|
99 108212
<br /> 2Q SECURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE This Deed of Trust shall be considered and be effective as a finanang
<br /> statemerrt and a flxture filing pursuant to the provisions of the Uniform Cortmerdal Code (as adopted in the siate where the real property is located)
<br /> covering flxtures,chattels,and arddes of personal property now owned or hereafter attached to or to be used in connectfon wfth the Property together with
<br /> any and all replacements thereof and additions thereto(the"Chattels"),and Grantor hereby grants Lender a securiy irrterest in such Chattels. The debtor is
<br /> the Grantor described above. This Deed of Trust will be effective as a financing statement flled as a fixture filing with respect to all fixtures induded within
<br /> said premises and is to be flled for record in the real estate rerards of each county where any part of said premises(induding said flxtures)is situated. This
<br /> Deed of Trust shall also be effective as a finandng statemerrt covering any other prerNses and may be filed in any other appropriate flling or recording
<br /> offios. A carbon,photographic or other reproductlon of this Deed of Trust or of any$nandng statemem relating to this Deed of Trust shall be sufflaerrt as a
<br /> finandng statemertt for any of the purposes referred to in this Paragraph. The secured perty is the Lender described above. Upon demand,Grarrtor shall
<br /> meke, execute and dellver such security agreements (as such term fs defined in said Uniform Comr�rdal Code) as Lender at any time may deem
<br /> necessary or proper or requfred to grant to Lender a perfected securtty irrterest in the Chattels,and upon Grantor's failure to do so,Lender is authorized to
<br /> si�any such agreemerrt as the agent of Grarrtor. Grantor hereby authorizes Lender to flle flnandng statemerrts(as such term is deflned in said Uniform
<br /> Comnercial Code)wfth respect to the Chattels,at any Ume,without the signature of Grarrtor. Grantor wfll,however,at any time upon request of Lender,
<br /> tF�e opi on of Lender,by said UniGfor�moCrowil�y��l fll�in�g feethe lien oflthis�Deed of Trustnb9e suti merrts and for the reftiing thereof at the times required,in
<br /> in the everrt of an default under this Deed of Trust,all the �to�y������rn�ering the Chattels,then
<br /> y rigM,tftle and irrterest of Grarrtor in and to any and all of the Chattels is hereby assigned to
<br /> Lender,t er with the beneflt of any deposits or paymerrts now or hereafter made thereof by Grantor or ihe predecessors or suocessors in title of
<br /> Grantor in e Property.
<br /> 21. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender,at Lender's option,may expend funds(induding attomeys'fees and legal
<br /> expenses)to perfoRn any act required to be taken by Grantor or to exerdse any�igM or remedy of Lender under this Deed of Trust. Upon demand,Grarrtor
<br /> shall irtmedfatety reimburse Lender for all such amounts expended by Lender together with irrterest thereon at the lower of the highest rate described in any
<br /> Obligatlon or the hf�est rate allowed�y law from the date of paymeM urrtil the date of reimbursemerrt. These sums shall be induded in the definftion of
<br /> Obligations herefn and shall be secured by the benefidal irrterest granted herein. If the Obligations are pald after the beginning of publication of notice of
<br /> sale,as here(n provided,or in the everrt Lender shall,at its sole option,pemit Grantor to pay any part of the Obligations after the begfnning of public�tfon of
<br /> notice of sale,as herein provided,then,Grarrtor shall pay on demend ail expenses incurred by the Trustee and Lender in connection wfth said publication,
<br /> induding reaaonable attomeys'fees to the attomeys for the Trustee and for the Lender,and a reasonable fee to the Trustee,and this Deed of Tn�st shall be
<br /> securfty for all such expenses and fees.
<br /> 22 APPLICATION OF PAYMENTS. The Trustee shall�y the proceeds of the trustee's sale,first,to the costs and expenses of exercislng the power of
<br /> sale and of the sale,induding thepaymerrt of the Trustee's ees actually incurred not to exceed the amourrt which may be provided for in the Deed of Trust,
<br /> second,to payrt�errt of the obligation secured by the Deed of Trust,third,to the paymeM of junior deeds of trust,mortgages or other lienholders,and the
<br /> balance,if any,to the person or persons legally errtitled thereto.
