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<br /> 18. TAXES AA10 f�SSESSldENT$. Grantor st�all pay all taxes and a9sessments relating co Property 4vhen due and immediateiy provtd�Londer t_ ,
<br /> ovideneo of payment of samo. Upon the request of LenCer,QraMOr ahaU depasit xrith Lender euch morttt�on�tweifth(1/121 of the estimatsd annuai � � _
<br />. inswance premium,taxss and assossmertts pertaining to tho Propsrty. So tang as there is no defau�L tRese amounts ahslt pe appliod to the payment � . . _
<br /> of tazes,assessments end insurance as raquiretl on the Rroperty. In the event of detaul�Lender shall have the right,at iq sole option,to apply the , _ "
<br /> funds so hetd to pay any tanes or against the Obligatons. Any tunds aeRplied may,a4 Londer's option. be epplied in reverse order of the ane date ,' � •� . "
<br /> thoreo4. � ' ` °-
<br /> ,� 18. I[dSPEC710H OY PROPFftiY,BQ�K�, 6tECpApS A1V0 REPOAT8. Granwr sha�l eliow I..entler ar�ts agents to oxemine and inspect the � � .
<br /> Properry and examine,inspect 8nd make Copies ot Grantor'a bnaks end recards pertaining to the PropeRy Bom time to Uma. Grantor shall provide
<br /> eny ass(statfce required by Lender for thsse purposa9. Ail of th�aynatuns and irtformation corttained in Grantnr's hooks and records shail be
<br /> � genuina,true,soeuta4e and complete in all respects. Grantor shail no�Ufe existenoe ot l,enda+'e benefiaal interest in its boaks and recards � � .. .
<br /> parta3ning to tho Property. Additionalty,�rentor shali report.in a form satisFac�[ory to Lender,such intormation as Lender may roquest regarding
<br /> Gratitor's finanelal condi�on ar�e Property. Tha irtformation shall ba fcr suct�parioda shaU reftea Grantor's records at such time,and shall be '
<br /> rendered with such irequency as Lender may d9signate. AI1 intormation tumis►�ed by G�antor to Lender shalt bo true.accurate and wmpleto in all � �
<br /> respeCts,artd 5igrt8d by(�antnr it lsrtder requoste. �' � ' _
<br /> /7. ESY�PPEL CHRYiFICAY't3. W[thin ten (10)days after any tequast Dy Lender,Qramor shait delivar to Lender,or any intended Vansferee of -�- - " -
<br /> LendSr's rigAts vdth respeG to the Obligations,a signtfd and acknavAedgod e�Uemont specitytng(a)ths oulstanding ba(ance on the Obligations;and �.
<br /> (b)vrhetfier C�rantor possesses nny claims,defonses,setoHS or eowtorctaims wmh raspect m the ObligaNOrrs and,'rf so,the nature oi such ctaims, , � • . _
<br /> datenses,setofta or counterctalma Grantor will he conciusively Dound 6y any ropresef►taUon that lnnder may make to the Intended transferee�vith . ' ' �
<br /> respact to Utese mattera fn the ave[rt tt�at(3ramor feifs to provlde the reyuestad slalemont fn a timety manner. • -__ -
<br /> 18. OEFAULT. Gtentar shali tse in delauk under this Deed of Yrust and the Trustea's povrer shaU become operative in the went that GranMr, � -
<br /> Bo�rararanyrguararrtoroft4�eObi;gptions: • - ' �,, � _�'.: -
<br /> (e)faiW 4o pay any Obfigationto lsnder whan duo: `•.
