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2� 1 ��4121
<br /> DEED C3F TRUST
<br /> 4�ontinued� Page 5
<br /> [aw.
<br /> EVENTS OF DEFAULT. Each ��the �allowing, at Lend�r's option, shall �onstitu�e an E�ent af aefault und�r �his Deed
<br /> of Trust:
<br /> Payment Default, Borrower fails�o make any payment when due under the Indeb��dness.
<br /> Dther Defaults, Borrower ar Trustor �ails to comply with ❑� to perform any a�her t�rm, obligatian, co�enan� or
<br /> candi�ion con�ained in this Deed of Trust or in any of the Re�ated D�cum�nts or to c�mply with or to perform any
<br /> term, ❑bligation, co�enant or��nd�tion contained in any ath�r agre�ment between Lender and B�rr�wer ar Trustor.
<br /> Cvmpliance Default. Failure t� comply with any o�her te�m, obligat�on, cv�enant or candition cvntained in this
<br /> Deed a�Trust, �he Note❑r in any flf the Related Dvcuments.
<br /> Default on ��her Payments. Fai�ure o�Trustor within the�ime required by this Deed of Trust ta make any paymen�
<br /> �vr taxes or insuran�e, or any other payment necessary to pre�ent fif�ng of or to e��ect discharge of any lien.
<br /> De�ault in Fa►ror of Third Parties. Should Borrower or any Grantor defaul� under any I�an, extension of credit,
<br /> seGu�ity agreement, purchase or sales agreemen�, or any other agreement, in fa�or af any other creditor or person
<br /> that may materially affect any of Sorrower's or any Grantor's praperty or Borrow�r's a�ili�y to repay the
<br /> Indehtedness or Borrower's or Gran�ar's ahility �[o per�orm �h�ir respec�i�e obl�gativns under this De�d of Trust or
<br /> any of�he Related Documents.
<br /> False Statements. Any war�anty, representa�i�n ar statement made or furnish�d r� Lend�r by Borrower or Trustor
<br /> ❑r on B�rrower's or Trustor's behalf under �his Deed of Trust o� the Related Documents ts #alse ar misleading in
<br /> any material respect, ei�h�r now ar at the time made or furnished or becomes false ar misleading at any time
<br /> �hereafter.
<br /> Defecti►►e Coi�atera�izativn. This ❑��d �� Trust or any of the Related Dacuments ceases to he in �ull farce and
<br /> effec� �including failure of any cvllate�al document �o �rea�e a �alid and per�ec�ed secu�ity in�erest or lieny at any
<br /> time and far any reason.
<br /> Insolven�y. The dissolut�on ❑r��rmination a�F the Trust, the insvl�ency �� Borrower ar Trus�or, the appointment❑f
<br /> a recei�er�or any part a� Borrower's or Trust�r's praperty, any assignmen�far the benefit of creditors, any�ype vf
<br /> creditar workou�, ❑r the Gommencemen�of any proceeding under any bankrup�cy ar �nsalvency �aws by ❑r agains�
<br /> g�rrawer�r Trus�ar.
<br /> �reditar or For#eiture Prviceedings. Commencement a� #oreclosure ar forfeiture proc�edings, whether by judicial
<br /> pro�eeding, self-he�p, repassession vr any other method, by any cr�ditor of Borrawer or Trustor or hy any
<br /> go�ernmental agency against any praperty securing the Indehtedness. This includes a �arnishment of any o�
<br /> Borrower�5 �I" TTLk5��1''s a�coun�s, inciuding d�posit accounts, with L�nder. Howe�er, this E�ent �� Default sha�1
<br /> not apply if �here �s a good #aith dispu�e �y Borrower or Trustor as to �h� �alidity or reasonab[eness af the claim
<br /> wh�ch is the hasis vf�he credit�r❑r forfeiture prv�eeding and if Borrower ar Trustor gi�es L�nder wri�ten not�ce of
<br /> the creditor or farfei�ure proceeding and deposi�s with Lender monies ar a surety bond #or the credi�or or far�Fei�ure
<br /> prQceeding, in an amaun�determined hy Lender, in its sole discret�on, as being an adequate reser�e�r bond for�he
<br /> dispu�e.
<br /> Breach of�ther Agreement, Any breach �y Borrower or Trustor under the�erms af any other agreement t�e�ween
<br /> Borrawer or Trus�or and Lender that is no� r�medied within any gra�� p�riod pro�ided therein, in�luding withaut
<br /> limitation any agreement concern�ng any ind�btedness or ❑ther obligation af Borrov►rer ar Trustar �� Lender,
<br /> whether existing nvw or fater.
