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<br /> .. . , . . 18. TiOXES AlJD ASSF.88�AEHiB. Grantoc sha0 pey a11 taxes an�ass�ssmems ratating to Pcoperty whan due and imm�diatety provide tender �
<br /> . . . . . evfQence ct paymorit o!eame..Upon the�equa�st af iender.Granbor stiall Qeposit w[th Lender eact�mantn one�tweifth{t/12)of the es"3mated ennuaf � , . � �
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<br /> . ` insutance premt�un.taxes end essessmetns petfatn[n8 to ttte Piropetty.Sa long as thera ta no dsf�theso amouttts sl�sll Ce epQ!iad to tha paymant � : �� , ' ��
<br /> � ' � of taxe9.assessmert�and fnsuranc�es�Ired an the Rroperty. tn tRS evertt of detaulR Lender shall Rave the�ighL a!its eote ap�an,io appty the _ -�
<br /> � ''• . funCa�o hetQ t0 pay arty taxas or egaLi�tne O�Itgattana My funds appGed may.�Londcr's oyfion,bs appiied in rsverse orCer of the du0 Qate � • , _
<br /> • � . • IHSPECTIOP!OF PROPERiY� 8'DOKS.RECGADS AND REPORT5� Granmr ehaU attow lsnder ar it9 egems to examfne er�d inspeet the' • . .�x
<br /> � FropeRy end examfne.�nsgect 8nd make copies ot Qranmr's dcoke and ceeards pertaintng fn the FroAerty trom tlme to time. Cvanmr st�aU provida ��_ ` .
<br /> ` vr►y esststana requlred by teddet for thess purpasea AR o!tha signamres and IMormat[on eontalned(n Gtanmr's boai�ana!reoords shaA be .
<br /> , . • . genutne.true.aecurats end eompleLS fn all raspsetm. Grarrtor sh�tl note ffie existenee of Lender's 6eneftcial inLerest in tts 6aaka�nd recorda r. • •
<br /> � • pertaiNng to Ms RroyeKy Additianally.GaenMr shali reporR in a form satisfacmryr tn Lender,suct�irdormffiion as Le�er rtsny reQuasl regarding �
<br /> � Grairtor's ftnandal eondi�lion or ttie Propeny. Ths intortnatlon ehail he tor�cfi periads,sha11 reRect Qrani�ar�recorCS at such time,and shall be , , • •_ `
<br /> , . ' rendered w�1h sucA irequsncy es Lendar may designat�. All tr►tormation tumished by Grarttnr ta tender shall bs Uue,axurate and mmp[ats in atl , F
<br /> j.�:-�- � re�eels,end�igned by firantor if Lender cequeats. • '� .
<br /> '"�'°'"" 17, E�TOpPEL CERTl�FICATES. Withtn ten(10)days after any request 6y Lender,Grantor ehall det'iver'0o WnQer,or arty irttendad Censiereo of
<br />-- :.�.t:,..--:_ •--•-, - tander's dghm wit�raspect to tha ObQga6ona a signed end actmowtetlgad statemant sAeaM�9(��e cutstanding balanc�on fhe 061fgatim�s:end - - - --- -.- ,
<br />_; - (b)whather(irarttot p�LSesses�sny dslma�detenses.set�aifs Ot CaunLerclalms vrith respact m the OhQgatia�s an�l.it so.the nature of sueh dalms, ,
<br /> . �• , defen£se,s�t-0ffs or eountetdahna titantor wltl bo conclusJvaty bound hy a�represar►ffitIon fhat lertder may meke M tAe ir�nded transferee wittf , �
<br /> �• � .. resp�ect ta these matters tn the avent that Grentorfeils m pruvtde the requested statemant tn a Ume(/manner. '
<br /> ` - 18. DEFA(ILT. GtaMbr shalt be in�etautt under thfis Oeed o}lrust and tne Trus�e a power shall become ope�attve in tha eveM that Grarttcr.' � t.
<br /> = �- . • Borroarar or any 8uarartor af Ne 0bligaUona: -- -. . _ ..
<br /> . ` ' � (a)fa31a to pay arry Obiigation to Lnnder when due; � . � � . '
<br /> � (b) taita t�pertomn erty Ob6gation or breacttes any wattanty ot co�enant to Lander cor�ined in ffiis Oeed of Tnist or erty otfter ptesent ot future � - : r
<br /> . egroomvnx
<br /> agr
<br /> ' (e) destroys,fasesordamagesthePrapeslytnenymateHalrespectorsubjecbthePropertytoaelzucs.conftscaHan,orcandemnabon: `. ° , " '�'�
<br /> � ' (dj seeksta revoke.terminaGa or mAstuvise limit its fiabil'ity under arty guarantyto L+ettdar. ` - , ' ' ,
<br /> ' ' (a) dies,�eeames Iegaity iaemnpe6an�ia dissalved or terminated.beeomes inso[veM,makes an essignmem}ar tAe benefit of aeditora,tai7s to � �. � :: .
