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201502393
<br /> DEED OF TRUST
<br /> Loan No: 101285062 (Confilnued) Page 6
<br /> suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents
<br /> and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted by applicable
<br /> law.
<br /> EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed
<br /> of Trust:
<br /> Payment Default. Borrower fails to malce any payment when due under the Indebtedness.
<br /> Other Defaults. Borrower or Trustor fails to comply with or to perform any other term, obligation, covenant or
<br /> condition contained in this Deed of Trust or in any of the Related Documents or to comply with or to perform any
<br /> term, obligation, covenant or condition contained in any other agreement between Lender and Borrower or Trustor.
<br /> Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this
<br /> Deed of Trust, the Note or in any of the Related Documents.
<br /> Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to mal<e any payment
<br /> for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Trustor
<br /> or on Borrower's or Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in
<br /> any material respect, either now or at the time made or furnished or becomes false or misleading at any time
<br /> thereafter.
<br /> Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and
<br /> effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any
<br /> time and for any reason.
<br /> Death or Insolvency. The dissolution of Trustor's (regardless of whether election to continue is made►, any
<br /> member withdraws from the limited liability company, or any other termination of Borrower's or Trustor's existence
<br /> as a going business or the death of any member, the insolvency of Borrower or Trustor, the appointment of a
<br /> receiver for any part of Borrower's or Trustor's property, any assignment for the benefit of creditors, any type of
<br /> creditor workout, or the commencement of any proceeding under any banlcruptcy or insolvency laws by or against
<br /> Borrower or Trustor.
<br /> Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br /> proceeding, self-help, repossession or any other method, by any creditor of Borrower or Trustor or by any
<br /> governmental agency against any property securing the Indebtedness. This includes a garnishment of any of
<br /> Borrower's or Trustor's accounts, including deposit accounts, with Lender. However, this Event of Default shall
<br /> not apply if there is a good faith dispute by Borrower or Trustor as to the validity or reasonableness of the claim
<br /> which is the basis of the creditor or forfeiture proceeding and if Borrower or Trustor gives Lender written notice of
<br /> the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture
<br /> proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the
<br /> dispute.
<br /> Breach of Other Agreement. Any breach by Borrower or Trustor under the terms of any other agreement between
<br /> Borrower or Trustor and Lender that is not remedied within any grace period provided therein, including without
<br /> limitation any agreement concerning any indebtedness or other obligation of Borrower or Trustor to Lender,
<br /> whether existing now or later.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br /> or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party
<br /> dies or becomes incompetent, or revolces or disputes the validity of, or liability under, any Guaranty of the
<br /> Indebtedness.
<br /> Adverse Change. A material adverse change occurs in Borrower's or Trustor's financial condition, or Lender
<br /> believes the prospect of payment or performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> Right to Cure. If any default, other than a default in payment, is curable and if Trustor has not been given a notice
<br /> of a breach of the same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if
<br /> Trustor, after Lender sends written notice to Borrower demanding cure of such default: (1) cures the default
<br /> within fifteen (15) days; or (2) if the cure requires more than fifteen (15) days, immediately initiates steps which
<br /> Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and
<br /> completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter,
<br /> Trustee or Lender may exercise any one or more of the following rights and remedies:
<br /> Acceleration Upon Default; Additionai Remedies. If any Event of Default occurs as per the terms of the Note
<br /> secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and
<br /> the same shall thereupon become due and payable without any presentment, demand, protest or notice of any
<br /> I<ind. Thereafter, Lender may:
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