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<br />Loan No: 101214630
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<br />
<br />200709372
<br />
<br />DiEDOI'? TRUST
<br />(Continued)
<br />
<br />Page 5
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<br />permitted by applicable law.
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<br />EVENTS OF DEFAULT. At lender's option. Trustor will be in default under this Deed of Trust if any of the following happen:
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<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
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<br />Break Other Promises. Trustor breaks any promise made to lender or fails to perform promptly at the time and strictly in the manner
<br />provided in this Deed of Trust or in any agreement related to this Deed of Trust.
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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
<br />or in any of the Related Documents.
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<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.
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<br />False Statements. Any representation or statement made or furnished to lender by Trustor or on Trustor's behalf under this Deed of
<br />Trust or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished.
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<br />Defective Collateralization. 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 create a valid and perfected security interest or lien) at any time and for any reason.
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<br />Death or Insolvency. The death of Trustor, the insolvency of Trustor. the appointment of a receiver for any part of Trustor's property,
<br />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 />Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of Trustor's property in
<br />which lender has a lien. This includes taking of, garnishing of or levying on Trustor's accounts with lender. However, if Trustor
<br />disputes in good faith whether the claim on which the taking of the Property is based is valid or reasonable, and if Trustor gives
<br />lender written notice of the claim and furnishes lender with monies or a surety bond satisfactory to lender to satisfy the claim, then
<br />this default provision will not apply.
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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, endorser, surety, or accommodation
<br />party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or
<br />revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. In the event of a death, lender, at its option,
<br />may, but shall not be required to, permit the guarantor's estate to assume unconditionally the obligations arising under the guaranty in
<br />a manner satisfactory to lender, and, in doing so, cure any Event of Default.
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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
<br />time required by the promissory note evidencing such indebtedness, or a default occurs under the instrument securing such
<br />indebtedness and is not cured during any applicable grace period in such instrument, or any suit or other action is commenced to
<br />foreclose any existing lien on the Property.
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<br />Right to Cure. If any default, other than a default in payment is curable and if Trustor has not been given a notice of a breach of the
<br />same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if Trustor, after receiving written notice
<br />from lender demanding cure of such default: (1) cures the default within ten (10) days; or (2) if the cure requires more than ten
<br />(10) days, immediately initiates steps which lender deems in lender's sole discretion to be sufficient to cure the default and
<br />thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably
<br />practical.
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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
<br />may 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,
<br />lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become
<br />due and 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
<br />own name or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value,
<br />marketability or rentability of the Property, or part of the Property or interest in the Property; increase the income from the
<br />Property or protect the security of the Property; and, with or without taking possession of the Property, sue for or otherwise
<br />collect the rents, issues and profits of the Property, including those past due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection attorneys' fees, to any indebtedness secured by this Deed of Trust, all in such order as
<br />lender may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and
<br />profits, and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust or
<br />invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding the
<br />continuance in possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee or
<br />lender shall be entitled to exercise every right provided for in the Note or the Related Documents or by law upon the
<br />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
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