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��-��-1999, ` �� . 9«9 t 11114 5 DEED OF TRUST p.:ge 4 --
<br /> Loan No 1043363 (Continued)
<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 have the
<br /> same effect as an Event of Default(as defined below),and Lender may exercise any or all of its available remedies for an Event of Defaufl as
<br /> provided below unless Trustor either (a)pays the tax before it becomes delinquent,or (b)contests the tax as provided above in the Taxes and
<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 agreement are a part of
<br /> this Deed of Trust.
<br /> Security A�reement. This instrument shall constitute a securiiy agreement to the extent any of the Property constitutes fbctures or other
<br /> personal property, and Lender shall have all of the rights of a secured party under the Uniform Commerciel Code as amended from dme to
<br /> time.
<br /> SecuNty Interest. Upon request by Lender,Trustor shall execute financing statements and take whatever other acHon is requested by Lender
<br /> to perfect and continue LendePs security interest in the Renis 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 authorization irom Trustor,flle executed counterparts,copies or reproductions of
<br /> this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all e�e�incurred in perfectiny or condnuing this securiiy
<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 irom Lender.
<br /> Addresses. The mailing addresses of Trustor(debtor) and Lender (secured party), from which information conc:erning the securiiy 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-ir�fact are a part of this
<br /> Deed of Trust.
<br /> Further Assurances. At any time, and from time to Hme, upon request of Lender,Trustor wN�make, execute and deliver, w wHl 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, reflled, or
<br /> rerecorded,as the case may be,at such times and in such o�and places as lender may deem appropriate,any and all such mortgeges,
<br /> deeds of trust,security deeds,security agreements,financing statements,continuation statements,instrumenfs of further assurance,cerlificates,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate,complete, perfect,contlnue, or
<br /> preserve (a)the obligaHons of Trustor end Borrower under the Note, this Deed of Trust,and the Related Dxuments,and (b)the Ifens and
<br /> security interests created by this Deed of Trust as first and prior liens on the Property,whether now owned or hereaffer acqufred by Trustor.
<br /> Unless prohibited by law or agreed to the contrary by Lender in writing,Trustor shall reimburse Lender for all costs and eucpenses incurred in
<br /> connection with the 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, Lender may do so for and in the name of
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby irrevocably appants 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 necaSSary or desireble, in Lender's sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph.
<br /> FULL PERFORMANCE. If Borrower pays all the Indebtedness when due,and otherwise performs all the obligations imposed upon Trustor under
<br /> this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shal� execute and d�liver to Trustor suitable
<br /> statements of termination of any financing statement on file evidenang Lender's securiiy interest in the Renis and the Personal Prope�ty. Any
<br /> 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 /> Default on Indebtedness. Failure of Borrower to make any payment when due on the Indebtedness.
<br /> DeMult on Other Payments. Failure of Trustw within the dme required by this Dsed 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 /> Default in Favor of Third Partles. Should Borrower or any Trustor default under any loan,extension of credit,securiiy agreement,purchase or
<br /> sales agreement, or any other agrsement, in favor of any other creditor or person that may materially affect any of Borrower's property or
<br /> Bonower's or any Trustor's abiliiy to repay the Loans or perform their respective obligatior�s under this Dsed of Trust or any of the Related
<br /> Documents.
<br /> Compliance Default. Failure of Trustor or Borrower to comply with any other term,obllgation,covenant or condition contained in this Deed of
<br /> Trust,the Note or in any of the Related Documenis.
<br /> False Statements. Any warranty,representation or stetement mede or fumished to Lender by or on behalf of Trustor a Borrower under this
<br /> Deed of Trust,the Note or the Related Dxuments is faise or misieading in any material respect,either now or at the Hme made or furnished.
<br /> Detective Collate�alization. This Deed of Trust or any of the Related Dxuments ceases to be in full force and effect(including feflure of any
<br /> collateral documenis to create a valid and perfected securiy interest or lien)at any time and for any reason.
<br /> Death or Insolvency. The death of Trustor or Borrower,the insolvency of Trustor or Borrower, the appointment of a recefver for any part of
<br /> Trustor or Borrower's properiy, any assignment for the benefit of creditors, any type of creditor worlcout, or the commencement of any
<br /> proceeding under any bankruptcy or insolvency laws by or against Trustor or Borrower.
<br /> Foreclosure,Forfeiture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,self-help,repossession
<br /> or any other method,by any credltor of Trustor or by any governmental agency against any of the Property. However,this subsecNon shall not
<br /> apply in the event of a good faith dispute by Trustor as to the validity or reasonableness of the cleim 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 daim
<br /> satisfactory to Lender.
<br /> Breach of Other Agreement. Any breach by Trustor or Borrower under the terms of any other agreement between Trustor or Borrower and
<br /> Lender that is not remedied within any grace period provided therein,including without limitation any agreement concerning any indebtedness
<br /> or other obligation of Trustor or Borroweir to Lender,whether existing now or later.
<br /> Events Affectiny Guerantor. 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 opHon,
<br /> may, but shall not be required to, permit the Guarantor's estete to assume unconditionelly the obiigetions arising under the gueranty in a
<br /> manner satisfactory to Lender,and,in dang so,cure the Event of Default.
<br /> Adverae Chanye. A material adverse change occurs in Borrower's financiai condition, or Lender beiieves the prospect of payment or
<br /> performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith deems itself insecure.
<br /> Right to Cure. If such a failure is cureble and ff Trustor or Borrower has not been given a notice of a breach of the same provision of this Deed
<br /> of Trust within the preceding twelve (12) months, it may be cured (and no Event of Default wi�l have oocurred) N Trustor or Borrower, after
<br /> Lender sends written notice demanding cure of such failure: (a)cures the failure within fiffeen(15)days;or (b)if the cure requires more than
<br /> fifteen(15)days,immediately initiates steps sufficient to cure the failure and thereafter condnues and completes all reasonable and necessary
<br /> steps suificient to produce compliance as soon as reasonably prectical.
<br /> RIGHTS AND REMEDIES ON DEFAtLT. Upon the occurrence of any Event of Defeult 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 lew:
<br /> Acceleratlon upon Default; Additional Remedies. If any event of default occurs as per the terms of the Note secured hereby,Lender may
<br /> declare all Indebtedness secured by ihis 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. Th�eafter,Lender may:
<br /> (a) Either in person or by agent, with or without bringing any action or proceeding, or by a rec;eiver appointed by a court and without
<br /> regard to the adequacy of iis security,enter upon and take possession of the Property,or any part thereof,in its own name or tn the name
<br /> of Trustse,and do eny acts which it deems necessary or desirable to preserve the value,marketability or rentabiiiiy of the Property,or part ;
<br /> of the Property or interest in the Property;increase the income from the Properly or protect the security of the Property;and,wfth or without
<br /> taking possession of the Property,sue for or otherwise collect the rents,issues and profits of the Property, inciuding those past due and
<br /> unpaid,and apply the same,less cosls and expenses of operaHon and coilecdon,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 Properiy,the collecUon
<br /> of such rents,issues and proflts,and the application thereof shall not cure or waive any defauft or notice of default under this Deed of Trust
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