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� ' � 99 107628
<br /> 11.�!.ENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall irm�ediately provide Lender with wrttten noUce of any actual or
<br /> , threatened action,suft,or other proceeding affecting the Property. GraMor hereby appoiMS Lender as its attomey-in-fact to oorm�ence,irrtervene in,and
<br /> defend auch actions,sufts,or other legal proceedings and to oompromise or settle any daim or coMroversy partaining thereta Lender shall not be liable to
<br /> Grantor for any action,error,Mstake,oMssion or delay pertaining to tha actions describad in this pevagraph or any damages resutUng therefrom. Nothing
<br /> comained herein will preveM Lender from taldng the actions described in th(s paragraph in fts own nama.
<br /> 12 INDEMNIFICATION. Lsnder shall not assume or be responaible for the perfom�ence of any of GraMor's obligations with respect to the Property under
<br /> any dreumstances. Grazrtor shall irtrnedfately provide Lender with written noUce of and indermify and hold Lender and its sharef�olders,directors,oHicers,
<br /> ertployees and agerrts hartr�ess from all claims,damapes, IiabilRies(induding attomays'feas and legel expenses),causes of action,actions, sufts and
<br /> other legal prooeedings(cumulaUvely"Claims")pertaining to the Property(induding,but not Bmited to,thosa irnolving Hazardous Materials). Grantor,upon
<br /> the request of Lender,shall hire legal oounsel to defend Lender from such Claims,and pay the attomeyc'fees,legal expensee and other costs incurred in
<br /> connection therwvfth. In the altemative, Lender shall be errt�led to ert�l� fts a�vn lagal counsel to dafand wch Claims at Grantor's cost. Grantor's
<br /> obligation to indertnity Lender undar this para�aph ahall survive the tertni�,relaa:e or foredosuro of this Deed of Trust.
<br /> 13. TAXES AND ASSESSMENTS. Grentor shall pay all taxes and aasa:smerrts relaUne to Property wtren due and imr�ediately provide Lender evidence
<br /> of paymerrt of same. Upon the request of Lender,Grantor shall depo�t with Le�der aach morrth one-tweKth (1/12) of the estirt�ated annual insurance
<br /> premium,taxes and assessmerrts pertaining to the Properry. So long as there is no default,these amounts shall be applied to the paymerrt of taxes,
<br /> assessmerrts and insurance as rec�ired on the Property. In the ever�t of default,Lender=hall have the rigM,at its sole option,to apply the tunds so held to
<br /> pay any taxes or against the Obligatlons. Any tunds applied may,at Lender's opdon,ba applied in reverse order of the due date thereof.
<br /> 14. INSPECTION OF PROPERTY,BOOKS,RECORDS AND REPORTS. Grantor shall allow Lendet or ltsagents to exaMne and inspect the Property
<br /> and sxamine,inspect and make copies of Grantor's books and records pertaining to the Property from timB to time. Grantor shall provide any assistance
<br /> requfred by Lender for these purposes. All of the signatures and infom�aUon coMained in Grantor's books and records shall be genuine,true,axurate and
<br /> eomplete in all respects. GraMor shall note the existenoe of Lender's benefiaal irrterest in its books and records pertaining to the Property. Additionally,
<br /> Grantor shall report,in a fortn satisfactory to Lender,such information aa 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 with such frequency as Lender may designate. All
<br /> infomiation fumished by Grantor to Lender shall be tn�e,accurate and complete in all respects,and si�ed by Grantor if Lender requests.
<br /> 1a. ESTOPPEL CERTIFICATES. Within ten(10)days after any request by Lender,Grantor shall deliver to Lender,or any irrtended transferee of Lender's
<br /> rigMs with respect to the Obligations,a signed and adviowledged statemerrt speafying(a)the outstanding bslance on the Obligatlons;and(b)whether
<br /> Grantor possesses any daims,defenses,set-offs or courrterdaims with respect to the Obligations and,if so,the nature of such daims,defenses,set-offs or
<br /> courrterdaims. Grantor will be oondusively bound by any representation that Lender may rtreke to the irrtended transferee with respect to these matters in
<br /> the everrt that Grantor fails to provide the requested statemerrt in a Umely menner.
