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<br /> - � � �l • `�� T�g p�p q�r����, Q�tpr sha0 pay ail teu�es and assessmerrts rolaHng to the Propsrty when due and immediatety provide F.ander •
<br /> ��•Y 'c
<br /> ' 1 avldenee af payment of sesn�• IJpon tha tequest ot Lendsr,Grantor sfiaU deposit wiM Lender each mordh one�twelRh(1/12)of the estimated annuel ; � :.
<br /> . .. � ; J insurance premtum.taxes and assessmeMa perlaiNng fu the Ptoperiy. So Icng a9 there is no defautt,these emourtfs ahall be applied to the payment : . . ' L.
<br /> J - o}taxes,assassmerns 8nd fnsuranee as required on ths Froperty. In tha event of defauk,Lender shatl have the righ�at ita soie opdon,to appiy the a ; �
<br /> , • ' • 'r tunds so held to pay any taz�a�����e Ohi�ions. Myfunds appiied may,at Lender's option,be applied in revecse order of the due date t �. �
<br /> ., �
<br /> theseof. '
<br /> '�t •� ' � i8. tNSPEC710N QF PRQPERTY�BOOKS.EIECOROS A1�ID[dEPORTS-'Grentor shafl altaw Lendsr or ib agems to examine and inspact the ,, .
<br /> ' . `' Pmpsrty and examfne.inspect and make coptes of CiraMOPS books and ret:ords PeAatNng to tAe Properry trom time to tlme. Grartor shell pravida . , ,
<br /> � � eny assistan�required by Lender tar these purposea. at of tha signatures and iMom�ation coMalned irt Grantor's books and recards sha11 be `
<br /> , Senutns,true,accurato and comptete in ali respects. Grernor shatl note tha existen�of LsndePa benefiaal irnerest Us its books and records � ;
<br /> • peRalntng tn tAe Ptoperty. Additlonally.�Grantor ahall repott,in a tosm eatlstaetcry to Lender.suet►intortnaUon ss Lender may cequest regarding i,<<r '
<br /> •. , i (`,� Grarttar's ftnancfal eonditian ar tho Pcoperty. fie tnfortnaUon shali be tor suCh pedada.�hall retfect Wanmr's reeords at such dme.and shali ba � +" � ; .
<br /> cendered wid�such trequency es Lender may desigrt8te. AII intormatton tumished by Grantot to Lender sdall be true,accurate and compiste in atl
<br /> - re s p e e t s.a n d s i g n e d b y G r a r�t o r i f l s nder r e quesb. 4 � : , , .
<br />" - 17. ESTOPAEL CERTtFlCATES. �Ndhin ten(10)days after any request by Lender,Qrar�tor shatl deliuer to L en der,or any i n t a n d e d t r a n s t e r e e o f�
<br /> `� _ . Len der's r i g h t s w i t b re s pect to the Obli g a t ions,a signed end admowtedged stffiemerrt specifyl(ng(a)the outstanding balance on the Qbtigations,and � •;� . .
<br /> - -- - ^-�`� (b)whether GraRDo�P�s any cdalms.da�nses�se��cr bo d y�anyg represer�lffiUa n�that Le de r�may make t the intend d Uansferee with � - - -
<br /> - detenses.seto�is or wmuetdatms. Granto h► _��.--�__��,•_
<br /> resped to thase matters in the everrt that Orartor isils t°Provide the cequesmd smteme�in a timey mannar.
<br /> ' ' 18. EYEti'fS OF CEFAULT.An Evertt of Defauft ehati axur under this Oeed ot Trust and tAe Tnistee's power sheU becama ope�ative in the event thffi � � _. ..r�
<br /> ,� ' � Grantot,Bortowet or any guarentnr af the Obiigattons: • .. . ..
<br /> . � - (a)islts to pay any OEligatlon to Lender wAen due; , . _ . :�
<br /> � • `.s (b? fafla to per(ortn enY Obiigation ot Oreaches atry N+arrentY ar cwenaM to Lender cor�[ned in this Deed of Trust ar any other presern or fuh�re ' ;•
<br /> ,�-
<br /> - . - agreemer� , ` .
