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<br /> � �� 15. TA�S AND ASSESSMEHTS. f3rantor shali pay all taxes end assassments relating to me Property ame� ue �u n��rr�
<br /> j evidorrZe of payment of same. Upon Ne reqvest ot l.�ndar.Grantor ahal!deposit wsth Lentlsr eac�manth one-twelftn(t/12)of ths es8matod annual .��y:
<br /> � insur8nco premaum,taxes and assessmenta pertaining to the Property. So long t�thero i9 no dafautt,thoso amounts shail ba spplied to ths payment
<br /> � j of taxe�,as:essmonts and insurenc:�as roquired on the Property. in the e"endt n1 y�t�^�er�'a opt onh co app i d��reverso'ortler'Of tho duo da o '�
<br /> I
<br /> funCs so hald to pay any taxes or agatnst the Obfigations. Any tunde app .
<br /> ' tnereot. � � � '
<br /> 1B. 1l1SPECTION OF PROPEATY, BOOKS,RECORDS AND REPORT9. tirnntor shatl allaw LsnCOr or rta egontts to examine and inapect 11se J , . __
<br /> Propsrty and examine,inspect antl make copiea o!Grantor's booke end records psrtaininy to tho PropaRy}rom timo to time. (3rantor ehall provfdo f ��,,�_
<br /> . psnuenei 1rus. accurate as�d co�mplete�ea�l respectsfl flranto ehal9note tAe aaiatenea of�lande�s�benefidal inte ost nk its books and eaco ds �'. � -
<br /> pe�taintng to the Properry. AddiUunal�Y.Grantor shall ropert.In e form eaUsfactory to L.ender,sueh intormation as lsnder may requost regarding �� �
<br /> � Qrantor's financial condition or the Property. The iMortnaUon ahali ba tor such psnods.shall reflect Cirantor'o rer,ords at such timo, and shali be .� 4' �''��
<br /> render�d viith such frequency as Lender may deslgnate. All infortnation fumisned by Grentar to Lender shaii be true.accurate and completa in all
<br /> � respocts.and signed by Grantor it l.ender requesb.
<br /> 17 E9TpppFJ.CEpTIFICpTE$. Within ten(10�days efter eny request by Lender,Grantor shall deliver to Lendar,or any intended s sferee o , �.__
<br /> Lensler's rights with respea to the Obligations.a signed and adcnowlsdged stffiament specNying(a)tho eu��d��9 ba���on the Obli ations:and
<br /> (p)whetrier(�rantor possesse$any olaima defenses,setoNs or cnuntealalms with respect to the Obligatiu!fs and,ff so,the nature of such Na(ms. � �
<br /> detenses,set�or cour�tercfalms. G���'+���be�nciusively bound by any representatlon ihat Lender may make to the intended trensferoe with �
<br /> respectto these maYt�rs in the event thai Grantor fails to provide the requeated st�sment in a timely manner. . > ,
<br /> 18. EYETIT OF DEFAULT. Rn&ent af 08fautt sh311 occur under th(s Deed of Trust and ths Trustee's pov�er shall become oparative in the event that , ; ` s
<br /> Csrantor�Bortower or any guarantor af any Obligatlon: • .. —
<br /> (a) commitsiraud or m a k es a m a t eri a l mi s r e p r e s e M a b o n a t a n y ti m e i n c onneetion w(th the Obiigffiians or this Oeed of Trust,inciuding,but not
<br /> Iimitad ta,talse statemeMS made by Grantor about GrartoPs inwme,assets,or any other aspecls ot(irantor's financlal con d i f 3on; � , '
<br /> (b) fails to meat the repaymeM terms of tho ODIigaUons;or or Lendat'e dghte in th� -
<br /> (e) vlolatas or fails to comply with a covanant coRtained in this Oeed of 7rust wRlch adverseiy affects the Proparry .
<br /> Property,inGuding,but not limited to,transferring tiUe to or seliing the Property without Lender's consertt,fafling to maiMain insurance or to pay , ���`, °�
<br /> taxes on the Properry,allowing a lien senior to Lender's to resuk on the Property without Lender's wri'tten consenL aliowing the taking of ttie ! . _. �
<br /> :sc�%--'"�`�
<br /> Property through eminent domain,aliowing the Properry to be tareGosed by a henholder other than Lender,committing waste of the Property, , _ �• _
<br /> using the Rvpesh+in a ma�ner which woutd be desWcWe to the Praperty,or using the Property in an itlega!manner vrhich may subject the _ ,•,�.. _
<br /> Property w seizuro,confiscation,or condemnation. .
