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<br /> 15. TAXES AND ASSESSMENTS. Grantor shall pay all taxes and assessments relating to the Property whe�4 due and immediately provide Lender
<br /> evidence of payment of same. Upon the request of Lender,Grantor shall deposit with Lender each month one-twelfth (1/12)of the estimated annual
<br /> insurance premium,taxes and assessments pertaining to the Property. So long as there is no default,these amounts shall be applied to the payment
<br /> of taxes, assessments and insurance as required on the Property. In the event of default, Lender shall have the right,at its sole option,to apply the
<br /> funds so held to pay any taxes or against the Obligations. Any funds applied may, at Lender's option, be applied in reverse order of the due date
<br /> thereof.
<br /> 16. �INSPECTION OF PROPERTY, BOOKS, RECORDS AND REPORTS. Grantor shall ailow Lender or its agents to examine and inspect the
<br /> Property and examine, inspect and make copies of GrantoPs books and records pertaining to the Property from time to time. Grantor shall provide
<br /> any assistance required by Lender for these purposes. All of the signatures and information contained in Grantor's books and records shall be
<br /> genuine, true, accurate and complete in all respects. Grantor shall note the existence of LendePs beneficial interest in its books and records
<br /> pertaining to the Property. Additionally, Grantor shall report, in a form satisfactory to Lender, such information as Lender may request regarding
<br /> GrantoPs financial condition or the Property. The information shall be for such periods, shall reflect GrantoPs records at such time, and shall be
<br /> rendered with such frequency as Lender may designate. All information furnished by Grantor to Lender shall be true, accurate and camplete in all
<br /> respects,and signed by Grantor if Lender requests.
<br /> 17. ESTOPPEL CERTIFICATES. Within ten (10) days after any request by Lender, Grantor shall deliver to Lender, or any intended transferee of
<br /> Lender's rights with respect to the Obligations,a signed and acknowledged statement specifying (a)the outstanding balance on the Obligations;and
<br /> (b)whether Grantor possesses any claims, defenses, set-offs or counterclaims with respect to the Obligations and, if so,the nature of such claims,
<br /> defenses,set-offs or counterclaims. Grantor will be conclusively bound by any representation that Lender may make to the intended transferee with
<br /> respect to these matters in the event that Grantor fails to provide the requested statement in a timely manner.
<br /> 18. EVENTS OF DEFAULT. An Event of Default shall occur under this Deed of Trust and the Trustee's power shali become operative in the event that
<br /> Grantor,Borrower or any guarantor of the Obligations:
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to perform any Obligation or breaches any warranty or covenant to Lender contained in this Deed of Trust or any other present or future
<br /> agreement;
<br /> (c) destroys,loses or damagesthe Property in any material respect or subjects the Property to seizure,confiscation,or condemnation;
<br /> (d) seeks to revoke,terminate or otherwise limit its liability under any guaranty to Lender;
<br /> (e) dies, becomes legally incompetent,is dissolved or terminated,becomes insolvent,makes an assignment for the benefit of creditors,fails to
<br /> pay debts as they become due,files a petition under the federal bankruptcy laws,has an involuntary petition in bankruptcy filed in which Grantor,
<br /> Borrower or any guarantor is named,or has property taken under any writ or process of court;
<br /> (f) 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 Obiigation without the written consent of Lender;or
<br /> (h) causes Lender to deem itself insecure due to a significant decline in the value of the Property; or if Lender, in good faith, for any reason,
<br /> believes that the prospect of payment or performance is impaired.
