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<br /> 11. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grarnor shall immediately 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 attorney-in-fact to corrvrience,intervene in,and
<br /> defend such aclions,suits,or other legal proceedings and to comprorrrise or settle any claim or controversy pertaining therelo. Lender shall not be liable to
<br /> -Granlor for any action,error,mistake,omission or delay pertaining to the actions described in this paragraph or any damages resulting iherefrom. 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 the perforrnance of any of Grantor's obligations with respect to the Property under
<br /> any arcumstances. Grantor shall irmiediately 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 (including attomeys'fees and legal expenses), causes of action, actions, suhs and
<br /> other legal proceedings(cumulatively"Claims")pertaining to the Property(including,but not limited to,those invoNing Hazardous Materiais). Grantor,upon
<br /> the request of Lender,shall hire legal counsel to defend Lender irom such Claims,and pay the attomeys'fees,legal expenses and other costs incuned in
<br /> connection therewith. In the altemative, Lender shall be errtitled to employ its own legal counsel to defend such Claims at Grantor's cost. Grantor's
<br /> obligation to indemnify Lender under this paragraph shall survive the terrrrination,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 irrxnediately provide Lender evidence
<br /> of payment of same. Upon the request of Lender,Grarnor shall�posit with Lender each month one-lwelfth (1/12) of the estimated annual insurance
<br /> premium,taxes and assessments pertaining to ihe Property. So long as there is no defauft, these amounts shall be applied to the payment of taxes,
<br /> assessmerhs end 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 Obligations. Any funds applied may,at l.ender's option,be applied in reverse order of the due date thereof.
<br /> 14. INSPECTION OF PROPERTY,BOOKS,RECORDS AND REPORTS. Grantor shall allow Lender or its agents to exarrgne and inspect the Property
<br /> and examine,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 infom�ation contained in Grantor's books and records shall be genuine,true,accurate and
<br /> complete in all respects. GraMor shall note the existence of Lender's beneficial interest in its books and records pertaining to the Property. Add'rtionally,
<br /> Grantor shall report,in a form satisfactory to Lender,such infomration as Lender 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 whh such frequency as Lender may designate. Ail
<br /> infomiation fumished by Grantor to Lender shall be true,accurate and complete in all respecis,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 /> rigMs with respect to the Obligations, a signed and acknowledged statement specifying(a)the outstanding balance on the Obligations;and(b)whether
<br /> Grarrior possesses any claims,defenses,set-offs or counterclaims with respect to the Obligations and,if so,the nature of such claims,defenses,set-offs or
<br /> counterdalms. Grantor will be conclusively bound by any representation that Lender may make to the intended transferee with respect to these mariers in
<br /> the event that Grantor fails to provide the requested statement in a timely manner.
<br /> 16. DEFAULT. GraMor shall be in defauft under this Deed of Trust and ihe 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 breaches any warranty or covenant to Lender contained in this Deed of Trust or any other present or future
<br /> agreement;
<br /> (c) destroys,bses or damages the Property in any material respect or subjects the Property to seizure,confiscation,or condemnation;
<br /> (d) seeks to revoke,tertninate or otherwise Iimit its liability under any guaranty to Lender;
<br /> (e) d(es,becomes legally incompetent,is dissolved or termfnated,becomes insolverrt,makes an assignment for the benefit of creditors, fails to pay
<br /> debts as they beoome due,files a petition under the federal banlwptcy 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 /> (fl allows goods to be used,transported or stored on the Property,the possession,transportation,or use of which,is illegal;
<br /> (g) aitows 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 significaM decline in the value of ihe Property;or if Lender,in good faith,for any reason,believes
<br /> that the prospect of payment or pertormance is impaired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a default under this Deed of Trust, Lender shall be enthled to exercise one or more of the following
<br /> reme�es without notice or demend(except as required by law):
<br /> (a) to declare the Obligations irmiediately due and payable 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 /> cornenient to Grantor and Lender;
<br /> (d) to erher upon and take possession of the Property without applying for or obtaining the appointment of a receiver and, at Lender's oplion, to
<br /> appoirn a receiver without bond, without first bringing suit on the Obligations and wilhout otherwfse meeting any statutory conditions regarding
<br /> receivers,it being irnended that Lender shall have ihis cornractual right to appoint a receiver;
<br /> (e) to employ a managing agern of the Property and let the same,either in Trustee's own name,in ihe 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 payment of all necessary charges and expenses,on account of
<br /> the Obligations;
<br /> (fl 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 defauft other than
<br /> paymem of imerest or prindpal on the Obligations:
<br /> (g) to foredose this Deed of Trust judidally or nonjudiaally and to direct the sale of the property through exercise of the power of sale as referenced in
<br /> paragraph 20 hereof in acxcordance 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 /> acoourrts maintained wtth Lender or any currently existing or future affiliate of Lender,and
<br /> (i)to exerase all other rights available to Lender under any other written agreement or applicable law.
<br /> Lender's ri�h1s are cumulative and may be exerased together, separately, and in any order. In the event that Lender institutes an action seeking the
<br /> recovery oi any of the Property by way of a prejudgment 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 maypu rchase the Properry 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 ihe amount which may be provided for in this Deed of Trust,second,to paymern 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. 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 /> shalt 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 inierest 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 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 without demand on Grantor,
<br /> aRer 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 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 /> expedieM,and in such order as ft may determine,at public auction to the highest bidder for cash in lawful money of the United States payable at the time of
<br /> saje, a 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 /> ooiweying the properry so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be
<br /> oondusive proof of the truthfulness thereof. Any person,including,without limitation,Grantor,Trustee or Lender,may purchase at such sale. T�ustee may
<br /> in the menner provided by law postpone sale of all or any portlon of the Property.
<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 perty hereto at ihe address of such person set forih herein at the same time and in the sarne manner required as though a separate request thereof
<br /> had been filed by each such person.
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