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DEED OF TRUST �,9 10 9 9 �b Page 5
<br /> (Continued)
<br /> payments of principal and interest made by Borrower.
<br /> Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shall
<br /> have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as
<br /> provided below unless Trustor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the
<br /> Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a
<br /> part of this Deed of Trust:
<br /> Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures or
<br /> other personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended
<br /> from time to time.
<br /> Security Interest. Upon request by Lender, Trustor shall execute financing statements and take whatever other action is requested by
<br /> Lender to perfect and continue Lender's security interest in the Personal Property. In addition to recording this Deed of Trust in the
<br /> real property records, Lender may, at any time and without further authorization from Trustor, file executed counterparts, copies or
<br /> reproductions of this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or
<br /> continuing this security interest. Upon default, Trustor shall assemble the Personal Property in a manner and at a place reasonably
<br /> convenient to Trustor and Lender and make it available to Lender within three (3) days after receipt of written demand from Lender.
<br /> Addresses. The mailing addresses of Trustor (debtor) and Lender (�ecured party) `rom which information concerning the security
<br /> interest granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code) are as stated on the first
<br /> page of this Deed of Trust.
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions re�ating to further assurances and attorney-in-fact are a part of
<br /> this Deed of Trust:
<br /> Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, execute and deliver, or will cause
<br /> to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded,
<br /> refiled, or rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all
<br /> suGh mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of
<br /> further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to
<br /> effectuate, complete, perfect, continue, or preserve (1) Borrower's and Trustor's obligations under the Note, this Deed of Trust, and
<br /> the Related Documents, and (2) the liens and security interests created by this Deed of Trust on the Property, whether now owned
<br /> or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender
<br /> for all costs and expenses incurred in connection with the matters referred to in this paragraph.
<br /> Attorney-in-Fact. If Trustor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name
<br /> of Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints Lender as Trustor's attorney-in-fact for
<br /> the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's
<br /> sole opinion,to accomplish the matters referred to in the preceding paragraph.
<br /> FULL PERFORMANCE. If Borrower pays all the Indebtedness when due, and otherwise performs ali the obligations imposed upon Trustor
<br /> under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to
<br /> Trustor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the
<br /> Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted by applicable law.
<br /> EVENTS OF DEFAULT. At Lender's option, Trustor will be in defauit under this Deed of Trust if any of the fo�lowing happen:
<br /> Payment Default. Borrower fails to make any payment when due under the Indebtedness.
<br /> Break Other Promises. Borrower or Trustor breaks any promise made to Lender or fails to perform promptly at the time and strictly in
<br /> the manner provided in this Deed of Trust or in any agreement related to this Deed of Trust.
<br /> Complian�e Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust,the Note
<br /> or in any of the Related Documents. If such a failure is curable and if Borrower or Trustor has not been given a notice of a breach of
<br /> the same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured (and no Event of Default will have
<br /> occurred) if Borrower or Trustor, after Lender sends written notice demanding cure of such failure: (a) cures the failure within fifteen
<br /> (15) days; or (b) if the cure requires more than fifteen (15) days, immediately initiates steps sufficient to cure the failure and
<br /> thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably
<br /> practical.
<br /> Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or
<br /> insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> False Statements. Any representation or statement made or furnished to Lender by Borrower or Trustor or on Borrower's or Trustor's
<br /> behalf under this Deed of Trust,the Note, or the Related Documents is false or misleading in any material respect, either now or at the
<br /> time made or furnished.
<br /> Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (including failure
<br /> of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.
<br /> Death or Insolvency. The death of Borrower or Trustor, the insolvency of Borrower or Trustor, the appointment of a receiver for any
<br /> part of Borrower's or Trustor's property, any assignment for the benefit of creditors, any type of creditor workout, or the
<br /> commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Trustor.
<br /> Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of Borrower's or Trustor's
<br /> property in which Lender has a lien. This includes taking of, garnishing of or levying on Borrower's or Trustor's accounts with Lender.
<br /> However, if Borrower or Trustor disputes in good faith whether the claim on which the taking of the Property is based is valid or
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