|
- 200 � U4354
<br /> 20. SECURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered and be effective as a financing
<br /> statemerrt and a fixture filing pursuant to the provisions of the Uniform Corm�ercial Code (as adopted in the state where the real property is located)
<br /> awering 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 debtor is
<br /> the Gramor described above. This Deed of Trust will be effective as a finanang statement filed as a fixture filing whh�espect to all 8xtures 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 situated. This
<br /> Deed of Trust shall also be effective as a finandng statemeM covering any other premises and may be filed in any other appropriate filing or recording
<br /> office. A carbon,photographic or other reproduction of this Deed of Trust or of any financing statement relating to this Deed of Trust shall be suffiaerrt as a
<br /> finanang statemerrt for any of the purposes referred to in this Paragraph. The secured party is the Lender described above. Upon demand,Grarrtor shall
<br /> make, execute and delfver such security agreemerrts (as such term is deNned in said Uniform Cormiercial Code) as Lender at any time may deem
<br /> necessary or proper or required to grant to Lender a perfected security irrterest in the Chattels,and upon Grantor's failure to do so,Lender is authorized to
<br /> sign any such agreemerrt as the agern of Grantor. Grantor hereby authorizes Lender to file flnancing statemerns(as such term is defined in said Uniform
<br /> Commerdal Code)with respect to the Chattels,at any time,without the signature of Grarnor. Grarrtor will,however,at any time upon request of Lender,
<br /> sign such financing statemeMs. 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 opfnion of Lender,by said Uniform Commeraal Code. If the lien of this Deed of Trust be subject to any security agreement covering the Chattels,then
<br /> in the evern of any defauft under this Deed of Trust,all the rigM,title and interest of Grantor in and to any and all of the Chattels Is hereby assigned to
<br /> Lender,together with the benefit of any deposiis or payments now or hereafter made thereof by Grantor or the predecessors or successors in title of
<br /> Grantor 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 Grantor or to exercise any rigM or remedy of Lender under this Deed of Trust. Upon demand,Grantor
<br /> shall irmiediately reimburse Lender for all such amouMs expended by Lender together with interest thereon at the lower of the highest rate descxibed in any
<br /> Obligation or the highest rate allowed by law from the date of payment urrtil the daie of reimbursement. These sums shall be induded in the definition of
<br /> Obligations herein and shall be secured by the beneficial interest gramed herein. If the Obligations are paid after the beginning of publication of notice of
<br /> sale,as herein provided,or in the event Lender shall,at its sole option,pemrt Grantor to pay any part of the Obligations after the beginning of publication of
<br /> notice of sale,as herein provided,then,GraMor 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 Trustee 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. APPLICATION OF PAYMENTS. The Trustee shall apply the proceeds of the trustee's sale,first,to the costs and expenses of exerasing the power of
<br /> sale and of the sale,induding the�aymern of the Trustee's fees actually incurred not to exceed the amount which may be provided for in the Deed of Trust,
<br /> second,to paymerrt of the obligation secured by the Deed of Trust,third,to the payment of junior deeds of trust,mortgages or other lienholders,and the
<br /> balance,if any,to the person or persons legally errtitled thereto.
<br /> 23. POWER OF A?TORNEY. Grantor herebyappoiMs Lender as its attomey-in-fact to endorse Gramor's name on all instruments and other documents
<br /> pehaining to the Obligations or Deed of Trust. In addition, Lender shall be errtitled, but not required,to Qerform any action or execute any document
<br /> required to be taken or executed by Grantor under this Deed of Trust. Lender'spe rfomiance of such action or execution of such documerrts shall not
<br /> reheve Grantor 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 /> interest and are irrevocable.
<br /> 24. SUBROGATION OF LENDER. Lender shall be subrogated to ihe rights of the holder of any previous lien, security irrterest or encumbrance
<br /> discharged with funds advanced by Lender regardless of whether these liens,security interests or other encumbrances have been released of record.
<br /> 2b. COLLECTION COSTS. To the exterrt permitted by law,Grantor agrees to pay Lender's reasonable fees and costs,including,but not limited to,fees
<br /> and costs of attomeys and other agents (indudin� wrthout limitation paralegals, cle�lcs and consultants), whether or not such attomey or agent is an
<br /> employ�e of Lender,which are incurred by Lender in collecting any amount due or enforcing any rigM or remedy under this Deed of Trust,whether or not
<br /> suft is brougM,induding,but not limited to,all fees and costs incurred on appeal,in banlwptcy,and fo�post-judgment collection actions.
<br /> 26. PARTIAL RELEASE. Lender may release its irnerest in apo rtion of the Property by executing and recording one or more Partial Deeds of
<br /> Reconveyance without affecting its interest m the remaining porlion of the Property. Nothing herein shall be deemed to obligate Lender to release any of its
<br /> irrterest in the Property(except as required under Paragraph 38 or as may be otherwise required by law),nor shall Lender be obligated to release any part
<br /> of the Property if Grantor is in default under this Deed of 7rust. The lien and secu�'rty irrterest created by the Deed of Trust remain in effect with respect to
<br /> that portion of the property,as defined 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 w�iting signed by Lender. Lender mey perform any of Borrower's or Grantor's Obligations,delay or fail to exerase any of its rights or accept
<br /> paymerrts from Grantor or anyone other than Grantor without causing a waiver of those Obligaiions or rigMs. A waiver on one oocasion shall noi consthute
<br /> a waiver on any other oa;asion. Grarrtor's Obligations under this Deed of Trust shall not be affected if Lender amends,compromises,exchanges,fails to
<br /> exerdse,Impalrs or releases any of the Obligatfons belonging to any Grantor, Borrower or thirdpart y or any of its rigMs against any Grantor,8orrower or
<br /> third party or any of the Property. Lender's fallure to insist upon strict performance of any of the Obligations shall not be deemed a waiver and Lender shall
<br /> have the�igM at any time thereafter to insist upon sirict performance.
