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19. L�NDER'S'RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grarrtor shall(mnediatelyprovide Lender wfth written notice of any actual or �"
<br /> • threatened acUon,suit,or other proceedng affecting the Propeny.,Grantor hereby appoiMs Lender as its attomey-In-fact to oormience,intervene in,and
<br /> defend sych action's,sufts,or other legal proceedings and to�omise or settle any dafm or coMroversypertaining thereto. Lender shall not be Ilable to
<br /> Grantor for any acUon,enor,mistake,omiaalon or delay pertafning to the acHona deacribed in this paragraph or any darnagea resuldng thereirom. Nothing
<br /> contained heroin wAI preverrt Lender from taldng the actions desalbed in ihis para�aph in fts own name.
<br /> 14. INDEMNIFICATION. Lender shall not assume or be responsible�for the performence of any of Grarrtor's oblipations wfth respect to the Property under
<br /> any dreumstances. Qrarrtor ahall irrrnediately provide Lender,vyith written notice of and indemnify and hold Lender and fts shareholders,directors,officers,
<br /> employees and agerns harmlesa from all daims, damages,Ilabilities(induding attomeys'fees and legal expenses), causes of acUon, actions, suits and
<br /> other legal prooeedings(cumula�vely"Claims")pertaining to the Property(tnduding,but not Iimited to,those frnolving Hazardous Materials). Grantor,upon
<br /> the request of Lender,af�all hfre legal counsel to defend Lendel from such Cla(ms,and pay the attomeys'fees,legal expenses and other costa incurred tn
<br /> conneclion therewith. In the altemative, Lender shall be entitled to employ fta own legal wunsel to defend such Clalms at Grantor'a cost. Grarrtor's
<br /> obligation to Inderrniry Lender under this peragraph shall survive the'termination,releaae or foredosure of this Deed of Trust. -
<br /> 15. TAXES AND ASSESSMENTS. Graritor shall pay all taxes and assessmerrts relat(ng to Property when due and irmiediately prov(de Lender evidence �
<br /> of paymern of same. Upon the request of Lender, Grantor shall deposft wRh Lender each morrth one-tweitih (1/t2) of the esUmated annual insurance �
<br /> premium,taxes and assessmerrts penaining to the Properry. So long as there fs no default,these amoums shall be applled to the payment of taxes,
<br /> assessmerrts and Insurance as requlred on the Property. In the everrt of defauft,Lender shall have the rigM,at its sole option,to apply the funds so held to �
<br /> pay any taxea or against the Obligations. My funds applied may,at Lender's option,be applied in reverse order of the due date thereof.
<br /> 16. INSPECTION OF PROPERTY,BOOKS,RECORDS AND REPORTS. Grantor shalt allow Lender or its agents to exart�ine and inspect the Property Q
<br /> and examine,Inspect and meke oopies of Grantor's booka end records pertaining to the Property from time to time. Grarrtor shall provide any assistance
<br /> requlred by Lender for these purposes. AII of the sfgnawres and infom�ation coMained fn Grantor's books and reoords shall be genuine,true,axurate and
<br /> complete in all respecta. Gramor shall note the exlatence of Lender'a benefldel interest ln fts books and records pertaining to the Properry. Adc�Nonally,
<br /> Grantor ahall report,fn a form saUsfactory to Lender,such infom�ation as Lender mayreq est regar�ng Grantor's 8nandel condition or the Property. The
<br /> infom�ation shall be for auch perioda,shall reflect C3rantor's records at such time,and ahalj be rendered with such irequency as Lender may designate. All O
<br /> infortnation fumished by Grantar to Lender shall be true,axurate and oomplete in all respects,and signed by Qrantor If Lender requests.
<br /> 17. ESTOPPEL CERTIFICATES. Within ten(10)days after any request by Lender,Qrarrtor shall deliver to Lender,or any frrtended transferee of Lender's
<br /> rights wfth respect to the Obligationa,a signed and adv�owledped statemerri spedfying(a)the outstanding balance on the Obligations;end(b)whether
<br /> Grantor possesses any daims,defenses,set-offs or courrterdaims with respect to the ObligaUons and,if so,the nature of such daims,defenses,set-offs or
<br /> courtterdalms. Grarrtor will be condusively bound by any representatlon that Lender may make to the Intended transferee wfth respect to these mariers In
<br /> the event that Grantor faiis to provide the requested statemerd in a Umely manner.
<br /> 18. DEFAULT. Grarrtor shall be In defauft under this Deed of Trust and the Tn�stee's power shall beoome operative in the eveM that G�antor,BoROwer or.
