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DEED OF TRUST � O� i O 4 8�$
<br />Loan No: 101242552 (Continued) Page 5
<br />reconveyance and shall execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing
<br />Lender"s security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if
<br />permitted by epplicable 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 Defauk. Trustor fails to make any payment when due under the Indebtedness,
<br />Other Defaults. Trustor fails to comply with or to perForm any other term, obligation, covenant or condition contained in this Deed of
<br />Trust or in any of the Related Documents or to comply with or to perform any term, obfigetion, covenent or condition contained in eny
<br />other egreement between Lender and Trustor.
<br />Compliance Defeult. Failure to comply with any other term, obligation, covanant or condition contained in this Deed of Trust, the Note
<br />or in any of the Related Documents.
<br />Default on Other Paymants. Feilure of Trustor within the time required by this Deed 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 />False Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on Trustor's behalt under this
<br />Deed of Trust or the Related Documents Is felse or misleeding in any material respect, either now or at the time made or furnished or
<br />becomes false or misleading et any time thereafter.
<br />Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (including feilure
<br />of any collateral document to create e valid and perfected security interest or lien) at any time and for any reason.
<br />Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment of a receiver for any pert of Trustor's property,
<br />any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any
<br />bankruptcy or insolvency laws by or against Trustor.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, selt-help,
<br />repossession or any other method, by any creditor of Trustor or by any gove►nmental agency against eny property securing the
<br />Indebtedness, This includes a garnishment of any of Trustor's accounts, including deposit accounts, with Lender. However, this
<br />Event of Default shall not apply if there is a good faith dispute by Trustor as to the validity or reasonabfeness of the claim which is the
<br />basis of the creditor or forFeiture proceeding and if Trustor gives Lender written notice of the creditor or forfeiture proceeding and
<br />deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole
<br />discretion, as being an adequate reserve or bond for tha dispute.
<br />Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that is not
<br />remedied within eny grace period provided therain, including without Ilmitation any agreement concerning any indebtedness or other
<br />obligation of Trustor to Lender, whether existing now or leter.
<br />Everrts Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation
<br />perty of any of the Indebtedness 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 Changs. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or
<br />performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believas itsetf insecure.
<br />Right to Cure. If any default, other than a default in payment is curable and if Trustor has not been given e notice of a breacF� of the
<br />same provision of this Deed of Trust within the preceding tweive (72) months, it may be cured if Trustor, after lender sends written
<br />notice to Trustor demanding cure of such default: (1) cures the default within fifteen (16) days; or (2) if the cure requires more than
<br />fifteen (15) days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the defauft and
<br />thereafter continues and comp(etes all reasonable and necessery steps sufficient to produce compliance as soon as reasonably
<br />practical.
<br />RIGHTS AND REMEDIES 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 />Acceleretion Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Note secured hereby,
<br />Lender may declare all lndebtedness secured by this Deed of Trust to be due and payable and the seme shall thereupon become
<br />due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may:
<br />(a) Either in person or by egent, 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 />owrt name or in the name of Trustee, and do any acts whlch it deems necessary or desirable to preserve the value,
<br />marketability or rentebility of the Property, or part of the Property or interest in the Property; increase the income from the
<br />Property or protect the security of the Property; and, with or without taking possession of the Property, sue for or otherwise
<br />collect the rents, issues and profiYs of ihe Property, including those past due and unpeid, and apply the same, less costs end
<br />expenses of operation 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 collection ot such rents, issues and
<br />profits, and the application thereof shell 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 coNection, receipt snd application of rents, Issues or profits, Trustee or
<br />Lender shall be entitled 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 sale;
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specificaffy enforce any of the
<br />covenants hereof; and
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