|
201704555
<br />DEED OF TRUST
<br />Loan No: 10022430 (Continued) Page 4
<br />extent permitted by applicable law.
<br />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information
<br />concerning the security interest granted by this Deed ot Trust may be obtained (each as required by the Uniform
<br />Commercial Code) are as stated on the first page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and
<br />attorney-in-fact are a part of this Deed of Trust:
<br />Further Assurances. At any time, and from time to tirne, upon request of Lender, Trustor will make, execute and
<br />deliver, or wili rause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by
<br />Lender, cause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and 'In SUGh Offices
<br />and pJaGes as Lender may deem appropriate, any ana all such mortgages, deeds of trust, sec;urity deeds, security
<br />agreements, financing statements, continuation statements, instruments of turther assurance, certificates, and
<br />other documents as may, in the sole opinion of Lender, be necessary or desirable 'In order to effectua�e, complete,
<br />perfect, continue, or preserve (1) Trustorls obligations under the Note, this Deed of Trust, and the Related
<br />Documents, and (2) the lions and 8ecurity interests created by this Deed of Trust on the Property, whether now
<br />owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in wrifing,
<br />Trustor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this
<br />paragraph-
<br />Atto r ney-in -Fact. [f Trustor falls to do any of the, things referred to in the preceding paragraph, Lender may do so
<br />for and in the name of Trustor and at Trustor"s expense. For such purposes, Trustor hereby irrevocably appoints
<br />Lender as Trustor's attorney-in-fact for the purpose of making, executing, delivering, filing, racording, and doing all
<br />other things as may be necessary or desirable, in Lender's sole opinion, to accomplish the matters referred to in
<br />the preceding paragraph.
<br />FULL PERFORMANCE. It Trustar pays all the Indebtedness when due, and otherwise performs all the obligations
<br />imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full
<br />reconveyance and shall execule and deliver to Trustor suitable statements of termination of any finaricing statement on
<br />file evidencing Lender's security interest 'In the Rents and -the Per!5onal Property. Any reconveyance fee required by law
<br />shall be paid by Trustor, if permitted by applicable law.
<br />EVENTS OF DEFAULT. At Lender's option, Trustor will be in default under this Deed of Trust if any of the following
<br />happen:
<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
<br />Break Other Promises. Trustor breaks.any promise made to Lender or fails to perform promptly at the time an.d
<br />strictly in the manner provided in this Deed of Trust or in any agreement related to this Deed of Trust.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or -condition contained in this
<br />Deed of Trust, the Note or in any of the Related DDCUments.
<br />Default on Other Payments. Failure of Truslor within the time required by this Deed of Tru:st to make any payment
<br />for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of anV lien.
<br />,Default in Favor of Third Plardes. Should Grantor default under any loan, extension of credit, security agreement,
<br />purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially
<br />affect any of Grantor's property or Grantor"s ability to repay the Indebtedness or Grantor"s ability to perform
<br />Grantor's obligations under this Dead of Trust or any of the Related Documents.
<br />False Statements. Any representation or statement made or furnished to Lender by Trustor or on Trustor"s behalf
<br />under this Deed of Trust or the Related Documents is false or misleading in any materia[ respect, either now or at
<br />the tirne made or furnished.
<br />Defec�dve Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and
<br />effect (including failure of any collateral document to create a valid and perfected secunty interest or lien) at any
<br />time and for any reason.
<br />Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment of a receiver for any part of
<br />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 />Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of
<br />Trustor's property in which Lender has a lien. This includes taking of, garnishing of or levying on Trustor's
<br />accounts with Lender. However, if Trustor disputes in good faith whather the cleim on which the taking of the
<br />Property is based is valid or reasonable, and if Trustor gives Lender written notice of the claim and furnishes
<br />Lender with monies or a sorety bond satisfactory to Lender to satisfy the claim, ihen this default provision will not
<br />apply.
<br />Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and
<br />Lender that is not remedied within any grace period provided therein, including without limitation any agreement
<br />concerning any indebtedness or other obligation of TruStDr to Lender, whether existing now or later.
<br />Events AffeGting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surely,
<br />or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or aGCOMModation party
<br />dies or beGomes incompetent.. or revokes or disputes The validity of, or liability under-, any Guaranty of the
<br />Indebtedness.
<br />Insecurity. Londer in good faith believes itself insecure.
<br />Right to Cure. If any default, other than a default in payment, is curable and if Trustor has not been given a notice
<br />of a breach of the same provision of this Deed of Trust within the preceding twelve (12) month;$, it may be cured if
<br />Truslor, after Lender sends written notice to Trustor demanding cure of such default- (1) cures the default within
<br />twenty (20) days; or (2) if the cure requires more than twenty (20) days, immediately initiatee ateps which
<br />Lender deems in Lender's sole discretion to be sufficient to cure The default and thereafter continues and
<br />completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter,
<br />Trustee or Lender may exercise any one or more of the following rights and remedies:
<br />Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Note
<br />secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to bo due and payable and
<br />the same shall thereupon become due and payable without any presentment, demand, protest or notice of any
<br />kind. Thareafter., Lender may:
<br />(a) Either in person or by agent, with or without bringing any action or proceed�ng, or by a receiver
<br />appointed by a court and without regard to the -adequacy of its security, enter upon and take possession
<br />of the Property, or -any part thereof, in its own name or in the name of Trustee, and do any acts which it
<br />deems necessary or desirable to preserve the value, marketability or rentability of the Property, or part of
<br />the Property or interest in the Property; increase the income from the Property or protect the security of
<br />
|