|
20. SECURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered and be effective as a financing
<br /> statement and a fixture filing pursuant to the provisions of the Uniform Commercial Code (as adopted in the state where the real property is located)
<br /> covering fixtures,chariels,and articles of personal property now owned or hereafter attached to or to be used in connection with the Property together with
<br /> any and all replacements thereof and additions thereto(the"Chattels"),and Grantor hereby grants Lender a security interest in such Chattels. The debtor is �
<br /> t a�G anmis seandbsao be f led for record nf he real I�esateffecords of ea'ch coun y where any part of sa dUpre�m se (includi�ng said fixture)is sitluated WThis �
<br /> s p
<br /> Deed of Trust shall also be effective as a financing statement covering any other premises and may be filed in any other appropriate filing or recor ing '
<br /> financin stat�ement for a y oIf the pueposes�eferred to inith'��SePar graph. The secur d part its ihe Lendeatdesc�ibed abo e�fUpont deama d,SGrantor hall �
<br /> 9 *�'
<br /> necessaXeorteroper orlrequi ed to granttto ender antperfecied secur y lintere ten the Chatt Is a d upo G anioCs fa lure to do so aLender�is au hori ed o W
<br /> rY P
<br /> Commercial C d)w thnr spect to9het Chattels,�at any timehwithout the signat ee ofrGrant rin G antor will,owever,at any t mes pofn r questof Lender, �
<br /> sign such financing statements. Grantor will pay all filing fees for the filing of such financing statements and for the refiling thereof at the times required,in �
<br /> tn the levenl of any de ault underlthis D ed of T ulsiC,all the rightetitle an�d'��nte estfofrG ao r in�and to any andlallaofrtheCha els is hereby assegnedlo
<br /> i
<br /> Lender, together with the benefit of any deposits or payments now or hereafter made thereof by Grantor or the predecessors or successors in title o
<br /> Grantor in the Property.
<br /> 21. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender, ai Lender's option,may expend funds(including attorneys' fees and legal
<br /> shall immedia ely�e mbur eCLender for all�seu h amounts expended by Lender logether with n�terest hereon atthehlowereof the highest r�ateddescr bed n any
<br /> Obli9ations hehein a d shall be Is cu ed by her benefic aa interest g anted here na Ifthe Obligat ons a e p d after he beg nn ng of publication offnotice of
<br /> 9
<br /> sale,as herein provided,or in the event Lender shall,at its sole oplion,permit Grantor io pay any part of the Obligations after the beginning of publication o
<br /> notice of sale,as herein provided,then,Grantor shall pay on demand all expenses incurred by the Trustee and Lender in connection with said publication,
<br /> including reasonable attorneys'fees to the attorneys for the Trustee and for the Lender,and a reasonable fee to the Trustee,and this Deed of Trust shall be
<br /> security for all such expenses and fees.
<br /> �le and ofChe s�e,�clud n Nthe TS ment ofrihe Trustee'sPfelesh curally ne u�red not to exceedthe�rari�unt which may be prov dedffor in t�he Deedo Trustf
<br /> 9, PaY
<br /> ba ance,if any o the pers nbo�9persons legally ent led heret Trust,third,10 ihe payment of junior deeds of trust, mortgages or other lienholders,and t e
<br /> peria�gEo t�he O�IigaRons or Deed of T ust.aPpa�ddit onnLendertshall rbe enti led,tbutnno�rrequi ed�to perfo m nyiactio ortexecu eth nyddocument
<br /> required to be taken or executed by Grantor under this Deed of Trust. Lender's performance of such action or execution of such documents shall not
<br /> relieve Grantor from any Obligation or cure any default under this Deed of Trust. All powers of attorney described in this Deed of Trust are coupled with an
<br /> interest and are irrevocable.
<br /> 24. SUBROGATION OF LENDER. Lender shall be subrogated to the rights of the holder of any previous lien, security interest or encumbrance
<br /> discharged with funds advanced by Lender regardless of whether these liens,security interests or other encumbrances have been released of record.
<br /> 25. COLLECTION COSTS. To the extent permitted by law,Grantor agrees to pay Lender's reasonable fees and costs,including,but not limited to,fees
<br /> and costs of attorneys and other agents (including without limitation paralegals, clerks and consultants), whether or not such attorney or agent is an
<br /> employee of Lender,which are incurred by Lender in colleciing any amount due or enforcing any right or remedy under ihis Deed of Trust,whether or not
<br /> suit is brought,including,but not limited to,all fees and costs incurred on appeal,in bankruptcy,and for post-judgment collection actions.
<br /> 26. PARTIAL RELEASE. Lender may release its interest in apo rtion of the Property by executing and recording one or more Partial Deeds of
<br /> Reconveyance without affecting its interest in ihe remaining portion of the Property. Nothing herein shall be deemed to obligate Lender to release any of its
<br /> interest in the Property(except as required under Paragraph 38 or as may be otherwise reqwred by law),nor shall Lender be obligated to release any part
<br /> hat e rtion of theGron�rt�Sas def neld in he Deed of Trust,rthat is notlthe subject of this oefany Partial�Deed o Re onveyance �in m effect with respect to
<br /> po P Pe Y
<br /> 27. MODIFICATION AND WAIVER. The modificaiion or waiver of any of Grantor's Obligations or Lender's righis under this Deed of Trust must be
<br /> contained in a writing signed by Lender. Lender may perform any of Borrower's or Grantor's Obligations,delay or fail to exercise any of its rights or accept
<br /> paymenis from Grantor or anyone other ihan Grantor wiihout causing a waiver of those Obligations or rights. A waiver on one occasion shall not constitute
<br /> a waiver on any other occasion. Grantor's Obli�ations under this Deed of Trust shall not be affected if Lender amends,compromises,exchanges,fails to
<br /> exercise,impairs or releases any of the Obligations belongin�g to any G�rantor, Borrowery r third pa�rty or any of its rights against any Grantor, Borrower or
<br /> ihird party or any of the Property. Lender's failure to insist u n strict rformance of an of the O gations shall not be deemed a waiver and Lender shall
<br /> have the nght at any time thereafter to insist upon strict performance.
