|
2� 17� 1455
<br /> �EEa oF -rRusT
<br /> Loan Nv: 'I�'I 3D��63 ��ontinued� Page �
<br /> Documents, and �2y the ��ens and security inter�sts created by this Deed of Trust as first and prior liens �n the
<br /> Property, whether now owned ar hereafter aGquired by Trustar. Unless prohibited by law ar Lender agrees to the
<br /> cvntrary in wri�ing, Trustvr shall reimburse Lender for all costs and expenses incurred in cannection with the
<br /> matters referred to in this paragraph.
<br /> Attorney-in-Fact. I# Trustor fails to da any of th� things referred to in the pre�eding paragraph, Lender may do so
<br /> fo� and in the name vf Trustor and at Trustor's expense. For such purpvses, Trustor hereby irre�ocably aAp�in�s
<br /> Lender as Trustor's a�torney-�n-fa�t f�r�he purpose vt making, executing, deii�ering, fiiing, r�cording, and dafng ali
<br /> vther things as may be necessary ❑r desirab�e, in Lender's soie opinion, to accomplish the matters referred ta in
<br /> the preceding paragraph.
<br /> FULL PERF�RMANCE. [f Trustor pays all the Indebtedness, in�luding withou� limitation a!I future ad�an�es, when due,
<br /> and othe�wise perfvrms all th� abligativns impas�d upan Trustor under this Deed of Trust, Lende� sha�� execute and
<br /> deli�er to Trustee a requ�st for full recan�eyance and shail execute and deli�er t� Trustor suitabls statements af
<br /> termination nf any financing statement on fi�e e�idencing Lender's se�urity interest in the Rents and the Persflnal
<br /> Prc�perty. Any rec�n�eyance fe� requ�red by law shall be paid by Trustor, if permitted by applicable law.
<br /> EVENTS �F DEFAULT. Each of the ��Ilawing, at Lender's aption, shall cvnstitute an E�ent vf Default under this Deed
<br /> af Trust:
<br /> Payment Default. Trustar fails tv make any payment when due under the Indebtedness.
<br /> �ther Defaults. Trustor fails t❑ �omply with or to perform any ather term, obligatian, c��enant �r condition
<br /> contained in this Deed af Trust or in any of the R�lated Dacuments or to cnmply with or to perform any term,
<br /> vbligation, �a��nant❑�candi#ion cantained in any vther agreement hetween Lender and Trustor.
<br /> Compliance Defiauit. Failure to comp�y with any ather term, ohligativn, co�enant or conditian �vn�ained in this
<br /> Deed of Trust, the Nvte vr in any af the Re�ated Documents.
<br /> De#ault on �ther Payments. Failure �f Trustvr withEn the �ime required by this Deed ❑f Trust t❑ mak� any payment
<br /> for taxes vr insurance, or any other payment necessary to pre�ent filing ❑f vr�❑ effect dis�harge of any lien.
<br /> False 5tatements, Any warranty, representation �r statement made or furnished to Lender by Trustor or an
<br /> Trust�r's behalf under this Deed of Trust vr the Related Documents is false vr misleading in any material �espect,
<br /> either now or at the time made or furnished or becvmes false or misleading at any time thereafter.
<br /> Defec#i�e CollateralEzation. This Deed ❑f Trust �r any of the Related Do�uments ceases to be in fufi force and
<br /> �ffect �including tailure of any �allateral document to create a �alid and perfected security interest or �ien� at any
<br /> time and fvr any r�ason.
<br /> Death or Insoi�en�y. The d�ath of Trustor, the ins���ency af Trustvr, the appaintment of a recei�er fflr any part of
<br /> Trus�or's prvperty, any assignment for �he benefi# ❑f creditvrs, any type ❑f creditar workout, or the
<br /> commencement af any proceeding un�er any bankrup�cy or inso��ency laws by or against Trustor.
<br /> Creditor ar Forfeiture Praceedings. �ammencement o� fflreclasure or for�eiture pr�ceedings, whether by judiciai
<br /> proceeding, se��-help, repassession or any flther methvd, I�y any creditor nf Trustor Qr by any g��ernmental agency
<br /> against any praperty securing the Indebt�dness. This includes a garnishmen# of any flf Trus#or's accounts,
<br /> �n�luding depasit accounts, with Lender. Howe�er, this E�ent of Default shal� nat apply if there is a govd fa�th
<br /> dispute by Trustor as ta the �alidity ar reasanableness vf the claim which is the basis vf the Greditor ❑r forfeiture
<br /> pro�eeding and if Trustar gi�es Lender wri�ten notic� of the creditar or farfeiture prace�ding and depasi#s with
<br /> Lender monies ❑r a surety bvnd for �he creditor �r ft�rfeiture pro�eeding, in an amoun�determined by Lender, in its
<br /> sole discretian, as being an adequate reser�e or band for the disput�.
<br /> Breach of�th�r Agreement. Any hreach by Trustor under the t�rms of any other agr�ement between Trustor and
<br /> Lender that is nat remedied within any grac� period pra�ided therein, including withvut limitativn any agr�ement
<br /> concerning any indebtedness or other abligation ❑f Trustor to Lende�, whether extsting now or later.
<br /> E�ents Affecting Guarantor. Any ❑f the preceding e�ents oc�urs with respect to any guarantar, endarser, sur�ty,
<br /> o� accvmmoda#ivn party ❑f any af the Indebtedness ar any guarantor, endorser, surety, ar accommadation party
<br /> dies �r becames incompetent, �r re�okes or disputes the �alidity of, ❑r IiabiRity under, any Guaranty of the
<br /> �ndebtedness.
<br /> Ad�erse Change. A material ad�erse �hange occurs in Trustar's �inancial condition, �r Lender helie��s the
<br /> prospect❑f payment or perfarman�e of th� Indebtedn�ss is impair�d.
<br /> Insecurity. L�nder in govd faith belie�es itself insecure.
<br /> Existing Indeb#edness. The payment ❑f any installment �f principa� or any interest on the Existing fndeb�edness is
<br /> not made within the time required hy the pramissary n�te e�idencing such indebtedne�s, or a default oc�urs under
<br /> the instrument securing such indebtedness and is not �ured during any applica�le grac� period in su�h instrument,
<br /> vr any suit vr other ac�ion is cammenGed t� foreclose any existing lien an the Praperty.
<br /> �igh#to�ure. If any defau�t, other than a de�ault in payment, is curabie and if Trustor has not been gi�en a notice
<br /> af a breach af#he same pro�isian af this ❑eed ❑#Trust within th� preceding twel�e �i 2� manths f it may �e cured if
<br /> Trustor, after Lender sends written n�tice to Trustar demanding cure of such defauli: �1 y cures the default within
<br />
|