|
� � � 99 109013
<br /> 20. SECURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered and be effective as a financing
<br /> statement and a fixture filing pursuant to the provisions of the Uniform Commercial Code (as adopted in the state where the real property is located)
<br /> covering fixturws,chattels,and artides of personal property now owned or hereafter attached to or to be used in connection with the Property together with
<br /> any and all replacements thereof and additions thereto(the"Chattels"),and Grarrtor hereby grants Lender a security interest in such Chattels. The debtor is
<br /> the Grantor described above. This Deed of Trust will be effective as a financing statement filed as a fixture filing with respect to all fixtures included within
<br /> said premises and is to be filed for record in the real estate records of each county where any part of said premises(including said fixtures)is situated. This
<br /> Deed of Trust shall also be effective as a finanang statement covering any other premises and rr�ay be filed in any other appropriate filing or recording
<br /> office. A carbon,photographic or other reproduction of this Deed of Trust or of any financing statement relating to this Deed of Trust shall be sufficient as a
<br /> financing statement for any of the purposes referred to in this Paragraph. The secured party is the Lender described above. Upon demand,Grantor shall
<br /> make, execute and deliver such security agreemerrts (as such term is defined in said Uniform Corrmercial Code) as Lender at any time may deem
<br /> necessary or proper or required to grarn to Lender a perfected security irrterest in the Chattels,and upon Grantor's failure to do so,Lender is authorized to
<br /> sign any such agreement as the agerrt of Grantor. Grarrtor hereby authorizes Lender to file finanang statements(as such term is defined in said Uniform
<br /> Cormiercial Code)with 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 financing statements. Grantor will pay all filing fees for the filing of such financing statements and for the refiling thereof at the times required,in
<br /> the opinion of Lender,by said Uniform Cormiercial Code. If the lien of this Deed of Trust be subject to any security agreemerrt covering the Chattels,then
<br /> in the event of any defauft 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
<br /> Lender,together with the benefit of any deposhs or payments now or hereafter made thereof by Grantor or the rxedecessors or successors in title of
<br /> Grantor in the Property.
<br /> 21. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender, at Lender's option,may eupend funds(including attomeys'fees and legal
<br /> e�cpenses)to perfoRn any act required to be taken by Grantor or to exerase any rigM or rernedy of Lender under this Deed of Trust. Upon demand,Grantor
<br /> shall immediately reimburse Lender for all such amourrts expended by Lender together with interest thereon at the lower of the highest rate described in any
<br /> Obligation or the highest rate allowed by law from the date of payment urrtil the date of reimbursement. These sums shall be induded in the definition of
<br /> Obligations herein and shall be secured by the benefiaal interest granted herein. If the Obligations are paid after the beginning of publication of notice of
<br /> sale,as herein provided,or in the event Lender shall,at its sole option,pemit 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�y the proceeds of the trustee's sale,first,to the costs and expenses of exerasing the power of
<br /> sale and of the sale,including thepa ymerrt of the Trustee's ees actually incurred not to exceed the amount which may be provided for in the Deed of Trust,
<br /> second,to payment 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 entitled thereto.
<br /> 23. POWER OF ATTORNEY. Grantor herebyappoints Lender as its attomey-in-fact to endorse Grantor's name on all instruments and other documents
<br /> pertaining to the Obligations or Deed of Trust. In addition, Lender shall be errtitled, but not required, to perform any action or execute any document
<br /> required to be taken or executed by Grantor under this Deed of Trust. Lender'spe rformance of such action or execution of such documents shall not
<br /> relieve Grantor from any Obligation or cure any defauft under this Deed of Trust. All powers of attomey described in this Deed of Trust are coupled with an
<br /> interest and are irrevocable.
<br /> 24. SUBROGATION OF LENDER. Lender shall be subrogaied to the rigMs of the holder of any previous lien, security interest or encumbrance
<br /> discharged with funds advanced by Lender regardless of whether these liens,security interests or other encumbrances have been released of record.
<br /> 25. COLLECTION COSTS. To ihe extent permitted by law,Grarrtor agrees to pay Lender's reasonable fees and costs,induding,but not limited to,fees
<br /> and costs of attomeys and other agents (indudin� wrthout Iimitation paralegals, derks and consuftarrts), whether or not such attomey or agent is an
<br /> employee of Lender,which are incurred by Lender in collecting any amount due or enforcing any rigM or rernedy under this Deed of Trust,whether or not
<br /> suit is brought,induding,but not limited to,all fees and costs incurred on appeal,in bankruptcy,and for post-judgment collection actions.
<br /> 26. PARTIAL RELEASE. Lender may release its irrterest in a portion of the Property by executing and recording one or more Partial Deeds of
<br /> Reconveyance without affecting its irrierest m 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 required 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 default under this Deed of 7rust. The lien and securtt'yirnerest created by the Deed of Trust remain in effect with respect to
<br /> that portion of the property,as defined in the Deed of Trust,that is not the subject of this or any Partial Deed of Reconveyance
<br /> 27. MODIFICATION AND WAIVER. The modification or waiver of any of Grantor's Obligations or Lender's rights under this Deed of Trust must be
<br /> contained in a writing signed by Lender. Lender may perfoRn any of Borrower's or Grarnor's Obligations,delay or fail to exerase any of its rights or accept
<br /> payments from Grarnor or anyone other than Grantor without causing a waiver of those Obligations or rights. A waiver on one occasion shall not constitute
<br /> a waiver on any other occasion. Grantor's Obli�ations under this Deed of Trust shall not be affected if Lender amends,compromises,exchanges,fails to
<br /> exercise,impairs or releases any of the Obligations belonging to any Grantor,Borrower or third party or any of its rights against any Grantor,Borrower or
<br /> third party or any of the Property. Lender's failure to insist upon strict performance of any of the Obligations shall not be deemed a waiver and Lender shall
<br /> have the right at any time thereafter to insist upon strict pertomiance.