<br /> any guararrtor of the Obligatlons:
<br /> (a) faiis to pay any Obiigation to Lender when c�e;
<br /> (b) fa11s to perfortn any pbligatlon or breaches sny waRanty or covenarrt to Lender contalned In this Deed of Tn�st or any other present or future
<br /> ��m:
<br /> (c) deatroys,loses or demages the Property in any material respect or subjects the Property to seizure,oonflscation,or condermation;
<br /> (d) seeka to revoke,terminate or otherwise Iimit its liabiliry�nder anY guaranty to Lender;
<br /> �e� �s,be��ne$�egal�Y��competem��e dissolved or terminated,becomes insolvent,makes an assignment for the benefit of creditors,fails to pay
<br /> debts as they become c�e,flles a petttlon under the federa�l banlwptcy laws,has an irnolurrtary petition in banlwptoy flled in which Grantor,Borrower
<br /> or any guarantor Is named,or has property taken under any writ or process of court;
<br /> (� allows goods to be used,trensported or stored on the PropeAy,the possession,transportation,or use of which,is itlegal;
<br /> (g) allows any party other than Grarnor or Borrower to assume or undertake any Oblipation without the wrttten consent of Lender;or
<br /> (h) causes Lender to deem itself insecure�e to a signiflcant dedine in the value of the Property;or if Lender,in good faith,for any reason,believes
<br /> that ihe prospect of paymerrt or perfom�ance is impaired. � ;, ;
<br /> 19. RIGHTS OF LENDER ON DEFAULT. If there is a default under this Deed of Trust,Lender shall bQ errtitled to.exercise one or more of the following
<br /> rert�es wfthout notice or demand(except as required by law):' ''
<br /> (a) to dedare the Oblipations irm�ately due and payabl�.in fiill; '
<br /> (b) to collect the outstanc�ng Obligatlons with or wfthout resorting to judldal process;
<br /> (c) to require Graritor to deUver and make available to Len�lsc any,personal�property or Chattels constituting the Propeny at a place reasonably
<br /> cornenierrt to Gramor and Lender, � .� ,
<br /> (d) to enter upon and take possession of the Property wfthput applying for or obtaining the appofrrtment of a receiver ahd, at Len�r's option, to
<br /> appoirrt a receiver wfthout bond, without flrst bringing suit on the Obligatbns and without.otherwfse.meeting any statutory'condRions regarding
<br /> receivers,ft being irnended that Lender shall have this coMrBctual riglit to appoint'a receiver, ' �
<br /> (e) to employ a managing agent of the Property and let the same,either in Trustee's own name,In the name of Lender or in the name of Grantor,and
<br /> receive the rerrts,incomes,issues and proNts of the Propert�y and'apply the same;aiter payh�ern of all necessery.d�ar}�es and expenses,on acoourrt of
<br /> the Oblipations� :� ��. ,
<br /> (� lo pay any sums in any f�o o�e�n igation�e�em by L�nder:to protecl ihe�security of this Deed of Trust or to cure any defauft other than
<br /> paymeM of irrterest or prind n
<br /> (p) to foredose this Deed of Trust judidally or nonjudidally and to direct the sale of the property through exen�se of the power of sale as referenced In
<br /> paragraph 20 hereof in axcordanoe with applicable law; .�
<br /> (h) to set-off Qrantor's Obiigations against any amourrts owed Grantor by Lender indudfng, but not limited to, monies, instruments, and depcslt
<br /> (i)t�o exerdse all othe rihMa avairlable to Lender underian�pth��w a�liate of Lender;and
<br /> Y Y 9..
<br /> 9 Y ritten`agreemerrt or applicable Iaw. ' '_ ,. .
<br /> Lender's rigMs are cumulatNe and may be exerdsed together;�separately, and in any order. In the everit that Lender instftutes an action seeldng ihe
<br /> recovery of any of the Property by way of a prejudgmeM remedy in an action against Grantor, Grantor waives the stin of an bond whichr�
<br /> otherwise be requfred. Lender or Lender's designee maypurchase the Property at any sale. Proceeds of an �° 9 Y
<br /> flrat,to the costa and expenses of exerdsing the power of�le and of the sale,indudin the Y T�s��$�e hereunder shall be applTed
<br /> exaed the amount which may be pravided for in this Deed of 7rust,second,to g �y�M of the Trustbe's fees actually Incurred and not to
<br /> lruat deeda,mortgages,or other Ilenholders,and the balance,ff an ,to the �Y�M of the Obligatlons secured hereby,third,to the paytr�ent of junior
<br /> bs aold in one parcel,or in such y Person or persons legally en4(tled thereto. The property or any part thereof may
<br /> ahall not exUn iah or exhauat��S'�ner or order as Lender in Rs sole discretian may elect,and one or more exerdses of the power herein�anted
<br /> 9� power unleaa the errtire propeny is aold or the oblfgeUons are paid in fuil.
<br /> Z0. TRUSTEE'S EXERCISE OF POWER OF SALE ON DEFAULT: If Lender elects to seil Grantor's iriterest in the Property by exerdse of the power of
<br /> sale herein contalned,Lender shall notiy Truatee in the manner then requtred by IaNr.
<br /> � � �
<br /> Upon receipt of auch nollce of Lender and at the direction of Lender,Trustee shall cause to be recorded,pub�ished and delivered such notices of defauN
<br /> and notfces of sale as may then be requ�red by�aw and by this�eed of Trust Trustee shall,only at the�rection of Lender and wfthout demand on Grantor,
<br /> aner such Ume aa may then be requlred by Iaw and after reoordation of such notice of defauh and after notice of sale havin been
<br /> sell the Property at the Ume and place of sale flxed by ft in such notice of sale,eNher as whole or In separate lots or 9 9wen as required by law,
<br /> expe�er�t,and In such order aa ft may determine,at public auctfon to the highest Wdder for cash In Iaw(ul money of the�Unfted States paya�b�le aj the tlr�neeof
<br /> saie,or as otherwise may then be required by law, Trustee sFial�d�liver 10 such purchaser or purchasers thereof its good and suffident deed or deeds
<br /> corneying the property so sold, but without any covenarrt or waRanty, express or implied. The redtals in such deed of any matters or facts shall be
<br /> oondusive proof of the trutlitulness thereof. Myperson,indu�ng,wid�out Iimitation,Grarnor,Trustee or Lender,may pu�chase at S�ch sa1e. Trustee rnay
<br /> tn the menner pruvided by law postpone sale of ell or any po►ifon of the Property.
<br /> i
<br /> 21. RE�UEST FOR NOTICES: Grantor requests that a copy of any notice of defauft and a copy of any notice of sale hereunder be mailed to each
<br /> who is a party hereto at the address of such person set forth herein at the same time and In the same rnanner person
<br /> had been 81ed by each such perso�, � . , , required as though a separate request thereof
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<br /> NEDOTC Ra.287 � - � � ,
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