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. � 99 1a778�
<br /> 11. LENDEA'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall irm�edfately provide Lender with written notice of any aclual or
<br /> thie�tened action,suit,or other proceeding affecting the Properry. Grantor hereby appoints Lender as its attomey-in-fact to corrmence,intervene in,and
<br /> defend such actions,suits,or other legal proceedings and to compromise or settle any deim or coMroversy pertaining thereto; Lender shall not be liable to
<br /> Grantor for any action,error,mistake,omission or delay pertaining to the actions descxibed in this paragraph or any damages resulting therefrom. Nothing
<br /> contafned herein will preveM Lender from taldng the acdons described in this paragraph in Ns own name.
<br /> 12 INDEMNIFICATION. Lender shall not assume or be responsible for the performance of any of Grantor's obligations with respect to the Property under
<br /> any dreumstances. Grarrtor shall imrnediately provide Lender with wririen notice of and indermify and hold Lender and its shareholders,directors,oificers,
<br /> employees and agerrts hamiless from all daims,damages, liabilhies(fnduding attomeys' fees and legal expenses), causes of actlon,actions, suits and
<br /> other legal proceedings(cumulatively"Clalms")pertaining to the Property(induding,but not limited to,those invoNing Hazardous Mffierials). Grantor,upon
<br /> the request of Lender,shall hire legal counsel to defend Lender from such Claims,and pay the attomeys'fees,legal expenses and other costs incurred in
<br /> connection therewith. In the aNemative, Lender shall be errtitled to employ its own legal counsel to defend such Claims at Grarrtor's cost. Grantor's
<br /> obligation to indermKy Lender under this paragraph shall survive the temrnation,release or foredosure of this Deed of Trust.
<br /> 13. TAXES AND ASSESSMENTS. Grantor shall pay all taxes and assessmerrts relating to Properry when due and irtrr�ediately provide Lender evidenoe
<br /> of paymerrt of same. Upon the request of Lender, Grantor shall deposit wfth Lender each morrth one-twelfth (1/12) of the estimated annual insurance
<br /> premium,taxes and assessments pertafning to the Property. So long as there is no default,these amounts shalt be applied to the paymem of taxes,
<br /> assessmeMs and insurance as required on the Property. In the evern of defaufl,Lender shall have the rigM,at its sole option,to apply the funds so held to
<br /> pay any iaxes or against the Obligations. My funds applied may,at Lender's option,be applied in reverse order of the due date thereof.
<br /> 14. INSPECTION OF PROPERTY,BOOKS,RECORDS AND REPORTS. GraMor shall allow Lender or its agerrts to examine and inspect the Property
<br /> and examine,inspecl and meke copies of Gramor's books and records pertaining to the Property from time to time. Grarrtor shall provide any assistance
<br /> required by Lender for these purposes. All of the signatures and information contained in Grarrtor's books and records shall be genuine,true,accurate and
<br /> complete in all respects. GraMor shall note the existence of Lender's benefldal irnerest in its books and records pertaining to the Property. Additionally,
<br /> Grarnor shall report,in a form satisfactory to Lender,such information as Lander may request regarding Gramor's finandal condition or the Properry. The
<br /> infom�ation shall be for such periods,shall reflect Grarrtor's records at such time,and shall be rendered with such frequency as Lender may designate. All
<br /> information fumished by Grantor to Lender shall be true,accurate and complete in all respects,and signed by GraMor if Lender requests.