<br /> 28. SUBSTITUTE TRUSTEE;TRUSTEE LIABILITY;COMPENSATION. In case of the death,inability,refusal to act or absence 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 place and stead,the holder of the Obligations is hereby granted full power to appoint in writing a
<br /> substitute trustee for said Trustee,and the substilute trustee shall,when appointed,become suxessor 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 the power,duties and obligations herein conferred on the Trustee. Trustee
<br /> shall not be liable for any error of�udgmerrt or act done by Trustee, or be oiherwise responsible or accountable under any circumstances whatsoever.
<br /> Trustee shall not be personally liable in case of entry by it or anyone acting by virtue of the powers herein granted it upon the Deed of Trust for debis
<br /> corriracted or liability or dama$es incurred in the managemerrt or operation of said premises. Trustee shall have the ri�ht to rely on any instrument,
<br /> document or signature authorizmg or supporting any action taken or Qroposed to be taken by h hereunder or believed by rt in good faith to be genuine.
<br /> Trustee shall be entitled to reimbursemerrt for expenses incurred by h m the performance of its duties hereunder and to reasonable corr�ensation for such
<br /> of hs services hereunder as shall be rendered. Grarnor will,f�om 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 e�cpense whatsoever incurred by it in the performance of its duties.
<br /> All moneys received by Trustee shall,until used or applied as herein provided,be held in trust for the purposes for which they were received,but need not
<br /> be segregated in any manner from any other moneys (except to tF�e exterrt required by Iaw) and Trustee shall be under no liability for interest on any
<br /> moneys received 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 and their respective
<br /> suxessors,assigns,trustees,receivers,administrators,personal represernatives,legatees and devisees.
<br /> 30. NOTICES. Except as othervvise required by law,any notice or other comr�nication to be provided under this Deed of Trust shall be in writing and sent
<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 time to time. Any such
<br /> notice so grven and seM by first class mail,postage prepaid,shall be deemed given the earlier of three�3)days after such notice is sent or when received
<br /> by the person to whom such notice is being given.
<br /> 31. SEVERABILITY. Whenever possible,each provision of this Deed of Trust shall be interpreted so as to be effective and valid under applicable state
<br /> law. If any provisfon of this Deed of Trust violates the law or is unenforceable,the rest of the Deed of Trust shall corrtinue to be valid and enforceable.
<br /> 32 APPIJCABLE 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 /> otherwise,Grarnor conseMs to the jurisdiction and venue of any court selected by Lender,in its sole discretion,located in that state.
<br /> 33. MISCELLANEOU3. Grantor and Lender agree that time is of the essence. Grantor waives presentment,demand for payment,notice of dishonor and
<br /> protest except as required by law. All references to Grantor in this Deed of Trust shall indude all persons signing below. If there is more than one Grantor,
<br /> their Obligations shall be p' int and several. This Deed of Trust represents the complete integrated understanding beiween Grantor and Lender pertaining to
<br /> the terms and conditions hereof.
<br /> 34. NO THIRD PARTY RIGHTS. No person is or shall be a third party beneficiary of any provision of this Deed of Trust. All provisions of this Deed of
<br /> Trust in favor of Lender are irrtended solely for the benefit of Lender,and no third party shall Ye entitled to assume or expect that Lender will not waive or
<br /> consent to the modiflcation of any provision of this Deed of Trust,in Lender's sole discretion.
<br /> 35. PRESERVATION OF LIABILITY AND PRIORITY. Without affecting the liability of Borrower,Grantor,or any guararnor of the Obli�ations,or any other
<br /> person(except a person expressly released in writing)for the paymeM and perfomiance of the Obligations,and without affecting the nghts of Lender with
<br /> respect to any Property not expressly released in writmg,and without impainng in any way the priority of this Deed of Trust over the interest of a�ny person
<br /> acquired or first evidenced by recording subsequerrt to the recording of this Deed of Trust,Lender may,either before or after the maturity of the Obligations,
<br /> and whhout notice or consent:release any person liable for paymerrt or performance of all or any part of the Obligations;make any agreement altering the
<br /> terms of paymerrt or perfomiance of all or any pert of the Obligations;exerase or refrain from exercising or waive any rigM or remedy that Lsnder may have
<br /> under the Deed of Trust;accept additional securiry of any kind for any of the Obligations;or release or otherwise deal with any real or personal property
<br /> securing ihe Obligations. My person acquiring or recording evidence of any irrterest of any nature in the Property shall be deemed, by acquiring such
<br /> irnerest or recording any evidence thereof,to have conserrted to all or any such actions by Lender.
<br /> ----- - --- �-
<br />
|