<br /> _ , (c) destrays,loses or damages the Property In arry material respeet or subJecla the Ptoparty to seizure.cu�on,or condemnaHon; .. _
<br /> . ' (d) saeks to�evoSm,termfnate or othsruvtse limR its Itabitity under anY 9uaranty tn�ender, 'z•;
<br /> ,. (e) �es,beeomes Iegally incompetern.is dissolved or tartNnated,becomes insolverti,makos an assignmertt tar the 6enefit ot credimrs.taiia to �;`r ,_,y
<br /> � '. • pay deDts as they become due.8tes a peUUort under the federat bantauptcyl laws,has an irnrolur�ry pstiUon in bankrt�ptcy flied in vfiich GrantoG ;;�_�-
<br /> Bonower or anyr guerantor is named,or hes property taken under any writ or process of courx .
<br /> . : (� allows goods to be used,transpo�d or stnred on the Property,the possesston.uansportadon.ar use of which.is iliegat; �.` - -�.-
<br /> . (g) e!!cws any paRy other tfian Grantor or Borrower to assume or underteke arty Obtigation withaut the wifuen oonseM of Lender,ar _
<br /> +�.� _ (h) �Lender to deam itseff insecure due to a sipniftcant dedine in the vatue of the Property;or if Lender,in gaod taith,for any reason. .
<br /> �. t :;�,
<br /> betieves that the prospect of paymertt or performance is impaireq. ' . —
<br /> 19.Rt&H!'S OF LENDEH OH EVEHT OF OE'�AULT. Upon the oaurrence of an Evern of Oefauk undar this Deed of Trus�Lender shall ba er►titted to '��It; ' -
<br /> � ' exerdse one or more oi tha tollovr(ng remedies w8hout nmtee or demand(except es requirad Cfl taw): . __
<br /> . _ (a)M dedarethe Ohtigatlons immedistety due and payabta in full,such acceteraton shall be automatic and immediate if the Event af Oetauk is � __
<br /> � _ afilingundertheBankmpt�.yCoda; ... �.
<br /> � -- (b)tu coilectfhe outstanding Obligattonswiih or vrithcut resortingto jufficial process; • �•�:o _ -
<br /> � (c) to requlre(irantor to deliver and make avaitabte to Lender arry persanal pmpecty or Chaltels constit�ng the Property at a ptaw reasonabty �-�__ :
<br /> comrenierrttoGrantorandLender, ;' �i�J
<br /> ` • (d) to eMer upon and taka possession of Nie PropaRy withoat applying for or obffiining the appoir�tment of a recetver and,at Lender's opt4on,to . r- -�p' ._
<br /> Nt
<br /> ' ^ appotM a receiver without bond,without first bringing suR an the Obitga�ons and without otherwise meetlng any stawmry conditlons regarding � �s:���:��
<br /> ' . ± , receivefs,it being irtended that Lender shell have thia conttactual Aght to appoirtt a receiver, —;- �-°-"�-`-
<br /> '� � � � (e) to emptay a managing ageM of the Piropsrty and tet the sama,either in Trustee's own name,in the name of Landar or in tha name of
<br /> ' Grarttor.and receive the rents,incomea Issuas and profits of the Psoperty and appty the same,after paymeM o!ail necessary�arges and —..
<br /> -• . ' expenses.on accourn of the Obligations: '' _'`'=�
<br /> (f� to pay any sums in arry torm or manner deemed expedient by Lender to protect the security of this Oeed of Trust or to cure any�H other .'' .� �•`.,r=
<br /> • than payment of interest or principal an the ObligaUons; '---.
<br /> ' (g) to torectose this Deed of Trost jadidally or nonjudicially and to direc!the sate ot the propeRy through exeraisa of the power ot sate as :- � '�.'. _ __,
<br /> reierenced in paragtaph 20,hereln,in accocdance wfUi appticable taw; ' s.��,,�=
<br /> � '_� � (h)to s3tcff Qrantor's ObligaUons aqainst any emounta oxred tirantos by Lender inctuding,but not limited to.monias,i:istruments,and deposk .`� , • , a�
<br /> accou�matrttained whA Lender or cunenUy existln or tuture affiliate of I.ender.and �,:�; ;'�i,�
<br /> enY 8 .�,.z._�_
<br /> � (�to exetcise ail other rigfils available to lender nnder arry ather wrfttan agreement or apptlaabte law. "::.c; "`t a.
