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� '10-08-1999 � DEED OF ` T Pag� 4
<br /> Loan No 99547 9 9 ! 1.� � � Q (Continued)
<br /> � Taxes. The following shall consUtute taxes to which this section applies: (a)a specific tax upon this type of Deed of Trust or upon all or any
<br /> part of the Indebtedness seCUred by this Deed of Trust; (b)a specific tax on Trustor which Trustor is authorized or required to deduct from
<br /> i payments on the Indebtedness seCUred by this type of Deed of Trust; (c)a tax on this type of Deed of Trust chargeable against the Lender or
<br /> the holder of the Note; 8nd (d)'8 spedflc'tex on all or any portion of the Indebtedness or on payments of principal and interest made by
<br /> Trustor.
<br /> Subaequent Taxes. If any tex to which this sectlon ��
<br /> � subsequent to the date of this Deed of Trust,this event shall have the
<br /> same effect as an Event of Default(as defined below),artd,. ': any or all of its available remedies for an Event of Default as
<br /> provided below unless Trustor either (a)pays the tax before k `'�� 5'� ' t,pr (b)contests ihe tax es provided above in the Taxes and
<br /> Llens section and deposits with Lender cash or a sufficient corporate sure'ty�on` or other security sadsfactory to Lender.
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions retaHnp to this Deed of Trust as a securiy agreement are a part of
<br /> this Deed of Trust.
<br /> SeCUrity Agreement. This instrument shall constitute a security agreement to the extent any of the Property constitutes fixtures or other
<br /> personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to
<br /> time.
<br /> Security Interest. Upon request by Lender,Trustor shall execute financing statements and take whatever other action is requested by Lender
<br /> to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real
<br /> properfy reCOrds, Lender may,at any time and without further authorization from Trustor,file executed counterparts,copies or reproductions of
<br /> this Deed ot Trust fls a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security
<br /> con. Lender
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<br /> Addresses. The mailing addresses of Trustor (debtor) and Lender (secured paAy), from whlc nformetton conceminp the sscurity Mterest
<br /> granted by this Deed of Trust may be obtained(each as required by the Uniform Commercfal Code),are as stated on the flrst page of this Deed
<br /> of Trust.
<br /> FURTHER ASSURANCES; ATTORNEY—IN—FACT. The following provisions relating to further assurances and attorney—in—fact are a part of this
<br /> Deed of Trust. I`
<br /> Further Assurances. At any time, and from time to time, upon request of Lender,Trustor will make, execute and deliver, or will cause to be �
<br /> made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or
<br /> rerecorded,as the case may be,at such times and in such offices and places as Lender may deem appropriata,any and all such mortgages,
<br /> deeds of trust,security deeds,security agreements,financing statements,continuation statements,instruments of further assurance,certificates,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or
<br /> preserve (a)the obligations of Trustor under the Note,this Deed of Trust,and the Related Documents,and (b)the liens and security interests
<br /> created by this Deed of Trust as first and prior liens on the Property,whether now owned or hereafter acquired by Trustor. Unless prohibited by
<br /> law or agreed ta the contrary by Lender in w�iting,Trustor shall reimburse Lender for all costs and expenses incurred in connection with the
<br /> matters referred to in this paragraph.
<br /> Attomey—In—Fact. If Trustor fails to do any of the things referred to in the preceding paragraph, Lander may do so for and in the name of
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby irrevocably appoints Lender as Trustor's attorney—in—fact for the purpose
<br /> of making, execu�ng, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph.
<br /> FULL PERFORMANCE. If Trustor pays all the Indebtedness when due, terminates the line of credit, and otherwise performs all the obiigations
<br /> imposed upon Trustor under this Deed of Trust,Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and
<br /> deliver to 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 /> DEFAI�T. Each of the following,at the option of Lender,shall constitute an event of default("Event of DefaulY')under this Deed of Trust:
<br /> Defeult on Indebtedness. Fa'ifure of 7rustorto make any paymenl�wffen due on the Indebtedness. " '-'
<br /> Defeult on Other Peyments. Faiture of Trustor within the time required by this Deed of Trust to make any payment for taxes or Insurance, or
<br /> any other payment necessary to prevent flling of or to effect discharge ot any lien.
<br /> Compliance Detault. Failure of Trustor to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the
<br /> Note or in any of the Related Documents.
<br /> False Statements. Any warranty,representation or statement made or furnished to Lender by or on behalf of Trustor under this Deed of Trust, �
<br /> the Note or the Related Documents is false or misleading in any materiai respect,either now or at the time made or furnished. i
<br /> Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any i
<br /> collateral documents to create a valid and perfected security interest or lien)at any time and for any reason.
<br /> Death or Insolvency. The death of Trustor or the dissolution or termination of Trustor's existence as a going business, the insolvency of
<br /> Trustor,the appointment of a receiver for any part of Trustor's property,any assignment for the benefit of creditors,any type of creditor workout, i
<br /> or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor. I
<br /> ForeClosure,Forfeiture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,self—help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmental agency against any of the Property. However,this subsection shall not
<br /> apply in the event of a good faith dispute by Trustor as to the validity or reasonabieness of the claim which is the basis of the foreclosure or
<br /> forefeiture proceeding, provided that Trustor gives Lender written notice of such claim and furnishes reserves or a surety bond for the claim
<br /> satisfactory to Lender.
<br /> Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that is not remedied
<br /> within any grace period provided therein,including without limitation any agreement concerning any indebtedness or other obligation of Trustor
<br /> to Lender,whether existing now or later.
<br /> Events AffECting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br /> dies or becomes incompetent, or revokes or disputes the validity of,or liability under,any Guaranty of the Indebtedness. Lender,at its option,
<br /> may, but shall not be required to, permit the Guarantor's estate to assume unconditionally the obligations arising under the guaranty in a
<br /> manner satisfactory to Lender,and,in doing so,cure the Event of Default.
<br /> Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or
<br /> performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith deems itself insecure.
<br /> Riqht to Cure. If such a failure is curable and if Trustor has not been given a no4ice of a breach of the same provision of this Deed of Trust
<br /> within the preceding twelve (12) months, it may be cured (and no Event of Default wili have occurred) if Trustor, after Lender sends written
<br /> notice demanding cure of such failure: (a) cures the failure within twenty(20) days; or (b) if the cure requires more than iwenty(20) days,
<br /> immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient to
<br /> produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter,Trustee or Lender,at its option,
<br /> may exercise any one or more of the following rights and remedies,in addition to any other rights or remedies provided by law:
<br /> Acceleratlon upon Default; Addit(onal Remedies. If any event of default occurs as per the terms of the Note secured hereby, Lender may
<br /> declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and payable without
<br /> any presentment,demand,protest or notice of any kind. Thereafter,Lender may:
<br /> (a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without
<br /> regard to the adequacy of its security,enter upon and take possession of the Property,or any part thereof,in its own name or in the name
<br /> of Trustee,and do any acts which it deems necessary or desirable to preserve the value,marketability or rentability of the Property,or part
<br /> of the Property or interest in the Property;increase the income from the Property or protect the security of the Property;and,with or without
<br /> taking possession of the Property,sue for or otherwise collect the rents, issues and profits of the Property, including those past due and
<br /> unpaid,and apply the same,less costs and expenses of operation and collection,to any indebtedness secured by this Deed of Trust,al�in
<br /> such order as Lender may determine. The entering upon and taking possession of the Property,the collection of such rents, issues and
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