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06-09 -2000 ~M1 4 DEED OF TRUST Page 4
<br />Loan No 25605 (Continued)
<br />Liens section and deposits with Lender cash or a sufficlent corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT, FINANCING STATEMENTS. The. following provisions relating to this Deed of Trust as a security agreement are a part of
<br />this Deed of Trust.
<br />Security, Agroarrmt. , This ;Instrument shad constitute a security,, agreement to the extent any of the Property constitutes fixtures or other
<br />personal property, AnO',L,ender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to
<br />fime.
<br />Security Interest. Upon request by Lender, Trustor shall execute financing statements and take whatever other action Is requested by Lender
<br />to perfect and continue Lender's security interest In the Rents and Personal Property. In addition to recording this Deed of Trust in the real
<br />property records, Lender may, at any time and without further authorization from Trustor, file executed counterparts, copies or reproductions of
<br />this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses Incurred In perfecting or continuing this security
<br />Interest. Upon default, Trustor shall assemble the Personal Property in a manner and at a place reasonably convenient to Trustor and Lender
<br />and make it available to Lender within three (3) days after receipt of written demand from Lender.
<br />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party), from which information concerning the security interest
<br />granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code), are as stated on the first page of this Deed
<br />of Trust.
<br />FURTHER ASSURANCES; ATTORNEY4N -FACT. The following provisions relating to further assurances and attorney —in —fact are a part of this
<br />Deed of Trust. ,
<br />Further Aseuiatees: At any fitrre, afid from fim@ td 'time, (,pon requesiof Len ar, to be
<br />made, executed or delivered, to Lender or to Lender's designee, and when, requested by Lender, cause to'be filed, recorded, refiled, or
<br />rerecorded, as the case may be, at such times and in such offloss and places as Lender may deem appropriate, any and all such mortgages,
<br />deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance, certificates,
<br />and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effactuate, complete, perfect, continue, or
<br />preserve (a) the obligations of Trustor under the Note, this Deed of Trust, and the Related Documents, and (b) the liens and security interests
<br />created by this Deed of Trust as first and prior Nays on the Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by
<br />law or agreed to the contrary by Lender in writing, Trustor shall reimburse Lender for all costs and expenses Incurred in connection with the
<br />matters referred to In this paragraph.
<br />Attomey4n -Fact. If Trustor fails to do any of the things referred to In the preceding paragraph, Lender may do so for and in the name of
<br />Trustor and at Trustor's expense. For such purposes, Trustor hereby Irrevocably appoints Lender as Trustor's attorney —in -fact for the purpose
<br />of making, executing, delivering, filing, reodrding, and doing all other things as may be necessary or desirable, in Lender's sole opinion, to
<br />accomplish the matters referred to in,theovoeding paragraph;
<br />I U PNRFORMANCE.'.If.Trustor pays aA=theAndebtedn ss when due, terminates the line of:credit, and otherwise performs all the obligations
<br />imposed upon Trustor under this Deed of Truss, Lender :sl execute and deilver:to Trustee a request for full reconveyanoe and shall execute and
<br />deliver to Trustor suitable statements -of Ietmination, of any Ong statement on file evidencing Lender's security interest in the Rents and the
<br />Personal. Property. Any reconveyance few required by law shatf't* paid byTnsstor, if permitted by applicable law.
<br />DEFAULT. Each of the following, at the option of Lender, shall constitute an event of default ("Event of Default") under this Deed of Trust:
<br />Default on Indebtedness. Failure of Trusty to make any payment when due on the Indebtedness.
<br />Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or insurance, or
<br />any other payment necessary to prevent filing of or to effect discharge of any Nan.
<br />DOWN In Favor of Third Parties. Should Borrower or any Trustor default under any loan, extension of credit, security agreement, purchase or
<br />sales agreement, or any other agreement, in favor, of any other creditor or person that may materially affect any of Borrower's property or
<br />Borrower's or any Trustor's ability to repay the Loans or perform their respective obligations under this Deed of Trust or any of the Related
<br />Documents.
