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<br /> 11. t.ENDER'8 RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall irmie�iately provide Lender with written notice of any actual or
<br /> • �erled adfon,auit,or other proceeding affectf►�g the Properry. GraMor hereby appoirns Lender as k:attomey-in-fact to cormience,irnervene in,and
<br /> defend such adbns,sults,or other legal proceedings and to compromise or settle any daim or cornroversy pertaining thereto. Lender shall not be liable to
<br /> Grantor for any action,eROr,mistake,omission or delay pertainin�to the actions described in this paragraph or any damages resu�ing therefrom. Nothing
<br /> oontained herein will pre�roM Lender from taldng the actions descnbed in this paragraph in its own name.
<br /> 12 WDE�IIFICATION. Lender shall not assume or be responsible for ihe performance of any of Grantor's obligations with respect to the Property under
<br /> any ekarrt�atances. Grantor shall inrnediately provide Lender with written notice of and indermify and hold Lender and its sharehotders,directors,offioers,
<br /> errployees and agents harmless from all daims,dart�ages, liabilities(induding attomeys'fees and legal expenses),causes of actlon,actions, suits and
<br /> od�bgel prooee�ings(cumulatively"Claims")pertaining to the Properry(induding,but not limited to,those irniolving Hazardous Materials). Grarnor,upon
<br /> �e reque:t of Lender,shall hire legal counse�to defend Lender from such Claims,and pay the attomeys'fees,legal expenses and other oosta incurred in
<br /> eorx�ectfon therewith. In the attemative, L.e�der shall be entitled to employ its own legal counsel to defend such Ciaims at Grantor's cost. Gramor's
<br /> ob�patlon to indemnity Lender under this peragraph shail survive the termination,release or foreclosure of this Deed of Trust.
<br /> 19. TAXE8 AND ASSESSAAENTS. Cirantor shall pay all ta�ces and assessmerrts relating to Property when due and imnediately provide Lender evidence
<br /> of payment of saune. Upon the request of Lender,Grantor shall deposit with Lender each month one-twelfth (1/12) of the estimated annual insurance
<br /> premiwn,taxes and assessments pertaining to the Property. So long as there is no default, these amounts shall be appiied to the paymem of taxes,
<br /> assassrr�ents and insuranoe as required on the Property. In the event of default,Lender shail have the�ight at its sole option,to apply the funds so heid to
<br /> pey any taxes or ageinst the Obligations. My funds appifed mey,at Lender's option,be applied in reverse order of the due date thereof.
<br /> 14. IN8PECTION OF PROPER7Y,BOOKS.RECORDS AND REPORTS. Grantor shall allow Lender or its agent,s to examine and insped fhe Property
<br /> and examina.inspecl and rt�ake copies of GraMor's books and recorda pertaining to the Property from tirr�e to time. Grantor shali provide any assistance
<br /> roquired by Lender for these purposes. All of the signatures and infamation contained in Grantor'a books and records shall be genuine,true,aocurate and
<br /> compk��all respects. GraMor shall note the exlatence of Lender's benefiaal imerest in its booka and reoords pertaining to the Property. Additionally,
<br /> C�rantor ahaU repoA,in a fotm satlsfactory to Lender,such infatrretion as Lender may request regardi�g Grantor's flnancial con�ition or the Property. The
<br /> infomgtiai shaH be for such periods,shall refleq Grarna's records at such time,and shall be rendered wfth such frequency as Lender may designate. All
<br /> intortnatfon tumished by C3rantor to Lender shall be true,accurate and complete in all respects,and signed by Grantor if Lender requests.
<br /> 16. E8TOPPEL CERTIFICATES. Within ten(10)days atter any request by Lender,Grantor shall deliver to Lender,or any irrtended transferee of Lender's
<br /> ripMs wilh respect to the Obligations,a signed and adv�owledged statement speafying(a)the outstanding balance on ihe Obligations;and(b)whether
<br /> Grantor posaesses arry daima,defenses,set-offa or oouMerclalms with respect to the Obligations and,if so,the nature of such daims,defenses,set-offs or
<br /> camtardairr�s. G[arrtor witl be oondusively bound by any represerriation that Lender may make to the intended transferee with respect to these matters in
<br /> the svem thai Grarrior fails to provide the requested statemern in a timely rtranner.
