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<br /> 11. LENDER'S RIGHT TO COAAMENCE OR DEFEND LEGAL ACTIONS. Grarnor shall irm�ediately provide Lender wfth written notfce of any actual or
<br /> -threatened action,suit,or other proceeding affecting the Properry. Grantor hereby appoirrts Lender as its attomey-in-fact to oomrnence,irrtervene in,and
<br /> defend such actions,sufts,or other legal prooeedings and to compromise or settle any dalm or coMroversy pertaining thereto. Lender shall not be liable to
<br /> Grantor for any action,error,misteke,omission or delay pertaining to the actions described in this paragraph or any darnages resuRing therefrom. Nothing
<br /> wntained herein will preverrt Lender from taldng the actions descxibed in this paragraph in Rs own name.
<br /> 12 INDEMNIFICA710N. Lender shall not assume or be respcnsible for the pertormance of any of Grantor's obligations with respect to the Property under
<br /> any dreumstances. Grantor shall irm�ediately provide Lender wtth written notice of and indermify and hold Lender and its shareholders,directors,officers,
<br /> employees and agents harmless from all daims, darnages, Ifabilities (induding attomeys'fees and legal expenses), causes of action, actions, sufts and
<br /> other legal proceedings(cumulatively"Ciafms")pertalnfng to the Propeny(induding,but not limited to,those irnolving Hazardous Materials). Grarrtor,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 therewfth. In the altemative, Lender shall be ernitled to employ fts own legel counsel to detend such Claims at Grantor's cost. Grantor's
<br /> obligation to indermiy Lender under this paragraph shall survive the terMnation,release or foredosure of thls Deed of Trust.
<br /> 1S. TAXES AND ASSESSMENTS. Grantor shall pay all taxes and assessments relating to Property when due and imrnediately provfde Lender evidence
<br /> of paymerrt of same. Upon the request of Lender, Grantor shall deposit with Lender each morrth one-tweltth (1/12) of the estimated annual insurance
<br /> premium,taxes and assessmerrts pertaining to the Property. So long as there is no defauh,these amounts shall be applied to the paymertt of taxes,
<br /> assessmerrts and insurance as required on the Property. In the everrt of defauft,Lender shall have the rigM,at 1ts sole option,to apply the funds so held to
<br /> pay any taxes or against the Obligations. My funds applied may,at Lender's option,be applfed 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 exaMne and inspect the Property
<br /> and exarnine,inspect and rr�eke copies of Grarrtor'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 signatures and infortnation contained in Grantor's books and records shall be genuine,true,accurate and
<br /> oomplete In all respects. GraMor shall note the existenoe of Lende�'a benefldal irrterest in its books and reoords pertaining to the Property. Additionatly,
<br /> Grantor shall report,in a form satisfactory to lsnder,such infomiation as Lender may request regarding Grantor's finandal condftion or the Properry. The
<br /> Information 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 /> information fumished by Grantor to Lender shall be true,accurate and complete in all respects,and signed by Grantor if Lender requests.
<br /> 1b. ESTOPPEL CERTIFICATE3. Within ten(10)days after any request by Lender,Grentor shall deliver to Lender,or any(ntended transferee of Lender's
<br /> rights with respect to the Obligations,a signed and adviowledged statemerrt specifying(a)the outstanding balance on the Obligations;and(b)whether
<br /> Grantor possesses any daims,defenses,set-offs or courrterdaims with respect to the Obligations and,if so,the nature of such daims,defenses,set-offs or
<br /> cournerdalms. Grantor will be condusively bound by any represerrtation that Lender may meke to the intended transferee with respect to these matters in
<br /> the evern that Grantor fails to provide the requested statemerrt in a timely menner.