<br /> 1b. ESTOPPEL CERTIFICATES. Wtthin ten(10)days afler any request by Lender,GraMor shall deliver to Lender,or any irnended transferee of Lender's
<br /> rigMs wfth respect to the Obligations, a signed and admowledged statemerrt spedfying(a)the outstan�ng balance on the Obligations;and(b)whether
<br /> Grarnor possesses any daims,defenses,set-offs or counterdaims with respect to the Obligations and,if so,the nature of such dalms,defenses,set-offs or
<br /> cournerdaims. Grantor will be condusively bound by any represerrtation that Lender may make to the irrtended iransferee with respect to these matters in
<br /> the everrt that Grantor fails to provide the rec�ested 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 evern that Grantor,BoROwer or
<br /> any guarantor of the Obligations:
<br /> (a) fails to pay any Obligation to Lender when ck�e;
<br /> (b) fails to perform any Obligation or breaches any warranty or covenarrt to Lender corrtained in this Deed of Trust or any other preserrt or future
<br /> agreemerrt;
<br /> (c) destroys,loses or damages the Property in any material respect or subjects the Property to seizure,confiscation,or condermation;
<br /> (d) seeks to revoke,terminate or otherwise limit its Ifabiliry under any guaranty to Lender;
<br /> (e) dies,becomes legally incompeterrt,is dissolved or temrnated,becomes insolverrt,makes an assignmerrt for the benefti of creditors,fails to pay
<br /> debts as they become due,flles a petftion under the federal banlwptcy Iaws,has an irnolurrtary petition in banlwptcy filed in which Grantor,Borrower
<br /> or any guaraMor is named,or has property taken under any writ or process of court;
<br /> (� allows goods to be used,transported or stored on the Property,the possession,transportation,or use of which,is illegal;
<br /> (g) allows any peAy other than Grantor or Borrower to assume or undertake any Obligation without the written conserrt of Lender;or
<br /> (h) causes Lender to deem fiself insecure due to a significant dedine in the value of the Property;or if Lender,in good faith,for any reason,believes
<br /> that the prospect of paymerrt or perfomiance is impaired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a defauft under this Deed of Trust,Lender shall be entftled to exerase one or more of the following
<br /> remedies without notice or demend(exoept as required by law):
<br /> (a) to dedare the Obligations imrnediately due and payable in full:
<br /> (b) to collect the outstanding Obligations with or without resorting io judiaal prooess;
<br /> (c) to require Grantor to deliver and rnalce avallable io Lender any personal prope►iy or Chattels constituting the Properry at a plaoe reasonably
<br /> cornenierrt to GraMor and Lender,
<br /> (d) to errter upon and take possession of the Property without applying for or obtaining the appoirrtmerrt of a receiver and, at Lender's option, to
<br /> appoint a receNer wfthout bond, without firsi bringing suft on the Obligations and without othervvise rnseting any statutory conditions regarding
<br /> receivers,it being irrtended that Lender shall have this 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 the name of Lender or in the name of Grantor,and
<br /> receive the rerrts,incomes,issues and proflts of the Property and apply the sarne,after paymerrt of all neoessary charges and expenses,on acoount of
<br /> the Obligations;
<br /> (� to pay any sums in any form or manner deemed expedierit by Lender to protect the securiy of this Deed of Trust or to cure any default other than
<br /> paymerrt of irrterest or prinapal on the Obligations;
<br /> (g) to foredose this Deed of Trust judidally or nonjudiaally and to direct the sale of the property through exerdse of the power of sale as referenced in
<br /> paragraph 20 hereof in acxordance with applicable Iaw;
<br /> (h) to set-off Grarnor's Obligations against any amourns owed Grarrtor by Lender induc�ng, but not limited to, monies, instrumerrts, and deposit
<br /> axoums meirrtained with Lender or any currently existing or future afflliate of Lender;and
<br /> (f)to exerdse all other rigMs available to Lender under any other written agreemerrt or applicable law.
<br /> Lender's rights are cumulatNe and may be exercised together, separately, and in any order. In the everrt that Lender institutes an action seeking the
<br /> recovery of any of the Property by way of a prejudgmerrt remedy in an action against Grantor, Grarrtor waives the posting of any bond which migM
<br /> othervvfse be required. Lender or Lender's designee maypurchase the Property at any sale. Proceeds of any Trustee's sale hereunder shall be applied
<br /> first,to the costs and expenses of exerdsing the power of sale and of the sale,induding the paymeM of the Trustee's fees actualty incurred and not to
<br /> exoeed the amount which may be provided for in thfs Deed of Trust,second,to paymem of the Obligations secured hereby,third,to the payment of junior
<br /> trust deeds,mortgages,or other lienholders,and the balanoe,if any,to the person or persons legally errtitled 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 discxetion may elect,and one or more exercises of the power herein grarrted
<br /> shall not extinguish or exhaust the power unless the ernire property is sold or the obligations are paid in full.
<br /> 18. TRUSTEE'3 EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to sell Grantor's irrterest in the Property by exerase of the power of
<br /> sale herein cornalned,Lender shall notify Trustee in the menner 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 requlred by law and by this Deed of Trust. Trustee shall,only at the directfon of Lender and without demand on Grantor,
<br /> after such time as may then be required by law and after reoordation of such notice of default and after notice of sale having been given as required by Iaw,
<br /> sell ihe Properry at the time and place of sale flxed by it in such notioe of sale,either as whole or in seperate lots or parcels or items as Lender shall deem
<br /> expedierrt,and in such order as It may determine,at public auction to the highest bidder for cash in Iawtul 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 sufficierrt deed or deeds
<br /> conveying the property so sold, but without any covenarrt or warranty, express or implied. The redtals in such deed of any matters or facls shall be
<br /> oondusive proof of the truthiulness thereof. My person,indu�ng,without limitation,Grantor,Trustee or Lender,may purchase at such sale. Trustee may
<br /> in the manner provided by law postpone sale of all or any portfon of the Property.
<br /> 19. REGIUEST FOR NOTICES: Grarnor requests that a copy of any notioe of defauft and a copy of any notice of sale hereunder be meiled to each person
<br /> who is a party hereto 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 flled by each such person.
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