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<br /> � ' 16. TA1(ES AND A98E83MEN78. Orantor shnll pay�II taxos and aoaossmente rolatinp to the Proporty v�hon duo antl Immodlutely pravlde tonder ,
<br /> I evldonco of puymant o1 oeme. Upon tho roquost of Londor,C�rantor shall dopasit with Londor onch month ono-twolfth(1/12)of Ihe estimnted nnnuel -
<br /> Insurance promlum,taxes and aeseesments pertalning to tha Property. So lonp as there Is no dofault,thesn amounts ahall be applled to tho pnyment
<br /> ot taxas, assessments and Inaurance ae requlred qr�the Property. In the evant of detault,Lentler 6hall have the rlgnt,et Ita eole optlon,to apply tho ;.
<br /> tunds so held to pay any texes or agalnst the Obltgatlons. My funds epplled may,at lsnder's optlon,ba epplled in reverse ordor ot the due date Y-
<br /> Ihero0l. M
<br /> 18. INSPECTION OF PROPERIY, BOOK3, HCCOR08 AND REPORTS. (3�Antor shall allow Lender or ite ctponts to exEtmine and Inspect the
<br /> Property and examine,Inspeot and make coples of Orantor's books and recorde pertalning to tho Property from tlme to tlme. Grantor ehsll provldn .
<br /> � any assistence requlred by Lender tor these purposos. All of the signatures and Infarmatlon con4alned In Grantor'e booka and reCOrda ahall be
<br /> . genuine, true, accurate and comploto In all reapocts. Grantar shall note 1he exlstence ot Lender'e b9neflclal Interest in Its b�oks and recorde ;
<br /> pertalning to the Property. Additlonaily,(3rantor shall raport,In a form satlataotory to Lender, such Informatlon as Lender may request regarding
<br /> e de�ed withnsuah frequtency ashLende may desigoate. AI�InlormaUon fumished by�tantorllto Lle de�r�sha/l be trueaa cu ato and c mpleteel^8e _
<br /> respects,end signed by Qrantor it Lender requesta.
<br /> � 17. EBTOPPHL CERTIFICATES. Withln ten(t0) days sfter any request by Lender, �rantor ahall dellver to Lender,or any Intended transferee of
<br /> Lender's righte wlth reapect to tho Obligationa,a signad end acknowlodged etntement specitying(a)the outetending balance on the Obligatlons;and
<br /> (b) whether C3rantor possessas any cialms,dofenses,sebofts or counterclelma wlth respeot ta the Obllgations and,If so,the nature of such clalme, ,
<br /> dotonses,set-uHs or Cauntercialms. Grantor wlll be Conclusfvely bound by Any ropresentation that Lender may make to the intended transferee with
<br /> respect ta these mattars in the event that Cirantor falls to provide the requested statement fn a timoly menner. ��
<br /> i8. EVENTS OF OEFAULT. M Event of Default ehall occur under thla Dead of Truat and tha Truatee's power shall become operative In the event that .
<br /> (3raMor, Borrowar or any guarantor uf the Obllgatlone: �
<br /> (a) fells to pay any Obllgatlan to Lender when due;
<br /> (b) iails to(�eAorm any Obllgation or breaches any warrunty or covonant to Lender contalned In thls Deed of Trust or any other present or future
<br /> • agreement;
<br /> (o) destroya,losea or damagea the Praperty In sny materlal reapoct or subJeata the Property to selzuro,confiscatlon,or condemnutlon; '$4����
<br /> � (d) seeks to revoke,terminata or othervviae Ilmit Ita Ilabllity under any gunrnnry to Lender; '" �:•
<br /> (o) dlo�,becomes legallv incom(�etent,ia dissolved or terminated,becomes insolvent,makes an assignment tor the benefit of credltors,fells to ;;.;�i�
<br /> pay debts sa they become due,flles a petltlon under the tederai bankruptoy laws,has an Involuntary petitlon In bankruptcy fiied In whlch Grantor, _
<br /> � ' Borrawer or any guawntor Is named,or has proporry taken undor any writ or proceas of court; ,�:,��`,
<br /> � (q allows pooda to be used,transporied or stared on the Property,the posseaslon,transportatlo�,or uso of which,Is illepa�: r r,�::; -
<br /> (g) ellowe any party other than arantor or Borrower to asaume or undertflko any Obligatlon without the written consent of Lender;or ��'� � Y �
<br /> ? (h) causea Lender to deem Itseit Inaecure due to a significant decllne In the value of the Property; or If Lender, in good faith,for any reason, • :;,�.�y��,
<br /> believes that tha prospeat of payment or pertormance la impalred.
