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d r• ` ~ • ~ ~' ! , ~' ` A DEED OF TRUST
<br />(Continued) 2 4 4 9 U 512 4 Pa~r3 4
<br />have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as
<br />provided below unless Trustnr either (1) pays the tax before it becomes delinquent, or (2) epntests the tax as provided above in the
<br />Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Dead pf Trust as a security agreement are a
<br />part of this Deed of Trust:
<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
<br />Lender shall have all of the rights of a secured party under the Uniform Commercial Gode as amended from time to time.
<br />Security Intereat. Upon request by Lender, Trustnr shall take whatever action is requested by Lender to perfect and continue Lender's
<br />security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender
<br />may, at any time and without further authorization from Trustnr, file executed counterparts, copies or reproductions of this Deed of
<br />Trust as a financing statement. Trustnr shall reimburse Lender for all expenses incurred in perfecting or continuing this security
<br />interest. Upon default, Trustnr shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustnr shall
<br />assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustnr and Lender
<br />and make it available to Lender within three 13) days after receipt of written demand from Lender to the extent permitted by applicable
<br />law.
<br />Addresses. The mailing addressee of Trustnr (debtor) and Lender (secured party- from which information concerning the security
<br />interest granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of
<br />this Deed of Trust:
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Truster will make, execute and deliver, or will cause
<br />to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded,
<br />refiled, or rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all
<br />such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of
<br />further assurance, certificates, and other documents as may, in the sale opinion of Lender, be necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve (1) Borrower's and Trustor's obligations under the Note, this Deed of Trust, and
<br />the Related bocuments, and (2) the liens and security interests created by this Deed of Trust as first and prior liens on the Property,
<br />whether now Awned or hereafter acquired by Trustnr. Unless prohibited by law or lender agrees to the contrary in writing, Trustnr
<br />shall reimburse Lander for all costs and expenses incurred in connection with the matters referred to in this paragraph.
<br />Attorney-in-Fact. If Trustnr fails to do any of the things referred to in the preceding paragraph, Lander may do so for and in the name
<br />of Trustnr and at Trustor's expense. For such purposes, Trustnr hereby irrevocably appoints Lender as Trustor's attorney-in-fact for
<br />the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's
<br />sole opinion, to accomplish the matters referred to in the preceding paragraph.
<br />FULL PERFORMANCE. If Borrower and Trustnr pay all the Indebtedness, including without limitation all future advances, when due, and
<br />Trustnr otherwise performs all the obligations imposed upon 7rustor under this Deed of Trust, Lender shall execute and deliver to Trustee a
<br />request for full reconveyance and shall execute and deliver to Trustnr suitable statements of termination of any financing statement on file
<br />evidencing Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by
<br />Trustnr, if permitted by applicable law.
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
<br />Payment Default. Borrower fails to make any payment when due under the Indebtedness.
<br />Other Defaults. borrower or Trustnr fails to comply with or to perform any other term, obligation, covenant ar ponditipn contained in
<br />this Deed of Trust or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition
<br />contained in any other agreement between Lender and Borrower or Trustnr.
<br />Compliance Dafauit. Failure to comply with any ether term, obligation, covenant or conditipn contained in this Deed of Trust, the Note
<br />or in any of the Related Documents.
<br />Default on Other Payments. Failure of Trustnr within the time required by this heed 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.
<br />Environmental Default. Failure of any party to comply with or perform when due any term, obligation, covenant or condition contained
<br />in any environmental agreement executed in connection with the Property.
<br />Default in Favor of Third Parties. Should Borrower or any Trustnr default under any loan, extension of credit, security agreement,
<br />purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of
<br />Trustor's property or Borrower's or any Trustor's ability to repay the Indebtedness or perform their respective obligations under this
<br />Deed of Trust or any of the Related Documents.
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Trustnr or on Borrower's or
<br />Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, either now nr at the
<br />time made ar furnished nr becomes false or misleading at any time thereafter.
<br />Defective Collataralization. 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.
<br />Death or Insolvency. The dissolution or termination of Borrower's or 7rustor's existence as a going business, the insolvency of
<br />Borrower or Trustnr, the appointment of a receiver for any part of borrower's or Trustor's property, any assignment for the benefit of
<br />creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or
<br />against Borrower or Trustnr.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture prpceedings, whether by judicial proceeding, self-help,
<br />repossession pr any other method, by any creditor of Borrower or Trustnr or by any governmental agency against any property
<br />securing the Indebtedness. This includes a garnishment of any of Borrower's or Trustor's accounts, including deposit accounts, with
<br />Lender. Wowever, this Event of Default shall not apply if there is a good faith dispute by Borrower or Trustnr as to the validity or
<br />reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Trustnr gives Lender written
<br />notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture
<br />propeeding, in an amount determined k?y Lender, in its sole discretion, as being an adequate reserve or bond for the dispute.
<br />Breach of Other Agreement. Any breach by Borrower or Trustnr under the terms of any other agreement between Borrower or
<br />7rustor and Lender that is not remedied within any grace period provided therein, including without limitation any agreement
<br />concerning any indebtedness or other obligation of Borrower or Truster tp Lender, whether existing now or later.
<br />Events Affecting Guarantor. Any of the preceding events ncpurs with respect tp any Guarantor of any pf the Indebtedness or any
<br />Guarantor dies or becomes incompetent, or revokes or disputes the validity af, or liability under, any Guaranty of the Indebtedness.
<br />Adverse Change. A material adverse change occurs in Borrower's or Trustor's financial condition, or Lender believes the prospect of
<br />payment or performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />Right to Cure. If any default, other than a default in payment is curable and if 7rustor has not been given a notice of a breach of the
<br />same provision pf this Deed of Trust within the preceding twelve (12) months, it may be cured if 7rustor, after receiving written notice
<br />from Lender demanding cure of such default: (1) cures the default within twenty (20) days; or (2) if the cure requires more than
<br />twenty 120) 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 />praptical.
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