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1'�. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTION �� S O o �O�
<br /> threAtaned action,sult,or other g• G�or shall irmiediately provide Lsnder wtth written notice of any actual or
<br /> proceeding affecting the Property. Grarrtor hereby appoirrts Lender as hs attomey-in-fact to cortrr�enoe,interoene in,and
<br /> defend such edions,sufts,or other legal proceedtngs and to comproMse or setUe any daim or corrtroversy pertaining thereto. Lender shall not be Ilable to
<br /> G�arrtor for any action,error,mistake,oMssion or delay pertaining to the actions described In this peragraph cr any darr�ega$resuning therefrom Nothing
<br /> oontained herein will preveM Lender irom taking the actlons described in this paravraph in Rs own name.
<br /> 12 INDEAANIFlCATION. Lender shall not assume or be responsible for the pertomiance of any of Grantor's odigations with respect to the Properry under
<br /> any dreumstances. Grantor shall irtrr�ediately provide Lsnder with written notice of and indermify and hold Lender and Rs shareholders,directors,offlcers,
<br /> employees and ageMs hamileas from all daims,damages, Ifabilfties(induding attomeys'fees and legal expenses),causea of actlon,actions, suits and
<br /> ihe r��o�r�shall hire��y^CI�����Nng to the Property(indudng,but not Iimited to,those irnolving Hazardous Materials). Grantor,upon
<br /> req� legal counsel to defend L.ender from such Clalms,and pay the attomeya'fees,legal expenses and other costs incurred in
<br /> connection therewfth. In the altemative, Lender shall be errtitled to employ its own tegai counsel to dafend such Claims at Grarrtor's oost. Grantor's
<br /> obllgetbn to Indermify Lender under this peragraph shaU survive the terMnation,release or foredosure of this Deed of Trust.
<br /> 13. TAXES AND ASSESSIIAENTS. Grazrtor shali pay all taxes and asaesamerrts relating to Property whan due and irrmediately provide I,.ender evidence
<br /> of paymern of same. Upon the request of Lender,Grantor shall deposit with Lender each morrth one-twelfth (1/12) of the estimated annual insurance
<br /> premium,taxes and assesaments pertaining to the Property. So long as there is no defauR,these amourrts shall be applied to the payment of ta�ces,
<br /> assessments and insurance as required on the Property. In the everrt of default,Lender shall have the right at its sole optlon,to apply the funds so held to
<br /> pey any taxes or against the Obltgations. My funds app�(ed may,at Lender's option,be applied in reverse order of the due date thereof.
<br /> 14. INSPECTION OF PROPERTY,BOOKS,RECORDS AND REPORTS. Grantor shall allow Lender or ftsaperrts to exaMne and inspect the Property
<br /> and examine,inspect and make oopies of Grantor's books and records partaining to the Property from�ma to Ume, Grantor shali provide any asslstance
<br /> required by Lendar br these purposes. All of the signatures and iMortnadon oorneined in Grantor's books and reoords shail be genuine.true,aocurate and
<br /> complete in all respects. Grantor shali note the existence of Lender's beneflaal irrterest in its books and records pertalning to the Property. Additionally,
<br /> Grarrtor shall report,in a form satisfactory to Lender,such information as Lender may request regarding Grantor's financial condition or the Property. The
<br /> Informatfon shall be for such periods,shall reflect Grarnor's records at such time,and shall be rendered with such frequency as Lender may designate. All
<br /> inforrrreUon fumished by Grantor to Lender shall be true,accurate and complete in all respects,and si�ed by Grarrtor if Lender requests.
<br /> 15. ESTOPPEL CER7IFICATE3. Within ten(10)days after any rec�est by Lender,Grantor shall deliver to Lender,or any irnended transferee of Lender's
<br /> rights with respect to the Obligatbns, a signed and adviowledged statemaM spedfying(a)the outatanding belanoe on the Obligations;anc!(b)whether
<br /> Grantor possesses any daims,defenses,set-offs or courrterdaims with respect to the Obligations and,if so,the nature of such dafms,defenses,set-offs or
<br /> cournerdaims. Grantor will be condusively bound by any represer►tat(on that Lender may make to the intended transferee with respect to theae matters in
<br /> the everrt that Crantor fails to provide the requested statemerrt in a timely menner.
