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<br /> •11. LENDER'S RIGHT TO COMMENCE OR DEFENO LEGAL ACTIONS. Grantor shall irm�ediately provide Lender with written notice of any actual or
<br /> threatened action,suit,or other proceeding affecting the Property. Grantor hereby appoirns Lender as its attomey-in-fact to corm�ence,intervene in,and
<br /> defend such actions,suits,or other legal proceedings and to compromise or settle any daim or controversy perlaining thereto. Lender shall not be liable to
<br /> Gramor 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 will prevent Lender from taldng 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 ihe Property under �
<br /> any circumstances. Grantor shall immediately provide Lender with written notice of and indemnify and hold Lender and its shareholders,directors,officers, �
<br /> employees and agents harmless from all claims, damages, liabilities (including attorneys' fees and legal expenses), causes of action, actions, suits and
<br /> other legal proceedings(cumulatively"Claims")pertaining to the Property(including,but not limited to,those involving Hazardous Materials). Grantor,upon ;o
<br /> the request ot Lender,shall hire legal counsel to defend Lender from such Claims,and pay 1he attomeys'fees,legal expenses and other costs incurred in
<br /> connection therewith. In the a l temative, Len d er s ha l l b e e r rt i t led to e m plo y its own le gai counsel to defend such Claims at Grantor s cosi. Grantor's �
<br /> obligation to indemnity Lender under ihis paragraph shall survive the termination,release or foreclosure of this Deed of Trust. �
<br /> 13. TAXES AND ASSESSMENTS. Grantor shall pay all taxes and assessments relating to Property when due and imrnediately provide Lender evidence �
<br /> of paymern of same. Upon the request of Lender, Grarnor shall deposit with Lender each month one-twelfth (1/12) of the estimated annual insurance w
<br /> premium,taxes and assessments pertaining to the Property. So long as there is no defauh,these amounts shall be applied to the payment of taxes,
<br /> assessmerrts and insurance as required on the Property. In the event of defauft,Lender shall have the right,at its sole option,to apply the funds so held to
<br /> pay any taxes or against the Obligations. My funds applied may,at Lender's option,be applied in reverse order of the due date thereof.
<br /> 14. INSPECTION OF PROPERTY.BOOKB,RECORDS AND REPORTS. Grantor shall allow Lender or its agerrts to examine and i�spect the Property
<br /> and examine,inapect and meke copfes of CiraMor's books and records pertaining to the Property from time to tkrie. Grantor shall ds any aasistanos
<br /> required by Lender for these purposes. All of the signaturea and infom�aUon contained In arantor'm baoks and reoad��rFledl ba�atwb�;Vu�.aoax�►�nd �f.;
<br /> complete in all respects. Grarrtor shall note the existenaa of Lendsrs bsnet�ial irrt�reet in fts books end rooad��`ip�PropMY: AddtlomNY. .. .''
<br /> GraMor shall repoh,in a form satisfactory to Lender,such infom�ation as Lender may requeat regerding Grentor'a flnandal condlNon or the Property. The
<br /> information shall be for such periods,shall reflect Grantor's records at such time,and shail be rendered with 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 requests.
<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 /> rights with respect to the 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 counterciaims with respect to the Obligations and,if so,the nature of such claims,defenses,set-offs or
<br /> counterclaims. Grantor will be condusively bound by any represeMation that Lender may make to the irnended transferee with respect to these matters in
<br /> the event that Grantor fails to provide the requested statement m a timely manner.
<br /> 16. DEFAULT. Grantor shall be in defauft under this Deed of Trust and the Trustee's power shall become operative in the everrt that Grantor,Borrower or
<br /> any guaramor of the Obligations:
<br /> (a) fails to p�y any Oblfgation to Lender when due;
<br /> (b) fails to perform any Obligation or breaches any warraMy or covenar►t to Lender cornained in this Deed of Trust or any other preserrt or future ,
<br /> agreemem; I
<br /> (c) destroys,loses or damages the Property in any material respect or subjects the Property to seizure,confiscation,or condemnation;
<br /> (d) seeks to revoke,tertrinate or otherwise limit its liabiliiy under any guaranty to Lender;
<br /> (e) dies, becomes legally incompetern,is dissolved or terminated,becomes insolvent, makes an assignment for the benefit of creditors,fails to pay
<br /> debts as ihey become due,files a petition under the federa�bankruptcy laws,has an involuntary petition in bankruptcy filed 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 the 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 there is a default under this Deed of Trust,Lender shall be eMitled to exerdse one or more of the following
<br /> rerr�es wiUwut notice or dernend(excepl as required by law): ei
<br /> (a) to d�dars 1M 06Ugedlons Imrr�S1Y dw and pqlable in G�; F. l:r �
<br /> (b) to collect the outstanding Obligations whh 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 at a place reasonably
<br /> convenient to Grantor and Lender;
<br /> (d) to enter upon and take possession of the Property without appiying 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 othervvise meeting any statutory conditions regarding
<br /> receivers,it being intended that Lender shall have this contractual right to appoiM a receiver;
<br /> (e) to employ a managing agent 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 /> receive the rents,incomes,issues and profits of the Property and apply the same,after paymern of all necessary charges and expenses,on account of
<br /> the Obligations;
<br /> (� to pay any sums in any form or manner deemed expediern by Lender to protect the security of this Deed of Trust or to cure any default other than
<br /> paymerrt of irderest or prindpal on the Obligations; '.
<br /> (g) to foredose this Deed of Trust judiaally or nonjudiaally and to direct ihe sale of the property through exerase of 4he 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 amourrts owed Grantor by Lender including, but not limited to, monies, instrumerrts, and deposit
<br /> axounts maiMained with Lender or any currently existing or future affiliate of Lender,and
<br /> (f)to exercise all other rights available to Lender under any other written agreement or applicable law.
<br /> Lender's rigMs 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 ihe 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 the costs and expenses of exercising the power of sale and of the sale,including the 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 the Obligations secured hereby,third,to the payment of junior
<br /> irust deeds,mortgages,or other lienholders,and the balance,if any,to the person or persons legally er�titled thereto. 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 extinguish or exhaust the 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 elects to sell Grantor's interest in the Property by exercise of the power of
<br /> sale herein contained,Lender shall notify Trustee in the manner then required by law.
<br /> Upon receipt of such notice of Lender and at the dlrecUon of Lender,Trustee ahall cauae to be rocorded,publiahed and deflvered sudi notices of default
<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 wRhout demand on Grarnor,
<br /> after 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 requ(red by law,
<br /> sell the Properly 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 /> expedient,and in such order as it may determine,at public auction to the highest bidder for cash in lawful money of the United States payable at the 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 facts shall be
<br /> conclusive proof of the iruthfulness thereof. Any person,including,without limitation,Grantor,Trustee or Lender,may purchase at such sale. Trustee may
<br /> in ihe manner provided by law postpone sale of all or any portion of the Property.
<br /> 19. REQUEST FOR NOTICES: Grarrtor requests that a copy of any notice of default 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.
<br /> NEDOTC Rev.17A7 Pape 3 of 6
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