<br /> E�ents A#fec#ing Guarantar. Any of th� p�eceding e�ents occurs w��h respect ta any guarantor, end�rser, surety,
<br /> or accommflda�ion party of any of the Indebtedn�ss vr any guarantar, end�rser, surety, or ac�ommodatian party
<br /> dies or becomes incompetent, or re�okes ar disputes the �a�idity of, or liability under, any Guaranty af the
<br /> �ndeb�edness.
<br /> AdWerse Change. A material ad��rse �han�e occurs in Borrawer's or Trustar's financial conditian, or Lender
<br /> belie�es the prospe�t of paymen�or per�ormance o�the �ndebtedness is impair�d.
<br /> Insecurity. Lender in gvad faith bel�e�es i�self insecur�.
<br /> Right ta Cure. I�any default, other than a de�ault in payment, is curable and if Trustor has not been given a notic�
<br /> of a breach of the same pro�ision o�this �eed of Trus�within the preceding twel�e �12� mon�hs, it may be cured i#
<br /> Trustar, afte� Lender sends written no�ice tfl Borrower d�manding cure of such default: �1� cur�s �he de�ault
<br /> within�wenty �2�� days; vr ��� if the cure requires more than�wenty 4��y days, �mmedia�ely in�tiates steps which
<br /> Lender deems in Lender's so[e discretion to be suf�icient ro cure the default and therea�ter con�inues and
<br /> comple�es ail reasonahle and necessary steps sufficient to produce complian�e as soon as r�asanat�ly practical.
<br /> R�GHTS AND REIVIEDIES flN DEFAULT. �f an E�snt Qf Defau�t o�curs under this Deed ❑f Trus�, at any time the�eafter,
<br /> Trustee or Lender may exercise any one or more o�the f�llowing rights and r�m�dies:
<br /> A�ceiera�ivn Upon Defauit; Additivnal Remedies. If any E�ent af Default occurs as p�� the terms of the Note
<br /> secured her�by, Lender may d�clar� all [ndebtedness secured by this Deed of Trust to be due and payable and
<br /> the same shail ther�upan become due and payable without any presentmen�, demand, pra�est�r notice of any
<br /> kind. Therea�fter, Lender may:
<br /> �a� E�ther in person or by agent, with or wi�hout bringing any actian or pro�eeding, o� hy a recei���
<br /> appointed by a court and w�thau� regard to the ad�quacy af its securifiy, enter upvn and take possessi�n
<br /> of the Property, or any part�hereof, in its ❑wn nam� or in the nam� of Trustee, and do any a�ts which it
<br /> deems ne�essary or desirabie to preser�e the�alue, marketabifity ❑r ren�ability of the Prvperty, or part o�
<br /> the Property or interest in the Property; increase the income from the Property �r pratect the se�urity o�
<br /> the Property; and, with or without �aking possessivn of �he Property, sue far ❑r otherwise colle�t �he
<br /> rents, issues and profits af the Prope�ty, including thvse past due and unpaid, and app[y the same, (ess
<br /> costs and expenses of operation and collectian attarneys' fees, t� any indebtedness secur�d by�his Deed
<br /> of Trust, all in such order as Lender may determ�ne. The entering upon and taking passession o� the
<br /> Property, the cofiection o� such rents, issues and profits, and �he application thereof shall nvt �ure or
<br /> waive any defau�t ar notice of default under this [Jeed �f Trust or in�alidat� any act dane in resp�nse �o
<br /> such de�faul�ar pursuant ta such notice of default; and, no�withstanding the �ontinuance �n p�ssession of
<br /> the Property or �he collecti�n, re�eipt and application of rents, issues ar profits, Truste� or Lender shal!
<br /> be entit�ed to exercise e��ry right pr���ded for �n the Note or the Related Documen�s or by law upon th�
<br /> o�currence of any e�ent o�defaul�, inc�uding �he right�ko exercise the power o�sale;
<br /> �b� Cvmmen�e an ac�ion�o fore�lvse�his Deed a�F Trust as a mort�age, appaint a recei�er or spe�ifical[y
<br /> enf�rce any of the �o�enants hereof; and
<br /> �c� Del��er to Trustee a written declaration of default and demand for sale and a written natice o�default
<br /> and electian ta cause Trustor's interes�in the Property to be sold, which notice Trustee shall caus� to be
<br /> duly filed�o� record in the appropr�ate offices a�the Caunty in which the Praper�y is focated; and
<br /> �dy 1111i�h respect t� al� or any part o#the Pers�nal Property, Lender shall ha�e all �he rights and remedies
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