|
. 99 107i$5
<br /> 20. SECURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shell be considered and be effective as a finandng
<br /> .statert�ent and a fixture flling pursuarri to the provisions of the Uniform Corm�erdal Code (as adopted in the state where the real property is Ixated)
<br /> covering flxtures,chattels,and artides of personal propeRy now owned or hereafter attached to or to be used in connection with the Properry together with
<br /> any and all replacemerds thereof and additions thereto(the"Chattels"),and Grantor hereby grants Lentler a security irrterest In such Chattels. The debtor is
<br /> the Grarrior desaibed above. This Deed of Trust will be effectNe as a flnandng statement filed as a fixture flling with respect to all flxtures induded within
<br /> said premises and is to be filed for record in the real estate records of each courrty where any part of said premises(indudfng said flxtures)is situated. This
<br /> Deed of Trust shali also be effective as a flnandng statement covering any otherpremises and may be filed In any otherappropriate filing or reoor�ng
<br /> oiflce. A carbon,photographic or other repro�ction of tMs Deed of Trust or of any finandng statemerrt relating to this Deed of Trust shall be sufflderrt as a
<br /> flnandng statemerrt br any of the purposes referred to in this Paragraph. The secured party is the Lender desaibed above. Upon demend,Grantor shall
<br /> rneke, execute and delNer such sewrity ageements (as such tertn is defl�ed in said Unibrm Cormiercial Code) as Lender at any time may deem
<br /> necessary or proper or required to grant to Lender a perfected security irrterest in the Chattels,and upon Grarrtor's faflure to do so,Lender is authorized to
<br /> si�any woh agreemern as the ageM of Grantor. Grantor hereby authorizes l.ender to flle flnandng statemerrts(as wch term is deflned in said Unifortn
<br /> Co►rrr�rdat Code)wfth respect to the Chattels,at any time,wtthout the signature of Grantor. Grantor will,however,at any tims upon request of Lender,
<br /> sign suc��flnandng staternents. Grarrtor will pay all flling fees for the filing of such flnendng statements and for the refiling thereof at the times required,in
<br /> the opinion of Lender,by seid Unifomi Cortrnerdal Code. If the iien of this Deed of Trust be subject to any securiry agreemerrt cove�ing the Chattels,lhen
<br /> in the event of any defautt under this Deed of Tn�st,all the rigM,tftle and irrterest of Grarrior in and to any and all of the Chattels is hereby assigned to
<br /> Lender,together with the beneflt of any deposfts or paymerrts now o�hereafter made thereof by Grantor or the predecessors or suxeasors in title of
<br /> Grantor in the Property.
<br /> 21. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender,at Lender's o lon,may expend funds(induding attomeys'fees and legal
<br /> expenses)to perfortn any act required to be taken by Grarrtor or to exerdse any rigM or reme�y of Lender under this Deed of Trust. Upon demend,Grantor
<br /> shail irtmedlately reimburse Lender for all such amouMs expended by Lender together wfth irrterest thereon at the lower of the highest raie described in any
<br /> pbligatfon or the hi�est rate allowedby law irom the date of paymerrt urrtil the date of reimbursemerrt. These sums shall be induded in the definiGon of
<br /> Obligations herein and shall be secured by the benefidal irrterest granted herefn. If the Obligatfons arep�d after the beginning of publication of notioe of
<br /> sale,as herein provided,or in the everrt Lender shall,at Rs sole option,pemit Grantor to pay any part of the Obligations after the beginning of publicaUon of
<br /> notice of sale,as herein provided,then,Grantor shall pay on demand all expenses incurred by the Trustee and Lender in oonnection wfth said pubNcaUon,
<br /> indu�ng reasonable attomeys'fees to the attomeys for the Trustee and for the Lender,and a reasonable fee to the Trustee,and this Deed of Trust ahell be
<br /> security for all such expenses and fees.
<br /> 22 APPLICATION OF PAYMENTS. The Trustee shall y the proceeds of the trustee's sale,flrst,to the costs and expenses of exercising the power of
<br /> sale and of the sale,induding thepaymerrt of the Trustee's fees actually incurred not to exceed the amourrt which may be provided for in the Deed of Trust,
<br /> second,to pa�m�errt of the obligation secured by the Deed of Trust,third,to the paymerrt of junior deeds of trust, mortgages or other lienholders,and the
<br /> balance,ff any,to the person or persons legally errtitled thereto.