<br /> 16. DEFAULT. Grantor shall be in defauR under this Deed of Trust and the Trustee's power shall beoome operative in the everrt that Grantor,Borrower or
<br /> any guarantor of the Oblfgations:
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to perfoRn any Obligation or breaches any warranty or covenant to Lender contained in this Deed of Trust or any other present or future
<br /> agreemerrt;
<br /> (c) destroys,loses or darr�ages the Property in any material respect or subjects the Property to seizure,confiscation,or condermation;
<br /> (d) seeks to revoke,temilnate or otherwise Iimit Rs liabiliry under any guaranty to Lender,
<br /> (e) �es, becomes legally incompeterrt,is dissobed or terminated,becomes insolverrt,makes an assfgnmerrt for the beneflt of creditors,fafls to pay
<br /> debts as they become�e,flles a petttfon under the federal banlwptcy Iaws,has an involuntary petition in bankruptcy filed in which Grarrtor,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,transpoRation,or use of which,is illegal;
<br /> (g) allows any party other than Grantor or Borrower to assume or undertake any Obligation without the written consem of Lender;or
<br /> (h) causes Lender to deem itself insecure due to a significant dedine in the value of the Property;or if Lender,in good fatth,for any reason,believes
<br /> that the prospect of paymerrt or performence is impaired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a defauft under this Deed of Trust,Lender shall be errtitled to exerdse one or more of the following
<br /> remedies without notice or demend(except as required by law):
<br /> (a) to dedare the Obligations irtmediately due and payable in full;
<br /> (b) to collect the outstanding Obligations with or wfthout resorting to ju�dal prooess;
<br /> (c) to require Grarrtor to deliver and make aveflable to Lender any personal property or Chattels constituting the Property at a place reasonably
<br /> convenierrt to Grantor and Lender;
<br /> (d) to enter upon and take possession of the Property wRhout applying for or obtaining ihe appoirrtmBnt of a receiver and, at Lender's option,to
<br /> appoirrt a receiver without bond, without flrst bringing suit on the Obligations and wfthout otherwise meeting any statutory condhions regarding
<br /> reoeivers,it being irrtended that Lender shall have this oorrtractual rigM to appoirrt a receNer;
<br /> (e) to employ a managing agern of the Property and let the same,efther in Trustee's own nart�e,in the neme of Lender or in the name of Gramor,and
<br /> receive the rems,incomes,issues and proflts of the Property and apply the same,after paymern of all necessary charges and expenses,on accouM of
<br /> the Obligations;
<br /> (� to pay any sums in any form or menner deemed expedierrt by Lender to protect the securiiy of this Deed of Trust or to cure any defautt other than
<br /> paymerrt of irrterest or prindpal on the Obligations;
<br /> (g) to foredose this Deed of Trust judiaally or nonjudidally and to direct the sale of the property through exerdse of the power of sale as referenoed in
<br /> paragraph 20 hereof in acccordance with applicable Iaw;
<br /> (h) to set-off GraMor's Obligations against any amourrts owed Grantor by Lender induding, but not Iimited to, monies, instrumerrts, and deposit
<br /> axourrts meintained with Lender or any currerrtly exlsting or future afflliate of Lender;and
<br /> (i)to exerdse all other rigMs available to Lender under any other written agreemerrt or applicade law.
<br /> Lenders ri s are cumulatNe and may be exerdsed together, separately, and in any order. In the everrt that Lender institutes an action seeWng the
<br /> recovery o any of the Property by way of a prejudgmerrt remedy in an action against Grantor, Gramor waives the posting of any bond which migM
<br /> otherwise 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 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 secured hereby,third,to the paymerrt of junior
<br /> trust deeds,mortgages,or other Ilenholders,and the balance,if any,to the person or persons legally errtitled thereto. Theproperty or any part thereof may
<br /> be sold in one percel,or in such paroels,menner or order as Lender in its sole discretion may elect,and one or more exerdses of the power herein granted
<br /> shall not extinguish or exhaust the power unless the errtire properry is sold or the odigations are paid in full.
<br /> 18. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to aell Grarrtor's irrterest in the Property by exerdse of the power of
<br /> sale here(n corrtained,Lender shall notify Trustee in the menner then requlred by Iaw.
<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 defauft �
<br /> and noUces of sale as may then be required by Iaw and by ihis Deed of Trust. Trustee shall,only at the�rection of Lender and without demand on Orantor,
<br /> after such time as may then be required by law and after recordation of such notice of defauft 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 it in such notice of sale,either as whole or in seperate lots or parcels or ftems as Lender shall deem
<br /> expe�lerrt,and ln such order as ft may determine,at public auction to the highest bidder for cash in law(ul money of the Unfted States payable at the time of
<br /> sale, or as otherwise may then be required by law. Trustee shall delNer to such purchaser or purchasers thereof its good and sufflderrt deed or deeds
<br /> comeying the properry so sold, but wRhout any covenarrt or warranty, express or implied. The recitals in such deed of any rr�tters or facts shall be
<br /> condusive proof of the truthfulness thereof. My person,induding,wfthout IiMtation,Grantor,Trustee or Lender,may purchase at such sale. Trustee may
<br /> in the manner provided by Iaw postpone sele of all or any portion of the Property.
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<br /> 19. RE�iUEST FOR NO?10ES: GreMor requests that a copy of any noUce of default and a copy of any notice of sale hereunder be mailed 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 sarne menner requfred as though a separate request thereof
<br /> had been flled by each such person.
<br /> NEDOTC Rw.12l97 Pape3d8
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