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��15�5885
<br /> DEED []F Tl�L���
<br /> Loan No: 1 C]1���'I�� {Continued� Page �
<br /> and atherwise p�rfarms all the obligations impased upon Trustar under this D�ed of Trust, Lenr�er shall execute and
<br /> deli��r to Trustee a reques� for �u[I recon�eyan�e and shall execute and deliver �o Trustar suitable staternenfs af
<br /> �ermination of any financing statement an file evidencing Lender's s�curity interest in the Fients and the Persanal
<br /> Proper�y. �4ny reconWeyance fee required by law shall b�pa�d by Trustor, if permitted i�y applicable faw,
<br /> EVENTS �F ❑EFAULT. Ea�h of the fol�owin�, at Lender's option, shall constitute an E�en�o� Defauf� under this ❑eed
<br /> vf Trust:
<br /> Payment Default. Trustar fail�fa make any payment wh�n due under the Indebtedness.
<br /> �ther D��aults. Trustor fails to camp[y with or tQ perform any other terrn� obligation� ca�enant ar condition
<br /> �antain�d in this Deed �� Trust or in any of fihe Related Da�uments or tv comp�y with ar to perform any term,
<br /> obligati�n,c��enant❑r conditian contained in any other agreement between Lender and Trustar.
<br /> Compliance D�faul�tb Fai�ure t� comp�y with any other t�rm, obliga�ion, �ovenant or ��ndition contained in this
<br /> ❑eed vf Trust.the Note or in any of�the R�lated Do�uments.
<br /> C�efaulfi on Other Payments. Failure o�Trustor wi�hin the time required by this Deed of Trust to make any payment
<br /> fvr taxes or insuran�e, ar any ather payment necessary tv pre�ent fiiing of or to ef�ect dischar�e af any lien.
<br /> False Staternents. Any warranty, representation vr stat�ment mad� or furnished �o Lender by Trustor ar an
<br /> Trustar's behalfi under�his �eed of Trust ar the Related Documents is �alse or mislsading in �ny mater�al respect,
<br /> ei�her naw or at the time made or furnished ar becarnes�a�se or misl�ading at any time thereafter.
<br /> ❑efect��e Collateral��atian. This D�ed a� Trust vr any af the Related D�cumen�s ceases tQ be in full force and
<br /> e�fect {including failur� o� any callateral document �a create a Wafid and perfected security interest❑r lien} at any
<br /> time and f�r any reason.
<br /> ❑eath or Insolvencyo The death of Trustor,th�insol�ency of Trustor, the appointmen�of a recei�er for any part of
<br /> Trus�or`s praperty, any assignment far the benefit of �reditars, any type ❑f creditor workout, �r �he
<br /> commencem�nt o�any pr�c�eding under any bankruptcy vr insal�ency laws�ay or against Trustar.
<br /> Creditar vr Forfeiture Proceedings. Cvmmencement of foreclasure or for�eiture proceedings, whe�ther by judi�ial
<br /> praceeding, se{f-help, rep�ssessian or any ath�r me�hod, by any creditor af Trus��r vr by any go�ernrnenta[ agen�y
<br /> against any proper�y securing the Inde��edness. This includes a garnishment af any af Trustor's a�coun�s,
<br /> in�luding d�posit accaunts, with Lender. HoweWer, this E�ent of Default shall nat apply if there is a g�ad faith
<br /> dispute by Trustor as to �h� �alidity or reasana�leness of the claim which is the basis af the creditor�r f�rfeiture
<br /> proceeding an� if Trustor gives Lender writt�n notice o� the creditor �r fflrfeifiure proceeding and deposits w�th
<br /> Lender moni�s vr a sure�y band far th�creditor ar farfeiture proceeding, in an amount det�rmEned by Lender. in its
<br /> svle disGretian, as being an adequate r�serve ar bond far the d'+spute.
<br /> Brea�h of�Yher Agreement. Any loreach by Trust�r under�he terms of any vther agreement between Trustor and
<br /> Lender that is nat remedied within any grace period pravided therein, including with�ut limitatian any agreement
<br /> , con�erning any indebtedness or other vbligatian��f T�ustar tv Lender,wh�th�r existing n�w or later.
<br /> E�ents A�ffecfiing Guaran��r. Any �f the preceding e�ents oc�urs tirvith respect fio any guarant�r, endorser, surety,
<br /> or accomm�dation party of any o�F the Indebtedness �r any guarantar, �ndorser� surety, or accornmodativn party
<br /> dies or becom�s incompefient, �r revakes or disputes the �a[idi�y of, ar liability under, any Guaranty of the
<br /> Indebtedness.
<br /> AdWerse �hange. A material ad�ers� �hange occurs in Trus#or's �inan�ial canditian, or Lend�r belieWes the
<br /> prospect of paymen�or per�ormance of the Indebtedness is impaired.
<br /> lnsecurity. Lender in good fai�h believes itself insecure.
<br /> Existing Indeht�dness. The payment of any installment o�prin�ipal ar any interest�n the Existing Indebtedness is
<br /> n��rn�de within�he time required by th� promissory note evidencing such indebt�dness, or a defauft vccurs under
<br /> the instrume�t securing suGh indebtedness and is not cured during any applicable grace periad in su�h instrum�n��
<br /> or any suit�r other actian is commenced to�areclose any existing lien fln�he Pr�perty.
<br /> Righ#to�ure. lf any default, �th�r than a default in payrnent, is �urable and if Trustvr has not been gi�en a notice
<br /> of a breach a�the same pro�ision af this Deed of Trust within the preceding twelve �12y rnonths, it may be cured if
<br /> Trustor, after Lender sends wri��en nvti�e to Trustar demanding cure❑f such default: {1� cures the d��ault within
<br /> �ifteen {15} days,or {2} if fihe cure requires more than fifteen t15) days, immediately initiates s�eps whi�h Lender
<br /> deems in Lender's sole discre�ian to h� suffiicient to cure the d�fault and �hereafter cvntinues and cornpletes all
<br /> reasonab�e and necessary steps su�ficient to produce compliance as soon as reasonably practical.
<br /> RIGHTS AN�3 REMEDIES �N DEFAULT. If an E�ent of Defaul� accurs under this �eed�f Trust, at any time�hereafter,
<br /> Trustee or Lender may exercis�any one or rn�re o�F the f�Elawing rights and reme�lies:
<br /> Ac�eleration Up�n D�fault; Addi#iona[ Remedies. If any E�ent o�Defaul�a�curs as per the terms�f fhe N�te
<br /> se�ured hereby, Lender ma�declare aI[ Indebtedness secured by this Deed�f Trust�a be due and payable and
<br /> the same shall th�r�upvn bec�me due and payable withaut any presentmen�t,demand. protest or natice vf any
<br /> kind. Th�reafter, Lend�r may:
<br /> �ay Either in persan ar by agent, Wi�h or v�rithaut hringing any ac�ion or proceeding, vr by a recei�er
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