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<br /> � � � 02-2�1998 DEED OF TRUST Pa�4 � . ' ° _
<br /> ` �- , Losn�ia�62726 (ConUnuetl) 9�° ���°��� . . .
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<br /> SEf�t1TY AGRE�ttENT:FIMANCIWO STATEQd�tiS. The toUowing provisions retaUng to thLa Desd of Trust es a secudtyi agreomeM are a paA of �:.„ , _ _
<br /> - , c. : this Dead of Tnsl. " . ' -.
<br /> g�(tY pg�m�t, Th(s tr�tromer�t shaU eor�5ldu�a sequity agteemerA to the mdent any cf ihe Ptonetly constitutes�RUres or other , ;`
<br />- . • ` � �'z � P�o�V�De�Y.and Lender sheD Nave aD of ihe dgMs of a seaued partY unQer the Unttarm Commerdal Code as emended from Ume to ` '.. .'
<br /> . drn9. . .
<br /> .' ' gettutiy IntQres9. Upon requsst by Len6et.Tnator shaU e�ufe 9nandn8 stetemetds and take whataver other sedon is requested by 4ender `� .
<br /> • . � ' ' � to perFec�and cor�inue Lenders securily trrteresl!n the Rents and Pe�sonel Property. tn addi9nn to retor�ng Uds daed of Tmst in tt►e reat .
<br /> � , < ` j PmAelty►�nrdg.Lendat may,at e�ry ttme and vMau1 tudher authorf�9on trom Tnistor,fiie�xute0 courderpaAS.coDles ar rapro�onq of .F
<br /> _ . ` 1 Ws Ceed ot TtuSt es 8 8naneirt9 s�fement TntStor StmD retmbwse 4snder for eil eo�enses inctured in perfeding w ConUntdng this ssau(tY
<br /> • � - lr�terest. Upon deteNl.7rtstor shafl essem0(e U�e Persana!ProDerhr in a manner ar�d at a Diaee�easonahry conven:erd to Tnistw and tender
<br /> ;:x. � end make R avaGabte to Lender within Uuee(3)CaYs efter recelAt of wAtten demand irom Lender. • .
<br /> . � , pQdres�se, The ma�7in8 edCresses af Tn�s3or(dabtor)and Lender(secured party�from whfch intarmatlon coneertBng the sscurHY Interest _ � '
<br /> ' - . , re84 _ . ._....
<br />- - .-. • ,- {�anted by thb Dead of Tiusl may be cblalr�ed(eaeh as requhod by the Unitnrm Commerdal Cade).ere as statad on the fusl page of thts Oeed _T _ ,
<br /> .. ; .j, of Tnst • ` ,
<br /> _ a ;:� FUpTH�p AS8UAANCES:A7TORi6�Y-tF�D-FACT. TAe fotto►ving Drovisions reiating to turther assurances end attomeY-Ic�taet ere a part ot thts 4 ,.
<br /> Oeed of Trttst.
<br /> � �::.;, � FltMer Asstuanaea. At any tlme.and from tims ta tlme.uPan requosl of Lender.Truslor wiU maice.exewte and Qeflver.or w�eause to be -- ' �,: �
<br /> .,�. E mad�e�mcuted ar deuvere0.to tsnder or ta isndets des�gnee.and�vhen requested by Lender.eause to be fited,reeorded.re�ed.or .. .
<br /> . , rarecorde0,as fhe case may be.ai such times and In such otfiees and pia�.s es Lender may deem appropr(ato,arry and aD sw�matgage�.
<br /> � r • y deeds ot tr�s1.securih deeds.ssaiuitY egreemer�.ftnandng statements.cordinuaUOn statements.ir�strumenis ot fuRher assuranee.o�. ,
<br /> . °<;1 and otRer dncurtterds as may.fo the so►e opiNOn at Lender,be neoessary or destrabie in orQer to effeettmte.ComD�ete.OoAed.Can9nua.ar ��� ...,
<br /> � presenre (a)the obOgaitons of Trustar urtder the No t e,t h l s O e s d af T r u s l,and the Related Oocumerds,and (b)the Uens and seauiry Inte�asfs
<br />:+� � Y:.1 created by thb Oeed o}Trust as fusf and prfor Uens on the Properry,whethe�now owned ar hsreafter acquhed byTnutor. UnSess prohibited Dy . �•;�=;.
