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19. RIGHTS OF LENDER ON EVENT OF DEFAULT. Upon the occurrence of an Event of Default under this Decd of Trust, Lender shall bc cntitled to exercise one or more of the following remedies without notice or demand (except as required by law): (a) to declare the Obligations immediately due and payable in full, such acceleration shall be automatic and immediate if the Event of Default is a filing under the Bankruptcy Code; (b) to collect the outstanding Obligations with or without resorting to judicial process; (c) to require Grantor to deliver and makc available to Lender any personal property or Chattels constituting the Property at a place reasonably convenient to Grantor and Lender; (d) to enter upon and takc posscssion of the Property without applying for or obtaining the appointment of a receiver and. at Lender's option, to appoint a recciver without bond, without first bringing suit on the Obligations and without otherwise meeting any statutory conditions regarding receivers, it being intended that Lender shall have this contractual right to appoint a receiver; (e) to employ a managing agent of the Property and let the same, either in Trustee's own name, in the namc of Lender or in the nanle of Grantor, and receive the rents, incomes, issues and profits of the Property and apply the same, after payment of all necessary charges and expenses, on account ofthc Obligations; (f) to pay any sums in any form or manncr decmed expedient by Lender to protect the security of this Deed of Trust or to cure any default other than paymcnt of interest or principal on the Obligations; (g) to foreclose this Deed of Trust judicially or nonjudicially and to direct the sale of the Property through exercise of the power of sale as referenced in paragraph 20 herein, in accordance with applicable law; (h) to set.off Grantor's Obligations against any amounts owed Grantor by Lender including, but not limited to, monies, instrumcnts, and deposit accounts maintained with Lender or any currcntly existing or future affiliate of Lender; and (i) to exercise all other rights available to Lender under any other written agreement or applicable law. Lender's rights are cumulative and may be cxercised together, separately, and in any order. In the event that Lender institutes an action seeking the recovery of any of the Property by way of a prejudgment remedy in an action against Grantor, Grantor waives the posting of any bond which might otherwise be required. Lender or Lcndcr's designee may purchase the Property at any sale. Proceeds of any Trustee's sale hereunder shall be applied first, to the costs and expenses of exercising thc power of sale and of the sale, including the payment of the Trustee's fees actually incurred and not to exceed the amount which may be provided for in this Deed of Trust, second, to payment of the Obligations secured hereby, third, to the payment of junior trust deeds, mortgages, or other lienholders, and the balance, if any, to the person or persons legally entitled thereto. The Property or any part thereof may be sold in one parcel, or in such parcels, manner or order as Lender in its sole discretion may elect, and one or more exercises of the power herein granted shall not extinguish or exhaust the power unless the entire Property is sold or the Obligations arc paid in full. 20. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT. Upon default by Borrower in payment of any Obligations secured hcrcby. Lendcr may dcclarc all sums secured hereby immediately due and payable and shall cause to be filed of record a written notice of default and clection to sell the Property. ^ fter the lapse of such time as then may be required by law following recordation of such notice of default, and notice of sale having been given as then required by law, Trustee, without demand on Grantor, shall sell such property, either as a whole or in separate parcels, and in such order as it or Lender may determine, at public auction to the highest bidder. Trustee may postpone the sale of all or any portion of the Property by public announcemcnt at the time and place of sale, and from time to time thereafter may postpone the sale by public announcement at the time and place I1xed by the preceding postponement. Trustee shall deliver to such purchaser its deed conveying the property, or portion thcreot: so sold. but without any covenant or warranty, express or implied. The recitals in such deed of any matters of fact or otherwise shall bc conclusive proof of the truthfulness thereof. Any person, including Grantor, Trustee or Lender, may purchase at such sale. 21. REQUEST FOR NOTICES. Grantor requests that a copy of any notice of default and a copy of any notice of sale hereunder by mailed to each person who is a party hereto at the address of such person set forth herein at the same time and in the samc manner required as though;: separate rquest thcreof h;:d been filed by each such person. 22. SEClIRITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered a financing statement and a fixture tiling pursuant to the provisions of the Uniform Commercial Code (as adopted in the state where the Property is located) covering I1xtures chattels, and articles of pcrsonal property now owned or hereafter attached to or to be used in conncction with the Property together with any and all replacements thercof and additions thereto (the "Chattels"), and Grantor hereby grants Lcnder a security interest in such Chattels. 