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��-22-1999 DEED OF TRUST 9 9 1113 3 � Pa� 4
<br /> Loan No 1044924 (Continued)
<br /> whatever other action is requested by Lender to perfect and contlnue Lender's lien on the Real Property. Trustor shell reimburse Lender for all
<br /> taxes, as described below, together with all expenses incurred fn recording, perfecting or condnuing this Deed of Trust, includfng wNhoW
<br /> limitation aii taxa5,fees,dxumentary stamps,and other chargeS for recording or registering thls Deed of Trust.
<br /> Ta�ces. The following shall consHtute taxes to which this section applies: (a)a specific tax upon this iype 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 authori�ed or required to deduct trom
<br /> payments on the Indebtedness secured by this type of Deed of Trust; (c)a tex on this type of Deed of Trust chergeeble aqainst the Lender or
<br /> the holder of the Note; and (d) a specific tax on all w any portion of the Indebtedness or on payments of principal and interest made by
<br /> Trustor.
<br /> Subsequent Taxes. If any tax to which this section epplies is enacted subsequent to the date of this Deed of Trust,this event shaN have the
<br /> same effect as an Event of Defauft(as defined below),and Lender may exeroise any or eH of its available remedies for an Event of Default 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 deposiis with Lender cash or a sutficient caporate surery bond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The fdlowinp provisions reladrp to this Deed of Trust as a security agreement are a part of
<br /> this Deed of Trust.
<br /> Security Ayreement. This instrument shaN consritute a securily agreement to the extent any of the Property constltutes flxtures or other
<br /> personal property, and Lender shall have all of the ri�hls of a sec�xed parly under the Uniform Commerdal Code as amended irom Hme to
<br /> 6me. �
<br /> Security Interest. Upon request by Lender,Trustor shail execute finanany statements and take whetever other action is requested by Lender
<br /> to pe�fect and c�n�nuei Lander'€sscurity vn'.ar�t��,!t�.-l�ents and Personal Properiy. In addiGon to recording this Deed of Trust in the real
<br /> propert�r records.Lender mey.at any dme and without(urther authorizaqon kom Trustor,llN�oc�cuwd counlerparts.copMs or reProductlons of
<br /> this Deed of Tnist as a flnanciny staternent. Trustor shaM reir��xse Lender for aN exper�aes�ncur�ed�n periacfln�or conUnuinp this security
<br /> interest. Upon default,Trustor shall assemble the Perscmal 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 giter receipt of written demand irom Lender.
<br /> Addresses. The mailing addresses of Trustor(debtor) and Lender (secured pariy), from which informaHon 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 flrst page of this Deed
<br /> of Trust.
<br /> FURTHER ASSURANCES; A7TORNEY-IN-FACT. The followiny provisions relating to further assura� and attorney--in-fact are a part of this
<br /> Deed of Trust.
<br /> Further Assurances. At any Bme,and from time to Ume, upon request of Lender,Trustor will make, execute and deliver, or will cause to be
<br /> made, executed or delivered, to Lend� or to Lender's designee, and when requested by lender, cause to be filed, recorded, reflled, w
<br /> rerecorded,as the case may be,at such times and in such o�and piaces as Lend�mey deem appropriate,any and all such mortgages,
<br /> deeds of trust,securiy deeds,securiiy agreements,flnancing statements,continuation statements,instruments of fu�ther assurance,c�rtificates,
<br /> and other documenls as may,in the sole opinion of Lender, be necessary or d�rable in order to effectuate, compiete, perfect,contlnue, or
<br /> preserve (a)the obligadons of Trustor under the Note,this Deed of Trust,end the Related Documents,and (b)the liens and securiiy interests
<br /> created by this Deed of Trust as first and prior liens on the Prope�iy,whett►er now owned or Nereafter acquired by Trustor. Unless prohibited by
<br /> law or agreed to the contrary by Lender in writlng,Trustor shall reimburse Lend�for afi cosls and e�en�es incurred in connecHon with the
<br /> matters referred to in this paragraph.
<br /> Attomey-in-Fect. 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, deiivering, filing, recording, and doing all other things as mey be �sary or desfrable, in Lender's sole opinion,to
<br /> axomplish the matters referred to in the precedirp paragreph.
