|
99- sc�ssss
<br /> 20, SECURlTY INTEREST UNDER THE UNIFORM COAAMERCIAL CODE. This Deed of Trust shall be considered and be effective as a finandng
<br /> statement and a fixlure filing pursuant to the provisions of the Uniform Corrmercial Code (as adopted in the state where the real property is locaied)
<br /> cove�ing flxtures,chattels,and artides of personal property now owned or hereaiter attached to or to be used in connection with the Property together with
<br /> any and all replacemerrts thereof and additions thereto(the"Chattels"),and Grantor hereby grants Lender a security irnerest in such Chattels. The debtor is
<br /> the Grantor described above. This Deed of Trust will be effective as a finanang statement filed as a fixture filing with respect to all fixtures induded within
<br /> sald premises and is to be flied for record in the real estate records of each courrty where any part of said premfses(induding said fixtures)is situated. This
<br /> Deed of Trust shall alao be effective as a flnandng atatemern covering any other premisea and may be flled in any otherappropriate filing or recording
<br /> offlce. A carbon,photographic or other repro�ction of this Deed of Trust or of any finanang statement relating to this Deed of Trust shall be suffiaerrt as a
<br /> finanang statemerrt for any of the purposes referred to in this Paragraph. The secured parry is the Lender described above. Upon demand,Grarrior shall
<br /> make, execute and deliver such security agreements (as such term is deflned in said Uniform Corrmercial Code) as Lender at any time may deem
<br /> neoessary or proper o�required to graM to Lender a perfected security irrterest in ihe Chattels,and upon Grantor's failure to do so,Lender is authorized to
<br /> sign any such agreemern as the agerrt of Grantor. Grantor hereby authorizes Lender to flle finandng statemems(as such term is deflned in said Uniform
<br /> Corrrnerdal Code)whh respect to the Chattels,at any time,without the signature of Grantor. Grarrtor will,however,at any time upon request of Lender,
<br /> sign such flnandng statemerrts. Grantor wlll pay all flling fees for the flling of such flnandng statements and for the reflling thereof at the times required,in
<br /> the opnion of Lender,by said Uniform Cortrnerdal Code. If the lien of this Deed of Trust be subject to any security agreemerrt covering the Chattels,then
<br /> in the everrt of any defauh under this Deed of Trust,all the rigM,tftle and iMerest of Grantor in and to any and all of the Chattels is hereby asslgned to
<br /> Lender, together with the benefit of any deposits or paymerrts now or hereafter made thereof by Gramor or the predecessors or successors in tftle of
<br /> Grantor in the 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 perfortn any act required to be taken by Grantor or to exerdse any rigM or remedy of Lender under this Deed of Trust. Upon demand,Grantor
<br /> shall irrmediately reimburse Lender for all such amourrts expended by Lender together wRh irnerest thereon at the lower of the highest rate described in any
<br /> Obligation or the highest rate allowed by law(rom the date of payment urrtil the date of reimbursemerrt. These sums shall be included in the definition of
<br /> Obligations herein and shall be secured by the beneflaal irrterest granted herein. If the Obligations are paid after the beginning of publication of notice of
<br /> sale,as herein provided,or in the everrt Lender shall,at its sole option,pemrt Grantor to pay any part of the Obligations aRer the beginning of publication of
<br /> notice of sale,as herein provided,then,Grantor shall pay on demand all expenses incurred by the Trustee and Lender in connection with said publication,
<br /> induding 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 /> security for all such expenses and fees.
<br /> 22. APPLICA710N OF PAYMENTS. The Trustee shall apply the prooeeds of the trustee's sale,first,to ihe costs and expenses of exercising the power of
<br /> sale and of the sale,induding the paymeM of the Trustee's fees actually incurred not to exceed the amourrt which may be provided for in the Deed of Trust,
<br /> second,to paymerrt of the obligation secured by the Deed of Trust,third,to the payment 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. Grantor herebyappoints Lender as its attomey-in-fact io endorse Grantor's name on all instruments and other documents �
<br /> pertatnfng to the Obligations or Deed of Trust. In addRion, Lender shall be errtitled, but notrequired, tope rform any action or execute any document
<br /> required to be taken or executed by Grantor under this Deed of Trust. lender'spe rfomience of such action or execution of such documerrts shall not
<br /> relieve Grantor from any Obligation or cure any defauft under this Deed of Trust. All pwers of attomey described in this Deed of Trust are coupled with an
<br /> irrterest and are iRevocable.
