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99- 1Gsss�
<br /> 11, LENDER'S RIGHT TO CONqIAENCE OR DEFEND LEGAL ACT10N3. Grantor shall irm�ediately provide Lender whh written notice of any actual or
<br /> threatened action,suit,or other prooeeding affecting the Property. Grantor hereby appoirrts Lender as its attomey-in-fact to oorrmence,intervene in,and
<br /> defend such actions,suhs,or other legel proceedings and to compromise or settle any daim or controversy pertaining thereto. Lender shall not be Ifable to
<br /> GraMor for any action,eROr,mistake,omission or delay pertainin�to the actions described in this paragraph or any damages resuhfng therefrom. Nothing
<br /> contained herein will preverrt Lender from ialdng the actions descnbed in thia paragraph in its own name.
<br /> 12 INDEMNIFICA710N. Lender shall not assume or be responsible for the perfomiance of any of Grantor's obligations whh respect to the Property under
<br /> any arcumstanoes. Grantor shall irm�ediately provide Lender with written notice of and indemnify and hold Lender and its shareholders,directors,offioers,
<br /> employees and agents harmless from all daims, damages, Ifabiltties(induding attomeys' fees and legal expenses), causes of aclfon, actions, suhs and
<br /> other legal procee�ngs(cumulatively"Claims")pertaining to the Property(induding,but not limited to,those involving Hazardous Materials). Grantor,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 fncurred in
<br /> connection therewith. In the attemative, Lender shall be errtftled to employ tts own legal counsel to defend such Clalms at Grarnor's cost. Grarnor's
<br /> obligation to indermity Lender under this paragraph shall survive the termination,release or foredosure of this Deed of Trust.
<br /> 13. TAXES AND ASSESSMENT3. Grantor shall pay all taxes and assessmerrts relaiing to Property when due and imrnediately provide Lender evidence
<br /> of peyment of same. Upon the request of Lender, Grentor shall deposit with Lender each morrth one-twelfth (1/12) of the estimated annual insurance
<br /> premium, taxes and assessments pertaining to the Property. So long as there is no defauft, these amourrts shall be applied to the payment of taxes,
<br /> assessmems and insurance as required on the Properry. In the eveM of defauft.Lender shall have the rigM,at fts 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 applied in reverse order of the due date thereof.
<br /> 14. INSPECTION OF PROPERTY,BOOKS,RECORDS AND REPORT8. Grentor shall allow Lender or its agents to examine and inspect the Property
<br /> and examine,inspect and meke copies of Grantor's books and records pertaining to the Properry from tima to time. Gramor shall provide any assistance
<br /> required by Lender for these purposes. All of the signatures and information contafned in Grantor's books and records shall be genuine,true,aaxuate and
<br /> complete in all respects. Grantor shall note the existence of Lender's benefldal imerest in its books and records pertafning to the Property. Additfonally,
<br /> Grantor shall report,in a form satisfactory to Lender,such fnformation as Lender may request regarding Grantor's finandal condition or the Property. The
<br /> infomietion shall be for such periods,shall reflect GraMor's records at such time,and shall be rendered with such frequency as Lender may designate. All
<br /> infom�atfon fumished by Grantor to Lender shall be true,axurate and complete in all respecls,and signed by Grarrtor if Lender requests.
<br /> 15. ESTOPPEL CERTIFICATES. Within ten(10)days after any request by Lender,Grantor shall delNer to Lender,or any irrtended transferee of Lender's
<br /> rigMs with respect to the Obligations,a si�ed and adviowledged statemerrt specifying(a)the outstanding belance on the Obligations;and(b)whether
<br /> Grantor possesses any daims,defenses,set-offs or courrterdaims wfth respect to the Obligations and,if so,the nature of such dalms,defenses,set-offs or
<br /> cournerdaims. Grantor will be condusively bound by any represerrtation that Lender may make to the irrtended transferee wfth respect to these matters in
<br /> ihe event that Grantor fails to provide the requested statement in a timely menner.