<br /> FUl PERFORMANCE. If Trustor pays etl the Indebtedness,including without IimitaHon�all future advances,when due,terminates the line of credit,
<br /> and otherwise performs all the obligations imposed upon Trus#or under this Deed of Tn�st,Lender shaN execute and deliver to Truste6 a request for
<br /> iull reconveyance and shall execute and deliver to Trustor suiFable sta6ements�terminatlon of any flnancinp statement on flle evidencinp Lenders
<br /> securiiy interest in the Rents and the Personal Property. Any reconveyanc�•fee required by law shaN be paid by Trustor,M permitted by appl�able
<br /> law. � .
<br /> DEFAI�.T. Each of the following,at the op6on of Lender,shall constltute an event of de(aWt('fvoM of DefaulC')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 thls Deed of Trust to make any payment for taxes or insurance,or
<br /> any other payment necessary to prevent�ling of or to effect discharge of any lien.
<br /> Default in Favor of Third Parties. Should Borcower or any Trustor default under any loan,extension of credit,security agreement,purchase or
<br /> sales agreement, or any other agreement, in favor of any other creditor or p�son that may materially affect any of Borrower's property or
<br /> Borrower's or any Trustor's ability to repay the Loans or perform their respective obligations und�this Deed of Trust or any of the Releted
<br /> Documents.
<br /> Complit�ce Default. 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 /> Falee Statements. Any warranty,representation or statement mede or fumished to Lender by or on behalf of Trustor under this Deed of Trust,
<br /> the Note or the Related Dxuments is false or misleading in any material respect,either now or at the time made or furnished.
<br /> Detective Collateralizatlon. This Deed of Trust or any of the Related Dxuments ceases to be in fuN force and effect(including faflure of any
<br /> collateral documenis to create a valid and perfected security interest or lien)at any time and for any reason.
<br /> Death or InsoWency. The death of Trustor or the dissdudon or termination of Trustor's e�dstence as a gang business, the insolvency of
<br /> Trustor,the appantment of a receiver for any part of Trustor's property,any assignment for the beneflt of credftors,any type of creditor workout,
<br /> or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor.
<br /> Foreclosure,Forfelture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judiciel proceeding,self-help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmental ayency against any of the P�operty. However,this subsection shall not
<br /> apply in the event of a good faith dispWe by Trustor as to the velidity or reasonableness of the daim which is the basis of the foredosure or
<br /> forefeiture proceedi�g, 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 /> B�each of Other A�reement. Any breech by Trustor under the t�ms of any other agreement beiween Trustor and Lender that is not remedied
<br /> within any grace period provided theran,induding without limitation any agreement concerning any fndebtedness or other oblipation of Trustor
<br /> to Lender,wheth�e�dstinq now or later.
<br /> Events Affectinp 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 dispWes the vaUdity of,or IiabNity under,any Guaranry of the Indebtedr�ess. Lender,at Ns opdon,
<br /> may, but sheil not be required to, permit the Guarantor's estate to assume uncondiUonally the obligaHons arising under the guaranty in a
<br /> manner satisfactory to Lender,and,in doing so,cure the Event of Default.
<br /> Adverse Chanpe. A meterial adverse change occurs in Trustor's flnancial condition, or Lender believes the prospect of payment or
<br /> performance of the Indebtedness is impaired.
<br /> Ineecurity. Lender in good faith deems itself insecure.
<br /> Rlght to Cure. If such a failure is curable and if Trustor has not bee�given a notice of a breach of the same provision of this Deed of Trust
<br /> within the preceding Mrelve (12) months, it may be cured (and no Event of Defauft will have occurred) if Trustor, after Lender sends written ,
<br /> notic:e demanding cure of such failure: (a)cures the faAure within ten(10)days;or (b)H the cure requires more than ten(10)days,immediately
<br /> initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient to produce
<br /> compliance as soon as reasonably practical.
<br /> RIGFITS AND REMEDIES ON DEFAILT. Upon the occurrence of any Event of Defauft and at any dme thereafter,Trustee a Lender,at its option,
<br /> may exercise any one or more of the following rights and remedies,ln addition to any other rights or remedies provided by law:
<br /> AcceleraUon upon Default; Additlond Remed�es. If any event of default occurs as per the terms of the Note secured hereby,Lender may
<br /> declare all Indebtednass secured by this Deed of Tnist to be due and payable and the same sheN thereupon become due and payable wRhout
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