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<br /> I Psge i . s �,�"�'
<br /> � ot-o2-1998 DEED OF TRUST ,�,,y` �`����25 .. ,
<br /> Loan No 004824 .� (Gontinued) :;JU �
<br /> same eHocl as en Event of Detau(as deflred below),end Lender may exercise eny or sll ol Its avallable remedies for nn Event of Qefault es '
<br /> proNded bNow unlesa Trustor elther (a)pays the tex before it becomes delinquent,or (b)contests Ihe tax as provided ebove In the Texes and I y
<br /> Llens section and depoelts with Lender cash or a sufNClent corporate surety bond or other security sallslactory to Lender. ,
<br /> SGCURITY AQREEMEHT;fI4ANCiMQ STATEMENT9. The fWlowlnp provislons rolatlny to thls Deed oi Trust as e security agreement are a part of � �
<br /> thls Deed ol Trusl.
<br /> � pe sornal prnperly�and L nder shall have an of the�trlehts o eusxure partytundeh the Unilorm Co merc ep Cade estemendedUf om timo to � _-
<br /> fime.
<br /> ' Security interert. Upon request by Lendar,Trustor shall execule flnanCing statements end take whetever other aclion Is requested ny Lender
<br /> to pedect end continue Lender's secudty Interesf In the Rents and Personal Properry, In addltlon to recording thls Deed of Trust In the real .?,_;l�v,s�..
<br /> property records,Lender may,at any Ilme and wlthout further authodzatlon trom Trustor,file exoculed counlerpaAs,Coples or roprcductlons of . -,�..�,�
<br /> thls Deed of Trust as a finnnclnp statemenf. Trustor shall relmburse Lender for all expenses Incurred In peAectinq or continulnp this security ,. �
<br /> fnterest. Upon default,Trustor shflll assembla the Personal Property In a manner end et a plece reasonably convenlent to Trustor and Lender �s �,�^�^
<br /> and make II avellable to I.ender within three(3)days atter reCelpt of written demend from Londer. � ;�
<br /> n concernin 1he securfty interest �'—
<br /> Addresset. The malling addresses of 7rustor(debtor)and Lender(seCUred party),Irom which Informatlo 9 � :;�a,�
<br /> i granted by this Deed of Trust mey be obtelned(each 8s requlred by the Uniform Commerclal Code),are es stated on the tirst page of thls Deed -
<br /> , of Trust.
<br /> . FURTHER ASSURANCES;AttORNEY-IN-FACT. The foliowing provlslons relating to further assurences and attorney-In-fact are a part of this
<br /> � Oeed of Trust.
<br /> Furiher Atturanees. At any time,and from time to tlme,upon requeut of Lender,Trustor wlll make, execute and dellver,or wlu cause to be �..
<br /> � made, exeCUted or dellvered,to Lender or to Lender's designee,and when requostad by Lender, cause to be flled, reCOrded, refiled, or
<br /> � rerecorded,as the case may bo,at such Ilmes and In such ofAces and places as Lender may deem appropriate,any and all such mortqages,
<br /> i deeds ot trust,securlty deeds,security agrooments,flnancing statements,continuatlon statements,Instruments of further assurance,certificates, I
<br /> � � and other dxumenta¢s may,In Ihe sole opinlon of Lender,be necessary or deslrable in prder to sHectuate,complete,pertect,conlinue,or •
<br /> � preserva (a)the obliyattons of Trustor under the Note,ihls Ueed of Trust,and tho Related Documents,and (b)Ihe Ilens Qnd security Interests I
<br /> � law o�syreed o the cont ary by Lenderpn writing,TrustoPshae eimburserLender for al�costs end expenses Incur�etdf In connectlonlwith the ,
<br /> maflers reterred to In thls parsyraph. ;-
<br /> Attorney-In-Fect• If Trustor falls to do any ot the things referred to In the precedinp paragraph,Lender may do so lor nnd In the name of �i
<br /> Trusbr and at Trustor's expense. For such p�rposes,Trustor hereby Irrevocably eppolnts Lender es Trustor s attorney-ln-fact for the purpose -
<br /> � ot makinp,executinp,dellverinp,fllinp, recordiny,and dWng all other things as may be necessary or desirable,In Lenders sole opinlon,to �
<br /> • eccomplish the matters referced to in tho preceding paraqreph.
