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200807950
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200807950
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Last modified
9/16/2008 4:13:51 PM
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9/16/2008 4:13:51 PM
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DEEDS
Inst Number
200807950
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<br />200807950 <br /> <br />8. Performance bv Lender. If an Event of Default has occurred, or if any act is taken <br />or legal proceeding commenced which materially affects Lender's interest in the Property, Lender <br />may in his own discretion, but without obligation to do so, and without notice to or demand upon <br />Borrower and without releasing Borrower from any obligation, do any act which the Borrower has <br />agreed but fails to do and may also do any other act he deems necessary to protect the security hereof. <br />Borrower shall, immediately upon demand therefor by Lender, pay to Lender all costs and expenses <br />incurred and sums expended by Lender in connection with the exercise by Lender of the foregoing <br />rights, together with interest thereon at the default rate provided in the Note, which shall be added <br />to the indebtedness secured hereby. Lender shall not incur any personal liability because of anything <br />he may do or omit to do hereunder. <br /> <br />9. Actions Affectin€! Trust Estate. Borrower shall appear in and contest any action or <br />proceeding purporting to affect the security hereof or the right,> or powers of Lender or Trustee, and <br />shall pay all costs and expenses, including cost of evidence of title and attorney's fees, in any such <br />action or proceeding in which Lender or Trustee may appear. Should Borrower fail to make any <br />payment or to do any act as and in the manner provided in the Note or this Deed of Trust, then <br />Lender andlor Trustee, each in his own discretion, without obligation to do so and without notice to <br />or demand upon Bonower and without releasing Borrower from any obligation, may make or do the <br />same in such manner and to such extent as either may deem necessary to protect the security hereof. <br />Borrower shall, immediately upon demand therefor by Lender, pay all costs and expenses incurred <br />by Lender in connection with the exercise by Lender of the foregoing rights, including without <br />limitation costs of evidence oftitle, court costs, appraisals, surveys and reasonable attorney's fees. <br />Any such costs and expenses not paid within ten (10) days of written demand shall draw interest at <br />the default rate provided in the Note. <br /> <br />10. Events of Default. Anyone or more ofthe following shall be an "Event of Default": <br /> <br />A. Failure to make any payment of principal of, or interest on, the indebtedness <br />evidenced hereby, when due, pursuant to the tenns hereof; provided, however, Borrower <br />shall have ten (10) days to pay the same before an Event of Default is declared; or <br /> <br />B. Failure to pay any amount required by Lender in the Note; or <br /> <br />C. Default in the observance or performance of any of the other tcrms, <br />conditions or covenants contained in this Deed of Trust; provided, however, Borrower shall <br />havc thirty (30) days to correct the default, after written notice is given, before an Event of <br />Default is declared; or <br /> <br />Page 4 of 12 <br />
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