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<br /> 1S. TA)fcS AND ASSESSMENTS. Grantor shall pay all taxes and assessments relating to the Property when due anct immediately provi�ie Lender
<br /> 'evidence of payment of same, Upon the request of Lender,Grantor shall deposit with Lender each month one-twelfth (1/12)of the estimai�d annual
<br /> insurance premium,taxes and assessments pertaining to the Property. So long as there is no default,these amounts shall be applied to the�rayment
<br /> of taxes,assessments and insurance as required on the Property. In the event of defauit, Lender shall have the right,at its sole option,to apply the
<br /> funds so held to pay any taxes or against the Obligations. Any funds applied may,at Lender's option, be applied in reverse order of the due date
<br /> thereof.
<br /> 16. INSPECTION OF PROPERTY, BOOKS, RECORDS AND REPORTS. Grantor shall allow Lender or its agents to examine and inspect the
<br /> Property and examine,inspect and make copies of Grantor's books and�eco;ds pertaining to the Property from time t:,time. Grantor shall provide
<br /> any assistance required by Lender for these purposes. Ali of the signatures and information contained in Grantor'� books and records shall be
<br /> genuine, true, accurate and complete in all respects. Grantor shall note the existence of Lender's beneficial interast in its books and records
<br /> pertaining to the Property. Additionally, Grantor shall report, in a form satisfactory to Lender, such information as Lander may request rega�ding
<br /> Grantor's financiai condition or the Property. The information shall be tor such periods, shall reflect Grantor's records at duch time, and shall be
<br /> rendered with such frequency as Lender may designate. All information furnished by Grantor to Lender shall be true, acc:�rate and complete in all
<br /> respects,and signed by Grantor if Lender requests.
<br /> 17. ESTOPPEL CERTIFICATES. Within ten (10) days after any request by Lender, Grantor shail deliver to Lender, or any intended transferee of
<br /> Lender's rights with respect to the Obligations,a signed and acknowledged statement specifying (a)the outstanding balance on the Obligations;and
<br /> (b)whether Grantor possesses any claims,defenses, set-offs or counterclaims with respect to the Obligations and, if so,the nature of such clafms,
<br /> defenses,set-offs or counterclaims. Grantor will be conclusively bound by any representation that Lender may make to the intended transferee with
<br /> respect to these matters in the event that Grantor faiis to provide the requested statement in a timely manner.
<br /> 18. EVENTS OF DEFAULT. An Event of Default shail occur under this Deed of Trust and the Trustee's power shall become operative in the event that
<br /> Grantor,Borrower or any guarantor of the Obiigations: �
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to perform any Obligation or breaches any wa�ranty or covenant to Lender contained in this Deed of Trust or any other present or future
<br /> c es ro s, oses or ama �--••.— - �m-
<br /> Y zu ,con sc ion,or'�on emnation;
<br /> (d) seeks to revoke,terminate or otherwise limit its liability under any guaranty to Lender;
<br /> (e) dies,becomes tegally incompetent,is dissolved or terminated,becomes insolvent,makes an assignment for the benefit of creditors,fails to
<br /> pay debts as they become due,files a petition under the federal bankruptcy laws,has an involuntary petition in bankruptcy filed in which Grantor,
<br /> Borrower or any guarantor is named,or has property taken under any writ or process ot court;
<br /> (f) allows goods to be used,transported or stored on the Property,the possession,transportation,or use of which,;s illegal;
<br /> (g) allows any party other than Grantor or Borrower to assume or undertake any Obligation without the written cons4nt 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, 'n good faith, for any reason,
<br /> believes that the prospect of payment or performance is impaired.