<br /> 1B. DEFAULT. Grarrtor shall be in defauft under this Deed of Trust and the Trustee's power shall become operative in the evertt that Grarrtor,Borrower or
<br /> any guarantor of the Obligatfons:
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to pertortn any Obligation or breaches any warramy or oovenarrt to Lender contained in this Deed of Trust or any other preserrt or future
<br /> ��►tt:
<br /> (c) destroys,loaes or damages the Property in any material respeet or subjects the Property to seizure,conflscation,or condermaUon;
<br /> (d) seeks to revoke,terminate or otherwise limtt Rs liablltry under any guararny to Lender;
<br /> (e) dies,becomes legally incompeterrt, is dissoNed or terMnated, becomes insoberrt, makes an assignmsrrt for the beneflt of creditors,fails to pay
<br /> debts as they beoome due,flles a petition under the federal banlvuptoy Iaws,has an involuntary petfUon in banlwptcy flled in which Grarrtor,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 party other than Grantor or Borrower to assume or undertake any Obligation whhout the written conserrt of Lender;or
<br /> (h) causes Lender to deem ftself insecure due to a signlflcant dedine in the value of the Properry;or if Lender,in good faith,for any reaso�,believes
<br /> that the Prospect cf PaY�m�P��ce is impaired. as
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a defauh under this Deed of Trust,Lender shall be erttitled to exercise one or more of the following
<br /> remedies without notice or demand(except as required by law):
<br /> (a) to dedare the ObUgations Irtrr�ediately due and payable in full;
<br /> (b) to cdied the outstanding Obligations wilh or without rosortinp to judidal prooe�s;
<br /> (c) to require Graritor to deliver and meke availaWe to Lender anY P�e� ProP�Y or Chattels oonstltWng the Proparty at s plaoe roasonablY
<br /> convenierrt to Grantor and Lender;
<br /> (d) to errter upon and take possessfon of the Property without applying for or obtalning the appoirrtmerrt of a reoeiver and, at Lender's option,to
<br /> appoirrt a reoeiver whhout bond, without flrst bringing suit on the Obligations and without otherwise meeting any staturory conditions regarding
<br /> receNers,it being intended thffi Lender shall have this corrtractual rigM to appoirrt a receiver;
<br /> (e) to employ a menagtng agent of the Property and Ist the sarr�,either in Trustee's own name,in the name of Lender or in the name of Grantor,and
<br /> reoelve the reMs,incomes,issues and profits of the Property and apply the same,after paymern of al�necessary charges and expenses,on axourrt of
<br /> the ObligaUons;
<br /> (� to pay any sums in any form or manner deemed expedient by Lender to protect the security of this Deed of Trust or to cure any defauft other than
<br /> paymerrt of irrterest or prindpel on the Obligationa;
<br /> (g) to foredose this Deed of Trust judidally or nonjudidally end to direct the sale of the property throuyh exerdse of the power of sale as referenced 1n
<br /> peragraph 20 hereof in soxordence with applicabla Iaw;
<br /> (h) to set-off Grantor's Obligations against any arrburrts owed Grarrtor by l.ender induding, but not limited to, monies, instrumsrns, and deposit
<br /> acoourrts meintained with Lender or any currently exfsting or finure afflllate of Lender;and
<br /> (i)to exerdse all other rigMs avallable to Lender under any other written�reerr�nt or appl(cable law.
<br /> Lender's rl�hts are cumulative and may be exerdsed together, separately, and in any order. In the event that Lsnder fnstitutes an action seeldng the
<br /> ��e�o�any of the Property by way of a prejudgment rernedy in an action against Gramor, Grantor waives the postfng of any bond which migM
<br /> required. Lender or Lender's designee maypurchase the Property at any sale. Prooeeds of any Trustee's sale hereunder shall be applied
<br /> 8rst,to the costs and expenses of exerdsing the power of rale and of the sale,induding the paymerrt of the Trustee's fees actually incurred and not to
<br /> exosed the amouM which rrrey be provided for in thls Deed of Trust,seoond,to pa�m�ent of the Obligations secured hereby,third,to the paymerrt of junior
<br /> trust deeds,morigages,or other lienholders,and the balance,if any,to the person or persons legally errtitled thereto. Th properry or any part thereof may
<br /> be sold in one parcel,or in such parcels,manner or order as Lender in tts sole discretion may elect,and one or more exerdses of the power herein granted
<br /> shall not extinguish or exhaust the power unless the e►rtire properry is sold or the odigetlons are peid in full.
<br /> 18. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT: If Landar elacts to sall Grantor's Intanst In the Proparty by axardse of the power of
<br /> sale herein cornained,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,pubUshed and delivered such notices of defauR
<br /> and notioes of sale as may then be required by Iaw and by this Deed of Trust. Trustee shall,only at the direction of Lender and wfthout demand on Grantor,
<br /> after such�me 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 law,
<br /> sell the Property at the time and place of sale flxed by ft in such notice of sale,efther as whole or inseparate lots or paroels or items as Lender shall deem
<br /> expedferrt,and in such order as ft may determine,at pubik auction to the highest bidder for cash in la uwf I mone of the United States
<br /> saie or as otherwise ma then be Y PaYable at the time of
<br /> comeying the y required by law. Trustee shall deliver to such purchaser or purchasers thereof its good and suffldern deed or deeds
<br /> properry so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be
<br /> condusNe proof of the truthfutneas thereof. Myperson,induding,wfthout Urt�itation,Grantor,Trustee or Lender,may purchase at such sale. Trustee may
<br /> in the manner provicied by law postpcne sale of all or any portion of the Properry.
<br /> 1�. REGUEST FOR NOTiCES: Grantor requests that a copy of any noUce of defeutt and a copy of any notice of sale hereunder be mefled to each perao�
<br /> who is a party hereto at the address of such person set forth herein at the same time and(n the same manner requlred as though a seperate request thereof
<br /> had been flled by each such person.
<br /> NEDOTC R�v.t?l87
<br /> Pap�B d 8
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