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200005275
<br />Payment Default. Trustor fails to make any payment when due under the
<br />indebtedness.
<br />Other Defaults. Trustor fails to comply with or to perform any other term, obligation,
<br />covenant, or condition contained in this Deed of Trust or in any of the Related
<br />Documents or to comply with or to perform any term, obligation, covenant, or
<br />condition contained in any other agreement between Lender and Trustor.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant, or
<br />condition contained in this Deed of Trust, the Note or in any of the Related Documents.
<br />If such a failure is curable and if Trustor has not been given a notice of a breach of the
<br />same provision of this Deed of Trust within the preceding twelve (12) months, it may
<br />be cured (and no Event of Default will have occurred) if Trustor, after Lender sends
<br />written notice demanding cure of such failure: (a) cures the failure within fifteen (15)
<br />days; or (b) if the cure requires more than fifteen (15) days, immediately initiates steps
<br />sufficient to cure the failure and thereafter continues and completes all reasonable and
<br />necessary steps sufficient to produce compliance as soon as reasonably practical.
<br />Default on Other Payments. Failure of Trustor within the time required by this Deed
<br />of Trust to make any payment for taxes or insurance, or any other payment necessary
<br />to prevent filing of or to effect discharge of any lien.
<br />Default in Favor of Third Parties. Should Trustor default under any loan, extension of
<br />credit, security agreement, purchase or sales agreement, or any other agreement, in
<br />favor of any other creditor or person that may materially affect any of Trustor's
<br />property or Trustor's ability to repay the indebtedness or perform their respective
<br />obligation under this Deed of Trust or any of the Related Documents.
<br />False Statements. Any warranty, representation or statement made or furnished to
<br />Lender by Trustor or on Trustor's behalf under the Deed of Trust, the Note or the
<br />Related Documents is false or misleading in any material respect, either now or at the
<br />time made or furnished or becomes false or misleading at any time thereafter.
<br />Defective Collateralization. This Deed of Trust or any of the Related Documents ceases
<br />to be in full force and effect (including failure of any collateral document to create a
<br />valid and perfected security interest or lien) at any time and for any reason.
<br />Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment
<br />of a receiver for any part of Trustor's property, any assignment for the benefit of
<br />creditors, any type of creditor workout, or the commencement of any proceeding under
<br />any bankruptcy or insolvency laws by or against Trustor.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture
<br />proceedings, whether by judicial proceeding, self -help, repossession or any other
<br />method, by any creditor of Trustor or by any governmental agency against any property
<br />securing the indebtedness. This includes a garnishment of any of the Trustor's
<br />accounts, including deposit accounts, with Lender. However, this Event of Default
<br />shall not apply if there is a good faith dispute by Trustor as to the validity or
<br />reasonableness of the claim which is the basis of the creditor or forfeiture proceeding,
<br />and if Trustor gives Lender written notice of the creditor or forfeiture proceeding and
<br />deposits with Lender monies or a security bond for the creditor or forfeiture proceeding,
<br />in an amount determined by Lender, in its sole discretion, as being an adequate reserve
<br />or bond for the dispute.
<br />Breach of Other Agreement. Any breach by Trustor under the terms of any other
<br />agreement between Trustor and the Lender that is not remedied within any grace
<br />period provided therein, including without limitation any agreement concerning any
<br />indebtedness or other obligation of Trustor to Lender, whether existing nor or later.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any
<br />guarantor, endorser, surety, or accommodation party of any of the indebtedness or any
<br />guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or
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