|
�5. TAXFS AND•ASSESSFAENTS. Grantor shal;pey all taces and assessrnertts relating!o the Property when due and immediataly provide Lender
<br /> e���enca of payment af same. Upon tha request oi L:xuier,Grantnr shai!dsposit with l.sndor each mon4h one-tweltth(t;12)ot the es9mated annual
<br /> insueanca premium,taxes and assessments}�ertsinlnq M tha?roperty�. So lo�g as there}s ne default,ih.ese amcwnts shal be apt>tied to the payment
<br /> os taxes,assessments a�d insurarv,�as required on Ute�ta4�etty. ki the evecrt at defa��ft,Le�dar shalt have tha right,at its solo ootion,to apply the
<br /> fur.ds so held ta�ay any taxea or against the Obl'u}ations. fQny funds appl'iad may,e±Lendx's opUon,be e�pplfed in teverso otdet ot the due�+at�
<br /> LhBi00t.
<br /> 76. INSPECTIOk OF PROPEATY, BOOlCS, R'�C�R�S l+ND REPOi3TS. Grantw sfiail aitow Lendm or its agents to exam:ne and inspec!Me
<br /> ProFer,�ar.d ezar,�ine,inspect and make copies at Gr&n'car's books arxf records nertatning to tha F'to�erty from time to dme. Grantor shatl provide �
<br /> any assistance require� by Ler:der for the�e purpa:�s. Atl W.the slgnaluras arid infarmadon c�nteined in Grantor's books and re�cr';shall be
<br /> ge�uin2, true, accurate and comp;ete in a11 respects_ Grar�kx•shall nois Vea existenee ot L�snder's benefidsl interest in its books s�nd records
<br /> perta;ning to rie Property. Addftionaly,Crarttor si,al;re�R,in a toms satisfactory to lender,s�ch infortnatims as lender may request rogarding
<br /> Grar,tor's finanGSi cordition cr the Property. Yho!:formation shall be for such pertods,shali rMtect Grantor's records at such tlme,and shall be
<br /> rendered wiLh such frequency as l.ander may dr.ignnbe. Ni irrtormntlon?umfshed by(3rantor to Lertder ahall be Vue,accurate and compiete in nll �
<br /> respen,�ts,and slgned by Grante:if Lender requ>��ts. �
<br /> 17. ESTOPPEL CEqT1FI�ATE5. Within tert (10}days after aiy raquest by Letuier,Grantor sliall deliver to Lendor,or any iMended Vansferee of 1
<br /> LendePs rights with respect 4o tha Obliga�ons,a signed and admowiodgsd statarnent s�eafy:nfl(a)'the outs4anding balan�e on the Obifgations;and �
<br /> (b}whether Grars�r passesses any ctams,defenses,aet-0ffs or courtterclaims with respect to Vys Obligatia�s and,H sa,the naiure of such daima, Q
<br /> detenses,set-0!ts or counterciaims. Grantor wif!be condusively bound by arry represerrtaiion tha4 Lender may make to tha intended transfereo evith
<br /> respect to these mattars in the event that GrarMor tails to provide the regussted statament in a timefy mannor. Q
<br /> f 8. EiJEPiTS OF DEFkUIT. M Event of Oafautt shalf ocair under thts Oaed eP Trus4 and the Trustee's powar shall,became operative in the ave�t that Q�
<br /> U�antor,8orrower or any guaran!ar of tt�e C�bl;gations: - W
<br /> (a) fails to pay any Gbiigation to Ler.der when due; �
<br /> (d) fails to perform any Obiigation or t�reaches arry vvarcanty or covener�t to Lender corttairtad tn this aeed of Trust or any othar prosent or future
<br /> agreement;
<br /> (c) de�stroys,!as!s or damages the ProoeRy in any matecial respec;or subje�:ts the Propery.r to seizure,conflscaUon,or eondemnatian;
<br /> (d) seeks tc revoke,hrminatia a otherwise timit Rs liability urtder any�uarartty t�t$nder,
