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<br /> 1 •�93. TAl(E�AND ASSE�SSklElVT3. t3fantor shall pay all taxes tind assassmerMa relating to tfie Property when due and immodiateiy provide Lender I, �: � � �
<br /> ., � � . .,
<br /> ovlde�ce of payment of same. Upon tha request of Lender.�rantor ahall depos(t wkh Lender each morith one�twaifth(i/12)of the estimated annual �
<br /> . inspranco prem�um,t+ues end essnssmertte pertelning to the Praperty. So long as tt!ora is no detaul�thosa minounta shali Ge applied ta tho paymsnt , . �' -
<br /> ' os H,ues,ass9sEments and insuranCV as required on the Proporty. ►n tha event oi deisutt.Lender shs11 have the right,at its solo option,to appiy the � � • �'�,�
<br /> " � tun6s so hetd to pay any texes or against the ObtlgaUOna. Rrfy t;mds appil8d may.at 4ender's o�UOn,be applietl in rovarse arder of the due date : � ._ : � _
<br /> I th@f@0}. e , t . ��....
<br /> ' 10. fHSPECT10Ai OF PROPEH7Y,BOOK�,RECAROS AHS BEPORT�. (3ranior shali allow lender or iis agents to examine a�d inspect tfie • ` , ,_.-=
<br /> , Property and examine.inapeot and make copiea of t3rantor's books elnd reeords partaining to the Praperty irom time to Ume. Grantor shaU provtde ��
<br /> , ' any assistenee tequfred by Lender for these purp6ses. All of the signatures and intortne6on oontained in Grantor'a books and records shail b� , • T.
<br /> � genufns.true,acarate and campiete in elt rospects. l3rantor shatt nate tl�a exlstence of LendeYS heneticial interest in its books and record� � --
<br /> � pertatning to the Properry. AddiUonaliy,Orantor shall report.In a form satistactory to lender,sueh iniormaUon as Lender may request regazding' ��. __
<br /> tirantor's finanda!condiUon or the Property. Th�intormaUCn shall be for such p�dods,shall refleG E3rantor's rocards at such Ume,and ahatl be
<br /> 7 ronderod witfi such troquency as Lender may deslgnate. A!1 infortnation tumis�ed by Otantor to Lendar shait ba we,accurate and comptete in all� . '.�•�.• �
<br /> I respects.ans signed by GraMOt if lend6r requesb. e
<br /> 17. �STOPP�L CERTIFlCATE9. ifY+thin ten�10)days after any request by Lender.Cirantor shall delivet to Lender,or any intended transteree of '-`�� .
<br /> - I Lender's rlehta wfth re�pect to tho Obligatlona,a slgnad and acknawiedged statement spedtying(a)tT►o outatandi�g balance on the ObligaUons:and� • - _ .. _
<br /> _ {b)wtplt�t Cxentot possessss sny el8lms,dafens88.set-0ffa or counterdeims riith respect to the Obligations and,if so.the nature of such daims, � _ _ . __
<br /> , detensas,sst-0ffs or counterclalma (irantor un11 be condusively bound by any representation that lender may make to the intortded Vansferee with � ,.
<br /> respect to these mattere tn tha evant tt�at Grantor isits to provide the requested statement In a tlmety manner. � � -
<br /> 1d. EIiEH7S OF OEFAULT. M Event of Detault shaA oxur under this Dead of Trust end the Trustes's pawer shaJl become operaUva in the event that � . . � �
<br /> Cirantor,Borrower or any guaraMorof ffie Obfigations: � - ` '—
<br /> (a) faits to pay any ObBgation to Lender when due; -�'��
<br /> .._Si'�!i`---�._-_--
<br /> (b) faits to padorm any Obiigation ar breachos any wartanry or covenani to Lsnder conmined in thie�eed of Tmst or any other present or future --:��r:,--�-.
<br /> , (c) deesVOys,loses or damages tha Property in any materlal respeat ot subjects tne Praparty to seizure,conflscatton,or condemnaUorr. *, `�
<br /> i
<br /> �..�,:�r__.-�.
<br /> (d) se�ka to revoke,terminate or othervvise limtt its liabliiry under any guaranty to Lender. . - ---�; . _ -
<br /> (e) dies,beeomes Iegaliy incompeten�is dissoRed or tertninated,becomes insolverrt,makes an assignment for the banefit of credftars,fails to , � •-���°.
