|
� DEED OF TRUST
<br />Loan No: 101�43242` `��� (C011tltlued) � 0� 10 5 5 2 S Page 6
<br />Lender as Trustor's attorney-in-fact for the purpose of mak(ng, executing, delivering, filing, recording, end doing ell
<br />other things as may be necessary or desirable, in Lender's sole opinion, to eccomplish the matters referred to in
<br />the preceding paragraph.
<br />FULL PERFORMANCE. If Trustor pays ell the Indebtedness when due, and otherwise performs all the obligations
<br />imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full
<br />reconveyance and shall execute and deliver to Trustor suitable statements of terminetion of any financing statement on
<br />file evidencing Lender's security interest in the Rents and the Personel Property. Any reconveyance fee required by lew
<br />shall be paid by Trustor, if permitted by applicable law.
<br />EVENTS OF DEFAULT. Eech of the following, at Lender's option, shell constitute an Event of Default under this Deed
<br />of Trust:
<br />Payment Default. Trustor fails to make any peyment when due under the Indebtedness.
<br />Other Defaults. Trustor fails to comply with or to perform eny other term, obligation, covenant or condition
<br />contained in this Deed of Trust or in any of the Releted Documents or to comply with or to perform any term,
<br />obligation, covenant or condition contained in eny other agreement between Lender and Trustor.
<br />Compliance Defauk. Failure to comply with any other term, obligation, covenant or condition corttained in this
<br />Deed of Trust, the Note or in any of the Related Documents.
<br />Default on Other Paymerrts. Failure of Trustor within the tlme required by this Deed of Trust to make any payment
<br />for taxes or insurence, or any other peyment necessary to prevent filing of or to effect discharge of eny lien.
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on
<br />Trustor's behalf under this Deed of Trust or the Related Documents is felse or misleadtng in any material respect,
<br />either now or at the time made or furnished or becomes false or misteading at any time thereafter.
<br />Defective Collateralization. This Deed ot Trust or any of the Related Documents ceases to be in full force end
<br />effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any
<br />time and for any reason.
<br />Death or Insolvency. The death of Trustor, the insolvency of Trustor, the eppointment of a receiver for any pert of
<br />Trustor's property, any essignment for the benefit of creditors, any type of creditor workout, or the
<br />commencement of eny proceeding under any bankruptcy or insolvency laws by or ageinst Trustor.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial
<br />proceeding, self-help, repossession or any other method, by any creditor of Trustor or by eny govemmental agency
<br />against any property securing the Indebtedness. This includes a garnishment of any of Trustor's accounts,
<br />including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good falth
<br />dispute by Trustor as to the validity or reasonablenass of the claim which is the basis ot the creditor or forfeiture
<br />proceeding and if Trustor gives Lender written notice of the creditor or forfeiture proceeding and deposits with
<br />Lender monies or e surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its
<br />sole discretion, as being an adequate reserve or bond for the dispute.
<br />Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and
<br />Lender that is not remedied within any grace period provided therein, including without limitation eny agreement
<br />concerning any indebtedness or other obligation of Trustor to Lender, whether existing now or later.
<br />Ever�ts Affecting Guarantor. Any of the preceding everlts occurs with respect to any guarantor, endorser, surety,
<br />or accommodation perty of eny of the Indebtedness or any guerentor, endorser, surety, or accommodation party
<br />dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br />Indebtedness.
<br />Adverse Change. A materfal adverse change occurs in Trustor's financial condition, or Lender believes the
<br />prospect of payment or performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />F�cisting Indebtedness. The payment of any instellment of principal or eny interest on the Existtng Indebtedness is
<br />not made within the time required by the promissory note evidencing such indebtedness, or a default occurs under
<br />tha instrument securing such indebtedness end is not cured during any epplicable grace period in such instrument,
<br />or eny suit or other ection is commenced to forectose any existing lien on the Property.
<br />Right to Cure. If any defeult, other than a defeult in payment is curable and if Trustor has not been given a notice
<br />of a breach of the same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if
<br />Trustor, after Lender sends written notice to Trustor demending cure of such default: (1) cures the defeult within
<br />fifteen (15) days; or (2) if the cure requires more then fifteen (75) deys, immediately initiates steps which Lender
<br />deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all
<br />reasonable and necessary steps sufficient to produce compliance es soon as reasonably practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, et eny time thereafter,
<br />Trustee or Lender may exercise any one or more of the following rights and remedies:
<br />Acceleration Upon Default; Additional Remedles. If any Event of Default occurs as per the terms of the Note
<br />
|