<br /> 23. POWER OF ATTORNEY. Grantor herebyappoirrts Lender as its attomey-in-fact to endorse Grantor's name on all instrumerrts and other documerrts
<br /> pertaining to the Obligations or Deed of Trust. In adc�tion, Lender shall be errtftled, but notrequired,tope rfortn any action or execute any document
<br /> recauired to be taken or executed by Grarrtor under this Deed of Trust. Lender'spe rfomiance of such action or execution of such documerrts shall not
<br /> rel�eve Grarrtor from any Obligation or cure any defauft under this Deed of Trust. Alf pwers of attomey described in this Deed of Trust are coupled with an
<br /> irrterest and are irrevocable.
<br /> 24. SUBROGATION OF �ENDER. Lender shall be subrogated to the rigMs of the holder of any previous Ilen, securiry irrterest or encumbrance
<br /> disdiarged with{unds advanced by Lendet reger�ess of whether these Ilens,secu�ity irrterests or other encumbrances have been released of reoord.
<br /> 26. COLLECTION COSTS. To the eMerrt aertNtted by law,Grarrtor a�ees topay Lsnder's reasonable fees and oosts,induding,but not limited to,fees
<br /> and costs of attomeys and other agents (tnduding wfthout Iirt�tatlon paralegals, de�lcs and consultants), whether or not such attomey oragerri is an
<br /> employee of Lender,which are incurred by Lender in collecting any amount due or enfordng any rigM or remedy under this Deed of Trust,whether or not
<br /> suft is brougM,induding,but not IlMted to,all fees and costs incurred on appeal,in bankruptcy,and for post-judgment collectlon actions.
<br /> 26. PARTIAL RELEASE. Lender may release its irrterest in apo rtfon of the P by executing end recording one or more Partial Deeds of
<br /> Recorneyance without affecting its irrterest in the remeining portion of the Properry. Not ing herein shall be deemed to obligate Lender to release any of its
<br /> irrterest in the Properry(except as required under Paras�raph 38 or as may be otherwise required by law),nor shall Lender be obligated to release any part
<br /> of the Property if Gramor is in default under lhis Deed of 7rust. The lien end secu�y irrterest created by the Deed of Trust remaln in effect wRh respect to
<br /> that portfon of the property,as deflned in the Deed of Trust,that is not the aubject of this or any Partial Deed of Recornieyance
<br /> 27. MODIFICATION AND WAIVER. The modfflcatlon or waNer of any of Grarrtor's Obligations or Lender's riphts under this Deed of Trust must be
<br /> contained in a writlng signed by Lender. Lender may perfortn any of Borrower's or Grantor's ObligaUons,delay or fail to exerdse any of its rigMa or axept
<br /> peymerrts from Grantor or anyone other than Grantor without causing a waNer of those Obligations or riphts. A waiver on one oxasion shall not constftute
<br /> a walver on any other oa;asion. Grantor's Obi�' atlons under this Deed of Trust shall not be affected iflender amends,co omises,exchanges,fails to
<br /> oa
<br /> exerdse,Impeirs or releases any of the Obligat(ons belonging to any Grantor,Borrower or thirdparty or any of its rigMs nst any Grantor,Borrower or
<br /> third party or any of the Property. Lender's failure to msist upon sMct performence of any of the Obli-gations shall not be deemed a waiver and Lender ahall
<br /> have the rigM at any tlme thereafter to insist upon sufct perfom�ance.
<br /> �. SU88TITUTE TRUSTEE;TRUSTEE LIABILITY;COMPENSATION. In case of the death,inabiUty,refusal to act or absenoe of the Trustee from the
<br /> state where the real property is located or in case the holder of the Obligations shall desire for any reason to remove the Trustee or any substitute truatee as
<br /> uustee hereunder and to appoirrt a new trustee in hfs place and stea7,the holder of the Obligatlons is hereby grarrted full power to appoirrt in writing a
<br /> substitute trustee for said Trustee,and the substRute trustee shall,when appofnted,become successor to all rigMs of Trustee hereunder end the sart�e shall
<br /> become vested in him for the purposes and objects of this Deed of Trust wfth all thepow er,duties and obligations herein conferred on the Trustee. Trustee
<br /> shall not be Ilable for any emor of�dgmerrt or act done by Trustee, or be otherwise responsible or accountable under any dreumstances whatsoever.
<br /> Trustee shall nat be personally Nable in case of errtry by it or anyone acting by virtue of the powers herein grarrted it upon the Deed of Trust for debts
<br /> oontracted or Ilability or s incurred in themenagemerrt or operatlon of said premisea. Trustee shall have the ripM to rel on any instrurr�errt,
<br /> documerrt or signature authoriz ng or supporting any act on taken orproposed to be taken ft hereunder or belleved bylt ingoo�faith to bege nufne.