<br /> (b)taits to pe�form any Obiigatlon or breaches any wam�nty or oovonaM to Lender cor�ined in thta Deed of Tnist or any othor preserK or tuture • � �.a'� �• `
<br /> agreemer� . -
<br /> {c) destrays,loses or damages the Property in any material respeet or subjec4s the Propsrty to seizure,canfiscation,or condemnation: , �;��.� •-
<br /> (dj seeks to revoke,terminate or othenvise umk its Iiabtiiry under any guerantyto Lender, „�_
<br /> (e) dies,6ecomes tegally lncompetent,is dissoMeC or tertninated,becomes irtsotvent,makes an assignment for the 6enefit af credi4ora,taits to � _ _
<br /> pay debts es they bewme due,files a peUtion under the tederal hankn,puy law9,has an Imrolurttary petition in bankrupuy filed in which Grantos, � �;>.-•-�-
<br /> Borrower or any gs�FUaator is named,or has properry taken undar any mit or pmcess of courfi :,��p.';-r�
<br /> ; (fl sltows goads to 6a used,transported or storod on the Properry,4he possession,transpormtion,or use of which,ts iNegal; +-..,�•. t• %�
<br /> ; (g)altows arry party other than Grentor or Borrower ta assume or urtdertake arry Obtlgation without the written conssnt af Lender,or : �'`'-��==
<br /> : (h) caures Lerr�c+r to deem itseR inseare due w a slgnificartt decline in the value of the PropeRy;or(f Lender,in gaod fa3th,for any reason, T�.�-
<br /> betieves that tfte�S�tect of paymsnt or periormance is impaired. � 4.•r: -�°��
<br /> -, t9. iiiGNTS OF l�f�l��i8 QfFAIIl.T. N there(s a detault under tt�is�aed of Tru�t,Lender shalt be entitted to exerass ona or more oi fhe ' ' :_.;.y;,4.:_.��,��_
<br /> followinfl remedies without rtaff�or damand(except 89 required bylsw): . ._ : �.
<br /> (a)to dectare the Obiiga�ars immediatey due and payable tn fult; --
<br />. :; (b)to coltect ths outstanding 06tigations w(th or v+khout resoAiog to judida!proces� . ` —_-
<br />' ' (c) tn require GranLOr to dei[ver and make avaliable to Lender any petsonal property or Chattols constltuUng the Prope�ly 8t a ptace rea:onaDty `
<br /> °T. -
<br /> '+� oornenieMtoGtarrtorartdLender, � ,. �.��'r -
<br /> �: (d)to ertter upan and talcs possesston of the Rroperty wtthout apptying for or obtatning the appoirttmeM of a reeeivar and,at Len�er's opUon,N
<br /> appoirtt a receiver without bond,without first Dringing suit or►ttq Obiigatlons and without othenvise meeting any statutory conditlorts regarding �`� �
<br /> ? rscetvers,ft being IMended tftat Lender shall hava tAts contracwal d ght ta a p p o iM a receiver,
<br />'`:
<br /> . (e) to empioy a managing;gent of the Property and let the eame,either In Ttustee's own name, in the name of Lender or in the name of � � ','.�.;.
<br /> ? Grantor,and recehre the rerrs,incomos,issuas and profits ot the Property and app t y the same,after payment of a!i neccssary charges and ••��•w' '
<br /> expenses,on excount of the Obligatlons: �� ;�;
<br /> (� to pay any sums in any!ortn or manner deemed expedisr►t by Lender ta�aofact the secu �� ,
<br />� than a ent of intarest or dnci dty of thia Deed cf�Trust or m cure any defauii c� .
<br /> P Ym P A�on the Obligo�lons; ...{„ ,;_
<br /> (g) to foreGose this Deed ef Trust jutli�ially or nonjudicialty and to direct the sale of tho�ruperty througii exercise ot ua3 aower of san as z,�,:•a ���
<br /> referenced in paragraph 7A h9reaf in aaxordance with a licable law: �.:.,.- ` ,� ;
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<br /> (f�)to set�off Gra�or'a OhTcy&UOns against any amouMS owad flrarttor by Landar includlrtg,but nat limited to,monles,irtstru�.�a�+ts,antl deposK � ..<.
<br /> a.c�aurtbrttalrtt�nedwfthLenderor Uy g �� � '•.
<br /> anyr eurten oxlsUn or tuture afHiiate oi lendor,and ���
<br /> O to exerc[:a nA other 6ghb avallabte to Lender under anyotherwrftfon agreemeM or appticahfe law. `��. +`.