<br /> . - law or agreed W t h e eo n b a r y by l en d e r in wcltln g,Trustor shaD reimbu�se LenQet for a0 casts and e�enses inamed in eo�nec13on with the ,�,•�_
<br /> } . . ` .� ; matters reteired to in this parag�aAh. �
<br /> � `,i A1tpm�y-Uo�FBCt. if Trustor faits to do any at the things referred to in the preceding paragraph,Lender may do so for and in the neme of .. .-� �;"
<br /> Ttustor end af Tnistots e�ense. For such pucpases.Trustor hereby irtevocaDiy ap0oinb Lendar as Trustors attomey-in-facl for the Pur�ose �"•�
<br /> � ° of making,execuUng,daUvedng,filing,reeording,and doing aU other things as may be aecessary or desfrabte,M Lenders sote opinion,to �L
<br /> '�,� accompGsh the matters referred to in the pteCet6rtg paragraph. . ,• .,..:-9�,-
<br /> Fl11.L pERFOpMANt�. M Tnjstor pays eU the lndebtedt�a5s when due.and olAervvise perinm�s aU the obiigations imposed upon Trustor under th(s ���
<br /> MANL . �
<br /> Oeed of Tnlst,Lender shaD execute a�d deIIver to Trustee a raque5t for tull rewnveyance and shall executa end deIIver to Tastor suitabie • �._ n
<br /> - �� statemer�ts at tertNnatton of any flnanGng statemeM on fi►e eWdendng tender's security interest In the Rents and the Persoaal Proyerty. Atry �--- #�" —
<br /> . .., . > � Bcomreyance fea nquired by law shall be peid by Tnistor,fi pertNtted by applicabte law. . � "°��"`
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<br /> _ OEFAIAT. Eact�of the foRow(ng,at ths opUon of LenQer.shaU cor�stitute an event o}detauR(�verd of DeffiuIC�un der t h t s Dee d o f T r u s k ,�`�i� ..'��;;`,._
<br /> � Dstaufi on tnAebt�Qness.FaIIure ot Tnutor to make arry OaYment when due an the Indsbtedness.
<br /> OefBUit on 07her Paymenta Faflure oi Tn�sTar wlthin the tlme requhed bY Ws Oeed o1 Trust to meke eny payment ta taxes a tnsurance,or , ���"
<br /> � � • any other paymen t necessary t o p r e v e n t fi Qng o t or t o eHect Q'i s c h a r 6e of a n y r Uen. . `�'�•-
<br /> � Detautt tn Favot of T6trd Partte9. Shoutd Bcrtower or eny Twta�defaWt under any loan,exlension of crerfti.secur(ty agreemenL purchass or . . :;�.�, -
<br /> seTes agceemeM,or atry olher agceement,in favar of asry omer aed(tor or person that may matedally attect ar►Y of BoRawei's properly or � ;�_-�.;o=,
<br /> , Batcowefs a any Trustafs ab(fdyr to repay tAe Loans or partorm thetr respecrive obflgations under thts Oeed of Trusl or e�ry at the Related •
<br /> . Dacumen�. �
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<br /> • � Compllanse DBfaWl. Faiture of Trustor to compty with eny other term,obligatlon.covenant or condiUon corttained in this DeeQ of Trust,the ;����f�_-..
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<br /> � Note or in arry of the Retated Documents. ' � -'�'�'T'
<br /> � Fetse Statement9. Any warranSy,representation or stetement made or fum(shed to LenQer by o►on behatt of Tnutor under lhls OeeC ot Trust, �• �'��__
<br /> �� the Note or the Relate0 Oocumenls fs ta►se cr mistaading tn any material resped,efther now or at the Ume made or tumtsfted. � -" �-
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<br /> Dafacttve CollaterafizaUon. This Oeed ot Trusi or any ot ine Retated Dacuments ceases to be in tu0 torce and eHect pnclu�n9 taiN►e of eny .,;�.��_
<br /> � collateral documents to create a valid and parfected security i�erest or Uan)ef arry tlme an d f a r arry reason. •
<br /> Oeath or tnsolver�ey. 7he death of 7n�stor or the dissotu�on or tertNnation ot Tnistots e�dstence as e going business,the tn5otvency of .�',."'�
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<br /> � � Trustor,the appointment of a recetver(or any part ot Trustofs praperly.any ass�gnment for the benefit of credtars,any lyrpe of�xed[tor workaut, � .,��:.,:
<br /> • or t�e commencement of any proc�eding under any bankruptcy or insoNency laws by or sgalnst Tnutor. • , -,,,��
<br /> ,' .; Foreelosure,FoRelture,eta Commencemeni ot toreCtosure or forfeiture praceedings,whether by judiclat p Ha wdvar,th�S�bs�ecU�on s�ha�ll at ' �.��
<br /> �! � or e�ry other method,by any creditor of Tastor or by any govemmenffiI agency against eny of ttre PraDerty. � >� •�=•�,--
<br /> `". .�� � apply in the event o}a good faith drspute tiy Trustor as to the vaUdity or reasonebieness ot the daim whlcb is the 6as(s of ihe toredasure or . � •
<br /> � forefetture prooeeding,pravlQed that Tnutor ghres lender wdtten notice ot sueh Gatm and furnishes re5srve5 or a sutety bond tor the qaim .. .`�R
<br /> , � ; , �'•
<br /> ' � satLHactory to LenQet. . .