<br /> 24. SUBROGATION OF LENDER. Lender shall be sulxogated to the rights of the holder of any previous lien, security irnerest or encumbrance
<br /> discharged wfth funds advanced by Lender regardless of whether these Ilens,securiy interests or other encumbrances have been released of record.
<br /> �. COLLECTION COSTS. To the extent pem9tted by Iaw,Grarrtor agrees to pay Lender's reasonable fees and costs,Induding,but not Iimtted to,fees
<br /> and costs of attomeys and other agerrts (indudin� wrthout limitation paralegals, derks and consultarrts), whether or not such ariomey or agent is an
<br /> employee of l.ender,which are incurred by Lender m oollecting any amoum due or enforang any rigM or remedy under this Deed of Tn�st,whether or not
<br /> suit is brought,indu�ng,bul not limited to,all fees and costs incurred on appeal,in bankruptcy,and for post-judgmerrt coltection actions.
<br /> 2B. PARTIAL RELEASE. Lender may release its irrterest in apo rtion of the Property by executing and recording one or more Partial Deeds of
<br /> Reoonveyance without affecting its irrterest in ihe remaining portion of the Property. Nothing herein shall be deemed to obligate Lender to release any of its
<br /> irnerest in the Property(except as recµ�ired under Paragraph 38 or as may be otherwise reqwred by law),nor shall Lender be obligated to release any part
<br /> of the Property if Grantor is in defauN under this Deed of 7rust. The lien and security irrterest created by the Deed of Trust remain in effect wRh respect ta
<br /> that portion of the property,as deHned in the Deed of Trust,that is not the subject of tF�is or any Partial Deed of Recorneyenoe
<br /> 27. MODIFICATION AND WAIVER. The modification or waiver of any of Grarrtor's Obligations or Lender's rigMs under this Deed of Trust must be
<br /> oornained in a writing signed by Lender. Lender may perform any of Borrower's or Grantor's Obligations,delay or fail to exercise any of fts rigMs or axept
<br /> paymerrts from Grantor or anyone other than Grarrtor wfthout causing a waiver of those Obligations or rigMs. A walver on one occasion shall not constitute
<br /> a waiver on any other oxasion. Grantor's Obli�ations under this Deed of Trust shatl not be affected if Lender amends,compromises,exchanges,fails to
<br /> exerdse,impairs or releases any of the Obligations belonging to any Gramor.Borrower or thirdparty or any of its rigMs against any Grarnor, Borrower or
<br /> third party or any of the Property. Lender's failure to insist upon strict perfom�ance of any of the Obli-gations shall not be deemed a waiver and Lender shall
<br /> have the rigM at any time thereafter to insist upon strict perfomience.
<br /> 28. SUBSTITUTE TRUSTEE;TRUSTEE LIABIUTY;COMPENSATION. In case of the death,inabiliry,refusal to act or absence of the Trustee from the
<br /> state where the real properry 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 place and stead,the holder of the Oblfgations is hereby gramed full power to appoirrt in writing a
<br /> substftute trustee for said Trustee,and the substitute trustee shall,when appoirned,become successor to all rigMs of Trustee hereunder and the same shall
<br /> become vested in him for the purposes and objects of this Deed of Trust with all ihe power,duties and obligations herein conferred on the Trustee. Trustee
<br /> shall not be Ilabie for any error of udgmerrt or act done by Trustee, or be otherwise responsfble or accoumable under any dreumstances whatsoever.
<br /> Trustee shall not be personally li�e in case of entry by it or anyone acting by virtue of the powers herein granted it upon the Deed of Trust for debts
<br /> corrtracted or Ileblliry or damages incurred In themenage merrt or operation of said premises. Trustee shall have the ri�ht to rel on any instrumerrt,
<br /> documerrt or aignature authorizing or supporling any action taken or proposed to be taken by H hereunder or believed by rt in�fefth to be genuine.
