|
2� 17��272
<br /> [��ED �F TRUaT
<br /> Loan Nv: 'I�13�117� ���nt�nued} Page �
<br /> the pr�c�ding paragraph.
<br /> FULL PERF�RMANCE. If Trustnr pays all the indebtedn�ss, including without �imitation a�� future ad�an�es, when �tue,
<br /> and otherw+se perfarms all the ❑bligat3ons impased upQn Trustor under this ❑eed ❑� Trus�, Lender shall execute and
<br /> deli�er t❑ Tru�te� a request f�r tull re�on�eyance and shall execute and deli�er to Trustor sui�ab�e stat�ments �f
<br /> termination Qf any �inancing statement vn file e�iden�ing Lender's s�cur��ty interest in the R�nts and th� �'ersonal
<br /> Property. Any recan�eyan�� fee required by ia�rv shall �e paid by Trustrar, i�permitted hy applica�le law.
<br /> EVENT� �F QEFAULT. Each a� the fall�wing, �t Lender's aption, shall constitute an E�ent of �efault under th�s ❑eed
<br /> af Trust;
<br /> Paymen#C�efault. Trustor fails t❑ make any paym�nt when due under the Indebtedness.
<br /> �ther ❑�fauits. Trustor fail� �o cvmply with ar to perform any axher term, abligatian, cr��enant ar conditiQn
<br /> ct�ntained ir� this Deed of Trust or in any af �he Related ❑acuments or to com�ly with ❑r t❑ perfarm any term,
<br /> �bligativn, co�enant vr cvnditian contained in any other agreement betw�en Lender and Trustor.
<br /> ��mpliance Default. Failure to comply with any ❑ther term, o��igation, cv�enant t�r c�nditian contained in this
<br /> Deed of Trust, the Nvte ar in any of the Related Documents.
<br /> Default on Dther Payments. F�il�re ot Trustar within th�time requir�d by this ❑eed v�Trust to make any payment
<br /> for taxes or insurance, vr any�th�r payment necessary t❑ pre�ent filing af❑r ta ef�ec�discharg� of any lien.
<br /> False Statements. Any �rvarranty, representati�n or statement mad� or turnished to Lender b�r Trustor or on
<br /> Trustor's bshal� unde� thi� ❑eed of Trust ar the Related ❑ocuments is �a�se or misleading in any material r�spe�t,
<br /> either naw or at the tim� mad�or furnish�d❑r �ecames false ❑r misleading at any time thereafter.
<br /> Defecti�� Calla�eralizativn. This Deed �f Trust or any of the Related Document� cea�es to b� in tull force and
<br /> effect �in�luding failure of any collateral docum�nt to �reate a �alid and perfected security interest tar lieny at any
<br /> time and far ar�y reasan,
<br /> Death ar Insol�ency. The death of Trustor, the insol�ency of Trustor, the appointment flf a rsGeivef �ar any par� ❑f
<br /> Trustar's property, any assignment f�r the benefit af �reditors, any type of creditor vvorkvut, or th�
<br /> commenGement of any �ro�eeding under any bankruptcy or insal�en�y laws by❑r against Trustar.
<br /> Creditvr or Fvrfeiture Proce�dings. Camm�ncement ❑f tore�losure Qr forfeiture �rc�Geedings, whether �y judic�al
<br /> praceeding, self-he�p, repass�ssion �� any �ther meth�d, by any cred�tor o�Trustar or by any go�ernmentai agency
<br /> against any property securing the Indebtedness. This incfudes a garnishment af any ❑�# Trustor's a�caunts,
<br /> including depasit accvunts, with L�nder. Howe�er, this E�ent ❑f D�fault shali nat app�y if there is a good �aith
<br /> dispute by Trustvr as to the �alidity vr reasonahleness of the claim which is �he hasis of the �reditc�r or farf�iture
<br /> praGeeding �nd if Trustar give� L�nder written n�tic� at the creditor flr fQrfeiture proc�eding and depa�its with
<br /> Lender morties ❑r a surety band far th� creditar or forfeitur� prvc�edfng, in an amount determined by L�nder, in its
<br /> sale discretion, as being an adequate reser�e ar bond for the dispu�e.
<br /> Breach of gther Agreemen#. Any �reaGh by Trustor under the terms vf any other agreement hetween Trustor and
<br /> Lender that is not remedied within any grace period pra�ided therein, +ncluding without limitativn any agreement
<br /> canc�rning any indebtedness or other obligation of Trustar to Lender, whether existing naw or later.
<br /> E�ents Af�ec�ing Guarantar. Any �f the �receding e�ents �ccurs with respect t❑ any guarantor, endors�r, surety,
<br /> ❑r accammndatian party of any af the lnde�tedness or any guarantor, endorser, su�ety, ar accQmmadatian party
<br /> �ies �r becomes incompetent, ar re�ak�s or disputes the �alidity of, or liability under, any �u�ranty of the
<br /> ]nde�tedness.
<br /> Ad�erse Change. A materia� ad�erse change vccurs in Trustor'� financial �onditiQn, vr Lender belie�es the
<br /> prospect of paymen#ar p�rtorm�nce ❑f the Indebtedness is impai�ed.
<br /> Insecuri#y, Lender in go�d fai�h befie�es itself in�ecure,
<br /> Existing Indebtedness. Th� payment ❑f any installment af princ�pal or any interest vn the Existing i�de�tedness is
<br /> nvt made within the time required by the �rvmissory note e�idencing suGh indebtedness, or a default oG�urs under
<br /> the instrument securin� such indebtedn�ss and is not cur�d during any applicaa�e gra�e periad in such instrument,
<br /> ��any suit or��h�r actian is c�mmen�ed to foreclase any existing lien Qn the Property.
<br /> Righ#tv Cure. !f any default, oCher than a def�ult in payment, is curable and if Trustor has not b�en given a natice
<br /> of a breach af the same provisian ot this D�ed ❑f Trust within �he preceding twel�e ��2� months, it rr�ay be cured if
<br /> Trust�r, after Lender sends written noti�e ta Trustvr demanding cure of su�h de#ault: �1 y cures the default within
<br /> fifteen �15� days; ❑r ��� if the cure requires more than fifteen ��5} days, immediately initiates �te�as which Lender
<br /> deems in Lender's sa�� dis�r�tian ta �e suffici�nt tv cure the default and thereafter cantinues and complet�s al�
<br /> reastanable and necessary steps �u�ficient tc� praduce complian�e a� �von as reasonably practiG�l.
<br /> RIGHTS AND REIVIEDIES €7N DEFAULT. If an Euent ❑f ❑efaul� a��urS under this Deed af Trust, at any time th�reaft�r,
<br /> T�ustee vr Lender may�xercise any one or more of the following rights and remedies;
<br /> Ac�elera#�vn Upon Default; Additional R�medies. If any E�ent ❑f Default vccurs as per the terms af the Nate
<br /> s�cured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to b� due and payable and
<br /> the same sh�ll thereu�vn become due and payable ►lvithaut any presentment, demand, prot�st or n�tiG� of any
<br />
|