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��15�1343
<br /> DEED �F TRUST
<br /> Laan Noa 1�]'I��3�94 ��ontinued� Page �
<br /> Paymen�Default. Trustar fa�ls�❑ malc� any payment when due under�he lndebtedness.
<br /> Break �ther Prom'rses. Trus��r b�eaks any pramise made to Lender ar �ails �❑ perform prvmptly a� the t3me and
<br /> stric�ly�n�he manner pra�ided in this Deed of Trust or in any ac�reement relat�d ta�his Deed af Trust.
<br /> Compliance Defaul�. Failure t� comply wifih any ather fierm, obEigation, ���enant or c�nditi�n contained in this
<br /> Deed af Trust, the N�te or in any�f the Related D�cuments.
<br /> Default on �ther Paymen#s. Fa�lure of Trus�ar wi�hin the�ime required �y this Deed of Trus�to make any payment
<br /> �or�axes or insurance, or any other paymen#n�cessar��o preWent�iling o�or to e�fect discharge of any lien.
<br /> FaEse Statements. Any representa�ivn ar statemen� made ar furnished �o Lender by Trusto��r on Trustor's behalf
<br /> under�his Deed o�Trus��r the Relat�d Documents is �Fa[se ❑r misleading in an�ma�erial respect, either now ❑r af
<br /> the time made�r�urnished.
<br /> DefectiWe Cv[�ateralizatian. This Deed of Trust or any of the Rela�ed Documen�s csases to be in �ull force and
<br /> ef�ecf �inc�udin� '�ailure of any collatera[ dvcument �� create a valid and perfected securi�y interest or lien� a� any
<br /> t�me and �for any reason.
<br /> Death ar�nsol�ency. Th� dea�h of Trustar, �h� insalvency o�r Trus�or, the appointment of a recei�er for any part of
<br /> Trustor's properfiy, any assignment for th� benefit vf creditors, any type vf credi�o� warl�ou�, �r the
<br /> commencement of any proceeding under any bankruptcy or insol�ency laws �y or agains�r Trustor.
<br /> Taking of the Prvperty. Any creditor or �vWernmental agency tries �a take any of the Property or any other af
<br /> Trustvr`s property in which Lend�r has a lien. This includ�s takin� v�, garnishing o�F ar Is�ying vn Trustflr's
<br /> acc�unts vuith Lender. However, if Trust�r disputes in g��d faith ►nrhether the claim an which �he �aking �f �he
<br /> Prvperty is �ased is valid �r reasvnabE�, and if Trustor gi��s L�nder writ�en na�ice of the �laim and furnishes
<br /> Lender wifih mvn�es or a sure�ty band satis�actary fa Lender�o satisfy the claim, �hen this de�aul�pro�ision wili not
<br /> appfy.
<br /> Breach of�ther Agreement. Any breach by Trustor under the �erms of any o�her agreement be�ween Trus�or and
<br /> Lender that is na�t remedi�d within any grace perivd pro�ided therein, in�luding wi�haut limi�ation any agreemen�
<br /> concerning any ind�btedness or other o�li�ation of Trustor to Lender, whefher�xisting now vr later.
<br /> Events Af#ecting Guarantor. Any of�he prec�ding e�ents accurs with respect to any guarantor, endorser, surety,
<br /> or accommadat�an party o� any o'� the Indebtedness or any guarantar, endorser, surety, or accnmmadatian party
<br /> dies or becomes in��mpetent, or revokes or dispu�es the Walidity af, or liability under, any Guaranty of the
<br /> Indebtedness.
<br /> Insecuri�y. Lender in gaod faith be[ie�es itself insecure.
<br /> Existing Indeb�edness. The paymen� ❑f any installment af principal or any interest �n the Exis�ing Indebtedness is
<br /> not made wifhin�he time required by the promissvey note evidencing such ind�b�edness, �r a defau�t occurs under
<br /> the ins�rum�nt secur�ng such indebtedness and is n�� cured during any applicabl� grace peri�d in such Ens�rument,
<br /> �r any suit ar othe�a�tion is�ommenced�o�oreclase any existing lien�n the Prope�ty.
<br /> Righ�k to Cure. ��any�lefault, ath�r than a de�ault in payment is curable and if Trustor has not been given a na�ice
<br /> �f a breach o�the same provision of�his Deed of Trust within�he preceding tvuel�e ���f months, it may be cured if
<br /> Trus�or, aftsr L�nder sends wri�ten notic��ko Trustor d�manding cure o�such default: {'[} cures the de�ault within
<br /> ten {�0) days, or {�� if the cu�e r�quires mvre than ten ��0� days, immedia�ely ini�ia�es steps which Lender deems
<br /> En Lender's sole discretion ta be sufficient to cur��h�de�Fauit and th�reafter con�rinues and completes all reasonable
<br /> and necessary steps suffici�n�to pr�du��compliance as soon as reasonably practi�al.
<br /> RIGHTS AND REMEDIES �N DEFAULT. If an E�en�vf �e�Fau�t occurs und�r this Deed a�Trus�, a�any�ime �her�af��r,
<br /> Trustee vr Lender may exercise any one or mor�of the fo[lowing rights and remedies:
<br /> Acc�leration Upvn Default: Ad�litiona[ Remedies. If any Event af Default❑ccurs as per�he terms of the Note
<br /> secured h�reby, Lender may dec�are ali f ndeb�edn�ss secured by�his D�ed of Trust to be due and pa}�ahle and
<br /> the sam�shall ther�upon beGome due and payable withou�any presentment, demand, prv�est or n�tice ofi any
<br /> kind. Thereaft�r, Lend�r may:
<br /> �a7 Either in person or by a�ent. with or with�ut bringing any ac�ivn ❑r pr�ceeding, or by a recei�er
<br /> appointed by a court and with�ut regard to the adequacy of its security, enter upan and take possession
<br /> of�he Proper�y, �r any par�thereof, in its own name or in the name ofi Trust�e, and do any acts which it
<br /> deems necessary or desirable to preser�e the �alue, marl�etabi�ity or ren�tabiCity of the Prap�rty, ar part of
<br /> the Proper�y ar infierest in �he Property; increase the �nc�me from th� Property or pratect the security afi
<br /> �he Prop�rty; and, wi�h ar without tal�ing possession of the Property, sue for vr otherwis� collect the
<br /> rents, issues and pro�Fits vf the Property, including those past due and unpaid. and apply the same, less
<br /> costs anci�xpens�s of opera�ion and �oIlec�ion attorneys' fees,to any indebtedness secu�ed hy this Deed
<br /> af Trust, ali in su�h order as Lender may determine. The entering upon and taking possessi�n af the
<br /> Proper�y, the �o�lec�ion o�F such ren�s, issues and pra�its, and �he applicati�n thereofi sha�l not cure or
<br /> waE�e any d�fault ar notice �� default under�his Deed of Trust ar in�alidafe any act d�ne in respons�to
<br /> such defau�t or pursuant to su�h nv�ice of default; and, notwi�hsranding the cont'snuance in possession�f
<br /> th� Property or the colle��ion, receip� and applica�ion af rents, 155L1S5 or pr��its, Trustee or L�nder shal�
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