<br /> 19. RIGHTS OF LENDER ON EVENT OF DEFAULT. Upon the occurrence of an Event of Default under this Deed of Trust,Lender shall be entitled to
<br /> exercise one or more of the following remedies without notice or demand (except as required by Iaw):
<br /> (a) to declare the Obligations immediately due and payable in full,such acceleration shall be automatic and immediate if the Event of Default is
<br /> a filing under the Bankruptcy Code;
<br /> (b) to collect the outstanding Obligations with or without resorting to judicial process;
<br /> (c) to require Grantor to deliver and make available to Lender any personai property or Chattels constituting the Property at a place reasonably
<br /> convenientto Grantorand Lender,
<br /> (d) to enter upon and take possession of the Property without applying for or obtaining the appointment of a receiver and,at Lender's option,to
<br /> appoint a receiver without bond,without first bringing suit on the Obligations and without otherwise meeting any statutory conditions regarding
<br /> receivers,it being intended that Lender shall have this contractual right to appoint a receiver,
<br /> (e) to employ a managing agent of the Property and let the same, either in Trustee's own name, in the name of Lender or in the name of
<br /> Grantor, and receive the rents, incomes, issues and profits of the Property and apply the same, after payment of all necessary charges and
<br /> expenses,on account of the Obligations;
<br /> (f) 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 default other
<br /> than payment of interest or principal on the Obligations;
<br /> (g) to foreclose this Deed of Trust judicially or nonjudicially and to direct the sale of the properry through exercise of the power of sale as
<br /> referenced in paragraph 20,herein,in accordance with applicable law;
<br /> (h)to set-off GrantoPs Obligations against any amounts owed Grantor by Lender including,but not limited to,monies,instruments,and deposit
<br /> accounts maintained with Lender or gny currently existing or future affiliate of Lender;and
<br /> (ij to exercise all other rightsavaHabla to Lender under any other wntten agreement or applicable 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
<br /> the recovery of any of the Property by way of a prejudgment remedy in an action against Grantor,Grantor waives the posting of any bond which
<br /> might otherwise be required. Lender or LendePs designee may purchase the Property at any sale. Proceeds of any Trustee's sale hereunder
<br /> shall be applied first,to the costs and expenses of exercising the power of sale and of the sale, including the payment of the Trustee's fees
<br /> actually incurred and not to exceed the amount which may be provided for in this Deed of Trust,second,to payment of the Obligations secured
<br /> hereby, third, to the payment of junior trust deeds, mortgages, or other lienholders, and the balance, if any, to the person or persons legally
<br /> entitled thereto. The Property or any part thereof may be sold in one parcel,or in such parcels, manner or order as Lender in its sole discretion
<br /> may elect,and one or more exercises of the power herein granted shall not extinguish or exhaust the power uniess the entire Property is sold or
<br /> the obligations are paid in full.
<br /> 20. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT. Upon default by Borrower in payment of any Obligations secured hereby, Lender
<br /> may declare all sums,secured hereby,immediately due and payable and shall cause to be filed of record a written notice of default and election to
<br /> seli the Property. After the lapse of such time as then may be required by law following recordation of such notice of default, and notice of sale
<br /> having been given as then required by law,Trustee,without demand on Grantor,shall sell such Property,either as a whole or in separate parcels,and
<br /> in such order as it or lender may determine, at public auction to the highest bidder. Trustee may postpone the sale of ali or any portion of the
<br /> Property by public announcement at the time and place of sale,and from time to time thereafter may postpone the sale by pubtic announcement at
<br /> the time and place fixed by the preceding postponement. Trustee shail deliver to such purchaser its deed conveying the property,or portion thereof,
<br /> so sold, but without any covenant or warranry,express or impiied. The recitals in such deed of any matters of fact or otherwise,shali be conclusive
<br /> proof of the truthfulness thereof. Any person,including Grantor,Trustee or Lender,may purchase at such sale.
<br /> 21. RE�UEST FOR NOTICES. Grantor requests that a copy of any notice of default and a copy of any notice of sale hereunder be mailed to each
<br /> person who is a party hereto,at the address of such person set forth herein at the same time and in the same manner required as though a separate
<br /> request thereof had been filed by each such person.
