|
DEED OF TRUST 200202795 pages
<br />(Continued) -
<br />paymnls an Ilia Indebtedness secured by this type of Deed Of Treat; (3) a to on this IYn of Deed of Treat chorgymba against the Lenox
<br />or the hags at the Now; and tat a epeall,, to on all o, any portion of the Indebtedness or on payments of priiii and kinsman metle by
<br />Trestor.
<br />Subsequent Toes. If any to to which this section anpses a enacted subsequent to the call of this Dead of Trust. this event shall have the
<br />same effect as an Event of Default, and Lends may avercies any or all at its evaWble hadul lot an Event of Default es provided beg.
<br />unless Truster either (1) pays the lax before A OK.C.. d.lhquent or (2) contains the Wr as pi,,UNA above in the Texas and Liens
<br />section and deposits with Wh,l cash or a eUpkbnt corporate surely bond or Who Security eatish ry le Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions reaping to Ma Deed of Treat as a security agreement are Aran
<br />of this Geed of Trust:
<br />Security Agreement. This instrument shall consthule a Security Agreement to the aslant Any of the Property constitutes houses, end Lantler
<br />shall have all of the rights of a shouretl party under the Uniform Commemal Code as mantle. from dm. to time.
<br />Security Interest. Upon request by Lander, Tremx shall execute financing statements nd take whatever other action is requested by
<br />Lender to rather and continue Lender's security Interval in the Personal Property. In addition to retarding this Dead o: Trust n the real
<br />property retards. Lends may, at any time nit without further authors albn from Treslo, fee oecumd counterparts, copies Or reproductions
<br />of this Deed of Trust As a INancng statement. Truster shall remburse Lender far ell akpenaes Incuned in perfecting Or Continuing that
<br />.ecurhy Interest. Upon defaub. Treater shall not remove, sever . or detach the Personal Propeny from the Properly. Upon Oil Luster
<br />shell essembst any Personal Property not need to the Property In a manner and al a pace reasonably convenient to Thefor and Lender
<br />and make it anumble ro Lentler within three (3) days after receipt of written demand from Lander to the meant permitted by applicable law.
<br />Addresses. The mailing addresses of Trusnor (debtor) and Lender (secured party) from which Information conceming the anuthy Inwrest
<br />granted by into Deed of Treat may be obUdn.d (each as rani by the U.W.O. CommxNal Code) are as stared on the lust page of this
<br />Dead of Tvat.
<br />FURTHER ASSURANCES; ATTORNEY -IN -FACT. The following provisions plating to further assurances And ahomey -h -f ant are a part of that
<br />Deed of Trust:
<br />Further Assurances. At any tine, and from time to time, upon request of Lentler. Ttuslor will make, execute nd deliver, or will cause to be
<br />mad., executed or delivered, no Lender or no Lender's designee, and when requested by Lander, cause to be gait, recorded. tolled, or
<br />rerecorded, as the case may be, at such times and h such offices And places as Lender may deem appropriate, any and all such mod{pgas.
<br />deeds of trust, security deeds, security agreements, financing statemnts, continuation statements, fiaWmenis of further at,saranCe.
<br />ced'dkates, and other documents as may, M the sole opinion of ! ender, be necessary or desiaba In order to effeCtuaw, complete, perfect,
<br />continua, or preserve (1) Trusnor's obllgetlons under the Note, this Dead of Treat. and the Related DOCUMOMS, and (2) the liens and
<br />a
<br />security interests co wd by this Dead of Treat an the property, whether now owned or hereagx accused by Trl Unless prohibited by
<br />law or Lender agrees to the contrary 0 writing, Tmstor shall reimburse Lender for all costs and expenses Incurred it connection with the
<br />matters referred to In the paragraph.
<br />ANcrrrey-bk-Fatl. if Trestor fails to de any of the things referred N h the preceding paragraph. Lander may do so be and h the name of
<br />Truster and an Trumpet, expense. For such pulp ... a. Trestor hereby irevoeably appoints Lentlx as Ta lees alwmey-vi for the
<br />purpose of making, a eenuting, tlelNering, filing recording, And doing all other things as may be necessary or da drabs, In Lnder's sea
<br />opinion, no accomplish the matters referred to in the P...dhg pewgreph.
<br />FULL PERFORMANCE. If Trestor pays ell the Indebtedness, including without Iknitefl n all future advances, when due, and atherwrie performs
<br />all the obligations mp ... d upon Trestor untler this Deed Of Treat, Lander shall tent. and delNer to Trustee m havi far tel recanveyenoe antl
<br />shall execute and deliver to Truster suitable statements of lamination on any financing awwment on file evidencing Landes security interest h Ina
<br />Rants and the Personal Property. Any recenveyanca we required by law shall be paid by Trusoq k permitted by applicable aw.
