|
-.,� , ,
<br /> _:i.
<br /> . ..:..:,W.ivOe►.... �� . , • .
<br /> . .� ...... 'r
<br /> � N
<br /> DEED OF TRUST P��° 4 �
<br /> � 01-OS-1998 Contlnued) 9�T �l jQ�i
<br /> Loan No 624205 (
<br /> Indebtodnass or lhe r�palr or restontlon of tts Propsrty. TM nN prooMds of th�awud s1uiM rr�n th�awud all�r p�yrtNnt of aM nasonbN
<br /> cos�s,expensa,and attansya'te+�s�ncurt�d by TrustN w Und�r In conn�cHon wlth th�cond�mrution. �,
<br /> � P�oc�adinpa. If RnY procMdlnp In CondemnaMon is Akd,Trusta sh�1 prompfly notlry LendK In writinp, �nd TrusQa aht�l prompdy fak�tuch �
<br /> stepa ta may 1»r�ss�ry to doMnd the tctlon�nd obtaln th��ward.Truator m�y ba th�nominal puty In tuah proceodlnp,but LanGr�han � �
<br /> i bo mUll�d to partklpat�in Ih�prxwdinp and to b�npraNnl�d In Ih�proc�dlnp by counsN ot Ib own chdc�,and Trusta wIA dMiwr a =
<br /> duss to be dNiwrsd to L�nd�r suah InatrurrNnb as may be rsqu9stad by It hom time b Urra to p�rmll such pa�t�clp�tlon.
<br /> • � � IMPOgITION OF TAXEd,FHEd AND CHARGES DY GOVERNMEHTAL AUTFI9RITIE3. Ths Ioliowirp provlslons relalinq to povemrtHntal Wces, i . -'�
<br /> teos and ehtrpes ars a paA of thls D�sd ot Trust: .
<br /> Curnnt Tax�s,FNi�nd Cftup�i. Upon requ�sl by Lender,Trusta shall oxocuto such documonts In c�dditlon to thls Deod af Trust and�ak�
<br /> whatave�othu actlon Is raqwsbd by Lendw to perfecl and conlinw L�nd�s Ilsn on Ihs R�al Properly. Trusta ahall rNmburt�Und�r la�u ,
<br /> � ' �j�11�t��n Qjj tu ss,�lde s�dxumen ryr stamps,and other chaurpes fa nCOrdirp or�rep slierinq this D�eed o�Trusl.De�d ot Trust,Includinp wNhout '.
<br /> 1 T1xes. The followlnp shall constltute taxes to whlah thls ssotion applNs: (a)a speclAO tax upon thls rype ot Deed of Trust a upon ctl a any , • �
<br /> � part o}the Indebt9dnass seoured by this Deed of Trust; (b)a apeell�c tax on Trustor whbh Trustor b aNho�ized or requlred to deduct hom �%'
<br /> payments on ttN Ind�bt�dnass eeoured by lhia typa of Owd of Trust; (o)a tax on lhls typ�af Dwd of Trusl ctHrpNbN agtlrmt tt�l..�ndK a '' ,�`,i��k;_;
<br /> the hoider of the Note;and (d)a spaclAo lex on all a any portlon of the Indebtedrbss or on paymenb of pdnclpd and IntKat m�do by ,;:'•_�4��
<br /> � Trusto�. , •'�T�- —
<br /> � .t .1
<br /> SubMqu�nt Tvui. If 4ny tax to whbh tMs seahon apptles is enaated aubsequent to tha dat�of thh Deed of Trust,ihlS YV��t 6htN hiH�hY
<br /> ; seme e8ect as an Ev�nt of Detault(as deAnad below),end L�ndK mty ex�rciso any or aN of ib avaGtble nm�lbs fa an Ev�nt of D�GuR as
<br /> proNded below unl�ss Trustor Nlher (a)pays the tax befors It beaomas delinquent,or (b)contests the tax u proNded above in ths Taxes and
<br /> i Llens aeCtlon snd deposlts wllh Lender cash or e suHiclent corpaste surety bond or other secudly satisfactay to Lender. •`��+��-
<br /> � 9ECURITY AGIREEMENT;FIHANCIN(i STATEMEN43. The followlny provislons relatiny to lhls Deed ot Trust as o socurfty apreement are a pQ�t of
<br /> • �� INS Deud of Trust. -
<br /> SeCUhty Aqrsement. This fnsirumenl eheli oonstitute e secudty apreBment to the extenf any of the Property Constltutes flxturos u otMr !'
