|
��15���31
<br /> � DEED �F TRUST
<br /> Laan lllv; 7�'1�54�99 �G�ntjnued} Page 6
<br /> L�nder as Trustor'.s attorney--in--fac�far the purpose of making, executing, deli�ering, �il�ng, recording,;and d�ing aff
<br /> . �ther �hings as_may be ne�essary ar desirable, .in Lender'.s svle opinion;, fio accomplish fihe,mafi�ers referred to in
<br /> the pre�eding;paragraph.. ,- ... _ . � . . . . - . - _ . . . .. , _
<br /> . _ .!... _ . . _ . . . - '� • - .. .. _ i�... �_ , . :;.
<br /> FULL- PERF4RM►4NCE:•� If=Trustor�pays a��;�he�'Indebtedriess ii+ihen��ue,��and��vtherviiis�e�°performs�all�-the vbliga�ivns
<br /> imp�sed=�upon�-T�-ustar unde�- ��his I]ee�d�-a�F Trust; Lerider=sha�l���execute- and'deli�e�r �o���Trustee a request �For full
<br /> recon�eyanceyand sh�a�� execu�e�and�deii�er�o Trus�or sui�a�le=s�atemen�s�of�termiriativri of any financing�statemen�on
<br /> �ifeTe�iden�ing Lender's�securi�y�iri�eres�iri-fihe Rents and the�Personal Praperty. -Any-recon�eyance fee�required �y�aw
<br /> shal� he pa�d �y Trustor,�if�permitt�d-by a�pplicahle�lavv. T"- � �� • � � - � � �-- �
<br /> EVENTS DF,DEFAULT. Ea�h o�fihe �o��owing, at Lender's option, shall cans�itute an Even��❑f Defaul��under�his ❑eed
<br /> of Trus�: �
<br /> � Payment Defau[t. Trus�or�aiIs to ma�e any paymen�when due under�he Indebtedness.
<br /> �fiher Defaui�s. Trus�or fails �o cvmply w.ith ar to per�orm any o�her �erm, oblFga�ion, coWenant ❑r candi�ivn
<br /> can�tained in �his �eed af Trus� vr in any of the ftelafied Do�uments or t❑ cvmply with vr to perform any �erm,
<br /> obtigation, cvWenant o�candi�ion con�asned in any other agreement be�ween Lender and Trus�vr.
<br /> Cvmplian�e Default. Failure to comp�y w�th any othe� �erm, obliga�ion, co�enant or �andition cantained in this
<br /> Deed a-�Trus�,�he Nate❑r in any of the Re�ated Dacuments.
<br /> . -+ r : r• � . . _ -� -
<br /> Defaulfi o���ther r ayments: Failu{�e�vf Trusfior within thz=iime requi�ed�b�this Deed•o�f Trust�o mak� any paymer�t
<br /> �or taxes ar insurance, a�-�any ather paymen�necessary�❑ �r��en�filing af vr-�❑ ef�ect dis�harge o�any lien.
<br /> False 5�atemen#s. Any v+rarranty, repres�n�a�ion a� s�ta�ement made ar furnished �a Lender by Trustvr or an
<br /> Trus�or's behal�f under�his ❑eed af Trus�or fihe Rela�ed Dacumen�s is false ❑r misleading in any material respec�,
<br /> either nvw or at�he time made or furnished ❑r becomes false�r misleading at any�ime fihereafter.
<br /> Defe�ti�e Col�ateraliza�ivn. This Deed ❑� Trust or any of the Rela�ed I�a�uments ceases t❑ be in fiull force and
<br /> ef���t �in�luding failure vf any collateral docum�n��o crea�e a vafid and per�ected secur�ty in�eres� ❑r lien} a�k any
<br /> time and far any reason.
<br /> Dea�h vr lnso[Wen�y. The death vfi Trusfivr,.the insal�ency af Trus�or,�he.a�poin�men�_of a recei�er for any par�❑f
<br /> - .Trustor's. property_, :any.assignmen� for the benefi� ❑f. Greditors, any, �type of creditor _worl�flut, or fihe
<br /> �- commencemen��f any pr�ceedir�g under any..bankruptcy or.inso��ency laws_h..y❑r against Trustor. . ..�
<br /> ��Creditor�or Fnrfei�ure Prviceed�ngs.-_. Comr-nencement o� foreclosure:�o��forfe�ture proGeedings;-whe�her by �udicial
<br /> �� proceeding, selt--help;�repossession or any�o�her method;�by any creditor of�Trus�or�or�by�any goiiernmental agency
<br /> '��'�against==any�property 4��securing-��he� Indebtedness. �This�-includ�s-a garnishmen�-'�of��any �af Trus�ar's accounfs,
<br /> -��� including�depasit��accounts; vvi�h�'Lender:�� Howe�er;`��his�Ei�ent-of De�ault�shalf� not apply ifi fihere'�is��a gvod faifih
<br /> ��� dis�u�e��b`�`Trustor�as fiv"�he'iialidi�� or�reasanab�eness�of the clair-n�viihich��is��he basis of�the�credi�or or forfeiture
<br /> p Y Y _. . .
