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2� 1 ���573
<br /> DEED �F TRUST
<br /> Laan Na: �U7�9�7 39 ��C]nt�nued� Page 6
<br /> on file e�idencing Lender's security interest En the Rents and the Persvnaf Prvperty. Any recon�eyan�e fee required by
<br /> law shafl be paid by Trustor, if perm�tted by applicabfe faw.
<br /> EVENTS []F DEFAULT. Each of the foffvwing, at Lender's opt�on, shafl �onstEtute an E�ent of Default under this Deed
<br /> ❑f Trust:
<br /> Payment Default. Borrower fails�o make any payment when due under�he Indebtedness.
<br /> []ther Defaults. Borrower or Trustor fails to �omply with or �o perform any o�her �erm, obligation, �o�enan� or
<br /> condi�ion �ontained in �his Deed of Trust vr in any ❑f the Related Dv�uments or tv �vmply with or to perform any
<br /> term, ❑bfigation, �o�enant or condition �ontained in any other agreemen�between Lender and Borrower or Trustor.
<br /> Complian�e Default, Failure to �ompfy wi�h any vther term, vbligation, �o�enant or �ondition �ontained in this
<br /> Deed vf Trus�,the Nv�e❑r in any vf the Related Do�uments.
<br /> De�auit on[]ther Payments, Failure vf Trustor within the time required by this Deed of Trust to make any paymen�t
<br /> fvr taxes vr insuran�e, ❑r any other payment necessary t❑ pre�ent filing of vr t❑ effect discharge vf any lien.
<br /> False Statements. Any warranty, representation or statement made or furnished tv Lender by Bvrrower or Trustor
<br /> ❑r on Borrower's or Trus�or's behaff under this Deed of Trust ❑r the Related Do�uments is fafse or misleading in
<br /> any mater�al respe��, ei�her now or at the time made or furnished or becomes false ❑r misleading at any ��me
<br /> thereaf�er.
<br /> De�ecti►re Co!la�eralization. This Deed of Trust or any of �he Related Do�uments ceases to be in fufl force and
<br /> effe�t �in�luding faElure vf any �vflateral do�ument to create a �alid and perfe�ted se�ur�ty interes�t or �ien� at any
<br /> time and for any reasvn.
<br /> Death or inso!►rency. The dissolution ❑r termination of Borrower's or Trustor's existence as a going business, the
<br /> insol�ency of Borrower or Trustvr, the appointmen� vf a re�ei�er for any part of Borrower's vr Trustor's property,
<br /> any assignment fvr the benefit❑f�reditvrs, any type vf�reditvr wvrkout, or the �ommen�ement vf any pro�eeding
<br /> under any bankrupt�y or insvf�ency laws by or against Borrvwer or Trustor.
<br /> Credi�or or Forfeiture Proceedings. Commen�emen� of fore�losure or forfeiture pro�eed�ngs, whether by judi�Eaf
<br /> pro�eeding, self�heip, repossess�on or any other method, by any �red��or of Borrower or Trustor or by any
<br /> go�ernmental agen�y agaEns� any prvper�y se�urEng �he �ndebtedness. This in�ludes a garnishment of any of
<br /> Borrower's vr Trustor's a��ounts, in�luding deposi� a��ounts, with Lender. Howe�er, this E�en� vf Defaul� shall
<br /> not apply if �here is a good faith dispute by Borrower or Trustor as �o the �alidi�y or reasonableness of the �laim
<br /> whi�h Es the basis ❑f�he �redEtor or forfe�ture proceeding and if Borrower or Trus�or gi�es Lender wri�tten nvtice of
<br /> the cred�tor or forfeiture pro�eeding and deposits with Lender monies or a surety bvnd for the �red�tor vr forfeiture
<br /> pro�eeding, in an amvun�determined by Lender, �n its sole dis�retivn, as being an adequate reser�e vr bvnd fvr the
<br /> d�spute.
<br /> Breach of[]ther Agreement. Any brea�h by Borrvwer❑r Trustor under the terms of any ❑ther agreement be�ween
<br /> Borrower ❑r Trustvr and Lender that is not remedied within any gra�e period pro�ided therein, in�luding without
<br /> limitation any agreement cvn�erning any �ndebtedness ❑r other obfigation vf Bvrrvwer ❑r Trustvr tv Lender,
<br /> whether existing now or later.
<br /> E►ren�s A#fec�ing Guaran�or. Any of the preceding e�ents o��urs with respe�t to any guarantor, endorser, surety,
<br /> or a�commodat�on par�y of any of �he Fndebtedness or any guaran�or, endorser, surety, or a��ommodation party
<br /> dies or be�omes incompetent, or re�okes or disputes the �alidity of, or liab�li�y under, any Guaranty of the
<br /> Indebtedness.
<br /> Ad►rerse Change. A mater�al ad�erse �hange occurs in Borrower's vr Trustvr's finan�ial cvndition, ❑r Lender
<br /> belie�es the prospe�t vf payment or performance vf the lndeb�edness is impaired.
<br /> lnsecurity. Lender in good fai�th belie�es itself�nse�ure.
<br /> Right to Cure. If any default, o�her than a default in payment, is curable and if Trustor has not been gi�en a no�i�e
<br /> ❑f a breach of the same pro�ision of this Deed of Trus� within the pre�eding twel�e ���� months, it may be cured if
<br /> Trustvr, after Lender sends written nv�i�e to Borrvwer demanding �ure of su�h default: ��� �ures the default
<br /> within fifteen ��5� days; or ��y if the �ure requires mare than fif�een ��5� days, immediate�y initiates s�eps wh�ch
<br /> Lender deems in Lender's sole dis�retion to be suffi�ien� tv �ure the default and thereafter �ontinues and
<br /> �ompfe�es all reasonable and necessary s�eps suffi�ient tv prvdu�e compfian�e as soon as reasvnably pr'act��al.
<br /> RiGHTS AND REMEDlES []N DEFAULT. lf an E�ent of Defaul�o��urs under this Deed of Trust, a� any t�me thereafter,
<br /> Trustee or Lender may exer�ise any one❑r more of�the fvllowing rights and remedies:
<br /> Acceieration Upon Defauit: Additiona! Remedies. If any E�ent of Default o��urs as per the terms of�he Note
<br /> se�ured hereby. Lender may de�lare all Indebtedness se�ured by�his Deed of Trust to be due and payable and
<br /> the same shall thereupon becvme due and payable withvut any presentment, demand, protest vr nvtice of any
<br /> kind, Thereafter, Lender may:
<br /> �a� Either in person ❑r by agent, wEth ❑r withvut bringing any a�tion or pro�eeding, or by a re�ei�er
<br /> appointed by a �ourt and w�thout regard t❑the adequa�y of its security, enter upon and take possession
<br /> ❑f the Property, ❑r any par�t thereof, in its own name or in the name of Trustee, and do any a�ts whi�h it
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