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01-31-20�0 � '` DEED OF TRUST Page 4
<br /> 200 �� � 949
<br /> Loan No 1084615 (Continued)
<br />� same effect as an Event of Default(as defined below),and Lender may exercise any or all of its available remedies for an Event of Default as
<br />, provided below unless Trustor either (a)pays the tax before it becomes delinquent,or (b)contests the tax as provided 8bove In the Taxes and
<br /> Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relatinp to this Deed of Trust as a secwity apreement are a part of
<br /> this Deed of Trust
<br /> Secunty Ayreement. This instrument shall consUtute a security ayreemant to the extent any of the Property constitutes Poctures or other
<br /> personal property, and Lendar ahaU hava aU of the riphts of a secured party under the Uniform Commercial Code as amended irom time to
<br /> I Wr�e. �
<br /> i i�qtrlty Interqt. Upon rYquost by Lender,Trusfor shall execute financinq statements and take whatever other action is requested by Lender
<br /> to perNC1 and twntlnua Lsr►der's secur(ty interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real
<br /> property records,Lender may,at any time and without further authorization from Trustor,file executed counierparts,copies or reproductions of
<br /> this Deed of Trust as a flnancing stetemenf. Trustor shall reimburse Lender for all expenses incurced in pertecting or continuing this security
<br /> interest. Upon default,Trustor shall assemble the Personal Property in a manner and at a place reasonably convenient to Trustor and Lender
<br /> and make it available to Lender within three(3)days after receipt of written demand from Lender.
<br /> Addresses. The mailing addresses of Trustor (debtor) and.Lender (secured party), from which information concerning the security interest
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<br /> '�"�d by lhis Dead d Trust may be obtained(each as reqWrea by the Unif�m Com`nierdaTCoda),-ara as s�d on Ihr lMtt Pa�'oi tfMs-�d
<br />� d Tniit. ,
<br /> FlJ1iTHER A8SURANCE8; ATTORNEY-IN-FACT. The fo�owi�p prov�sions relatlnp to further assurances end attornsy�-in-fect ero a part of this
<br /> Deed of Trust.
<br /> Fu�ther Assurences. At any time,and from time to time, upon request of Lender,Trustor will make, execute and dellver, or will cause to be �
<br /> made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or
<br /> rerecorded,as the case may be,at such times and in such offices and places as Lender may deem appropriate,any and all such mortgages,
<br /> deeds of trust,security deeds,security agreements,financing statements,continuation statements,instruments of further assurance,certificates,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, pertect,continue, or
<br /> preserve (a)the obligations of Trustor under the Note,this Deed of Trust,and the Related Documents,and (b)the liens and security interests
<br /> created by this Deed of Trust as first and prior liens on the Property,whether now owned or hereafter acquired by Trustor. Unless prohibited by
<br /> Iaw or agreed to the contrary by Lender in writing,Trustor shall reimburse Lender for all costs and expenses incurred in connection with the ,
<br /> matters referred to in this paragraph. '
<br /> Attorney-in-Fact. If Trustor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby irrevocably appoints Lender as Trustor's attorney-in-fact for the purpose
<br /> of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sote opinion, to (
<br /> accomplish the matters referred to in the preceding paragraph. ;
<br /> FUl PERFORMANCE. If Trustor pays all the Indebtedness when due,and otherwise performs all the obligations imposed upon Trustor under this
<br /> Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable
<br /> statements of termination of any financing statement on file evidencing lender's security interest in the Rents and the Personal Property. Any
<br /> reconveyance fee required by law shall be paid by Trustor,if permiHed by applicable Iaw.
<br /> DEFAU.T. Each of the following,at the option of Lender,shall constitute an event of default("Event of Default")under this Deed of Trust:
<br /> De(ault on Indebtedness. Failure of Trustor to make any payment when due on the Indebtedness. `
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<br /> Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or insurance, or
<br /> any other payment necessary to prevent fAing of or to e#ect diseharge of any lien.
