|
. . . . 99 108140
<br /> 20. SECURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be oonsidered and be effective as a finandng
<br /> statemern and a fixture filing pursuarrt to the provisions of the Unifortn Commerdal Code (as adopted in the state where the real property is located)
<br /> covering flxlures,chattels,and artides ofpersonal property now owned or hereafter attad�ed to or to be used in connection with the Property together wfth
<br /> any and all replacemeMs thereof and additions thereto(the"Chattels"),and Grantor hereby grants Lender a security irrterest in such Chattels. The debtor is
<br /> the Grarrtor described above. This Deed of Trust wlll be effectNe as a flnandng statement flled as a flxture flling with respect to all flxtures induded within
<br /> said prert�ises and is to be flled for record In the real estate records of each courny where any pert of said premises(indu�ng said flxtures)is situated. This
<br /> Deec�of Trust shall also be effectNe as a finandng statement covering any other prert�ises and may be flled fn any other appropriate flling or recorc�ng
<br /> offlce. A carbon,photographic or other reproduction of this Deed of Trust or of any flnandng statemeM relating to this Deed of Trust shall be suffldeM as a
<br /> flnandng statemard for any of the purposes referced to in this Paragraph. The secured party is the Lender described above. Upon demand,Grantor shall
<br /> rnake, execute and deliver such seaiirity agreemerrts (as such tertn is deflned in said Uniform Corrrnerdal Code) as Lender at any Ume may deem
<br /> neoessary or proper or required to grant to Lsnder a pertected securfty irrterest in the Chattets,and upon Grantor's faliure to do so,Lender is authorized to
<br /> sign any such�reemerrt as the agerrt of Grantor. Grantor hereby authorizes Lender to flle flnandng statements(as such term fs deflned in said UNform
<br /> CoRrr�dal Code)with respect to the Chattels,at any time,without the si�ature of Grantor. Grantor will,however,at any time upon request of Lender,
<br /> si�such flnandng statements. C3rantor will pay ali flling fees for the flling of such flnancing statements and for the refiling thereof at the times required,in
<br /> the opinion of Lender,by seid UniMrm Commerdal Code. If the Ilen of this Deed of Trust be subject to any security agreernerrt covering the Chattels,then
<br /> in the everrt of any default under this Deed of Trust,atl the rlgM,tiUe and IMerest of Grarrtor in and to any and all of the Chattels is hereby assigned to
<br /> Lender,tcgether with the beneflt of any deposits or psymerrts now or hereatter made thereof by Grarrtor or the predecessors or suxessors in tiUe of
<br /> Grantor in the Property.
<br /> 21. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender,at Lender's optfon,may expend tunds(induding attomeys'fees and legal
<br /> expenses)to perfortn any act required to be taken by Grantor or to exerdse any rigM or remedy of Lender under this Deed of Trust. Upon demend,Grantor
<br /> shall imnediately refmburse Lender for all such amourrts expended by Lender together with irrterest thereon at the lower of the highest rate desaibed in any
<br /> Obifgation or the highest rate allowedby Iaw from the date of paymerrt urrtll the date of reimbursemem. These sums shall be induded in the defin�ion of
<br /> Obligaadons herein and shall be secured by the benefldal interest ranted herefn. If the Obligations arep�d atter the beginning of publicatfon of notioe of
<br /> sale as herein provided,or in the everrt Lender shall,at its sole optgion,pemit Grantor to pey eny pert of the ObligaUons after the beginning of publicatlon of
<br /> notice of sale,as herein provided,then,Grarrtor shall pay on demend all expenses incurred by the Trustee and l.ender in connecdon with said publication,
<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 shall be
<br /> securiry for all such expenses end fees.
<br /> 22 APPLICATION OF PAYMENT8. 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,indu�ng thepaymerrt of the Trustee's fiees actually incurred not to exceed the amourrt which may be provided for in the Deed of Trust,
<br /> second,to paymeM of the odigation secured by the Deed of Trust,third,to the paymerrt of junior deeds of trust,mortgages or other Ifenholders,and the
<br /> balance,if any,to the person or persons legally errtitled thereto.
