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<br /> 11. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall irtmediately provide Lender with written notice of any actual or �
<br /> threatened action,suit,or other proceeding affecting the Property. GraMor hereby appoirrts Lender as its attomey-in-fact to corTxnence,irrtervene in,and ' :
<br /> defend such actions,suils,or other legal proceedings and to compromise or settle any daim 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 shall not assume or be responsible for the performance of any of Grantor's obligations with respect to the Property under . :
<br /> any circumstances. Grantor shall immediately provide Lender with written notice of and indemnify and hold Lender and its shareholders,directors,offic�rs, + _
<br /> employees and ageMs harMess from all daims, 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 Malerials). Grantor,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 cosis incurred in
<br /> connection therewith. In the attemative, Lender shall be entitled to employ its own legal counsel to defend such Claims at Grantor's cost. Grantor's :
<br /> obligation to indertnify Lender under this paragraph shall survive the termination,release or foreclosure of this Deed of Trust.
<br /> 13. TAXES AND ASSESSMENTS. Granior shall pay all taues and assessments relating to Property when due and irmiediately provide Lender evidence :
<br /> of payment of same. Upon the request of Lender, Grantor shall deposit with Lender each month one-twelfth (1/12) of the estimated annual insurance
<br /> premium,taxes and assessmerrts pertaining to the Property. So long as there is no default, these amounts shall be applied to the payment of taxes,
<br /> assessmerrts and insurance as required on the Property. In the everA of default,Lender shall have the right,at its sole option,to apply the funds so held to :
<br /> pay any taxes or against 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. Grantor shall allow Lender or its agents to examine and inspect the Property
<br /> and examine,inspect and make copies of Grantor'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 coMained in Grantor's books and records shall be genuine,true,accurate and
<br /> complete in all respects. Grarrtor shall note the existence of Lender's beneficial imerest in its books and records pertafning to the Property. Addltionelly,
<br /> Grantor shall report,in a form satisfactory to Lender,such irrformation as Lender may request regarding Grantor's financial condition or the Property. The :
<br /> information shall be for such periods,shail reflect Grantor's records at such time,and shall be rendered whh such frequency as Lender may designate. All
<br /> information fumished by Grantor to Lender shall be true,axurate and complete in all respects,and signed by Grantor if Lender requesta :
<br /> 16. ESTOPPEL CERTIFICATES. Wrthin ten(10)days after any request by Lender,Grantor shall deliver to Lender,or any iMended transferee of Lender's :
<br /> rigMs with respect to the Obligations, a signed and adviowledged statemerrt speafying(a)the outstanding belance on the Obligations;and(b)whether
<br /> Grantor possesses any daims,defenses,set-offs or counterdaims with respect to the Obligations and,if so,the nature of such daims,defenses,set-offs or
<br /> courrterdaims. Grarnor wfll be condusively bound by any representation that Lender may make to the intended transferee with respect to these matters in :
<br /> the eveM that Grantor fails to provide the requested statement in a timely manner. :
<br /> 16. DEFAULT. Grantor shall be in defauk under this Deed of Trust and the Trustee's power shall bec:ome operative in the event that Grarrtor,Borrower or
<br /> any guaraMOr 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 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 Ilability under any guaranty to Lender, :
<br /> (e) dies,becomes legally incompeterrt, is dissolved or terminated,becomes insoNern,makes an assignmerrt for the benefit of creditors,fails to pay :
<br /> debts as they become due,files a peiition under the federal banlwptcy laws,has an involuntary petition in banlwptcy filed in which Grantor,Borcower
<br /> or any guarantor is named,or has properry taken under any writ or process of courr :
<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 fiself insec:ure due to a significant dedine in the value of the Property;or if Lender,in good faith,for any reason,believes :
<br /> that the prospect of paymerrt or performance is impaired. :
<br /> 17. RIGHTS OF LENDER ON DEFAULT. If there is a default under this Deed of Trust,Lender shall be errtitled to exerase one or more of the following
<br /> remedies without notice or demand(except as required by law):
<br /> (a) to dedare the Obligations irtmediately due and payable in full; :
<br /> (b) to coliect the outstanding Obiigations wfth 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 /> convenierrt to Grantor and Lender;
<br /> (d) to errter upon and take possession of the Property without applying for or obtaining the appointment of a receiver and, at Lender's option,to :
<br /> appoirrt a receiver without bond, without first bringing suit on the Obligations and without othervvise 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 ageM 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 rents,incomes,issues and proftts of the Property and apply the same,after payment of all necessary charges and expenses,on acxount of
<br /> the Obligations;
<br /> (fl to pay any sums in any form or manner deemed expediern by Lender to protect the security of this Deed of Trust or to cure any default other than :
<br /> paymerrt of interest or prinapal on the Obligations;
<br /> (g) to foredose this Deed of Trust judidally or nonjudiaally and to direct the sale of the property through exercise of the power of sale as referenced in
<br /> paragraph 20 hereof in acccordance with applicable law;
<br /> (h) to set-off GraMor's Obligations against any amourrts owed Grarrtor by Lender including, but not limited to, mcnies, instruments, and deposit
<br /> axourns malrrtained with Lender or any currently exisiing or firture affiliate of Lender;and :
<br /> (i)to exercise all other rigMs avaflable to Lender under any other wriiten agreement or applicable law. :
<br /> Lender's rigMs are cumulative and may be exerased together, separately, and in any order. In the everrt that Lender institutes an action seeldng the
<br /> recovery of any of the Property by way of a prejudgmerit remedy in an action against Grantor, Grantor waives ihe posting of any bond which might
<br /> otherwise be required. Lender or Lender's designee may purchase the Property at any sale. Proceeds of any Trustee's sale hereunder shall be applied
<br /> first,to the costs and expenses of exerasing the power of sale and of the sale, induding the payment of the Trustee's fees actually incurred and not to
<br /> exceed the amount which may be provided for in this Deed of Trus1,second,to paymem 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 entitled 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 discxetion may elect,and one or more exercises of the power herein granted
<br /> shall not extinguish or exhaust the power unless the entire properry is sold or the obligations are paid in fulL :
<br /> 18. TRUSTEE'3 EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to sell Grantor's irrterest in the Property by exercise of the power of
<br /> sale herein corrtained,Lender shall notity 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 mey 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 Iaw and afler 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 /> expedient,and in such order as it may determine,at public auction to the highest bidder for cash in lawful money of 1he 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, but without any covenarrt or warranty, express or implied. The recitals in such deed of any matters or facts shaii be
<br /> condusive proof of the truihfulness thereof. Any person,induding,without limitation,Grarrtor,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: Grantor requesis that a copy of any notice of default 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.12187 Pape 3 d 6 �
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