<br /> � � Brearfi of Other Agreemsn� Any breach by Trustw under the terms ol any other agreement between Trustor and Lender ttiat ts not remeded
<br /> � vQthin any grace perlod provided thereln,inciuOing wHhout GmitaGon any agreement conceming any�ndebtedness or othor o6�ga8on of Tntstor �� , , .
<br /> ' to lsnder,whether e�dsUng now or iater. . ',� •
<br /> • Events AfleeUng Quarantor. My Of the preCCding events occurs wifh respecl to 8ny Guarantar ot any of the IndebteQness or ar►yl�u9r8r�0► • . •
<br /> dles or becom�(ncampetenf,or revokes or disput�ths valldity ol,or Oebility under.arry Quaranty ot the t�Qebtedness. Lender.at its op�on, ••
<br /> � . . may,bul shsll rtot be requUed to,pertnH the Onarantor's esffi�to assume uneondiUOnelty tha obligations arising under ihe guaranty in e :. .
<br /> manner satistactory to Lender.and,in dotng so,cure the Evem ot DefaWt. � •
<br /> • qpyersg ChenQe. A matedal adverse chenge occurs in Trustafs flnanCta!cond'Non, or Lander belleves Ihe prospect of paymenf pr ..
<br /> . • � peAortnanoe ot the Indebtednass Is impahed• • • ',
<br /> tnaeeurity. Lender in good faith deams ItseN Insecure. ' �
<br /> RI�1 to Cwe. H such a failure ts curabie and if Trustor has not deen given e nottce ol a breach ot the same provLsion ol this Deed of Trust
<br /> �• vAthin the preceding twehre(12)months,�t may be cured(and no Event of Default wi0 have accurred)(1 Trustor.after LenQer sends wdtten �
<br /> nodce demending cure o}such tailure•• (e)cure9 the(a(ture within fifteen(15)days;or (b)if the cure requUes more than flReen(1b)Qeys, .
<br /> ' � immedlatety IniGates steps suffident to cure the tailure end lhereaHer conUnues end Comptetes atl re8son8bte 8nd nExessary sfeps su(flCient to •
<br /> • produce Compuance as soon as reasonaDty pracUcal.
<br /> �; RIGFfiS AND REtdEDIES ON DEFAULT. Upan tne occurcenCe ot eny Evenl of De}ault and at eny llme thereaRer,Ttustee or Lendet,81 i�optlon, •
<br /> - . may exercl5e eny on9 or more ol ihe toltowing ngt�19 artd remedies,in addiUan to sny other rlghts or remedies provlded Ey law: ,
<br /> � Aaeteratlon upon Oetautf;AddlGonal Remedtea. If any event ot defaNt occurs as per the terms ot the Note secured heraby.Lender may �
<br /> declare all Indebtedness secured by lhis Deed of Trust to be due and peyable and the 58me shaii thereupon become due and payebie withoul .
<br /> , • _ any presentment,demand,protest or notice o1 any klnd. Thereefter,Lender may: . �
<br /> � (a) Elther in person or by agenl,w1tA or withoul bringing any actlon or praceeding,or by e receiver app0lnted by e court and wiihout
<br /> ' regard to the adequacy of Its seeunty,ente►upon and take passesslon of the Property,o�eny paA thereol,In ib own name or in the neme
<br /> �'�� of Trustee,end do any acts whtch il deems necessary or desirabie to preserve the v81ue,marketability or rentabiliry of the Property,or part i
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<br /> o}the Property or lnterest in the Properfy;Increase the�ncome hom the Piroperty or protect tha security o1 the Property;anC,with or without .
<br /> . taking possesslon ot fhe Propertyr,sue for or otherwlse coltecl the rents,issues end profits ot the Property,Inctuding fhose past due end i • �
<br /> � unpa�d,and apply the same,iess costs and expenses o1 operafion and colleCtion,Inctuding attorneys'fees,to any indebtedness seeured .
<br /> -• � • j by ihis Oeed of Trust,ail in such Order as Lender may determme. The enterirtg upon and taking po55ess1on ot the Property,tha CailBCUon
<br /> l of such rents,issues and prot�ts,and Ihe eppiiCeUon thereot SAaO not Cute Or weive eny Q818ui1 or nOtiCA of def8ult under ihi5 Q88d of Trust ,
<br /> .• � or invaildate eny act done m respanse to sucfi default or pursuent b suCh noQce o}default:end.notwiihstanding the conUnuBnCe tn
<br /> �•,• • possesslon ot the Property or the cottecuon,recelpt and app!leaUon of rents, Issues or profits,Trustee or Lender snall be enUUed to
<br /> • exercise every dght provlded for in the Note or the Related Oxuments or by 18w upon the occunence of any event of default,�nctuding the . •
<br /> ' dgM to exercise the power o1 sale;
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