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<br /> P�J �. �� 1a9359 .
<br /> ' �g, TqXECi AND n3.`�iE95�AENYf'i. (3rantor ohnll pny all tnxoa nnd aeao�emonto ralntinti to Proporry whon duo nnd Immedintoly provlde Londer .
<br /> ovidonce of pnyment o}eame. Upon the requeet o}Lon�fer,(irantor shall deposit v�ith Lendor oach month ono•nvollth(1/12)of the o�tlmntod annunl
<br /> Insurance premlum,texea und aeseasmenlo pertalnlnfl to the Property. So long ue thoro lo no default,theae amounta ohnli be aopllad to the payment .
<br /> of tsxea,saseaaments and Ineurence aa nquired on the Property. In the event o1 detault,Lender ehall have the rlpht,at Its sofe optinn,to epp�y the
<br /> funde so held to pay eny taxes or ngalnat the Obllpntlona. My lunde epplled may.at Lender's option,be applled In reverse order ot the dus dute
<br /> thareof.
<br /> 1E. INSPECTiOW OF PAOPERTY, BOOKS,RECORDS AND R£PORT3. Orentor ehall aliow Lender or Ita agente to examino and Inapect the
<br /> Properly and or.amine,Inopect and make coplea ot drentor's boake and recorda pertelning to the Property irom tlmo to time. �rantor shall provide
<br /> eny a»sletance roqulrcd by Londor tor thoao purposes. All of the algnatures and Intormatlon contained In Orantor's books and rocorda shail be
<br /> ' Igenuine,trus,accurats nnd complste In all reep�cts. �tantor shall note the existence ot Lender's beneflcfal intorsst in it� boolc3 and recorda
<br /> , pertalnlnp to the Property. Addltlonnliy,(irnntor ehail report,In n iorm setisfactory to Lender,suoh Intormation as Lender may request repardinp
<br /> (3rantor'e tinnnclal conditlon or the Property. The Intormatlon ehall be for such perfods,shali retlect(irnntor'e recorde at auch tlme,nnd shnll be
<br /> rendered with auch irequency ae Lender may tleslgnate. Ail Intormatlon furnlshed by Qrantor ta Lender ohall ba true,nccurate end camplete In all
<br /> ,� � � respecte,and aigned by Orantor i}Lender requeste. n
<br /> ,� 17. ESTOPPEL CERYifICATH3. Withln ten(10)days nfter any request by Lender,(3rantor shall dellvor to lendar,or any Intended tranafereo of
<br /> Lender's righta with reapect to th�Obll�atlons,a slpned and acknowledged stntement specitying(a)the outetanding balance on the Obligations;and
<br /> � (b)whether Qrantor possesses any cla ms,delenses,set-0Ha or counterclalma with respect to the Obllgations and, if so,the nature of such clalms,
<br /> defenses,set-0f1s or counterclalms. Qrentor wtll be conclusively bound by any represontatlon that Lender may make to the Intonded transferee wNh
<br /> , respect to these matters In the event that�rantor falls ta provide the requested statement In a timely manner.
<br /> 1B. DEFAULT. Grantor shall ba In default under thls Deed ot Trust and the Truatee's power ahall become operatfve in the ovant that Ornntor, `,�.^r Y,t;'+�'
<br /> Borrower or any gunrantor of the Qbligatlona: ,:;,.