<br /> 19. AlGHTS OF LENDER ON EVENT OF OEFAULT. Upon the occurrence of an Event of Defeuft under thia Deed of Trust,Lender shall be erttitled to . #_;:
<br /> exercise one or more of the following remedies without notice or dsmand(except as required Gy law): ,4 � � .,�
<br /> ` (a) to dedare the Obligations immediate ty due an d pa y 8 b l e in full,such acceleration shali be automatic and immediata'rf the&ent of Default is . , _
<br /> afiiingundertheBankrupt�yCosle: ' . � ��' '�°
<br /> �f) ta colleet the outstanding Obiigatlona with or without resorting to judicial pracess: , _ -'-�"�
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<br /> (c) to require Grarrtor ta dativer and make availebte to Lander any personal proporty or Chatteis constituting the PropeRy at a piace reasonabty , ���__
<br /> eomrenleM to(irentor and Lender. . •
<br /> (d) to enter upon and take possesaton of the Property without apptying tor or obtaining the appoimmern of a receiver and,at lender's aption,to ,. .�•�,,-��
<br /> appaiM a receiver without band,without first bringing sutt on the Obiigations and without oihervnse mesting any s4at�tcry condtUorsa regarding � � �:`
<br /> recervers,it being intended thst Lender sfiall have this contractual right 1u aPPoint a rec9iver. ,�_,,;.-3�;
<br /> (e) w empioy a managing egent of the Propeny end tet the same,efthar in Trustee's own name.(n the name of Lender or in the name of .,,1 �:�, �°
<br /> (irantor,and re�erve the rertta,tncomea,iasues and profita of the PropoRy and apply the same,after payment of al necessary charSes and ;�6,.,� t,_,
<br /> expensea,on aasouM of the Obligations; o rotect the security of thia Deed of 7rost or to cure a-.y detautt other � i'`�4' • '� � �
<br /> (f j t o p ay a r ry s u m s i n a n y f o r m o r m a n n e r d e e m e d e x p e d i e n t b y L e n d e r t p �, : ; �
<br /> than payment of�aterest or prindpa!on tfie ObligaUons: ';.y A : i �.
<br /> (g) to forectosa:-:s Deed of Trust judiciaity or nonjudicially and to direct the sale of the Property through exerctse of the pawar of sale au :} ` � :
<br /> reforeneed in pa-r��ph 20 herein,in accordance with appllcable taw; , .
<br /> (h)t p s e t o t f G.-a.r.s r's O b l i g a t i o n s a g a i n s t a n y amauMs owed Cirantor by LenGas induding,but not fimitod to.man'qs.InstrumeMS,and deposit �t�'. k�: .
<br /> accounts maintainad with Lender or any currently exisUng or tuture affiliate of lsn der,an d �;; 4 ��I. �
<br /> '' • , � f.•;
<br /> (�to exercisa all othar�ights avai'able to Lender under any oUier written agreement or applicable Iaw. � � i-�
<br /> LendePs dghts are cumutaUva and may be exercised together,separately,and in any arder. In the evant that Lender institutes an scUon seeking the ,%i+;�'-��,;r� "����''�_`;�
<br /> s..
