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<br /> 13. L.END�ii'3 RItiH7 TO COMMF.NCE OA DEFEND LEQAL A�!n�N9'horob�or ehnnl'I�mme�r Q�g��fl,��noynlnelact�io conmmnnco,�in or onoin and �
<br /> � throatoncd"ncilon,a�11,or olhor procaodlnp nflr,ct�np tho Pro►wny. Q Y aPPo p �
<br /> � C�rrnntor(o eny�actlonuorroormleiako�omisslon�oendo�ln ynpofia nl�p o�iho aciion�s doecribod In thorlparagrayph or nny demnQea roeultlnp horohom Nothl ip
<br /> contelned herAln wlll�xevent Lender from taking the ectlone dosultwd I�thle paragreph In Ite own n�mo. ,
<br /> nn� dreums aincea. arantor ehall Iemmedlet ly proNde Lender wit wrft en notlpce�oi and Indarmlty an�d ho d lo ndei�and Ite ch eeholdo o�dlr ctar�enotflcorar "' =
<br /> omYployeos and aponta harmless Irom all clalms,„da�me�io�tho Plroeperl�yGln�cluding,b�i�nottllmit d o�tehoso Involvin��Haznrdoue Materinls)�IC antor�upon
<br /> other legal procccdings(cumuiativoly'Clnlms'�pa p �
<br /> the�a�on�he ewl�tehr In�the'alte�atl e,�nLender�ehaldbe en itled o employ�Alta owndlegel�counaeinroydofand Isuch Clalms a16C�rant r's cost•��rantor�e
<br /> conn ehall euMve the torminatlon,reloase or toredoaure of thla Doed ol Truet. ,
<br /> obllgatlon to Indertnfty Lendor under thla paragrnph
<br /> � o6pa�ngofNDart eS9Upon ihe�equoseAt Lende�C�rent�shNl deposit wnl hnilender�eatchPmonih one•tweiflh(t/�12j oeh testlrtated annualrNsutlance ,
<br /> m� y
<br /> � j pre um,taxes and nssessmants penainlng to the Propony. So long as thero Is no delault,these arraunts shall be app�led to theho lu ds�a�n de o .
<br /> nsssssmenis and Insurenco as requlred on tho Property. In the event of defsult,Lender chtili have the right,at Ite sole optlan,to epply
<br /> � pay any taxes or egalnst tho Oblipations. Any funds appllad may,at Lender'c option,bo nppllad In rsverse ordor of ihe duo datu thereot.
<br /> end eNamineTins�pe�nd meke cTMopios o agan�tors�bRook Aand r�eo�ord RpTenalol 8 to,he P openy�f om timatta tlmee Grardot sheil provide any ia sista�n�
<br /> � Otd „ ' I .
<br /> �uired bn�1 rerpectehe�ranto�sh�al�olte 1he�exfstenrA of Lenders bo�lnef Gal nterest In f�ts��books enkd reco drs perta nn gbtoBheuPropeny. Add�clenally,
<br /> Cir t��or shall report,In a form satistadory to Lender,such Infarmatlon ea Lender muy requ��e���Q(���f���u ncy ea Lenderrmay deslg�a e. AII '� �f���
<br /> � I Informatlon shetl Ye tor such pedods,shall reflecl arentor's records et such time,and shap '..�^�':�-�,P-.
<br /> � Inforrrgtion fumished by C3rantor to Lender shali be true,accurate end cortplete In ell respecta,and slgnud by C3rantor It l.ender requeste. •�,:��«,__
<br /> • I ...?!?"',�'..._ -
<br /> 17. ESTOPPBL CERTIFlCATES. Within ten(10)days aHer any request by Lender,Cirnnror shell deliver to Londer,or eny Imended trensferee ol LendePs :��
<br /> � rights with respect to ihe Obligationa,a signod and aclv�owledgod statement spedtying(a) the oulctanding balence on the Obllgatlona;ond(b)whelher
<br /> ' c3rantor possosses onY delms�def°nsos,set•oNs or oounterclalms with rospect to the Obligatlone and,If so,the naturo of such clalms.defonaea,aet-oNs or � ��,__
<br /> ��.—..�...:_
<br /> �� counterclaln�s. Cirantor wlll be condusivery hound by eny representatton that Lender may mako to the Intended transferee with respect to iheso matturs In i ��-.L�•
<br /> � � the evont that Orentor falls to provlda tho requeated statement in a tlmeiy manner. �
<br /> t.' 1B. QEFfAULL C3rantor shell be in defauh under thla Deed of Trust and tho Trustee's powar shall becoma aperative In the event that Orantor,�ortower or � .�li�i_
<br /> ' �.i, �,sa„��--
<br /> „ any guarentor of the Obligations: �'�_':
<br /> J i .,.�^� ,.,�
<br /> (a) falls to pay eny Ob��9etlan to Lender whon due; y, �,.
