|
20110647�
<br />DEED OF TRUST
<br />Lo�n R[o: 8U09 (Continuedj Page 6
<br />Property, whether now owned or hereafter acquired by 7rustor. Unless prohibited by }aw or Lender agrees to the
<br />confrary in writing, Trustor shafl reimburse Lender for all cosis and expenses incurred In connection with the
<br />matters referred to ir this paragraph.
<br />Attorney-in-Fact. If Trustar fails to do any oi the things referred io in the preceding parag�aph, Lender may do so
<br />for and in the name af Trustor and af Tru3tor's expense. For such purposes, 7rusior hereby irrevocably appoints
<br />Lender as Truator's aEtorney-in•fact for the purposa o# making, executing. delivering, filing, raoording, and doing all
<br />other things as may be necessary or desirable, in Lender's sofe apinion, to aecomplish the metters referred to in
<br />the preceding paragraph.
<br />PULL PERFORMANCE, if T�ustor pays ail the indebtedness, including without lim'station ail iuture advances, when due.
<br />and otherwise performs ail the obligatio�s imposed upon Trustar under this Deed of 7rust, Lender shall execute and
<br />d8liver to Trusiee a repuast for tuli reconveyance and shall execute and deliver to Trustor suitable statemsnts of
<br />termination of any tinancing statement an file evidencing Lender's security interest in the Rents and the Personat
<br />Property. Any reoonveyance fee required by !aw shall be paid hy Trustor, if permitted by applicabte law.
<br />EYENT5 flF DEFAULT, Fach of the following, at lender's option, shall constitute en Event of Oe#autt under this Deed
<br />o€ Trust:
<br />Payment Default. Trustor faiis to maka eny payment when due under the indebtedness,
<br />Othes Qefauiis. 7rustor fails to comply with or to pe�farm any other term, obligatiart, covanani or candition
<br />contained in Yhis Oeed of Trust or in any o4 the Related Docurnents or to comply w'tth or ta pertorm any term.
<br />a8ligation, covenani ar condition contained in any other agreement between Lender and Trustor.
<br />Compliance Default, FailurE to comply with any other term, obligation. oovenanL or condktion contained in ihis
<br />Deed of 7rust, the Note or in any oi the R�lated Documents.
<br />Defeult on Othar Payments. Faiiure of Trusior within tha time required by this Deed of Trust to make any payment
<br />for texes or insurance, or any other payment necessary to prevent fiEtng ot or ta ef(ect discherge of any tien.
<br />Defautt in Pavor of 7hird Parties. Should Grantor defau�t under any foan, extension of credit, security agreement.
<br />purchase or sales ac�reemenf, or any other ac�reement, in favar of any other creditor or person that mny materially
<br />affect any af Grantor's propsrty or Grantor's ability to repay the Indebtedness or Grantar`s ebitity to perform
<br />Granior's obligations under this Deed oi Trust or any of the Rolated Documents.
<br />False Statements, Any warranty, representat+on or statsmeni made or furnished to Lendar by Trustar or on
<br />7rustor's bahslf under this Qeed of Trust or the Related Documents is fafse or misieading in any material respact.
<br />eifher now or at the time made or furnished or becomes false or mislsading ai aay time thereafter.
<br />Defective Collateralization. This Deod of Trust or any oi the Related Documents ceases to be in full torce and
<br />effect (including failure ot any collateral document to create a valid and perfecYed security interest or tien) at any
<br />time and for any reason.
<br />tnsoEvency. The dissoluiion or tarmination of Trustor's existence as a going bus"sness, the insolvency of Trustor,
<br />the appointment of a receiver for any part of 7TUStor's properfy, any assi�nment for tlae benefit ot cred+tors, any
<br />typs of creditor workoui, or ihe commencement of any proceedinq under any bankruptcy or fnsolvency Iaws by or
<br />against Trustor.
<br />Creditor ar For#eltura Proceedings. Commencement oi foreclosure or farfeiture proceedings, whether by judicial
<br />proceeding, self-help, repossession or any other metiiod, by any oreditor oi 7rustor or by any governmantal agency
<br />against any properiy securing ihe Indebtedness. This includes a garnishment ot a�y of 7rustor's accounts,
<br />including cleposit accounts, wt#h Lender. Hawever, this Event of Detault shalt not apply it there is a good feith
<br />dispute by 7rustor as to the vaiidity ar reasonebleness of the ciaim which is the basis of the creditor ot for#eiture
<br />proceeding end if Trustor gives Lendar writters natice of the creditar or forfeiture procesdinc� and deAasits with
<br />Lender monies or a sure4y 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 egreement betwean 7rustor and
<br />Lender that is not remedied within any grece period provided therein, including withoui limita2ion any agreement
<br />concerning any indebtedness or other obliqation of Trustor to Lender, whether existing aiow or iater.
<br />Events Affecting t3uarantor. Any of the preceding events oacurs with respect ta erty Guarantor of any of the
<br />Indebtedness or eny Guarantor dies or becomes incompetent. or revokes or disputes ihe velidity of, ar Iiability
<br />under, 8ny Gusranty of the Indabtedness.
<br />Adverse Change. A material advarse change oCCUrs in Trustor's financiat condition, or Lender betieves tha
<br />prospect of payment or performanca ot the Indebtedness is imp�i�ed.
<br />fnsecurity. Lander in good faith believes itsel# insacure.
<br />RIGHTS AND REMEDI�S OtV DEFAULT. !f an Event oT Default occurs under this Deed of Trust, st any time thereafter.
<br />7rustee or �ender may exercise any one ar more ai the foliow'rng rigl3ts a�d remedies:
<br />Acae(arat'ran Upon patault; Additional Remedies. Jf any Event of Detautt occurs as per the terms o1 tfie Note
<br />secured hereby, Lendor may declare all Indebiadness secured by this Deed ot Trust to be due and payable and
<br />
|