<br /> Lender's r(gfits asa cumulative and may be exercised together,separatety,end in any order. In the event that Lender instltutes an acUon seaMng tha
<br /> recovery of arry c'tt►a PiropeRy by way of a prejudgment remedy in an aaUon against GraMOr,(irantor watves tfia postiny of arty bond whfeh mtght ,��r,�
<br /> aYr�erwise he requ;red. Lender or lsnder's designee may purct►ase the Properry at any sate. Praceeds of any Trustee's sale heraunder shall be
<br /> �ppllad flrst,to the co�and expanses of exerdsing ths power of eate and ot the aets,inciuding tne paymam o!the Trustee's fees setualiy incnrrod �� �Y='
<br /> �nd not to axceed ctr3 amouM which may be provided for tn th(s Deed of Tmst, second,to payment of the ObIJgaUons securad hemby,third,to the '��
<br /> paymantof Juntortrust deeds,mortgages,or othar lianholders,and the balance, if eny,to tAe person or persons legaify er�tlUed thereto. The property � .'� '"'���
<br /> or any part the:�may be sotd in ona parcel,or in such parcels,manner or order as Lender in Ms cote discroUOn may eiect,and one or more '_-��� -
<br /> exerGsea of the�cvo�r herein grantad shall not extinsuish or exhaust the pox�er�crtass the ernire praperty is sotd or ths obtigaUons are paid in tull. � �'
<br /> 20. TfiUSTE�'S�K£RCISE OF PBYIlER OF SALE OH OEFAULT: Upon dafautt by Qranior in payment of any ObligaUons secured heroby,Lsnder � ;�� -
<br /> mzy daclaro al su,;s secured heraby immediatery due and payable end shall cause to be fiisd of reoord a Mrtitten naNee of Qeffiuit end etectlon to sell '�°-;.'- -
<br /> t"m�+operty. After the tapse of such ime ss then may bo required by law following recbrdation a!sucfi noUce of dstauit,and naUce of sals Aaving -
<br /> :rr�n given as then requlred by law,Trustee,w(thout demand on QraMOr,shall sefl eucA propert/,a�ar as a whata or in s�parata parcels,and in euch ' , �".`-�','+'.
<br /> . o°stsr as it or lender may determine at�ubiio auctlon to the highest bidder.Tnastee may postporta tho sal�oi all or amr pordon of the Property by -_�+�+--- -
<br /> ' � pubilo ennounaement at the Ume and p ace oi eaie,and from ttme 4a Ume the2z�r�nay postpone the sate by publie nnnounoement st the Ums and � '
<br /> 1„ ptace flxed by tfie precading postponement. Trustee shail deiive�to auch purc"�.�s•:ts deed oonvaying the property,or portlon thereof,so so1d,but �'��
<br /> wNhout arry covenant or warranty,express or Impllad. The recitats in sueb Cee�:d any mattero af fact or otherwise shall be conctusiva proo}01 tAe ����' `_
<br /> vutMutness thereof. My person,tnctuding Grantor,Trustee or Lender,r+^�U p:m1�n�at such sale. � ,,���
<br /> 21. REQUE9T FOA HOTICES: Qrentor requesm that a copy af ar;rcniam d•dr�ult and a copy of any noUca of sale hereunder be mailed to each ��
<br /> person who is a perty hereto at the addres9 oi such person set fortP.��r.r�tra s�me time and in the same mannor roquired as though a separato ,��`��'�.
<br /> requastthereoi had bean filed by eaeh such person. '. - - _
<br /> 22 SECURlfY L�tTEREBT UND�fi THE UNIFORAA COMMERCIAL CODE T'r�i�peed of Trust shall be canstdered a flnancing statement and a •• • �
<br /> fixture fiiing purs�m to the provistona of the Unliorm Commorcla!Code(as aE�tnd in the state whero the real propertyr is tacated)covering iixtures, ���""'='`�="-°-
<br /> chattats,and ert:cfee of personal property now owned or hereafter attached to o►to be used In connectlan with the Property together vdtA any nnd all ..�,�':�;�:rru
<br /> replsCemema thsreaf and addkion9 thereto(the'Chattels'),and Q�aMOr hereby grants Lender a security interest in such Chatteis. The debtor is the • • • � '" '
<br /> Grarr.�r d�criGed above. The secured party is the Lender descrlbed abova. Upon demand,Orantor aha8 mako,execute and Qelivet such securlty ., . .;,��:�, �,;,_..�
<br /> qreorrtenb(a9 such term Is deflned in ssitl UnHOrm Commerclat Code)aa Lender at any Ume may deem necossary or proper or required to grant to � �..�.
