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� . � 99 10968�
<br /> ' 11. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall immediately 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 attorney-in-fact to commence, intervene in,and
<br /> defend siach actions,suits,or other legal proceedings and to compromise or settle any claim or controversy pertaining thereto. Lender shall not be liable to
<br /> Grantor for any action,error,mistake,omission or delay pertaining to the actions described in this paragraph or any damages resulting therefrom. Nothing
<br /> contained herein will prevent Lender from taking the actions described in this paragraph in its own name.
<br /> 12. INDEMNIFICATiON. Lender shail not assume or be responsible for the performance of any of Grantor's obligations with respect to ihe Property under
<br /> any circumstances. Granior shall immediately provide Lender with written notice of and indemnify and hold Lender and its shareholders,directors,officers,
<br /> employees and agents harmless froili all claims, damages, Iiabilities (including attorneys' fees and legal expenses), causes of action, actions, suits and
<br /> other legal proceedings(cutnulatively"Claims")pertaining to ihe Property(inciuding,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 attorneys'fees, legal expenses and other costs incurred in
<br /> connection therewith. In the alternative, Lender shali be entitled to employ its own legal counsel to defend such Claims at Grantor's cost Grantor's
<br /> obligation to indemnify Lender under this paragraph shall survive the termination,release or foreclosure of this Deed of Trust.
<br /> 13. TAXES AND ASSESSMENTS. Grantor shall pay all taxes and assessments relaling to Property when due and immediately provide Lender evidence
<br /> of paymenl of same. Upon the request of Lender, Grantor sFiall deposit with Lender each month one-twelfth (1/12) of ihe estimated annual insurance
<br /> premiiini, iaxes and assessments pertaining to the Property. So long as there is no default, these amounts shall be applied to the payment of taxes,
<br /> assessments and insurance as required on the Property. In the event of default, Lender shall have the right,at its sole option,to appiy the funds so held to
<br /> pay any taxes or against the Obligations. Any 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. Grantor shall allow �ender or its agents to examine and inspect the Properly
<br /> and examine, ir�spect and make copies of Granior'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 contained in Grantor's books and records shall be genuine,irue,accurate and
<br /> compleie in ail respects. Grantor shall note the existence of Lender's beneficial interest in its books and records pertaining to the Property. Additionally,
<br /> Granto!shall repart, in a form satisfactory to Lender, such information as Lender may request regarding Grantor's financial condition or the Property. The
<br /> information shall be for such periods, shall reflecl Grantor's records at such time,and shail be rendered with such frequency as Lender may designate. All
<br /> inforrnation furnished by Grantor to Lender shall be true,accurate and complete in aii respects,and signed by Grantor if Lender requesis.
<br /> 15. ES70PPEL CERTIFICATES. Vvithin ten(10)days after any request by Lender,Grantor shail deliver to Lender,or any intended transferee of Lender's
<br /> rights wi�h respect to the Obligations, a signed and acknowledged statement specifying (a) the outstanding balance on the Obligations; and (b) whether
<br /> Granic�r possesses any claims,defenses,set-offs or counterclaims with respect to the Obligations and,if so,the nature of such claims,defenses,set-offs or
<br /> counter�laims. Grantor will be conclusively bound by any representation that Lender may make to the intended transferee with respect to these matters in
<br /> the event that Grantor fails to provide the requested stalement in a timely manner.