<br /> 22. SECURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered a financing statement and a
<br /> fixture filing pursuant to the provisions of the Uniform Commercial Code (as adopted in the state where the Property is located) covering fixtures,
<br /> chattels,and articles of personal property now owned or hereafter attached to or to be used in connection with the Properry together with any and all
<br /> replacements thereof and additions thereto (the"Chattels"),and Grantor hereby grants Lender a securiry interest in such Chattels. The debtor is the
<br /> Grantor described above. The secured party is the Lender described above. Upon demand, Grantor shall make,execute and deliver such security
<br /> agreements(as such term is defined in said Uniform Commercial Code)as Lender at any time may deem necessary or proper or required to grant to
<br /> Lender a pertected security interest in the Chattels,and upon Grantor's failure to do so,Lender is suthorized to sign any such agreement as the agent
<br /> af cr�n r ,.�if�r1SQ(her�by authorizes-l_ender to file financing statements(as such term is defined in said Uniform Commercial Code)with respect to
<br /> the Chattels,at any fime,without the signature of Grantor. Grantor will,however,at any time upon request of Lende�,sign such financing statements.
<br /> Grantor will pay all filing fees for the filing of such financing statements and for the refiling thereof at the times required,in the opinion of Lender,by
<br /> said Uniform Commercial Code. If the lien of this Deed of Trust is subject to any security agreement covering the Chattels,then in the event of any
<br /> default under this Deed of Trust,all the right,title and interest of Grantor in and to any and all of the Chattels is hereby assigned to Lender,together
<br /> with the benefit of any deposits or payments now or hereafter made thereof by Grantor or the predecessors or successors in title of Grantor in the
<br /> Property.
<br /> 23. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender,at LendePs option,may expend funds(including attomeys'fees and legal
<br /> expenses)to perform any act required to be taken by Grantor or to exercise any right or remedy of Lender under this Deed of Trust. Upon demand,
<br /> Grantor shall immediately reimburse Lender for all such amounts expended by Lender together with interest thereon at the lower of the highest rate
<br /> described in any Obligation or the highest rate allowed by law from the date of payment until the date of reimbursement. These sums shall be
<br /> included in the definition of Obligations herein and shall be secured by the beneficial interest granted herein. If the Obligations are paid after the
<br /> beginning of publication of notice of sale, as herein provided, or in the event Lender shall, at its sole option, permit Grantor to pay any part of the
<br /> Obligations after the beginning of publication of notice of sale,as herein provided,then, Grantor shall pay on demand all expenses incurred by the
<br /> Trustee and Lender in connection with said pubiication,including reasonabie attomeys'fees to the attomeys for the Trustee and for the Lender,and a
<br /> reasonable fee to the Trustee,and this Deed of Trust shall be security for all such expenses and fees.
<br /> 24. APPLICATION OF PAYMENTS. Ali payments made by or on behalf of Grantor may be applied against the amounts paid by Lender (including
<br /> attorneys'fees and legal expenses) in connection with the exercise of its rights or remedies described in this Deed of Trust and then to the payment
<br /> of the remaining Obligations in whatever order Lender chooses.
<br /> 25. POWER OF ATTORNEY. Grantor hereby appoints Lender as its attorney-in-fact to endorse Grantor's name on all instruments and other
<br /> documents pertaining to the Obligations or Deed of Trust. In addition,Lender shall be entitled,but not required,to perform any action or execute any
<br /> document required to be taken or executed by Grantor under this Deed of Trust. LendePs performance of such action or execution of such
<br /> documents shall not relieve Grantor from any Obligation or cure any default under this Deed of Trust. All powers of attorney described in this Deed of
<br /> Trust are coupled with an interest and are irrevocable.
<br /> 26. SUBROGATION OF LENDER. Lender shail be subrogated to the rights of the holder of any previous lien, security interest or encumbrance
<br /> discharged with funds advanced by Lender regardless of whether these liens,securitv interests or other encumhrances have t,Aan raiAa�A��f.p��.� I_
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