<br /> 23. POWER OF ATTORNEY. Grantor hereby frns Lender as fts attomey-in-fact to endorse Grarrtor's name on all instrumerrts and other documents
<br /> pertaining to the Obligatfons or Deed of Trust. n addition, Lender shail be errtiGed, but not required,tope rtorm an action or execute any document
<br /> required to be taken or executed by Grantor under this Deed of Trust. Lender'sperfo m�ance of such action or exeaition of auch documerrts shall not
<br /> relieve Grantor from any Obligation or cure any defauft under this Deed of Trust. AIf powers of attomey described in this Deed of Tn�st are coupled with an
<br /> irrterest and are irrevocsble.
<br /> 24. SUBROGATION OF LENDER. Lender shall be subrogated to the rigMs of the holder of any previous Ifen, security Interest or encumbrance
<br /> discherged with funds advanoed by Lender regardless of whether these liens,security iMerests or other encumbrances have been released of record.
<br /> 2a, CpI.LECTION�O�TS. To the exterrt pem�tted'uy Iaw,Grantor agrees to y Lender's reasonable fees and costs,induding,but not Iimited to,fees
<br /> and costs of attomeys and other agerrts (induding without limftation perelegal�a,�derks and consultants), whether or not such attomey orage rrt is an
<br /> employee of Lsnder,whfch are incurred by Lender in collecting any amourrt due or enforang any ri�or remedy under this Deed of Trust,whether or not
<br /> suft is brougM,Induding,but not Iimited to,all fees and costs incurred on appeal,in banlwptcy,and or post-judemerrt wllection actions.
<br /> 26. PARTIAL RELEASE. Lender may release Its Irderest In apo rtion of the Property by executing and recording one or more Partial Deeds of
<br /> Reoorneyance wRhout affecUng its irrterest in the remeining portion of the Property. Nothing herein shall be deemed to obligate Lender to release any of fts
<br /> irrterest in the Property(exoept as required under P�aph 38 or as may be otherwise required by Iaw),nor shall Lenderbe obligated to release any part
<br /> of the Properry if Grantor is in default under this Deed of 7rus1. The lien and secu�ty irrterest created by the Deed of Trust remain in effect with respect to
<br /> thed portion of the property,as deflned In the Deed of Trust,that ia not the aubject of this or any Partfal Deed of Recorneyance
<br /> 27. MODIFlCATION AND WAIVER. The modification or waiver of any of Grantor's Obligations or Lender's rigMs 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 Obligations,delay or fafl to exerdae any of fls rigMs or aocept
<br /> payments from Grantor or anyone other than GraMor without caus�ng a waNer of those Obligations or rigMs. A waiver on one occasion shall not constitute
<br /> a waNer on any other oa�sion. Grantor's Obli lons under this Deed of Trust shall not be affected if l.ender emends,cor�promises,exchan s,fails to
<br /> oa
<br /> exerdse,impairs or releases any of the Obl ons belonging to any Grarrtor,Borrower or third perty or any of its rlgMs agalnst any Grarrtor, rrovuer or
<br /> third peRy or any of the Property. Lender's failure io insist upon strict perfom�ence of any of the Obligatfons shall not be deert�ed a waiver and Lender shall
<br /> have the rigM at any time thereaRer to insist upon strict pertom�ence.
<br /> 28. SUBSTITUTE TRUSTEE;TRU8TEE LIABIUTY;COMPENSATION. In case of the death,inabiliry refusal to act or absenoe of the Trustee from the
<br /> state where the real property fs located or in case the holder of the Obligations shall desire for any reason to remove the Tn�stee or any substitute trustee as
<br /> trustee hereunder and to appoirrt a new trustee in his place and stead the holder of the Obligations is hereby granted full power to appoirrt in writing a
<br /> substftute trustee for said Trustee,and the su�thute trustee shall,when appolnted,become suocessor to all rigMs of Trustee hereunder and the same shall
<br /> beoome vested in him for the purposes and objects of this Deed of Trust with all thepow er,duties and obligations herein oonferred on the Trustee. Trustee
<br /> shall not be liable for any error of jud�merrt or act done by Trustee, or be otherwise responsible or aocourttable under any dreumstances whalsoever.
<br /> Trustee shall not be personally liable�n case of ernry by it or anyone acting by vMue of the powers herein granted ft upon the Deed of Trust for debts
<br /> contracted or tiabllity or�p�s incurred in the menagement or operation of sald premises. Trustee shall have the rigM to rel on any instrumerrt,
<br /> document or signature authorizing or supporting any a fon takan orproposed to be taken by R hereunder or believed by it in fafth to be genuine.
