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yy 1I1871 �
<br /> 20. SECURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered and be effective as a finanang
<br /> statement and a fixture filing pursuant to the provisions of the Uniform Corrunercial Code (as adopted in the state where the real property is located)
<br /> covering flxtures,chanels,and artides of personal property now owned or hereafter attached to or tb be used in connection with the Property together with
<br /> any and all replacements thereof and additions thereto(the"Chattels"),and Grantor hereby grants Lender a security irrterest in such Chattels. The debtor is
<br /> the Grarrtor descxibed above. This Deed of Trust will be effective as a finanang statement filed as a fixture filing with respect to all fixtures included within
<br /> said premises and is to be filed for record in the real estate records of each county where any part of said premises(including said fixtures)is situated. This
<br /> Deed of Trust shall also be effective as a finanang statement covering any other premises and may be flled in any other appropriate filing or recording
<br /> office. A carbon,photographic or other reproduction of this Deed of Trust or of any financing statement relating to this Deed of Trust shall be sufficient as a
<br /> finanang statemern for any of the purposes referred to in this Paragraph. The secured party is the Lender described above. Upon demand,Grantor shall
<br /> make, execute and deliver such security agreements (as such term is defined in said Uniform Cormiercial Code) as Lender at any time may deem
<br /> necessary or proper or required to gram to Lender a perfected security interest in the Chattels,and upon Grantor's failure to do so,Lender is suthorized to
<br /> sign any such agreement as the agent of Grantor. Grantor hereby authorizes Lender to file finanang statements(as such term is deflned in said Uniform
<br /> Commeraal Code)with respect to the Chatteis,at any time,without the signature of Grantor. Grantor will,however,at any time upon request of Lender,
<br /> sign such finanang statements. Grantor will pay all filing fees for the filing of such financing statemerrts and for the refiling thereof at the times required,in
<br /> the opinion of Lender,by said Uniform Cormiercial Code. If the lien of this Deed of Trust be subject to any security agreement covering the Chattels,then
<br /> in the evern of any default under this Deed of Trust,all the right,title and interest of Grantor in and to any and all of the Chattels is hereby assigned to
<br /> Lender, together with the benefit of any deposits or payments now or hereafter made thereof by Grantor or the predecessors or successors in title of
<br /> Grantor in the Property.
<br /> 21. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender, at Lender's option, may expend funds(induding attorneys'fees and legal
<br /> expenses)to perform any act required to be taken by Grantor or to exercise any right or remedy of Lender under this Deed of Trust. Upon demand,Grantor
<br /> shall irrxnediately reimburse Lender for all such amourns expended by Lender together with interest thereon at the lower of the highest rate described in any
<br /> Obligation or the highest rate allowed by law from the date of payment until the date of reimbursement. These surr�shall be included in the definition of
<br /> Obligations herein and shall be secured by the benefiaal interest granted herein. If the Obligations are paid after the beginning of publication of notice of
<br /> sale,as herein provided,or in the evem Lender shall,at its sole option,pem�it Grantor to pay any part of the Obligations after the beginning of publication of
<br /> notice of sale,as herein provided,then,Grantor shall pay on demand all expenses incurred by the Trustee and Lender in connection with said publication,
<br /> induding reasonable ariorneys'fees to the attorneys for the Trustee and for the Lender,and a reasonable fee to ihe Trustee,and this Deed of Trust shall be
<br /> security for all such expenses and fees.
<br /> 22 APPLICATION OF PAYMENTS. The Trustee shall apply the proceeds of the trustee's sale,first,to the costs and expenses of exercising the power of
<br /> sale and of the sale,induding the payment of the Trustee's fees actually incurred not to exceed the amourK which may be provided for in the Deed of Trust,
<br /> second,to paymem of ihe obligation secured by the Deed of Trust,third,to the payment of junior deeds of trust,mortgages or other lienholders,and the
<br /> balance,if any,to the person or persons legally entitled thereto.
