201501650 - Laserfiche WebLink

Browse

��15�1�5� �FED �F TRU�T Loan Na: '�D��g4273 �Cotltinued} Page � Paymen�De�ault: Trustor fails to make any payment when due under fihe lndebtedness. Break ��her Promises. Trus�or breaks any promise made t❑ Lender �r fails �❑ perform prompt�y at�he �ime and s�ri�t�y in fihe manner pro�ided in this Deed o�Trust or in any agreement related�v this ❑e�d o�f Trus�. � Compfian�e De�au[t. Fai�ure to camply with any ather �erm, o1�ligation, co�enant ❑r candi�ion contained in this �eed v�Trust,�he Nofie or in any❑�f the Rela�ed �o�uments. Default on ather Paymen�s. Fai�u�-e a�Trus�or wi�h�n the�ime required �y�his Deed af Trust t� make any payment for�axes ar insuran�e, ❑r any oth�r payment necessary t❑ pre�en�filing ❑�or�o efifecfi discharge v�any lien. False Sfiatemen�s. Any represen�a�ion vr statement made ar furnished�o Lender by Trustor or an Trust�r's beha�f -under this Deed at Trus�or�he Related Documents is false ❑r mis�eading in any material respec�, eifiher now or at �he fiime made or�urnished. Def�ctive Collateralization. This C�eed of Trust ❑r any a� �he Re�a'�ed Dacumen�ts ceases tv be in full force and sfFec� �including failure af any co�ia�eral document�o crea�e a �alid and perfe�ted security interest or lien} at any time and�or any reason. Dea�h vr lnsa[Wency. The death o�Trustvr,the insal�ency❑f Trus�or,�he appointment❑f a receiver�ar any par�o� ; Trus�or's prvperty, any assignment for the benefit ❑f creditors, any �ype of cred'ttar wvrkout, ❑r �he ' cvmmencemen�of any pr�ceeding under any bankrupt�y or insol��ncy laws by or against Trustor. Taking ❑f�he Property. Any creditvr or ga�ernmenta[ agency �kries tv take any vf�he Praper�y or any ❑ther of Trus�ar's property in which Lender has a �ien. This includes taking ❑f, garnishing vf or le�ying ❑n Trus�ar's accaunts wi-�h Lender. Hawever, it Trus�or dispu�es in gvod fai�h whe�her �the claim ❑n which the ta�ing o�the Prop�rty is I�ased is valid vr reasonab�e, and i�f Trus�kor gi�es Lender w�i�t�en nottce ❑f �khe claim and furnishes � Lender w�th monies or a surety band satisfact�ry t❑ Lender�o satis�y the claim, then this de�ault pravisian will not � appfy. Brea�h of�ther Agreement. Any breach by Trusfior under the terms ❑f any other agreement between T�ustor and Lend�r tha� is nat remedied wifihin any grace period proWided therein, in�luding withou� limi�at�on any agreement cancerning any indebtedness a�-��her abligatian v�Trustor tv Lender, whether exis�ing now or la��r. EWen�s Affec�ing Guarantor. Any of the preceding events ocGurs with respect t❑ any guarantor, endorser, sure�y, or acc�mmada�ian par�y ❑f any o��he lndebtedness ar any guaran�or, endorser, sure�y, ar accammodatian par�y dies ❑r becames in�ampetent, ❑r re�okes ❑r dispu�es �he �a[idity ❑f, or iiabili�ky under, any Guaran�y of �he � lndebtedness. Insecurity. Lender in gaod�a�th believes i�s�lf insecure. l Exis�ing lndeb#edness. The payment v�any ins�aflment af principal or any in�erest on the Exis�ing Indeb�edness �s � not made wi�hin the�ime required by�he promissvey n�te e�idencing such indeb�edness, ar a defaul�❑ccurs under �h� ins�rument securing such indelafiedness and is nat cured during any a�p[€cable grace period in such instrumen�, or any sui�❑r❑�kher ac�ian is comm�nced�o foreclose any existing lien❑n the Property. Right to�ure. �f any defaul�, other than a de�auft in paym�nt, is curabfe and if Trusfiar has no��een given a notice of a breach of the same provision a�this Deed ❑�Trust wi�hin fihe preceding tvuel�e �1�} months, �t may be cured i� Trustor, af�e�- Lender sends written no�iGe tv Trustor demanding cure o�such de�ault: �� cures�he de�Fau[�within ten ��❑} days; or ��} if�he �u�re requ�res more than�en 4�0} days, immediafiefy initia�kes s�eps which L�nder deems in Lender's svle d3scre�ion�o be suf�icienfi�❑�ure the de�aulfi and thereafte�-�ontinues and comple�es all reasvnable and necessary steps sufficien�to produ�e�ampliance as soon as reasanably practical. R�GHTS AN❑ RE1111ED1E5 �N DEFAULT. lf an E�ent of De�aul� accurs unde�r�his �eed ��Trusfi, at any time�hereafter, Trustee or L�nder may exercise any one ar more of�he�ollawing rights and remedies: Acce[era�ivn Upvn Defaul�;Additional Remedies. lf any E�en�❑f Defauit occurs as per�he terms o�the Note secured hereby, Lender may declare all Indeb�edness secu�-ed by this ❑�ed o�F Trust to be due and payable and �he same shal�thereupon hecome due and payabl�wi�hau�t any p�-esentment, demand, pro�est or notice of any kind. Thereafter, Lender may: �a� Either in pe�-san or by agent, wi�h or withou� bringing any ac�ion o�- proceeding, or by a recei�er appoinfied by a Gourt and wi�hout regard fio th� ad�qua�y of its security, en�er upon and take possession af the Pr�per�y, ❑r any par�therevf, in its vwn name ar-in the name o�Trustee, and do any ac�s which it deems necessary or des�rable t� preser�e the�alue, markefiabili�y ar ren�abi�i�y❑f the Propsrty, or part of the Praper�y or in�erest in the Praper�y; in�rease the incame��am the Property �r prate�t�he security of �he Prap�rty; and, with ❑r wi�hou� taking possession of the Prvperty, sue for ❑r otherwise collecfi the rents, issues and protifis af�he Property, inc�uding �hose pas�due and unpaid, and apply the same, [ess Gosts and expenses ❑�aperatian and collection a��orneys'��feesr tv any indebtedness secured by this Deed. of Trus�, all in such ❑rder as Lender may det�rmine. The entering upon and taking possessivn of the Prvperty, �he collection afi such ren�s, issues and p�o�Fi�s, and fihe application �thereof sha�l not cure �r waive any defauft❑r notice ❑fi default under�his Deed ❑�Trust or invalidate any act dane in respanse t❑ such de#aul�ar pu�-suant�a such no�ice o�de�auft; and, notwi�hstanding the c�ntinuance in possession of the Properfiy or the collection, receip� and applicativn o� ren�s, issues or profits, Trustee ar Lender shal