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<br /> �� 16. TN(E8/WD A93ESSMENT9. (irantor chfll!pfly n11 twcos and aasesamonts relating to Propsrty whon de�m nna Immedlataly provide l.ondor � ``V��
<br /> ovldenca o}pnyment of e�me. Upon the raquost ot Lendor,Orantor ohnll dsposit�vith Lender each month onm�twei4th(1/12)ot the estimated nnnual i �'.�
<br />' . Insurnnce premium,texea nnd asaessmentc perlNninp ta the Property. So I�ng as Ynero la no defaui3,thmso amountf chail de appll�d to the peym�nt °'--
<br /> of tiucsa,asseasments nnd Insurance as rex�ulced on tho Proporty. In tler�evont of default,lsndmr sh.zll hxvo tha rlqht,At 113 SOIe opuon,to apply the � �._,
<br /> � tunde so h�;d to pay eny t�x�a or apalnst thn Otrllpatlone. My}unda ap�Iiod may,at l.endtr'e optton,bm eSQplisd In rewrca ord�r of the dw dats
<br /> thaaof. '��-
<br /> 16. IK9PECTION OF PROPEFiTY, BaQtt9, FiF:60RII8 AND REPOffIT0. Orp:ntor shall nllow l.onder or ite eflent�to oxsmfne and Inspeet the a+ =�
<br /> Froporiy�nd examins,fnsp�q and make coploa ot Qrantor's book9 nnd r�COrd9 pORdlntng to th�Prpperty f�pm dme to tlm�. �r�ntor enall provido
<br />_ any assltttna roqulrsd by Und�r tor th�eq purpo»s. NI o}th�etpnat�er��and Intormatlon wnta�lned In arantor'e book��nd rocards�hall b� `��
<br /> p�nuln�,tru�, accunt�and compNte In al rosp�clo. f3r�ntor ehe11 nnte the oxlat�ncs ot Lond�r'a bsnNlclal Intere�t In It� twoke md ncords -
<br /> p�rtilninp to th� Prop�rty. /k1dlNonally, Qrnntor ehail report,In s form eatlu}actory to Lend�r,euch intarma�t�on e�f l.end�r m�y nqunt npudinp r,
<br /> Onntor'e tin�nclal conditlon or th� Prop�ny. The Intormation ahtll bs for euch p�rioQe,ehtll retl�ct Orentor'e recorA�af nuch tims,and�h�ll b• ,
<br /> �� nnd�nd wiM�uch(nqwnay��L*ndor moy dosfqnat�. All Inform�tlan turnl�h�d by(3rantoi to Lend�r ehs�ll bs tni�,�ccur�t�anA campt�t�in all `."
<br /> r�:p�ct�,utd tipn�d by arantor H Lsnd�r requecb. .
<br /> 17. EBTOPP�L CFRTiFIGATEB. Y'lthln t�n (t0)d�ya�tt�r�ny nqu�tt by l.end�t,(irantor�hall deliv�r to Lend�r,or any int�ndad iranfUrs�ot ��_
<br /> Lenderb dphb tvlth rospect to the Qbllpnt!�nt o slpnad and nckno+�ltdpad cta2amont cpaclfyinp(a)ths autstGndinp O�tanco an tha Obllpatlono;and �
<br /> (b)wh�th�r(3��ntor po���sn any clilrm,dot�nu�,s�t-ott�or coant�rcialme with rssp�ct to tl�m Oaltpatlon�and.H so,tho n�tun o1 wch ctalmn,
<br /> d�Nnsa�,N4�ofl�or oount�rcltlm�. Qrnntor v►�lII h�concluslvety bound by any reprea�ntAtlon th.r.t Londar m+ny ma�ko to ths Intend�d transf�n�v�fth
<br />= n�p�ct to thea matt�re In th�evmt th�t(3Mntar fnlla to provid�th�requested etatQmont In a t?maly m.r.nnmr.
