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DEED OF TRUST 0400007880
<br />(Continued) Page a
<br />deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of farther assurance,
<br />certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable In order to effectuate, complete, perfect,
<br />continue, a preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2) the .Wens and
<br />security interests created by this Deed of Trust as first and prior Wens on the Property, whether now owned or hereafter acquired by Trustor.
<br />Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender for all costs and expenses Incurred in
<br />connection with the matters referred to in this paragraph.
<br />MMrney4n -Fact. If Trustor faits 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 Trustoes expense. For such purposes, Trustor hereby irrevocably appoints Lender as Trustor's aftomey -im fact for the
<br />purpose of making, executing, delivering, filing, recording, and doing all otter things as may be necessary or desirable, In Lender's sole
<br />opinion, to accomplish the. matters referred to in the preceding paragraph.
<br />Flit. PERFORMANCE. If Trustor pays all the Indebtedness, including without limitation all future advances, when due, and otherwise performs
<br />all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyanoe and
<br />shall execute and deliver to Trustor suitable statements of termination of any financing statement on Me evidencing Lender's security Interest in the
<br />Rents and the Personal Property. Any reconveyanos fee required by law shall be paid by Trustor, lf permitted by applicable law.
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
<br />Ober Defaults. Trustor fails to comply with or to perform any other term, obligation, covenant or condition contained In this Deed of Trust or
<br />in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other
<br />agreement between Lender and Trustor.
<br />Compliance Default. Falk" to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note or in
<br />any of the Related Documents. If such a failure is curable and If Trustor has not been given a notice of a breach of the sane provision of this
<br />Deed of Trust within the preceding twelve (12) months, it may be cured (and no Event of Default will have occurred) If Trustor, after Lender
<br />sands written notice demanding cure of such failure: (a) cures the failure within fifteen (15) days; or (b) if the cure requires more than fifteen
<br />(15) days, immediately Initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps
<br />sufficient to produce compliance as soon as reasonably practical.
<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 Wen.
<br />Default In Favor of Third Partles. Should Trustor default under any loan, extension of credit, security agreement, purchase or sales
<br />agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Trustor's property or Trusto's
<br />ability to repay the Indebtedness or perform their respective obligations under this Deed of Trust or any of the Related Documents.
<br />Fates Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on Trustoes behalf under this Deed
<br />of Trust, the Nots, or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or
<br />becomes false or misleading at any time thereafter.
<br />Defective CoHaterallzNfon. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (including failure of any
<br />collateral document to create a valid and perfected security interest or Wen) at any time and for any reason.
<br />Death or Insolvency. The dissolution or termination of Trustor's existence as a going business, the insolvency of Trustor, the appointment of
<br />a reo~ for any part of Trustor's property, any assignment for the benefit of creditor, any type of creditor workout, or the commencement
<br />of any proceeding under any bankruptcy or Insolvency laws by or against Trustor.
<br />Cro~ or Forletture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, sent -help,
<br />repossession or any other method, by any creditor of Trustor or by any governmental agency against any property securing the
<br />Indebtedness. This indudss a garnishment of any of Trustors accounts, including deposit accounts, with Lender. However, this Event of
<br />Defaulf shall net apply If there is a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the basis of the
<br />creditor or forfeiture proceeding and If Trustor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender
<br />monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an
<br />adequate reserve or bond for the dispute.
<br />Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that Is not
<br />remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or otter
<br />obligation of Trustor to Lender, whether existing now or later.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party
<br />of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes Incompetent, or revokes or disputes
<br />tte vaWdMy of, or WabWMy under, any Guaranty of the Indebtedness . In the event of a death, Lender, at its option, may, but shell not be
<br />required to, permit the guarantor's estate to assume unconditionally the obligations arising under the guaranty in a manner satisfactory to
<br />Lender, and, in doing so, cure any 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 faith believes itself insecure.
<br />Right to Cure. If such a failure Is curable and lf Trustor has not been given a notice of a breach of the same provision of this Deed of Trust
<br />within the preoeding twelve (12) months, it may be cured (and no Event of Default will have occurred) If Trustor, after Lender sends written
<br />notice demanding cure of such failure: (a) cures the failure within fifteen (15) days; or (b) lf the cure requires more than fifteen (15) days,
<br />immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient
<br />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, Trustee or Lender may
<br />exercise any one or more of the following rights and remedies:
<br />Acceleration Upon Default; AddNlonal Ftemedles. If any Event of Default occurs as per the terms of the Note secured hereby, Lender
<br />may declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and
<br />payable wittaut any presentment, demand, protest or notice 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
<br />without regard to the adequacy of its security, order upon and take possession of the Property, or any part thereof, In Its own name
<br />or in the nano of Trustee, and do any acts which it doems necessary or desirable to preserve the value, markshMity or rentability
<br />of the Property, or part of the Property or interest in the Property; increase the income from the Property or protect the security of
<br />the Property; and, with or without taking possession of the Property, sue for or otherwise coWsct the rents, Issues and profits of the
<br />Property, including those past due and unpaid, and apply the same, loss costs and expenses of operation and collection attorneys'
<br />fees, to any Indebtedness secured by this Deed of Trust, all in such order as Lender may determine. The entering upon and taking
<br />possession of the Property, the collection of such rents, issues and proflfs, and the application thereof shall not cure or wave any
<br />default or notice of default under this Deed of Trust or invalidate any act done In response to such default or pursuant to such
<br />notice of default; and, notwithstanding the continuance in possession of the Property or the collection, receipt and application of
<br />rents, Issues or profits, Trustee or Lender shall be entitled to exercise every right provided for in the Note or the Related
<br />Documents or by law upon the occurrence of any event of default, including the right to exercise the power of sale;
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the
<br />covenants hereto; and
<br />(c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to use
<br />Trustor's Interest In the Property to be sold, which notice Trustee shall cause to be duly filed for record in the appropriate offices of
<br />the County in which the Property is located; and
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