<br /> 28. SUBSTITUTE TRUSTEE;TRUSTEE LIABILITY;COMPENSATION. In case of the death,inability,refusal to ac1 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 the Trustee or any substitute trustee as
<br /> trustee hereunder and to appoirrt a new trustee in his place and stead,the holder of the Obligations is hereby graMed full power to appoirrt in writing a
<br /> substitute trustee for said Trustee,and the substitute trustee shall,when appoirned,become successor to all rights of Trustee hereunder and the same shall
<br /> bec�me 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�udgmerrt or act done by Trustee, or be otherwise responsible or accountable under any arcumstances whatsoever.
<br /> Trustee shall not be personally liable in case of errtry by it or anyone acting by virtue of the powers herein grarrted ft upon the Deed of Trust for debts
<br /> comracted or liability or damages incurred in the managemeM or operation of said premises. Trustee shall have the rigM to rely on any instrument,
<br /> document or signature authorizing or supporting any action taken or proposed to be taken by it hereunder or believed by it ingoo d faith to be genuine.
<br /> Trustee shall be entitled to reimbursemerrt for expenses incurred by it in the perfomiance of its duties hereunder and to reasonable compensation for such
<br /> of its servfces hereunder as shall be rendered. Grantor will,from time to time,pay compensation due Trustee hereunder and reimburse Trustee for and
<br /> save and hold it harmless from and against any and all loss,cost,liability,damage and expense whatsoever incurred by it in the performance of its duties.
<br /> All m�neys received by Tn�stee shall,urrtil used or applied as hereinprovided,be held in trust for thepurposes for which they were received,but need not
<br /> be segregated in any manner from any other mcneys(except to the extern required by law) and Trustee shall be under no Ilability for interest on any
<br /> moneys reoeived by it hereunder.
<br /> 29. SUCCESSORS AND ASSIGNS. This Deed of Trust shall be binding upon and inure to the benefit of Grantor and Lender and their respective
<br /> sucxessors,assigns,trustees,receNers,administrators,personal represerrtatives,legatees and devisees.
<br /> 30. NOTICES. Except as othervvise required by law,any notice or other cormunication to be provided under this Deed of Trust shall be in writing and sent
<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 sent by flrst class mail,postage prepaid,shall be deemed given the earlier of three�3)days after such notice is sent or when received
<br /> by the person to whom such notice is being given.
<br /> 31. SEVERABILJTY. Whenever possible,each provision of this Deed of Trust shall be interpreted so as to be effective and valid under applicable 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 continue to be valid and enforceable.
<br /> 32 APPIJCABLE 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 consents to the jurisdiction and venue of any court selected by Lender,in its sole discretion,located in that state.
<br /> 33. MI3CELLANEOU3. Grarrtor and Lender agree that time is of the essence. Grantor waives preserrtment,demand for paymerrt,notice of dishonor and
<br /> protest excepl asrequired by law. All references to Grantor 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 represerrts the complete iMegrated understanding between Grantor and Lender pertaining to
<br /> the terms and conditions hereof.
<br /> 34. NO THIRD PARTY RIGHTS. No person is or shall be a third party benefidary of anyprovision of this Deed of Trust. All provisions of thls Deed of
<br /> Trust in favor of Lender are intended solely for the benefit of Lender,and no third party shall re entitled to assume or expect ihat Lender will not waive or
<br /> consern to the modiflcation of any provision of this Deed of Trust,in Lender's sole dfscretlon.
<br /> 36. PRESERVATION OF LIABILITY AND PRIORITy. Without affecting the liability of Borrower,Grantor,or any guarantor of the Obli�ations,or any other
<br /> person(except a person expressly released in writing)for the payment and perfom�ance of the Obligatfons,and without affecting the nghts of Lender with
<br /> respect to any Property not expressly released in writing,and without impainng in any way the priority of this Deed of Trust over the irrterest of any person
<br /> acquired or flrst evirenced by recording subsequerrt to the reoording of this Deed of Trust,Lender may,either before or after the maturity of the Obligations,
<br /> and without notice or conseM:release any person liable forpaymerrt or perfom�arice of all or any part of the Obligations;make any agreemeM altering the �
<br /> terms of paymarrt orperfomiance of all or any part of the Obligations;exerase or refrain from exerasing or waive any�r1ght or remedy that L.ender may have
<br /> under the Deed of Trust;axept addftional security of any Idnd for any of the Obligations;or release or oiherwise deal with any real or personal property
<br /> securing the Obligatfons. My person acquiring or recording evidenoe of any interest of any nature in the Property shall be deemed, by acqufring sucf�
<br /> irrterest or reoording any evidence thereof,to have conserrted to all or any such actions by Lender.
<br />
|