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� ' � � � � � 99 106794
<br /> . 11. LE�IDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTION3. Grantor shall irrxnediately provide Lender with written notice of any actual or
<br /> �`. threataned action,suit,or other proceeding affecting the Property. Grarrtor hereby appoints Lender as its attomey-in-fact to cormience,irrtervene in,and
<br /> defend such actions,suits,or other legal proceedings and to comproMse or settle any daim or controversy pertaining thereto. Lender shall not be liable to
<br /> Grantor for any action,error,mistake,omission or delay pertaining to the actions described in this paragraph or any damages resulting therefrom. Nothing
<br /> •coMained herein witi preverrt 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 perfomrance of any of Grantor's obligations with respect to the Property under
<br /> any circumstances. Grantor shall irm�ediately provide Lender with written notice of and indermify and hold Lender and its shareholders,directors,officers,
<br /> employees and agents harmless from all daims,damages, liabilities(induding 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 attomeys'fees,legal expenses and other costs incurred in
<br /> connection therewiih. In the attematNe, Lender shall be ernitled to employ its own legal counsel to defend such Claims at GraMor'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 shall pay all taxes and assessmerrts relating to Property when due and irrmediately provide Lender evidence
<br /> of paymem of same. Upon the request of Lender, GraMor shall deposit with Lender each month one-twelfth (1/12) of the estimated annual insurance
<br /> premium,taxes and assessmerrts pertaining to the Property. So long as there is no defautt, these amourrts shall be applied to the paymerrt of taxes,
<br /> assessments and insurance as required on the Property. In the event of default,Lender shall have ihe rigM,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, BOOK3,RECORDS AND REPORTS. Grantor shall allow Lender or ils agents to examine and inspect ihe Property
<br /> and examine,inspect and make copies of Grarnor's books and records pertalning to the Property from lime to time. Grantor shall provide any assistance
<br /> required by Lender for these purposes. All of the signatures and information corrtained 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 fnterest in its books and records pertaining to the Property. Additionally,
<br /> Grantor shall report,in a foRn satisfactory 10 Lender,such information as Lender may request regarding Grantor's finanaal 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 /> infomiation fumished by Grantor to Lender shall be true,accurate and complete in all respects,and signed by Grantor if Lender requests.
<br /> 1b. 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 ObOgations,a signed and adviowledged statement speclfying(a)the outstanding balance on the Obligations;and(b)whether
<br /> Gramor possesses any claims,defenses,set-offs or counterdaims with respect to the Obligations and,if so,the nature of such daims,defenses,set-offs or
<br /> counterdaims. Grantor will be conclusively bound by eny representation that Lender may make to the imended transferee with respect to these matters in
<br /> the everrt that Grarnor fails to provide the requested statement in a tlmely manner.
<br /> 16. DEFAULT. GraMor shall be in defautt under this Deed of Trust and the Trustee's power shall become operative in the eveM that Grarnor,BoROwer or
<br /> any guarantor of the Obligations:
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to perform any Obtlgatfon or breaches any warraMy or covenarn io Lender corrtained in this Deed of Trust or any other present or future
<br /> agreement;
<br /> (c) desiroys,loses or darrmges the Property in any materiat respect or subjects the Property to seizure,confiscation,or condemnation;
<br /> (d) seeks to revoke,terminate or othervvise Iimit its fiability under any guaranty to Lender;
<br /> (e) �es, becomes legally incompeteM,is dissolved or ierminated,becomes insolveM,makes an assignmern for the benefrt of creditors,fails to pay
<br /> debts as they become due,files a petition under the federal bankruptcy laws,has an involuntary petition in banlwptcy filed in which Grarrtor,Borrower
<br /> or any guarantor is named,or has property taken under any writ or proc;ess of court;
<br /> (� 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 Grarrtor or Borrovver to assume or undertake any Obligation wiihout the written conserrt of Lender;or
<br /> (h) causes Lender to deem hself insecure due to a significaM decline in the value of the Property;or if Lender,in good faith,for any reason,believes
<br /> that the prospect of payrnerrt or performance is impaired.
<br /> 17. RIGHTS aF LENDER ON DEFAULT. If there is a defauft under this Deed of Trust,Lender shall be entitled to exercise one or more of the following
<br /> rert�es without notice or demand(except as required by Iaw):
<br /> (a) to dedare the Obligatlons irrmediately due and payab�e in full;
<br /> (b) to collect the outstanding Obligations with 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 /> convenferrt to Grantor and Lender;
<br /> (d) to enter upon and take possession of the Properry without applying for or obtaining the appoirrtment of a receiver and, at Lender's option, to
<br /> appoint a receiver without bond, without first bringing suit on the Obligations and without otherwise meeting any statutory conditions regarding
<br /> receivers,i1 being irrtended that Lender shall have th(s contractual rigM 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 Gramor,and
<br /> receive the rents,incomes,issues and profits of the Property and apply the same,after payment of all necessary charges and expenses,on account of
<br /> the Obligations;
<br /> (� to pay any sums in any form or manner deemed expedierrt by Lender to protect the security of this Deed of Trust or to cure any default other than
<br /> paymerrt of interest or prinapal on the Oblfgations;
<br /> (g) to foredose thfs Deed of Trust judidally or nonjudicially and to direct the sale of ihe property through exerase 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 induding, but not limited to, monies, instrumerns, and deposit
<br /> accourns malntained with Lender or any current�y existing or future affiliate of Lender;and
<br /> (i)to exerdse all other rigMs available to Lender under any other written agreement or applicable law.
<br /> Lender's rigMs are cumulative and may be exerdsed together, separately, and in any order. In the evem that Lender institutes an action seeking the
<br /> recovery of any of the Property by way of a pre�dgment remedy in an action against Grantor, Grantor waives the posting of any bond which mi�ht
<br /> otherwise be required. Lender or Lender's designee maypurchase the Property at any sale. Proceeds of any Trustee's sale hereunder shall be applied
<br /> first,to the costs and expenses of exerdsing the power of sale and of the sale,induding the paymerrt of the Trustee's fees actually(ncurred and not to
<br /> exoeed the amourrt which may be provided for(n this Deed of Trust,second,to paymerrt 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 errtitled 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 exerases of the power herein grarned
<br /> shall not extinguish or exhaust the power unless the emire property is sold or the obligations are paid in full.
<br /> 18. TRUSTEE'3 EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to sell Grantor's interest in the Property by exerase of the power of
<br /> sale herein comained,Lender shall notify Trustee in the manner lhen required by law.
<br /> Upon reoeipt of such notice of Lender and at the direction of Lender,Trustee shall cause to be re�rded,published and delivered such notices of default
<br /> and notioes 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 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 ihe Property at the time and place of sale flxed by(t in such notice of sale,either as whole or in separate lots or parcels or items as Lender shall deem
<br /> expe�ent,and in such order as ft may deterMne,at public auctlon to the highest bidder for cash in law(ul money of the United States payable at the time of
<br /> saje, 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 /> condusive proof of the tMhfulness thereof. Myperson,induding,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 the Property.
<br /> 19. REGIUEST FOR NOTICES: Grarnor requests that a copy of any notice of defaufl 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 sarne time and in ihe same manner required as though a separate request thereof
<br /> had been filed by each such person.
<br /> NEDOTC Rau.i?A7 0....�.r Q
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