<br /> � FULL PERFORMANCE. If Trustor pays all the Indebtedness when due,and olherwise performs flIi the obligatlons imposed upon Trustor under this �•
<br /> Deed of Trust, LAnder shall execute and deliver to Trustee a request for full reCOnveyanoe and shall execute end deliver to Trustor sultable
<br /> i statements of terminatlon of any flnancinp statement on flie evidencing Lender's securlty Interest In the Rents and the Personal Properiy. Any
<br /> , reconveyanCe lee required by law shall be peld by Trustor,If permided by applicable law.
<br /> � DEFAt�T. Each of the followinp,at the optlon of Lender,shall constitute an event of default("EVent ot ueiauii��uncin�ii�is v�,d VI T;y�. ___ .___
<br /> I Detault on indebtednea. Fallure of Trustor to make any payment when due on lhe Indebtedness. '`
<br /> j Deteult on Other Payments. Faiiure of Trustor wlthin the time required by this Dead of Trust to make any payment for texes or Insurance,ar �
<br /> , any other paymeut�iscessary t0 provont filing Of or to ekect dlu:her�e af any Ilen. .
<br /> Comptlence Default. Faliure of Trustor to comply with any other term,obligatlon,covensnt or condition contalned In this Deed of Trust,the
<br /> Note or In any of the Related Documents. �
<br /> � FoIN St�ements. Any warranty,representatlon or statement made or furnlshed to Lender by or on behalf of Trustor under thls Deed of Trust, .�
<br /> • the Note or the Related Dxuments Is false or misleadinq In any materlal respect,elfher now or at ihe dme made or furnlshed. .
<br /> QEtective Co1l�terallzMion. This Deed of Trust or any of the Related Dxuments ceases to be In fult forCe and eftecl(includlny fallure of eny ,�wv�,:
<br /> � collateral doCUments to create a valld and per�ected securlty Interesl or Ilen)at any time and(or any reason. .=�
<br /> �,r�-
<br /> De�th or InaolvenCy. The death of Trustor or the dissolutlon or terminaUon of Trustor's existe�ce as a golny buslness,the Insolvency of _
<br /> • ; Trustor,ihe appolntment of a recelver for any pert of Trustor's property,any 8ssipnmenl for the beneHt of creditors,any type o}credltor workout, v
<br /> � or the cammencement of any proceeding under any bankruptCy or insolvency laws by or ayainst Trustor. :�.':�:,
<br /> j Fweclowro,Forfelturo,etc. Commencement of toroclosure or fodelture proceedings,whether by Judiclal P Ho eve��th stsubsecleon s a I�ot , ����'
<br /> � or any othar method,by any credltor of Trustor or by any governmental ayency agalnst any ot the Properiy.
<br /> apply In the event ot a qood falth dispute by Trustor as to the vfllldity or reasonableness of lhe clalm whlch Is tho basls of the taeclosure or ���:-
<br /> I forefelture prxeediny,provided that Trustor gives Lender wrilten notice of ouch clalm snd furn�shes reserves or s surety bond tor the clalm _ �
<br /> � satistactory to Lender. �
<br /> . � �.
<br /> ! Breach of Other Apreement. Any breach by Trustor undur the terms of any other agreement belween Trustor end Lendor that Is not remedled ••y-;_
<br /> � wifhln any grece pedod provided thereln,Including without Ilmitatlon any agreemeM conceming any Indebtednass or other obllyatlon of Trustor .<_:s,�;�:
<br /> Y'
<br /> � to Lendor,whether exlsUng now or later. «��_;
<br /> � Events Attectlnp Gu�rantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor r
<br /> ' dles or becomes Incompetent,or revokes or disputes the valldlty of,or Ilsbillty under,any Guaranty of the Indebtedness. Lender,at Its optlon.