<br /> (a)falls to pay any Obllgatlon to Lender when due; ��,.,i ip R-�
<br /> ,+ (b)fails to perlotm any Obllgatlon or bP88Chee any warrenty or covenant to Lender Contalnod In thls Deed of Trust or any other present or future . i;,,,,.y..:
<br /> agreement; =_--;, �
<br /> ; � (c)destroys,losess or damages the Property In any materlal respect or subJects the Property to sei:ure,conliscation,or candomnatlon; �T�
<br /> (d)seaka to revoke,torminate or otherwlse Ilmlt Ita Ilablliry under any guaranty to Lender. ��
<br /> � (e) dles,becomes lagally incompetent,I9 dissolvetl or tarminated,bacomes Insoivent,makos an nsstgnment for the benefit of creditora,falls to
<br /> pay debts na they become due,fiies a petitlon under the fetleral hankruptcy laas,hsa an Invaluntary petition In bankruptcy tiled in which Qrnntor, �,, _
<br /> Borrower or any guarantor la named,or has property taken under any w�it or process of court; �,neµ
<br /> (t) allows goods to be used,transported or stored on the Prope�iy,the uosseasion,transportation,or use ot which,Is lilepal;
<br /> �:'.._.:
<br /> � (g) allowe any party other than Grantor ar Borrower to assume or undertake any Obligatfon without the written consent ot Lender,or —�j.;.:�
<br /> � (h) causes Lender to deem Itseif Insecure due to a aignificant decline In the value of the Property:or it lsnder,In good falth,for any reason,
<br /> believes that the prospeot ot payment or pa�tormance Ia impaired. �Y �`��°
<br /> �y, �c�x
<br /> �� �� ;�. 19, pI0HT3 OF LENDBR ON OEFAULT. H there Is a default under this Deed ot Trust, Lender shail bo entitled to exercfse one or more of tho �,+,r .LL--
<br /> . following remedie9 without notice or demnnd(except ea requlred by law): ,�^�,,,�<.,""
<br /> � (a)to declar�the Ob1igatlons Immodlately due snd payable in full;
<br /> (b)to collaot the outatanding ObI►pstlona with or without rocorting to Jutllalal pro�ess; _ __
<br /> ' •• �. , (0) i0�Equ1f0 Qtflnto�to c3eiivnr nt id i i�a�o.^.v3.':�blc to Lr.^.dar eny n�rannal property or Chattola constituting the Property at a place reasonabfy ---
<br /> * �� convenient to Gruntar and Lender;
<br /> (d) to enter upon and take possesslon of the Properly without applying for or obtalning the appolntment of a recelver and,ut Lender's option,to
<br /> a����M;�;y�.;�l,f,���t nnnd,wuhout 11rst brinpine suit on tha Oblipationa and wlthout otharwise meeting any statutory condltlona regarding
<br /> " l roceNare,it baing Intended thnt Lender shall hava thla contraatual right to apprnnt n receiver;
<br />, • � (e) to employ a managing agent ot the Property nnd let the same,either In Trustee's own name,In tha name of Lender or In the nnme of
<br /> C�rantor,and recelve the r�nte,incomea,isaues and protits ot the Property and npply the same, after payment ot all necessary aharpes and
<br /> expenses,on account of the Obligations;
<br /> � h)to pay any sums in any torm or martner deemed expedlent by Lender to protect+he security of tAis Deed ot Trust or to cura any deteuit ot er
<br />�" � than payment ot Interest or principal on tna Obllgationa;
<br /> ° (g) to toreclose thls Oeed of Trust Judlclaliy or nonJudicially and to direct the sale ot the property through exeroise of the power ot sale as _
<br /> reteronced in para�raph 20 hereof In ncccordanc:e with applloable law;
<br /> �:- �.. (h)to eetoN Orantor's Obligatlons againat any amounts owed Orentor by Lender including,but not Ilmited to,moniea,Inatrumenta,and depoalt
<br /> - aocounta malntalned with Lendet or any currently exlsting or future aftlllate ot l.onder;and
<br />- � p)to exerClse all other rlphts avalleble to Lender under any other written egroement or applloable Isw.