<br /> 23. POWER OF ATTORNEY. Graritor herebyappoiMs Lender as its attomey-in-fact to endorse Grantor's name on all instrumerrts and other documents
<br /> pertaining to the ObUgatfons or Deed of Trust. In addition, Lender shall be errt�led, but notrequired,tope rtorm any action or execute any documerrt
<br /> required to be taken or exearted by Grarnor under this Deed of Trust. Lender'spe rformance of such action or execution of such documerris shall not
<br /> retieve Grantor from any Obligatlon or cure any defauft under this Desd of Trust. Alf pwers of attomey described in this Deed of Trust are coupled with an
<br /> Irrterest and are irrevocable.
<br /> 24. SUBROGA710N OF LENDER. Lender shall be subrogated to the rigMs of the holder of eny previous Ilen, security irnerest or encumbrance
<br /> dscharged wfth funds advanced by Lender regardless of whether these Ilens,securiry irrterests or other encumbrances have been released of record.
<br /> 2b. COLLECTION COSTS. To the exterrtpemlttedby law,GraMor agrees to y Lende�'s reasonable fees and costs,indud(ng,but not limited to,fees
<br /> and costs of attomeys and other agems (fnduding whhout 1lmitation paralegals�, derks and consuftarrts), whether or not such attomey oragerrt is an
<br /> employee of Lender,which are incurred by Lender in collecting any amourrt due or enfordng any�igM or remedy under this Deed of Trust,whether or not
<br /> suft is brougM,induding,but not Umtted to,all fees and wsts IncuRed on appeal,in banlwptcy,and for post-judgment collection actions.
<br /> 26. PARTIAL RELEASE. Lender may release its irrterest in apo rtion of the Property by executing and recording one or mcre Partial Deeds of
<br /> Recorneyance wfthout affecting fts irrterest in the remaining portion of the Property. Nothing herein shall be deemed to obligate Lender to release any of its
<br /> irrterest in the Property(except as requfred under Paragraph 38 or as may be otherwise required by law),nor shall Lender be obligated to release any part
<br /> of the Property ff Gramor is in defautt under this Deed of 7rust. The lien and sea�riiy iMerest created by the Deed of Trust remain in effect with respect to
<br /> that portion of the property,as deflned in the Deed of Trust,that is not the subject of this or any Partial Deed of Recomreyance
<br /> 27. MODIFICATION AND WAIVER. The modiflcaUon or waiver of any of Grantor's Obligations or Lender's rigMs under this Deed of Trust must be
<br /> corrtained in a writing signed by Lender. Lsnder may perform any of Borrower's or Grantor's Obligations,delay or fail to exerdse any of fts rfghts or aocept
<br /> payFnerrts from Grantor or arryone other than Grantor without causing a waiver of those Obiigations or rigMs. A wahrer on one occasion shall not constitute
<br /> a waiver on any other occasion. Grantor's Obligations under this Deed of Trust shall not be affected if�Lender amends,compromises,exchanges,fails to
<br /> exerdse,impefrs or releases any of the Obligations belonging to any Grarrtor,Borrower or thirdparty or any of its rigMs against any Grantor,Borrrnver or
<br /> third paAy or any of the Property. Lender's failure to insist upon strlct pertomience of any of the Obli-gations shall not be deemed a waiver and Lender shall
<br /> ha�e the►igM at any time thereafter to insist upon strict performance,
<br /> 28. SUBSTiTUTE TRUSTEE;TRUSTEE LIABILITY;COMPENSA710N. In case of the death,inabilfry,refusal to act or absenoe of the Trustee from the
<br /> state where the real property is located or in case the holder of the Obligations shall desire for any reason to remove the Trustee or any substitute trustee as
<br /> trustee hereunder and to appoint a new trustee in his plaoe and stead,the holder of the Obligations is hereby granted full power to appoirrt in writing a
<br /> substttute trustee for said Trustee,and the substitute trustee shall,when appoirrted,become suxessor to all rigMs of Trustee hereunder and the sart�e shall
<br /> becoms vested in him for the purposes and objects of this Deed of Trust wfth all thepower,duties and odigations herein oonferred on the Trustee. Trustee
<br /> shalt not be Uable for any error of�ud��ent or act done by Trustee, or be othervvise responsible or a000untable under any dreumstances whatsoever.
<br /> Trustee shall not be personally Ilable in case of errtry by it or anyone ading by virtue of the powers herein�ar�ted it upon the Deed of Trust for debts
<br /> contracted or Ilabiliry or s incurred in the menagemerrt or operation of said premises. Trustee shall have the ri�to rely on any instrument,
<br /> documeM or sl�ature authori ng or supporting any actfon taken orproposed to be takan by It hereunder or believed byit in good faith to be genuine.