<br /> • (b) falls to pertortn any Obligatbn or breschos any warranty or covonant to Lender contalned In thls Deed of Trust or any other prosent or future �y
<br /> � agroement; "`" `
<br /> �; (c) destroys,loses or damages ihe Property In any materlai respect or subJacts the Properry to selzure,conflscatlon,�r condertnation; � �
<br /> ' ___�t (d) seeks to revoke,teminate or otherwise Ilmh ils Ilablliry under any guarenty to Lende►: ;��,,�' }'
<br /> ,.-- •-� (e) dies,CeCOm9s legai'ry ina+ii4+aioii2��o�a��'�'�'t°'�'�n�""i•�'"O°"�s Insolvent, makes en as�Ignment tor the beneflt ot aedhcrs,lalls to pay
<br /> F: debts es they become d�e,flles a petitlon undsr ihe federal benlvuplcy laws,has an involuntary petttton in benWUptcy fliad in wnicn uranior,Sur�w:ar
<br /> �*;; or ony guarentor�s na►ned,or has property taken under any writ or process of court;
<br /> , (f) ollows goods to be used,trensported or stored on the Proparty,the possesslon,transponation,or use of which,Is Illegal; , � ,
<br /> �:i (g) al�ows eny party other than Qrantor or Barower to assume or undertake any Ubllgation without lhe written consem of Lender;or I
<br /> � (h) causes Lender to deem itsalf Inseaire due to e signlflcant dedine In ihe value oi the Property;or If Lender,in good feith,for any reasan,belleves .;�
<br /> ihat the prospect of payment or perfom�ance la Impalred. k -;j �.
<br /> ,.� 18. RNiHT9 OF LENOER ON DEFAULT. If there is a detault under thls Deed of Trust,Lender shell be entitled to oxerdse o�e or more of the tollowinp •?
<br /> remed�es without notice or damend(excopt es requlred by law): �;{ ; "'
<br /> (a) to daclare ihe Obllflations Immedately duo and payable in full; ,.
<br /> (b) to coliect the outetanding Obllgatlons wlth or wfthout resorting to judldel procesa; at a aa� roasonabl
<br /> (o) to requlro arentor to dotiver and make evallable to Londer any personal property or Chanels oonstituting the Property Y
<br /> convenbnt to Cirentor and Lender; .
<br /> ..,� (d) to emer upon and take posseaslon of the Property without applying for or obtelning tho appoiniment of a recelver and,at Lender's option,to _
<br /> , ,� appolm a receNer wfthoul bond,without flrst bringing suh on the Obllgetions end without otherwlse meeting any statutory oonditlona reganiing �� •,�•
<br /> • .r�l,
<br />- rocelvers,It being Imended that Lender chall havo thle contmctunl rlgM to eppofnt a reeelver, �
<br /> (e) to er.ploy a meneglnA a9errt ot the Property and lat the same,elther In Truatee'e own name,In the nama ef Lender or In the nama of arentor,nnd C --
<br /> J' � receive the rente,Irtcomes.Issues end protits of the Property and apply tho seme,after payrnent of ell nocessery cher8es and expenses,on eocount of �-_=-
<br />- i� ' � r 1F16 Obu$9110fl6: �'_
<br />" ' ; �� te pay any sums In eny fortn or menner daemed expedient by Lender to protett ihe seairity of lhla Deod of Trust a to cure any defauit other than _---
<br /> ' j, t of interast or prind�al on tha Obliga�ons; `�__
<br />_-�,�, " ' (pjY t oredose thia Deed ot TNSt judidaliy a nonjudidally end to direct the salo of fio property through exerdse of the powor of eale as referenoed In _ _
<br /> ot
<br />"' t� �geph 20 t�xeof In acccordance with epplicable law; �.���--�
<br />'� ' �` (h)to set-0H Orantw's Oblig3llona against eny artaunta owed�rnntor by Lender Induding,lwt not Ilmitod to,monies,Insirumente, end doFocft ` _
<br /> �=���:; • nocourrta malntelned with Lender or any wrteMty axle.ting or future amllato ot Lender,and
<br /> �,�,:il�_�:��: ,;:� ,; (q to exerclse ali other rights evallablo to Lendor under eny other wdtten agreortqrit or aq�llcable law. �`--__� -