<br /> 16. DEFAULT. Grantor shall be in defauit under this Deed of Trust and the Trustee's power shall become operative in the event that Grantor, Borrower or
<br /> any guarantor of the Oblig�tions:
<br /> (aj fails to pay any Obligation to Lender when due;
<br /> (b) iails to perform any Obligation or breaches ariy warranty or covenant to Lender contained in ihis Deed of Trust or any other present or future
<br /> ayreemenl;
<br /> (c) destroys,loses or damages thie Property in any material respect or subjects the Property to seizure,confiscation,or condemnation;
<br /> (d) seeks to revoke,terminaie or otherwise limit its liability under any guaranty to Lender;
<br /> (el dies, becomes legally incompetent, is dissolved or terminated, becomes insolvent, makes an assignmeni for the benefit of creditors, fails to pay
<br /> debis as they become due,files a petition under the federal bankruptcy laws,has an involuntary petition in bankruptcy filed in which Gramor, Borrower
<br /> or any guarantor is narned,or has property taken under any writ or process of court;
<br /> (f) allows goods to be used,transported or stored on the Property,ihe possession,lransportation,or use of which,is illegal;
<br /> (g) allows any party other than Grantor or Borrower to assume or undertake any Obligation without the writien 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,believes
<br /> tYia1 the prospect of payment or performance is impaired.
<br /> 17. RIGHTS OF LENDER ON DEFAULT. !f there is a default under this Deed of Trust, Lender shall be entitied to exercise one or more of the foilowing
<br /> remedies without notice or demand(except as required by law):
<br /> (a) to declare tFie Obligations immediately due and payable in fuii;
<br /> (b; to collect the outstanding Obiigations with or without resorting to judicial process;
<br /> (c) to require Grantor to deliver and make available to Lender any personal property or Chattels constituting the Property at a place reasonably
<br /> convenient to Grantor and 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 ihe 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 ihe 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 rents,incomes,issues and profits of the Property and apply the same,after payment of all necessary charges and expenses,on account of
<br /> the Obligations;
<br /> (f) to pay any sums in any form or manner deemed expedient by Lender to proteci the security of this Deed of Trust or to cure any default other than
<br /> payment of interest or principal on ihe Obligations;
<br /> (g) to foreclose this Deed of Trust judicially or nonjudicially and to direct the sale of the property through exercise of the power of sale as referenced in
<br /> paragraph 20 hereot in acccordance with applicable law;
<br /> (h) Po set-off Grantor's Obligations against any amounts owed Grantor by Lender including, buT not limiied to, monies, instruments, and deposit
<br /> accounts maintained with Lender or any currently existing or future affiliate of Lender;and
<br /> (i)10 exercise ail other rights available to Lender under any other written agreement or applicable law.
<br /> Lender's rights are cumulative and rnay 6e exercised together, separately, and in any order. In the event that Lender institutes an action seeking the
<br /> recovery of any of ihe Property by way of a prejudgment remedy in an action against Grantor, Grantor waives the posting of any bond which might
<br /> otherwise be required. Lender or L.ender's designee may purchase the Properiy at any sale. Proceeds of any Trustee's sale hereunder shall be applied
<br /> first, to Ihe costs and expenses of exercising the power of sale and of the sale, including the payment of the Trustee's fees actually incurred and not to
<br /> exceed tlie amouni which may be pruvided for in this Deed of Trust,second,to payment of 1he Obligations secured hereby,third,to the payment of junior
<br /> irust deeds,mortgages,or oiher lieriholders,and the balance,if any,to the person or persons legally entitled thereto. The property or any part thereof may
<br /> be sold in one parcel,or in s�ach parcels,manner or order as Lender in its sole discretion may elect,and one or more exercises of the power herein granted
<br /> shall noi extinguish or exhausl the power unless the entire property is sold or the obiigations are paid in full.
<br /> 18. TRUSTEE'9 EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to sell Granlor'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 1he 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 Trusi. 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 afler recordation of such notice of default and after notice of sale having been given as required by law,
<br /> seli the Propeny at the time and place of sale fixed by it in such notice of sale,eilher as whole or in separate lots or parcels or items as Lender shall deem
<br /> expedient,and in such order as it may determine,at public auction to the highesi bidder for cash in lawful money 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 sufficient deed or deeds
<br /> conveying the property so sold, bui without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be
<br /> conclusive proof of the truthfulness thereof. Any person,including,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. REQUEST FOR NOTICES: Granior requests that a copy of any notice of defauli 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 forih 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.
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