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<br /> � �6-01-1999 '�'�'���7�. _� �`� DEED OF TRUST Page 5
<br /> � ��..°�,�,�.
<br /> Loan IVo 764042 (Cor�tinued) � �,.1��25
<br /> the holder of the Note; and (d) a specific tax on ail or any portion of#he indebfedness cu on payments of principal and interast made by
<br /> Trustor.
<br /> Subsequent Taues. If any tax to which this section appties is enacted subsequent to the date of this Deed of Trust,this event shall have the
<br /> same effect as an Event of Default(as defined below),and Lender may exercise any or all of its available remedies for an Event of Default as
<br /> provided below unless Trustor either (a)pays the tax before it becomes delinquent,or (b)contests the tax as provided above in the Taxes and
<br /> Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender. �
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a securiiy agreement are a part of
<br /> this Deed of Trust. �
<br /> Security Agreement. This instrument shall constitute a security agreement to the extent any of the Property constitutes fixtures or other
<br /> personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to
<br /> time.
<br /> Securlty Interest. Upon request by Lender,Trustor shall execute financing statements and take whatever other action is requested by Lender
<br /> to perfect and confinue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real
<br /> property records,Lender may,at any time and without further suthorization from Trustor,file executed counterparts,copies or reproductions of
<br /> this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in pertecting or continuing this security
<br /> interest. Upon default,Trustor shall assemble the Personal Property in a manner and at a place reasonably convenient to Trustor and Lender
<br /> and make it available to Lender within three(3)days after receipt of written demand from Lender.
<br /> dddresses. The mailing addresses of Trustor (debtor) and Lender (secured party), from which information concerning the security interest
<br /> granted by this Deed of Trust may be obtained(each as required by the Uniform Commercial Code),are as stated on the flrst page of this Deed
<br /> of Trust.
<br /> FURTHEi� ASSURANCES; ATTORNEY-IN-FACT. ihe following provisions rsiating to tur�her.asss:rer.ces �^� a�c�ney-ir-f�ct are a p�rt�f this
<br /> Deed of Trust. .
<br /> Further Assurances. At any time,and from time to time, upon request of Lender,Trustor will make, execute and deliver, or will cause to be
<br /> made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be flled, recorded, refiled, or
<br /> rerecorded,as the case may be,at such times and in such offices and places as Lender may deem appropriate,any and all such mortgages,
<br /> deeds of trust,security deeds,security agreements,financing statements,continuation statements,instruments of further assurance,cer�ificates,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate,complete, perfect, continue, or
<br /> preserve (a)the obligations of Trustor under the Note,this Deed of Trust,and the Related Documents,and (b)the liens and security interests
<br /> created by this Deed of Trust on the Property,whether now owned or hereafter acquired by Trustor. Unless prohibited by Iaw or agreed to the
<br /> contrary by Lender in writing,Trustor shall reimburse Lender for all costs and expenses incurred in connection with the matte�s referred 4o in
<br /> this paragraph.
<br /> Attomey-in-Fact. If Trustor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby irrevocably appoints Lender as Trustors attorney-in-fact for the;;urpose
<br /> of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in lender's sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph. • .
<br /> FU1 PERFORMANCE. If Trustor pays all the Indebtedness when due,and otherwise performs all the obligations imposed upon Trustor under this
<br /> Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable
<br /> statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Properly. Any
<br /> reconveyance fee required by Iaw shall be paid by Trustor,if permitted by applicable law.
<br /> DEFAULT. Each of the following,at the option of Lender,shall constitute an event of default("Event of Default")under this Deed of Trust:
<br /> Default on Indebtedness. Failure of Trustor to make any payment when due on the Indebtedness.
<br /> Default on Other Ptryments. Failure of Trustor within the time required by this Deed of Trust to make any payment far taxes or insurance,or
<br /> any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> Compliance Default. Failure of Trustor to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the
<br /> Note or in any of the Related Documents.
<br /> Falsr.Statements. AFly warranty,representation or statement made or furnished to Lender by o�on behalf of Trustor under this Deed of Trust,
<br /> the Note or the Related Documents is false or misleading in any materiai respect,either now or ai ti�e iime ma�e or�urnished.
<br /> ___..
<br /> Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any
<br /> collateral documents to create a valid and perfected security interest or lien)at any time and for any reason.
<br /> Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment of a receiver for any part of Trus#or°s property, any
<br /> assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bsnkruptcy or
<br /> insolvency laws by or against Trustor.
<br /> Foreclosure,Forfeiture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,self-help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmental agency against any of the Property. Howevar,this subsection shall not
<br /> apply in the event of a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the basis of the foreclosure or
<br /> forefeiture proceeding, provided that Trustor gives Lender written nohce of such claim and furnishes reserves or a surety bond for the claim
<br /> satisfactory to Lender.
<br /> Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that is not r�i'�edied
<br /> within any grace period provided therein,including without limitation any agreement concerning any indebtedness or other obligation of Trustor
<br /> to Lender,whether existing now or later. ' •
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br /> dies or becomes incompetent, or revokes or disputes the validity of,or liability under,any Guaranty of the Indebtedness. Lender,at its x�tion,
<br /> may, but shall not be required to, permit the Guarantor's estate to assume unconditionally the obligations arising under the guaranty in a
<br /> manner satisfactory to Lender,and,in doing so,cure the Event of Default.
<br /> '^security. Lender in good faith deems itself insecure.
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