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�2-27-1999 DEED OF TRUST 9 9 112 2 5 0 Page 4
<br /> Loan No 1064690 (Continued)
<br /> taxes, as described below, together with all expenses incurred in recording, perfecting or con6nuing this Deed of Trust, includinq without
<br /> limitation all taxes,fees,documentary stamps,and othar charges for recording or registering this Deed of Trust.
<br /> Taxes. The following shall constitute taxes to which this section applies: (a)a specific tex upon this iype of Desd of Trust or upon all or any
<br /> part of the Indebtedness secured by this Deed of Trust; (b)a specific tex on Trustor which Trustor is authorized or required to deduct from
<br /> payments on the Indebtedness secured by this type of Deed of Trust; (c)a tex on this type of Deed of Trust chargeable ayainst ths Lender or
<br /> the holder of the Note; and (d) a specific tax on all or any portion of the Indebtedness or on payrt►enls of principal and interest made by
<br /> Trustor.
<br /> Subsequent Taxes. If any tex to which this section applies is enacted subsequent to the date of this Deed of Trust,this event shaA have the
<br /> same effect as an Event of Default(as defined below),and Lender may e�cercise any or all of its available remedies for an Event of Default as
<br /> provided below unless Trustor either (a)pays the tex before it becomes delinquent,or (b)co�tests the ta�c as provided above in the Taxes and
<br /> Liens sectlon and deposits with Lender cash or a suificient corporate surety bond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of
<br /> this Deed of Trust.
<br /> Security Apreement. This instrument shall constitute a security agreement to the extent any of the Property consdtutes fixtures or other
<br /> personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from tlme to
<br /> Bme.
<br /> Securlty Interest. Upon request by Lender,Trustor shall execute financinq statements and take whatever other acdon is requested by Lender
<br /> to perfect and conNnue 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 counterparis,copies or reproductio�u of
<br /> this Deed of Trust as a finanang stetement. Trustor shall reimburse Lender for all expenses incurred in perfecdnp or contlnuing this securily
<br /> fnterest. Upon deisult,Trt�stor shall assemble the Personal Property in a manner and at a place reasonably convenlent to Trustor and Lender
<br /> and make it available to Lender within thrse(3)days after rec:eipt of written demand from Lender.
<br /> Addresaes. The mailing addresses of Trustor(debtor) and Lender (secured party), from which information conceming the security interest
<br /> yranted by this Desd of Trust may be obtafned(each as required by the Uniform Commercial Code),are as stated o�the first page of this Deed
<br /> of Trust.
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relaHng to further assurances and attorney-ir�-fact are a part of this
<br /> Deed of Trust.
<br /> Further Assurances. At any 6me, 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 offices 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,certiticates,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate,complete,perfect,condnue, or
<br /> preserve (a)the obliyations of Trustor under the Note,this Deed of Trust,and the Related Documents,and (b)the Ilens and security(nteresis
<br /> created by this Deed of Trust as first and prior liens on the Property,whether now owned or hereafter acquired by Trustor. Unless prohibited by
<br /> law or agresd to the contrary by Lender in writing,Trustor shall reimburse Lender for all cosis and expenses incurred in connection with the
<br /> matters referred to in this paragraph. :
<br /> Attomey-In-F'act. If Trustor fails to do any of the things referred to in the precedi�g 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 attomey�r�fact for the purpose
<br /> of making, execuang, delivering, filing, recording, and doing all other things as may be necessary or desirabla, in Lender's sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph.
<br /> FU1 PERFORMANCE. If Trustor pays all the Indebtedness when due,and otherwise performs all the nbligaHons imposed upon Trustor under this
<br /> Deed of Trust, Lender shall execute and deliver to Trustee e 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 Iaw.
<br /> DEFAU.T. Each of the following,at the option of Lender,shall constiiute an event of default("Event of Defauli'�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�ime required by this Deed of Trust to make any payment for taxes or insurance,or
<br /> any other payment necessary to prevent Bling of or to effect discharge of any lien.
<br /> Default in Favor of Third Parlles. Should Borrower or any Trustor default under any loan,extension of credit,security agreement,purchase or
<br /> sales agrsement, or any other agreement, in favor of any other creditw w person that may materially affect any of Borrower's property or
<br /> Borrower's or any Trustor's ability to repay the Loens or pertorm their respective obiigatlons under thls Deed of Trust or any of the Related
<br /> Documents.
<br /> Compllance 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 waRanty,representation or statement made or furnished to Lender by or on behalf of Trustor under this Deed oi Trust,
<br /> the Note or the Related Documents is false or misleading in any material respect,either now or at the time made or turnished.
<br /> Defective Collateroltzation. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any
<br /> collateral documents to create a valid and perfected security interest or lien)at any time and for any reason. ?
<br /> D�ath or Insolvency. The death of Trustor or the dissolution or termination of Trustor's e�dstence as a goinq business, the insolvency M
<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 prxeeding,self-help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmental agency against any of the Property. However,this subsecNon shall not
<br /> apply in the event of a yood faith dispute by Trustor as to the validity or reasonableness of the claim which is the basis of the fweclosure or
<br /> forefeiture proceeding, provided that Trustor gives Lender written notice of such claim and fumishes reserves or a surety bond for the claim
<br /> satisfactory to Lender. :
<br /> Breach of Other A�reement. Any breach by Trustor under the terms of any other agrsement beiween Trustor and Lender that is not remedied
<br /> within any grace period provided therein,including without limitation any agreement concerning any indebtedness or other obligadon of Trustor
<br /> to Lender,whether existing now or later.
<br /> Events Affectiny Guaranto�. 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 optlon,
<br /> may, but shall not be required to, permit the Guarantor's estate to assume unconditionally the obligations arising under the guaraniy in a
<br /> manner satisfactory to Lender,and,in doing so,cure the Event of Default. • ?
<br /> Adverse Chanpe. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment w
<br /> performance of the Indebtedness is impaired.
<br /> Inaecurity. Lender in good faith deems itself insecure.
<br /> Riyht to Cure. If such a failure is curable and if Trustor has not bsen given a notice of a breach of the same provision of this Desd 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: (e)cures the failure within fifteen (15) days; or (b) if the cure requires more than fifteen (15) deys,
<br /> immediately iniUates steps sutficient to cure the failure and thereaHer continues and completes all reasonable and necessary steps sufficient to
<br /> produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter,Trustee or Lender,ai 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 law: ?
<br /> Acceleratlon upon Default; Additlonal 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 payable and the same shall thereupon become due and payable without
<br /> any presentment,demand,protest or notice of any kind. Thereafter,Lender may:
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