<br /> Lsnder's dghts are cumutaUve and may be exercised together,separateiy.and tn any order. In the event that Lenaer institutes an aodon seaking '.�::::�r
<br /> :{-� - - tha recovery of any ot tAa Property byvray of a prejudgment remedy in an action against arantor,Qranmr watves the posSng of any bond which ��++
<br /> might othenrAsa be required. lender or Lender•s deslgnee may purchase U�e P+operty at arry saie. PlOC88d8 ot Atiy TIUSIee S 88t9 he[Bllltde� . • *:�}r�'
<br /> ehail be apptled flrst.to the costs and expenses of exerofsing the povrer of saie as�d of the sale,inGuding the payment of the Trustee's fees . � •;�:,y
<br /> . actualy ineurred and not to exceed the amoimt which may be provided tot in this Daed ot Trust,second,to payment af tha ObligaUons secured :�.:•,'
<br /> ;i � hereby,third,to the paymant of Junior uust deeds,mortgagas,or other lienholders,and the batence.N any,to Me person or persons legally '� .�>.�f,_
<br /> enUtied thereto. The Property or any partthareof may be sold tn one pareel,or in sucb parcets.manner or ordet as i�endar in its sole diswo�on
<br /> � . ��� may eTecK,and one or more exerctses ot the power herein grante0 shail noi exNnguish or exheust the power unles9 tha entire Property is sold or � ' • -- -
<br /> , the obligaUons are patd in fuil. .. `'"'=
<br /> 20.TRUSTEE'S OtERGSE OF POWER OF SALE ON OEFAULT. Upon default by Boaower in payment ot any Obtfgavons secured herebv,Lender '`�=•�
<br /> � � � may dectare all sums,secured hereby,(mmediatety due end payabie and shai!cause to Ce fited a!recotd a written nobc3 of defauit and eiectton to .' ' w....
<br /> � • ; sell the Prc$erty. After the lapse of such Ume as then may be required by taw following recorGatlon of such noUce of QetauN,and noUce ot saie , ,• -
<br /> " � ? having bee:i given as then requlred by taw,TNStee,without demand on Grantor,etialt sell suct�Property,either as awhole or in separata paraeta,and � ,
<br /> �t in such ordes as it or Lender may determine,at public aucUon to the htghest bidder. Trustee may postpone tha salo ot aU or any ponlan of the . `�� • • -
<br />`_ . ' ..' Property by publio announcement at the time and piace of sale,and from Ume to tlme thereatter may pos�one the eate by public armouncemertt at � �
<br /> . the tlme and ptaca flxed by the preceding pas�onemem. Trustee ahall detiver to such purchaser ka daed conveytng the property,or portion thereof, , .
<br /> . ... so sold,but wtthout any covenant or warranty,expcess or implied. The reGffila In sucA deed of eny matters ot fact or o�_nvise.shall be conclustve �
<br /> ' • proof of the Uuthtutnes9thereal. My person,Including Orantor,TNStea or Lender,may purchase at suct�cate. ,. ,
<br /> 21. pEQUEBT FOR NOTICES. �rarnor requests that e copy of any noUee of defauft and a copy o1 any noUce ot saie hereundet be mailed to eacfi
<br /> � ' person who is e party hereto,atthe address ot sucb person set torth hereln at the same Ume and in the same manner requlred as though a separate • �
<br /> �� ' request thereaf had been flled by each sucA person. , . . •
<br /> 22. SECURIiY INTERE3T UNOER 7HE UNiFOAM COMMERCi111.CODE. Thls Oeed of Trust sfiall be cansidered a Fnandn statement and a • .
<br /> .', � flxture flli�g purauant to the provlsions of the Uniform Commercial Code(es adopted in the state where the Property is tocatad�covedng flxtures, , . � '
<br /> . chattets,and arUGes of personai property now ovmed or hereafter attached to or to be used in wnnecUon with the Proa�cty together with eny and all
<br /> replacemerHS thereot and addiUons thereto(ihe'Chaitets'),and Grantor hereby gtants Lender a security interest in suc>�fattei9. TAe debtor Is the , . ' �
<br /> � - � Orantor descrlbed above. The secured party is the Lender described abcve. Upon damsnd,Orantor shail make,exeaRe and deliver such security ,
<br /> ' aqreements(as such term ia deilned in sald Unitortn Commercial Code)as Lender a1 any Ume may deem necessary or proper or required to grant to
<br /> . � Lender a pertected security interest in the Chattels,and upon t3rantor'sfailuce to do so,Lender is authorizeq to sign any such agreement as the aqent �
<br /> � � ot Grantor. drantor hereby authorizes Lendet to file finanGng statements(as auch term ia deflned in eaid Unitorm Commetcial Cade)wlth respeM to . '
<br /> . the Chattel9,at any time,v�ithout the signature o1 Qrantor. (3ranior w1i1,however,at any Ume upon request of tsnder,sign sucn tinancing statements.
