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� 99 109014
<br /> 11. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall irmiediately provide Lender with written notice of any actual or
<br /> threatened action,suit,or other proceeding affecting the Property. Grantor hereby appoints Lender as its attomey-in-fact to cormience,intervene in,and
<br /> defend such actions,suits,or other legal proceedings and to compromise or settle any daim or coMroversy pertaining thereto. Lender shall not be liable to
<br /> Grantor for any action,eROr,mistake,omission or delay pertaining to the actions descxibed in this paragraph or any damages resulting therefrom. Nothing
<br /> �orrtained herein will preverrt Lender from taking the actions described in ihis paragraph in its own name.
<br /> 12 INDEMNIFICATION. Lender shall not assume or be responsible for the performance of any of Grantor's obligations with respect to the Property under
<br /> any arcumstances. GraMor shall irrmediately provide Lender with written notice of and indermify and hold Lender and its shareholders,directors,officers,
<br /> employees and agerrts harmless from all claims, damages, liabilities (including attomeys'fees and legal expenses), causes of action, actions, suits and
<br /> other legal proceedings(cumulatively"Claims")pertaining to the Property(induding,but not limited to,those involving Hazardous Materials). Gramor,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 therewith. In the altemative, Lender shall be entitled to employ hs own legal counsel to defend such Claims at Grarrtor's cost. Grantor's
<br /> obligation to indermify Lender under this paragraph shall survive the termination,release or foredosure of this Deed of Tn�st.
<br /> 18. TAXES AND ASSESSMENTS. Grantor shall pay all taxes and assessments relating to Property when due and imrnediately provide Lender evidence
<br /> of paymerrt of same. Upon the request of Lsnder, Grarnor shall deposit with Lender each moMh one-tweltth (1/12) of the estimated annual insurance
<br /> premium, taxes and assessmerrts pertaining to the Property. So long as there is no defauft,these arrauMs shall be applied to the payment of taxes,
<br /> assessmerrts and insurance as required on the Property. In the event of default,Lender shall have the rigM,at its sole option,to apply the funds so held to
<br /> pay any taxes or agalnst 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 REPORTS. Grarrtor shall allow Lender or its agerns to examine and inspect the Property
<br /> and examine,inspect and make 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 information corrtained in GraMor's books and records shall be genuine,true,accurate and
<br /> complete in all respects. Gramor shall note the existence of Lender's benefiaal iMerest in its books and records pertaining io the Property. Additionally,
<br /> Grarnor shall report,in a form satisfactory to Lender,such information as Lender may request regarding Grantor's 8nancial condition or the Property. The
<br /> infortnation shall be for such periods,shall reflect Grantor's records at such time,and shall be rendered with such frequency as Lender may designate. All
<br /> information fumished by GraMor to Lender shall be true,axurate and complete in all respects,and signed by Grantor if Lender requests.
<br /> 15. ESTOPPEL CERTIFICATES. Wrthin ten(10)days after any request by Lender,Grarnor shall deliver to Lender,or any irrtended transferee of Lender's
<br /> rights with respect to the Obligations,a signed and adviowledged statemeM specifying(a)the outstanding balance on the Obligations;and(b)whether
<br /> Grarrtor 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 /> courrterdaims. Grantor will be condusively bound by any representation that Lender may make to the intended transferee with respect to these matters in
<br /> the evern that Grantor fails to provide the requested statemerrt in a timely manner.