<br /> �1�;; Landersr�Me are currulativs end may bo exercised topether,separatety,and In eny order. In the evern that Londer Instkmes en actlon ceeWng the �'� �;�dp;,;
<br /> rrt ro In en actlon egalnst Grentor,firantor walves the sting of any bond which ml ht
<br /> , recovery ot eny of tho Property by way of a preju�gne med�r p°
<br /> otherwise be requirod. Lender or Lender'e deslgnee meypurehase the Property at anp sale. Praeeds of any Trusteo s sele hereundor shAil be appl e�d ���w��
<br /> � �'' � flrst,to the costs and expensea of exorclsing tho or ot tele end ot the sale,Indudng the payment ot the Trueteo's foea actually Incurtc+d and not to _
<br /> � 1i,: �.��•_
<br />' �; exceed the amourd which rrey be pruvided for In t is Deed ot Trust,second,to payment of the Obllpatlono secured hereby,thlyd,to the payment of iunlor ��,g� Y
<br />_ , . �, lN���,Rqrtgoges,or other Ilenhaldena,end the belanco,It any,to the person orpersone lagalry entltied thereto. The properry or any part�herool may \�,��,�_ _
<br /> be sold In one pnrcel,or in such parcels,rrenner or order as Lender In Ns sole disaetlon may elect,end ona or more exerclses of the power herein granted ��.,� •� f,��
<br /> '.�'�� shalt not exlfngul�h w oxhaus►the power unloss the entlra propery is sold or the odlgations aro pald In tulL � , �r.'..� ��
<br /> �.:,
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<br /> 20. TRUSTEE'9 EXERCISE OF POWHR OF SALE ON DEFAULT: It Lendor electa to sell�ranta's Interest In the Proporty by exerclse of tho powor ot ��'��% �`4,,:+..
<br /> sala heroin cantatned,Londer sh�ll noti(y Trustee in the m3nner then requlrad by law. "`�17iY; ' -
<br /> ..;.• ,::T..�:"._.�
<br /> :, ;,,.,,,..c,., .
<br /> • Upon recelpt of such notice of Lendor and at the direcllon of Lender,Trustee ahall cause to be reoor�d,puhl�shed end dollvered such notfcea oi dofauit '.:; •:; .. •,j•
<br />_ ' �1, end noticee ot sa{e as may then bo requlrod by la�v and by this Deed of Trust. Trustee shNl,onty at tho directlon of Lender end without domand on Grentor, '�,;!,,•. .• . . ••
<br /> . , ,�; after auch time as may then bo requlred by Iaw end afler recordatbn of curfi notice of delault end efler notloe of cale having been given as required by law, � '
<br /> sell the ProperN at ihe time and place of sale flxad by It In such notice ot sale,efther aa whde or In soparete lots or parcels or Items as Lender shali doem
<br /> -
<br /> : 1 oxpadlenL end In such order�as k�may dette�h►�e���Pr�,M��sha Ildeilv��t�o such au�chaser or�puech sers thereothksungood andlsuNido�dead ortideeds
<br /> - - . . . - ---- --._.� _,._��� _ - -_
<br /> . _�-.____ .. r sa�9.a ao on`�mmao naq u�...�.-'�'..°---+-- � — . --_ --- ---°- -- .
<br /> so so!d. but withaut any covenant or wartenty,oxprosa or Irtpliod. rno rodtels in sucn aeeo oT eny�rmuo.o� ��o o��a..•� - - --- - -
<br /> convaytng tho property p� .
<br /> � " I�n ih°usmen�peratoyl�ded y aw�postpone salo ofyell or eny Iponlon ol t ehProperty.tion,C�rantor,Trustoe or Lender,may purchaso at such sale. Tru�tee may
<br /> ± 21. REQUEST FOR NaTICE3: Orantor requesta thut a copy of any notice of dufuult end a copy ol any notico of salo horounder be mallod ta oach poreon
<br /> who is e pa�ty hereto at the address of such per�son sot forih hereln at tha sartie tlmo and In the sertn mannor requln�d as though a separate raquest
<br />-- thareot had b9on filed by nach such person.
<br /> � .. Pope3d�7`—_`!� ...
<br /> _ ' NEUOTC Rov.396 �` _
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