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0�-15-1999 DEED OF TRUST Page 4
<br /> Loan No 984419 (Continued) 9►�J 10 '7 �.0 3
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of
<br /> fhis Deed of Trust.
<br /> Security A�reement. This instrument shall consNtute a security agreement to the extent any of the Properly consdtutes fixtures or other
<br /> personal property, and Lender shail have all of the rights of a secured party under the Uniform Commercfal Code as amended hom time to
<br /> time.
<br /> Security Inierest. Upon request by Lender,Trustor shall execute financing statemenis and take whatever other action is requested by Lender
<br /> to perfect and continue 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 authorization from Trustoc,file executed counterparts,copies or reproductions of
<br /> this Deed of Trust as a Bnancing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or conHnuing this security
<br /> interest. Upon default,Trustor shall assemble the Personal Prope►ty in a manner and at a place reasonably convenient to Trustor and Lender
<br /> and make it availeble to Lender within three(3)days after receipt of written demand(rom Lender.
<br /> Addresses. 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 /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions rela6ng to further assurances and attorney-+n-fact are a part of thls
<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 �ender's designee, and when requested by Lender, cause to be filed, recorded, reflled, 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 furt assurance,ce�t�ficates,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, com te, perf«Ct,contfqUe��"or
<br /> preserve (a)the obligations of Trustor under the Note,this Deed of Trust,and the Related Documents,and (b)the liens and s�urity interests
<br /> created by this Deed of Trust as first and prior liens on the Property,whether now owned or hereafter acquired by Trustor. Unless prohibited by
<br /> Iaw or agreed to the contrary by Lender in writing,Trustor shall reimburse Lender for all cosis and expenses incurred in connection with the
<br /> matters referred to in this paragraph.
<br /> Attorney-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. Fw such purposes,Trustor hereby irrevocably appoints Lender as Trustor's attorney-in-fact for the purpose
<br /> of making, executlng, delivering, flling, 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 /> FULL PERFORMANCE. If Trustor pays all the Indebtedness when due,and otherwise performs all the obiigations 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 Property. Any
<br /> reconveyance fee required by law shall be paid by Trustor,if permitted by applicable Iaw.
<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 Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or insurance,or
<br /> any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> Default in Favor of Third Parties. Should Borrower or any Trustor default under any loan,extension of credit,security agreement,purchase or
<br /> sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or
<br /> Borrowe�'s or any Trustor's ability to repay the Loans or perform their respective obligations under this Deed of Trust or any of the Related
<br /> Documents.
<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 /> False Statements. Any warranty,representation or statement made or furnished to Lender by or on behalf of Trustor under this Deed of Trust,
<br /> the Note or the Related Documents is false or misleading in any material respect,either now or at the time made or furnished.
<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 /> Det�th or Insolvency. The death of Trustor or the dissolution or termination of Trustor's existence as a going business, the insolvency of
<br /> Trustor,the appointment of a receiver for any part of Trustor's property,any assignment for the benefit of creditors,any type of creditor workout,
<br /> or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor.
<br /> Foreclosure,Forfeiture,etc. Commencement of foreclosure or forfeiture proceedings,whethe�by judicial proceeding,self-help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmental agency agafnst any of the Property. However,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 notice 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 remedied
<br /> within any grace period provided therein,including without limitation any agreement concerning any indebtedness or other obUgation of Trustor
<br /> to Lender,whether existing now or later.
<br /> Evenis Affectiny 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 option,
<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 /> Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or
<br /> pertormance of fhe Indebtedness is impaired.
<br /> Insecurity. Lender in good faith desms itself insecure.
<br /> Riyht to Cure. If such a failure is curable and if Trustor has not been given a not(ce of a breach of the same provision of this Deed of Trust
<br /> within the preceding twelve (12) months, it may be cured (and no Event of Default will have occuned) if Trustor, after Lender sends written
<br /> notice demending cure of such failure: (a)cures the failure within fitteen (15) days; or (b) if the cure requires more than fifteen (15) days,
<br /> immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient to
<br /> produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter,Trustee or Lender,at Its option,
<br /> may exercise any one or more of the following rights and remedies,in addition to any other rights or remedies provided by law:
<br /> Acceleration upon Default; Additional Remedies. if any event of default occurs as per the terms of the Note secured hereby, Lender may
<br /> declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and payable without
<br /> any presentment,demand,protest or notice of any kind. ThereaHer,Lender may:
<br /> (a) Either in person or by agent, with or without bringing any action or proceedi�g, or by a receiver appointed by a court and without
<br /> regard to the adequacy of its security,enter upon and take possession of the Property,or any part thereof,in its own name or in the name
<br /> of Trustee,and do any acts which it deems necessary o�desirable to presenre the value,maricetability or rentability of the Property,or pa�t
<br /> of the Property or interest in the Property;increase the income from the Property w protect the security of the Property;and,with or without
<br /> taking possession of the Property,sue for or otherwise coll�t the rents,issues and profits of the Property, including those past due and
<br /> unpaid,and apply the same,less cosis and expenses of operation and collection,including attorneys'fees,to any indebtedness secured
<br /> by this Deed o(Trust,all in such order as Lender may determine. The entering upon and taking possession of the Property,the collection
<br /> of such rents,issues and profits,and the application thereof shall not cure or waive any default or notice of default u�der this Deed of Trust
<br /> or invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding the continuance in
<br /> possession of the Property or the collection, receipt and appUcation of rents, issues or profits, Trustee or Lender shall be entifled to
<br /> exercise every right provided for in the Note or the Related Documents or by law upon the occurrence of any event of default,including the
<br /> right to exercise the power of sale;
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