<br /> 19. RIGHTS OF LENDER ON EVENT OF DEFAULT. Upon the occurrence of an Event of Default under this Deed of Tn�st,Lender shall be entitled to
<br /> exercise one or more of the following remedies without notice or demand (except as required by law):
<br /> (a) to declare the Obligations immediately due and payuble in full,such accelerstion shaA be automatic and immecllate if the Event of Default is
<br /> a filing under the Bankruptcy Code;
<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 /> convenient to Grantor and Lender;
<br /> (d) to enter upon and take possesaion of the Property without applying for or obtaining the appointment of a receiver and,at Lender's option.to
<br /> appoint a receiver without bond,without first bringing suit on the Obligations and without othervvise meeting any statutory conditions regarding
<br /> receivers,it being intended that Lender shall have this contractual right to appoint a receiver; �
<br /> (e) to employ a managing agent of the Property and let the same, either in Trustee's own name, in the name of Lender or in the name of
<br /> Grantor, and receive the.rents, incomes, issues and profits of the Property and apply the same, after payment of all necessary charges and
<br /> expenses,on account of the Obligations;
<br /> (f) to pay any sums in any form or manner deemed expedient by Lender to protect the security of this Deed of Trust or to cure any default other
<br /> than payment of interest or principal on the Obligations;
<br /> (g) to foreclose this Deed of Trust judicially or nonjudicially and to direct the sale of the property through exercise of the power of sale as
<br /> referenced in paragraph 20,herein,in accordance with applicable law;
<br /> (h)to set-off Grantor's Obligations against any amounts owed Grantor by Lender including,but not limited to,monies, instruments,and deposit
<br /> accounts maintained with Lender or any currently existing or future affiliate of Lender;and
<br /> (i)to exercise all other rights available tc Lender under any othar�vritten ag�eemer.t or aFplicable iaw.
<br /> ii �4 s1 ha cised together,separately,and in any order. In the event that Lender institutes an action seeking
<br />�`-' ;��'^��T n��� � ' . a4�tPent rem�dy in an action against Grantor,Grantor waives the posting of any bond which
<br /> mtght otherwise be required. Lender or nder's designee may purchase the Property at any sale. Proceeds of any Trustee's saie hereunder
<br /> sf�all be applied first, to the costs and expenses of exercising the power of sale and of the sale, including the Ft�yment of the Trustee's fees
<br /> actually incurred and not to exceed the amount which may be provided for in this Deed of Trust,second,to paym�rt of the Obligations secured
<br /> hareby, third, to the payment of junior trust deeds, mortgages, or other fienholders, a�d the balance, if any, to?he person or persons legally
<br /> e��titled thereto. The Property or any part thereof may be sold in one parcel,or in such parce�s,manner or order a; Lender in its sole discretion
<br /> n�ay elect,and one or more exercises of the power herein granted shall not extinguish or exhaust the power un�ess the entire Property is soid or
<br /> tf�e obligations are paid in full.
<br /> 20. TRUSTEE'S EX�RCISE OF POWER OF SALE ON DEFAULT. Upon default by Borrower in payment of any Obligations secured hereby, Lender
<br /> may declare all sums,seciared hereby,immediately due and payable and shall cause to be filed of record a written not:ce of default and election to
<br /> sell the Property. Aiter the lapse of such time as then may be required by law following recordation of such notice of default, and notice of sale
<br /> having been given as then required by law,Trustee,without demand on Grantor,shall sell such Property,either as a whc�'e or in separate parcels,and
<br /> in sucli order as it or Lencier may determine, at public auction to the highest bidder. Trustee may postpone the sale of all or any portion of the
<br /> Property by public announcement at the time and place of sale,and from time to time thereafter may postpone the sale by public announcement at
<br /> the time and place fixed by the preceding postponement. Trustee shali deliver to such purchaser its deed conveying the property,or portion thereof,
<br /> so solcl, but without any covenant or warranty,express or implied. The recitals in such deed of any matters of fact or otherwise,shall be conclusive
<br /> proof of the truthfulness thereof. Any person,including Grantor,Trustee or Lender,may purchase at such sale.
<br /> 21. R[�QUEST FOR NOTICES. Grantor requests that a copy of any notice of default and a copy of any notice of sale hereunder be mailed to each
<br /> person 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
<br /> request thereof had been filed by each such person.