<br /> 16. DEFAULT. Grarrtor shall be in default under this Deed of Trust and the Trustee's power shall become operative in the everrt that Grantor,Borrower or
<br /> any guarantor of the Obiigations:
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to perfoRn any Obligation or breaches any warranty or covenarrt to Lender contained in this Deed of Trust or any other preserrt or future
<br /> agreemerrt;
<br /> (c) destroys,loses or damages the Property in any material respeci or subjects the Property to seizure,confiscation,or condermation:
<br /> (d) seeks to revoke,temiinate or otherwise limit its liabiliry under any�aranty to Lender;
<br /> (e) dies,becomes legally inoompeterrt,is dissolved or terminated,becomes insoNern,makes an assignmerrt for the benefit of creditors,fails to pay
<br /> debts as they become due,flles a petition under the federal banlwptcy laws,has an involuntary petition in banlwptcy flled 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,transportation,or use of which,is illegal;
<br /> (g) allows any party 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 significant dedine in the value of the Property;or if Lender,in good faith,for any reason,believes
<br /> that the prospect of payment or performenoe is imp�ired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a defauR under ihis Deed of Trust, Lender shall be errtitled to exerase one or more of the following
<br /> remedies without notioe 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 without resorting to judiaal process;
<br /> (c) to require Grarnor to delNer and make available to Lender any personal property or Chattels constituting the Properry at a place reasonably
<br /> comeniem to Grarnor and Lender;
<br /> (d) to erner upon and take possession of the Property without applying for or obtaining the appoirnmerrt of a recefver and, at Lender's option,to
<br /> appoirrt a receiver without bond, without first brin�ng suft on the Obligations and without otherwise meeting any statutory conditions regarding
<br /> receivers,it being irrtended that Lender shall have this coMractual rigM to appoiM a receiver;
<br /> (e) to employ a mana�ng agem of the Property and let the same,efther in Trustee's own name,in the name of Lender or fn the name of Grantor,and
<br /> receNe the rerrts,inoomes,issues and proflts of the Property and apply the same,after paymerrt of all necessary charges and expenses,on acxourn 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 /> paymem of irrterest or prindpal on the ObUgations;
<br /> (g) to foredose this Deed of Trust judidally or nonjudidally and to dfrect the sale of the property through exerdse of the power of sale as referenced in
<br /> paragraph 20 hereof fn acocordance with applicable law;
<br /> (h) to set-off Grantor's Obligations against any amourrts owed Grantor by Lender induding, but not limited to, monies, instrumerrts, and deposit
<br /> axouMs meirrtained with Lender or any currently existing or future affiliate of Lender;and
<br /> (i)to exerdse ail other rigMs available to Lender under any other wrftten agreemerrt or app►Icable law.
<br /> Lender's rights are cumulative and may be exercised together, separately, and in any order. In the event that Lender institutes an action seeking the
<br /> recovery of any of the Property by way of a prejudgment remedy in an action agafnst Gramor, Grantor wafves the posting of any bond which migM
<br /> othervvise be required. Lende�or Lender's designee may purchase the Properry at any sale. Proceeds of any Trustee's sate hereunder shall be applied
<br /> first,to the costs and expenses of exercising the power of sale and of the sale,induding ihe paymerrt of the Trustee's fees actually incurred and not to
<br /> exoeed the amourn which may be provided for in this Deed of Trust,second,to paymern of the Obligations sea�red hereby,third,to the paymem of junlor
<br /> trust deeds,mortgages,or other Ifenholders,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 percels,menner or order as Lender in ks sole discretion mey elect,and one or more exercises of the power herein granted
<br /> shall not extinguish or exhaust the power unless the ernire 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 exercise of the power of
<br /> sale herein corrtained,Lender shall notify Trustee in the manner then requfred by law.
<br /> Upon recefpt of such notice of Lender and at the�rection of Lender,Trustee shall cause to be recorded,published and delNered such notices of default
<br /> and notices 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 Grantor,
<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 gNen as required by Iaw,
<br /> sell the Property at the time and place of sale flxed by it in such notice of sale,either as whole or in separate lots or parcels or items as Lender shall deem
<br /> expedieM,and in such order as h may deterMne,at public auctlon to the highest bidder for cash in lawful mcney of the United States payable at the time of
<br /> saie,or as otherwise may then be required by Iaw. Trustee shall deliver to such purchaser or purchasers thereof ils good and sufficierrt deed or deeds
<br /> corneying the property so sold, but wfthout any covenarrt or warraMy, express or implied. The redtals in such deed of any matters or facts shall be
<br /> condusive proof of the truthfulness thereof. My person,induding,without Itmttatlon,Grantor,Trustee or Lender,may purchase at such sale. Trustee may
<br /> in the menner provided by law postpone sale of all or any portion of the Property.
<br /> 19. RE(iUEST FOR N0T10E3: Grantor requests that a copy of any notice of defaufl and a oopy of any notice of sale hereunder be mailed to each person
<br /> who is a parry hereto at the address of such person set forth herein at the same tfine and in the same manner required as though a separate request thereof
<br /> had been filed by each such person.
<br /> NEDOTC Rw.12197 P.a.s d 8
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