|
� 201504078
<br /> DEED OiF TRUST
<br /> Loan No: 101286178 (Continued) Page 6
<br /> reimburse Lender for all ex enses incurred in erfecti In or continuin this securit interest. U on default Trus or
<br /> p p �9 9 Y P , t
<br /> shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assembie
<br /> any Personal Property not affixed to the Property in almanner and at a place reasonably convenient to Trustor and
<br /> Lender and make it available to Lender within three (3) days after receipt of written demand from Lender to the
<br /> extent permitted by applicable law. I
<br /> I
<br /> Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information
<br /> concerning the security interest granted by this Deedl of Trust may be obtained (each as required by the Uniform
<br /> Commercial Code) are as stated on the first page of th'is Deed of Trust.
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and
<br /> attorney-in-fact are a part of this Deed of Trust:
<br /> Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, execute and
<br /> deliver, or will cause to be made, executed or delivere�d, to Lender or to Lender's designee, and when requested by
<br /> Lender, cause to be filed, recorded, refiled, or rereco�ded, as the case may be, at such times and in such offices
<br /> and places as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security
<br /> agreements, financing statements, continuation statements, instruments of further assurance, certificates, and
<br /> other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete,
<br /> perfect, continue, or preserve (1) Borrower's and Trustor's obligations under the Note, this Deed of Trust, and
<br /> the Related Documents, and (2) the liens and secu�rity interests created by this Deed of Trust as first and prior
<br /> liens on the Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender
<br /> agrees to the contrary in writing, Trustor shall reimburse Lender for all costs and expenses incurred in connection
<br /> with the matters referred to in this paragraph. �
<br /> Attorney-in-Fact. If Trustor fails to do any of the thinlgs referred to in the preceding paragraph, Lender may do so
<br /> for and in the name of Trustor and at Trustor's expe�se. For such purposes, Trustor hereby irrevocably appoints
<br /> Lender as Trustot's attorney-in-fact for the purpose of making, executing, delivering, filing, recording, and doing all
<br /> other things as may be necessary or desirable, in Le�nder's sole opinion, to accomplish the matters referred to in
<br /> the preceding paragraph. I
<br /> FULL PERFORMANCE. If Borrower and Trustor pay all the Indebtedness, including without limitation all future
<br /> advances, when due, and Trustor otherwise performs all tlie obligations imposed upon Trustor under this Deed of Trust,
<br /> Lender shall execute and deliver to Trustee a request fo� full reconveyance and shall execute and deliver to Trustor
<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 require�d 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 make 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 otlier 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 make 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 Deedl 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 an�y of the Related Documents ceases to be in full force and
<br /> effect (including failure of any collateral document tol create a valid and perfected security interest or lien) at any
<br /> time and for any reason.
<br /> Insolvency. The dissolution or termination of Borrower's or Trustor's existence as a going business,the insolvency
<br /> . of Borrower or Trustor, the appointment of a receiver for any part of Borrower's or Trustor's property, any
<br /> assignment for the benefit of creditors, any type of Icreditor workout, or the commencement of any proceeding
<br /> under any bankruptcy or insolvency laws by or against 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 I 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 withi Lender monies or a surety bond for the creditor or forfeiture
<br /> �—
<br />
|