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INVVVVV 1 111
<br />11. LENDER'S RIGHT TO COMMPNCE OR DEFEND LEGAL. ACTIONS. Granter shall immediately provide Lender with written notice of any actual or
<br />threatened action, suit, or other proceeding affecting the Property. Grantor hereby appoints Lender as its attorney -in -fact to commence, intervene in, and
<br />defend such actions, suits, or other legal proceedings and to compromise or settle any claim or controversy pertaining thereto. Lender shall not be liable to
<br />Grantor for any action, error, mistake, omission or delay pertaining to the actions described in this paragraph or any damages resulting therefrom. Nothing
<br />contained herein will prevent ! -ender from taking the actions described in this paragraph in its own name.
<br />12. INDEMNIFICATION. Lender shall not assume or be responsible for the performance of any of Grantor's obligations with respect to the Property under
<br />any Girl un!slances. Grantor shall imrnediately provide Lender with written notice of and indemnify and hold Lender and its shareholders, directors, officers,
<br />employees and agents harmless from all r;lai!ns, damages. liabilities (including attorneys' fees and legal expenses), causes of action, actions, suits and
<br />other leua! proceedings (cumulatively 'Claims ") pertaining to the Properly (including, but not limited to, those involving Hazardous Materials). Grantor, upon
<br />the request of Lender, shall hire legal counsel to defend Lender from such Claims. and pay the attorneys' fees, legal expenses and other costs incurred in
<br />connection therewith. In the alternative. Lender shall be entitled to employ its own legal counsel to defend such Claims at Grantor's cost. Grantor's
<br />obligation to indemnify Lender under this paragraph shall survive the termination, release or foreclosure of this Deed of Trust.
<br />13. "TAXES AND ASSESSMENTS. Grantor shall pay all taxes and assessments relating to Property when due and immediately provide Lender evidence
<br />of payment of same. Upon the request of Lender, Grantor shall deposit with Lender each month one- twelfth (1/12) of the estimated annual insurance
<br />premium, taxes and assessments pertaining to the Property. So long as there is no default, these amounts shall be applied to the payment of taxes,
<br />a ,.ssessments and insurance as required on the Property. In the event of default, Lender shall have the right, at its sole option, to apply the funds so held to
<br />pay any taxes or against the OHiga!ions. Any funds applied may, at Lender's option, be applied in reverse order of the due date thereof.
<br />14, INSPECTION OF PROPERTY. BOOKS, RECORDS AND REPORTS. Grantor shall allow Lender or its agents to examine and inspect the Property
<br />and examine, inspect and make copies of Granter's books ar!d records pertaining to the Property from time to time. Grantor shall provide any assistance
<br />required by Lender for these purposes. All of the signatures and information contained in Grantor's books and records shall be genuine, true, accurate and
<br />complete in all respects. Grantor shall note the existence of Lender's beneficial interest in its books and records pertaining to the Property. Additionally,
<br />Grantor shall report, in a form satisfactory to Lender, such information as Lender may request regarding Grantor's financial condition or the Property. The
<br />information shall be for such periods. steal! refiecl Grantor's records at such time, and shall be rendered with such frequency as Lender may designate. All
<br />information furnished by Grantor to Lender shall be true, accurate and complete in all respects, and signed by Grantor if Lender requests.
<br />15. ESTOPPEL CERTIFICATES. Within ter! (t 0) days after any request by Lender. Grantor shall deliver to Lender, or any intended transferee of Lender's
<br />rights with respect to the Obligations, a signed and acknowledged staternenl specifying (a) the outstanding balance on the Obligations; and (b) whether
<br />Grantor possesses any claims, defenses, set -offs or counterclaims with respect to the Obligations and, if so, the nature of such claims, defenses, set -offs or
<br />counterclaims. Grantor will be condusively bound by anv representation that Lender may make to the intended transferee with respect to these matters in
<br />the event that Grantor fails to provide the requested statement in a timely manner.
<br />16. DEFAULT. Grantor shall be in default under this Deed of Trust and the Trustee's power shall become operative in the event that Grantor, Borrower of
<br />any guarantor of the Obligations:
<br />(a) fails to pay any Obligation to Lender when due;
<br />(b) fails to perform any Obligation or breaches any warranty or covenant to Lender contained in this Deed of 'Trust or any other present or future
<br />agreement:
<br />(c) destroys, loses or damages the Property in any material respect or subjects the Property to seizure, confiscation, or condemnation;
<br />(d) seeks to revoke, terminate or otherwise limit ifs liability under any guaranty to Lender;
<br />(e) dies, becomes legally incompetent, is dissolved or terminated, becomes insolvent, makes an assignment for the benefit of creditors, fails to pay
<br />debts as they become due, files a petition under the federal bankruptcy laws, has an involuntary petition in bankruptcy filed in which Grantor, Borrower
<br />or any guarantor is named, or has properly taken under any writ or process of court;
<br />(f) allows goods to be used, Iransported or stored on the Properly, the possession, transportation, or use of which. is illegal;
<br />(g) allows any parry other than Grantor or Borrower to assume or undertake any Obligation without the written consent of Lender; or
<br />(hl r- .mjsps Lender to deem itself insecure date to a significant decline in the value of the Property, or if Lender, in good faith, for any reason, believes
<br />111,31 the prospect of payment or perfornkance is impaired.