<br /> (e) dios,becomes legalty ic�wmpetent,is dissaived or teeminated,trecomes insolvent,malces an assigrment for the benefit of ereditors,4ails to
<br /> pay debts as they t�ecome due,files a peG�on under!he 9ederal bankruptcy laws,has an involu�tary petitian in banlcruptcy filed in which G�entor,
<br /> Borrowa!or any guarantor is named,or has propart�taken under srry writ or process of couK;
<br /> � (f� ailows goods to be usaci,t*ans�orted or atored on the Propsrty,tha possessian,trans�rtation,ar use ot which,is ESlegai; �'
<br /> (g) aftows any party othar than Grantor or Barrcrwer to assume cr undcrtalce ury Obiigation without the written rans�snt ot Lender;or �"�;
<br /> (h) cauces Lsnd�r to deem itseM insecuro due to a significant decEine in the vatue ot the Prooerty;or ii Lender, fn good failh,for any reas�n,
<br /> belioves that tho prospect af payme�t a por!ormance ts impaired. '
<br /> 19. RIGHTS OF LENDER ON EYEYT�P DEFAI�LT. Upon the ocaurrence of an Event of Defauft under this Deed ot Trust,Lender shall be entitied to
<br /> exercise one�o�more ot the folfawing reme�ies without noti�e ar demand(except as required by I�w): �
<br /> (a) to c�ec!are the Qbligations immediatety due and peyable in full,such socniera�an shali be sutamatic and immtdiate if the Event of Defau�!i, '''
<br /> a tilin8 under the Bankruptey Cor.�e;
<br /> (b; 2o a�l,�ct the outstanding QbllgaLOns with cr without resorting to judidal prxess;
<br /> (cj !o raquire Grsr+tor to deliv�ar and make av�aiiable to L9ndet eny persanal propetty cr Chattels oons3ilutin9 the Property at a place reasoniz��y
<br /> amveniont to Grar.tor and Lender,
<br /> (dj tn enter upon�nd tako possessia.f ot the Property without applying for or ptrtaining the appoirttrnertt o"a raceiver and,at��.ender's opt:on,t�` '
<br /> appoini n receiver without bond,w}thdut frst bringing suit o�the Obligatio�and withou!uthenrlse me.eting nny statutory coi`f�iitions ra;jarding
<br /> receivers,it being IntanderJ that Len�er shal!have this convactua!rigM to a�ppoirtt a receiver, _
<br /> (c�) to �mploy a manag�ng age�t of the Property and let the same,either in Trustee's own name,in thb name of Lander or in the name of
<br /> Grantor, nnd receive tha rems,incomes,tssues and�roflb o!the PmFerty and apply the same,a!ter payment at n�i neohhssa�ry chrirges and
<br /> eo
<br /> expenses,on account af the Obligations;
<br /> (i) to pay an�sums?n arty form or mRnner deemed expedion4 by i.ertder!�protect the security ot th{s Deed of Trust or to cure a.ny default other
<br /> thsn payment o!interest or principal on the Obltgadons;
<br /> la) tr tnreclose this Deed of Trust judiaally or nonj�dicia!!y and to direct the sale oi the property throuph exer�'se ot tha povier of sale aa
<br /> refarenced in paragraph 20,herein,in ao�rdance with appiicabie law;
<br /> (h)!o se!-oft Grsntor's OblEgations against eny amounts owed Grantor by Lender induding,but not limited to,monies,ins:rumesits,and daposit
<br /> accounis mairr:sined with Lender or any cusrently exEstin�cr futura affiliate of Lcsnder;and
<br /> O to exercise s!I otfier rights avaitable 4o Lender under any other written ag�eement er ap�itcRble law.
