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200704125 prohibited by law so to do. Grantor shall hold harmless and indemnify Beneficiary and Trustee and its successors and assigns, against any liability incurred by reason of the imposition of any tax on the making and recording of this Deed of Trust. 15. Reporting Requirements. Grantor agrees to give prompt notice to Beneficiary of the insolvency or bankruptcy filing of Grantor. 16. Events of Default. The term "Event of Default" as used herein shall mean the occurrence or happening, at any time and from time to time, of an Event of Default under the Loan Agreement as a result of which Beneficiary may, pursuant to the Loan Agreement, exercise its rights and remedies against Grantor and/or the Trust Property. Grantor acknowledges and agrees that this Deed of Trust shall be cross-collateralized and cross-defaulted with any and all other mortgages, assignments of leases and rents, security agreements and fixture filings executed by Grantor or any affiliate thereof to secure the Loan pursuant to the terms of the Loan Agreement. 17. Late Payment Charge. If any installment of the Obligations is not paid on the date on which it is due, Grantor shall pay to Beneficiary upon demand an amount equal to the lesser of five percent (5%) of such unpaid portion of the Obligations or the maximum amount permitted by applicable law, to defray the expense incurred by Beneficiary in handling and processing such delinquent payment and to compensate Beneficiary for the loss of the use of such delinquent payment, and such amount shall be secured by this Deed of Trust. 18. Right to Cure Defaults. Upon the occurrence of any Event of Default, Beneficiary or Trustee may, but without any obligation to do so and without notice to or demand on Grantor and without releasing Grantor from any obligation hereunder, make or do the same in such manner and to such extent as Beneficiary and Trustee may deem necessary to protect the security hereof. Each of Beneficiary and Trustee is authorized to enter upon the Trust Property for such purposes or appear in, defend, or bring any action or proceeding to protect its interest in the Trust Property or to foreclose this Deed of Trust or collect the Obligations, and the cost and expense thereof (including reasonable attorneys' fees to the extent permitted by law), with interest at the Default Rate for the period after notice from Beneficiary or Trustee that such cost or expense was incurred to the date of payment to Beneficiary or Trustee, shall constitute a portion of the Obligations, shall be secured by this Deed of Trust and shall be due and payable to Beneficiary or Trustee upon demand therefor. 19. Remedies. 19.1. Upon the occurrence of any Event of Default, the Trustee, upon the request of the Beneficiary may take such action, without notice or demand, as it deems advisable to protect and enforce its rights against Grantor and in and to the Trust Property, by Beneficiary itself or otherwise, including, but not limited to, the following actions, each of which may be pursued concurrently or otherwise, at such time and in such order as Beneficiary may determine, in its sole discretion, subject to the provisions of Article 42, without impairing or otherwise affecting the other rights and remedies of Beneficiary: 10