|
DEED OF TRUST
<br />Loan No: 777482 200305591 (Continued) Page 4
<br />Security Interest. Upon request by Lender, Truster shall execute financing statements and take whatever other action is requested by
<br />Lender to perfect and continue Lender's security interest in the Personal Property. In addition to recording this Dead of Trust in the real
<br />property records, Lender may, at any time and without further authorization from Truster, file executed counterparts, copies or reproductions
<br />of this Dead of Trust as a financing statement. Truster shall reimburse Lender for all expenses incurred in perfecting or continuing this
<br />security interest. Upon default, Truster shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor
<br />shall assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor and Lender
<br />and make it available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable law.
<br />Addresses: The mailing addresses of Trustor (debtor) and Lender (secured party) hum which information concerning the security interest
<br />granted by this Dead of Trust may be obtained (each as required by the Uniform Commercial Code) are as stated on the first page of this
<br />Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEYAN -FACT. The following provisions relating to further assurances and attorney -intact are a pad of this
<br />Dead of Trust:
<br />Further Assurances. At any time, and ham 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. worded, rated, 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,
<br />certificates, and other Documents as may, in the sole opinion of Lender, be necessary or desirable In order to effectuate, complete, perfect,
<br />continue, or preserve (1) Trustees obligations under the Note, this Used of Trust, and the Related Documents, and (2) the liens and
<br />security interests created by this Dead of Trust as first and prior liens on the Property, whether now owned or hereafter acquired by Trustor.
<br />Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender for all costs and expenses incurred in
<br />connection with the matter; 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 Trustar's expense. For such purposes. Trustor hereby Irrevocably appoints Lender as Trustors attorney -n -fact for the
<br />purpose of making, ammeterg, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lenders sole
<br />opinion, to accomplish the mattere referred to in the preceding paragraph.
<br />FULL PERFORMANCE. If Trustor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Truster under
<br />this Dead of Trust, Lender shall execute and deliver to Trustee a request for full reconveyanca 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 Properly. Any
<br />reconveyance fee required by law shall be paid by Trustor, if permitted by applicable law.
<br />EVENTS OF DEFAULT. At Lender's option, Trustor will be in default under this Dead of Trust if any of the following happen
<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
<br />Break Other Promises. Trustor breaks any promise made to Lender or fails to perform promptly at the time and strictly in the manner
<br />provided in this Dead of Trust or in any agreement related to this Deed of Trust.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Dead of Trust, the Note or in
<br />any of the Related Documents. It such a failure is curable and if Trustor has not been given a notice of a breach of the same provision of this
<br />Deed of Trust within the preceding twelve (12) months, it may be cured (and no Event of Default will have occurred) if Trustor, after Lender
<br />sends written notice demanding cure of such failure: (a) cures the failure within ten (10) days; or (b) if the cure requires more than ten (10)
<br />days, immediately initiales steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps
<br />sufficient to produce compliance as soon as reasonably practical.
<br />Default on Other Payments. Failure of Trustor within the time required by this Dead of Trust to make any payment for taxes er insurance, or
<br />any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />Few Statements. Any representation or statement made or furnished to Lender by Trustor or on Trustar's behalf under this Dead of Trust
<br />or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished.
<br />Defective Collaterallmtlon. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (Including failure of any
<br />collateral document to create a valid and perfected security Interest or lien) at any time and for any reason.
<br />(Math or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment of a receiver for any pan of Trusters 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 />Taking of the Property. Any creditor w governmental agency tries to take any of the Property or any other of Trustar's propeM in which
<br />Lender has a lien. This includes taking of, garnishing of or levying on Trustees accounts with Lender. However, if Trustor disputes in good
<br />faith whether the claim on which the taking of the Property is based is valid or reasonable, and if Trustor gives Lender written notice of the
<br />claim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the claim, then this default provision will not apply.
<br />Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that is not
<br />remedied within any grace period provided therein, including without limitation any agreement concerning any Indebtedness or other
<br />obligation of Truster to Lender, whether existing now or later.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, er accommodation party
<br />of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes
<br />the validity of, or liability under, any Guaranty of the Indebtedness. In the event of a death, Lender, at its option, may, but shall not be
<br />required to, permit the guarantors estate to assume unconditionally the obligations arising under the guaranty in a manner satisfactory to
<br />Lender, and, in doing so, cure any Event of Default.
<br />Insecurity. Lender in good faith believes Itself insecure.
<br />Right to Cure. If such a failure is curable and it Truster has not been given a notice of a breech of the same provision of this Deed of Trust
<br />
|