|
06-24--199fi I]�ED OF TRl3ST .. P�� a
<br /> l.oan No 1455 (Ganitinu�d� Qb� i��J2�l�r7.
<br /> S�CtJHfTY AGREEM�N'T;FI�A�iCINC STA7ETri�At'TS. T'rie taaawing provtisinns re'�ting tv this Deed ot Trust as a security agraertu�nt are a part oi
<br /> this Deed of Trust.
<br /> S�curtty Agrcement. This instrurr�ant shal! cortstitute 6 seC�trity �g�e�mant to tha extent any pf tht+ Praperty cortstitutes focture5 or other '
<br /> personal pr�Frty,and Lendar sh�ll hav0 RH o!the rightS oT a 59CUred parly under tha iJn!tarm Cbmtn0rCi9! Code 85 6lmended hom dme 10
<br /> time. '
<br /> Secur9ty Interest. Upon repuest by Lender,7ru;t�r shall execute flrtancing stater�ants and take wFU.tever nther acl{�ryr,i�rc quQStsd by l.ender
<br /> fo periect and cundnue LenderS se+:u�ily Inlarsst)n tha Rorrts end Psrsona! Propc�ty. In eddllon to r8cording fhis C)eed pt'frust in the real
<br /> orpperty records,Lsnder may,at any drt�e and wtlhcwl hxttx�authortzatlon tram Tr�tar,tlte mcacuted counterearts,ccK+l�or raoroducHons ef
<br /> this Deed of Trust a�a financ:ing sTmtament. TrustOr�haq reimbUrSe Lender for dll�9S incWred in pertocUng o�acnGnuing this seCUrity
<br /> interest. iJpon defautt,Trustw shal!assembls tha Personai Proparty In a manner end at e place reasonebly conrenient to Trustpr snd Lende*
<br /> and make it 9va11abla fp l.and9r wlthln ttu@e(3)dByS 8tt�r9C9�pt bf MMtt@rl d@rte9nd fronl LBf1d9f. �
<br /> Address�s. The rr�?fl+�g addross�3s ot Truslar(debtor�and Lender(securyd party), irom whlch lnformatlon concerning th9 securit�r In�erest
<br /> granted by thls Deed ot Trust mny ba abtained(each as raq�+ad by the UnHarm Commeroiai Code),ere as sttted on tha Pxst pege oi t��Fs Deed
<br /> pf 7rl,�st.
<br /> FURTFtER AS:iJFIANCE�; ATTORFtEY--IN-FAC'P, The 4oliowinp pr�vfsfarr.t reletlnp to tu�t+er assurancas snd altom�y-ln-tact are a part of thls
<br /> Doed of Trust.
<br /> �urther Assur�r+cn�. At any�ma,and hom tlme ta tlme, upvn rvquest o!Lsnder,Trustor r�il mske,expcute end�eliver,or w�t cause to be
<br /> mads, executed or dellverad, to �5nd� or to L�anders desipr�en, and when requesled by l.ender, cause to be filed, recorded, refiled, or
<br /> rer�prded,as the casa mey De,at such dmes and in such aff�s and q�aces es lendar may deem appropriate,any and ail such mortgages,
<br /> deeds of trust,sacurity deeds,se�.•�r:4y agreerrs�nts,Rnandng statements,condnustldn st�tsments,Ins�ur�ents o9 furlher assurence,certiticatas,
<br /> and other documents cts may, In the sole nplrslon of Lerader,be nec�ssAry or de�slrabi9 In order!o e�fectuala,completo,perfact,aondnuA, or
<br /> pr�serve (a)the obligatlons oi Trustvr undar th�Note,thts Daed of Trusi,and tha Ftqlatsd ppcumenis,and (b)the tians end security Inte�rests
<br /> creat�cf by ihis�esd ot Trus!ss!Int�nd prior Nens on the�'nperty,whether norv owned or horeafter acquired by'trustor. Unte,s prohlbRed by
<br /> law or�greod to tho c�ntrary by�ender In wriNnp,trustar shal!relmburse Lendar tor afi costs and e�Senses Incur.�d In connecNon with the
<br /> mnttors rbferred to In this para�rap�i.
