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85001699
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Last modified
10/17/2011 6:05:36 PM
Creation date
4/1/2008 4:07:59 PM
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DEEDS
Inst Number
85001699
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_ 001699 <br />such trustee or receiver shall not be discharged or such jurisdiction <br />relinquished or vacated or stayed on appeal or otherwise stayed <br />within 30 days; or <br />(e) The Grantor or any guarantor of all or any part <br />of the Obligation shall make an assignment for the benefit of credi- <br />tors, or shall admit in writing its inability to pay its debts gener- <br />ally as they become due, or shall consent to the appointment of a <br />receiver or trustee or liquidator of all or a substantial part of its <br />property; or <br />(f) If any representation or warranty contained in <br />this Deed of Trust, the Loan Agreement or any other instruments <br />securing the Note, or in any other certificate or any other instru- <br />ment or statement furnished to American, proves to be incorrect or <br />misleading in any material respect as of the time when made, includ- <br />ing, but not limited to, any and all financial statements furnished <br />to American in connection with the loan evidenced by the Note or pur- <br />suant to any provision of the Loan Agreement or this Deed of Trust; <br />or <br />(g) Default shall be made in the payment of princi- <br />pal or interest on any obligation of Grantor for borrowed money from <br />any other institutional lender, as and when the same shall become due <br />and payable, by lapse of time, by declaration, by. call from redemp- <br />tion, or otherwise, and such default shall continue beyond the period <br />of grace, if any, allowed with respect to the payment; or <br />(h) If Grantor or any of its successors in interest <br />or assigns, shall either transfer, assign, sell, convey, lease or <br />alienate, the Property, or any part of or interest in the Property, <br />without the prior written permission of American, or be divested of <br />title in any manner, whether voluntarily or involuntarily. <br />11. Upon the occurrence or continuance of any event of <br />default, American at itc option shall have the following rights and <br />remedies which shall be cumulative and which may be exercised with or <br />without notice, and which may be exercised separately, independently, <br />or concurrently, and more than once and in any order, and without any <br />election of remedies to be deemed made, and without affecting the <br />right of American to exercise any other remedy hereunder or which <br />American may have in law, and without regard to other remedies then, <br />theretofore, or thereafter pursued or being pursued: <br />(a) to declare any or all of the Obligation immedi- <br />ately due and payable; <br />(b) to take immediate possession, management, and <br />control of the Property without having a receiver appointed therefor, <br />and to repair and maintain the same at the expense of Grantor, and to <br />&Z <br />I <br />
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