<br /> 23. POWER OF ATTORNEY. Grantor herebyappoints Lender as its attomey-in-fact to endorse Grantor's name on all instruments and other documeMs
<br /> pertaining to the Obligations or Deed of Trust. In addition, Lender shall be entitled, but not required,to perform any action or execute any document
<br /> required to be taken or executed by Grantor under this Deed of Trust. Lender'spe rformance of such action or execution of such documerrts shall not
<br /> relieve Grantor from any Obligation or cure any defauh under this Deed of Trust. All powers of attomey described in this Deed of Trust are coupled with an
<br /> irnerest and are irrevocable.
<br /> 24. SUBROGATION OF LENDER. Lender shall be subrogated to the rights of the holder of any previous lien, security interest or encumbrance
<br /> discharged with funds advanced by Lender regardless of whether these liens,security interests or other encumbrances have been released of record.
<br /> �. COLLECTION COST3. To the extent permitted by law,Grantor agrees to pay Lender's reasonable fees and costs,including,but not limited to,fees
<br /> and costs of attomeys and other agerns (indudin$ wrthout limitation paralegals, derks and consuftarrts), whether or not such attomey or agent is an
<br /> employ�e of Lender,which are incurred by Lender in collecting any amount due or enforcing any right or rernedy under this Deed of Trust,whether or not
<br /> suit is brougM,induding,but not limited to,all fees and costs incurred on appeal,in banlwptcy,and for post-judgment collection actions.
<br /> 28. PARTIAL RELEASE. Lender may release its irrterest in a portion of the Property by executing and recording one or more Partial Deeds of
<br /> Reconveyance whhout affecting fts interest in the remaining portion of the Property. Nothing herein shall be deemed to obligate Lender to release any of hs
<br /> irnerest in the Property(except as required under Paragr�38 or as may be otherwise reqwred by law),nor shall Lender be obligated to release any part
<br /> of the Property if Grantor is in defauh under this Deed of trust. The lien and security interest created by the Deed of Trust remain in effect with respect to
<br /> that portion of the property,as defined in the Deed of Trust,that is not the subject of this or any Partial Deed of Reconveyance
<br /> 27. MODIFICATION AND WAIVER. The modification or waiver of any of Grantor's Obiigations or Lender's rigMs under this Deed of Trust must be
<br /> contained in a writing signed by Lender. Lender may perform any of Borrower's or Grantor's Obligations,delay or f�il to exercise any of its rights or accept
<br /> paymems from Grantor or anyone other than Gramor without causing a waiver of those Obligations or rights. A waiver on one oxasion shall not constitute
<br /> a waiver on any other oxasion. Grantor's Obli�ations under this Deed of Trust shall not be affected if Lender amends,compromises,exchanges,fails to
<br /> exercise,impairs or releases any of the Obligations belonging to any Grarrtor,Borrower or thirdparty or any of hs rigMs against any Grantor, Borrower or
<br /> third peRy or any of the Property. Lender's failure to insist upon strict perfom�ance of any of the Obli-gations shall not be deemed a waiver and Lender shall
<br /> have the rigM at any time thereafter to insist upon strict performance.
<br /> 28. SUBS7ITUTE TRUSTEE;TRUSTEE LIABILITY;COMPENSA710N. In case of the death,inability,refusal to act or absence of the Trustee from the
<br /> state where the real property is located or in case the holder of the Obligations shall desire for any reason to remove the Trustee or any substitute trustee as
<br /> trustee hereunder and to appoint a new trustee in his place and stead,the holder of the Obligations is hereby granted full power to appoint in writing a
<br /> substitute trustee for said Trustee,and the substitute trustee shall,when appointed,become successor to all rights of Trustee hereunder and the same shall
<br /> beoome vested in h1m for the purposes and objects of this Deed of Trust with all the power,duties and obligations herein confeRed on the Trustee. Trustee
<br /> shall not be liable for any error of�udgment or act done by Trustee, or be otherwise responsible or accountable under any circumstances whatsoever.
<br /> Trustee shall not be personally liable in case of entry by it or anyone acting by virtue of the powers herein granted it upon the Deed of Trust for debts
<br /> coMracted or Ilability or dama$es incurred in the mana�ement or operation of said premises. Trustee shall have the right to rely on any instrumerrt,
<br /> documeM or signature authorizmg or supporting any action taken or proposed to be taken by h hereunder or believed by it ingoo d faith to be genuine.
