|
200001183
<br /> • 20. SECURM INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered and be effective as a financing
<br /> atatert�rt and a fixture flting pursuarn to the provisions of the Uniform Cormieraal Code (as adopted in the state where the real property is locate�
<br /> cover�g flxtures,ehattela,and artides of personal property now owned or hereafter attached to or to be used in connection with the PropeAy together with
<br /> any andall replacert�ents thereof and addfUons thereto(the"Chattels"),and Grantor hereby grants Lender a security imerest in such Chattels. The debtor is
<br /> the Gramor deacxibed above. This Deed of Trust will be effective as a finanang statemerrt filed as a fixture filing with respect to all fixturea induded within
<br /> said preMses and 1s to be flled for recad in the real estate records of each county where any part of said premises(induding aaid flxwres)fa aftuated. Thia
<br /> Deed of Tn�st shaU also be effective as a flnandng statemerrt covering any other premises and may be filed in any otherappropnate filing or recording
<br /> offios. A cerbo�,photopraphic or other reproduction of this Deed of Trust or of any finandng statemerrt relating to this Deed of Trust shall bs sufflciern as a
<br /> flnandnp atatemerrt for any of the purpcses referred to in this Paragraph. The secured party is the Lender descrlbed above. Upon demand,Grantor shall
<br /> melae, axaxrte and delivar such security agreemerns (as such term is defined in said Uniform Commercial Code) as Lender at any time may deem
<br /> neoessary or proper or required to grarrt to Lender a perfected securiry irrterest in the Chattels,and upon Grarrtors failure to do so,Lender is authorized to
<br /> sipn arry such�eart�M as the�ent of Grantor. Grantor hereby autiwrizes lender to file finandng statements(as auch tertt�is defined in said Uniform
<br /> Corm�►dal Co ed )with respect to the Chattels,at any time,without the signature of Grarrtor. Grarrtor will,however,at any time upon requesl of Lender,
<br /> sign such t�ng atatemants. Grarnor wW pay all filing fees for the fiUng of such finandng statements and for the refiling thereof at the Umes required,in
<br /> the op�don of Lender,by said Uniform Comnerdel Code. If the Ifen of this Deed of Trust be wbject to any security agreement oove�ing ihe Chattets,then
<br /> �ths event of arry default under this Deed of Trust,all the right,title and irnerest of Grantor in and to any end all of the Chatteis is hereby assigned to
<br /> Lender,together with the benefit of any deposits or paymeMs now or hereafter made thereof by Grantor or the predeoessors or suxessora in tiUe of
<br /> Grantor in the Property.
<br /> 21. REIAABURSEIIAAENT OF AIAOUNTS EXPENDED BY LENDER. Lender,at Lender's opdon,may expend funds(induding�ttomeys'fees and legal
<br /> expenses)to pertortn any ad required to be taken by Grantor or to exercise any rigM or rert�edy of Lsnder under this Deed of Trust. Upon demand,Grantor
<br /> shall frtrnediately reimburse Lender fw all such amounts expended by Lender together with interest thereon at the lower of 1he higheat rate desaibed in any
<br /> Obligatbn or the highest rate aibwed by Iaw from the date of paymern until the date of reimbursement. These sums shall be induded in the dsftnition of
<br /> ObAgeAfons herek�and shall be secured by the beneftaal interest granted herein. If the Obligations are paid after the beginning of publicatbn of mUcs of
<br /> sele,as herein provtded,or in the eve�t Lsnder shall,at its sole option,pemrt Gramor to pay any part of the Obligations after the beginning of put�kation of
<br /> notke of sale,as herein provided,then,Grarrtor shall pay on demand all expenses incurred by the Trustee and Lander in oonnection wfth said puWication,
<br /> induding reaaoneble attomeys'fees to the attomeys for the Tn�stee and for the Lender,and a reasonable fee to the Tn�stee,and this Deed of Truat shali be
<br /> security for all such expenses and fees.
<br /> 22. APPLICA'f10N OF PAYMENTS. The Trustee shall apdy the proceeds of the trustee's sale,first,to the costs and expenses of exerdsin�the power of
<br /> sale and of ths sale.lnduding the paymern of the Trustee's fees actually incurced not to exceed the amount which may be provided for in the Deed of Tn�at,
<br /> second,to paymem of the obligat�on secured by the Deed of Trust,third,to the payment of junior deeds of trust,mortgaAes w other lienhoiders,and the
<br /> 6alance,if arry,to the person or persons legally errtitled thereto.