<br /> 28. SUBSTITUTE TRUSTEE;TRUSTEE LIABILITY;COMPENSATION. In case of the death,inability,refusal to act or absence of the Trustee from the
<br /> siate where ihe real property is located or in case the holder of the Obligations shall desire for any reason to remove the Trustee or any substitute trustee as
<br /> trustee hereunder and to appoint a new trustee in his place and stead,the holder of the Obligat�ons is hereby granted full power to appoint in writing a
<br /> substitute trustee for said Trustee,and the substitute trustee shall,when appointed,become successor to all rights of Trustee hereunder and the same shall
<br /> become vested in him for the purposes and objecis of this Deed of Trust with all the power,duties and obligations herein conferred on the Trustee. Trustee
<br /> shall not be liable for any error of�udgment or act done by Trustee, or be otherwise responsible or accountable under any circumstances whatsoever.
<br /> Trustee shall not be personally liabie in case of entry by it or anyone acting by virtue of the powers herein granted it upon the Deed of Trust for debts
<br /> contracted or liability or damages incurred in the mana�ement or operation of said premises. Trustee shall have the n$ht to rely on any instrument,
<br /> document or signature authorizing or supporting any action taken or proposed to be taken by h hereunder or believed by it in good faith to be genuine.
<br /> Trustee shall be entitled to reimbursement for expenses incurred by ii in the performance of its duties hereunder and to reasonable compensation for such
<br /> of its services hereunder as shall be rendered. Grantor will,from time to time,pay corr�ensation due Trustee hereunder and reimburse Trustee for and
<br /> save and hold it harmless from and against any and all loss,cost,liability,damage and expense whatsoever incurred by it in the performance of its duties.
<br /> All moneys received by Trustee shall,until used or applied as herein provided,be held in trust for the purposes for which they were received,but need not
<br /> be segregated in any manner from any other moneys (except to the extent required by law) and Trustee shall be under no liability for interest on any
<br /> moneys received by it hereunder.
<br /> su�ccesso sEass gRs,tANDe Sec�eNers,admiDstratorsTpersonallrepresent�at�ives legat es and dev se�nefit of Grantor and Lender and their respective
<br /> 30. NOTICES. Except as otherwise required by law,any notice or other communication to be provided under this Deed of Trust shall be in writing and sent
<br /> to the parties at the addresses described in this Deed of Trust or such other address as the parties ma designate in writing from time to time. Any such
<br /> notice so given and sent by first class mail,posiage prepaid,shall be deemed given the earlier of three�3)days after such notice is sent or when received
<br /> by the person to whom such noiice is being given.
<br /> 31. SEVERABILITY. Whenever possible,each provision of this Deed of Trust shall be interpreted so as to be effective and valid under applicable state
<br /> law. If any provision of ihis Deed of Trust violates the law or is unenforceable,the rest of the Deed of Trust shall continue to be valid and enforceable.
<br /> 32. APPLICABLE LAW. This Deed of Trust shall be governed by the laws of the state where the real property is located. Unless applicable law provides
<br /> othenxise,Grantor consenls io the jurisdiction and venue of any court selected by Lender,in its sole discretion,localed in that state.
<br /> 33. MISCELLANEOUS. Grantor and Lender agree that time is of the essence. Grantor waives presentment,demand for payment,notice of dishonor and
<br /> protest except as required by law. All references to Grantor in lhis Deed of Trust shall include allpe rsons signing below. If there is more than one Grantor,
<br /> their Obligations shall be�'oint and several. This Deed of Trust represents the comptete integrated understanding beiween Grantor and Lender pertaining to
<br /> the terms and conditions hereof.
<br /> 34. NO THIRD PARTY RIGHTS. No person is or shall be a ihird party beneficiary of any provision of this Deed of Trust. All provisions of this Deed of
<br /> Trust in favor of Lender are intended so�ely for ihe benefit of Lender,and no lhird party shall be entitled to assume or expect that Lender will not waive or
<br /> consent to the modification of any provision of this Deed of Trust,in Lender's sole discretion.
<br /> 35. PRESERVATION OF LIABILITY AND PRIORITY. Withoui affecting the liability of Borrower,Grantor,or any guarantor of the Obligations,or any other
<br /> person(except a person expressly released in writing)for the payment and performance of the Obligations,and without affecting the rights of Lender with
<br /> respect to any Property not expressly released in writing,and wrthout impairing in any way the priority of this Deed of Trust over the interest of any person
<br /> acquired or first ewdenced by recording subsequent to the recording of this Deed of Trust,Lender may,either before or after the maturity of the Obligations,
<br /> and without nolice or consent:release any person liable forpayment or performance of all or any part of the Obligations;make any agreement alterin the
<br /> terms of payment orperformanceadditiona� secu tt�of n�kindtfor any of the Obligat ons;orerelease o�othe�rwi endealhw ih anye ealhort persoa p operty
<br /> under the Deed of Trust;accept Y g
<br /> imere t orhecobdi9g any ev den�thereof�,t�ha e con ented to a�ll�ora y such actionstby Lendeature in the Property shall be deemed, by acquiring such
<br /> PaAe 4 of 6
<br />
|