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��-26-1999 9 9 i i 15 $ $ � DEED OF TRUST Paqe 4
<br /> Loan No 1049873 (Continued)
<br /> payments on the Indebtedness secured by this type of Deed of Trust; (c)a tax on this type of Deed of Trust char�eable a�ainst the Lender or
<br /> the holder of the Note; and (d) a specific tax on aN or any poAion M the Indebtedness or on payments of principal and interest made by
<br /> Trustor.
<br /> Subaequent Taxes. If any tex to which this section applies is enacted subsequent to the date of this Deed of Trust,this event shaN have the
<br /> same effect as an Evenf of Default(as defined below),and Lender may euercise any or aN of its available remedies for an Event of DehuR as
<br /> provided below unless Tn�stor either (s)pays the tax before ft becomes delinquent,or (b)contests the tex as provided above in the Taxaa and
<br /> Liens section and deposits with Lender cash or a sufficient corporate sureiy bond or other securiiy satlsfactory to Lender.
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The followinp provisions relatinp to this Deed of Trust as a securtty agreement are a part of
<br /> this Deed of Trust.
<br /> Security A�reement. This instrument shall cor�sHtute a security agreement to the extent any of the Property consdtutes Nxturoa or other
<br /> personal property, and Lender shaA have all of the righ� of a secured party under the Uniform Commercial Code as amended trom tlme to
<br /> time.
<br /> Securiy Interest. Upon request by Lender,Trustor shall execute financirq statements and take whatever other actlon is requested by Lender
<br /> to perfect and continue Lender's secu�ity interest in the Fienis and Personal Properly. In additio� to recordinp this Deed of Trust in the real
<br /> property records,Lender may,at any time and without hxther authorization irom Trustor,file executed counterparts,copies or reproducdons of
<br /> this Deed of Trust as a flnancing statement. Trustor shaN reimburse Lender for aN e�erwses incumsd in perfecrinq or contlnuinp tF�s securiiy
<br /> interest. Upon default,Trustor shall assemble the Personal Property in a manr►er and at a place reasonably convenient to Trustor and Lender
<br /> and make it available to Lender within three(3)days afler receipt of written demand from lender. '
<br /> Addresaea The maipng addresses of Trustor (debfor) and Lender (secured party), trom which informatlon concernirp ths sacurHy I�tenat
<br /> Qraniod by this Dee�oE Trw#may bs ob�ined(each as required by the Uniform Commercial Code),are as stated on the first pape of this Deed
<br /> of Trust.
<br /> FURTHER ASSURANCES; ATTORNEV-IN-FACT. The foNowinp provisfons reletlnq to furthsr essurances and aHaney-ir�-fact are a part of this
<br /> Deed of Trust.
<br /> Further Aseurances. At any time,and irom tlme to gme, upon request oi Lender,Trustor wfN meke,execute and deAver, or wiil cause to bs
<br /> made, executed or delivered, to Lender or to Lender's desipnee, and when requested by Lender, cause to be filed, recorded, reflled, or
<br /> rerecorded,as the case may be,at such dmes and in such o�and places as Lender may deem appropriate,any and all such mortgapes,
<br /> deeds of trust,security deeds,securiy agreemenis,financing statemenis,continuaHon statements,instruments of turther assurance,certlficates,
<br /> and othet dxuments as may, in the sole opinion of Lendgr, be nec�ssary or desirable in order to effectuate,complete,perfect,contlnue, or
<br /> preserve (a)the obli�aHons of Trustor under the Note,this Deed o(Trust,and the Related Documents,and (b)the Nens and security interests
<br /> created by this Deed of Trust on the Property,whether now owned or hereafter acquired by Trustor. Unless prohitiited by law or aflreed to fhe
<br /> contrary by Lender in writinp,Trustor sheN reimburse Lender for aN cos�and e�er�se9 incurred in connection with the mattars refarred to in
<br /> this parayraph.
<br /> Attorney-In-Fsct. If Trustor fails to do any of the things referred to in the precedin� 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-arNact for the purpose
<br /> of making, executlng, delivering, filing, recording, end doinp tN othar thinpa as may be necessary or desirable, in Lender's sole opiMon, to
<br /> accomplish the matters referred to in the preceding paraqraph.
<br /> FU1 PERFORMANCE. If Trustor pays all tha Indebtedness when due, terminates the Nne of credit, and otherwise performs all the obliyaUons
<br /> imposed upon Trustor under this Deed of Trust,Lender shaN execute and deliver to Trustee a request for fuN reconveyance and shall eocecute and
<br /> deliver to Trustw suitable statements of termination of any financing statement on file evidencin� Lender's security interest in the Rents and the
<br /> Personal Property. Any reconveyance fee required by law shaN be paid by Trustor,if permitted by applicable law.
<br /> DEFAULT. Each of the fdlowin�,at the optlon of Lender,sheN constltute an event of default('fvent of Default'�under this Deed of Trust:
<br /> DeMuR on Indebtedness. Failure of Trustor to make any payment when due on the Indebtedness.