<br /> Defwlt In Favor of Third Parties. Should Borrower or any Trustor default under any loan,extension of credit,security agreement,purchase or
<br /> sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Bonower's property or
<br /> Borrower's or any Trustor's abilily to repay the Loans or perform their respecHve obligations under this Deed of Trust or any of the Related
<br /> Documents.
<br /> Compliance Default. Failure of Trustor to comply with any other term, obligation, covenant or condition contained in this Deed of Trust,the
<br /> Note or in any of the Related Documents.
<br /> False Statements. Any warranty,representation or statement made or furnished to Lender by or on behalf of Trustor under this Deed of Trust,
<br /> the Note or the Related Documents is false or misleading in any material respect,either now or at the time made or furnished.
<br /> Defective Collaterallzation. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any
<br /> collateral documents to create a valid and perfected security interest or lien)at any time and for any reason.
<br /> Death or Insolvency. The death of Trustor or the dissolution or termination of Trustor's existence as a going business, the insolvency of
<br /> Trustor,the appointment of a receiver for any part of Trustor's property,any assignment for the benefit of creditors,any type of creditor workout,
<br /> or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor.
<br /> Foreclosure,Forteiture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,self-help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmental agency against any of the Property. However,this subsection shall not
<br /> apply in the event of a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the basis of the foreclosure or
<br /> forefeiture proceeding, provided that Trustor gives Lender written notice of such claim and furnishes reserves or a surety bond for the claim
<br /> satisfactory to Lender.
<br /> Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that is not remedied
<br /> within any grace period provided therein,including without limitation any agreement concerning any indebtedness or other obligation of Trustor
<br /> to Lender,whether existing now or later.
<br /> Events AHecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor ;i
<br /> dies or becomes incompetent, or revokes or disputes the validity of,or liability under,any Guaranty of the Indebtedness. Lender,at its option,
<br /> may, but shall not be required to, permit the Guarantor's esfate to assume unconditionally the obligations arising under the guaranty in a
<br /> manner satisfactory to Lender,and,in doing so,cure the Event of Default.
<br /> Adverse Chenye. A material adverse change occurs ir�Trustor's financial condition, or Lender balieves iha-prospeCt oi payment w
<br /> performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith deems itself insecure.
<br /> Right to Cure. If such a failure is curable and if Trustor has not been given a notice of a breach of the same provision of this Deed of Trust
<br /> within the preceding twelve (12) months, it may be cured (and no Event of Default will have occurred) if Trustor, after Lender sends written � ,
<br /> notice demanding cure of such failure: (a) cures the failure within fiffeen (15) days; or (b) if the cure requires more than fifteen (15) days, ; �
<br /> immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient to
<br /> produce compliance as soon as reasonably practical. ;
<br /> RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter,Trustee or Lender,at its option, �
<br /> may exercise any one or more of the following rights and remedies,in addition to any other rights or remedies provided by law: ;
<br /> h
<br /> Acceleration upon Default; Additional Remedies. If any event of default occurs as per the terms of the Note secured hereby,Lender may �
<br /> deciare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and payable without �
<br /> any presentment,demand or protest of any kind. Thereafter,Lender may:
<br /> (a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without
<br /> regard to the adequacy of its security,enter upon and take possession of the Property,or any part thereof,in its own name or in the name
<br /> of Trustee,and do any acts which it deems necessary or desirable to preserve the value,marketability or rentabllity of the Property,or part
<br /> of the Property or interest in the Property;increase the i�come from the Prope�ty or protect the security of the Property;and,with or wfthout '
<br /> taking possession of the Property,sue for or otherwise collect the rents,issues and profits of the Property, including those past due and 4
<br /> unpaid,and apply the same,less costs and expenses of operation and collection,including attorneys'fees,to any indebtedness secured �
<br /> by this Deed of Trust,all in such order as Lender may determine. The entering upon and taking possession of the Property,the collection �
<br /> of such rents,issues and pro8ts,and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust
<br /> or invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding the continuance in
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