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• 99 108058
<br /> 11. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall irtrnediately provide Lender wfth written notice of any actual or
<br /> threatened action,suit,or other proceeding affecting the Property. Grantor hereby appoir»s Lender as its attomey-in-fact to cormience,irrtervene in,and
<br /> riefend such actions,suits,or other legal proceedings and to compromise or settle any claim or controversy pertaining thereto. Lender shall not be liable to
<br /> Grantor for any aetion,error,mistake,omission or delay pertaining to the actions descxibed in this paragraph or any damages resufting therefrom. Nothing
<br /> comained herein will prevent Lender from takfng the actions 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. Grantor shall immediately provide Lender wfth written notice of and indermify and hold Lender and its shareholders,directors,officers,
<br /> employees and agerrts hamiless from all daims,damages, liabilities(induding attomeys' fees and legal expenses), causes of action, actions, suits and
<br /> other legal proceedings(cumulatively"Claims")pertain(ng to the Property(induding,but not limited to,those irnoNing Hazardous Materials). Grarrtor,upon
<br /> the request of Lender,shall hire legal counsel io defend Lender from such Claims,and pay the attomeys'fees,legal expenses and other costs incuRed in
<br /> connection therewith. In the altemative, Lender shall be eMitled to employ its own legal counsel to defend such Claims at Grantor's cost. Grantor's
<br /> obligation to indermity Lender under this paragraph shall sunrive the temrnation,release or foredosure of this Deed of Trust.
<br /> 13. TAXES AND ASSESSMENT3. Grantor shall pay all taxes and assessments relating to Property when due and imnediately provide Lender evidence
<br /> of paymern of same. Upon the request of Lender,Grarrtor shall deposit with Lender each rrbnth one-twelfth (1/12) of the estimated annual insurance
<br /> premium,taxes and assessmeMs pertaining to the Property. So long as there is �o defauft,these am�unts shall be applied to the paymerrt of taxes,
<br /> assessmerns and insurance as required on the Property. In the evern of defauft,Lender shall have the rigM,at its sole option,to apply the funds so held to
<br /> pay any taxes or against the Obligations. Any funds applfed may,at Lender's oplion,be applied in reverse order of the due date thereof.
<br /> 14. INSPECTION OF PROPERTY,BOOKS,RECORDS AND REPORTS. Grarrtor shall allow Lender or its agents to exart3ne and inspect the Property
<br /> and examine,inspect and meke copies of Grantor's books and records pertaining to the Property from time to time. Grantor shall provide any assistance
<br /> required by Lender for these purposes. All of the sigiatures and infwmation corrtafned in Grantor's books and records shall be genuine,true,accurate and
<br /> complete in all respects. Grantor shall note the existence of Lender's beneficfal irrterest in its books and records pertaining to the Properry. Addhionally,
<br /> Grarnor shall report,in a form satisfactory to Lender,such information as Lender may request regarding Grarnor's finanaal condition or the Property. The
<br /> information shall be for such periods,shall reflect Grantor's records at such time,and shall be rendered whh such frequency as Lender may designate. All
<br /> infomiation fumished by Grantor to Lender shall be true,axurate and complete in all respects,and signed by Grarnor if Lender requests.
<br /> 1b. ESTOPPEL CERTIFICATES. Wrthin ten(10)days aRer any request by Lender,Grantor shall deliver to Lsnder,or any iMended transferee of Lender's
<br /> �igMs with respect to the Oblfgations, a signed and adviowledged statemerrt spedfying(a)the outstanding balance on the Obligations;and(b)whether
<br /> Grantor possesses any daims,defenses,set-offs or courrterdaims wtth respect to the Obligations and,if so,the nature of such daims,defenses,set-offs or
<br /> couMerdaims. Grantor will be condusively bound by any representation that Lender may rneke to the irrtended transferee with respect to these matters in
<br /> the event that Grantor fails to provide the requested statemem in a timely manner.