<br /> personal property,and Lender ehali have ali of ihe riphts of a seeured paAy under the Uniform Commerd�l Cods as ammdsd hom ume to '
<br /> � tlme.
<br /> � Security Interest. Upon requost by Lender,Trustar shall execute flnencinp statements and take whelever other action Is requested by Under
<br /> �.�� to perfect and continue Lenders security Interest In the Ftents�nd porsorwl Property. In additlon to recadinp lhis Dead of Trust In tha real _
<br /> Ab exeCUted Count trts
<br /> property records,Lander may,at nny Ume and without fuRFw►authaludon from Trustor, erp ,copies a reproducdons o
<br /> Ihls D6ed of Trust as a flnancinp stel9ment. Trustor shali reimburse Lender for all expenses�ncurred i�pertectinp or continulnp thts secudty
<br /> �' Interest. Upon default,Trustor shall assambte the Pereonai Property In a manner and at a place repsonaby convsniant to Trustor and Lond�r , ��
<br /> '� I und make It avallable to Lender withln three(3)days after recelpt of wdtlen demand from Lender. �-
<br /> � Addrsases. The maliing addresses of Trustor(debtor)and Lendar(secured party),hom wh�ch informedon concerdnp the seaurl Interest ��• . '
<br /> �[',:
<br /> c
<br /> �. ? pranted by thls Dend of Trust may be obtelned(eaoh as requlred by the Uniform Cammercial Code),are as stated on the flrst papa of thls Deed . •_, :j��-
<br /> of Trust. ,�':�'�. � �?`
<br /> �I �� ,. .h.
<br /> ; FURTHER ASSURANCES;ATTORNEY-IN-FACT. The foAowlnp provi�lons relating to further assurances and atiorney-In-fact are a pti►t ot thls �
<br /> - D�,d of Trust. — ':_�}'`-
<br /> FuRher Astttraneea. At any tlme,and from tlme to time,upon request of Lender,Trustor wlll make,execute and dellver,or wlll cause to ba
<br /> made,executed or de�ivered,to Lender or to Lender's dostqnee,and when roquested by Lender,r,ause to bs filed,recwd�d,roANd, or ± }t,D_
<br /> rerecaded,as the case may be,at such tlmes and In such ofAces and pieces as Lender may deern epprop�late,any tnd ah auch marip�pes, { ;
<br /> deeds ot trusL secu�iry deeds,seaurity apreements,Hnancinp slaternenta,contlnuatlon atatements,inshurnents of turther aasurariw.cerUecates� . -ti� "
<br /> end other dxuments as may,In the sole opinlon ot Lender,be nscessary or deskable In order to eNecclutate,compbts,perfeat,contlnue,or
<br /> • preserve (a)the obligatlons of Trustor under the Note,thls Deed of Truat,ind the Ftetat�d Dxumenb,Snd (b)tha Ibns and a�ourity Inbrests ��'�
<br /> , contrerybby�Le der n w�it np,Truo Pshe�lmburserle derWOr allcosband e�enses by u dn onnocHon wlt�heymatt�rs�eferted to In ' �
<br /> this par8graph. ;�"
<br /> Attomby-In-F�ct. If Trustor}alls to do any of the thlnps refeTed to in the precedlnp paraqreph.Lender muy do so fa and In the Nmo of a,,,w
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby Ircevocably eppolnls LenCer as Truslor's adorneY-ln-ltCt for the purposa L s���—
<br /> of maklnp,executlny,dellvorinp.fiilny, recordlnp, and dolnp aA other thlnes as mey be necessary or deslrable,in Lendars sole upldon,to �
<br /> aecompilsh the rr�ntters re ferre d to in t ha pr e c e d i n g p e r a p r a p h. ;_.�
<br /> FULL PERFORMANCH. If Trustor pays a►I the Indebtedness when due,terminates the Ilne of credit. end olherwise performs all the obllpitions �___—
<br /> imposed upon Trustor under thls Deed of Trust,Lender shall execute and deliver to Trustee a request fa fuli reconveynnce and shall execule and t";.v^�=-
<br /> deiiver to Trustor sultabte slatements ot iermirwtlon ot any flnanclnp statement on fiie evidenclnp I.enders seCU�ity Interest In the Rents and the _r_� �
<br /> Personal Properry. Any reconveyance fee requlred by�aw shall be pald byTrustor,If permltted by appilct►ble Raw. _._
<br /> �'��nn=�
<br /> DEFAULT. Each of the tollowiny,at the option of Lender,shall consHtute en event ot defauit("Event ol DelaulY)under this Deed of Trusk _ ____
<br /> t O�feutt on Indebtedness. FaNUre of Trustor to make any payment wh�n due on tlw Indebtedness. �°-�-- --
<br /> :..���_ .
