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<br /> 11: LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL A GTaONS.hGr�t a�inits ender as tts att eney-nef cttt cornmenee,intervene in aand
<br /> threatened action,suit,or other proceeding affecting the Properly. Y
<br /> defend such actions,suits,or other legal proceedings and to compromise or settle any claim or corriroversy pertaining ihereto. Lender shall not be liab e to
<br /> Grantor for any action,error,mistake,omission or delay pertaining to the actio�ns 9�bed in this paragraph or any damages resulting therefrom. Nothing
<br /> contained herein will prevent Lender from taking the actions described in this a r in its own name.
<br /> 12. INDEMNIFICATION. Lender shall not assume or be responsible for the perfomiance of any of Grantor's obligations with respect to the Property under
<br /> any circumstances. Grantor shall irrxr�ediately provide Lender with written notice of and indemnify and hold Lender and its shareholders,directors,officers,
<br /> erriployees and agents harmless from all claims,darna9es, �iabilities(ind n�udinn�but notfl rnited o lehose rnoiv ng Haza dous Mater als) �G antor,supon
<br /> other l e g a l proceedings(cumulatively"Claims")pehaining to the Proper►y(� 9.
<br /> tconnection therewhhr In�he�rahem�atnreU Lender shf al� be e�led o employ its�owndlegal tco nsel to de end Is 9ch Clams ataGrarnoe s cosst�nGrarnor's
<br /> obligation to indemnify Lender under thls paragraph shall sunrive the termination,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 immediately provide Lender evidence
<br /> �rer�nium,taxe and assessment�pertainingto�tehe PropertyShSlo�i ng asWhere isdno def u�hese amounit�s shall2be appliedtto the payment of ta e�s,
<br /> P
<br /> assessments and insurance as required on the Property. In the event of default,Lender shale�haneeverse order of the duei�date�hereof the funds so hel to
<br /> pay any taxes or against the Obligations. Any funds applied may,at Lender's option,be app'
<br /> 14. INSPECTION OF PROPERTY,BOOKS,RECORDS AND REPORTS. Grantor shall allow Lender or its agents to examine and inspect the Property
<br /> and�e�by Lender�fo rhese puepo ess All of he siga ures and informiaon conta�ned n Gr�orsfrboo and relc�rd shall�be genluine,�arue,a curate a d
<br /> �
<br /> complete in all respects. Gran tor s h a l l�o t e i h e e x f s t e n c e o f L e n d e r's b e neflaal iMerest ine?��din�Gran o's Pfinana a l9 c o n d rt o n r t�h e P r o p e rt y.n T h e
<br /> Grardor shall report,in a form satisfactory to Lender,such information as Lender may requ e9 9
<br /> information shall be for such perio ds,s ha l l re fl e c t G r a n t o r's r e c o r d s a t such time,and shall be rendered with such frequency as Lender may designate. All
<br /> information furnished by Grantor to Lender shall be true,accurate and complele in all respects,and signed by Grantor i f Len der reques t s.
<br /> 15. ESTOPPEL CERTIFICATES. Within ten(10)days afler any request by Lender,Grantor shall deliver to Lender,or any intended transferee of Lender's
<br /> rights with respect to the Obligations, a signed and acknowledged statement specifying(a)the outstanding balance on the Obligations; and (b)whether
<br /> Grantor 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 /> counterclaims. Grantor will be conclusively bound by any representation that Lender may make to the intended transferee with respect to these mariers in
<br /> ihe event ihat Grantor fails to provide the requested statement in a timely manner.
<br /> 16. DEFAULT. Grantor shall be in default under this Deed of Trust and the Trustee's power shall become operative in the event that Grantor,Borrower or
<br /> any guararnor of the Obligations:
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to perform any Obligation or lxeaches any warranty or covenant to Lender contained in ihis Deed of Trust or any other present or future
<br /> agreement;
<br /> (c) destroys,loses or damages the Property in any material respect or subjects the Property to seizure,confiscation,or condemnation;
<br /> (d) seeks to revoke,terminate or otherwise limit its liability under any guaranty to Lender;
<br /> (e) dies, becomes legally incompetent,is dissolved or terminaled,becomes insolvent,makes an assignment for the benefit of creditors, fails to pay
<br /> debts as they become due,files a petition under the federal bankruptcy 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 /> (f) allows goods to be used,transported or siored on the Property,the possession,transportation,or use of which,is illegal;
<br /> (g) allows 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 significant decline in the va�ue of the Property;or if Lender,in good faith,for any reason,believes
<br /> that the prospect of payment or performance is impaired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a default under this Deed of Trust,Lender shall be entitled to exercise one or more of the following
<br /> remedies withoul notice or demand(except as required by law):
<br /> (a) to declaze the Obligatfons immediately due and payable in full;
<br /> (b) to collect the outstanding Obligations with or without resorting to judiciai process;
<br /> (c) to require Grantor to deliver and make available to Lender any personal property or Chattels constituling the Properiy at a place reasonably
<br /> convenient to Grantor and Lender;
<br /> (d) to enier upon and take possession of the Property without applying for or obiaining the appointment 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,it being intended that Lender shall have this contractual right to appoint a receiver;
<br /> (e) to employ a managing agent of the Property and let ihe same,either in Trustee's own name,in the 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 /> (f) to pay any sums in any form or manner deemed expedient by Lender to protect the security of ihis Deed of Trust or to cure any defauh other than
<br /> payment of interest or principal on the Obligations;
<br /> (g) to foreclose this Deed of Trust judicially or nonjudicially and to direct the sale of the property through exercise 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 including, but not limited to, monies, instruments, and deposit
<br /> accounts maintained with Lender or any currently existing or future affiliate of Lender;and
<br /> (i)�8���F�I���II oih���ighl����il�lo?,°Lender under an�other written agreement or applicable law.
<br /> � .�. _ �:�.. ...cioa o
<br /> Lender's rights are cumulative and may be exercised together, separately, and in any order. In the event that Lender institutes an action see�ng � e
<br /> recovery of any of the Property by way of a prejudgment remedy in an action against Grantor, Grantor waives the posting of any bond which might
<br /> otherwise be required. Lender or Lender's designee may purchase the Property 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 the amount which may be provided for in this Deed of Trust,second,to payment of the Obligations secured hereby,third,to the payment of junior
<br /> trust deeds,mortgages,or other lienhoiders,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 ihe power herein granted ,
<br /> shall 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 interest 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 recor�d,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 /> 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 the Property 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 /> expedient,and in such order as it may deterrrrne,at public auction to the highest bidder for cash in lawful money of the United States payable at the time of
<br /> sale, 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 covenam or warranty, express or implied. The recitals in such deeurchase a such sale.f Trustee Imay
<br /> conclusive proof of the truthfulness thereof. Any person,including,without limitation,Grantor,Trustee or Lender,may p
<br />, in the manner provided by law postpone sale of all or any portion 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 party hereio at the address of such person set forth herein at the same time and in the same manner required as though a separate request thereof
<br /> had been filed by each such person.
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