<br /> 16. DEFAULT. Grantor shall be in defauft under this Deed of Trust and ihe Trustee's power shall become operaiive in the event that Grantor,Borrower or
<br /> any guarantor of the Obligations:
<br /> (a) falls to pay any Obligation to Lender when due;
<br /> (b) fails to perform any Obligation or breaches any warranty or covenarrt to Lender contained in this Deed of Trust or any other presern or future
<br /> agreemeM;
<br /> (c) destroys,loses or damages the Properry in any materiel respect or subjects the Property to seizure,confiscation,or condermation;
<br /> (d) seeks to revoke,terminate or othervvise limit its liability under any guaranty to Lender;
<br /> (e) dies,becomes legally incompetern,is c�ssoNed or terminated,becomes insolvent,makes an assignment for the benefit of creditors,fails to pay
<br /> debts as they become due,flles a petRion under the federal bankruptcy Iaws,has an involurrtary petition in banlwptcy flled in which Grantor,Borrower
<br /> or any guarantor 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 paAy other than Gramor 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 significaM dedine in the value of the Property;or if Lender,in good faith,for any reason,believes
<br /> that the prospect of payrnerrt or performenoe is impaired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a default under this Deed of Trust,Lender shall be entitled to exerase one or rr�re of the following
<br /> remedies without notice or demand(exoept as required by law):
<br /> (a) to dedare the Obligations immediately due and payable in full;
<br /> (b) to collect the outstanding Obligations with or without resorting to judiaal process;
<br /> (c) io require GraMor to deliver and make available to Lender any personal property or Chattels constftuting the Property at a place reasonably
<br /> convenlerrt to Grarnor and Lender;
<br /> (d) to erner upon and take possessfon of the Property without applying for or obtaining the appointment of a receiver and, at Lender's option, to
<br /> appoirrt a recebe� wfthout bond, without first bringing suit on the Obligatfons and without otherwise meeting any statutory conditions regarding
<br /> receNers,ft being intended that Lender shall have this contractual rigM to appoim a receiver;
<br /> (e) to employ a managfng ageM 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 rerns,incomes,isaues and proflts of the Property and apply the same,after paymertt of all necessary charges and expenses,on axount of
<br /> the Obligations;
<br /> (fl to pay any sums in any form or manner deemed expedierrt by Lender to protect the security of this Deed of Trust or to cure any defauft other than
<br /> paymerrt of irrterest or prinapel on the Obligations;
<br /> (g) to foredose this Deed of Trust judidally or nonjudidally 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 applicade law;
<br /> (h) to set-off Grantor's Obligations against any amounts owed Grantor by Lender induding, but not limited to, monies, instruments, and deposit
<br /> acoourns meirriained with Lender or any currently existing or future affiliate of Lender;and
<br /> (i)to exercise all other rigMs available to Lender under any other written a�eemerrt or applicable law.
<br /> Lender's rights are cumulative and may be exerased together, separately, and in any order. In the event that Lender institutes an action seeking the
<br /> recovery oi any of the Properry by way of a prejudgmerrt remedy in an action againsi Grarrtor, Grantor waives the posting of any bond which migM
<br /> othervvise be required. Lender or Lender's designee may purohase the Property a1 any sale. Prooeeds of any Trustee's sale hereunder shall be applied
<br /> flrst,to the costs and expenses of exerdsing the power of sale and of the sale,induding the paymerrt of the Trustee's fees actually incurred and not to
<br /> exceed the amourrt which may be provided for in this Deed of Trust,second,to paymerrt of the Obligations seaued hereby,third,to the payment of junior
<br /> trust deeds,morlgages,or other Ifenholders,and the belance,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 rrpre exerases of the power herein grarned
<br /> shall not extinguish or exhaust the power unless the eMire 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 irrterest in the Property by exerase of the power of
<br /> sale herein corrtafned,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,Tnastee shall cause to be recorded,published and delNered such notices of defauft
<br /> and notioes 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 Grarnor,
<br /> after such time as may then be required by taw and after recordation of such notice of defaufl and aRer notice of sale having been given as required by Iaw,
<br /> sell the Property at the time and plaoe of sale flxed by ft in such notice of sale,either as whole or in seperate lots or paroels or ftems as Lender shall deem
<br /> expedierrt,and in such order as it may determine,at public auction to the hi�est bidder for cash in lawiul money of the Unfted States payable at the time of
<br /> saie,or as othervvise may then be required by Iaw. Trustee shall deliver to such purchaser or purchasers thereof its good and sufflaerrt deed or deeds
<br /> conveying the property so sold, but without any covenarrt or warranty, express or implled. The reatals in such deed of any matters or facts shall be
<br /> condusive proof of the truthfulness thereof. My person,induding,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 portion of the Property.
<br /> 19. RE�UEST FOR NOTICES: Orarrtor requests that a copy of any notice of defauft and a copy of any notice of sale hereunder be mailed to each person
<br /> who is a parly hereto at the address of such person set forth herein at the seme time and in the same menner required as though a separate request thereof
<br /> had been filed by each such person.
<br /> INEDOTC Rav.1297 Pap�3 d B
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