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99- sa�3�8s
<br /> 11. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Granior shall irrxnediately provide Lender with written notice of any actual or
<br /> threatened action,suit,or other proceeding affecting the Property. Grantor hereby appoints Lender as its attorney-in-fact to commence,intervene in,and
<br /> defend such actions,suits,or other legal proceedings and to compromise or serile any daim or controversy pertaining ihereto. Lender shall not be liable to
<br /> Grantor for any action,eROr,mistake,omission or delay pertaining to the actions described in this paragraph or any damages resulting therefrom. Nothing
<br /> contained herein wi�l prevent Lender from taking the actions described in this paragraph in its own name.
<br /> 12 INDEMNIFICATION. Lender shall not assume or be responsible for the performance of any of Grantor's obligations with respect to the Property under
<br /> any circumstances. Grantor shall immediately provide Lender with written notice of and indemniry and hold Lender and its shareholders,directors,officers,
<br /> employees and agents harmless f�om all daims,damages, liabilities(including attorneys' fees and legal expenses), causes of action, actions, suits and
<br /> other legal proceedings(cumulatively"Claims")perlaining to the Property(including,but not limited to,ihose involving Hazardous Materials). Grantor,upon
<br /> ihe request of Lender,shall hire legal counsel to defend Lender from such Claims,and pay the attomeys'fees,legal expenses and other costs incurred in
<br /> connection therewith. In ihe ahemative, Lender shall be entitled to ernploy its own legal counsel to defend such Claims at Grantor's cost. Grantor's
<br /> obligation to indemnify Lender under ihis paragraph shall survive ihe termination,release or foreclosure of this Deed of Trust.
<br /> 13. TAXES AND ASSESSMENTS. Grarnor shall pay all taxes and assessments relating to Property when due and irrxnediately provide Lender evidence
<br /> of paymern of same. Upon the request of Lender, Grantor shall deposit with Lender each month one-twelfth (1/12) of the estimated annual insurance
<br /> premium, taxes and assessmerns pertaining to the Property. So long as there is no defauft, these amounts shall be applied to the paymeM of taxes,
<br /> assessments and insurance as required on ihe Property. In the event of default,Lender shall have the right,at its sole option,to apply the funds so held to
<br /> pay any taxes or against the Obligations. Any funds applied may,at Lender's option,be applied in reverse order of the due date thereof.
<br /> 14. INSPECTION OF PROPERTY, BOOKS, RECORDS AND REPORTS. Gramor shall allow Lender or its agents to examine and inspect the Property
<br /> and examine,inspect and make copies of Grantor's books and records pertaining to the Property from time to time. Grarnor shall provide any assistance
<br /> required by Lender for these purposes. All of the signatures and information contained in Grantor's books and records shall be genuine,true,accurate and
<br /> complete in all respecis. Grantor shall note the existence of Lender's beneficial interest in its books and records pertaining to the Property. Additionally,
<br /> Grantor shall report,in a fonn satisfactory to Lender,such information as Lender may request regarding Grantor's 8nancial condition or the Property. The
<br /> infomration shall be for such periods,shall reflect Grantor s records at such time,and shall be rendered whh such frequency as Lender may designate. All
<br /> information fumished by Grantor to Lender shall be true,accurate and complete in all respects,and signed by Grantor if Lender requesis.
<br /> 15. ESTOPPEL CERTIFICATES. Within ten(10)days after any request by Lender,Grantor shall deliver to Lender,or any intended transferee of Lender's
<br /> rigMs with respect to ihe Obligations, a signed and acknowledged statement specifying(a)the outstanding balance on the Obligations;and(b)whether
<br /> Grantor possesses any claims,defenses,set-offs or counterclaims with respect to the Obligations and,if so,ihe nature of such claims,defenses,set-offs or
<br /> cournerdaims. Grarnor will be c�nclusively bound by any representation that Lender may make to the intended transferee with respect to these matters in
<br /> the everrt ihat Grantor fails to provide the requested statement in a timely manner.
