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09-22 -2000 DEED OF TRUST 200007878 Page 4 Loan No 1212505 (Continued) SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Dead of Trust as a security agreement are a part of this Dead of Trust. Security Agreement. This instrument shall constitute a security agreement to the extent any of the Property constitutes fixtures or other personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to HMO. Security Interest. Upon request by Lender, Trustor shall execute financing statements and take whatever other action is requested by Lender to perfect and continue Lender's security Interest M the Rents and Personal Property. In addition to recording this Deed of Trust In the real property records, Lender may, at any time and without further authorization from Trustor, file executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses Incurred in perfecting or continuing this security Interest. Upon default, Trustor shall assemble the Personal Property In a manner and at a place reasonably convenient to Trustor and Lender and make it available to Lender within three (3) days after receipt of written demand from Lender. Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party), from which Information concerning the security Interest granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code), are as stated on the fill page of this Deed Of Trust. FURTHER ASSURANCES; ATTORNEY4N -FACT. The following provisions relating to further assurances and attorney -in -fact are a part of this Deed of Trust. Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, execute and deliver, or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be tiled, recorded, rallied, or rerecorded, as the case may be, at such tirnes and in such offices and places as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, Instruments of further assurance, certificates, and other documents as may, In the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or preserve (a) the obligations of Trustor under the Note, this Dead of Trust, and the Related Documents, and (b) the Hens and security interests created by this Deed of Trust as first and prior liens on the Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by kw or agreed to the contrary by Lender In writing, Trustor shall reimburse Lender for all costs and expenses Incurred In connection with the mailers referred to In this paragraph. Attorney- in-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 Truster and at Trustor's expense. For such purposes, Truster hereby Irrevocably appoints Lender as Trustor's attorney- 4n4act for the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, In Lender's sole opinion, to accomplish the matters referred to in the preceding paragraph. FULL PERFORMANCE. If Trustor pays all the Indebtedness when due, and otherwise performs all the obligations Imposed upon Trustor under this Dead of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, If permitted by applicable law. DEFAULT. Each of the following, at the option of Lender, shall constitute an event of default ("Event of Default") under this Deed of Trust: Deft* on Indebtedness. Failure of Trustor to make any payment when due on the Indebtedness. 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 any other payment necessary to prevent filing of or to effect discharge of any lien. Default In Favor of Third Parties. Should Borrower or any Trustor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, In favor of any other creditor or person that may materially affect any of Borrower's property or 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 Documents. Cow4*wsce DO". Failure of Trustor to comply with any other term, obligation, covenant or condition contained In this Deed of Trust, the Note or in any of the Related Documents. False Statements. Any warranty, representation or statement made or furnished to Lender by or on behalf of Trustor under this Deed of Trust, the Note or the Related Documents Is false or misleading in any materiel respect, either now or at the time made or furnished. Defactive Coliaterallzalion. This Deed of Trust or any of the Related Documents ceases to be In full force and effect (including failure of any collateral documents to create a valid and perfected security interest or ken) at any time and for any reason. Death or Insolvency. The death of Trustor or the dissolution or termination of Trustor's existence as a going business, the Insolvency of Trustor, the appointment of a receiver for any part of Trustor's property, any assignment for the benefit of cxedNors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or irsolvency laws by or against Trustor. Foreclosure, Fortalture, sic. Commencement of foreclosure or forfeiture proceedings, whether by lug pry, sell -help, repossession or any other method, by any creditor of Trustor or by any governmental agency against any of its Property. However, this subsection shall not apply in the event of a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the bask of the foreclosure or forfelture proceeding, provided that Trustor gives Lender written notice of such claim and hxnishes reserves or a surety bond for the claim satisfactory to Lender. Breach of Other Agreement. Any breech by Trustor under the terns of any other agreement between Trustor and Lender that Is not remedied within any grace perked provided therein, including without kmlfation any agreement concerning any Indebtedness or other obligation of Trustor to Lender, whether existing now or later. Events Affecting Guarantor. Any of the preceding evens occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor dies or becomes Incompetent, or revokes or disputes the validly of, or liability under, any Guaranty of the Indebtedness. Lender, at its option, may, but shall not be required to, permit the Guarantor's estate to assume unconditionally the obligations arising under the guaranty In a manner satisfactory to Lender, and, In doing so, cure the Event of Default. Adverse Change. A material adverse charge occurs in Trustor's financial condition, or Lender believes the prospect of payment or performance of the Indebtedness Is Impaired. Insecurity. Lender In good faith deans itself Insecure. RI9M Io Cure. N such a failure Is curable and N Trustor has not been given a notice of a breach of the same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured (and no Event of Default will have occurred) N Trustor, after Lender sends written notice demanding cure of such failure: (a) cures the failure within fifteen (15) days; or (b) N the cure requires more than fifteen (15) days, Immediately initiates steps sufficient to cure the failure and thereafter continues and completes aN reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter, Trustee or Lender, at its option, may exercise any one or more of the following rights and remedies, in addition to any other rights or remedies provided by law: Acceleration upon Default; Additional Remedies. If any event of default occurs as per the terms of the Note secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may: (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 regard to the adequacy of its security, enter upon and take possession of the Property, or any part thereof, In He own name or In the nano of Trustee, and do any acts which N deems necessary or desirable to preserve the value, marketability or rentability of the Property, or part of the Property or Interest in the Property; Increase the income from the Propery or protect the security of the Property; and, with or without taking possession of the Property, sue for or ottorwke collect the rents, Issues and profits of the Property, Including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, inckx ft aftorneys' fees, to any indebtedness seared by this Deed of Trust, all in such order as Lender may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and proft, and the application thereof Mal not cure or waive any default or notice of default under this Deed of Trust or Invakdats any ad done in response to such default or pursuant to such notice of default; and, notwllMfamdrg tin cortisone In possession of the Property or the collection, receipt and application of rents. Issues or profits, Trustee or Lender shall be entitled to exercise every right provided for In the Note or the Related Documents or by law upon the occurrence of any event of defauxlt, irrdudkg No right to exercise its power of sale;