<br /> • may, but shall not be requlred to,permlt the Guerenlor's estate to assume uncondltionally ihe obllgations arising under the guarenty In a +s
<br /> menner satisfactory to Lender,and,In doing so,cure the Event of Default.
<br /> Adveree Chanpe. A mater�al adverse change occurs in Trustor's finAnclal condition, or Lender believes the prospeCt of payment or i
<br /> � performance of the Indebtedness is Impaired. '
<br /> I -
<br /> Ineecurlty. Londer in go�d faith deems Itself Insocure. r
<br /> Ripht to Cure. It such a fallure is curable and Ii Trustor has not been glven a notice of a breach of the same proNSion of thls Deed of Trust i
<br /> notice de nr dl g'cu e of such�f lure:s(a)Cu eseheu�fli ure within�Neen(16)8days;NO'r h(b) Ifhe cu e�requlreSrmor�erthantNeenn(F)days, � '
<br /> Immedletely Initiates steps suMiclenl to cure the fallure end ihereaHer continues and comptetos an reasonable and necess8ry steps suNlcient to
<br /> produce compliance as soon as reasonably prscticul. �
<br /> RIGHTS AND REMHDIES OH DEFAIN.T. Upon the accurrence Of nny Event ot Detault and et any time thereatter,Trustde or Lender,at Its option. I
<br /> may exerclse uny one or more of the followfng righis and remedles,In addltion to any other rlghls or remedles provided by lew:
<br /> Acceleratlon upon Defeuit;Additlonel Remadles. If eny evenl of default occurs as per the terms of the Note secured hereby,Lender may
<br /> declare ali Indobtedness secured by this Deed ot Trust lo be due and payable and Ihe same shall thereupon become due end payable without
<br /> _ A��nracantmant.demand.nrotest or notiCe of any kind. ThereBiter,Lender may:
<br /> (a) Efther in porson or by agent,with or withoul bringing any aCtlon or proce8ding,or by a recefver appointed by a court ancl wnnout :
<br /> rpgnrd to the adequacy of Its security enter upon and take possession of the Property,or eny parl ihereof,in its own name or In the name
<br /> of Trustee,and do uny acts which il deems necessary or desirable to presorve the value.marketability or rentabillty ot ihe Property,or pert �
<br /> of the Properry or interesl In Ihe Property;IncreBSe the fncome from the Properry or protect the securtly o�Ihe Property:and,with or wllhout
<br /> faking possesslon ot the Properry,5ue tor or othenvlse collect the rents,Issues and profits o�the Prope�ly, Including ihose past due nnd �
<br /> unpaid,end apply Ihe same,less costs and expenses of operation and collecilon,including attorneys'fees,to eny Indebtedness secured ,
<br /> by this Deed of Trusi,all In such arder ss Lender may determine. The entering upon and teking possesslon of the Property,the Collectlon ;
<br /> o�such ronts,issues and proffts,and the epp��catlon theroof shall not cuie or waive eny deteult or notice of defflult under thls Deed of Trust �
<br /> or invalidflte any act done In response lo suCh dofeuit or pursuent to such notiCe of delault; and, nohvithstandfng tho continuance in
<br /> possession of tho Property or tho colleclion, recc+ipt and epplicatlon of rents, issues or profits,Trustee or Londsr Shall be entitled to
<br /> ' exercise every right providod for m Ihe Note o�the Rolnted Uocumenis or by law upan the occurrence ol eny event ol default,InCluding the
<br /> righl to exercise the power of sele;
<br /> (b) Commence a��aCtion tn foreclosa Ihis Deed of Trust as fl mortgege,epp0int a receiver or specifically enforce any of ihe covenents
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