<br /> 1�. D�FAULT. (3rantor ehail bo In d�i�ult unclor thts O�sd o} Truat and the Tn+stee's pov;or ahall becomm operetNe in tho ewnt that Orantor, �
<br /> Borrow�r or any puarantor of thP Obllpt,tlons:
<br /> (�) folls to pay any Oblig�tlon to Lender n�on due;
<br /> (b) f�ila to perform any obilpntlon or bres.ohes any�varranty or covennnt to Lender contalnod in thts Qood o1 Tn�st or any othor presant or tuture
<br /> cpre�mont;
<br /> � (c) d rtroya,lo;a�or dam�pas th�Proprrty In sny mutsrlal respcct or subJccts tha('roparty to solxuro,wntiscation.or condomnstion;
<br /> ? (d) seeks to revoke,terminato or otho�wiso Iimit ito ilablllty under any guuranty to Lender; �
<br />-- • (s) diea,bacom�n I�palty Incomp�tent,is divalved or terminated,becomes Insolvent,mxkoa an assipnmont tor thm benofit ot creditars,fafln to �s ��.e
<br />_'' pay debta as they became du�,flles a peti4lon under the federal bankruptcy Iaws,has an InvoluntEry potition in 6s�nfcruploy fited In which Gruntor, �+'�_
<br />;; Borrower or any puaranwr Ia nsmad,or hnE praperty takon under any writ or procoss of court: d
<br />- �• (f) tllowe paods to b�uaad,trnnsported or storod on the Procerty.thr oosseaslon,tranepona�tian,nr uso ot which,ia luegai; ��,
<br />'�� (g) allowa any paRy other thsn�'rantor or Borrowor to assumo or undsrtake any Obllgation wiqhou2 tha writton consont of Londor;or , , •
<br />' (h) caus0s Lender to deom(t�relt Insecuro duo to a stpnificant declino in tha valua of the Proporty;or if Londor,in pood faith,for any reason, ��;
<br /> believea that the prospect of payment or porformance is Impnired. �
<br />` 19. RItiNTfa OF LENOER OH QBFAULT. It thoro Is a default under this pead of Trust,Londor sh�ll be ontitlmd to oxorciso one or more of the �
<br /> following remedies withouf noUcm or demand(axcept as roqutrad by law)� � f�:�
<br /> (�) to declare the Obllpations Immcdiatoty duo and paynble In full; _
<br /> (b) to colleet the outstanding ObB�ations with or without resorting to Judielel proeoss; � . '
<br /> (o) to roqulro Grantor to dNiver and mako available to Lendor any poraonal property or Chattol9 constitutinp tha Proporty at A p!aca r�sasonably � • �-
<br /> _ � convantent to Cirantor and Lundor, f _,�� ___
<br /> � ^" (tl) to enter upon antl take posaesston ot tno t'roperry without apply�r.fl tor or oDte�n�ng tne appomtment ot a roceivor enm,at t.onder a optton,to ; - � -s� -
<br /> appolnt a rscelver wNhout bond,w(thout firnt bringln8 suit on the Obil9atlons and wfthout othmrvvise moelinp eny stetutory conditiona reyurdln9 I ' ,
<br /> � rocelver3,ii being Intended Mt�t Lender shall have this contractual r19ht to eppolnt e recvelver; '.� �..
<br /> (b) to employ a managin8 apent of tho Property and let the earr:e,either In Trustee's own n�mo,In tho n�mo 01 Londor or in the name ot � . ,
<br /> Cirentor,and recefve ths ronts,inwmos, fESUOS and profito of thv Praparty nnd apply thm samm,oftnr paymont of e�ll nocessary charges and �
<br /> expensea,on account of th�Obllpations; ;
<br /> (fl to pay any eums in any torm or mf,nnor doemod expodlont by Lon�lor to protoct tha socu�ity oi this Dood of Trust or to curo any default other !' . :
<br /> than paymsnt of Interest or prindpal on tho Ob118ations; �� ; :
<br /> ' (q) to toreclose this Dsed of Trust JudlCl�Ily or nonJudlcinlly and to diroct thv salo of tho property throuph oxorciso ot the power of sale ae ;�.;
<br /> roferenced In paragraph 20 h�reof in aocFOrdanco with applicable law; I ,.
<br /> (h)to sot�oN GrentoPa Oblipatlons eg�inet any nmounte owod Orantor by Lender Inciudinfl,but not limitod to,monlos,Instrumente,and dopanft
<br /> � eccount�malntnined with Lr�nder or any currontly exlsUng or future nitiiiate of Londer;antl i •*-�•4
<br /> • .� p)to exerclae all other rights avallablm to lrmder undor any othor writton agreement or appliCabto I�iv. , :.�
<br /> Lendsr's rlphte are cumulative and may bo exorclsed together,separatmly,nnd In nny order. In th�evont tt�at Londar Institutos an ecNon seekinp the � .
<br /> recrovery o}any of the Properiy by way of a proJudgment remedy In an aalon egalnst(3rantor,Cirantor wallos tho postlnc�of eny bond which mlght , ,
<br /> '" othanvlae bs requlred. Lertdtr or Lsndcv's deslgnee may purchase tha Properry at any oale. Procoods of any Trustno's sale heraunder ehall be R_.__:
<br /> appll9d firat,to the costs artd oxpenses af exorclsing tho power of snlo end o!the sale,Includinq th�payment of tho TruFrtno's teea actually Incurred � � , ::f;s�.