'fhe debtor is the Grantor described above. The secured party is the Lender described above or any nominee of Lender who is named a~ beneficiary on page I. Upon demand, Grantor shall make, execute and deliver such security agreements (as such term is defined in said Uniform Commercial Code) as J,ender at any time may deem necessary or proper or require to grant to Lender a perfected security interest in the Chattels, and upon Grantor's failure to do so, Lender is authorized to sign any such agreement as the agent of Grantor. Grantor hereby authorizes Lender to file financing statements (as such term is del1ned in said Uniform Commercial Code) with respect to the Chattels, at any time, without the signature of Grantor. Grantor will, however, at any time upon request of Lender, sign such financing statements. Grantor will pay all filing fees for the tiling of such tinancing statements and for the refiling thereof at the times required, in the opinion of Lender,by said Uniform Commercial Code. I I' the lien of this Deed of Trust is subject to any security agreement covering the Chattels, then in the event of any default under this Deed of Trust, all the right, title and interest of Grantor in and to any and all of the Chattcls is hereby assigned to Lender, together with the benefit of any dcposits or payments now or hereafter made thereof by Grantor or the predecessors or successors in title of Grantor in the Property. 23. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender, at Lender's option, may expend funds (including attorneys' fees and legal expenses) to perform any act required to be taken by Grantor or to exercise any right or remedy of Lender under this Deed of Trust. Upon demand, Grantor shall immediatcly reimburse Lender for all such amounts expended by Lender together with interest thereon at the lower of the highest rate described in any Obligation or the highest rate allowed by law from the date of payment until the date of reimbursement. These sums shall be included in the del1nition of Obligations herein and shall be secured by the beneficial interest granted herein. If the Obligations are paid after the beginning of publication of notice of sale, as herein provided, or in the event Lender shall, at its sole option, permit Grantor to pay any part of the Obligations after the beginning of publication of notice of sale, as herein provided, then, Grantor shall pay on demand all expenses incurred by the Trustee and Lender in connection with said publication, including reasonable attomeys' fees to thc attorneys for the Trustee and for the Lender, and a reasonable fee to the Trustee, and this Deed of Trust shall be security for all such expenses and fees. 24. APPLICATION OF PAYMENTS. All payments made by or on behalf of Grantor may be applied against the amounts paid by Lender (including attorneys' fees and legal expenscs) in connection with the exercise of its rights or remedies described in tbis Deed of Trust and then to the paymcnt of the rcmaining Obligations in whatever order Lender chooses, 25. POWER OF ATTORNEV. Grantor hereby appoints Lender as its attorney.in.factto endorse Grantor's name on all instruments and other documents pertaining to the Obligation~ or indebtedness. In addition, Lender shall be entitled, but not rcquired, to perform any action or execute any document required [0 be taken or exccutcd by Grantor under this Deed of Trust. Lender's performance of such action or execution of such documents shall not relieve Grantor from any Obligation or cure any default under this Deed of Trust. The powers of attorney described in this Deed of Trust are coupled with an interest and are irrevocable. 26. SUBROGATION OF LENDER. Lender shall be subrogated to the rights of the holder of any previous lien, security interest or encumbrance discharged witb funds advanced by Lender regardless of whether these liens, security interests or other encumbrances have becn released of record. 27. COLLECTION COSTS. To the extent permitted by law, Grantor agrees to pay Lender's reasonable fees and costs, including, but not limited to, fees and costs of attorneys and other agents (including without limitation paralegals, clerks and consultants), whether or not such attorney or agent is an cmployee of Lender, which are incurred by Lender in collecting any amount due or enforcing any right or rcmcdy undcr this Deed of Trust, whether or not suit is brought, including, but not limited to, all fees and costs incurred on appeal, in bankruptcy, and for post-judgment collection actions. 28. PARTIAL RELEASE. Lender may release its interest in a portion of the Property by executing and recording one or more Partial Deeds of Reconveyance without affecting its interest in the remaining portion of the Property. Nothing herein shall be deemed to obligate Lender to release any of its interest in the Property (except as required under paragraph 37), nor shall Lender be obligated to release any part of the Property if Grantor is in default under this Deed of Trust. The lien and security interest created by the Deed of Trust remain in effect with respcct to that portion of thc Property, a~ defined in the Deed of Trust, that is not the subject of this or any partial deed of rcconvcyance. GreatOocA TM To Order Call: 1-800-966-577 5 ITEM 1275L4 (0504) . , I; J 200901609 LPNE516D <0 Harland Financial Solutions, Inc. (9/15/96) (Page 4 of 7 pages) APP #: 7007605