<br /> Attome!y-It'�r=act. :f Truslor fsils tn do any of thc thirigs rgf�red to in the preCe�ng parAgraph,Lender may dn su tor and In tha name of
<br /> Trustor and et Trusto�s expense. For such pu+prSt�s,Trustqr her�by irrevoct+bty appdnts L_ender es Trusbr's attanoy��fact for tha purpose
<br /> of making, oxec:ding. d�livering, fifing, recarding, sna dang sA oti�er things as may be ne�ssary or des�rabie. !r� I.enders sofe opinien, to
<br /> accomplish tho mattsrs referred tp h ths precE3dinQ psragrsph. ,
<br /> Ft�L PEFlFORMRNCE. !1 Trustor pays all the Indehtedness,including without Hmitetion ell fature�advances,w�en dua,and otherwise performs aIi
<br /> ihe obligatinns imposed�por.7rustor under this Deed af Trusi,Lender shal!axpcute and tletiv�r tp 7rustee a r�que+s4 for fup;econvayanc.e flnd shail
<br /> execute and d0tiver to Trustor suitAble stat�rr�nts o!termtnation ot any flnancing statement on fite evidencing L�r.c'ar's security Interest in the Rant�
<br /> an�the Porsonal Propert'+. Any reconvaya�co�a required by Iaw shatl bs pald by 7ntstor,N permitted by eppi�ahk�taw.
<br /> DEFAIJl.T. Ench of thn fc�qowing,at the vpbon oP Lender,shaq consUfula an avent oi datauft{"EveM oi Defaut!*�und�r fhis Deeci ot Trusf:
<br /> Detaulf�n Indebtedne9s. Failura o1 Tntstor ta;srake any paymertt when due on the Indebledness.
<br /> Dciault on Ott�er Ppyments. Failura of Trustnr wfthin the dme req�rired by th►s Deed ot Trust ta make any pnyrTM,3 it icsr laxes or insurance,pr
<br /> any ofhar paymant na^„essary to prevent filing o1 or to e�fsct discharge a!eny Ilen.
<br /> CompllAnca Defaull. Faiiura at Tnrstor to compiy with any other term,obligadan„cavenan!or condition cont�inr;d I� this Deed of 1'rust,the
<br /> Note or fn any o}the Reiated Dccumonts,
<br /> F�I�e!St�iCnsents. Any wArranty,r4prasentaqon or stalement made or furNshed ra Lvnder by dr on bohalf of"frust�r ttnder this Deed o(Trust,
<br /> the Nale ar the Ra�ated f]ocuments fs fatsa or misleading in any meterial respect,alner now or at the 11me made�•furnlshed.
<br /> �Yrctive Cvllnterailzriien. This Deed of Trust or any af tha Related D�cuments ceasas to ae In tull force and aN.'sct(Including failurA of any
<br /> conatc�al dacuments to croa(e a valid and perfiact�d sacuriiy interest or li�n)at any dme and for any reasoro.
<br /> peath or lnsaiven�u. The dsath of Trustor or 'he dissolutian or termination of Trustors existenca as e going busin�ss, the insolvency oi
<br /> Trtrstor,the appantm�nt of a rece�ver tor sny pari of 7rustors propeity,any assignme�t tor the bene�t or rreditors,any type ot credilor workout,
<br /> ar the cammencement ot any pra.�aoding under Any bankruptcy or i�solvency taws by or agafnst Trustor.
<br /> Fcxectosure,Fo�telture,etc. Commencsment ot for0closure or ferlettura proceedings,wheihar by Jud�lal praceeding,selt-help,repossassion
<br /> ar any cthgr mathod,by any ereditor at Trustor or by any governmentat agency agair�st any af the Wroperty. However,ih}s su6secNon shall not
<br /> ap�+iy in ihe event pE a gooa iaith dis�u?a by Trustbr as'fo the vaif�ty or reaspnableness ot lhe clafm which fs tha basis of the�oreclosure or
<br /> torefeiture proceading, prnvlded that Trustar givas LenL'er written no7ce o4 such clalm and furnisl►es reserves pr�sure�bnnd fpr the clalm
<br /> setis(actory lo Lender.
<br /> Brrach of Other Agrecrnent. Any breach by Trustar under the t�rms of any other agreement behveen Trustpr and Lender that is nof remedied
<br /> within nny grace period provided therefn,irtcluding wi4hout fimitatlpr.any agreemer.t concerning any indetifedness or othar obligafion of Tru,tor
<br /> to Lender,whethpr exisbrig now or later.
<br /> �vents AI!�Cllnq Gnaranta-. Any of the preceding events pccurs w(lh respect fo eny Guarantcx cf any ot Yhe Indebtedness or any Guarantor
<br /> dies or becomes incompatent,w revokes or disputes the validity ot,or fiability undar,sny Guaranly o�the Indebfedness. Lendar,at ils opti�n,
<br /> may, auf shau nol bv requfred to, permit the Guarantor's astate to assume unconditlonalty the obliqatlans arising undar the guaranty in a
<br /> manner satisiaciory io Lender,and,(n dping so,cure the Event oi De(�ult.