<br /> pay debts as they become due,ftles a petition under the federei bankruptcy laws,has an invoiuntary petlHon in bankruptcyfilad in whieh Grantor. . �-:�.�;�_:
<br /> • Borrower or any guarantor is named,or has property taken under anywrlt or process o7 cour� `� �; -
<br /> . (t� altovra goada to be used,trsnsported or stared on trie Property,the posattssion,transportation,or use af whtch,is iilegal: �� �'^—
<br /> (g) allows any party othar than(irantor ot Bortowet to assumo ar undertaka any Obtigation wlihout thg wrttten consent of Lender,or ,.� ,_�
<br /> ..�.�.„
<br /> (h) causas Lender ta deam itseH insecure due to a signiflcant dedine in the value of tAe Property:or if Lender,in good faith,tor any reason, �• '�
<br /> believes tfiat the prospect af paymertt mr pertormanea is Impaired. r :���-,�.-
<br /> 19. RIGfiT'S OF LEHDER OH EifEHT OF DEFAULT. Upan the oxurcence of en Evant of Oefault under thts Doed of Trust,Lender shall ba er�titled to -��,;.�.
<br /> exerclse one or more of the tollowing remedies without notice or demand(except as required by Iav�): '�'�� -'�*�°�-�,,.�:
<br /> (a) to dectare ihe Obtigatlons tmmediately due and Qayabfe fn futi,such axetaraUon sha116e automatic and(mmediate itthe Ever�t ot Defauk is �'=�' ` `
<br /> � a fiiing under tlie Bamtaz:ptcy Code: S�-
<br /> ..±:�,T. -..
<br /> ' (b) to eoltect the o�.idlnp ObtlpaUona with or without resordn�to judicial pracesa; ..��•:' '_
<br /> (c) to require Grantar to deliver and make available to Lender any personal property or Chattels constltuting the PropeRy at a ptace reasonabiy _ ' `' �- __-
<br />• eonvenientto Cirantor and Lender, .
<br /> (d) to ernet upon anq take possesston of the Property without appiytng tor or obtaining the appolmment o!a recetver and,at Lendar's option,tn ,�,�rn+' � � •�
<br /> � � appotnt a recehrer wJthout bond,wfMout flrat bringing suit on the Obligatians and without othenHlsa mee�ng any statutary condfdona regarding "'��r,'
<br /> recetvers,it being irttanded that Lender shall have thts coMractual rlght to appoint a recehrer. '�"�
<br /> (e) to emptoy a managing ageM of the Property and tet the same,either in Trustee's own name,in tfie name of Lender or in the name of "• %'�P"
<br /> Grantor,and mceive the renb,irtwmea,iasues and profits of tha Property and apply tha sama,after paymant of all necassary charges and ,�,
<br /> expensea,on axount o!fhe Obtiga8ons; �
<br /> (� to pay any sums in any totm or manner deemed exped[ent by Lend�r to protect the securlty o!thts Qesd of Trust or w cure any defauft other �' �"
<br /> , than payment of interost or pdncipal on ths Obflga�ona: �::`::.>; �
<br /> (g) to foreclose this Deed of Trust judiclally or nonJudicially end ro direct tAe sale of the property'_^.'augh exercise of the power of sele ss ��'} � -
<br /> reterenced In paragraph 20.herein.in accordance with applicable law: `1
<br /> . �•';...�
<br /> (h)w setoff Qrantor's Obii�aUons ag�lnst any amounts owed Grantor by Lender inciuding,but not limked 40,monies,instrumenb,and deposft
<br /> � accounts mainlained a-;th Lender or any c�rrenUy exisNng or fiiture affiliate oi Lender,and � '
<br /> ()to axercise all other righta ava(lable to Londer under any other wrftten agreement or appllcable law. �
<br /> �s�
<br /> �. Lender's�(ghts are cumulaUYe end may be exarclsed together,separ�[y,and in eny order. tn the e�=trt lhat Lender insUNtes an meti�n seeking
<br /> the recovery of any of the Property by way of a preJudgment remedy in an acUon against(irantor.Grantor waives the posUng of atty bond xfiiCh ;;,�j��a;:. �
<br /> � migAt otherwlse be required. Lender or Lender's designee may purchase the Property at any sale. Procesds ot any Trustee's sale hereunder ��-��-
<br /> � shail be applied ftrat,to the costs and axpenses of exercis(ng the povrer of sate and of the sale,including the paymertt ot the Trustee's fees -
<br /> �' acwally incurred and not to exceed the amouM whict�may 6a provided for in t�is Deed of Trus�sewnd,to paymeM of the OblipaUons aecuied �. �N���-- -
<br /> '�' �•'�.-�' _�
<br /> henby,thlyd,to the payment of jurdor bust deoda r.:�rtgages,or other Iienholders,and the balance,tf any,to ths person or persons legaify . .!.•� ,,, �.