<br /> 29. PO'WER OF ATTORNEY. GraMor herebyappoiMs Lender as its attomey-in-fact to endorse Grantor's name on all inatrume�ts and other documents
<br /> pehaining to the ObUgations or Deed of Tn�st. In addition, Lender shall be errtitled, but not required,to perform any adion or execute any documeM
<br /> required to be teken or exeaited by Grarnor under this Deed of Trust. Lender'spe rfomiance of such actwn or execution of such documems shall not
<br /> relieve Grantor trom arry ObUgation or cure any default under this Deed of Trusi. Alf pwers of attomey described in this Deed of Trust are coupled wlth an
<br /> iMerest and are irrevocable.
<br /> 24. 8UBROGATION OF LENDER. Lender shall be subrogated to the rigMs of the holder of any previous lien, secu�ity irrterest or encumbrance
<br /> dlacherged wilh fund�advanoed by Lender regerdless of whether these liens,security irtterests or other encumbranoea have been released of record.
<br /> 26. COLLECTION C08T8. To the e�ern pemfiried�y Iaw.Grantor�rees to pay Lender's reasonabte fees end oosts,Induc6ng,but not limited to,faes
<br /> and oosta of attomeys and otF�apeMs (induding without limitation paralegals, derks and consultants), whether or not such attomey oragent ia an
<br /> empioyee of Lender,which are incurred by Lender in collecti�g any amoum due or enforoing any rigM or rert�edy under thls Deed of Truat,whether or not
<br /> suit ls brought,induding,but nW tlmited to,all fees and costs incurred on appeal,in bankruptcy,and for post-judgrr�eM collection adions.
<br /> 26. PARTIAL RELEASE. Lender may release fts iMerest in apo rtion of the Properry by executing and reoording one or rt�cre Partial Deeds of
<br /> Recorneyence without affecting its interest in the remeining portion of the Property. Nothing herein shall be deemed to obligate Lender to release arry of its
<br /> interest in the Property(except as required under Para�raph 38 or as may be otherwise required by law),nor shall Lender be obllgated to release any part
<br /> of the Property ff Grantor is in default under this Deed of 7rust. The lien and security interest created by the Deed of Trust remein in effect with respect to
<br /> that portlon of the property,as defined in the Deed of Trust,that is not the subject of this or any Partial Deed of Reoonveyance
<br /> 27. YODIFICATION ANO WAIVER. The modiflcation or waiver of any of Grarnor's Obligatlons or l.ender's riahts under this Deed of Trust must ba
<br /> oadained in a writing aigned by Lender. Lender may perform any of Borrower's or Grantor's Obligations,delay or fail to exerdae any of its rigMs or axept
<br /> payrt�ents from Grantor or anyone other than Grantor wfthout causing a waiver of those Obligations or rights. A waiver on one occasion shall not constitute
<br /> a wahror�any other oaasion. Grarrtor's Oblipations under this Deed of Trust shall not be affected if Lender amends,compromisea,exchanges,fails to
<br /> exerdse,impeirs or releases any of the Obiigations belonging to any Grantor,Borrower or thirdparty or any of its ri s agalnst any GraMor,Borrower or
<br /> third perty or arry of the Property. Lendec's failure to insist upon strict perfomiance of any of the Obli-gations shall not�deemed a waiver and Lender ahall
<br /> have the rigM at any time thereafter to insist upon stricl performance.
<br /> 28. SUB8TITUTE TRUSTEE;TRUSTEE UABILITY;COMPENSATION. In case of the death,inability,retusal to act or absence of the Trustee from the
<br /> state where the real property is located or in case the holder of the Obligations shall desire for any reason to remove the Trustee or any substitute trustee as
<br /> trustee hereunder and to appoirrt a new trustee in his plaoe and stead,the holder of the Obligations is hereby granted full power to appoirrt in writing a
<br /> substilute trustee for sa(d Trustee,and the substitute trustee shall,when appoirrted,become suxessor to all rigMs of Trustee hereunder and the same ahall
<br /> beoome vested in him for the puposes and objects of this Deed of Trust with ail the power,duties and obligat(ons herein conferred on the Tn�stee. Trustee
<br /> shall not be liable for any error of inent or act done by Trustee, or be otherwise responsible or axouritable under any arcumstances whatsoever.
<br /> tab
<br /> Trustee ahail not be personally li in c�se of eMry by it or anyone acting by virtue of the powers hereingranted it upon the Deed of Trust for debts
<br /> contracted or IiabilRy or s incurred in U�emanage merrt or operation of said premises. Trustee shall have the ri�ht to rel on any instrumerrt,
<br /> documeM or signature audllho ng or supporting any action taken or proposed to be taken by it hereunder or believed by tt in faith to be genuine.
