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<br />200706816
<br />
<br />Loan No: 601/2952
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<br />DEED OF TRUST
<br />(Continued)
<br />
<br />Page 5
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<br />opinion, to accomplish the matters referred to in the preceding paragraph.
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<br />FULL PERFORMANCE. If Trustor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Trustor under
<br />this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance 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 Property. Any
<br />reconveyance fee required by law shall be paid by Trustor, if permitted by applicable law.
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<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
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<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
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<br />Other Defaults. Trustor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Deed of Trust or
<br />in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other
<br />agreement between Lender and Trustor.
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<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note or in
<br />any of the Related Documents.
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<br />Defauh on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or insurance, or
<br />any other payment necessary to prevent filing of or to effect discharge of any lien.
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<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on Trustor's behalf under this Deed
<br />of Trust or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes
<br />false or misleading at any time thereafter.
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<br />Defective Collaterallzatlon. 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.
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<br />Insolvency. The dissolution or termination of the Trust, the insolvency of Trustor, the appointment of a receiver for any part of Trustor's
<br />property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any
<br />bankruptcy or insolvency laws by or against Trustor.
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<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 Event of
<br />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 basis of the
<br />creditor or forfeiture proceeding and if Trustor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender
<br />monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an
<br />adequate reserve or bond for the dispute.
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<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 Trustor to Lender, whether existing now or later.
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<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any
<br />Guarantor dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness.
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<br />Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or
<br />performance of the Indebtedness is impaired.
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<br />Insecurity. Lender in good faith believes itself insecure.
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<br />Existing Indebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is not made within the time
<br />required by the promissory note evidencing such indebtedness, or a default occurs under the instrument securing such indebtedness and is
<br />not cured during any applicable grace period in such instrument, or any suit or other action is commenced to foreclose any existing lien on
<br />the Property.
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<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender may
<br />exercise anyone or more of the following rights and remedies:
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<br />Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Note secured hereby, Lender
<br />may declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and
<br />payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may:
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<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and
<br />without regard to the adequacy of its security, enter upon and take possession of the Property, or any part thereof, in its own name
<br />or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability
<br />of the Property, or part of the Property or interest in the Property; increase the income from the Property or protect the security of
<br />the Property; and, with or without taking possession of the Property, sue for or otherwise collect the rents, issues and profits of the
<br />Property, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection attorneys'
<br />fees, to any indebtedness secured by this Deed of Trust, all in such order as Lender may determine. The entering upon and taking
<br />possession of the Property, the collection of such rents, issues and profits, and the application thereof shall not cure or waive any
<br />default or notice of default under this Deed of Trust or invalidate any act done in response to such default or pursuant to such
<br />notice of default; and, notwithstanding the continuance in possession of the Property or the collection, receipt and application of
<br />rents, issues or profits, Trustee or Lender shall be entitled to exercise every right provided for in the Note or the Related
<br />Documents or by law upon the occurrence of any event of default, including the right to exercise the power of sale;
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<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically enforce any of the
<br />covenants hereof; and
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<br />(c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to cause
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