<br /> Lender's rights are cumulative and mny be exerased together,separately,and in any erclar. In the event that Londer Snstit�:!a�an uctian seeking
<br /> tt�e recovery of any ci tha Property tsy way of a prejudgment remedy in an acUon against Grentor,Grentar wahres the posUs,o�of any bond whlch
<br /> migM otherv+ise be required. Lender or Lender's deslgnes m�ry purchase the Prauerty at any aale. Proceada Qt any Trus!�,ie's sale hsreunder
<br /> shal!be appliad first,to the costs and expnnses of exercising the power ot sale a�d of the sale,irtciuding Mr,payment.f the Trustee's}ees
<br /> actuatly incurred and nat to exceed the amo�rtt vrhich may'be provided for in this Deed o!Trust,second,to p�yment ot tta Obflgations secured
<br /> hereby,third,to the paymant of junia trust deeds,mortgages,or other Itenhoiders,and tho balance,H ary,to the person or persons legally
<br /> enH;led therato. The Property ar arry part thereof may be sald ira one parcal,or in such parcels,manner or o;der as tander in its sole discreUon
<br /> may e;ea,and one or more exer�sss of the po:.�r heretn granted shali not extinguisli or exhaust the pow,er unlesa tha enUre Praperty Is sold or
<br /> ths ob�igations are paid i�f�ll.
<br /> 20. TRt.!STEE'5 DtERCISE OF POWER CF S4i.E QN DEFAULT. Upon detauk by Borrowe�in pxyrrient:�f any Obiiga�ons sacured hareby,Lender
<br /> may declare alt sums,secured hereby,immediately due anti payable ar�d shail cause to be fited of reccr�a wr(tten notfas of dsfauit and eloction to
<br /> sel!the Froperty. Aftar the lapse of su:.h tine as then may be requlred by law following recor�aHor,of such notice of de'4uit,nnd notice of saie
<br /> having been given as then required by law,Tnistee,wi4hout demand on Gtanto�,shalt sell such Proparty,either as a whole or in separate parcels,and
<br /> i�such order as it or Lender may determine,at pubtic aucUon to Uu�highest biddar. Trustee may postporie the sale of aJl or any pertion oi the
<br /> Froperty by public snnouncement at the time and place at sale,and hnm tlme to time iheteafter may postpone the r�►la by public announcement at
<br /> the ttme and place flxed by the precedirsg postponement. Trustee shaU deltver to such purchae2r iU deed conveyl�g the property,or portlan thereof,
<br /> so sold,but without any covenent or wertanty,exprea.s or impt(ed. Thr�rocitals in auch doed of any matters ot fnct or othsrwise,shell be conclusive
<br /> proo}oi the truthfulness ttieroot. My perran,induding Grantor,Truaten or Lender,may pum,nase at such aale.
<br /> 21. REOliEST FaR NOTICES. Grantor requests that a copy of arty ncrtice oi detault an:i n copy ot eny noUce of sate hereunder i�e mailed ta each
<br /> person who is a party hersto,at tha address oi such persan set torth herefn at the same tlme and in ths same menner required as though a separate
<br /> request thereof had been filed by each such person.
<br /> 22. SECURITY fNTEREST UNDEFi THE UNIFJRM COklAREACIAL C'OD& Th(s �eed ot Trust strall be considered a finsr�cinq statement and a
<br /> fixture fil;ng pursuant to the provisions af the UnHorm Commerciai Catte (as adr,pted in the state where the PropeRy is loca4ed)cove7ng fixtures,
<br /> chattels,and ariides of personai property now owned or hareafter aifac�ad to or to be used in connection with the Property together with any and all
<br /> replacements chereof and additinns thereto(the'(;fiattels�,arul Carantor hersty grants lender a securty interest in such Chatteis. The debtor ts ihe
<br /> Grantor descriaed above. The sacured party is the Lender dssaibed ab�. Upan demand,Grantor shall maka,execute and dei!ver such s�c�rity
<br /> agreements(as such term is deflned in said Unitortn Commardal Code)as tsndar at ury time may deem nec�ssary or proper or reqvired to grant to
<br /> Lender a perfected security iMSrest in tha t�attels,.9nd upon�xartor's trriure to do so,Lsnder fs authurized to sign any such agreement as the agent
<br /> of Grantw. Gr�ntor hareby authorizes Lender to fite finanang stateme�ts(as such tetm is defined In said Unifotm Commarciai Code)with respect to
<br /> Ltie Chattets,at sny tima,without the signature of Cxantor. Grar;tor w!if,tme++evet,at any time upon request of Lender,sign suctt flnanc!ng stataments.