<br /> recovery o f any a f t he P r ope r t y by w a y o i a p r e j u d g m e T►t c e m e d y i n a n a e d o n a g a i n s t G r a n w r,C i r a n t o r w a i v e s t h ep o s tln g of en y bond which might ;, �F';:�', t, �
<br /> othervvise be required. Lender or Lender's designea may purcfiase t�e Property et any ea�e. Ptoceeds of enY Trustee's eate heteunder s ha l i be . :�:•iE _
<br /> � applied flrst,to the costs and expenses of ezercising the power of sale and of tha safe,including the paymertt of the Trustee'8 tees aatually incunerl �;
<br /> rnd not to exceed th3 amount vfilch may be pravtded tor in this Deed ot Trust,secoad,to payment of the ObligaUons secured hereby,third,to the _ _ '";:�':`• �
<br /> payment of junior uust deeda,mortgages,or Wher lienholders,and the balance.if any,to the person or persons legally entltted thereto. The Properly �t �
<br /> or arry part thereof may be soid in one pareel,or in Euch parcets,manner or order as Lender in ita sole discretion may elect,and one or mare _
<br /> - ranted shali not excin ulsh or exhaust the power uniess the entire Property ia sotd or ffie ObDgatlons are pald in tull. ;•�� _�_
<br /> • exerci�as of the powar herein g 9
<br /> 2p, TpUSTEE'S F�RCISE OF POWER OF 3ALE ON OEFAULT. Upon defauii by Borrower In payment of any ObligaUons secured hereby,Lender •�., -
<br /> i � may daclare ell aums secured hereby Immediatety due and payaDle and shall cause to be flied of record a wririen noUce of detault and electlon to selt , �'��'��_
<br /> the Property. After t'�s's�se of such time as then may be roquirod by law foliowing recordation of such notice of datault,and notice of saie having .���
<br /> ,r;� baen givan as than ra�:�•ad by law,Trustea,wtthaut damand on Grantor,shall sell such propeRy,eflher as a whole or in saparate parce�s,and tn suc'n :. ._ �� --
<br /> order as ft or Lender may datertnine,at�ubtio auation to the highest bidder. Trustee may postpone the sate of all or any portion of the Property by .
<br /> •i publ'.c announcement at the time a�d r�tace of sale,and from Ume to time thereafter may postpone the sale by publia ennouncement at ths Ume and , ,,�_ r-�_'.�
<br /> � � ptaca�caa by the proeading poslFan�men� Trustee sha�t deliver to such purehaser its deed conveying the property,or portion theroof,so sold,but _
<br /> .,� wKhou+:any coveoarrt or warranty,e�ress or Impiiod. The recitals in such deed of any mariera of face or othenalsa shall be conduslve proof ot the ' , .Y��
<br /> � Uuthfulness theroof.My person,inctuding Grantor,Trustes or Lend�:,may purchase at ouch eate. -,
<br /> 21. REGUEST FOIi NOTICE9. Gtantor requests that a wpy of a�y noUce ot detault and a copy of any notice of sate herounder by mailad to each � .��;=,���
<br /> ��...�
<br /> :y person who ia a party hereto at the addrea�of aueh parson set torth herein at the sarr►e time and in the sama mannar required as though a aeparata �.. . . �::�
<br /> � request themof had been filed by eseh such person. ��
<br /> ' 22. 8ECURITY INTERE9T UNDER TNE UHIFOAM COMMERGI�.CODE This Deed of Truat ahall be considered a flnancing statement artd a r
<br /> flxture fllinp purauant to the provisions of the Unifortn CommerGai Cade(as adapted In the atate where the roal property Is locaud)covednp tixa:res = � �� �_
<br /> ♦ c ha tta l s,a n d a N c l e 3 o f p e r s o n a l p r o p e rt y n o w o w n e d o r h e r e a f i e r a t t a e h e d to or to be used In wnneatlon with the Prope r t y together w(th any and a11 �. ,;.. , : �.
<br /> � ropiaoemerns ther�t and nddiUons thereto(the'Chattetsh,and Citantor hereby pranta Lender a security Interest in such C hattela The de btor is L'fa , : . �.�y,a
<br /> Qranmr described�:ave. The seoured party is the Lender describad above. Upon demand,Carantor sha11 make,execute and deiiver sueh sec��"y �� •• ,
<br /> agreements(as auefl term is defi�ed in sald Uniform CommerGal Code)as Lender at any time may deem neoessary or proper or require to grara: .
<br /> Lender a perfected socurity intarest In the Chattel8,an�upon Grantor's failure to do so.Lender is suthorized to sign any such agreement as the aga-? :• �' . ,
<br /> o?(irantor. 6rantor hereby suthorizes LenQer to file flnancing ststements(as such term is deflned in said UnHorm Commerclal Cade�wrih respect to �� �
<br /> the Chattets,at any Ume,witfiout th3 signature of Grsntor. (irantor wlll,howevar,at any time upon request of I�endar,sign such flnancing statemer�ta. , , . :
<br /> Grantnr wlll pay a11611ng feea 1or the filing of sucA flnaneing statements and for the reflting thereof at the Umes required,in tho opinlon of Lender,by ,
<br /> ' sald Unitorm Commereial Cade. H the lien of this Oaed ot Trust be subJect to any security agreement coverin�the Chattets,then in the event of any . . . —
<br /> ' We�u�e benetitiof any deposita or�paymenta naw or�her afte madeMthereof bytOrantor or the p edecessora or succes ors8lnetlUe of(iraMOr9n thee . .� � : �
<br /> . Propertyr. ' _
<br /> 23.REIMBUR9HMEHT OF AMOUNTS D�EHDED BY LEHDEH. Lender,at Lender's optlon,may e�cpend funds pneluding attomeys'te�a and tega!
