Claims,and pay the attomeys'fees,legal expenses and bther costs incurred in
<br /> connection therewRh. In the altemative, Lender shall be entitled to employ its own legal counsel to defend such Claims at Grarnor's cost. Grantor's
<br /> obligation to indermify Lender under this paragraph shall survive the termination,release or foredosure of this Deed of Trust.
<br /> 13. TAXES AND ASSESSMENTS. Grarrtor shall pay all taxes and assessmems relating to Property when due and irrmediately provide Lender evidence
<br /> of payment of same. Upon the request of Lender, Grantor shall deposit with Lender each month one-twelfth (1/12) of the estimated annual insurance
<br /> premium, taxes and assessments pertalning to the Property. So long as there is no default,these amounts shall be applied to 1he paymam of taxes,
<br /> assessments and insurance as required on the Property. In the evern of default,Lender shall have ihe rigM,at its sole option,to apply the funds so held to
<br /> pay any taxes or against the Obligat(ons. Any 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 Properry
<br /> and examine,inspect and make copies of Gramor's books and records pertaining to the Properry from time to time. Grarnor shall provide any assistance
<br /> required by Lender for these purposes. All of the signatures and infortnation contained in Grantor's books and records shall be genuine,true,accurate and
<br /> complete in all respects. Grantor shall note the existence of Lender's beneficial interest in its books and records pertaining to the Property. Additionally,
<br /> Grantor shall report,in a form satisfactory to Lender,such information as Lender may request regarding Grarnor's financial condition or the Property. The
<br /> infomration shall be for such periods,shall reflect Grarnor's records at such time,and shall be rendered with such frequency as Lender may designate. All
<br /> infortnation fumished by Grantor to Lender shall be true,accurate and complete in all respects,and signed by Grantor if Lender requests.
<br /> 15. ESTOPPEL CERTIFICATES. Within ten(10)days afler any request by Lender,Grarrtor shall deliver to Lender,or any intended transferee of Lender's
<br /> rights with respect to the Obligations,a signed and acknowledged statemern specifying(a)the outstanding balance on the Obligations;and(b)whether
<br /> GraMor possesses any daims,defenses,set-offs or cournerclaims whh respect to the Obligations and,if so,the nature of such claims,defenses,set-offs or
<br /> courrterdaims. Grantor will be condusively bound by any representation that Lender may make to the intended transferee with respect to these matters in
<br /> the event that Grantor fails to provide the requested statement in a timely manner.
<br /> 16. DEFAULT. Grantor shall be in default under this Deed of Trust and the Trustee's power shall become operative in the event that Grarrtor,Borrower or
<br /> any guarsntor of ihe 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 contained in this Deed of Trust or any other present or future
<br /> agreemern;
<br /> (c) destroys,loses or damages the 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 guaranty to Lender;
<br /> (e) dies, becomes legally incompetent, is dissobed or terminated,becomes insolvent,makes an assignmern for the benefit of creditors,fails to pay
<br /> debts as they bec;ome due,files a petition under the federal banlwplcy laws,has an irnolurrtary petition in bankruptcy filed in which Grantor,Borrower
<br /> or any guararrior 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 Borrower to assume or undertake any Obligation whhout the written consent of Lender;or
<br /> (h) causes Lender to deem itself insecure due to a significant decline 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 DEFAU�T. If there is a default under this Deed of Trust, Lender shall be emitled to exerdse one or more of the following
<br /> remedies without notice or demand(except as required by law):
<br /> (a) to dedare the Obligations iRmediately due and payable in full;
<br /> (b) to collect the outstanding Obligations with or without resorting to judicial 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 /> convenierrt to Grantor and Lender;
<br /> (d) to errter upon and take possession of the Property whhout applying for or obtaining the appoirrtment of a receiver and, at Lender's option,to
<br /> appoiM a receber without bond, without first bringing suit on the Obligations and wilhout othervvise meeting any statutory condftions regarding
<br /> receivers,it being intended that Lender shall have this contractual rigM to appoint a receiver,
<br /> (e) to employ a managing ageni 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 retrts,incomes,issues and profits of the Property and apply the same,aRer paymerrt of all necessary charges and expenses,on accourrt of
<br /> the Obligations;
<br /> (� to pay any sums in any form or manner deemed expedient by Lender to protect the security of thls Deed of Trust or to cure any default other than
<br /> paymerrt of iMerest or prinapal on the Obligations;
<br /> (g) to foredose this Deed of Trust judlcfally or nonjudicially and to direct the sale of the property through exercise of the power of sale as referenced in
<br /> peragraph 20 hereof in acccordance with applicable Iaw;
<br /> (h) to set-off Grantor's Obligations against any amounts owed Grantor by Lender induding, but not limited to, monies, instrumerrts, and deposit
<br /> accounts maintained with Lender or any currently existing or future affilfate of Lender;and
<br /> (i)to exerdse all other rigMs available to Lender under any other written agreemeM or applicable law.
<br /> Lender's rigMs are cumulatNe 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 Property by way of a prejudgmeM remedy in an action against Grantor, Grantor waives the posting of any bond which MgM
<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 exerdsing the power of sale and of the sale,including the payment of the Tn�stee's fees actually incuRed 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 payment of junior
<br /> trust deeds,mortgages,or other lienholders,and the balance,if any,to the person or persons legally enthled thereto. The property or any part thereof may
<br /> be sold in one parcel,or in such percels,manner or order as Lender in its sole discretion may elect,and one or more exerases of the power herein grarned
<br /> shall not extinguish or exhaust the power unless the ernire property is sold or ihe obligations are paid in full.
<br /> 18. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to sell Grarrtor's iMerest in the Property by exerase of the power of
<br /> sale herein contained,Lender shall notify Trustee in the manner 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 Grantor,
<br /> after such time as may then be required by law and after recordation of such notice of default and after notice of sale having been given as required by law,
<br /> sell the Property at the time and place of sale flxed by it fn such notice of sale,either as whole or in separate lots or parcels or kems as Lender shall deem
<br /> expedient,and in such order as it may determine,at public suction to the highest bidder for cash in lawful money of the United States payable at the time of
<br /> sale,or as otherwise may then be required by law. Trustee shall deliver to such purchaser or purchasers thereof its good and suNiaent deed or deeds
<br /> corneying the property so sold, but without any covenant or warraniy, express or implied. The recitals in such deed of any matters or facts shall be
<br /> condusive proof of the truthfulness thereof. Myperson,induding,without limitation,Grarnor,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. RE�UEST FOR NOTICES: Grantor requests that a copy of any notice of defauft 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.
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<br /> NF�OTC Rav_19A7
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