<br /> Trustee shall be errtitled to reimbursemerrt for expenses incurred by it in the performanoe of its duUes hereunder and to reasonable compensation for such
<br /> of its servioes hereunder as shall be rendered. Grantor will,from tfine to time,pay compensation due Trustee hereunder and reimburse Trustee for and
<br /> save and hold 1t hermless from and against any and all loss,cost,IfaWlity,darnage and expense whatsoever incuRed by it in the pertormance of fts duties.
<br /> All moneys received by Trustee shall,urrtil used or appUed as hereinpro vided,be held in trust for thepurposes for which they were reoehred,but need not
<br /> be segregated in any menner from any other moneys (except to the exteM required by Iaw) and Trustee shall be under no Ilability for irrterest on any
<br /> moneys reoeived by it hereunder.
<br /> 29. SUCCESSORS AND ASSIGNS. This Deed of Trust shall be binding upon and inure to the benefit of Grantor and Lender end their respective
<br /> suxessors,assigns,trustees,tecefvers,administrators,personal represerrtatNes,legatees and devisees.
<br /> 90. NOTICES. Except as othervvise required by law,any notice or other cormunication to be provided under this Deed of Trust shell be In writing and serrt
<br /> to the parties at the addresses described in this Deed of Trust or such other address as the parties ma designate in writing from tirr�to time. Any such
<br /> notice so gNen and sent bv flrst dass mail,postage prepeid,shall be deemed given the earlier of three�3)days after such notice Is sent or when received
<br /> by the person to whom suc}�notice is being given.
<br /> 91. SEVERABILITY. Whenever possible,each provision of this Deed of Trust shall be irrterpreted so as to be effectbe and velid under applicable state
<br /> law. If any provision of this Deed of Trust violates the Iaw or is unenforceable,the rest of the Deed of Trust shall corrtinue to be valid and enforoeable.
<br /> 32 APPLICABLE LAW. This Deed of Trusi shall be govemed by the Iaws of the state where the real property is located. Unless applicable law provides
<br /> otherwise,Grantor conserrts to the jurisdictlon and venue of any court selected by Lender,in fts sole dfs�xetion,located in that state.
<br /> 33. IYpSCELLANE0U3. Grantor and Lender agree that time is of the essence. Grantor walves presentment,demand for paymerrt,notice of dishonor and
<br /> thetest exoept asrequired Iaw. Alt references to Grantor in this Deed of Trust shall indude all persons sfgning below. If there is more than one Grarnor,
<br /> ir Obligat(ons shall be joirrt and several. Thfs Deed of Trust represerns the complete irnegrated understanding between Grantor and Lender pertaining to
<br /> the terms and condfdons hereof.
<br /> 34. NO 7HIRD PARTY RIGHTS. No person is or shall be a third party benefiaary of any prOVision of this Deed of Trust. All prov(sions of this Deed of
<br /> Trust in favor of Lsnder are irrtended solely for the beneflt of Lender,and no third party shall be errtitled to assume or expect that Lender will not waive or
<br /> conserrt to the rt�flcatlon of any provislon of this Deed of Trust,in Lender's sole discretion.
<br /> 36. PRESERVATION OF LIABILITY AND PRIORITY. Wrthout affecting the liability of Borrower,Grarttor,or any guarantor of the Obligations,or any other
<br /> person(except a person expressly released in writin g)for the pe nt andperformenoe of the Obligatlons,and without affecting the rigMs of Lender wfth
<br /> respect to any Properry not expressly released in wrtting and�impeirfng in any way the priority of this Deed of Trust over the irrterest of a� ny person
<br /> a�ired or flrst ewdenoed by recording subsequerrt to the recording of this Deed of Trust,Lender may,either before or aRer the maturity of the Obligations,
<br /> and without notice or oonsent:release any person Ilabie forpaymerrt or pertormance of all or any part of the Obligations;meke anyagreement altering the
<br /> tem�s of pe�orperformanoe of all or any part of the Obfigations;exerdae or refrain from exerdsing or waive any ri M or remedy that Lender may have
<br /> under the eed of Trust;axept additional security of any Wnd for any of the Obligations;or release or otherwise�wfth any real or rty
<br /> secu�ing the ObilgaUons. My person acx�iring or recor�ng evfdence of any interest of any nature in the Property shall be deemed, ������cf�
<br /> irrterest or recording any evidence thereof,to have conaemed to all or any sucfi actfona by Lender. bY�luiring su
<br />
|