<br /> proceeding-and if-Trustor gi�es"�Lender vtirrit�en notzce� ofi fihe creditor vr �orfeiture proceeding and�'deposi�s with
<br /> . . -Lsnder monies or a sure�y bond far�he_creditv.r or�ar�eiture prv�eeding, in an amount determined by Lender, in its
<br /> sale dis�re�ion, as being an adequa�e reserWe ar band-�o��he dispute. .
<br /> Brea�h of�ther Agreemen�. Any b�-each by Trus�or under�khe terms of any ❑ther agreem�nt between Trustar and
<br /> Lender �hafi is not remedied wi�hin any grace perivd pro�ided �herein, inciuding withvu� limitatian any agreement
<br /> conc�rning any indeb�edness�r o�her obligation v�Trusfiar tv Lender, whefiher existing nvw or[ater.
<br /> Erren�s A�ffecting Guarantor. Any o�the preceding events occurs with respect�❑ any guaran�ar, endvrser, sure�y,
<br /> ��- a�commadation parfiy ❑� any af the �ndeb�edness or any guaran�ar, endorse�-, sure�y, �r a�cammoda�ion par�y
<br /> dies �r b��omes incompeten�, or re�okes ar disputes the �alidi�y vf, ❑r �iabili�y unde�-, any Guaran�y v� the
<br /> Indebtedness,
<br /> Ad►�erse Change. A material ad�erse change occurs in Trustvr's �inancial candition, or Lender belie�es the
<br /> prospecfi vf paymen�❑r per�ormance of the Indeh�edness is impaired.
<br /> -._. - _ - � � . - �--- - . . . _ _. .� . = - .- _- .. �_ : - - ...: . . -�- __
<br /> �� lnse�uxi#y. Lender in good'�aith belie�es itself insecur�. � � .
<br /> Right to Cure. I�any defau�t, ❑�her than a defaul�in payment, is �urab�e and i�Trustor has nofi been�i�en a nofiice
<br /> ❑f a breach af�he same pra�ision of thFs I��ed of T�-ust within the preceding�we��e ���} mvn�hs, �t may be cured i�
<br /> Trustor, after Lender sends wri�ten no�ice tv Trus�or demandin� cure �fi such de�au�t: {�� cures the de�ault within
<br /> �ifteen {�5� days; ❑r {2� if�he cure �equires more than fifteen �15} days, immediafiefy initia�es steps whFch Lender
<br /> deems in Lender's sole dis�re�ion �o be su-F-Ficien� to cure the de�Faul� and fihereafter cantinues and cvmpie�tes all
<br /> reasonable and necessary steps suf�icient to produce compliance as soon as reasonab�y pra��ical.
<br /> F�IGHTS AND REMEDIES DN DEFAULT. �f an EWen�af Default❑ccurs under this Deed ❑f Trus�, a�any time�hereaf�erf
<br /> Trus�ee❑r Lender may exer�ise any ane or mor�o�th��vllvwing rights and remedies: �
<br /> . Acceleration Upvn De�Fau[t;Additional Remedies. 1# any EWent❑f Defau�t occurs as per_the terms of�he No�e
<br /> , secured herehy,�:Lender i-nay d�clare afl Indebtedness secured hy�his ❑eed ❑f Trust�v be due�:and_payable and
<br /> , .�he same�shall��hereupon become_due and,payab�e withau� any presentment;�demand or:prv��st.o� any kind.
<br /> Thereaf�er,t.L.ender�may: ,� . � � . .. : , . . � -. : _ -: . � . . :
<br /> - . `.4. ... .. .ti . • . . .� . , � � . . f �, � . .. -r
<br /> .-... . . * `* +... . � . .. . ' � � . . _ . - ... . • • . . h•.. �
<br /> �a} Ei�her in person ❑r by agent, wi�h or wi�hvut �ringin� any ac�ion or praceeding, ❑r by a recei�er
<br />
|