|
00000000000000235
<br />DEED OF TRUST
<br />Loan No: 7004066316 (Continued) 20021 .71
<br />Page 5
<br />Addresses. The mailing addresses of Truster (debtor) and Lender (secured party) from which information concerning the security
<br />interest gri nted by this Deed of Trust may he obtained (each as required by the Uniform Commercial Code) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY -IN -FACT. The following provisions relating to further assurances and attorney -in -fact are a part of
<br />this Deed of Trust:
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Truster will make, execute and deliver, or will cause
<br />To be made, executed or delivered, to Lender or to Lender 'a designee, and when requested by Lender, cause to be filed, recorded.
<br />refiled, or rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all
<br />such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of
<br />further assurance, certificates, and other documents as may, In the sole opinion of Lender, be necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve (11 Trustor's obligations under the Note, this Deed of Trust, and the Related
<br />Documents, and (2) the liens and security interests created by this Deed of Trust as first and prior liens on the Property, whether
<br />now o ned or hereafter ..,aired by Truster. Unless prohibited by law or Lender agrees To the contrary in writing. Trustor shall
<br />reimburse Lender for all costs and expenses incurred In connection with the matters referred to in this paragraph.
<br />Attorney in Fact. If Trustnr falls to do any of the Things referred to in the preceding paragraph, Lender may do so for and in the name
<br />of Truster and at Trustoi s expense. For such purposes, Truster hereby irrevocably appoints Lender as Toaster's attorney -in -fact for
<br />the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's
<br />sole opinion, to accomplish the matters referred to in the preceding paragraph.
<br />FULL PERFORMANCE. If Trustnr pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Trustor
<br />under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to
<br />Tractor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the
<br />Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if 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 />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
<br />Other Defaults. Trustor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Deed of
<br />Trust or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any
<br />other agreement between Lender and Trustor.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note
<br />or in any of the Related Documents. If such a failure is curable and if Trustor has not been given a notice of a breach of the same
<br />provision of this Deed of Trust within the preceding twelve 0 2 11imonths, it may be cured (and no Event of Default will have occurred)
<br />if Trustor, after Lender sends written notice demanding cure of such failure: (a) cures the failure within fifteen (15) days; or Rn if the
<br />cure requires more than fifteen (15) days, immediately initiates steps sufficient to cure the failure and thereafter continues and
<br />completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
<br />Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or
<br />insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />Default in Favor of Third Parties. Should Trustor default under any loan, extension of credit, security agreement, purchase or sales
<br />agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Trustor's property or
<br />Trustor's shinty to repay the Indebtedness or perform their respective obligations under this Deed of Trust or any of the Related
<br />Documents.
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on Trustor's behalf under this
<br />Deed of Trust or the Related Documents Is false or misleading in any material respect, either now or at the time made or furnished or
<br />becomes false cr misleading at any time thereafter.
<br />Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and affect (including failure
<br />of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.
<br />Death or Insolvency. The death of Trustor, the insolvency of Trust., the appointment of a receiver for any part of Trustor 'a property.
<br />any assignment for the henefit of creditors, any type of creditor workout, or the commencement of any proceeding under any
<br />bankruptcy or insolvency laws by or against Trustor.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self -help,
<br />repossession or any other method, by any creditor of Trustor or by any governmental agency against any property securing the
<br />Indebtedness. This includes a garnishment of any of Trustor's accounts, including deposit accounts, with Lender. However, this
<br />Event of Default shall not apply if there Is a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the
<br />basis of the creditor or forfeiture proceeding and If Trustor gives Lender written notice of the creditor or forfeiture proceeding and
<br />deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole
<br />discretion, as being an adequate reserve or bond for the dispute.
<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 />
|