<br /> Advers� Chnnge. A materisl adverse change vccurs In Trusior's Rnanaa! condidon, or.L9nder beiieves fhe prospec! o( payment or
<br /> periotm�nce of the in�ebtadness fs impa3red.
<br /> 1ns�cUHty. Lender in good faitlt dsems itself insecwg.
<br /> Rlght tp G�rB. If such a failure is curabia an��i Trustar has not been given a noNce of a brssch pf the s�m�pravisivn ot lhis Geed ot Trust
<br /> wi4hln ;h�prece�ing trvelve (12) mpnYhs, it mpy be cured (and na Event af t7eta�r�wilt have occu;red)ft Tr�xtpr, ptter Lender sends written
<br /> notice uu�anding cura oi suc:h (aiiure: (a)cures the t�ilure wlthin fifleen (t5)days; or (b)!f!hn czma requ?res mora than flfteen (15) days,
<br /> Im�d:�tely:r,;;iats;steps suf�.i.snt to cure the tailure and thereatter conbnues and comptetes aa reasanabte erd r�casaary steps suNictent to
<br /> �:oduce comp{iance es soon es re:tsonabty practic��.
<br /> ' �11f;HTS AND REMF�3IES ON[]E�AlJLT. Upon the occurre.�►ca of any Event of daYautt and at any time therAtttler,Trt�tea or;.er,der,at its opdon,
<br /> may exrx�isa sny one or more of tFxr toilawir�rights nnd remedfes,In additlnn to arry other rights pr remecfles provlded by lew:
<br /> Acceleratian upon Default;Addltton�R��edle3. I(any ever+t af de�ault accurs wh�h is not cured withln 9fteen(t5)days aner noNce,as per
<br /> thp tarms of tha�Jote secured hereby,Lersder may declare�tl Indebtedness securnd by thfs�eed af 1'rust:o be duo and payable an;�th�sama
<br /> 5haii t�,ar�upon becnme due and payabie withoi.�t any presantment,demand,pratest cx not(Ce of any kind. Thereetter,Lender msy:
<br /> (a) Eifher In persqn qr by ager.;,v�lih or witr;nut bringing qny acHon or prqceeding, or by a recelvar appdnted by a caurt and whhcut
<br /> reyard to the adequscy of Its security,ent�r upor.snd take nossession ot tha Prvperty,qr any parl fhereof,In it�awn name or fn tha nan:9
<br /> �}Trustee,and do any acts�.�'-'.�t deertts nscess.�ry or d�irabk to preserve the vatue,marlcotabilirj or rentabliity of th�;Property,or part
<br /> ot the Property or Interest!n the Property;increase tht;income fram the Prvperty or prptect the security of the Proparty;and,with or w�thout
<br /> taking possession af the Prop9rty,sue for ar otNerwise colfeM the r�nts,issues and profits oT fhe Praperty,including those past due and
<br /> unpa�d,and apply the sarrr,�,�ess costs and expenses of c;�era�on and cdtection,to erry indebtedness secured by this deed ot Trust,atl In
<br /> such order as Lendar may determfne. 7rie ttntering upon and ta}cing �ossessfon of the Property,the cotic3ction of such renfs,fssues and
<br /> profits, and the applicadqn lhereoi shall na!cure a wshre any detault or noNce of de(auR under this D�d of"frust c+r InvaNdate any ac'
<br /> �one in respoas�to s:ach dafault or pursuant to such no9ce o1 dc'fautt;and,notwfthstandirig the carU^�:flr.ce in possessi�n of tha Property
<br /> or ihe cdle!�Non,receipt and app�iceUon ot r�nts,fssues or profils,i rus�or l.ender shatl be enWled to ezercise every rfqht provlded for In
<br /> the Note or the ReEafed DoCUments ex by iaw upon the occurrence o1 any event of defaulf,induding ftie right fo exercfse the power af se1e;
<br /> {bj Corr�mence an acNon to foredo5e thls Dead oi Tnist as a maigaps,appaint a receN�r or sped�eniaoe e!►y of the covenants
<br /> hereoi;9nd
<br /> (c) Defi,rer:n Trustee a wri".ien dec►ara6tir of detautt and demand for sala en�i a written notice at detauft and electlon to csuse Trustor's
<br /> inierest!n thc�r:operty to be sdd,which notico Trus�a shaA csuse tn bo d�1Y"�i for recard In!he�pprqprt�te atRCes of the County in
<br /> , which itx�property;e lacp b3d�and . ��f,�,�!.°,,.,-..•; r , .
<br />
|