<br /> enU!(ed thsreto. The Property or any part theroof m��ts sold in one parcel,or in such parcels,ma�^er or order as Lender in its aole discreUon
<br /> ' may elsct,and ono ot moro exeroises of ffie power Aaain graMed ahatl not exdnguish or euhaust�.:r,ower un�ess the enUre PmpeAy is eotd or -_�,�:'�-;'�• �
<br /> the obliga�ona are pald in tuli. ��;�-:-��
<br /> � .; 20.TRU8TEB8 E3�RCtSE OF POWER OF 9WLE OH QEPAULT. Upan detault by Borrower in paymarrt of eny Obitpatlons securod heroby,Lender :�'�.,��,��"'.'��-•s'��-� �--
<br /> . may dectu�ali suma,s�curod horoby.immed(atety due a.�d payable and sha11 cause to�e fited of racord a wrltten notieo of detauft and otedion to ��=�::��� *�
<br />� � aell the Propetly. After ths lapse of auch tirrA aa then may be requirad by law foilow;r.�rewrdaUon of such noUcs ot dofault,and notics of oa.e `'.`'�"�' : �'_'
<br /> � having been ptvsn as then roqulred by iaw.Tniatee,wlthout demand on(irantor,shafi seli such Property,efther ae a vfiota or in separate parcels,and ' _-- _
<br /> ;'+ tn euct�ordar as tt or Lendar may detartnina,at publio auctlon to the highest bidder. Truatee may postpone the eate ot etl ot any portion of tfis t�:.i�-_.,
<br /> Piroperty by pubilo announcement at the Ume and place of eale,and trom Ume to Ume theroafter may poatpone the cais by pubiio annou:.cament a! �.��`T���' .
<br /> fhe Ume and ptacs flxed by ihe proceding postponemeM. Trustee ahatl deilver to auch purchaser ita daad conveyinp the proparty,or poTCW�thaeof, : -r' "��'`.-
<br /> so sotd,but wNhout any covenant or warranty,expreas or impUed. The recitals in such deed ot any matters of fact or otherwlse,shall ba condusive t' ' �
<br /> " proof of the truthfulnass tf�eroot. My person,including Grantor.T�ustee or LenGer,may purchase at auch eale. '�'_�t���'i�
<br /> . 21. iiE61UEST FOH HOTtCES. Grantor requeate that a copy of eny naUce of defauit end a copy of eny noUce o}sate hereunder be malled to eaoh -���.}-'+���. '.
<br /> , pereon who is a parry haroto,a!tha address of auci�peraon set toAh herein ot the same time and in the same menner required as though e separate . ,�� �—'
<br />� roquest ffiersof hsd bien filed by eacfi such person. °'`: ,,:
<br /> 22 SECi[�fil IHTERE9T UNDER Ta€�a7HIF0RM COMMERCUIL C4�� This Oaod ot Trust shail bo considered a financiny atatement and a ;f,�:.�►*'�'�"'�
<br /> flxture h:::,�pursuant to the provlsions att'�e Uniiorm Commerclal Code(as adopted in the state where the real property is iocated)oovedng fixtures, ' --
<br /> chattets,a.1 articiea of personat propeny now owned or heroatter attachad to or to be used In connectlon wfth the Property topsther with any and ali ' `
<br /> ' �eplacemarrts thsreot and addiUOns theteto(the'Cfiattets').and Qrantor hereby prants Lender a security interest in such Chatteis. The debtor Ia the • �
<br /> . Qrantor descrihed abeve. The secumd parry is the Lsnder described above. Upon dertt2nd,(irantor shali make.execute and dettver such aecudty '�� � � i.. •�
<br /> agteomsnts(as auch term is dsfln�d in eaid Unitorm Commercial Code)as Lender at any time may deem necessary or praper or requlred to grant to ���r^-.
