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- � ��-2.1-1999 DEED OF TRUST 9 9 11212 3 Page 5
<br /> Loan No 765877 (Continued) : . � ' - •
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<br /> FURTHER ASSURANCES; A7TORNEY-IN-FACT. The following provfsions relatlng to fu►ther assuranc�s and attorney-IrFfact are a part of this
<br /> Deed of Trust.
<br /> Further Assur�ces. At any time,and from Hme 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 flled, recorded, refiled, or
<br /> rerecorded,as the case may be,at such tlmes and in such offices and places as Lender may dsem appropriate,any and all such mortgages,
<br /> deeds of trust,securiiy deeds,security agreements,8nancing statements,contlnuadon statements,instruments of further assurance,certificates,
<br /> and other documents as may, 1n the sole opinfon 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 Dxuments,and (b)the Ifens and security interests
<br /> created by thls Deed of Trust as first and prior ilens on the Prope�ty,whether now owned or hereafter acquired by Trustor. Unless prohibited by
<br /> law or agreed to the contrary by Lender in writing,Trustor shall reimburse Lender for all cosls and expenses incurred 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-ir�fact for the purpose
<br /> of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lenders sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph.
<br /> FIRl PERFORMANCE. If Trustor pays all the Indebtedness when due,and otherwise performs all the obligations imposed upon Trustor under this
<br /> Deed of Trust, Lender shall execute and deliver to Trustee 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 applicable law.
<br /> DEFAULT. Each of the following,at the option of Lender,shall constitute an event of default("Event of Defauli'�under this Deed of Trust:
<br /> DeMult on Indebtedness. Failure of Trustor to make any payment when due on the Indebtedness.
<br /> DeMult on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for texes or insurance, or
<br /> any other payment necessary to prevent Hling of or to effect discharge of any lien.
<br /> Compllance Detault. Failure of Trustor to comply with any other term, obligadon,covenant or condiHon contained In this Deed of Trust, the
<br /> Note or in any of the Related Documents.
<br /> False Statements. Any warranty,representaHon or statement made or furn(shed 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 /> Defective Collateralization. This Deed of Trust or any of the Related Documents c�eses to be in full force and effect(including failure of any
<br /> collateral documents to create a valid and perfected security interest or Ifen)at any time and for any reason.
<br /> Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment of a receiver for any part of Trustor's property, any
<br /> assignment for the benefit of 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 proc�edings,whether by judicial proceeding,self-help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmentai agency against any of the Properfy. However,this subsection shall not
<br /> apply in the event of a good faith dispute by Trustor as to the vaUdity or reasonableness of the claim which is the basis of the foreclosure or
<br /> forefeiture proceeding, provided that Trustor gives Lender written notice ot such claim and furnishes reserves 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 therefn,including without limitation any agreement concerning any indebtedness or other obligatlon of Trustor
<br /> to Lender,whether existing now or later.
<br /> Events Affecting 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 its 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 /> Insecurity. Lender in good faith deems itself insecure.
<br /> Right 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 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 withfn ten(10)days;or (b)if the cure requires more than ten(10)days,immediately
<br /> initiates steps su�icient 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 /> RIGHTS AND REMEDIES ON DEFAI�T. Upon the occurrence of any Event of Defauft and at any Hme thereafter,Trustee or Lender,at its option,
<br /> may exercise any one or more of the following rights and remedies,in addiHon to any other righls or remedies provided by law:
<br /> Acceleratlon upon DeMult; Additional Remedies. 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 peyable and the same shall thereupon become due and payable without
<br /> any presentment,demand,protest or notice of any kind. Theresfter,Lender may:
<br /> (a) Either in person or by agent, with or without bringing any acGon 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 Properfy,or any part thereof,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 renis,issues and profits of the Property, including those past due and
<br /> unpaid,and apply the same,less costs and expenses of operation and collection,including 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 default or notice of default under this Deed of Trust
<br /> or invalidate any act done in response to such default or pursuant to such notic;e of default; and, notwithstanding the continuance in
<br /> possession of the Property or the collecUon, receipt and eppUcatlon of renis, issues or pro�is, Trustee or Lender shall be entitled to
<br /> exercise every right provided for in the Note or the Related Dxuments o�by law upon the occurrence of any event of default,including the
<br /> right to exercise the power of sale;
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