<br /> Trustee ahall be entitled to reimbursemerrt for expenses incurred by it in the performance of fts dutfes hereunder and to re compensation for such
<br /> of its seMces hereunder as shall be rendered. Grantor will,from time to time,pay compensation due Trustee hereunder and reimbu�e Trustee for and
<br /> save and hold R hartMess from and against any and all loss,cost,liability,damage and e�cpense whatsoever incurred by it in the perfom�ence of its duties.
<br /> IW moneys received by Trustee shall,until used or applied as herein provided,be held in trust for thepurposes for which they were reoeived,but need not
<br /> be segregated in any menner from any other moneys (except to the extent required by law)and Trustee shall be under no liabiliry for interest on any
<br /> rr�oney=►ecelved by ft hereunder.
<br /> ;
<br /> ,
<br /> 29. SUCCE880R8 AND A831GN3. This Deed of Trust shall be bindin� upon and inure to the beneftt of Gramor and Lender and their respective �
<br /> suooeasors,assigna,trustees,receivers,adminlstrators,personal represeMatroes,legatees and devisees. �
<br /> 30. NOTICE8. Excepi as otherwise required by law,any notice or other corrm�nication to be provided under this Deed of Trust shall be in writing and sem
<br /> to the peAies at ths addreaaes described in this Deed of Trust or such other address as the parties ma designate in writing from timme to Wne. My sueh
<br /> e
<br /> notioe ao given and seni flrst dass mail,postage prepaid,shall be deemed given the earlier of three 3)days after such notice is sern or when received
<br /> by the person to whom su notice is being given.
<br /> 31. 8EVERABILITY. VVhenever possible,each provision of this Deed of Trust shall be iMerpreted ao as to be effective and valid under applk�ble atate
<br /> law. If any provision of this Deed of Trust violates the law or is unenforceable,the rest of the Deed of Trust shall continue to be valid and enioroeable.
<br /> 32 APPLJCABLE LAW. This Deed of Trust shall be govemed by the laws of the state where the real property is located. Unless applicable law provides
<br /> otherNriae,GraMor conaents to the jurisdiction and venue of any court selecled by l.ender,in its sole discxetion,located in that state.
<br /> SS. WBCELLANEOUS. GraMor and Lender agree that time is of the essence. Gramor waives preserrtment,demand for paymeM,notice of dishonor and
<br /> protest exceprt asrequired by law. All references to Grantw in this Deed of Trust shall include allpersons signing below. If there is more than one Grantor,
<br /> their ObligatfOns shall be p' �rrt and several. This Deed of Trust represerrts the wmplete irrtegrated understanding between Grantor and Lender pertaining to
<br /> the terrrx and oor�ditions F�ereOf.
<br /> S0. NO THIRD PARTY RIGHTS. No person is or shall be a third party beneficiary of anyprovision of this Deed of Trust. All provisions of thls Daed of
<br /> Trust in favor of Lender are irrtended solely for the benefrt of Lender,and no third pany shall re entitled to assume or expect that Lender will nol waive or
<br /> consent to the mo�flcation of arry provision of this Deed of Trust,in Lender's sole discretlon.
<br /> 35. PRESERVATION OF UABILITY AND PRIORITY. Wrthout affecting the liabiliry of Borrower,Grarrtor,or any guarantor of the ObUgations,or any other
<br /> person(except a person expressly released in writing)for the payment and performance of the Obligations,and wtthout affecting the rlshts of Lender with
<br /> respect io arry Property not expressly released in writing,and without impainng in any way the priority of this Deed of Trust over the irrterest of an person
<br /> �rod or flrst ev1 -inoed by recording subsequeM to the recording of this Deed of Trust,Lender may,either before or after the maturity of the Ob�ions,
<br /> witFwut notice or conser�t:release any person liable forpaymerrt or perfomrance of all or any part of the Obligations;make anyagreemarn altering tha
<br /> tem�of pa M or perfortnence of ail or any part of the Obligations;exerdse or refrain from exerasing or waive any right or remedy tha!Lender may have
<br /> usecuring the Obl�igatio s.My personi acquiring o�recordin gnevidenoe of tany��st of�any�nateuu e ln the ProiPertY shall be deemed, �n in'��wcF�
<br /> irne►est a recording any evidence thereof,to have conserrted to all or any such actions by Lender.
<br />; �
<br />
|