<br />Compliance Default. Failure of Trustor to comply with any other term, obligation, covenant or condition contained In this Deed of Trust, the
<br />Note or in any of:the Flated Documents
<br />IFS `. Arty
<br />waffaft qmt. sw*ow# WAde or ferrilshed to Under by or on behalf of lrrustorlonder this'Deed of Trust,
<br />the Note or the Related Documents is Sdp or.mkilibi htp in any material rasped, either now or at the Urns made or hxnished.
<br />Defective CoUat"Izetlon. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (including failure of any
<br />collateral documents to create a valid and perfected security interest or lien) at any time and for any reason.
<br />Death or Insolvency. The dissolution (regardless of whether election to continue is made), any member withdraws from the limited liability
<br />company, or any other termination of Trustor's existence as a going business or the death of any member, the insolvency of Trustor, the
<br />appointrtwnt of a receiver for any part of Trustor's property, any, assignment for the benefit of creditors, any type of creditor workout, or the
<br />commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor.
<br />Foreclosure, Forfeiture, etc. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession
<br />or any other, method, by any creditor of, Trustor or by any governmental agency against any of the Property. However, this subsection shall not
<br />a�py in the event of a good faith dispute by Trustor as to the validity or reasonableness of the claim which Is the basis of the foreclosure or
<br />f efeiture proceeding,'provlded that Trustor gives Lender written notice of such claim and furnishes reserves or a surety bond for the claim
<br />satisfactory to Lender.
<br />Bah Of `Qtiteer;ilreanenf. Any. breach by Trur;tsx under ttie of any other,' greement between Trustor and Lender that Is not remedied
<br />within any graceod provided tharein,'tncluding without brhitatiat any agreement concerning any indebtedness or other obligation of truster
<br />to Lender, w ekisfing noW or later.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br />dies or becomes Incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. Lender, at Its - option,
<br />may, but shall not be required to, permit the Guarantors estate to assume unconditionally the obligations arising under the guaranty In a
<br />manner satisfactory to Lender, and, -in doing so; cure the Event of Default.
<br />Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or
<br />performance of the Indebtedness Is impaired.
<br />Insecurity. Lender in good iaith deem Itself Insecure.
<br />Right to Cure. If such a failure Is curable and. If Trustor has not been given a_notice of a breach of the same provision of this Deed of Trust
<br />within the Dr 94 by (j2Ln*aU*,It may -b9 cure vwn� ref ry�fm, �M yy� I�y�_ ems[ �irmd) LT�}�p��a a once e9Qd5- wriitejn _
<br />notice demanding cure of such failure: (a) cures the UNWW within twenty (20) days; or (b) If the cure requires more than twenty (90) days,•
<br />Immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient to
<br />produce compliance as soon as reasonably practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter, Trustee or Lender, at its option,
<br />may exercise any one or more of the following rights and remedies, In addition to any other rights or remedies provided by law:
<br />Acceleration upon Default; Additional Remedies. If any event of default occurs as per the terms of the Note secured hereby, Lender may
<br />declare all Indebtedness secured by this Deed of Trust to, be due and payable and the same shall thereupon become due and payable without
<br />any presentment, demand, protest or notioa of any kind. Thereafter, Lender may:
<br />(a) Either In person or by agent, with or without bringing any action, or proceeding, or by a receiver appointed by a court and without
<br />regard to the adegyacy of its, security,: enter. upon. and take possession of the Property, or any part thereof, in its own name or In the name
<br />of Trustee, and do any acts which it deems, nacessary or, desirable to preserve the value, marketablitty or rentability of the Property, or part
<br />of the Property or Interest In the Property; increase the Income from the Property or protect the security of the Property; and, with or without
<br />taking possession of the Property, sue for or otherwise collect the rents, issues and profits of the Property, including those past due and
<br />unpaid, and apply the same, less costs and expenses of operation and collection, to any indebtedness secured by this Deed of Trust, all In
<br />such order as Lender may determine. The entering upon and taking possession of the Property, the pollection of such rents, Issues and
<br />profits, and the application thereof shall not cure or walve any default or notice of defauft under this Deed of Trust or invalidate any act
<br />done in response to such default or pursuant to such, notice of default; a hstending the continuance In possession of the Property
<br />or the collection, receipt and application of-ronlij, issues or profite•,> shall be entitled to exercise every right provided for In
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