<br /> ' , pay debts as they Oecoms due,fites a petition under the teder�l banfaupt�y taws,has an tmroturt�y petitIOn in han�uptr.yfited In xfiicA CaraMor, . � -� ' '.`
<br /> � . ' n . Borrower or any guaranmr is named.or has prapertyfaken under arry writ ar process ot cou� - � . '
<br />- , , �- (f� attows gaodato be used,transported or stored on the Froperty,tbe possession.trenspa�tion,ar use af whtch,ts itlegaF • ' .
<br /> (g) aUows airy party atherthan Granmr or Borrowerto assume ar urtdartake arry ObOgaUon withouttha writmn consent of LenQer,or � . .�,°�
<br /> � ' (h) causes LenQer to deem itseif insa�wre due to a significant dec�Ine in the vahie of the Property;or H Lender,in gaod faitl1.tor any reasort. , • . . .
<br /> ' . • , 6elievesthatth9prox7ectofpaymeatarparfortnanceisimpaired. :'
<br />- � 19 RtGlIiS Q�LEMIDEH ON OEFAULT. M tAere is a Qefault under this Oeed of Ttuat,Lender sfiall be entitfed to ezecoise ane or mara of tha • � `
<br /> _. : ;
<br /> . . foqoWin.gremedteswltAoutno�ceordemand(exeeptasrequtredbytawy: -- --�-----�-..�='=
<br /> (a)tn Qeclere the Obtigatidns tmmedlatety due and payati2e tn tuli: . . . . . - : ... -: .
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<br /> _ . (b)to collect tha outstandiog ObligaUons wfth ar wiUtout resordng to Judicia!proces� '
<br /> � � (c) to require Qrar�tor to delivar and maka avaitabte m Lender erry personai praperty or Chattels constitutlng the Proper[y at a p►aca reasona8ty - _=`�-!
<br /> , � • armenteMto araMOr and Lender, ,. '�'
<br /> � , � • (�to entar upon and take possesston of the ProyeRy wffhout spPryfng tor or obtaining tha appoimmerti of a roaiver and,at LendeYs opUon.to �'•-�;j_.
<br /> ' � ° appoiM a reoeiver vu�out bond.w�haut ftrst Gdnging sait on the ObligaUOns end wtthout othervvise meetlng a►ry s�tutory eondiHoas rogardirtg �
<br /> , , receiver�it betng irtMended that LerMer shaD hava ih(a canUactual right to appotrn e receiver, -' . �,�s�
<br />- ` (e) to empiay a martaging agertt of the Property and let the same,eilAer in Trustee s own name,in tho name af Lender or in tha neme of •
<br /> ' � ,' Grantor,and receEva the rents,incomes,tssues and proftts af the PropsRy and apptq the serne,aRer payment of all necessary charges and �
<br /> expenses,on socourn of the ObligaUans; � " "
<br />_ . ' . (� w pay arry sums in arry foan m manner daemed expedient by Lender to pcotect the security of thia Dead o!Trust or to cure arry defauft other �� �-
<br /> ' . thanpaymentotirtterestorpftnclpalonthe0biigaHons; ' � •��+'.'�. `
<br /> (g) to toroctose th[s Oaed of Tmst judictally or nonJudiclaily and to direce tha eale o4 the property througA exem,isa of the power a!sale es �� ".; �
<br /> � retecanoed ln paragraph 20 hereof in acccordance wfth applicable law; . }r.i 7°k' ;
<br /> • • � � (A)to setoft Cirantor's Obfiga�ons agatnst ar►y amounta owad Grantor by Lender including,but not Iimited to,moniea,instrumeMS.end deposit � � � : r�`°`r y-
<br /> . . . accour�mairnained witti lender or eny curtecnty existing or fuwre aNiffate of Lendar,and � � . � -j�s
<br /> � p)to exercise sil other dghts avafta6ie to Lender under any other written agreement or appllcabie Iaw. �� � �
<br />- -- • � Lender'a rights ate cumulative and may be exercised together,seyaradeiy,end In any arder. tn tAa evert that Lender inatttutes en acHon seekfng tho . _ ,.-�. `t �
<br /> � � � � recovery of erry of the Properly by�vay of a prejudgment remody in en acNan against Grantot,Grsntor watves the pnsting of arty bot�d whicA might � ��.�
<br /> otherxrisa be requtre�. Lender or Lender's designee may purchase the Pro rty at arry eate. Proceeds ot acry Trustee s eafe hemunder sha116e
<br /> pe st '
<br /> / • , applied flrat,to U�e costs and axpensea of exercising tha power af sale and of th0 saie,including tha paymen!of the TnisteB s tees actu81Iy incurred � � � ' • tiy�;`
<br /> ¢nd not to axoaed the amoimt whtcA may 6e provided for in thts Oeed of Tnist,second,to paymeM W tt�a Obligatlons securod hsroby.tfiird,to the � �.� •
<br /> �� ' • paymertt of junior Uust Qeeda,mortgages,or oiher liennotders,and the balance,if any,to itte person or persons tegaliy entlGed thereto. The propefty � .��-:�%�-
<br /> or any part thereot may be sotd in ono paroe),ar in auch parceta manner or order es Lender in its sola discretion may eleot,and orre or more � . �� .