<br /> 19. HiGHTS OF LENDER ON EVENT OF DEFAULT. Upon the occurrence of an Evont of Detauit under this Deed�i Trust,Lender shall 6e entitled to �" ; . ;
<br /> ' exerdse one or more of the following remedlea without notice or demand(except as roqulred by law): '�'i"' •
<br /> r� (a) fo declare the O b l lga t ions Immedlately due and pa yablo In full,auoh acceleratlon shall be automatlo und Immedlate I}the Eve�nt of Detault Is � ,'
<br /> ,3. � a filing undor the Bankruptcy Code; • ��
<br /> !+ � @) to collect the outstanding Obilgatlons wlth or without resorling to Judlclal procasa;
<br /> (o) to requlre Cirantor to dellver and maka avallable to Lender any personai proparry or Chaaels constituting the Property at a piaca reasonably :,
<br /> convenlent to�rantor and Lender;
<br /> (d) to enter upan and take poasession of the Property without applyinp for ar obtalning the appointmant of a receiver and,at Lender's optlon,to
<br /> � - Cppolnt a roceiver witnoui bonci,wii��o�i i{ret briny�g�#on.l:s Ob'•'•6sLfl•"•s e.^•�±wit�,m�t ntherwise meetina any otatutory conditlons regnrding _
<br /> � receNera,It being intended that Lendor ehall have thls contractual right to appoint e rocelvar; '°;:; ' � �;
<br /> (e) to emptoy e managing agent of the Property and let the eame,elther In Trustee's own name, In the name of Lender or In the name of
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<br /> " (irento►,and receive the rents,Incomeo,issuea and profits of the Proper4y and epply the same,after payment of all necessary charges and ���e'�-. �
<br /> ' oxpenses,on account of the Obilgatlons; y �,, ,;._,
<br /> � (f) to pay any auma In any form or manner d0emed expedlent by L.Ander to protect the securiry of thia Deed of Trust or to cure an default other �Y � } �
<br /> than payment of interest or princlpal on the Obllgations; ��!f.a •s� �
<br /> (g) ro foreclose thl�Deed of Trust Judlclally or nonJudiclally and to direot the ea l e o f t h e propeAy through exerclse of the power oi eale as �,_ 'f
<br /> refernnced In paragraph 20,hareln,In axordance with applicable law; I';
<br /> � (h)to set�off Grantor's Obilgations against any amounts owed Grantor by Lender Including,but not Ilmited to,monies,instrumenta,and deposit �r,• �'
<br /> acoounta malntalned with Lender ar any currently exiating or future aHillate of Lender;and ,�f
<br /> � p)to exerciae all othsr righb avaliable to Lender uncier any other written ngreement or appllcable law. .; �
<br /> Lender'e riphts are cumulntive and may be exerclsed together,separateiy,and In any order.In the event that Lender Institutes an notion seeking �.. ;
<br /> f the recovery of any ot the Praperty by way of a preJud ment remedy In an actfon apainst(3rantor,Grantor walves the postinp of any bond which �;�t�
<br /> mlght othenvise bo required. Lender or Lender'e deaQpnee may purchase the Properry at nny snl0. Proceeds ot any Trustee's sale hereundsr •t .,
<br /> �', ehell be appl►ed firat,to the coste and expeneas of exerclsing the power of sale and of the eale,Inoluding the payment o}the Truatse'e tees . �A� �
<br /> actualty Incurred end not ta exceed the amount which ma be provldeJ for In thie Deed of Ttust,second,to payment of ths Ob1lp�tions secured ,��
<br /> . „ !'• hereby,thlyd,to the payment ot JuNor truat deada,mortgapsa,or other Ilenholders,and the balanco,If any,to the pereon or pereons lagelly .,r_ ,';_�":''-`-� _
<br /> 1� entitled the�eto. The Property ar any part thereof may be sold in one parcel,or in nuch parCels,manner or order as Lender In Re eolo discrotlon �ry.��-:-
<br /> � '� may etect,and one or more exercises of the power heroin grented shall not extinguish or exhaust the power uniess the entire Property la eold or ,.