<br /> Default on Other Payments. �FaNure of TrustOr wfthin the Hme required by this Deed of Trust to make any payment for taxe�or insurance,or
<br /> any other payment necessary to prevent filirig of or fo effect discharpe of any Nen.
<br /> Compliance Detault. Failure of Trustor to comply with any other term, obiipatlon,covenant or condition contained in this Deed of Trust,the
<br /> Note or in any of the Related Documents.
<br /> False StMements. Any warranty,representation or statement made or furnished to Lender by or on behalf of Trustor under fMs Dsed of Tn�st,
<br /> the Note a the Related Documents is false or misleadin�in any materiel respect,e�her now or at the time made or furnished.
<br /> Defectfve Collalsrdtzation. This Deed of Trust or any of the Related Documenis ceases to be in full force and effect pndudfrp failure of any
<br /> cdl�teral dxuments to create a vaNd and perfected security interest or lien)at any tlme and for any reason.
<br /> Death or Insolvency. The death of Tr�tor, the insolvency of Trustor, the appoiMment of s receiver for any part of Trustor's property, any
<br /> assignment for the beneflt of creditors, any type of creditor woricout, or the commencement of any proc�edirp under any bankruptcy or
<br /> insolvency laws by or ega(nst Trustor.
<br /> Forecbwrs,Forleiture,�. Commencement of foraciosure or fa�feiture proc�edings,whether by judicial proceedinp,aalf-help,repossas'ion
<br /> or any other method,by any credkor of Trustor or by any gov�nmentai aqency aqainst any of the Property. However,this subsectlon shaN not
<br /> apply M the event of a good taith dispute by Trustor as to the vaNdity or reasonabkness of the claim which is the basis of tha toreci�un or
<br /> forefeiture proceeding, provided that Trustor pives Lender written noHce of such cWm and itxnishes re,serves or a aurety bond for the claim
<br /> saHsfactory to Lender.
<br /> Breach of Other Ayreement. Any breach by Trustor under the terms of any other agreement beiween Trustor and Lender that is not remed(ed
<br /> within any grace period provided therein,including without NmitaHon any agreemeM concerning any indebtedness or other obN�atlon of Trustor
<br /> to Lender,whether existiny now or Iater.
<br /> Events Affectin�Guerantor. Any of the preceding events axurs with respect to any Guarantor of any of the I�debtedness or arry Gt�arantor
<br /> dies or becomes incompetent,or revokes or disputes the vaNdiy of,or liability under,any Guaranty of the Indebtedness. Lender,at ils optlon,
<br /> may, but shaN not be required to, permit the Guarantor's estate to assume unconditionaliy the obligations arising under tha puaranty M a
<br /> manner sabsfactory to Lender,and,in darp so,cure the Event of DefauN.
<br /> Insecurlty. Lender in�ood faith deems itself i►uecure.
<br /> Exisdn�Indebiednsss. A default shaH occur under any EbsUnp Indebtedn�s or under any instrument on the Property securinp any Exisdnp
<br /> Indebtedness,or commencemerrt of any suit or othsraclion to foreclose any e�dstir�p lien on!he Property.
<br /> Ri�ht 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 precedinp twelve (12) months, it may be cured (and no Event of Default will have occurred) if Trustor, after Lender sends wrilten
<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)days,immsdiately
<br /> initiates steps sufficient to cure the failure and thereatter contlnues and completes aN reasonable and necessary steps sufRcient to produce
<br /> compliance as soon as reasonebly practical.
<br /> RIGHTS AND REMEDIES ON DEFAI�.T. Upon the occurrence of any Event of Defauft and at any tlme thereefter,Trustee or Lender,at Ils optlon,
<br /> may exercise any one or more of the foHowing rights and remedies,in addition to any otFwr rights or remedies provided by lew:
<br /> Acceleration upon Default; Additional Remedies. If sny event of default occurs as per the terms of the Note secured hereby,Lendsr may
<br /> declere all Indebtedness secured by this Deed of Trust to be due and payable and the same shell thereupon become due and payable wRhout
<br /> any presentment,demand,protest or no6ce of any kind. Thereafter,Lender may:
<br /> (a) Either in person or by agent, with or without bririgirp any actlon or proceeding, or by a receiver appointed by a court and without
<br /> regard to the adequacy of its securiry,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 acis which it deems necessary or desirable to preserve the value,marketabiNty or rentability of ths Property,or part
<br /> of the Property or interest in the Property;increase the income from ths Property or protect the securiy of the Property;and,with or wiM�o�
<br /> taking possession of the Property,sue for or otherwise coNect the rents,issues and proflis of the Property,includinq those pest dus end ;
<br /> unpaid,and apply the same,less costs and expenses of operation and cdlectfon,including attomeys'fees,to any Indebtedness securod '
<br /> by this Deed of Trust,all in such order as Lender may determine. The entering upon and taking possession of the Property,th•coNectlon
<br /> of such rents,issues and proflis,and the eppNcadon thereof shaN not cure or waive any default or notice of defauR under this Deed d Trust
<br /> or InvaNdate any act done in response to such default or pursuant to such notice of d�autt; and, notwithstandirp the contlnuanca in
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