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��-05-1999 DEED OF TRUST Page 4
<br /> Loan No 1038116 (CoMinued) 9 9 110 '7 8 7
<br /> 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 agrsement 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 /> property records,Lender may,at any time and without further suthorization from Trustor,file executed counterparts,copies or reproductions of
<br /> this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecHng or conHnuing this security
<br /> interest. Upon default,Trustor shall assemble the Personal Property in a manner and at a place reasonably convenient to Trustor and Lender
<br /> 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 (secured pariy), from which information concerning the security interest
<br /> granted by this Deed of Trust may be obtained(each as required by the Uniform Commercial Code),are as stated on the first 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.
<br /> F�rther Assurances. At any time,�nd 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 flled, recorded, refiled, or
<br /> rerecorded,as the case may be,at such times and in such offic�s and places as Lender may deem appropriate,any and all such mortgag�,
<br /> deeds of trust,security deeds,security agreements,financing statements,continuation statements,instruments of further assurance,certiflcates,
<br /> and other documents as may, in the sole opinion of Le�der, be necessary or desirabte 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 to the contrary by Lender in writing,Trustor shall reimburse Lender for all cosls and e�enses incurred in connection with the
<br /> matters referred to in this paragraph.
<br /> Atlomey-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 of
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby irrevocably appanls Lender as Trustor's attorney-in-fact for the purpose
<br /> of making, executing, 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 obligations
<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 Iaw shall be paid by Trustor,if permitted by applicable law.
<br /> OEFAULT. Each of the following,at the option of Lender,shall constitute an event of default("Event of DefaulY�under this Deed of Trust:
<br /> Default on Indebtedness. Failure of Trustor to make any payment when due on the Indebtedness.
<br /> Default on Other Payments. Failure 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 filing of or to effect discharge of any lien.
<br /> Compllance Default. Failure of Trustor to comply with any other term, obligadon, covenant or condition contained in this Deed of Trust,the
<br /> Note or in any of the Ralated 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 material respect,either now or at the time made or furnished.
<br /> Defective Coltaterolization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any
<br /> collateral documents to create a valid and perfected security interest w lien)at any Hme and for any reason.
<br /> Insolvency. The dissolution or termination of Trustor's e�dstence as a going business,the insolvency of Trustor,the appointment of a receiver
<br /> for any part of Trustor's property, any assignment for the benefit of creditors, any type of creditor woricout, or the commencement of any
<br /> proceeding under any bankruptcy or insolvency laws by or against Trustor.
<br /> Foreclosure,Forfeiture,etc. Commencement of foreclosure or forfeiture proc�edings,whether by judicial proceeding,seif-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 reasonableness 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 beiween Trustor and Lender that is not remedied
<br /> within any grace period provided therein,including without IimitaHon 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 /> Insecurity. Lender in good faith deems itself insecure.
<br /> Right to Cure. If such a failure is curable and if Trustor has not been given a notice 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 Defauft will have occurred) if Trustor, after Lender sends written
<br /> notice demanding cure of such failure: (a)cures the failure within fifteen (15) days; or (b) if the cure requires more than fifteen (15) days,
<br /> immediately initiates steps suificient to cure the failure and thereaRer continues and completes all reasonable and necessary steps sufficient to
<br /> produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAU.T. Upon the occurrence of any Event of Default and at any time thereafter,Trustee or Lender,at its optlon,
<br /> may exercise any one or more of the following rights and remedies,in addiHon to any other rights or remedies provided by law:
<br /> Acceleration upon Default; Additlonal 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. ThereaRer,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 collecHon,including attorneys'fees,to any indebtedness secured
<br /> by this Deed of Trust,all in such order as Lender may determine. The entering upon and taking possession of the Property,the collection
<br /> of such rents,issues and profits,and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust
<br /> or invalidate any act done in response to such default or pursuant to such notice of defauit; and, notwithstanding the continuance in
<br /> possession of the Property or the collection, receipt and applicetion of rents, issues or profits, Trustee or Lender shall be entiBed to
<br /> exercise every right provided for in the Note or the Related Documents or by law upon the occurrence of any event of default,including the
<br /> right to exercise the power of sale;
<br /> (b) Commence an action to foreclose this Deed of Trust as a mortgage,appoint a receiver or specifically enforce any of the covenants
<br /> hereof;and
<br /> (c) Deliver to Trustee a written declaration of default and demand for sale and a written nofice of default and election to cause Trustors
<br /> interest in the Property to be sold,which notice Trustee shall cause to be duly flled fo�record in the appropriate offic�s of the County In
<br /> which the Property is located;and
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