<br /> 16. DEFAULT. Grantor shall be in default under this Deed of Trust and the Trustee's power shall become operative in the event that Grantor,Borrower or
<br /> any guararnor of the Obligations:
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to perform any Obligation or breaches any warranty or covenant to Lender contained in this Deed of Trust or any other present or future
<br /> agreement;
<br /> (c) destroys,loses or damages ihe Property in any material respect or subjects the Property to seizure,confiscation,or condemnation;
<br /> (d) seeks to revoke,temrnate or otherwise limit its liability under any guaraMy to Lender;
<br /> (e) dies,becomes legally incompetent,is dissolved or terminated,becomes insolvent,makes an assignment for the benefit of creditors,fails to pay
<br /> debts as they become due,files a petition under the federal bankruptcy laws,has an involuntary petition in banlwptcy flled in which Grantor,Borrower
<br /> or any guarantor is named,or has property taken under any writ or process of court;
<br /> (f) allows goods to be used,transported or stored on ihe Property,the possession,transportation,or use of which,is illegal;
<br /> (g) allows any party other than Grantor or Borrower to assume or undertake any Obligation without the written consent of Lender;or
<br /> (h) causes Lender to deem itself insecure due to a significant decline in the value of the Property;or if Lender,in good faith,for any reason,believes
<br /> that the prospect of payment or perfomiance is impaired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If ihere is a default under ihis Deed of Trust, Lender shall be entitled to exercise one or more of ihe following
<br /> rernadies without notice or demand(except as required by law):
<br /> (a) to dedare the Obligations irmiediately due and payable in full;
<br /> (b) to collect the outstanding Obligations with or without resorting to judicial process;
<br /> (c) to require Grantor to deliver and make available to Lender any personal property or Chattels constituting the Property ai a place reasonably
<br /> convenient to Grantor and Lender;
<br /> (d) to erner upon and take possession of ihe Property without applying for or obtaining the appointment of a receiver and, at Lender's option, to
<br /> appoint a receiver without bond, without first bringing suit on the Obligations and without otherwise meeting any statutory conditions regarding
<br /> receNers,it being intended that Lender shall have this contractual right to appoint a receiver;
<br /> (e) to empioy a managing agem of the Property and let the same,either in Trustee's own name,in the name of Lender or in the name of Grantor,and
<br /> receNe ihe rents,incomes,issues and profits of the Property and apply the same,aher payment of all necessary charges and expenses,on aa�unt of
<br /> the Obligations;
<br /> (f) to pay any sums in any form or manner deemed expedient by Lender to protect the security of this Deed of Trust or to cure any defauft other than
<br /> payment of interest or principal on ihe Obligalions;
<br /> (g) to foreclose this Deed of Trust judicially or nonjudicially and to direct the sale of the property through exercise of the power of sale as referenced in
<br /> paragraph 20 hereof in acccordance with applicable law;
<br /> (h) to set-off Grantor's Obligations against any amounts owed Grantor by Lender including, but not limited to, monies, instruments, and deposit
<br /> axounts mairdained with Lender or any currently existing or future affiliate of Lender;and
<br /> (i)to exercise all other rigMs available to Lender under any other written agreement or applicable law.
<br /> Lender's righis are cumulative and may be exerased together, separately, and in any order. In the event that Lender institutes an action seeking the
<br /> recovery of any of the Property by way of a prejudgment remedy in an action against Grantor, Grantor waives the posting of any bond which might
<br /> otherwise be required. Lender or Lender's designee may purchase the Property at any sale. Proceeds of any Trustee's sale hereunder shall be applied
<br /> first,to ihe costs a�d expenses of exercising ihe power of sale and of ihe sale, induding ihe payment of the Trustee's fees actually incurred and not to
<br /> exceed the amount which may be provided for in this Deed of Trust,second,to payment of ihe Obligations secured hereby,third,to the payment of junior
<br /> trust deeds,mortgages,or other lienholders,and the balance,if any,to ihe person or persons legally erttitled ihereto. The property or any part thereof may
<br /> be sold in one parcel,or in such parcels,manner or order as Lender in its sole discretion may elect,and one or more exercises of the power herein granted
<br /> shall not exiinguish or exhaust ihe power unless the entire property is sold or the obligations are paid in full.
<br /> 18. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elecis to sell Grantor's interest in the Property by exerase of the power of
<br /> sale herein corrtained,Lender shall notify Trustee in the manner then required by law.
<br /> Upon receipt of such notice of Lender and at ihe direction of Lender,Trustee shall cause to be recorded,published and delivered such notices of defauh
<br /> and notices of sale as may then be required by law and by this Deed of Trust. Trustee shall,only at the direction of Lender and without demand on Grantor,
<br /> atter such time as may then be required by law and after recordation of such notice of defauh and after notice of sale having been given as required by law,
<br /> sell the Property at the time and place of sale fixed by it in such notice of sale,either as whole or in separate lots or parcels or items as Lender shall deem
<br /> expec�ent,and in such order as N may determine,at public auction to ihe highest bidder for cash in lawful money of the United States payable at ihe time of
<br /> sale,or as otherwise may then be required by law. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds
<br /> conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facls shall be
<br /> condusive proof of the truthfulness ihereof. Any person,including,without limitation,Grantor,Trustee or Lender,may purchase at such sale. Trustee may
<br /> in the menner provided by law postpone sale of all or any portion of the Property.
<br /> 18. RE�UEST FOR NOTICES: Grantor requests that a copy of any notice of defauft and a copy of any notice of sale hereunder be mailed to each person
<br /> who is a party hereto at the address of such person set forth herein at the same time and in the same manner required as though a separate request thereof
<br /> had been filed by each such person.
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