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2� 1 ��83�4
<br /> I]EEi� �F TRLJ�T'
<br /> Laa�r� N�: ��13t�D7�4- ���]I�t[�ued� Page �
<br /> Property. Any reconveyan�e�ee required by !aw shal[ be paid by Trusto�-, if permi�ted by applicable law.
<br /> EVEIVTS DF DEFAULT. Each o�the fvllawing, a� Lender's op�ion, shal[ con�ti�ute an E�en� af ❑efau[t under�his De�d
<br /> �f Trust:
<br /> Payment Default. Trustor fiai�s�a make any paym�n�when due under�he Indeb#edness,
<br /> �ther Defaul�s. Trus�ar fails to comp[y with or t❑ perfvrm any ather t�rm, ohligation, co�enant o� condi�ian
<br /> c�ntained in this Deed vfi Trust vr in any of �he Related ❑o�uments ar t� campCy with or to perform any t�rm,
<br /> ab[igatian� c���nan�or condit�an�an�ained in any other agreemenfi betwe�n Lender and Trustflr.
<br /> Camp�iance Defau[t. Fai[ure �� comply with any n�her term, vbliga��an, co�enant �r ��nditian cantained in this
<br /> Deed�f Trust,the Note vr in any of th� Related Documents,
<br /> D�fau[#an �ther Paymen�s. Failure o�Trusta�within �the time requir�d by�his C]eed of Trus�to make any paymen�.
<br /> for taxes ar insuran�e, qr any other payment nec�ssa�y fo pre�ent�i�ing a�vr to eff�ct discharge�f any li�n.
<br /> False Statemen#s. Any warranty, representa�ion or statemenfi made ar �urnished to Lend�r by Trus�ar vr on
<br /> Trustor's beha[� und�r �his Deed af�'rus�ar the Rela��d ❑vcuments is �false or mis�eading in any materia� respec�t,
<br /> eith�r nvw �r at the time m�de or furnished or becomes false ❑r mis�eading at any time thereaf�er.
<br /> De#ectiWe Ca1l�teraiizati�n. This Deed ❑� Trus� ❑r any ❑� the Re(ated Documen�s ceases tv be in �ull �arce and
<br /> effect �including failure a� any callateral document t❑ creat� a va[id and p�rtec�ed security interest vr lien} at any
<br /> �ime and �ar any reasan.
<br /> Insvlvency. The d�ssolution or term�na�i�n of Trustvr's existence as a going business, �he insvl�ency of Trustor,
<br /> the appointmen�t �� a recei�er �or any part o� Trus�or's pr�perty, any assignmen� for the ben��it ❑f c�editars, any
<br /> type of cr�ditvr vuorkau�, �r the �ammencement❑� any praceeding und�r any bankrup��y ❑r insolvency laws by �r
<br /> agains�Trustar.
<br /> Gredi#ar or Fvr�eiture Prv�eedings. C�mm�n�ement afi for���osure ar for�ei�ure prvGeedings, whether by judicia[
<br /> praceedin�, self�heip, rep�sses�ian ❑r any ather me�thod, by any creditar v�Trus�vr or by any go�ernmental agency
<br /> again�t any pr�per�y securing the lndeb��dness. Th�s includes a garnishment �# any of Trus�v�'s accounts,
<br /> inc�ud�ng deposit accaun�s, with Lender. Nawe�er, this Event vf Defauft shall nat app[y �� �h�re is a good faith
<br /> disput� by Trus�ar as ta ��e validity or reasanab[�ness of�he c�aim whi�h is the �asis of the creditor ❑r f�r�ei�ur�
<br /> proceeding and i� Trustor gi��s Lender written n�tice o� the creditar or forfeiture proceeding and depasi�s with
<br /> Lender m�nies vr a surety bvnd �ar�he credit�r or forfe��ure p�oceeding, in an amaunt determined by Lender, in its
<br /> sale discretivn, as being an a�e�ua�re reserv� or band fvr the disput�.
<br /> Breach a���her Agreement. Ar�y breach by Trus�or unde�the terms ❑f any at�e�- agre�men� between Trusto� and
<br /> Lender �hat is nvt rem�died within any grace perivd proWided �her�in, including without lim�ta�ian any agreemen�
<br /> concerning any indebtedness vr othe�ahliga�ion af Trustar ta Lender, whe�her existing nvw ❑r Iater.
<br /> E�ren�s Affec#ing Guaran#or, Any of�he preceding e��nts �ccurs wi�h respec�to any �uaran�or, endorser, sure�y,
<br /> ar ac�ammada�ion party o� any of �he Indeb�edness ❑r any guarantor, endorser, surety, ❑r accommoda�ian pa��y
<br /> dies vr be�ames incampeten�, �r rerrok�s vr disputes �he �alidity v�, or liabili�y under, any Guaranty of �he
<br /> lndebtedness.
<br /> Ad►►erse Change, A materia� ad�erse change occurs in Trustor's financial condi�ion, or Lender belie�es the
<br /> prospect o�paymen�ar performan�e o�th� Indebtedness is impaired.
<br /> lnsecurity. Lender in good�aith be�ie�es i�ts�l�insecure.
<br /> Righfi t�Cure. 1�any de��ul�, a�her�han a de�ault in payment, is cura�le and i�Trustar has nat been gi�en a na�ice
<br /> af a breach�f�he same pro�ision af�his Deed vf Trus�within tl�� preceding twel�e �12} manths, i�may be cured ��
<br /> Trustar, af��r Lender sends wri�ten natice to Trustor c�emanding cure af such default: {1} cu��s the default wi#hin
<br /> fif�een {�5� days; ar {2) if the cure requires more than�ifteen 4�l 5� days, immedia�ely initia�es steps which Lender
<br /> deems in L�nder's sole discretion �o be su���cien� to cure the de�aul'� and thereafter con�inues and camp�etes all
<br /> reasonable and n�cessary steps sufficient ta produ�e campliance as saon as reasanab�y practica�,
<br /> RIGHTS AIVD RE�IIEDIES CICI� DEFAULT. l� an Event vf D�fiault oc�urs under this C]eed a�Trust, at any�ime �hereafter,
<br /> Trustee❑r Lender may exer�ise any ane ar mvre of�h�fo(lowing righ�ts and remedies:
<br /> Accelerativn Upan Defau[t; Additiona[ Remedies. If �ny E�ent v� D��ault oc�urs as per�h� terms ❑�fihe Note
<br /> secured her�eby; L�nder may dec�are ali lnd�btedness secured by�his C3eed vf Trust ta be due and payable and
<br /> �he same shall�hereupon becom� due and payable withau�any pr�sen�m�n�, demand, pra�es�or no�ice o�any
<br /> kind. Thereaft�r, Lender may:
<br /> {a� Either in person ar by agent, with ❑r wifih�u� bringing any a�tion ar proc�eding, or by a receiver
<br /> appainted by a �aur�t and with�ut r�gard �o �the adequacy v� 'rts securi�y, enter upvn and take passession
<br /> of�h� Prvper�y, or any part�hereo#�, in its ❑wn name ar in the nam� of Trustee, and d� any acts which it.
<br /> deems necessary or desirable �o pr�ser�� the �a�ue, marke�tability or ren�ability af the Property, or part o�
<br /> th� Property or in�eres� in the Proper�y; increase the incvme frvm �he Property or pratect�he s��uri�y of
<br /> the Praperty; and, with ar v�i�hau� �aki�ng poss�ssion af �he Proper�y, sue far or o�herwise co��ec� the
<br /> ren�s, �ssu�s and pro�its v# �he Prflper�y, including �hase pas� due and unpa�d, and appiy the same, less
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