<br /> Trustee shall be emRled to r�rsemerrt for expenses incurred by R in the perfom�ence of fts duties hereunder and to reasonable compensation for such
<br /> of fts services hereunder as shall be rendered. Grantor will,from time to Ume,pay oompensation due Tn.istee hereunder and reimburse Trustee for and
<br /> seve and hold it harmless from and agalnst any and all loss,cost,liability,damage and expense whatsoever incurred by R in the pertormance of its duties.
<br /> All moneys received by Trustee shall,urrtil used or applied as herein provided,be held in trust for thepurposes for which they were received,but need not
<br /> be segregated in any menner from any other mcneys(except to the exterrt required by Iaw)and Trustee shall be under no liabiliry for irrterest on any
<br /> moneya reoefved by it hereunder.
<br /> 29. SUCCESSORS AND ASSIGNS. This Deed of Trust shall be binding upon and Inure to the beneflt of GraMor and Lender and their respective
<br /> suocessors,assigns,trustees,reoeivers,administratora,personal representatNes,legatees and devisees.
<br /> 30. NOTiCES. Except as otherwise requlred by Iaw,any notice or other oorm�unication to be provided under this Deed of Trust shall be in wrtting and seM
<br /> to the paAles at the addresses descrlbed in this Deed of Trust or such other address as the parties ma designate in wrfting from tirre to time. My such
<br /> notloe so given and sent by flrst dass meil,postage prepaid,shall be deemed given the earller of three�3)days after such notice is serrt or when recefved
<br /> by the person to whom such notice is being given.
<br /> 31. SEVERABWTY. Whenever possible,each provision of this Deed of Trust shsll be irrterpreted so as to be effective and valid under appllcable state
<br /> Iaw. If any provision of this Deed of Trust vlotates the law or is unenforceable,the rest of the Deed of Trust shall corrtinue to be valid and enforceable.
<br /> S2 APPLICABLE LAW. This Deed of Trust shatl be govemed by the laws of the state where the real property is located. Unless applic;able Iaw provides
<br /> otherwise,GreMOr conserrts to the jurisdiction and venue of any court selected by Lender,in its sole discretion,located in that state.
<br /> 33. II�SCELLANEOUS. Grantor and Lender agree that time is of the essence. GraMor waives presentmerrt,demend for paymerri,notice of�shonor and
<br /> protest exceprt as uired by law. All references to Grantor in this Deed of Trust shall indude allpersons signing below. If there is more than one Grantor,
<br /> their Obligat(ons sh�be p' int and several. This Deed of Trust represents the complete irrtegrated understanc�ng between Grarrtor and Lender pertaiNng to
<br /> the tertns and oondltlo�s hereof.
<br /> 94. NO THIRD PARTY RIGHTS. No person Is or shall be a third party benefldary of anyprovision of this Deed of Trust. All provisions of this Deed of
<br /> Trust in favor of Lender are intended solely for the beneflt of Lender,and no third party shall be errtftled to assume or expect that Lender wlll not waive or
<br /> conser0 to the modification of any provision of this Deed of Trust,in Lender's sole dfscreUon.
<br /> 36. PRESERVATION OF UABIUTY AND PRIORITY. Without affecting the liabiliry of Borrower,Gramor,or any guarantor of the Obligatfons,or any other
<br /> person(except a person expressly released in wrlti�p�for the paymerrt and perfom�enoe of the Obligations,and without affecNng the rigMs of Lsnder wtth
<br /> respect to any Property not expressly released in wrFfng,and without impainng in any way the priority of this Deed of Trust over the iMerest of any pe�son
<br /> acquired or first evfdenced by reoor�ng subsequerrt to the recording of this Deed of Trust,Lender may,etther before or after the matu�ity of the Obligations,
<br /> and wRhout noUce or oonsent:release any person liable for� ymerrt or pertom�ence of all or any pert of the Obligations;make anyagreer�rrt altering we
<br /> tem�s of paymerrt orperfortnanoe of all or any part of the Obti agations;exerdse or refrain from exeroising or waive any�or remedy t ah t Len�n�r�have
<br /> under the deed of Truat;acceprt additional security of any Idnd for any of Me Obligatfons;or release or otherwise with any real or rty
<br /> secu�ing the Obligations. Any person acc�iring or recordng evidence of any irrterest of any nature In the Properry shall be deemed, by acquiring sucF�
<br /> irrterest or recordng eny evidence thereof.to have consertted to all a any sucf�adions by Lender.
<br />
|