<br />IT RIGHTS OF LENDER ON DEFAULT. If there is a default under this Deed of Trust, Lender shall be entitled to exercise one or more of the following
<br />remedies withcut notice or demand (except as required by law):
<br />(a) to declare the Obligations immediately due and payable in full;
<br />(b) to collect the outstanding Obligations with or without resorting to judicial process;
<br />(c) to require Grantor to deliver and make available to Lender any personal property or Chattels constituting the Property at a place reasonably
<br />convenient to Grantor and Lender;
<br />(d) to enter upon. and take possession of the Property without applying for or obtaining the appointment of a receiver and, at Lender's option, to
<br />appoint a receiver without bond, without first bringing suit on the Obligations and without otherwise meeting any statutory conditions regarding
<br />receivers, it being intended that Lender shall have this contractual right to appoint a receiver;
<br />(e) to employ a managing agent of the Property and let the same, either in Trustee's own name, in the name of Lender or in the name of Grantor, and
<br />receive the rents, incornes, issues and profits of the Property and apply the same, after payment of all necessary charges and expenses, on account of
<br />the Obligations,
<br />(f) to pay any surns in any form or nkanner deemed expedient by Lender to protect the security of this Deed of Trust or to cure any default other than
<br />payment of interest or principal on the Obligations;
<br />(g) to foreclose this Deed of Trust judicially or nonjudicially and to direct the sale of the property through exercise of the power of sale as referenced in
<br />paragraph 2.0 hereof in acccordance with applicable law,
<br />(h) to set -off Grantor's Obligations against any amounts owed Grantor by Lender including, but not limited to, monies, instruments, and deposit
<br />accounts maintained with Lender or any currently existing or future affiliate of Lender; and
<br />(!) to exercise all other rights available to Lender under any other written agreement or applicable law.
<br />Lender's rights are cumulative and may be exercised together, separately, and in any order. in the event that Lender institutes an action seeking the
<br />recovery of any of the Property by �,vay of a preiudgrnenl remedy in an. action against Grantor, Grantor waives the posting of any bond which might
<br />otherwise be required. Lender or Lender's designee may purchase the Property at any sale. Proceeds of any Trustee's sale hereunder shall be applied
<br />first, to the costs and expenses of exercising the power of sale and of the sale, including the payment of the Trustee's fees actually incurred and not to
<br />exceed the amount which may be provided for in this Deed of Trust, second, to payment of the Obligations secured hereby, third, to the payment of junior
<br />trust deeds, mortgages, or other !iei !holders. and the balance, if any, to the person or persons legally entitled thereto. The property or any part thereof may
<br />be sold in one parcel, or in such parcels, manner or order as Lender in its sole discretion may elect, and one or more exercises of the power herein granted
<br />shall not extinguish or exhaust the power- in iless the er!tire property is sold or the obligations are paid in full.
<br />18. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to sell Grantor's interest in the Property by exercise of the power of
<br />sale herein contained, Lender shall notify Trustee in the mariner then required by law.
<br />Upon receipl of such notice of Lender and at the direction of Lender, Trustee shall cause to be recorded, published and delivered such notices of default
<br />and notices of sale as may then be required by law and by this Deed of Trust. Trustee shall, only at the direction of Lender and without demand on Grantor,
<br />after such time as may then be required bylaw and after recordation of such notice of default and after notice of sale having been given as required by law,
<br />sell the Property at the lime and pia;e of sale fixed by it in such notice of sale, either as whole or in separate lots or parcels or items as Lender shall deem
<br />expedient, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States payable at the time of
<br />sale. or -a rrihemise may then he required by la,v. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds
<br />co!rveyi!�q the property so sold, but vvilhout any covenant or warranty. express or implied. The recitals in such deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof Any person. including, without limitation, Grantor, Trustee or Lender, may purchase at such sale. Trustee may
<br />in the manner provided by law postpone sale of all or any portion of the Property.
<br />19. REQUEST FOR NOTICES: Grantor requests that a copy of any notice of default and a copy of any notice of sale hereunder be mailed to each person
<br />who is a party hereto at the address of such person set forth herein at the same time and in the same manner required as though a separate request thereof
<br />had been filed by each such person.
<br />NFDCTG Rev. 12;9,7
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