<br /> the obltgntlone are pald in full. �"`
<br /> ' � 20.TRUSTEE'S EXERCISE OF POWER OF SAI.E OH OBFAULT. Upon default by Borrower in payment of any Obllgationa secured heroby,Lender =� -
<br /> may dec1are nll sums,secured hereby,Immediately due nnd payable nnd ahall cause to be filad oi recard a written notice ot default nnd eleotlon to
<br /> sell the Property. After the lapse of such tims as then may be requlred by law tollowing recordation of such notice oi dcteult,and notice ot sate �'"'"—
<br />- � having been given as then requlred by Iaw,Truatee,without demand on(3rantor,shail eeil such Property,either as e wholo or In separate parcels,nnd � _ _--
<br /> in suah ordsr as it or Lendar may determine, at publlo auctlon to the hlgheat bidder. Truatee may pvstpone tne eale of all or eny portfon of the ��
<br /> Prope�ty by publio announcement at tho time and place of enle,nnd from time to time thereafter mny postpone the aale by publlo nnnouncement nt �� ._
<br />� � the Hme and Flace flxed by the preceding poatponement. Trustee s he l l de l iver to auc h pu r c h a s e r I t s d e e d c onve y in g the pro pe rt y,or portlon thereof, ,;..
<br /> �►o sold,but without nny covenant or warranry,expross or Implled. Tho rocitals In such d0ed of any mattera of inct or othonvise,shail be concluslve ;;,;e_,�_�_
<br /> • proof ot the truthtulnesa thereof. My person,Inciuding Grantor,Trustee or Lender,mey purchase st such salo. '+�; " , .� �
<br /> 21.REQUEST FOR NOTiCES. Cirantor re uests that n copy ot an notice of defauN and a eopy of any notica of eale hereun der bo ma l le d to onc h •�, ;,„y • '��.r
<br /> pereon who Ia n party hereto,at the address oi sueh person¢et forth hereln at the same time and in the same manner roqulred ae though a soparate ,�.�;;±`,:y{���.
<br /> � °f' " request thoreof had bean fllod by each such person. �•�•_��•-*.:,.�.�
<br /> 22. SECUpITY INTEREST UNDER THE UNIFORM COMfNERCIAI CODE. Thla Deed of Truat ahail be considared a financln statement and a '��,..`, .
<br /> fixture flling pursuant to the provislons of the Unitorm Commeralai Code(as adopted In the state where the reai property Is located�cavoring fixtures, •,,,'; '
<br /> ' � cHettels,and nrticiea ot personal property now ownod or hereafter attached to or to be used In connection with the Property together with any and atl • .