<br /> l�• Lender's righta ara eumulative and may be exerclsed topether,separetely,and In any order. In ths event that Lender Instliutsa en actlon seekinfl the
<br /> !. recovery ot dny of the Property by way ot a preJudpment remedy in nn nction ngainst�rentae.Grantor waives the postinp ot any bond whlch mlpht
<br /> � otherwise be requlred. Lender or Lender's dasignee may purahase the Properry at any sale. ProCeeds of any Truateo'n eale heraundet eh�li be
<br />_ .. K�• applied first,to tho costa and expenaes of exerclsing the power of snle and of the aaie,including 4he pnymsnt ot the Trustee'o fees aatuelly incurred
<br /> '�=•' � and not tu exceed the nmount which may be provided tor in thia Deed of Truat,second,to payment of the Obllpations aecured hsr�Ly,thlyd,to the
<br /> '_ payment ot�untor trunt deeda,mortpa�es,or other Iienholdere,and the Aalnnce,If any,to the person or pereone Iepaliy entillsd thereto. The property
<br /> - ;.%r:�..,, or any part theraof rnay be sold In one parcel,or in su�h purcels,mannar o-�rdar aa l.ender In Ita sole dlacretion may etect, and ons or mors
<br />--,;;;-�� - i exerclses of the power heroin pranted 6ha11 zat ox,.nguish or er.hev .he power c.,ess the entfre praperty Is sold or the obllpations sro pnid In tu1L �
<br /> ;�,.;<, s:. 2D. TRUSTEE'S EXHRCISE OF POYYER QF SALE ON DEFAULT: Upnn defnult by(irantor In payment of any Obllgnttone securod hereby,Lendor
<br /> "�+'` °' may doclare nll sums necured herbby immedlatoly due nnd payable nnd ahall cause to be flled ot record a written notice ot default and eteotlon to sell
<br /> —;�r•:•H: :r �
<br /> ,y the Property. After the lapse ot auch tlme ae then may be requirod by law tollowing recordatlon of such notice uf defautt,nnd natice of eaie heving
<br /> � bean piven as then requlred by law.Trustee,without demend on Orantor,shall soll such property,elther ea n whote or In separate parcels,and In euch
<br /> ,;,, order as It or lender may determine at publlo auctlon to the highest btdder. Trustee mny postpone the eato ot nll or any portion of the Properly by
<br /> "- •;::. publlo announcement at the time and placa of eale,and trom tlma to ttme theroafter may postpone the saie by publlo announcement et the tlme and
<br /> ,_- � piace tixed by the precedinp postponement. Trustee shall deliver to such purchaser Its deed conveying the property,orportton thereof,eo sold,but
<br /> '., not or ot erwlse ehal be concluslvo proof of the
<br /> •�" .� without any cavenant or warrenty,expross or Implled. The recitels In such deod of any mattero ot 1 h I
<br /> �J�;`.-�� truthfulness theroof. My person,Including Qrantor,Truetee or Lender,mey purchnse nt such sele.
<br /> ,..,.,,a;,,.,.�.
<br /> ��^,';�"��,F;r�,�a,',';: 21. REQUEST FOR heTe o at�t eraddress of such person se tfonh hereilnatf thef same t me andyln the samoc nan err equr ed n�s hough�a e parato
<br /> ,•�,,, ... :,,,,, �, parson who is a party
<br /> -��,,��xr+b.,�;`i: requeat Sheraof had been filed by oacti such porson.
<br /> t',,r+�.,. !��'' ' 22. SEGURITY INTERE3T UNDER THH UNIFORM COMMERCIAL CODE. Thls Deed of Trust ahall be considered a flnancing staiement and a
<br /> - '`J •� flxture fitinp pursuant to the provislons of the UnNorm Commercial Code(as adopted In the stete where the renl progarty la Iocated)covering tixtufes,
<br /> ohattola,and nnicles of peraonni property now owned or hereafter attached to or to be used In connectlon with the.roperty together with any nnd all
<br /> � ropi¢cements thereof and addltions thereto(the'Chattel9'),and Grnntor hereby grante l,ender a security Interest In auch Chattels. The debtor la the
<br /> Orantor descrlbed above. The secured parry Is the Lendar descrlbed above. Upon demand,Grantor shall make,execute nnd dellver sur.h security
<br /> � �e agreements(ua auch term le detined In said UnHorm Commorclal Code)as Lender at any time may doom nocessary or ptoper or requlred to prant to
<br /> � ,,� Lender a per}eeted securlty Interest In the Chattols,and upon�rantor's failure to do so,Londer Is 8uthorizad to Bign any Buch agteement ea the agent w
<br /> of(irant�ir. Orantor hereby nuthorizes Lender totlle finnncing atatements(es such torm in r+pn^p�i�RAId Unlform CAmmerclal Code)wlth respect to
<br /> � s� the Chattols,at any 1lmo,without the cignaturo ot Orantor. Grantor wlll,however,at any tlmo upon roquest ot Lender,sfgn nuch flnancing statemeMS. �__-__
<br /> Grantor will pay all illlng teos for the filing ot such flnancing stetements nnd tor the refiiing thereaf at the times requlred,In the opinlon of Lender,by =�_
<br /> ; said Unitorm Commerclal Codo, If the Iie9 of thle Deed of Trust be subJeot to any sa y rity agroement oovodnp the C yttele,�then In the eveM et eny �„�F�,y
<br /> i 1 default under thls Deed o}Truat,ali the ri ht,title and Intetast ot Grantor In and to an end r�ll ot the Chettela Is hereb assi ned to I.ender,to ether .�
<br /> � , 1� with the beneflt of any dopoafta or payments now or heroaflar made thereof by Grantor or thv prodecessor9 or sucCessors In tltte of Gtantor In the �T-°r
<br /> �:-;t--
<br /> .F` 1� 23.PRE BUASEHIENT OF AMOl1NT9 EXPBNDED BY LENDER. lender,at LsndeYs optlon,may expend tunds(Including attomeys'tees and IeHal ��,�..