<br /> Trustee shall be errtided to reimbursemerrt for e ses incurred by it in the perfomience of its duties hereunder and to reason e compensation br such
<br /> of its services hereunder as shall be rendered.�rantor will,from Ume to time,pay compensation due Trustee hereunder and reimburse Trustee for and
<br /> save and hold it hamiless irom and against any and all loss,cost,Ilabiliry,damage and expense whatsoever incurred by it in the pertormance of its duties.
<br /> All moneys received by Trustee shall,urrtil used or appiled as herein provided,be held in trust for thepurposes for which they were receNed,but need not
<br /> be segregated in any manner from any other moneys(except to t�e exterrt required by Iaw)and Trustee shall be under no Uabiliry br irrterest on any
<br /> moneys received by it hereunder.
<br /> 29. SUCCESSORS AND ASSIGNS. This Deed of Trusi shall be binding upon and inure to the benefit of Grarrtor and Lender and their respective
<br /> suxessors,assigns,trustees,receivers,administrators,personal represeMatives,legatees and devisees.
<br /> 30. NOTICES. Except as otherwise required by law,any notice or other cortmmication to be provided under this Deed of Trust shall be in writing and sern
<br /> to the parties at the addresses descxibed in this Deed of Trust or such other address as the perties ma designate In writing from time to tims. My such
<br /> notioe so�ven and serrt bY first dass meil,postage prepaid,shall be deemed given the earlier of three�3)days after such notice is serrt or when received
<br /> by the person to whom sud�notice is being given.
<br /> 31. SEVERABILITY. Whenever possible,each provision of this Deed of Trust shall be irrterpteted so as to be effectNe and valid under applicable state
<br /> law. If any provision of this Deed of Truat violates the law or is unenforceable,the rest of the Deed of Trust shall corrtinue to be valid and enforceable.
<br /> 92 APPLICABLE LAW. This Deed of Trust shall be govemed by the Iaws of the state where the real properry is located. Unless applicable Iaw provides
<br /> otherwise,Grantor conserrts to the ju�isdiction and venue of any court selected by Lender,in fts sole discretion,located in that state.
<br /> S3. MISCELLANEOUS. Grarrtor and Lender agree that time is of the essence. Grantor walves preserrtmem,demand for paymerrt,notice of dishonor and
<br /> protest except asrequ Ired by Iaw. All references to Grantor in this Deed of Trust shall indude allpersons signing below. If there is more than one Grantor,
<br /> thefr Obligations shall be p' irrt and several. This Deed of Trust represerrts the complete irrtegrated understanding between Grantor and Lender pertaining to
<br /> the tem�s and conditions hereof.
<br /> 94. NO THIRD PARTY RIGHTS. No person is or shall be a third perty beneflaary of anyprovision of this Deed of Trust. All provialons of this Deed of
<br /> Trust fn favor of Lender are intended solely for the benefit of Lender,and no third party shall be eMitled to assume or expect that Lender will not wafve or
<br /> conserrt to the modiflcatfon of any provision of this Deed of Trust,in Lender's sole dfscretion.
<br /> 36. PRESERVA710N OF LIABILITY AND PRIORITY. Without affecting the Ilabiliry of Borrower,Grantor,or any guarantor of the Obligations,or any other
<br /> person(except a person expressly released in writins�)for the paymerrt andpertormence of the Obligationa,and without affecting the riyhhts of Lender wfth
<br /> resped to any Property not expressly released in wrring,end without impeirfng in any way the priority of this Deed of Trust over the irrtereat of a�ny person
<br /> acquired or flrst evidenced by recording subsequerrt to the recording of this Deed of Trust,Lender may,efther before or after the maturiry of the Obifgations,
<br /> and wRhout notice or conaent:release any person liable forpaymeM or pertortr�enoe of all or any part of the Ob1lgaUons;make anyagreement altering the
<br /> terms of paym�rrt orperfom�enoe of all or any part of the Obligatfons;exerdse or refraln from exerdsing or waive any�or rert�edy that Lender may have
<br /> under the Deed of Trust;axept additional securfty of any Idnd for any of the Obligetions;or release or othervvise with any real or personal property
<br /> secu�ing the Obligatlons. Any peraon acquiring or recor�ng evidence yf any irrt�eres�of�nature in the Property shall be deemed, by acquiring sucfi
<br /> Imerest or reoor�ng arry evidenoe thereof,to have conserrted to all or an such
<br /> i e�...e
<br />
|