<br /> replacementa thereof and additlons thereto(the'Chattels°),and Grantor hereby grants Lendor n security Interost In suCh Chattels. The debtor la the
<br /> Grentor described above. Tho secured party fs the Lender deocdbed abova. Upon demend,Grantor shall make,axecute nnd deliver such securtry ,
<br /> agreements(as such term Is defined In sald Unfiorm Commerclal Qodo)aa Lendor nt any Ume mny deem necessery or proper or requlred to grant to
<br />- Londere perfected security intoroot In tho Chattols,and upon Cirentor's fallure to do so,Lender le authori:od to afgn any such agreement es the agent
<br /> ' ' o}(irentor. Grentor hereby authorizes Lontler to lilo financing atutementa(ae such term is definod In said Unlform Commercial Code)with respect to
<br /> ' the Chettels,at any time,wlthout the algnature ot Grantor. drantor wlll,however,at any time upon request of Lender,slyn such flnancl��g statements. „
<br /> (3rentorwili pay ail fiiin9 feas for the tlling of 6uch financing statements and for the retlling thereot at the tlmes requfred,In tho opinlon ot Lender,by ,
<br /> " gald Unitorm Commercial Codo. M tha Ilen of thia Deed of Truat be aubJeot to any security agreement coverin tha Chattels,thon In the event of any
<br />_ wIh tho benefitlofDaneyddoporsits orlpaymentstnow or�he eafter ade theroof by Grantornor the pred Cossors�orhauc essorag n ttlo of C3rnnto�8ntthe ��
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<br />`- 23, REIMBURSHMENT OF AMOUNTS EXPENOHD BY LENOER. lontlor,et lenoers opnon,may eapanu�wwa�u���uu���y o.....��a�o ,........,...•.�-. - -
<br />-" expenses)to perform any uct roqulred to bo taken by Cirantor or to oxerclse eny rlght or remedy of Lender under this Oeed ot Trust. Upon demand,
<br /> • Grantor sF�all Immedietely relmburse Lender for all such amounts oxpanded by Lendar togother with Interest thercon at the lower of the hlgheat rate ,.
<br /> described fn any Obligatton or the hiphe3t rato allowed by law from the dute of peymont until the date of refmbursemont. These suma ahall be
<br /> included ir�the deffnitlon ot Obllgationa hereln and shall be sacured by the beneifdal interest granted herein. If the Obligatlons aro paid atter tho
<br /> begInning of publlcaUon ot notice ot sale,us horein provided,ar In the event Lender shall, at Ita sole optlon,permit Grantor to pay a�y part ot the
<br /> ' Obligations after the beginning of publlcation of notice of eale,as hereln provided,then,Grantor ehall pay an demand all exponse3 Incurred by the
<br /> � ' Truetae and Lender In cannectlon wtth sald publlcation,including reasonablo attorneys'fees to the attorne��s for the Trustee and for the Lender,and a
<br />?• reasonnble fee to the Truatee,nnd thla Deod ot Trust shall be security for all such expenses and foes.
<br /> 24, APPL(CATION OF PAYMENTS. All payments made by or on behalf of Grantor mey be applled agalnat the amounta pnitl by Lsnder(Inciuding
<br /> nttorneys'toes end Iegal expensea)In connection with the exarclse of ita righta or remodioa descrlbed In thla Deed ot Trust and thon to the payment
<br /> . of the iemalnlnp Obilgatlons In whetever order Lender chooscs. f
<br />-� I 26, POWER OF ATTORNEY. Cirentor heroby appolnta Lendvr as Its uttomey-In•lact ro endorse Grentor's namo on a�l fnstrumonts and other
<br /> j dxumente pertalnlng to tho Obllpntlons or Deed of Yrust. In additlon,Lender ehnll be entitled,but not requirod.to perform any action or oxocute any
<br /> document requlred to be taken or exeeuted by (3rantor under thls Desd nt Truat. Lender's peAOrmance os auch uctfon or executlon of nucfi f
<br /> • documents ahall not rellevo Orantor from any Oblipatlon or Curo any dofnuit under thle�eed of Truat. All powere of attornoy describod In thla�eed ot
<br /> Trust era coupled with en Interest and ere Irrovocnbie.
<br /> , dscha A dw�ith tu�dsad anc d�by Londoerogar�dlesa ofbwhot or thoso8ionshtsocu iry Inta osts o�thorroocumbe nces havo beon roloasod ot roco d�
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