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N;,� r° s ��, ��+� DEED OF TRUST �(� i O U� g g 3
<br />(Cantinued) Page 4
<br />interest granted by this Deed of Trust may be obtained leach as required by the Uniform Commercial Code) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER AS$URANCES; ATTpRNEY-IN-�'AC'f. The following provisions relating to further assurances and attorney-in-fact are a part of
<br />this beed of Trust:
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Trustar 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 hy Lender, cause to be filsd, recprded,
<br />refiled, or rerecarded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and ali
<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 sqle qpinion of Lender, 6e necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve (1) gorrower's and Trustar's pbligations under the Npte, this Deed af Trust, and
<br />the Related Documents, and (2) the liens and security interests created by this Deed of Trust as first and prior liens on the Property,
<br />whather naw owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in writing, Trustor
<br />shall reimburse Lender fnr all costs and expenses incurred in connection with the matters referred to in [his paragraph.
<br />Attorney-in-Fact. If Trustor fails to do any of the things raferred ta in the preceding paragraph, Lender may do so for and in the name
<br />of Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevOCably 8pppints Lender as Trustor's attorn9y-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 ma#ters referred to in the preceding paragraph.
<br />FULL PERFORMANCE. If Borrower and Trustor pay all the Indebtedness, including without limitation all future advances, when due,
<br />terminates the line of credit, and Trustar atherwise performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall
<br />execute and deliver to Trustee a reques[ for full reconveyance and shall execute and deliver ta Trusmr suitable statements of termination of
<br />any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any reconveyance fee
<br />required by law shall be paid by Trustbr, if permitted by applicable law.
<br />EVENTS OF DEFAULT. Each of the following, at Lender's aption, shall constitute an Event of Default under this Deed of Trust:
<br />Payment Default. Borrower fails to make any payment when due under the Indabtedness.
<br />Other Defaults. Borrower or Trustor fails to comply with or to perform any other term, obligation, covenant ar canditian 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 6etween Lender and Borrower or Trustor.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note
<br />or in any of the Related Dpcuments.
<br />Default on Other Payments. Failure of Trustor within the time required by this Deed of 7rust to make any p�yment for taxes or
<br />insurance, or any pther payment necessary to prevent filing of or to effect discharge of eny lien.
<br />befault in Favor nf 7hird Parties. Shpuld Barrower or any Grantor 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 />Borrower's or any Grantor's prpperty or Borrower's ability to repay the Indabtednass ar Borrawer's or Grantor's ability to perform their
<br />respective obligatians under this Deed of 7rust or any of the Related Documents.
<br />False Statements. Any warranty, representatiqn or statement made or furnished to Lender by Borrower or Trustor or on 8orrower'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 or at the
<br />time made or furnished pr becomes false or misleading at any time thereafter.
<br />Defectiva Collataralization. This Deed of 7rust 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 />f7eath or Insolvency. The death pf Bprrower or Trustor, the insolvency of Borrnwer or 7'rustor, the appointment of a receiver for any
<br />part of eorrower's or 7rustor's property, any assignment for the benefit of creditars, any type of creditor workout, or the
<br />commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Trustor.
<br />Creditor or Forfeiture Prpcaedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help,
<br />repossession or any other method, by� any creditor of Borrower dr Trustor or by any governmental agency against any property
<br />securing the Indebtedness. This includes a garnishment of any of Borrnwer's or 7rustor's accounts, including deposit accounts, with
<br />Lender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Trustor as to the validity or
<br />reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Trustor gives Lender written
<br />notice vf tha creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture
<br />praceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute.
<br />Bweach of Other Agreement. Any breach by Borrower or Trustor under the tarms of any ather agreement between Bprrowar qr
<br />Trustor and Lender that is not remedied within any grace perind provided therein, including without limitation any agreement
<br />cancerning any indebtedness or other obligation vf Bnrrawer or Trustor to Lender, whether existing now or later.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodetion
<br />party of any af the Inde6tedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or
<br />revokes or disputes the validity of, or liability under; any Guaranty of the Indebtedness.
<br />Adverse Change. A material adverse change necurs in Borrower's or Trustor's financial condition, or Lender believes the prospect of
<br />payment or performance af the Indehtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />Right to Cure. If any default, ather than a default in payment is curable and if Trustor has not been given a notice of a breach of the
<br />same pravision of this Deed of Trust within the preceding twelve (12) months, it may be cured if Trustor, after Lender sends written
<br />notice to Borrower demanding cure of such default: (1) cures the default within twenty (20) days; or (2) if the cure requires mnre
<br />than twenty (20) days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the detault
<br />and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably
<br />practical.
<br />RIGHTS AND REMEbIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender
<br />may exercise any one or more of the following rights and remedies:
<br />Accaleration Upon Defaulf; Additibhal Remedfes. `If any Eveilt nf DefBUlt UCCUrs as per the terms of the Nnte secured herspy,
<br />Lender may declare all Indebtedness secured by this Deed of Trust to be due and payahle and the same shall thereupon hecome
<br />due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may:
<br />(a) Either in parson or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and
<br />without regard to the adequacy of its security, enter upon and take possession of the Property, or any part thereof, in its
<br />own name or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value,
<br />marketa6ility or rentability of the Property, or part of the Property or interest in the Prpperty; increase the incame from the
<br />Property or protect the securi#y of the Property; and, with or without taking possession af the Property, sue for or otherwise
<br />collect the rents; issuas and prpfifs of the Property, including those past due and unpaid, and apply the same, less costs and
<br />expenses of oparation and collection attorneys' fees, to any indebtedness secured by this Deed of Trust, all in such order as
<br />Lender may determine. The entering upon and taking possession of the Property, the callection of such rents, issues and
<br />prafits, and the application thereof shall not cure or waive any default or notice of default under this Deed of Trust or
<br />invalidate any act done in response to such default or pursuant to such notice of default; and, notwithstanding the
<br />continuance in possession of the Property or the collection, receipt and application of rents, issues or profits, Trustee or
<br />Lender shall be entitfed to exercise every right provided for in the Note or the Related Documents or by law upon the
<br />occurrence of any event of default, including the right to exercise the power of sals;
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