<br /> , and not to exceed the amount which mt�y be provido�i lor In thio Doed of Trust,aecond,to paym�nt of tho ObIlDations securod heroby,ihird,to tha ; . �•%•i.•.
<br /> payment ot Junlor trust deeda,mortgagos,or other Ilenholdera,nnd tRO balance,if any,to the person or persons Iopnity antitlod thereto. The property � ' � '•' *., .�
<br /> or any part thereot ma be sold In ono�crcal,or In sueh pnrcols,mannor or otdar as Lendor In'ris sola discrotlon ma oleot,en�t one or more '" �
<br /> exerclaes of the pawer heroln pranted ohali not extingulsh or oxhaust the powor untess the ontiro propsrty ia sold or tho obliflations are pald n 1ull. � �Q
<br /> 20. TRUSTEH'S D(ERCI$E OF P01N�ER QR SALE ON DEFAULT: Upon detaui4 by Cirantor in paymnnt o}any Obligations secured hereby,Londe� '
<br /> may declare ali aums socurad h�reby lmmediateiy due and pnyabte anN shali cause to bo filed ot rocord a writton notico of dofAUk and election to seli � �-
<br /> ths Property. Atter tha lapse of such tlme as then may bo requlred by law tollowfng record�tion of such notico of dofauit,and notice of nate havinp , �•
<br /> been Aiven es then requfrod by law,Tnistoe,wtthout domnnd on Orantor,ahall sell such proporty.vlther as a wholo or In sopareto parcols,and In such i
<br /> "� ' order es k or lendor may dstermine af Aublic auctlon to tho hl�h�9t bietc�o� Trustoe may postpono tha tielo 01 all or eny portion of t1�o Property by I �' 1�1:
<br /> �� ' ' publlo nnnouncement at ths time ancl pla�p of sale,and irom time to tirne themafter may postponm thm salo by publio announcement at the time and � " „ '7�:
<br /> :i place iixed by the preceding poatponemont. Trustee shnli doliver to sucn purchaser Its deed oonvayInfl thm prop�rty,or poAlon thereof,so eold,but i �'�' i�.
<br /> witfiout any covenant or warrenry,expross or impliod. Tho recital�in such deed ot nny metters of trot or othmrndso shall ba conr,lusive proof of the i y-
<br /> y tr��thtulnesa thereof. My psrson,lncludl�D(iran4or,Trustee or Lendar,may purchcise nt ouch snle. _
<br /> 21. RHQU�ST FOR NOTICES: Grt�ntor roquesta that a copy of any notice of default and a copy of any nottco o!selm harounder be malled to each '
<br /> y', . pereon who ie a pnrty heroto at ths a�ielross of such poroon sat tonh heroln at the same tlme and In the semo mannor roqulrod 4s though a separate � � �+•
<br />= roqueat theroof had been tilod by oach cuch pereon. �
<br /> ' 22. SECURI7Y INTEREST UNDBR 7118 UNIFORM COMMERCLAL CODE. Thia Deed of Trust shall bo consldorod a linancing statement and a ,. �
<br /> fixture filing pursusnt to th!,provialons ot tAe Uniform Commerciul Codo(as ndopted In the state whero tho roal property Is locatod)covaring tixturas,
<br /> chattels,and articles of personal property now owned or horeattor attached to or to bo used fn connoctton wlth tho Proporty togethor wKh any and all �,�
<br /> replacemenb theraof and ndditions th�roto(tho'Chnttols'),and Qrantor heroby grants Londer a security Intorost in such Chattets. The dobtor In tho .
<br />..t Grentor describad ebove. The soturod pxrty Is tho Lendor doscrfbod�bove. Upon demand,(3rantor ohall mako,oxacuta and delivs�such eeuudty '
<br /> .,� apreemants(ae such torm Is d�fin�d in sa�fd UnlSorm Commorclul Codo)�s Londer at any timo may doem naco:.asry or proper or required to prant to i
<br /> Lc�nder n perfected security Intormst in 4ho Chattols,nnd upon Orantor's 4ailuro to do co.Londor Is auMorizod ta sign sny�uch t►proomant os tho naont •
<br /> � of�rnntor. Gtantor hereby nuthorixos Wnder to flio tinancing stntomonta(as auch term is dofined In c�JCI UnFform Commerclal Code)wlth respoct to �
<br /> � the Chattels,at any tlma,without ths al�nr�turo of(3rantor. Orentor wlll,however,at any time upon roquoat o4 Londmr,slqn such financing atntementn.
