201700863 - Laserfiche WebLink

Browse

2� 17��8�3 �FEv �F TRusT Lvan Nv: ��'i 3�2�47 {Continued} Page 6 EVENTS DF DEFAULT. Each af�he following, a� Lender's op�ian, shall canstitute an E�en� of aefau�t under this ❑eed af Trus�: Paymenfi Default. Trustor fails�❑ make any paymen�v+�hen due under the Indebtedness. Dther ❑e�aults. Trustor fiails ta comply with or t� perform any ❑ther �erm, alaFiga�ion, co�enan�t or cflndi�kion cantained in this Deed of Trust ar in any of the Related Documents or �o camply with or to perf�rm any �erm, ❑bI}ga�ion, ca�enant❑r condition con�tain�d in any a�her agreement between Lender and Trustor. Compliance ❑e�auCt. Failur� fio comp�y wi�h any ❑�her fierm, ob�igati�n, cvWenant ar conditian con�ained in this Deed of Trust,the Note vr�n any a�the Rela�ed Documents. De#au[t on �fiher Paymen�s, Failure of Trustor within the fiime required by this ❑eed af Trust�❑ make any payment far�axes ❑r insurance, vr any other paymenfi necessary to preWen�filing ❑f❑r�o e�fec�discharge a�any li�n. False Statements. Any warranty, representa�ivn or sta�emen� made ❑r furnished to Lende� hy Trustor or on Trustor's behalf under�his �eed af Trust ❑r the Re�a�ed Documen�s is �alse or misleading in any mafierial respec�, either now or a�the�ime made ar furnished ❑r b�comes false❑�misleading a�any t�me thereafter. Defec�i�e Cvllatera�i�at'ron. This Deed ❑f Trus� or any ❑f �he Re[ated Documents �eases �❑ be in ful! force and e��ect �inGluding �ailure ❑� any colla�kera� documen�t ta create a �aiid and perfec�ed security infierest or lien} at any �ime and for any reasan. Insvivency. The dissolutian ❑�-terminativn ❑�F Trustar`s exis�ence as a going business, �he insvl��ncy af Trus�or, �he appoin�ment of a receiWer fior any part af Trus�or's prvperty, any assignment �vr�he bene�i� af credi�ors, any �ype of credi�or work�u�, or the comm�ncement of any proceeding under any bankruptcy or insal�en�y laws by vr against Trus�ar. Creditor vr For�eiture Proceedings. Commencement ❑�f foreclosure or forfeiture proceedings, whether by judicial proc��ding, seff-help, repvssession❑r any❑ther method, by any cred�tor of Trus�or vr by any go�ernmental agency agains� any property securing �khe Indebtedness. This includes a garnishment of any of Trus�or's accounts, including d�pos�t accaunts, w�th Lender. Hawe�er, this E�enfi of Defaul� shall n�t apply if�here is a good �faith dispute by Trustor as �a the �aiidity or reasonableness ❑�f the claim which is the basis vf the creditor or forfei�ure prviceeding and if Trust�r gi�es Lender written notice of th� credi�ar ❑r �forfeiture praceeding and deposits wEfih Lender manies ar a surety bond �Fvr fihe credi�or or fvrfiei�ure pra�eeding, in an amount de�ermined �y Lender, in its sole discre�ion, as being an adequa�� reser�e❑r bond for�he dispute. 6reach o�Dther Agreement. Any breach by Trus�or under the terms ❑f any o�her agreemenfi �etween Trusfior and Lender tha� is n�t remedied wi�hin any grace period pro�ided therein, in�luding w�thvut limitation any agreemen� cancerning any ind�b�edness o�❑ther obligation of Trusfior ta Lender, Uvhether existing now❑r later. Even#s Aff�c�ing Guaranfior. Any af the preceding e�ents oc�urs with �-especfi to any guarantor, endorssr, sure�y, or accommodafiian par�y ofi any ❑f�he lndehtedness vr any guarantor, snd�rser, sure�y, or a�cammoda�ian party dies or be�ames incampe�ent, or re�okes ❑r disputes fihe �alidi�y ❑f, vr Eiabilifiy under, any Guaranty �� he Indebtedness. Adverse Ghange. A material ad�erse change occurs in Trustvr's financial condi�ion, or Lender b�lieWes ths prospe��of payment�r performance of the lndebtedness is impaired. Inse�uri�y. Lender in ga�d faith belie�es itself insecure. Righ��v Cure. I�any default, ofiher�han a de�Faulfi in payment, is curabfe and if Trus�or has not been gi�en a notice vf a breach❑�F the same pro�ision o�this Deed ❑f Trus�within�he preceding twel�e {1�} manths, it may be cured if Trustar, after Lender sends written no�ice t�T�us�or demanding cure ❑f such defauf�: �1 y cures th� defauit within fi�f-teen ��5� days; or �2� i�the cu�-e requires more than fitteen {'i 5} days, immediately initia�es steps which Lender deems in Lender's sole discretion t❑ be sufficient to cure the default and fihereafter con�inues and completes all reasanable and ne�essary steps sufficient to produce camplianc�as sovn as reasonab�y practical. RIGHTS AN❑ REMEDIES �N DEFAULT. I#an E�ent of De#aulfi❑ccurs under this Deed ❑f Trust, at any time�hereaft�r, Trusfiee❑r L�nder may exercise any❑ne❑r mo�-e af�he�ollowing righ�s and remedies: AcceleratEon Upon De#auit; Addi#ional F�emedies. lf any E�ent af Defaul�occurs as per#he �erms ❑f the No�e secured herelay, Lender may dec�are ali Indebfiedness secured hy this ❑eed of Trust�❑ be due and paya�le and �he same shall�hereupon became due and payah�e wi�haut any presen�ment, demand, protest or no�ice af any kind. Thereafter, Lender may: �a} Either in person ar by agent, wi�h or withaut b�inging any ac�ion or proceeding, or �y a recei�er appointed by a court and wi�hou�regard �o the adequacy o-�its secu�Ety, en�er up�n and take passession of�he Property, or any par�ther�of, in its awn name ❑r in�he name �f Trustee, and do any acts whEch Et deems ne�essary��desirable to preser�e�he �alue, marke�ability or rentalai�ifiy of�he Proper�y, or part of �he P�-operty ❑�-in�erest in the Praper�y; incr�ase the income trvm �he Property ❑r protec�the security of the Proper�y; and, with ❑r withnut taking possessivn ❑f �he Property, sue far or atherwise c�llect �he r�nts, issues and prvfits ❑f the Pr�per�y, including those pas� due and unpaid, and apply the same, less cos�s and�xpenses ❑�f opera�ion and c�llec��on a�torneys' fees,to any indeb�edness secured by this Deed of Trust, all in such order as Lender may determine. The entering upon and tal�ing pvssession vf �he