<br /> Trustee shall be entitled to reimbursement for expenses incurred by it in the perfomrence of its duties hereunder and to reasonable compensation for such
<br /> of fts senrices hereunder as shall be rendered. Grantor will,from time to time,pay compensation due Trustee hereunder and reimburse Trustee for and
<br /> save and hold it harmless from and against any and all loss,cost,liability,damage and expense whatsoever incuRed by it in the pertom�ance of its duties.
<br /> All moneys received by Trustee shall,until used or applied as herein provided,be held in trust for the purposes for which they were received,but need not
<br /> be segregated in any manner from any other moneys(except to the extent required by law) and Trustee shall be under no liability for interest on any
<br /> moneys received by it hereunder.
<br /> 29. SUCCES30RS AND ASSIGNS. This Deed of Trust shall be bindin� upon and inure to the benefit of Grantor and Lender and their respective
<br /> suxessors,assigns,trustees,receivers,administrators,personal represernatNes,legatees and devisees.
<br /> 30. NOTICES. Exoept as otherwise required by law,any notice or other cormunication to be provided under this Deed of Trust shall be in writing and sem
<br /> to the perties at the addresses described in this Deed of Trust or such other address as the parties ma designate in writing from time to time. My such
<br /> nottce so given and serrt by first dass mail,postage prepaid,shall be deemed given the earlier of three�3)days after such notice is serrt or when received
<br /> by the person to whom such notice is being given.
<br /> S1. SEVERABILITY. Whenever possible,each provision of this Deed of Trust shall be interpreted so as to be effective and valid under applicable state
<br /> Iaw. If any provision of this Deed of Trust violates the law or is unenforceable,the rest of the Deed of Trust shall corrtinue to be valid and enforceable.
<br /> 32 APPLICABLE LAW. This Deed of Trust shall be govemed by the laws of the state where the real property is located. Unless applicable law provides
<br /> otherwise,Grarrtor consems to the jurisdiction and venue of any court selected by Lender,in its sole discretion,located in that state.
<br /> 39. MISCELLANEOUS. Grarrtor and Lender agree that time is of the essence. Grantor waives presentmerrt,demand for payment,notioe of dishonor and
<br /> protest except as required by law. All references to Grarrtor in this Deed of Trust shall include all persons signing below. If there is more than one Grantor,
<br /> their Obligations shall be p' irn and several. This Deed of Trust represents the complete irKegrated understanding between Grantor and Lender pertaining to
<br /> the terms and oonditions hereof.
<br /> 34. NO THIRD PARTY RIGHTS. No person is or shall be a third party beneficiary of any provision of this Deed of Trust. All provisions of this Deed of
<br /> Trust in favor of Lender are frrcended solely for the benefit of Lender,and no third party shall be entftled to assume or expect that Lender wlll not waive or
<br /> consem to the modification of any provision of this Deed of Trust,in Lender's sole discretion.
<br /> 36. PRESERVATION OF LIABIUTY AND PRIORITY. Without affecting the liability of Borrower,Grantor,or any guarantor of the Obligations,or any other
<br /> person(except a person expressly released in writing)for the payment and perfomrance of the Obligations,and without affecting the rights of Lender with
<br /> respect to any Pro�,�erty not expressly released in writing,and without impalnng in any way the priority of this Deed of Trust over the interest of any person
<br /> acquired or flrst ewdenced by recording subsequent to t�ie recordfng of this Deed of Trust,Lender may,ehher before or after the maturiry of the Obligations,
<br /> and without notice or consent:release any person liable forpayment or perfom�ance of all or any part of the Obligations•make any agreement altering the
<br /> tem�s of payment orperformance of all or any part of the Obligations;exercise or refrain from exercising or waive any rigFit or remedy that Lender may have
<br /> under the Deed of Trust;axept additional security of any Idnd for any of the Obligations;or release or othervvise deal with any real or personal property
<br /> securing the Obligations. Any person acquiring or recording evidence of any interest of any nature in the Property shall be deemed, by acquiring sucf�
<br /> iMerest or recor�ng any evidence thereof,to have consented to all or any such actions by Lender.
<br /> NEDOTD Rev.12i97
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