201700064 - Laserfiche WebLink

Browse

2� 17��4* DEED �F TRUST . Lvan Nv: '1�'13��8�7 �CDnt�nued} Page 6 term, ❑b�igation, cv�enan�❑r canditi�n contained in any❑ther agreement between Lender and Bvrrower or T�ustor. Comp�iance Default. Fai�ure to comply with any �ther term, abligativn, cv�enant ❑r condition con�ained in this Deed of Trust,fihe Note or in any of the Related l�acuments. Defau[t on ��her Payments. Failure�fi Trus�vr wi�hin the time required by�his Deed o�Trust t❑ make any paymen� for taxes or insuranc�, vr any ather payment necessary tv pre�en�filing of ar to effec�discharge❑f any lien. Fa�se 5tatements. Any warran�y, represenfia�ion ❑r s�atement made ❑t-furnished ta Lender by Borrawer ar Trustar or vn Bvrrower's ar-Trus�ar's hehal� under this ❑eed vf Trus� or the Rela�ed I�ocumen�s is false or mis�eading in any mafierial respect, either now or at the time made or �urnished vr becomes �a1se or misleading a� any �ime thereafter. De�ective Callateralizati�n. This Deed of Trust or any v� �he Related ❑ocuments ceases to be in full force and effect �including �ailure of any Gollateral document to create a �alid and perfiec�ed se�urity interes� or lien} at any time and for any reason. I]eath or lnsolven�y. The dissalution ❑r terminatian ❑f 6orrower's ❑r Trustor's existence as a going business, �khe insol�ency o-� Bvrrowe�-or Trustor, �the appointmenfi of a recei�er�for any part ❑f Borrower's vr Trustvr's proper�y, any assignment�f�r�he bene�it o��redi�vrs, any type of creditor workout, ❑r the commen�emen�af any proceeding under any hankruptcy or insalWen�y laws by❑r against 8orrower❑r Trust�r. Credi#or or Forfeiture Proceedings. Commencement af �forecf�sure ❑r �or�eiture proceedings, whe�her by judicial proceeding, self-help, repossession or any ❑�her me�hod, by any creditor vf Borrower ❑r Trus�or ❑r by any go�ernmenfial agency agains� any p��perty securing the lndebtedness. This includes a garnishmen� ❑� any ❑f Bvrrawer's ❑r Trustor's accvunts, including depasit a��ounts, with Lender. Howe�er, this E�en�k ❑f ❑efaul� shall no� apply if there is a gaod faith dispu�e by gorrower ❑r T�rus�ar as �❑ the �alidity ❑r reasanableness vf fihe claim whi�h is fihe basis ❑f�he creditor�r�or�eiture proceeding and if B�rrower or Trusfivr gi�es Lender written notice af �he credi�or or for�eifiure proceeding and dep�sits wifih �ender monies ar a surety bond for the creditor❑r�orfeiture prviceeding, in an amount de�ermined by Lender, En its svle discreti�n, as bein� an adequafie reser�e or bond f�r the dispu�e. Breach o��fher Agreement. Any 1a�-each by Borr�wer or Trusfivr under the terms a#any o�her agreemen�befiween Svrrvwer ar Trustar and Lender tha� is not remedied within any graGe perivd pro�ided the�ein, including withvufi limitation any agreement cancerning any indebtedness ❑r o�her obl�gation a�f Borrawer or Trusta� ta Lender, whe�her existing now or Ea��r. E►rents Affecting Guarantar. Any ❑f the pre�eding �Wents occurs with respe�t t❑ any guarantar, endorser, surety, or accammoda�ion party vf any �f fihe lndebtedness �r any gua�-an��r, endorser, sure�y, or accammodation par�y dies or becames incompe�ent, ar re�vkes or dispu�es �he �aEidi�y of, or liability under, any Guaranty �f �he lndebtedness. Adverse Ghange. A material ad�erse �hange occurs in Barrower's or Trustor`s financial condition, or Lender belie�es the praspe�t o�payment a�-per€�rmance❑f�he Indebtedness is impaired. Ins�curity. Lender in good fai�h 1ae�ieves ttse[�f insecure. Right to Cure. If any de�fauit, other�han a defiaul�in payment, is curable and i�Trus�or has not been gi�en a notice of a breach❑f the same pro�isian o�F this Deed of Trust within the preceding twel�e ��2} mon�hs, it may I�e cured if Trustor, after Lender sends wri�ten nfl�kice to Barr�rrver demanding cure v-� such defaul�: {1} �ures the defiaul� within ��teen 4'15� days; or �2} if the cure requires more�han fifteen 415} days, immediafiely ini�iates steps which Lender deems in Lend�r's sole dis�refiion to be suf�icfen� to �u�e �he defaulfi and therea�ter can�inues and cvmpfe�es all �easona�Ie and necessary steps sufficient to pradu�e compliance as so�n as reasonably pra�t�cal. RiGHTS AN1� RENiED1ES �N DEFAULT. I�an E�ent of Defiault o�cu�s under�his Deed of Trust, a� any�ime thereafter, Trus�fiee or Lender may exercise any ane ar more of�he fo�lowing righ�ts and remedies; AGceleration Upan Defau��; Additivnal Remedies. �f any E�ent of L�efault�c�urs as per the terms o�the Nate secured hereby, Lender may declare all lndebtedness secured by this Deed ❑f Trust�o be due and payable and �he same sha11 thereupan become due and payable withaut any presentment, demand, protest or nvtice❑�any kind. Ther�after, Lender may: �a} Ei�her in person ❑r by agent, with vr wi�hvut 1a�-inging any action vr prv�eeding, or by a receiver appoin�ed by a court and without regard�❑ the adequacy af its securi�y, enter upon and take possessian v�the Proper-�y, or any part thereof, in its awn name❑r in fihe name ❑f Trustee, and d❑ any acts which it deems necessary ar desirab�e to preser�e the value, marke�ak�ility ar ren�ability af the Praper�y, vr part af the Property vr infierest in �he Property; increase the En�ome from the Property ❑r protect the security ❑f the Praper�y; and, with ❑r wi�hvu� taking possession o� �he Property, sue for ❑r o�he�wise collect the rents, Essues and pro�its o-�the Proper#y, including �hose past due and unpaid, and apply the same, less costs and expenses of operation and �o!lection attorneys' fees,to any indel�tedness secured hy this I�eed of Trust, all in such order as Lende�- may determin�. The en�ke�ing upon and taking possession af �he Property, the cvllectivn vf such ren�s, issues and prvfiits, and �he application thereaf shall not cure or wai�e any defaul�or no�ice of defaul� under�his Deed of Trust❑r in�alidat� any ac� done in response ta such default or pursuan�to such natice of de�aul�; and, notwifihstanding�he continuanc� En passession vf