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�7-1F-1999 DEED OF TRUST Page 4 <br /> Loan No 1042944 9 9 1112 2 0 (continued) <br /> part of the Indebtedness secured by this Deed of Trust; (b)a specific tax on Trustor which Trustor is authori�ed or required to deduct from <br /> payments on the Indebtedness secured by this lype of Deed of Trust; (c)a tex on this lype of Deed of Trust chargeable agafnst the Lender or <br /> the holder of the Note; and (d) a speciflc tex on all or any portion of the Indebtedness or on paymenis of principal and interest made by <br /> Trustor. <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 Default as <br /> provided below unless Trustor either (a)pays the ta�c before it becomes delinquent,or (b)contests the tex as provided above in the Ta�ces and <br /> Liens section and deposits with Lender cash or a sufficient corporate surety bond or other securiry 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 Ayreement. This instrument shall constitute a securily agreement to the extent any of the Property constitutes foctures or other <br /> personal property, and Lender shall have all of the rights of a secured perty under the Uniform Commercial Code as amended (rom time to <br /> time. <br /> Security Interest. Upon request by Lender,Trustor shall execute financing statements and take whatever other acHon is requested by Lender <br /> to perfect and continue Lender's securiiy interest in the Renis and Personal Property. In addltion to recording this Deed of Trust in the real <br /> property records,Lender may,at any time and without further authorizaHon from Trustor,file executed counterparts,copies or reproducdons of <br /> this Dsed of Trust as a financing statement. Trustor sheli reimburse Lender for all expenses incurred in perfecHng or conBnuing this security <br /> interest. Upon default,Trustor shall assemble the Personal Property in a manner and at a piece 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 paAy), from which informetlon concerning the security interest <br /> granted by this Deed of Trust may be obtained(each as required by the Uniform Commerciel Code),are as stated on the first page of this Deed <br /> of Trust. <br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relaHng to further assurances and attorney--in-fact are a part of this <br /> 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 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 o�and plac�s as Lender may deem appropriate,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, periect,continue, or <br /> preserve (a)the obligations of Trustor under the Note,this Deed of Trust,and the Related Documents,and (b)the Ifens and security interests <br /> created by this Deed of Trust on the Property,whether now owned or hereafter acquired by Trustor. Unless prohibited by lew or agreed to the <br /> contrary by Lender in writing,Trustor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in <br /> this paragraph. <br /> Attorney-tn-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 attomey�n-fact tor the purpose <br /> of making, executing, delivering, filing, recording, and dang all other things as may be necessary or desirable, in Lender's sole opinion, to <br /> accomplish the matters refened to in the preceding paragraph. <br /> FULL PERFORMANCE. If Trustor pays all the Indebtedness when due,and otherwise performs all the obligaHons imposed upon Trustor under this <br /> Deed of Trust, Lender shall execute and deliver to Trustea a request for full reconveyance and shall execute and deliver to Trustor suitable <br /> statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any <br /> reconveyance fee required by law shall be paid by Trustor,if permitted by appliceble law. <br /> DEFAI�T. Each of the following,at the opfion of Lender,shall constitute an event of default("Event of DefaulY�under this Deed of Trust: <br /> DeMult on Indebtedness. Failure of Trustor to make any payment wher�due on the Indebtedness. <br /> DeTst�it on'Otfiec Ptymenls,. �a�ure of Trustor within the dme required by-tFiis Deed,of Trust_to_.make any payment fcr taxes or Insurance,or <br /> any other payment necessary to prevent filing of or to effect discherge of any lien. <br /> Compliance Default. Faflure 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 /> Falae Stetements. Any warranty,representation or statement made or furnished to Lender by or on behaM of Trustor under this Deed of Trust, <br /> the Note or the Related Documents is false or misieading in any material respect,either now or at the time made or furnished. <br /> Defective Collateradizatlon. 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 or lien)at any time and for any reason. <br /> Death or Inaolvency. The death of Trustor, the insolvency of Trustor, the appantment of a receiver for any pert of Trustor's property, any <br /> assignment for the benefit ot creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or <br /> insolvency laws by or against Trustor. <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 govemmental 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 Ayreement. 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 conceming any indebtedness or other obligation of Trustor <br /> to Lender,whether e�dsting now or later.. <br /> Events Affectin�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 i1s 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 /> Inaecurity. Lender in good faith deems itself insecure. <br /> bcisting Indebtedness. A d�fault shall occur under�ny'Eidsting Indebtedness or under any instrumerit on the Property securing any Epsting <br /> Indebtedness,or commencement of any suit or other action to foreclose any e�dsting lien on the Property. <br /> Riyht to Cure. If such a failure is curable and if Trustor has not been given a nodce 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 will have occurred) if Trustor, after Lender sends written <br /> notice demanding cure of such failure: (a)cures the failure within ten(10)days;or (b)if the cure requires more than ten(10)deys,immediately <br /> initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps su(ficient to produce <br /> compliance as soon as reasonably practical. <br /> RIGHTS AND REMEDIES ON DEFAI�T. Upon the occurrence of any Event of Default and at any time thereafter,Trustee or Lender,at fis optlon, <br /> may exercise any one or more of the foilowing righis and remedies,in addition to any other rights or remedies provided by law: <br /> Acceleratlon upon DeMult; Addltlond Remedles. 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 notic:e 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 thereot,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,issuas and profits of the Property, including those past due and <br /> unpaid,and apply the same,less costs and expenses of operation and collection,induding 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 defeult or notice of defauit under this Deed of Trust <br /> .. ., i . <br /> - A � , � � , <br />