<br /> Trustee shall be entitled to reimbursement for expenses incurred by it in the performence of its dutles hereunder and to reasonable compensation for such
<br /> of its servioes hereunder as shall be rendered. Grantor will,(rom time to time,pay compensation due Trustee hereunder and reimburse Trustee for and
<br /> save and hold it hamiless from and against any and all loss,cost,liability,damage and expense whatsoever incurred by it in the perfom�ance of fts duties.
<br /> All rrpneys reoeived by Trustee shall,until used or applied as hereinprovided,be held i�trust for thepu rposes for which they were received,but need not
<br /> be segregated in any manner from any other moneys (exoept to the exteM requfred by Iaw) and Trustee shall be under no liability for irrterest on any
<br /> moneys recefved by d hereunder.
<br /> 29. SUCCESSORS AND ASSIGNS. This Deed of Trust shall be binding upon and inure to the benefit of Grarnor and Lender and their respective
<br /> successors,assi�s,trustees,receivers,administrators,personal representatives,legatees and devisees.
<br /> 90. NOTICES. Except as otherwise required by law,any notice or other cormxmication to be provided under this Deed of Trust shall be in writing and seM
<br /> to the perties at the addresses described in this Deed of Trust or such other address as the perties ma designate in writing from time to time. My such
<br /> notice so gf�ren and sern by flrst dass mafl,postage prepaid,shall be deemed gfven the earlier of three�3)days aiter such notice is serrt or when received
<br /> by the person to whom such notice is being given.
<br /> 31. SEVERABILJTY. Whenever possible,each provision of ihis Deed of Trust shall be interpreted so as to be effective and valid under applic�ble state
<br /> law. If any provision of this Deed of Trust violates the law or is unenforceable,the rest of the Deed of Tn�st shall co�tinue to be valfd and enforceable.
<br /> 32 APPLICABLE LAW. This Deed of Trust shall be govemed by the laws of the state where the real property is located. Unless applicable law provides
<br /> othervvise,Grantor conserrts to the jurisdiction and venue of any court selected by Lender,in its sole discretion,located in that state.
<br /> S3. MISCELLANEOU3. Grarttor and Lender agree that time is of the essence. Grantor waives presentmern,demand for paymerrt,notice of dishonor and
<br /> protest except asrequired by Iaw. All references to Grantor in this Deed of Trust shall indude allpe rsons signing below. If there is more than one Grarrtor,
<br /> their Obligations shell be p' Irrt and several. This Deed of Trust represerrts the complete irrtegrated understanding between Grantor and Lender pertaining to
<br /> the terms and oonditions hereof.
<br /> 34. NO THIRD PARTY RIGHTS. No person is or shall be a thfrd party benefidary of anyprovision of this Deed of Trust. All provisions of thfs Deed of
<br /> Trust in favor of Lender are Intended solely for the benefit of Lender,and no third party shall be errtftled to assume or expect that Lender will not walve or
<br /> conserrt to the modiflcation of any provision of this Deed of Trust,in Lender's sole c�scretion.
<br /> 36. PRESERVATION OF LIABILITY AND PRIORITY. Wrthout affecting the liability of Borrower,GraMor,or any guarantor of the Oblfgations,or any other
<br /> person(exoept a person expressly released fn writing)for the paymeM andpertorrt�ence of the Obligations,and whhout affecting the rigMs of Lender wRh
<br /> reapect to any P��y not expressly released in writin ,and without impeiring in any way the priority of this Deed of Trust over the irnerest of any person
<br /> uired or flrst evidenced reoordi su � so
<br /> acq by ng bsequent to t reoording of this Deed of Trust.Lender may,either before or after the maturity of the Ob(fgations,
<br /> and wfthout notioe or oonsent:release any person Uebie fo�r� paymeM or perfom�ence of all or any part of the Obligationa;meke any agreemerrt eltering the
<br /> tem�s of p�yment orp�orrrrence of all or any part of the Obligations;exerdse or retrain from exercising or waive any ri t or remedy that Lender may have
<br /> under the Deed of Trust;axept adc�tional securiry of any kind for any of the Obligations;or release or otherwise�wfth any real or personal property
<br /> securing the ObligaUons. My person acquihng or recor�ng evidence of any irrterest of any nature in the Property shall be deemed, by acquirfng sucf�
<br /> iMerest or recording any evidenoe thereof,to have conserrted to all or any sucfi actions by Lender.
<br />
|