<br /> 22. S[CURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered a financing statement and a
<br /> fixture filing pursuant to the provisions of the Uniform Commercial Code (as adopted in the state where the Property is located) covering fixtures,
<br /> chattels,and articles of personal property now owned or hereafter attached to or to be used in connection with the Property together with any and all
<br /> replacements thereof and additions thereto (the"Chattels"),and Grantor hereby grants Lender a security interest in suah Chattels. The debtor is the
<br /> Grantor described above. The secured party is the Lender described above. Upon demand, Grantor shall make,exe:;ute and deliver such security
<br /> agreements(as such term is detined in said Uniform Commercial Code)as Lender at any time may deem necessary or proper or required to grant to
<br /> Lender a perfected security interest in the Chattels,and upon Grantor's failure to do so,Lender is authorized to sign any such agreement as the agent
<br /> of Grantor. Grantor hereby authorizes Lender to file financing statements(as swch term is defined in said Uniform Com�riercial Code)with respect to
<br /> the Ch.�ttels,at any time,evithaut tho signature et Grantoc Grantor will,however,at any ti g e upon req��g���_xf��4�acsci[�y statements.
<br /> Granfor will pay all filing fees for ths filing of such financing statements and for tnc refi�in iheroof at;�e times re u�re n he opinion of Lend9r,by
<br /> said U�iiform Commercial Code. If the lien of this Deed of Trust is subJect to any security agreement covering the Ch2ttels,then in the event of any
<br /> defauli under thfs Deed of Trust,ali the right,title and interest of Grantor in and to any and all of the Chattels is hereby assigned to Lender,together
<br /> with the benefit of any deposits or payments now or hereafter made thereof by Grantor or the predecessors or successors in title of Grantor in the
<br /> Property.
<br /> 23. RFIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender,at Lender's option,may expend funds(including attorneys'fees and legal
<br /> expen�es)to perform any act required to be taken by Grantor or to exercise any right or remedy of Lender under this Ceed of Trust. Upon demand,
<br /> Grantor shall immediately reimburse Lender for all such amounts expended by Lender together with interest thereon a�the lower of the highest rate
<br /> descrit>ed in any Obligation or the highest rate allowed by ;aw from the date of payment until the date of reimbursement. These sums shall be
<br /> includ�d in the definition of Obligations herein and shall be secured by the beneficial interest granted herein. If the f�bligations are paid after the
<br /> beginning of publication of notice of sale, as herein provided,or in the event Lender shall, at its sole option, permit Crantor to pay any part of the
<br /> Obiigations after the beginning of publication of notice of sale,as herein provided,then, Grantor shall pay on demand all expenses incurred by the
<br /> Trustee and Lender in connection with said publication,including reasonable attorneys'fees to the attorneys for the Trustee and for the Lender,and a
<br /> reasonable fee to the Trustee,and this Deed of Trust shall be security for all such expenses and fees.
<br /> 24. A�PLICATION OF PAYMENTS. All payments made by or on behalf of Grantor may be applied against the amounts paid by Lender (including
<br /> attorneys'fees and legal expenses)in connection with the exercise of its rights or remedies described in this Deed of Trust and then to the payment �
<br /> of the remaining Obligations in whatever order Lender chooses. i
<br /> 25. POWER OF ATTORNEY. Grantor hereby appoints Lender as its attorney-in-fact to endorse Grantor's name on afi instruments and other
<br /> documents pertaining to the Obligations or Deed of Trust. In addition,Lender shall be entitled,but not�equired,to perforn any action or execute any
<br /> document required to be taken or executed by Grantor under this Deed of Trust. Lender's petformance oi such action or execution of such
<br /> documents shall not relieve Grantor from any Obligation or cure any de',auli under this Deed of Trust. All powers of attorney described in this Deed of
<br /> Trust are coupled with an intorest and are irrevocable.
<br /> 26. SUBROGATION OF LENDER. Lender shall be subrogated to the rights of the holde;� of any previous lien, security interest or encumbrance
<br /> discharged with funds advanced by Lender regardless of whether these liens,security interests or other encumbrances have been released of record.
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