|
. . 2� 1 ��82�4
<br /> DEE� �F T'RU�T
<br /> Lc+an No: 7�'13�q'[8� �C�t�tinu�d� P�ge 6
<br /> with the matters referred ta in this p�rag�aph.
<br /> Attorney-in-Fact. I�Trustor fails to d❑ any of the thi�gs re#erred�o in th� preceding paragraph: Lsnder mEay dv sa
<br /> far and in the name of Trustar and at Trustor's expense. For such pu�-pvses, Trustar her�by i�re�ocably appoints
<br /> Lender as Trustar's attorney-in-fact for the purpose of rr�aking, executing, deli�erir�g, filing, re�ording, and do�ng al�
<br /> other things as may be ne�essary or desirak�le, in Lender's sale opinion, t❑ accamplish the m�itters referred #a in
<br /> the preceding paragraph.
<br /> FULL PERF�RMANCE. I� 8orrower and Trus�or pay ail the Indehtedness, including wi�haut �irnitation ��ll future
<br /> advances, wh�n due, and Trustar otherwise perfarms all the oh�igations imposed upon Trustor under this Deed of Trust,
<br /> Le�der shall execute and deii�e�' ta Trustee a request for fu�� recon�eyan�e and shail exe�ute an�� del��er t« Trustvr .
<br /> su�tabfe statemen�s af term�nat�on of any financing statement on fiie evidencin� Lender`s security i��terest in #�he Rents
<br /> an� the Personal Prape�ty. Any �econ��yance �ee required by [aw shall be paid by Trustar, if per��itted by c�pp[icable
<br /> lavv.
<br /> EVENTS �]F DEFAULT, Each ❑f the fa�lowing, at Lender's vption, sh�l! canstitute an E�ent of Defaul� under i:his Deed
<br /> of Trust:
<br /> P�ym�nt Default. B�rr��ver fai�s to make any payment when due under the Indebtedness.
<br /> flther Defaults. Borrower or Trusta� fails to camply with or to perfarrn any o�her term, ablit�ation, co��enant or
<br /> condition �ontained in this D�ed o��rust or in any of�he Re�ated Do�uments vr to ct�mply wit�� or tv perfarm any
<br /> terrn, �bligatian, co�enant or cvndi�ion con�ained in any other agreement between L�nder and Bc�rrower or Trustnr.
<br /> CQmpliance De#au1t. Failure ta comply with any other term, vbligatian, covenant vr conditian cantain�:d in this
<br /> Deed of Trust, th� Nate or in any of�he Related ❑ocuments.
<br /> ❑efault on�#her Payments. Fai[ure flf Trustor within the time required by this ❑eed ❑�Trust t� make any payment
<br /> �ar taxes�r insurance,❑�any other payrn�nt necessary to pre�ent filing of or t❑effect discharg� ❑f any lien,
<br /> False Statements. Any warranty, r�presentatian or s�atement made�r furnished tv Lender by E3orro►nrer c�r Trustor
<br /> or on Barrav�rer's or Trustor's behalf under�his Deed o� Trust �r the R�lated Gocume�ts is fals� or misl�ading in
<br /> any materia! respect, either now �r at the time made or furnished or hecomes false or rnis���ading at any time
<br /> thereafter.
<br /> DefeGtiue Co�lateraliiatEQn. This Deed o� Trust �r any vf the Re�ated Docum�n�� c�ases to �3e in full force and
<br /> effe�t {including failure of any coffatera( dacument�a create a �a�id and perfected se�urity int�;rest vr lien� at any
<br /> tirne and far any reasan.
<br /> Death or Insal�ency. �he dissal�tion af T�ustar's Rr�gardless a� whether electior� to continue is mt�dey, any
<br /> mernber withdraws frorn the limited�iahifity company, or any ather�e�-m�nation af Bo�rawer's or Trustor`s�xistence
<br /> as a gaing k�usiness ar the dea�h af any m�rnher, the �ns�l�ency ❑f Bvrrowe� vr Tru��or, �h4? appaintment af a
<br /> rec�i�er #or any part of �orrower's or Trustor's propert�, any assi�nment far �he �enefit Q� cr�:ditars, any type af
<br /> �reditor warkout, or the Comrnencement of any proceeding under any bankruptcy or insol�en�y �avvs by c�r against
<br /> Borrower ar Trustar.
<br /> Credi#or or Forfeiture Prflceedings. Cammencement af foreclosure or for#e�ture proceedings, whether by� judi�iai "
<br /> prac�ed€ng, self-help, repos�ession vr any other methvd, by any creditor af Borra��ver or Trustor ❑�� by any
<br /> ga�ernmental agency against any property s�curing the Indebtedness. This includes a garrtishrnent C�i any of
<br /> Borrower's ar Trustor's accoun�s, �n�luding deposit accounts, virith Lender. Howe�er, this E���nt of �e�du�t s�all
<br /> not app�y if there is a good �aith dispute by Borrawer❑r Trustor as to the �a[idit� or reasona�leness ���t�e claim
<br /> which is the basis o�the credi�or ar forfeiture proceeding and if Borrower or Trustvr gives Lender wr�t�en na�ice vf
<br /> the creditar o�farfei�ur� proceeding and deposits wi�h Lender m�nies or a surety bnnd for the �reditor or �or�e�ture
<br /> proceeding, in an amvunt determined by Lender, in i�s sale discr�tion, as being an adequate res��rve or bor�d far the
<br /> dispu��.
<br /> Breach o��ther Agreem�nt. Any breach by B�rrower ar Trustar under�he terms of any oth�r ��greement between
<br /> Borrower ar Trustor and Lender th�t is nat remedied within any grace periad pro�ided therei�;, inc�udinc; with�u�
<br /> [imitation any agreement concerning any indebtedness ar afiher obligation v� Borrawer ❑r Trustar #�� Lender,
<br /> whether existing now o��ater.
<br /> Even#s Affe�ting Guarantar. Any of the preceding even�ts occurs with respect to any �uaran�ar, endorser, surety,
<br /> o� accammadativn party of any o� the indeb�tedness or any guarantvr, endorser, sur�t�, vr ac�ommodati��n party .
<br /> d�es ar bec�mes incornpeten�, or re�okes or disputes the �alidity ❑f, �r liability under, any Guaran�y of �he
<br /> I ndsbt�d ness.
<br /> Ad�erse Ghange. A mater�a� ad�ers� change vGcurs in Barrower's o� Trustar's financia� cs�ndition, ar Lender
<br /> belie�es th� praspect a�payment or perfarmance o�the Indebtedness is impaired.
<br /> Ins�curi�y. Lender in good�aith belie�es itself insecure.
<br /> Righ�to �ure. If any default, ❑th�r than a de�ault in payrnent, is curabie and if Trustor has not been giver� a notice
<br /> of a brea�h a�the same pro��sian nf this ❑eed❑f Trust within the precedEng twe��e �1�y months, �t may b4� cured i�
<br /> Trustor, after Lender sends written na�ice �o Borrower demand'€ng Gure o� such default: t 17 cures th� default
<br /> within fifteen ��5} days; or ��y if the cure requires mare than ��fteen ('15) days, imm�diately irGitiates ste�s which
<br />
|