<br />EVENTS OF DEFAULT. At Lal option, Trestor will be In default under tbls Deed of Trost Italy of the followng bappn:
<br />Payment Defbill. Truster fails to make any payment when due under the Indedtedness.
<br />Break Other Prombes Treater breaks any promise made to Lander or veils to Parham promptly at the !me and strictly in Me manner
<br />provided In this Dead of Trust or in any agreement related to this Dead of T^ast.
<br />Compliance name, Faltre to comply with any other term, obligation, covemant or condition contained to this Dxtl of Trust. IN Note or In
<br />any of the Related Documents. If sucn a failure Is a table and if Theater has not been given a notice of a breach of the same provision of this
<br />Dntl of Treat within lie preceding twelve (12) blood is. it may be cured (and no Event of Cefaull will have occuved) H Trestor, after Lander
<br />sands written notice demanding Cure of such failem: (a) Cures the failure within. lhlCy (an) days; fur (b) II the cure requires man than thirty
<br />(30) days, mmadanety oft,as steps mbicipal to cure the (allure and intervention conMUea and completes all reasonable and necessary apace
<br />suffident to produce compliance as soon as reasonably practical.
<br />Default on goer Payments. Faidte of Treater within the time required by this Dead of Treat to make any payment far Usual or Insurance, or
<br />any other payment necessary to prevent Blinn of or to effect dlsonarg) of any Wan.
<br />FMW Statments. Any representation or statement made or furnished to Lander by Trestor or on Truslm's behalf, or made by Guarantor, or
<br />any other guarantee, ndomeq surety, or accommodation party, under this Deed of Treat or the Pealed Documents h connection with the
<br />obtain ng at No lntlBbpadness evidenced by the Note or any security document div Cdy or Iodi eett, Securing repayment of the Nor. a fide
<br />fur mNW.0 rig IS airy �l respect, either now or at the time made or fumshed.
<br />Detective Cpq®'NIIDNan. This Deed of Trust or any of the Related Documents ceaces to be In full force and effect Including failure at any
<br />collateral decennia no eraew a valid and pedeewtl security Interest or Ien) at any time and for any reason.
<br />Death or Iesdlven ty. The death of Truster. the insolvency of Tremor, the appointment of a rape vx for any pan of Trustees PCOPeny, any
<br />...igorri or the booth of creditors, anY type Of creditor workout, or the commencement of any proceeding under any bankruptcy or
<br />solvency laws by or against Truster.
<br />Taking Of tit Propei my cradhar or govemmenol agency eras to take any of the property or any ether of Trustees properly In which
<br />Lender has a Ian. This Includes taking .1, gamiching of or awning no Trustees nCounts with Lender. However. if Tmstor disputes In good
<br />aith whether the clam on which the taking of the Property Is based a valid or reasonable, and lf Trestor gives Lends written not
<br />ke e
<br />Claim and NTISh. Lender with mortals or a Surety bond satisfactory h Lender to satkN the claim. their this defauh provision will not apply. breach Breach adad of Met
<br />any pent t periody povidedbthmaln, ro.h. ding without Imitation other
<br />any ageemennt colncumhg any debtednessnor Iother And Lander
<br />obligaf n or Tnes fur to Lentler, whether existing new or later.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor, or ny other guarantor, endorser, surety, of
<br />accommodation party W any of the Indebtedness or any Guarantor, or any other guarantor, endorse, surety, or accommodation party does or
<br />becomes ucampxe iL or revokes or disputes the validity of, or lability under, any Guaranty of the Indebtedness. In the event of a tlolh,
<br />Lender, at its Opium nay; but shall not be required to, permit the Guatemala, as late no assume unconditionally the obligations arising under
<br />the guaranty in a miner, satisfactory to Lander. and, in doing so, cure any Event of Default.
<br />Insecurity. Land. in nod loth believes itself hsscure.
<br />Exlslin9 Indebtedness The payment of any installment of principal or any interest on the Existing Indebtedness Is not made within the time dsfauft occurs mquiond by
<br />cured during ranyl np keble gracenperiod In su h imiftermot, or any suit or other otten the
<br />IsInstrument
<br />commenced tosecuring
<br />reconsol nyaboathgsHen an
<br />the Property.
<br />Right to Cup. If Such a failure Is curable and If Tmstor has not been given a n ene of a breach of the same prevision of this Dead of Trust
<br />wither the preceding IweNe (12) months, it may be cured (and no Event of DataulI will have occurred) II Tresrar, ahx London sods wrilnn
<br />notice demanding cure of such failure: (a) Comic Ina failure within thirty (3D) days; or (b) If the cure requires more than they (an) days,
<br />mediate ,..,own amps settle ism to cure the lailue and thereafter continues and complxas all reasonable and necessary Steps sugblent
<br />to produce compliance as soon as reasonably pmctkal
<br />
|