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200207334
<br />DEED OF TRUST
<br />Loan No: 774530
<br />)Continued) Page 5
<br />FULL PERFORMANCE. If Borrower pays all the Indebtedness, in ciud'ing without limitation all future advances, when due, and otherwise
<br />performs all File ohligati.Pe Imposed upon Truster under this Deed of Trust, Lender shall execute and dialect to Trust. a request for full
<br />veysnce and shall execute and duties, m Truster suitable statements of bremnstlon at any financing statement on file evidencing
<br />Lender's security interest in the Rents aril the Personal Property_ Any reconveyanno fee required by law shall be paid by Ti if
<br />permitted by applicable law.
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust
<br />Pearson, Default. Be,,---' falls to make mN Payment when due under the Indebtedness.
<br />Other Defaults, Borrower Or Truster fails to comply with or to perform any other term, obligation, covenant or bro ilan contained in
<br />this Deed of Trost nr in any of the Related Documents or to comply with or m perform any tuns, nbllgation, covenant n condition
<br />contained in any other agreement between Lender and Borrower or Trustor.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or Collegian contained in this Dead of Trust, the Nate
<br />Or in any of the Related Documents. If such a failure is curable and If Burrower or Treater has not been given a notice of a breach of
<br />the same provision Of this Deed of Truer within the preceding twelve (12) mmgths, it may be cured land no Event of Default will have
<br />,rout) If Borrower or Trustor, after Lender sends written notice demanding cure of such failure: (a) notes ,he failure within fifteen
<br />(15) Jays; o (b) IY too cum requires more than fifteen (15) days, Immediately IFluddes steps sufficient to sure the Yallum and
<br />thereafter continues and complete ail reasonable and necessary steps sufficient to producs compliance us soon as reasonably
<br />practical
<br />Default on Other Payments. Failure of Truster within the time required by tills Deed Of Trust to ,make any Payment for taxes o r
<br />moue...,., or any other payment necessary to prevent filing of or to offset discharge of any lien,
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Trustor or on Borrower's or
<br />Trustor's behalf ends' this Deed Of Trust Or the Related Domrments Is false or misleading in any material respect, author now or at the
<br />time made or furnished or becomes tale, or misleading at any time thereafter.
<br />Detective Cnlla,erali b tion. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (including failure
<br />of any collateral document to recall a valid and perfected security interest or Ilea) at any time and for any reason.
<br />Death or Insolvency. The death of Burrownr or Truster, tee insolvency of Borrower or Trustor, the appointment of a receiver for any
<br />part of Borrower's or Tmsmr's property, any assignment for the benefit at creditors, any type of creditor workout, or the
<br />commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Trustor.
<br />Creditor or Forfeiture Proceedings. Commencement of fo'eclosne or forfeiture proceedings, whether by judicial proceeding, self -help,
<br />reposesxsion or any other method, by any -'re of Borrower or Trustor or by any governmental agency against any property
<br />Ong to Indebtedness. This 'includes a 9- 'nlsbmst, of any of Borrower's or Trustor'. acnnunts, includify deposit accounts, with
<br />Lentler. However, this Event of Default shall not apply if there Is a good forth dispute by Borrower or Truster as to the validity O
<br />reasonableness of the claim which is tile halls of the credimr ar forfeiture proceeding and If Borrow, o' Trustor g,,as Lender written
<br />fors, of the creditor or forfeiture proo.uding and deposits with Lender masers or a surety bond fur the creditor or formlture
<br />proceeding, in an amount detcnslnod by Lentler, in its sole discretion, as being an adequate reserve or bond for the dispute.
<br />Breach of Other Agreement. Any breach by Borrower or Tractor under the terms of any other agreement betwron Borrower or
<br />Trustor and Lender that Is not remedied within any grave period provided therein, Including without limitation any agreement
<br />concerning any indebtedness or other obligation of Borrower or 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, or accommodation
<br />party of any of the Indebtedness or any postal endorser, surety, or accommodation party dies or becomes Inecoulilloomm, or
<br />vokee or disputes the validity cf, or IlabhhN under, any Guaranty of the Indebtedness. In the event of a death, Lender, at its option,
<br />may but shall not be required t,, permit the guarmrtm's estate to seem In unconditionally the nhllgations arising under the guaranty in
<br />manner satisfactory to Lender, and, In doing so, cure any Event at Default.
<br />Adverse Change. A material adverse change occurs In Borrower's or Trustor's financial condition, or Lender believes the prospect of
<br />peyhnent or performance of the Indebtedness is Impaired.
<br />Insecurity. Lender in good farm believes itself rusecurs.
<br />Right to Cure_ If such a failure is curable and if Borrower er Truster has riot been given a notice of a breach of tine same provision of
<br />tills Deed of Trust wIIh,n the preceding twelve f12) months, It may be cured land no Event of Default will have occurred) it Recover
<br />or Trusts, after Lender sends written notice demanding curs of such failure: (a) cures the failure within fifteen (15) days: or (h) If
<br />the cure requires more than hinter, (15) days, Imnnedietoly initiates steps sufficient to cure the failure and thereafter continues and
<br />omptetes all reasonable and necessary steps sufficient to produce compliance as soon as reasorrabl practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, a, any time thareafler, Trustee Or Lender
<br />may exercise any One or more of the following rights and ramedles:
<br />Acceleration Upon Default Additional Remedies. If any Event of Default occurs as per the terms of the Nato secured hereby,
<br />Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and the opera shall thereupon become
<br />one and payable without any presentment, demand, protest or ounce of any kind. Thereafter, Lender may:
<br />(a) Either in parson or by agent, with or without bringing any action or proceeding, or by p receiver appointed by a court and
<br />without regard m the adequacy of its security, come upon and take possession of the Property. nr any part the'sef, in its
<br />n the name of Trus err, and do any acts which it deems necessary or desirable to preserve the value.
<br />o mkmability or rentability of the Property, or part of the Property or interest In lire Property; Increase the income from the
<br />Property o' protect the ...party of the Properly: and, with or without to log possesses. of the Property, sec for or otherwise
<br />collect the rent, issues and profits of the Property. Including those past Jae and unpaid, and apply the same. 1.11 ,cuts and
<br />expenses of cp.l and collector attorneys' fees, to any Indebtedness severed by this Deed of Trust, all In such order xs
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