<br /> 16. DEFAULT. Grantor shall be in defauft under this Deed of Trust and the Trusiee's power shall become operative in the event that Grantor,Borrower or
<br /> any guarantor of the Obligations:
<br /> (a) fails to pay any Obligation to Lender when due;
<br /> (b) fails to perform any Obligation or txeaches any warranty or covenarn to Lender comained in this Deed of Trust or any other preserrt or future
<br /> agreement;
<br /> (c) destroys,loses or damages the 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 insoberrt,makes an assignmeM for the beneflt of credftors,fails to pay
<br /> debts as they become due,files a petition under the federal banlwptcy laws,has an involuMary petition in ban{wptcy filed in which Grantor,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 Grantor 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 signiflcant dedine in the value of the Property;or if Lender,in good faith,for any reason,believes
<br /> that ihe prospect of paymerrt or perfomiance is impaired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a default under this Deed of Trust, Lender shall be eMitled to exercise one or more of the following
<br /> remedies without notice or demand(except as required by law):
<br /> (a) to dedare the Obligations iRmediately due and payable in full;
<br /> (b) to collect the outstanding Obligations with or without resorting to judiaal�xocess;
<br /> (c) to require Grantor to deliver and malce available to Lender any personal property or Chattels constituting the Property at a place reasonably
<br /> convenient to Grantor and Lender;
<br /> (d) to emer upon and take possession of the Property without applying for or obtaining the appointmerrt of a receiver and, at Lender's option,to
<br /> appoim a receiver without bond, without first bringing suit on the Obligations and without otherwise meeting any statutory conditions regarding
<br /> receivers,ii being irrtended that Lender shall have this contractual rigM to appoirrt a receiver;
<br /> (e) to employ a managing agerrt of the Property and let the same,either in Trustee's own name,in the name of Lender or in the name of Grantor,and
<br /> receive the rertts,incomes,issues and profrts of the Property and apply the same,after payment of all necessary charges and expenses,on account of
<br /> the Obligations;
<br /> (� to pay any sums in any foRn or manner deemed expedierrt by Lender to protect the security of this Deed of Trust or to cure any defauR other than
<br /> paymern of irnerest or prfndpal on the Obligations;
<br /> (g) to foreclose this Deed of Trust judidally or nonjudicially and to direct the sale of the property through exerdse of the power of sale as referenced in
<br /> paragraph 20 hereof in acccordance with applicable law;
<br /> (h) to set-off Grantor's Obligations against any amounts owed Grantor by Lender induding, but not limited to, monies, instruments, and deposii
<br /> acoounts maiMained with Lender or any curreMly existing or future affiliate of Lender,and
<br /> (i)to exercise all other rigMs available to Lender under any other written agreemern 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 the
<br /> recovery of any of the Property by way of a prejudgment remedy in an action against Grantor, Grarnor waives the posting of any bond which mi�ht
<br /> othervvise be required. Lender or Lender's designee maypu rchase 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 paymerri of the Trusiee's fees actually incurred and not to
<br /> exceed the amcum which may be provided for in this Deed of Trust,second,to payment of the Obligations secured hereby,third,to the payment of junior
<br /> trust deeds,mortgages,or other lienholders,and the balance,if any,to the person or persons legally errtitled thereto. The property or any part thereof may
<br /> be sold in one parcel,or in such parcels,manner or order as Lender in its sole discretion may elect,and one or rrbre exerases of the power herein granted
<br /> shall not extinguish or exhaust the power unless the errtire 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 Grarnor's interest in the Property by exercise of the power of
<br /> sale herein contained,Lender shall notify Trustee in the manner then required by law.
<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 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 default and after notice of sale having been given as required by law,
<br /> sell the Property at the time and place of sale fixed by it in such notice of sale,either as whole or in separate lots or parcels or items as Lender shall deem
<br /> expediern,and in such order as it may determine,at public auction to the hi�est bidder for cash in lawful mcney of the United States payable at the time of
<br /> sale,or as otherwise may then be required by law. Trustee shall deliver to such purchaser or purchasers thereof its good and suffiaent deed or deeds
<br /> conveying the property so sold, but without any covenarrt or warranty, express or implied. The reatals in such deed of any matters or facts shall be
<br /> condusive proof of the truthfulness thereof. My person,induding,without limitation,Grantor,Trustee or Lender,may purchase at such sale. Trustee may
<br /> in the manner provided by law postpone sale of all or any portion of the Property.
<br /> 19. RE�UEST FOR NOTICES: Grantor requests that a copy of any notice of defauft 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 same manner required as though a separate request thereof
<br /> had been filed by each such person.
<br /> NEDOTC Rev.12i97 Pape 3 of 6 �
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