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<br /> 11. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall irrmediately 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 ariomey-in-fact to corrxnence,intervene in,and
<br /> def�nd such aclions,-suits,or other legal proceedings and to compromise or settle any claim or controversy pertaining thereto. Lender shall not be liable to
<br /> Grantor for.any action,error,Mstake,omission or delay pertaining to the actions described in this paragraph or any damages resulting therefrom. Nothing
<br /> contained herein will 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 ihe performance of any of Grantor's obligatio�s with respect to the Property under
<br /> any circumstances. Grantor shall irrvnediately 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 attomeys' 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
<br /> the request of Lender,shall hire legal counsel to defend Lender from such Claims,and pay the attorneys'fees,legai expenses and other costs incurred in
<br /> connection therewith. In the alternative, Lender shall be errtitled to employ its own legal counsel to defend such Claims at Grantor's cost. Grantor's
<br /> obligation to indermify Lender under this paragraph shall survive the termination,release or foreclosure of this Deed of Trust:
<br /> 13. TAXES AND ASSESSMENTS. Grantor shail pay all taxes and assessments relating to Property when due and immediately provide Lender evidence
<br /> of payment of same. Upon the request of Lender, Grantor shall deposh with Lender each month one-twelfth (1/12) of the estimated annual insurance
<br /> premium, taxes and assessments pertaining to the Property. So long as there is no default, these amounts shall be applied to the payment of taxes,
<br /> assessments and insurance as required on the 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 Obligaiions. 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. Grantor shaii allow Lender or its agents to examine and inspect the Propeny
<br /> and exarnine,inspect and make copies of Grantor's books and records pertaining to the Property from time to time. Grantor 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 respects. Grantor shall note the existence of Lender's beneflcial irrterest in its books and records pertaining to the Property. Additionally,
<br /> Grantor shall report,in a form satisfactory to Lender,such information as�ender may request regarding Grantor's financial condition or the Property. The
<br /> information shall be for such periods,shall reflect Grantor's records at such time,and shall be rendered with such frequency as Lender may designate. All
<br /> information furnished by Grantor to Lender shall be true,accurate and complete in all respects,and signed by Grantor if Lender requests.
<br /> 15. ESTOPPEL CERTIFICATES. Wtthin ten(10)days after any requesl by Lender,Grantor shall deliver to Lender,or any intended transferee of Lender's
<br /> rigMs with respect to the Obligations,a signed and acknowledged statement specifying(a)the outstanding balance on the Obligations;and(b)whether
<br /> Grarrtor possesses any claims,defenses,set-offs or counterdaims with respect to the Ol�igations and,if so,the nature of such claims,defenses,set-offs or
<br /> cournerdaims. Grantor will be conclusively bound by any represerttation that Lender may make to the intended transferee with respect to these matters in
<br /> the event that 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 guarantor of the Obligations:
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to perform any Obligation or lxeaches any warrarrty or covenant to Lender contained in this Deed of Trust or any other present or future
<br /> agreemern;
<br /> (c) destroys,loses or damages the Property in any material respect or subjects the Property to seizure,confiscation,or condermation;
<br /> (d) seeks to revoke,terrrinate or otherwise limit its liability under any guaranty to Lender;
<br /> (e) dies, becomes legally incompetent, is dissolved or terminated,becomes insolvent,makes an assignment for the benefit of creditors,faiis to pay
<br /> debts as they become due,files a petition under ihe federal banlwptcy laws,has an involuntary petition in banlwpicy filed in which Grantor,Borrower
<br /> or any guarantor is named,or has property taken under any writ or process of court; "
<br /> (� allows goods to be used,transported or stored on the Property,the possession,transportation,or use of which,s illegal;
<br /> (g) allows any party other than Grantor or Borrower to assume or undertake any Obiigation 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 ood faith,for an reason believes
<br /> . 8 Y ,
<br /> ihat the os of inern or rformance is i ired.
<br /> Pr P� PaY PQ �
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a defauft under this Deed of Trust,Lender shall be entitled to exefcise one or more of ihe following
<br /> ren�edies whhout notice or demand(except as required by law):
<br /> (a) to declare the Obligations immediately due and payable in full; '
<br /> (b) to collect the outstanding Obligations with or whhout resorting to judicial process; �
<br /> (c) to require Grantor to deliver and make available to Lender any personal property or Chatte�s constituting tk�� Properry at a place reasonably
<br /> convenierrt to GraMor and Lender;
<br /> (d) to enter upon and take possession of the Property without applying for or oMaining the appointment of a raceiver and, at Lender's option, to
<br /> appoint a receiver whhout bond, without first bringing suit on the Obiigations and without otherwise meeting any statutory conditions regarding
<br /> receivers,it being intended that Lender shall have this coMractual right to appoint 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 reMs,incomes,issues and profits of the Property and apply the same,after payment of all necessary chMarges and expenses,on account of
<br /> the Obligations; ;�.
<br /> (� to pay any sums in any form or manner deemed expedient by Lender to protect the security of this Deed of Tru�t or to cure any default other than
<br /> payment of irnerest or principal on the Obligations;
<br /> (g) to foredose 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 mairnained with Lender or any cuRently 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 rights are cumulative and may be exercised together, separately, and in any order. In the event that Lenq{ar institutes an action seeking the
<br /> recovery of any of the Property by way of a prejudgmerrt remedy in an action against Grantor, Gramor 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 /> flrst,to the costs and expenses of exercising the power of sale and of the sale,inciuding the payment of the Trustee's fees actually incurred and not to
<br /> exceed the amourrt 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 /> trust deeds,mortgages,or other lienholders,and the balance,if any,to the person or persons legally entitled thereto. TFie 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 intere"st 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 direction of Lender,Trustee shall cause to be recorded,published and delivered such notices of defauft
<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 Lende.r and without demand on Grantor,
<br /> after such time as may then be required by law and after recordation of such notice of default and after notice of sale having been given as required by law,
<br /> sell the Pro at the time and ace of sale fixed b it in such notice o
<br /> Pe�'�y P� Y f sale,either as whole or in se rate lots or rcels or items as Lender s
<br /> Pa pa hall deem
<br /> expediern,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 pood and sufficient cleed 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 /> conclusive proof of the truthfulness thereof. Any person,including,without limitation,Grantor,Trustee or Lender,may purchase at such sale. Trustee may
<br /> in the manner provided by law postpone sale of all or any portion of ihe Property.
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<br /> 19. REQUEST FOR NOTICES: Grantor 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.1297
<br /> Paae 3 d 6
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