<br /> Grantor will pay all filing fees for the filing oi such financtng statem�artts ar;tl for tha refiling therbof at the tfines required,in tha opinion ot lender,by
<br /> said Unifoim Commercial Cocfa. H the lien of this Deed of 7rust'ss subject to arry security agreement covsring the Chattals,then in the ov��nt of any
<br /> deisuit under this Deed af Trust,atl tho right,titf�e and interost ct Graritor in��nd to any and ali oi the Chatiels ia hereb}r assigned to Lender,!agether
<br /> with tha benefit of sny deposits or paymertts now or hareaftv.r made tharoaJ by Grantor or tte predecessors or successors in title of Grarttor in the
<br /> Propert}�.
<br /> 23• REFPy98G^n3�!�SENT OF AMOI!NTS IXPENDED 8Y LENDER. Lender,at t.�rnder's optlon,may expend funds(incfuding attorneys'fees a�d i.egat
<br /> expensr�s)to perform any act requfred to be taken�y Gramor or to exerase a�y right or remedy of Lendar under this Deed oi Trust. Upon demand,
<br /> Grantor shall immediately refmtrurse Lerxier for aft such ar.iouMS exponded b;�Lender toge�er with inberest Lhareon at the lower of the hightst ra'e
<br /> descrit�s:l in Fsny Obligatio�cr the highest rate allowed by law irom the date�of payment until the date oi reimbursement. These sums shall be
<br /> included in the defi�ftior,of Obttgat3ons harein and shali be secxired by the bienefidal interest granted herefn. M the Obilgations xre paid after the
<br /> beginr.ing of pvblicaaon of natiee of sa1e,as hereirt provided,or tn the event I.ender shaN,at its sole option,permk Gmntor to pay aRy part oi the
<br /> Gbligstions aftar the beginning of publicatian oi notice of sa1e,as hereirt provicled,then,�rantar ahal!pay on domand ali expenses lncu•red by tha
<br /> Trustce and Len�er in cannection w#tfi sa3d pubtica�on,ir�uding reasor.at7le attomeys'fees to the attomeys far the Trusiee and for the Lender,and a
<br /> reascnabla fee to the Trustea,snd this Deed vt Trust shall be sr�,urity for�JI suct�expenses and tees.
<br /> 24. APPUCATION OF PAYMENTS. All paymerrts made by or on i�hs,if of Graritor may be appifedag ainst the amourtts paid by Lender(including
<br /> att�rneys'fees snd legai expense�)(n connection wSth thn exerrr,iae of its riphts ar romediea described fn this Oeed of Trust and then to the paymertt
<br /> ot the remafniny Qbligatfona in wha2ever a�der Lender chooses.
<br /> ts. POW'/ER OF Al"fORNEY. Grentar hereby ap�ofnts Lender as its attomeyin-tact to endorse GraMOr's name on ail InsVuments and other
<br /> documents pertaining to the'Jbligat'vsrts or Geed eif Trust tn addition,Lender shali be entiUad,but not required,to perform any action or execute any
<br /> C
<br /> document required to be takxn or execuier! by Grantor under�is Deed of 7rust Lender'a pertormance of such ccUon or exxution oi such
<br /> , documents shail not reiieve Grantor from ary OYl�gation or c�re any defauR under thfs Dsed oi Trust. AI!{wwers of attomey deuxibed in thia Deed of
<br /> Trust are coupled wim an interest end are irrevocnble.
<br /> �' 26. SIlBROGATI�N OF LEW�i�R. Lender sheli be s:+;brogated to the�ghts of the hoider of any prcvipua lfen, aecurky interest or encumbran
<br /> F, discharged with funds advaneed by lender regardiess oi whethsr thess Ifens,eecurtty irtterests a other anwmbrancea have bseq ro s d oi ro
<br /> ��: , tPNESIw L FomwlonT«hnowpi�a,lnc��i/9/De) feoo7Y��•�7pp ��l,,.� '� '
<br /> rawad�
<br /> tv—
<br /> �i.. : . . . . ... . '..�a 1 t.
<br /> .,"Ir�?•_ � LI_
<br />
|