<br /> ' Lender a peAected securfty(ntarost in the CAattets,and upan Grantor'o Mllure to do so.Lender ia authorl:ed to sign nny such egreement as the agent � =Y;�:+:-
<br /> . of Grantor. (irantor h�reby author�ea Lsnder ro fli�ftnanclnp stataments(aa such term is defined in eald Unitorm Commerclal Code)with rosp�et to
<br />' � tha Chattels.a1 an�tlme.wlthout the sipnature of Orantar. Orantor witl,howevar,at any Ume upon request of Lender,slgn sucA floancing alatemente. � •
<br /> Grantor witi pay al titing tees for the flifng of such flnancing statements end fo�the roflling thoreof at the timas required,in the opinlon of Lender,by " '
<br /> sald UnHorm CommerGal Cade. if the Iien o!thi�Oeed of Trust be subJect to any security agreemont covering the Chattets,tlfen in th9 event ot any ' .
<br /> deiaalt under this Oeed of Trust,all the dgM,tiUe and interost oi Grantor In and to any und all of the Chattets is hareby assigned to Lender,togethor
<br /> � . with the benefit o}eny deposiffi or paymertts now or hereaker made thereo!by Grantor or the predecessors or suxessora in tftte o!OraMOr Io the r -
<br /> Property. �
<br /> 23.REIMBURSE�AE�3T OF AMQllEi3'S O�@NOED BY LEHDEB. Lender,at lendor's opUon,may expend funda pnciuding attomeys'tees and 13ga1 � ' —•�
<br /> ' expensea)to peAorm any aGt requlrod to be feken Dy Otantor or to exercise any dght or remedy o!Lender under this Deed ot Trust. Upon demand. • �,-,;�_
<br /> � ; Grantor shall immediatety relmburae Lender for all auch amourrts expended by Lender together with intereet thereon at the Iower of the hlghest rate �;
<br /> � descdbed in any Obiigation or the htghest rat�aliowed by law from the date of payment unUt the date o!rotmbursem�nL These sum3 shafl be � . �
<br /> includod in tho doflnition of ObtigaUona hotoln and ohell bo socurod by tho bonoflGal intorest grantad herein. H the ObligaUons are paid afler the
<br /> beginning a!publicaUOn ot noUce ot sate,aa hsroin provided.or in the event Lender shall.at ita sole option,permit Cirantor to pay any part of ffie . .
<br /> . �� ObBgations after the beginning of publlcaUon of notioo of aefe.as hereln provlded,then.GraMOr shail pay on demand a1t expenses ineurred by the , .
<br /> '� Trustee and Lender in connection with seid publicaUon,includi�g reasonabie attorneys'fees to tha attomeys tor the Truatse and for the Lender,and a � • � .
<br /> + reasonabie tee to ths Trustee.and thls Oeed ot Trost shall be soeuHry for atl sueh expenses and teea. � . ��
<br /> � ?�. APPLICA7tOH OF PAYMENTB. Ail paymertts made by or on behalt of Granior may be applied against the nmounts pald by Lender(nduding � ' � _
<br /> � attomeys'fees and legal eapensea)in connecdon with the exerGse of its dghts or remedies deseHbed rn tAl9 Deed ot Trust and tfien to the payment ; • • __
<br /> of ihe remalNng Obligations In whatever order Lender chooses. �.
<br /> 2S. POWER OF ATTOANEY. (3rantor hereby appoirrts Lendor es its attomey-imtac! to ondorse Orantor's name on all instrumenta and other �
<br /> documents pertai�ing to the 06IIgeGons or Qead o!Trust. In addition.Londsr shal!be entitled.but not requlred.to po�farm any action or execute any �
<br /> document required to b9 takon or executed by Grantor under this Oeed of Trust. Londer'a pertormance o1 such acNon or execution of such '
<br /> documonts shall not retievo C3rentor from any pbligation or eure any delault under this Daed of Trust. Ail powera of attomey descr�bed In ihis Oeed ot � •
<br /> Trust are coupted with an interest and are irrevocabte. . _
<br /> � 1 28. SUBAOtiAT10H OF LENDER. Lender shait bo subrogated to the rights of tho holdor o!any prevwus tien.socurity�ntere�t or oncumbrunw C � •. i:=,
<br /> � dischnrged vdth tund�advancod by Londor regardloss of whother thsso hons,sncurity intorosts or othor oncumbrancos havo boon roloosod of roeord t
<br /> : � "'�...., . ..... _r � . .. �' ".. """'�,,., ..._...�9 �� �/�-- i� _ � ' ' ��
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