<br /> Detautt on Other Payments. Fallure of Trustor withln the Nme requlred by this Oeed of Trust to meke any payment tor texes a Insurtnce,or _ ,
<br /> any other payment necessery to prevent fiunp of or to eHect discharoe of any Iien. '._ ---• �,
<br /> Compllenee Defeult. Faliure of Trustor to comply with nny othor term, obilflatlon,covenant or candltion contalned In thls Deed of Trust,the r '""��`�
<br /> Nole or In any of the Reiated Documents. •a`��� '!�
<br /> Fdse Stat�ment�. Any warranty,representatlon or statement made or furnished to Lender by or on beheY of Trustor under thls Deed of Trust, ",,
<br /> the Note or the Reiated Dxuments Is false or misieading In nny mateeal respect,elther now or at lhe Mme u�ade or furdshed. ��..'� •��
<br /> DefectiVe COilaterdlutlon. This Oeed of Trust or any ol the Related Oxuments ceases to be In fuN force and eftect(including tallure of any '
<br /> collaterai documents to create a valid and perfected secur�ty Interest or Ifen)at any time and for any reasan. „ �
<br /> Oeath or�neolvency. The death of Trustor,the Insolvency of Trustor,the appdntment of a recelver la any part ot Trustor's properly.any
<br /> _ essignment for Ihe benefil o(credltors,any type of credilor workout, or the commencement ot eny p�ocseding undor nny bankruplcy or ,
<br /> Insolvency laws by w a9alnst Trusto�.
<br /> Foreclosure,Fortelture,etc. Commencement of foreciosure or forleiture p��oceedingS,whether by pdiGel proceeding,self-help,repos59s5ion
<br /> or any other method,by any creditor of Trustor or by any governmenlal apency agalnst any of the Properly. However,thls subseCtlon shall not
<br /> forefelturehproceed nfg,p ov ded t at Truslo�glves Lender wdttaniln�ce of s ch cl�im and fu nfshes e erves oh a surety bond fo�lhe alm
<br /> ' setisieCtory�o Lender. I
<br /> I BreeCh of Other Apreement. Any bresch by Trustor under the terms of eny other apreement between Trustor and Lender that Is not remedled
<br /> within any grece period provided therel.i,inctuding wllhoul Iirtutatlon any agreemenl concerning anylndeWodness or olher obllpation dTrustor �
<br /> t0 Lender,whether exlsting now or 18ter. i
<br /> J Fu�nfa erewcttnn Guuentor. Anv of tho preceding evenis occurs wilh respect to any Guarantor o�any of the Indebledness or any Guerantor � .
<br /> ��u.....u.. .
<br /> dles or becomes Incompetent,0�tOVOkeS Of d�SpU18S the V811dlty 06 or Ilablllry untler,9ny Guaranryoi ine incinuini�iriro55� L'o��'uoP,o.....,r-..•^.. � ' -
<br />- may,but shall not be requlred to,permil the Guarantor's estate to assume uncondittonaily the obligetions arlsing under the guaranty In a
<br /> � manner sellsfactory to Lender,and,in doing so,cure ihe Evenl of Oefault.
<br /> - � IntseCUrity. Lendor in good}e�lh deems Itselt In58CUre.
<br /> I
<br /> . Existln�Indebtedneas. A delnult shnil occur under any Exlsting Indebtedness or under any Instrume�l on the Property securing any Exlsting
<br /> Indebtedness,or comrr,encoment ol any sult or other actlon to foreClose any exlsting Ilen on the Praperty.
<br /> � RlgF.t to Cure. If such a lallure Is curnble and if Trustor has not been given a notice of a breach of tta sama provislon of this Deed of Trust i
<br /> withln Ihe precedfng twelve(12) months,It may be cured (and no Evenl of Detaull voiY have occared)If Trustor,aRer Lender sends wriHen ;'
<br /> noUce demundl Cure of su�.h fa�lure: (n)cures ihe fellure withln liReen (15) duys: or (b)If the cure requkBS more thfln fiReen (15) days,
<br /> � i
<br /> �mmedialely�n�tiates steps suHicient to cure Ihe fallure flnd lhereafler confinuas and completes all reasonable and nocessary steps sulGClenl to I
<br /> , produce co�nplienCO as soon as ressongbly practicnl. .
<br /> � .
<br /> • I _
<br />
|