<br /> " • ' exerds�s of fha power herein grantgd shall nat exUnguish or e�aust the power unless the er�tre property is said or the obligaHons are paid n tutl. • �
<br /> _ � � ' 20. TRU$iEE'S E7�RGSE OF POWER OF SALE ON OEFAULT: Upon defauk by Qrantor in syment of erry OGiigattons secured�ereby.tsnder �. . •
<br />- ' , • � � � , may Gedare all suma seeured hereby immedlatery due and payab(e an�shatl eausa to ba fited o�recoro a wrtmn notice of�stault ano etection to set�
<br /> fhe Property. Aftat the tapse o!such time as then may be required by taw foltowtnp recordatlon ot ancA noltce of defa�dt,and notns o!sate havtng .
<br /> • � hean given as then requirad by law.Trostee,without Qemand on Grantor,shall sell euch propeAy,eNher es a whofe or tn seperate parcets,end(n auch
<br />-- � wder aa it or knQer may clatertnlne at pubUO aucuon to the higheat btdder. Tn�stes may postpane tRs eate of aN or any poNon ot t�s PropeAy by ' °1 ' -
<br /> publia announcement at the Ume end ptace ot sate,and nom time to Ume thereafter may postponethe sato by pubtic ennaunoement at the uma and ..
<br /> . . place fixad byttte preeeding postponameM. Trustee ahall deliver to such purchaser its deed cornavtng U�a property,or portlon thareot,so sotd,but ' 'ti.� •-
<br /> wiMout ar►y covenant or warranty,express or imptled. The rec�tata in sach Qead of any mattere ot�ace or othenxisa shall be oonctushre proaf of the � .
<br /> �vuttHutness tAereof.My person,Including(�rantor,Trustee or lender,may purchase et sucb sate. •
<br /> ' ,. If P1. RHQUE9T F08 HOTICES: GraMOt requests that a copy of eny notice o!Qetauit and a copy of any nottce af eale hereunder be mailad to each 1
<br /> • person who is e party horeto at the addres9 ot auch peBOn set torth heroin at tha eame Ume and in the eame manner requirod as though e sepetate f •
<br /> � reqaest t�ereof had besn tited by each such person: � ,
<br /> ' 72 SECORIfY lN7EHE9T UHDER TFl£UNIFOflM COMMERCIAL CODE, This Daed of Trus!shall be considered a financing statemenl and a �
<br /> �' � fixtute fiflng pursuant to tha provisions of the UnHorm Commercial Cade(as adoptsd(n the state where the reeF p�operty�s racacea�cover��g nxc„rea ,
<br /> � � chaSefs,end erticl8s of personal property now owned or hereafter attached w or to be used in connecNon wfN the Property tagether with any art�ail �
<br /> � - • •, reptacemente thereot enC addlUona thereto(the"Cl�attets'),and Grantor hereby granb Lsnder a securi t y interest in suct�Chattets. The debtor is the i •
<br /> � . � Grantor descri6ad above. The secured party is the Lender descrlbed abova. Upon damand,arantoc s hall make,execute and dattver such security f .
<br /> . egreemar�(as such term te deflned in eald Unitorm Cammerclal Cade)es Lende�at errytlme may daem nece�sary or proper or requlred to grant to !� �
<br /> . Lender a pedected security in�rost in the Chatte(a,end upon Cventor'a faNure to do so,Lender le authorized to olgn ar�y sueh agreement eathe agef►t � � �
<br /> - . o!araruor. Grantor hereby wRhoriiee tsnder to fite flnancfng statsmerne(as suct►tarm la deftned In srJO UnNorm Commercia�Cede)wlth respect to � .