<br /> � Grantor wiil pay all fiiing tees tor the filing ot sucA flnaneing statementa and for the refiiing thereof at the times requiree,in the opinion ot Lendar,by ' '
<br /> said UnNortn Commerclal Code. M the Iien of thia Oesd ot Trust is subJectto eny security agreement covaring the Chatteis,then in the event of any �•�
<br /> default under this Deed o1 Trus�all the rfght,t1Ue and Interest ol0rantor in and to any and all o!the Chatteis is heroby assigned to Lender,together
<br /> vrith the benefit of any deposita or paymenis now or hereafter made thereot by(irantor ar the predeoessors ot successors in Ulte o}Qrantor in the � ,�
<br /> Property.
<br /> ', . 23. REIM8U8SEMEHT OF AMflUNT9 EXPEHDED BY LEHDER. Lender,at Lender's option,may expend tunCs(Including attomeys'fees and legal
<br /> � • � �! oxpenses to peAorm any act required to be taken by Grantor or to exercise any right or remedy of Lender under thls Deed o!Trust. Upon demartd. •
<br /> . i Grantor a�ail immedlately relmburse Lendor 1or ell such amounts expended by Lender tagether with Interast ihereon at the lower o!the highest rate a �
<br /> i described in any Obiigatlon o:the highest rate allov�ed by taw trom the date of paymen!until the date of reimbursemeM. These sums shell be ,
<br /> tnciuded in the definition ot ObIlgaUons hereln and ehall be secured by the heneficial irrierest graMed heretn. If the Obiigetions are pald after the
<br /> �. � bo�inning of pubUcaUon of notice o!sale,as hereln provided,or in the event lender shall,at it9 sole opSlon,permit atantot to pay any paA of the
<br /> . + Ob IgaUons after the beginning of publication of notice of salo,as herein provided.then.�rarttor shall pay on demend alt expenses Incurred by the ,
<br /> I Trustee and Lender in eonnectlon with said pubilcation,inctuding reasonabte attorneys'fees to the attorneys tor the Trustee and for tho Lsnder.end a
<br /> • • reasonabte fee to the Trustee.and this Deed o}Trust shall be security tor all such expenses and fees
<br /> . , . � 20. APPLICATtON OF pAYME[QTS. NI payments matle by or on behalf of Grantar may be eppiied agalnst the amounts paid by Lender pneluding
<br /> ; ; attorneys'tess and tega{expenses�in connection w�th the exercise o}ita rlgMs or remediea descrilsad fn this Oeed of Trust and then to tha payment •
<br /> 01 the remalNng ObllgaUons in whatever order Lender chooses.
<br /> , i 2S. POWER OP A1TOi1NEY. Grantor hereby appoInts Lender as its attorney-in-tact to endorse Grantor'a name on ail instruments and other
<br /> , ; documents pertalning to the Obilgations ar Oeed ot Trust. 6i addi8on.Lender shall be ent�Ued.but not required.to peAorm any action or execute any .
<br /> document required to be taken or executed by Grantor under thi9 Dead o}Trust. Lendor's peAOrmance ot such action or executlon o1 such •
<br /> . ' documenis shail not relieve drantor trom an y Obli gation or cure an y default under this peed of Trust. Ail powers ot attorney descr�betl In thls Oeed o} � ' .
<br /> Trust are coupted with an Interest and are irrevocabie. '
<br /> "__ . 26. SUBROOATION OF LENOER. Lender shail be subrogated to the rights of the holder oi any previous Iien.security interest or encumbrance �
<br /> • . - discharged vmh funds ad�ranced ioy Lender regauciless of wi�eintl�ti�ese i+e��.se�vniy���tr�ests or ott�er ancurobranCe3 Aa�re Geen r8ieaseri a!rsc7a�rct. ---- ,-------
<br /> � tvVES•�C • cormduonTMn.n•o���s��c i•t 9R;) t9C01'YJ�J79P pagoJO•S C`v ` � t � .
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