201500205 - Laserfiche WebLink

Browse

��15��5 DEED ��F TF�UST Loan-No: ��8'1 a94 ��ontinued} Page � �Cvmp[tanGe ❑efaul�. Failure �o comp�y wi�h any other �erm, abligat€on, co�enant ❑r candition cvntained in this �]eed of Trust,the Note ar in any of the Related Dacuments. �Default on Qther Payments. Failure of Trustor within�he time required by this Deed o�Trus�to ma�e any payment �or taxes ar insurance, or any❑ther payment nec�ssary to pre��n��iling af❑r to eff�ct discharge ot any lien. Faise 5tatements. Any representatian or statemen� made ❑r furnish�d �to Lender by Trustor vr an Trusfivr's behalfi under this Deed o�Trusfi❑r the Related �acumen�s is�alse or misleading in any material respe�t, either naw or a� the time made❑r�urnished. • - ❑efect�ve Colla#eraiiza�ion. This �3eed ❑�f Trust or any n� �he Related Documen�s ceases �a be in full farce and � , effecfi �including failure o� any colla�eral dacument to cr�ate a �alid and p�rfe�ted securifiy infierest ❑r lien} at any time and#o�-any reasvn. � Death ❑r Insvlvency. The death a�Trustor,the insol�ency af Trus�or,�he appvintment of a recei�er for any part o� : Trustor's proper�y, any assignment far �he bene�fi� ❑f �redi�ors, any �ype of creditar workvut, or the commencemen�❑f any proceeding under any bankruptcy ar�nsol�ency laws by or agains�t Trustor. � , Taking of �he Property. Any c�-edi�or or go�ernmental agency �ries fiv �ake any of fihe Property ar any ❑�her ❑f Trust�r's p�-oper�y in which Lender has a lien. This includes taking ❑�, garnishing of or le�ying on Trus�or's� � accoun�ts with Lender. Howe�er, if Trustar disputes in good -�aith whether the claim on which �he �aking v� the ; Property is based is �a�sd ar reas�nable, and i�F Trustvr gi�es Lender wri��en notice ❑f the claim and �urnishes Lender wi�h manies or a sur�ty bond satisfactory to Lender t❑ satisfy the claim,then�this defaul�provisivn wil� nvt � app�Y• ; Brea�h vf a�her Agreement. Any E�reach by Trus�or under the t�rms of any ather agreement between Trusfivr and � Lender �ha� is not remedied within any grace period pro�ided �herein, in�luding withaut limi�a�ion any agreement ' can�erning any indebtedness or ofiher vlafigation❑f Trus�or to Lender, whefiher exis�ing now vr later. � E�ents A�ffecting Guarantvr. Any ❑�the preceding e�ents ❑ccurs with respect to any guarantor, endorser, surety, ❑r accvmmodatian party ❑f any af the [ndebtedness or any guarantar, endorser, surety, ar accommvdativn party dies ❑r becomes �ncompet�nt, or re��kes ��- disputes �he �alidity o�F, ar liabEEity unde�-, any Guaran�y o� the � Indebtedness. � , .. ; Insecuri�y. Lender in govd�ai�h believes i�self insecure. � Existing Indehfiedness. The paymen�❑f any instalimen�of prin�ipal or any in�erest on the Existing lndehtedness is not made wifihin the fiime required by fihe promissory nv�e evidencing su�h indebfiedness, vr a de�ault vc�urs under the ins�rumen�securing such indebtedness and is not cured during any app�icable g�-ace period in such instrument, or any su�fi or v�he�-ac�ion is cvmmenced fiv foreclase any exis�ing lien on fihe Prvperty. � � Right to Cu�re. 1�any de�aul�, ❑ther than a defau[t in paymenfi is curable and.�if Trustor has not been giWen a n�tE�e af a brea�h of the same proWisivn❑f this Deed vf Trust within the preceding�we��e �'i�} m�n�hs, i�may be cured i� Trustor, af�er Lender sends wri�ten notice�o T�ustor demanding cure of such defauit: {'i} cures the defauit wifihin ten {��} days; or �2� if fihe cure requires more than�en {�0� days, �mmediateEy initiates sfieps which Lender deems � in Lender's sole discrefion ta be su��i�ien�to cure the default and�hereaf-ker�on�inues and comp�etes all r�asonable and necessary sfieps suffi�ient fio prvduce complian�e as svan as reas�nably p�-actical. ; RIGHTS AND REMEDIES DN DEFAULT. I� an E�en�of Default❑ccurs under this Deed ❑f Trust, at any�ime fihereafter, Trustee or Lender may exercise any vne or more of the�Fvllvwing rights and remedies: Acce�era�ivn Upvn Defauit;Additivnal Remedies. lf any E�ent❑f Default occurs as per the�erms ❑f the Nvte secured herelay, Lender may dec�are all �ndebfiedness secured by fihis Deed vf Trust�o be due and payab�e and the same shafl thereupvn becvme due and payabfe withvut any presentment, demand, protest or no�ice ofi any kind. Thereafter, Lender may: �a� Ei�her in pers�n or by agent, wEth or w�thnu� bringing any ac�ion or proceeding, ar by a receiver appainted by a court and without regard ta�the adequa�y❑fi its secur�ty� enfie�upfln and�ake p�ssession of th� Property, vr any par�the�eaf,�in its vwn name or in the name af Trustee, and da any acts which it deems necessary ar desirable�o preser�e�he�aiue, marke�abili�y ar ren�abi[ity of�he Property, ❑r part of �he Proper�y or in�erest in �he Prvperty; increase�he inc�me from the Property or pro�ect the security ❑� �he Proper�y; and, with �r without taking passessi�n ❑f �he Property, sue �or or atherwise �vllect �he ren�s� issues and profi�s af the Property, incfuding thvse past due and unpaid. and apply the same, [ess costs and�xpenses ❑f operatian and collection attorneys' fees,�o any indeb�edness secured by this aeed of Trus�, al1 in such ❑rder as Lender may de�ermine. The entering upon and taking passession af the Praperty, �he collection ❑f such rents, issues and profEts, and �he appli�a�ion �hereof sha[l not cure or wai�e any de�ault�r no�ic� of default under fihis �eed ❑fi Trust or �n�aEEda�e any act dvne in response ta su�h default or pursuant to such nvtice❑f defauEt; and, notwiths�anding�he continuance in pvssessivn of the Property ❑r the coliection, receip� and application ❑� ren�s, issues ❑r prv�its, Trustee or Lender shal� be en�i�led t❑ exercise e�ery righ� prv�ided fvr in�he Nate ❑r the R�lated Documents or by law upan�he . occurrence❑�any e�en�v�default, including the righ�ta exercise the power❑�sale; {b} Cammence an a�tion to�oreclvse this ❑eed o�Trust as a mor�gage, appoint a recei�er❑r spec��ri�ally enfarce any�f the cvWenants hereo�; and .