<br /> . ihe Cfiatteis,atsrfyUms,wNhout tha algnature of Grantor. arantor wlll,however,e!any tlme upon request af Lsnder,sign suct►ihlancing sta�menta .
<br /> . � firantor w(II pay e1i ifitng fees tor the flifrtg of such tlnanGng affitemenis end for the rofiltng thoreaf at the Umes requirod,in the opinion of Lendar,by �
<br /> � • . eatd Unilorm Cammercial Code. It the lien of this Oeed of Trust be subject to eu►y security agreement covering the Cfiatteta,then in tAe event of any f
<br /> . � detauk under tAts Oesd af Trust,ail the right,tltte and IMereat of Qrantor In and to any and all of the GAattels is hereby essignod to Lender,tagether �
<br /> • � ' . with the benefit af any deposits or paymeMS now or hereafter made thereof Dy�irantor or tAe predecessors or successore in tiUe of Grentor In the � _ �
<br /> Propelty. • . '
<br /> • � • 43. REONBURSEMENT OF MROUt�tT6 O�ENDED BYLENO&H. Lender,at Lender's op8on,may expend tunds(inctuding attomeyra'tees and tegal �
<br /> � , _ expensea)to pertorm arry set required to bo fAksn by(3rantor or to exercise any rigM or remedy ot Lender under this Qeed o}Trust. Upon demand, � �
<br /> : Qrantof shait immeElately relmburse L9ndet tor all such amounte e�cpended by Lender togetNer with interest thereon at the lower of the highest rate �
<br /> . : � • ' � Qascrl6ed tn any 061tSa8on or the hiphesl rate attowed by Iaw from tha date o!payment unUl the dats ot relmbursement These cums shall be
<br /> ,; • • � induded In the deflnidon of Ob)iga�ona hereln end shall bo sewred by the 6eneHeial interest gmMed herein. M the ObligaUons are patd atter the
<br /> � . begfnning ot pubUastlan ot noUce o!sals,as herein provided,or in the evern Lander ahall,at ite sote opUan,permit 6rantor to pay erty part of the .
<br /> ° Obtigatlona efter the beginning o1 publicaUan of notice o!sate,a9 hereln provlde0,tnen,Gtantor ehall pay on Qemand all expenses ineurted by the
<br /> t , � Trustee and Lender In nonneetion wtth saldpubiicatlon,Inatuding reasonabte attom�ys'tees to th�attomoys tor tha Truste9 8ntl tOt the l9DQdt,etitl 8
<br /> � �,.. reasonabie iee to the Trustee,and thio Oaed of Trust ehall be sewrity for ell sueh expensea end tees. . � '
<br /> , . 44. APPIlCATION OF PAYMEM$. All paymer►ts made by or on behaSf o!Qrentor may be applled agalnat the amounts pad by Londer(inciuding
<br /> " + • attnmey9'fee9 and iegaf expenses)in connection wilA the exercise ot ks rigfita or remedles doscribnd fn thts Qeed of Trust and then to the payment -
<br /> e
<br /> �_�_ • ' � of the�emaining ObIigAUOns in whatever order tsnder chaosas. . ..
<br /> ZS POWER OP A170HNEY. Grentor hereby egpatnts Lender es it9 attomeyan�fact to endarsa GrantoPa name on all instruments and other �
<br /> •�� • Qocumenb pertaining to the Qbllgationa or Oeed of Trust. fn additian,Lender shall 6a entitfed.but not required,to par(orm erry acUon ot execute eny
<br /> �; . � document requited to bB tercon ar execvtedby(irantor under this Deed o1 Trusl. LendePs performana ot such actlon or oxecutlon of suc6 , .
<br /> i . � Qocumen�shail not relieva Grarttor irom arry Ob1igation or cure any defautt under ihis Deod of Trus4 All poweB af aitam�y descHbed in lhis Oeed ot �
<br /> Trust aro ooupted witt�an interost and ara irrevacabte. �
<br /> 26. SUBROQATIOH OP LENOER. Lrmder shall be subrogated to the flghts of tho hotder o1 any previous lien,sacurity iMarast or en�sumbrance
<br /> • discAacged wNh tunds advanced by Lender�egardles9 of wt�ether these liens,secu�ity intereste or other encumOran�s have been reteased o!record. ,
<br /> � LPNE911C 0 FartnAtlonTechnorogle�,ba(0/19/84)(800)6:1T3789 ����,�• . e�of9! "."'o� �� -- .
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