<br /> � oxpensea)to pertorm eny act roqulrod to bo taken by f3rarnor or to exorclso any right or remedy ot Lender under thle Deed o}Trust Upon demand,
<br /> prantor shail immediateiy reimbursa Lender for all such emounts expended by I�nder together with interost theroon at tha lower of the highest rate .
<br /> descdbed in any Ob8gatlon or the highest rat�altow�d by law irom ths dat�of payment untll the date ot reimbursement These suma chall be . _
<br /> included in the deflnlUon o10Dtlgatlons heroin and shall be secured by the beneflcial interest granted hereln. M the 04IigaUons are pald after the .
<br /> " boginning of publlcaUon of notice of eale,as hareln provided.ar In the svent Lender shatl.at its sote option,permit Grantor to pay any part of the . __
<br /> � Obiigations aiter the beginnlng of publicaUon of noUee of sate,es heroin provided.thsn,Grantor ahall pay on demand ail axpenses Incurred by the . �i;_:�
<br /> Trustee and Lender In conneetlon wfth sald publlcaUon.inctuding reasonabte attorneys'lees to the attomeys tor the Trustee end tor ths Lender,and a
<br /> reasonable teo to the Trustee,and th(s Deed o}Trust shall be security tor all such expenses and toes. � �
<br /> 24./1PPUCATIOH OF PAYMEt1i�J. N!payments made by or on behaif ot arantor reiay be epplied agalnst tho amounts pald by Lender pnctuding f
<br /> attomeys'teos and legal expenso9)in connection wkh the exerclse of its dghta or remedios doscdbed(n thia Oeed of Trust and then to the payment (. �'
<br /> 'r of the remalning ObligaUons in whatever order Lender chooses. I ' `
<br /> � 28. POWEN OF ATTOAFIEV. Orantor hereby nppointa Londer as ita attornoyin-taet to endorse Grantor'a name on ali instruments and other i • —
<br /> dacumeMS pnrtaining to tha ObligaUons or indebtedness. In nddiUon,Lender shail bo eMtUod,but nof roquired,to peAorm any action or execute any �
<br /> documeM required to be tsken or executed by�tar�tor under this Deed of Trust. Lender'e performance of such action or execuUon ot such
<br /> � � �acuments shall not reUeve Granior from any ObiigaUon or cure any delautt under this Oeed of Trus4. The povrors of anorney desorlbed in this Deed ^
<br /> , of Trust ete coupled with an IMerest and atv ircevocabfe. �
<br /> � 2& SUBROGATION OF LEt70ER. Londer shal bo subrogated to tho dghts of the holdor of any previoua lien,securiry intorest or encumbrance ! _., ..
<br /> �; discharpad with furds edvanced by Lender rogatdless of whother these Iferts.socurity interests or other encumbranees have been released of record.
<br /> ! 77'. COLLECTIOl�COSTS. To tho oxtent parmittad by luw,Grantor agrees to pay Londor's reasonabte fees and costa.including,but not Iimited to. , .
<br /> � tees�tnd cosb of attomeys and other agen4s pncluding without limiiadon paraiegals clorks and consultent�).whether or not such attomey or e�ent Is �_
<br /> ;' an empioyoe oi Len�iet.v+hith aa inwrtad by S.ers�at!r.ta!!°clirt8 art"slsl0unt d��e or entorCinr�any rigM or remedy under this Oeed of Trust.
<br /> ; v�hether or not suit is brougM.�.�:luding,but not limited to.ali fees and costs ineuned on appeal,in bankruptcy,and for post-judgmant collecdon ' � �
<br /> aCtiona. . �,�
<br /> � ,..�- - P.1� ; '
<br /> , �PNE518C C FormAtion Tee�no'ogies.ina�B/8/931 (8001 837-3789 Pnge 3 0 ' _
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