<br /> -�?��'���,.:�_ ...��,...a.��.�n anv ace reaulrod to be teken by Grantor or to exerelse any right or rometly ot Lender under thla Deed of Trust. Upon demand, �'_.:;;;;
<br /> ___- ___... --r OKr:...�-�•- -.._.. . , .....-•--�.�_r..
<br /> �.,��.�,.,�,nf fho hlehast rate ++""�°-
<br /> � Grantor shall�mmedlately refmburse Lender far all such amounte expenaed oy�enaer ioyoi�or w�u�����o�oe�.�.o.o,.�......_._.._. _._._ _..,�
<br /> described In any Obligatian or the hlghest rate aliowed by Iaw frcm the date of paymon4 until the dste of reimbursoment. Tnese auma shail be �Y. :�•.
<br /> � Inciuded In the detfnitlon of Obllgatlons heroin and ahall bo socured by tho benellclal Interest grcnted hereln. M the Obligetlona nre peld nfter the .,,
<br /> begInning ut publication of notice o4 enle,as hereln provided,or In the event Lender shali,at Ita sole optlon,permlt Orantor to pay any part of the �'�
<br /> Ob��gntfons aker the boglnning of pub!Ication ot norice ot sale,as hereln provlded,then,Grantor shali pay on demsnd all oxpenses Incurred by the
<br /> Truatee and Lendor in conneotlon with eatld publicatfon,Including reasonable nttorneys'foea to tho attomoys for tha Trustae and for tha Lender,and a
<br /> " reasonsble fee to the Truetee,and thla Dend of Trust shall be secunty for nIi such expenceo and toes.
<br /> " 24.APPLICATtON OF PAYMENTS. All paymonta made by or on behnlf ot Grantor may bo applled agalnst the amounts pald by Londor(including
<br /> attorneys'feos end legal expenses)In connectlon with the oxerclae of Its rights or romedles descrlbed In thla Deed of Trust and then to the paymoiN
<br /> of the remufning Obllgatlona In whatever order Lendor Chooses. •�
<br /> 25. POYYER OF ATTORNEY. Grantor herohy appolnts londer as Ita nttorneyIn•tnot to ondorse �rantor'a name on all fnstrumonte and other
<br /> documenta partnlning to the Obllgations or�eed of Trust. In¢ddition,Londer shall be antitled,but not required,to portorm any actlon or axecute any
<br /> document requlrod to be taken or executod by Grentor under this Deed of Truflt. Lender's performance of auch action or ex�cutto� ot such
<br /> , documenta shall not relleve Grentor from eny Obllgatlon or cure any defeuit under thls Deed of Truet. All powers ot attorney doscribed In thla Deed ot
<br /> Trust are caupled with en Interest and are irrevocable. y
<br /> dl65Chsr�gedw�ith fu�nd9�d ancedEby Lendeeregar'dlea8 ofbwhethe�r these�le sh sacu ity In e�esta o gotherrencumb a�icos Ha'e been eleased of record 8
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<br /> LPNE517 C t FormM1non Techno:op�oa.lns.(�i20/89)(�1 BJ7.�7p9 i'a�o J ot 9
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