<br /> 16. DEFAULT. Grantor ahall be in defauft under this Deed of Trust and the Trustee's power shall become operative in the event that Grantor,Borrower or
<br /> �Y 9��or of the Obligatbns:
<br /> (a) faNs to pay any ObUgation to Lender when due;
<br /> (b) fa�s to perform any Obligation or breaches any warranty or�venant to Lender comained in thia Deed of Trust or any other presertt or future
<br /> �:
<br /> (e) deslroys,baes a darnages the Property in any meterial respect or subjects the Property to seizure,con6scation,or candemnation;
<br /> (� seeks to revoke,tertNnate or othervvise Umit its liability under any guararny to Len�r,
<br /> (e) c8es,beoort�es legally IncompeteM,ia diasolved or temiinated,becomes insolvent,rnakes an assi�meM for the benefit of creditors,fa(Is to pay
<br /> debts as they becon�e due,files a petition under the federal banlwptcy laws,has an involuntary petition in bankruptcy filed in which 4rantor,Borrower
<br /> or any guarantor is named,or has property taken under any wrlt or process of court;
<br /> (� allows goocls to be uaed,transported or stored on the Properry,the possession,transportation,or use of which,is illegal;
<br /> (g) albwa any party other than Grantor or 8orrower to assume or undertake any Obiigation without the written consern of Lender,or
<br /> (h) cauaes Lender to deem itself insecure due to a significant dedine in the value of the Property;or if Lender,in good faith,for any reason,believes
<br /> that the prospect of paymeM or performence is impai►ed.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a defauft under this Deed of Trust,Lende�shall be eMitled to exercise one w more of the following
<br /> rort�sttles without nctioe or demand(except as required by law):
<br /> (a) to dedare the Obligations immeciately due and payable in full;
<br /> (b) to ooUed the outatanding Obligations with or wNhout resorting to judidal process;
<br /> (c) to require Grantor to deliver and rnake available to Lender any personal property or Chattels constituting ihe Property at a place reasonably
<br /> oornenient to C,ranta and Lender;
<br /> (� to erner upon and take possessfon of the Properry without applying for or obtaining ihe appointment of a receiver and, at Lender's option,to
<br /> appoint a reoeiver without bond, without first bringing suit on the Obligations and without otherwise meeting any �tory conditions regarding
<br /> neoeivera,it being interMed ihat Lender shall have thls contractual right to appoint a receiver;
<br /> (e) to employ a rnanaging agent of the Property and lei the same,either in Trustee's own name,in the name of Lender or in the name of Grarrtor,and
<br /> receive the rerns,incorries,issues and profits of the Property and apply the same,after payment of all necessary charges and expenses,on aocourn of
<br /> ihe ObligaUons;
<br /> (� to pey any sums in any fortn or manner deemed expedient by Lender to protect the security of this Deed of Trust or to cure any defauft other than
<br /> payrnern of imerest or prindpal on the Obligations;
<br /> (g) to foredose this Deed of Trust judfdally or nonju�aally and to direct the sale of the property through exerase of the power of sale as referenced in
<br /> peiragraph 20 hereof in acccordance with appiic�ble Iaw;
<br /> (h) to set-off Graritot's Obligations aga(nst any amourns owed Grarnor by Lender induding, but not limited to, monies, insiruments, and deposit
<br /> a000urns mair�tained wNh Lender or any currerrtly existing or future affiliate of Lender,and
<br /> (i)to exerase all other rights availabie to lender under any other written agreemern or applicable law.
<br /> Lender's�IgMs are cumulative and rr�y be exercised together, separately, and in any order. In the everrt that Lender institutea an action seeldng the
<br /> reoo�y oi erry of the Property by way of a prejudgment remedy in an action against Grantor, Grarnor waives the posting of any bond which migM
<br /> otherwlse be required. Lender or Lender's desi�ee may purohase ihe Property at any sale. Proceeds of any Tnistee's sale hereunder shall be applied
<br /> firsL to the costs and expenses of exe�cising the pan►er of sale and of the sale,induding the payment of the Trustee's fees actually incurred and not to
<br /> exceed the amourd which may be provided for in this Deed of Trust,second,to payment of the Obligations secured hereby,third,to the paymeM of junior
<br /> tru�deeds,mortgages,or other Benholders,and the balance,if any,to the person or persons legally errtitled thereto. The property or any part thereof may
<br /> be sold in one parcel,or in such parcels,menner or order as Lender in its sole discretion may elect,and one or more exerdses of the power herein granted
<br /> :had not exlingulsh or exhaust the power unlesa the eMire properry is sold or the obligations are pald in full.
<br /> 18. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to sell Gramor's irrterest in the Property by exerdse of the power of
<br /> ssle herein oontained,Lender shall notity Truatee in the manner then required by law.
<br /> Upon reoeipt of sudi notice of Len�r and at the direction of Lender,Trustee shall cause to be recorded,published and delivered wch 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�irection of Lender and without demand on Grantor,
<br /> aAar such time as may then be required by law and after recordation of such notice of defauft and after notice of sale having been given as requlred by law,
<br /> sep the PropeA�r ai the time and place of sale fixed by it in such�otice of sale,either as whole or in separate lots or parcels or items as Lender ahall deem
<br /> e t,and in wch order as it may detemtine,at pu�ic audion to the highest bidder for cash in lawful money of ihe United States payable at the time of
<br /> ,or as otherwise may then be required by law. Tn�stee shall deliver to such purchaser or purchasers thereof fts good and su(ficient deed or deeds
<br /> oaweyfnp the properly so sold, but without any covenaM or warrarny, express or irt�lied. The reatals in such deed of any matters or fads shall be
<br /> condusive proof of the iruthiulness thereof. My person,induding,wiihout 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 the Property.
<br /> 19�. RECUEST FOR N0710E3: Grantor rec�ests thai 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 ihereof
<br /> had been filed by each such person.
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