<br /> Lo��n�a perfacted security interest In tha Chattels,and upon Grantors tailure to do so,Lender is authorized to slgn any such agreement as tho agent "�' `
<br /> o}(3t8ntOf. (3t8f1tOt 1;8feby 8u1hOfl105 Lendet to fil9 flnenCing atetttn:9�t8(89 such 18rm IS detlned in 881d Uni(Otrt1 COnttnetC181 Code)with tes eCt to • T�'t''` �`' � �
<br /> P �=:�zt,,�.�.;,��
<br /> the Chattels,a!a.�a�mo,wlthout the atDnature of tirantor. (3rantor wtll,however,ateny time upon roquest of Lart�ior,sign auch finaneing statemente. •,�;.r�,;v�-.°•���'
<br /> Grantor wlll pay�91nng tee3 tar the filing of such flnanNng statements and tor l�ne rafAing theroof at the Ume3 ruqulred,in the opinlon of Lender,by • "•�-��•- �
<br /> satd Unitorm Cccnm�rdal Cade. H tho tlen of this Oeed of Trust be subJect to any aecurity agreement cavedng ri�Chattels,then tn the event of any � '
<br /> de�au�i under tni�C�eed of Trust,all the right,Utte and Imerest ot Orentor in en9 8o any and all of the Chattals is hereby assigned w Londer,tagethor ;,•;;.. ``• '
<br /> ar�t��e benefit o}any deposNs or paymurna now or hereafter marle thereof by OraMOr or t'ne predeCessora or auocessors in ti4s qf Grentor in the ' ' ' �
<br /> pta�r:ty, ��'�' � ";.. :,-�:,
<br /> 5.;;�.;:; , .' -
<br /> 23� REIMBURSEMfcHT OF AMil1➢17T8 F�ENDEO BY LENDER. lander,at Lender's aption,may expond lundo Qnduding attomays'tee3 and leeal �•� �
<br /> expenses)to per!r:n any act requ�red to bo taken by Orantor or to oxorciso eny ng�t or remedy o!Lender under thls Oeed o}Trust. Upon demand, � ' • � '
<br /> Qrantor shall im:�6:�taiy reimburse Lender tor a�i such amounts expendad by'..onesr mgether with IMerest thereon at tha lawer af the highest rate k��• � �'1'�', ' .
<br /> described in afty QS1y�atlon or the highest rate ailowed by law from the date c!paymont until the date o}refmbursement. These suma shall be � � ��,���Si�.�
<br /> ic.eluded in the Ga4�;r.yon of Oblicat:ons herein and shatl be secured by the beneficial IrHerest grentad herein. H the Obligatlons are paid after the � • •
<br /> �a,�'r.ning of puDli:atlon of notice ot cale,as herein provided,or In the eveM Lender shail,at r�sole option,permit Granior to pay any part of the ���:, . � •
<br /> �^I,i�gations aft�r th�boginning Cr�-�blication of noUoo of sale,as hereln provlded,then.Gr�ntnr shall pay on demand all expenses lncuned by the '�^�', . '
<br /> Trus[ee and Ler.dar in connection vrith said publication,inciuding reasonable attorneys'fees to�hw attomeys for tho Trustee and for the Lender,and e
<br /> reasonable fee x 2�3 Trustee,and this Deed of Trust shatl b0 securityfor all such expenses and fees. ' '
<br /> T4. APPLtCATiCL•iti OF PAYMEltfS. All paymems made by or on behatf of Grantor may be applied aq�nst the amaunts paid by Lender Q�cluding � • �
<br /> attomeys'fees axl lagai exponsos)in connoctlon vrith tho exercise of its rigAb or remediss described Tn thls Deed o!Trust and tfien to the pnymeM � •
<br /> of the remalNng Obtigations in whatevet ordet Lendet ehooses. • .. �
<br /> 25. POWER OF A7TOANEI/. Grantor hereby appoints Lender as its attomeyan•faot to endorse Gtamor's name on an instruments and other
<br /> documents pertnining to ihe Obiigations or Deod of Trust. in addition,Lender shall be entitlotl,but not required,to peAorm any action or execute any
<br /> document requlred to be taken or executed by Grnntor under this Qeed of Trust Londer's peAormance of such action or exeeution of such { � �
<br /> tlocuments shell not retievo Granwr from any Obligation or cure any default undsr lhis Qeed of Trus�All povrers o}attomey dascribad In t�is Oeed of � � �
<br /> Trust ere eaupled v�ith an interest and are irrevocable. -
<br /> 28. SUBROGATION OF LENDER. Lender shall be subrogated to the rlghta o!the holder of any previous lion,seaurity interest or encumbrance � � � �
<br />-- di�r.hstr,,-.d xi3t iur.�:�r..n��ty L..^adcr r;,�.:ni�:os C�etner tnesa i�err�.aecan�ty intn�ests or otiier anaumbrances have been reieasoo of roeoro. � _ _- --=--°-�-- ' -
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