<br /> Orentor wlli pay all fillnp fees for the 11IIn�of such financing statemonto and tor the rofillne thereo}at thv tirros roquirod,1n the opinlon of Lender,by �
<br />`L eald Unlform CommerCial CoCe. If tho Ilon ot thlo Deed of Truat bo cubJect to eny securlty aproement oovorinp tho Chattals,then In the event of eny • ,.
<br />-?i d�lauit undsr thla Oeed of Truat,eil the rlght,dtle and Interest of Cirnntor In and to eny and all of tho Chatt�13 Is horoby Asslgned to Lender,toAsther '.
<br /> , wlth the benofit of any deposits or payment9 now or hereaftor mnde thereof by Grnntor or the predecossore or succossorn in title of Orantor In the
<br /> = Prapertv
<br />�� --'--� 23. REIINBURSEMENT OF AMOUNT3 EXPENDED BY LENOER. Lendar,aS lender's option,may expend tunCS(nducllny attomeyra'fas ancl lapu ; -
<br /> � expensea)to�erform sny aet requlred to be taken by Grantor or to exe�cise any right or romedy of Lendor uv�dor this Deed of Trust. Upon d�mend, �
<br /> - - Gt�aSor sh8�� mm�C��G�tf��f^l:Tl�'L'!=^_��R'�:.'1Q!0!�°_�C�1 nmmir�tg n7{(}nnAn�l hY I Fl�If1M tn�pfh�r uri�h InMr�M�hmrnnR 2t Ule j�wef 0}��hlno�eef fetn
<br />,�• d�scdbed in any Oblipatlon or the hlghtst rnte oliowed by Iaw irom the date of pny�r.ont untfl the date ot rclmpuraement. Theae sums ehall be
<br /> � Included In th�definitlon of ObIlgaHons hcroin and shall bo secured by the beneficl��Intereat grented horofn. 14 tho Ubilgntlons ere pald aftor the
<br />,� be Inninp o!publicatlon ot nntico ot salo,as herotn providod,or In the evont Lendor shall,at Its sole optlon,pormlt Grantor to pay any part of thn
<br /> Ob�lpationa etter the bspinnfnp of publieation of notice of saio,as horein provided,thon,Orentor shnll pny on dmmand all exponseo InCUrrod by tho •
<br /> Ttuatee and Londer In connootlon witn sald publicatlon,Including rnaso�nble attorneys'feos to tho otrorr.rtya tor tho Trustee and for tho Londer,and e
<br /> �'' � rrrasonable fee to the 7ruatoe,and thfs Qeed of Truat ahnll bo aecurity for ali auch expenses and tees.
<br /> � 24. APPLlCATION OF PAYINENT3. Atl paymants mado by or on bohalf of Grantor mey be applfud agat��at thm amounte pafd by Lender (Inciuding
<br /> eriomeya'feoa n�d lepal oxpenses)In connectlon witA the oxerNse of ite righte or romediea descrlbad fn tRl�[Wetl ot Trust and then to the paymont
<br /> ,�, of the romaining Obllgatfons In whatevor order Londor choo�ea.
<br /> .s 2S. POWER OF AYTtfRN�V. Gmntor hrroby eppolnts Londor e9 it�ettorneyIn•fnct to ondorso Cirentor's namo on nIi Instrumonle und othor
<br /> I documente ertninlng to the Obll atfons or Deed ot Trust. In additian,Lender ehall bo entitled,but not rcqulrod,to perform any actlon or execute nny
<br /> I doCUment required to be taken or oxecu2^d by Cirnntor undor thiu Dood of Trust. Londor's porformanco of euch uctlon or execuUon ot euch
<br /> � documente ehail not rell�vs Cirentor trom any Qb�igation or cure any dofault under thlo Ueed of Trust. AII powere of nttorney descrf6ed in thia Deed of
<br /> Trust nro coupled wtth an Intorest nnd aro Irrovocable.
<br /> � 26. SlL8HO0ATtON OF LENDER. Lender sfiall be subrogated to tho dghts ot tho holdor of any previous Ilsn,aecuriry Interost or encumbrnnco
<br />�I��
<br /> discharged wlth funds advnncod by Lnndor rogardloss of whuthor thoso Ilone,eocurity inioroste or othor oncumbrancoa hnve bbon roloasad ot rocord.
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