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�1-�6-1999 99 111572 DEED OF TRUS� ° ;.. �, ;� �, � �� �,j� Page 5 <br /> , Loan No 765606 (Continued) � • `;�`s'°���+� �`, � <br /> � <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 authorization 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 perfecting or continuing 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 party), 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 /> 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�ces and places 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, 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 r�ow owned or hereafter acquired by Trusf�r. Unless prohibited by <br /> law or agreed to the contrary#�y Lenden in°wriNrag;-Txustor shatt retmburse Lender Tor all costs and expenses incurced in connection with the <br /> matters referred to in this paragraph. <br /> Attorney-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 appoints 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,including without limitation all future advances,when due,terminates the line of credit, <br /> and otherwise performs all the obligations imposed upon Trustor under this Deed of Trust,Lender shall execute and deliver to Trustee a request for <br /> full reconveyance and shall execute and deliver to Trustor suitabie statements of termination of any financing statement on file evidencing Lender's <br /> security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor,if permitted by applicable <br /> law. <br /> DEFAULT. 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 /> Compliance 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 /> 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 /> Detective Collateralimtion. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any <br /> coilateral 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, <br /> or the commencement of any proceeding under any bankruptcy or 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 methcui,by any creditor of Trustor or by any�overnmental,agency against a�y of the Property. 3iowever,this subsection shali not <br /> apply in the avent of a good fiaith dispute by Trustor as :o the vaiidity or reasonableness of the ciaim which is tha basis of the foreclosure or <br /> forefeiture proceeding, provided that Trustor gives Lender written notice of such claim and furnishes roserves 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 Atfecting 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. <br /> Events Affecting Co-Borrowers. Any of the preceding events occurs with respect to any co-borrower of any of the Indebtedness or any <br /> co-borrower dies or becomes incompetent,or revokes or disputes the validity of,or liability under,any of the Indebtedness. <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 /> 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 Iaw: <br /> Acceleration upon Default; Additional Remedies. If any event of defauit occurs as per the terms of the Note secured hereby, Lender may <br /> declare all Indebtedness secured by this Deed ot 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 />