<br /> 16. DEFAULT. Grantor shall be in defauft under this Deed of Trust and the Trustee's power shall becotne operative in the everrt that Grantor,Borrowar or
<br /> any guarantor of the Obligations:
<br /> (a) fails to pay any Obligatfon to Lender when due;
<br /> (b) fafls to perfortn any ObIlgaUon or breaches any warrarAy or covenarrt to Lender ooritained in ihis Deed of Trust or any other preseM or future
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<br /> (e) destroys,loses or darr�ages the Property in any material respect or wbjeds the Property to sefwre,confiscaUon,or condermation;
<br /> (d) seeks to revoke,temiinate or othervvise limit its liabiliy under any guaranty to lander;
<br /> (e) c�es,beoomes legally lncompeterrt,is dissolved or terminated,becomes insolverrt,makes an assignmerrt for the beneflt of credhors,falls to pay
<br /> debts as they become�e,flles a petiNon under the federal banlwptcy Iaws,has an involuntary petftion in banlwptcy flled in which Grantor,Borrower
<br /> or any guararrtor is nart�ed,or has properry taken under any wrft or proce�of court;
<br /> (� allows goods to be used,transported or stored on the Property,the possession,transportatfon,or use of whlch,is illegal;
<br /> (g) allows any party other than Grarrtor or Borrower to assume or undertake any Obligation without the written consent of Lender,or
<br /> (h) causes Lender to deem ftself insecure due to a significant dedine in the value of the Property;or if Lender,in good fafth,for any reason,believes
<br /> that the proapsct of paymerrt or pertormance i:impaired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a default under this Deed of Trust,Lender shall be errtitled to exerdse one or more of the following
<br /> remedies without notice or demend(except as required by Iaw):
<br /> (a) to dedare the Obligations irm�ediately due and payable in full;
<br /> (b) to oollect the outstanding Obligations wfth or wfd�out rosorting to judiaal process;
<br /> (c) to requfre GraMor to deliver and meke availabte to Lender any peraonal property or Chattels constituting the Property at a place reasonably
<br /> oonvenierrt to Grantor and Lendar,
<br /> (d) to eMer upon and take possession of the Property without applying for or obtaining the appointrneM of a reoeiver and, at Lender's option,to
<br /> appoirrt a receNer wfthout bond, wfthout flrst bringing suit on the Obligations and wfthout otherwise rt�eeting any statutory conditions regarding
<br /> reoeNers,it being irrtended that Lender shall have this corrtractual rigM to appoiM a receiver,
<br /> (e) to employ a menaging agerrt 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 rerrts,incomes,iswes and proflts of the Property and apply the sarrie,after paymerrt of all neoessary charges and expenses,on axourrt of
<br /> the Obifgations;
<br /> (� to pay any sums in any fortn or menner deemed expedierrt by Lender to protect the secu�ity of thi:Deed of Trust or to cure any default other than
<br /> paymern of irrterest or prindpal on the Obligations;
<br /> (g) to foredose this Deed of Trust ju�cially or nonjudiaally and to direct the sale of ttw property throuqh exerdse of the power of sale as referenoed in
<br /> paragraph 20 hereof in ac000rdance wlth applicable law;
<br /> (h) to set-0ff GraMor's Obligations agafnst any amourrts owed Grantor by Lender Indu�ng, but not limited to, monies, instrumerrts, and deposit
<br /> acoouMs meiMained with Lender or any arreMly existing or tuture afflliate of Lender,end
<br /> (i)to exerdse all other rigMs available to Lender under any other written agreerr�rrt or applicade law.
<br /> Lender's �i�s are cumulatNe and may be exerased together, separately, and in any order. In the everrt that Lender institutes an action seeldng the
<br /> recovery o any of the Property by way of a prejudgment rernedy in an action against Grantor, Grantor waives the posting of any bond which migM
<br /> otherwise be required. Lender or Lender's designee maypurchase the Property at any sale. Prooeeds of any Trustee's sale hereunder shall be appl�ed
<br /> flrst,to the costs and expenses of exerdsing the power of cale and of the sale,induding the paymerrt of the Trustee's fees actually incurred and not to
<br /> exosed the amourrt which may be provided for in this Deed of Trust,seoond,to paymerrt of the Obligations sea�red hereby,third,to the paymern of junior
<br /> trust daeds,mortgages,or other lienholders,and the balance,if any,to the peraon or persons legally errtitled thereto. Thepro perty or any pert thereof may
<br /> be sold in one parcel,or in such paroels,manner or order as Lender in its sole discretion may elect,and one or more exercises of the power herein granted
<br /> shall not extinguish or exhaust the power unless the erdire property is sold or the obligationc are paid in full.
<br /> 18. TRUSTEE'S EXERCISE OF P011VER OF SALE ON DEFAULT: If Lander elects to sell Grarrtor's irrterest ln the Properry by exerase of the power of
<br /> sale herein coritained,Lender shall notfiy Trusiee in the menner then required by law.
<br /> Upon reoeipt of such notice of Lender end at the direcGon of Lender,Trustee shall cause to be recorded,published and delivered such notices of defauft
<br /> and notices of sale as may then be required by Iaw and by this Deed of Trust. Trustee shall,only at the�rection of Lender and without demand on Grantor,
<br /> after such time as may then be required by Iaw and after recordation of such notice of defauR and after notice of sale having been given as required by Iaw,
<br /> sell the Property at the time and place of sale fixed by ft in such notice of sele,efther as whole or in seperate lots or parcels or Rems as Lender shall deem
<br /> expe�errt,and in such order as ft may determina,at public auction to the highest bidder br cash in Iawful mcney of the United States payable at the time of
<br /> saie or as otherwiae may then be requfred by Iaw. Trustee shall deliver to such purchaser or purchasers thereof its good and suffiderrt deed or deeds
<br /> corneying the property so sold, but without any covenarrt or warranry, express or ImpUed. The redtals in such deed of any matters or facts ahall be
<br /> condusive proof of the tnnhfulnesa thereof. Any person,induding,without limttatfon,Grantor,Trustee or Lender,may purchaae at such aale. Trustee may
<br /> in the menner provided by Iaw postpone sale of all or any portion of the Proparry.
<br /> 19. REQUEST FOR N0710ES: Grentor requests that a copy of any notice of default and a copy of any no�ce of sale hereunder be mailed to each person
<br /> who fs a party hereto at the addreas of auch peraon set forth herein at the sarr�e time and in the same mennar required as though a separate request thereof
<br /> had been flled by each such person.
<br /> NEDOTC Rw.t?l87 Pap�3 d B
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