|
22 SECURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered and be effective as a flnancing
<br /> . statemerrt and a flxture filing pursuarrt to the provisions of the Uniform Commerdal Code (as adopted in the state where the real property is located)
<br /> covering flxtures,-chariels,and ertides of personal property rww owned or hereafter attached to or to be used in connec8on wfth the.Property together wfth
<br /> any and all replaoements theraof and additbns thereto(the"Ch9ttqla"�,arad GraMor hereby grants Lender a securiiy IMerest in such.Chattels. The debtor is
<br /> the Grantor described above. This Deed of Trust will be effect�e as a flnandng statement flled as a flxture flling with respect to all flxtures induded within
<br /> said premises and Is to be flled for record in the real estate reoords of each courrty where any part of sald premises(induc8ng sald flxtures is sftuated. This
<br /> Deed of Truat shall siso be effective aa a flnandng statement oovering any otherpremises and may be flled in any otherapp�opriate�Iing or recording
<br /> office. A carbon,photographic or other reproduction of this Daed of Trust or of any flnandng statement relating to tMs Deed of Trust shall be sufficierri as a
<br /> finandng atatement for any of the purposes referred to in thia Paragraph. The secured pany is the lsnder described above. Upon demand,C3rantor shall
<br /> meke, exearte and deliver such securiry agreements (as such term is deNned in safd Unifortn Corm�ercial Code) as Lender at any time may deem
<br /> necessary or proper or rec�ired to grant to Lender a perfected secu►ity irrterest in the Chattels,and upon Grarrtor's failure to do so,Lender is authorized to
<br /> sign any such agreemern as the ageM of Gramor. Grantor hereby authorizes Lender to flle flnendng statements(as such term is deflned In said Uniform
<br /> Corrmerdai Code)with respect to the Chattels,at any time,without the signature of Grarrtor. Qrar►tor wili,however,at any time upon request of Lender,
<br /> sign such flnandng statemerria. Grarnor will pey all flling fees for the flllng of auch finandng statemerrts and for the reflling thereof at the tlmes required,in
<br /> the opinbn of Lender;by said Uniform Commerdal Code. If the Ilen of this Deed of Trust be subject to any aecurfty agreernent cover�ng the Chattels,then
<br /> in the evem of any defauft under thla Deed of Trust,all the rigM,tlUe and IMereat of GraMor in and to any and all of the Chattels is hereby asslgned to
<br /> Lender,together wfth the beneflt of any depoaita or paymerrts now or hareaAer m�e thereof by Gramor or the predeceaaors or aucoeaaoro in title of�
<br /> Grantor in the Property.
<br /> �
<br /> 23. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender,at Lender's.optlon,may expend funds((nduding attomeys'fees and legal
<br /> expenses)to perfoRn any act requtred to be taken by Grantor o�to exerdse any rigM or remedy of Lender under this Deed.of Trust. Upon demand,Gramor '
<br /> shall Irmiec8ately retmburse Lender for all such amourrts expended by Lender together wfth Interest thereon at the lower of the hf�est rate descxibed in any
<br /> Obligation or the highest rate ailowed law from the date of paymerrt urrtil the date of reimbursement. These sums shall be induded In the deflnRion of ~
<br /> Obligatlons herein and shall be secu the bene8cial Irnerest ed herein. If the Obligatlons arepaId after the beginning of publication of noUce of
<br /> sale,as herein provided,or In the event Leb nder shall,at fts sole on,pemit Orantor to pay any part of the Obligations after the begfnning of publlcaUon of �
<br /> ncUce of sale,as herein provided,then,Oramor shall pay on detrrend all e�cpenses incurred by ihe Trustee and Lender In connectfon wfth said publicaUon,
<br /> indu�ng reasonable attomeya'feea to the attomeya for U�e Trustee and for the l.ender,end a reasonable fee to the Tn�stee,and thia Deed of Trust shell be
<br /> securtty for all such expensea and fees.
<br /> 24. APPUCA710N OF PAYMENTS. The Trustee shall apdv the proceeds of the trustee's sale,flrst,to the costs and expenses of exerdsing the power of
<br /> sale and of the sale,Indudlng thepaymerrt of the Trustee's fees aclual�y incurred not to exceed the amourri which may be provided for In the Deed of Trust,
<br /> second,to paymem of the obligatlonn secured by the Deed of Trust,th(rd,to the payrt�errt of junior deeds of in�st,mortgages or other ilenholders,and the
<br /> belance,If any,to the person or persons legalty enUtled thereto.
<br /> 25. POWER OF ATTORNEY. Grarnor herebyappoirrts Lender as Ns attomey-In-fact to endorse QraMor's name on all Instrumerrts and other documents
<br /> pertaiNng to the Obligatlons or Deed of Trust. In adc�tlon, Lender shall be errtftled, bul notrequired, toperform any acUon or execute any document
<br /> required to be taken or executed by Grarrior under this Deed of Trust. Lender'sp�ormence of such action or execution of such documents shall nqt
<br /> rel��eve��,��Obligation or cure any defauft under this Deed of Trust. AI(�rers of attaney descrlbed In this Deed of Trust are coupled with an
<br /> 28. SUBROGA710N OF LENDER. Lender shall be subrogated to the rights of the holde� of any prevlous Ilen, security irrierest or encumbrance
<br /> d�acharged with fu►�ds advenced by Lender regardless of whether these Ilena,aecurity Irnerests or other encumbrances have been released of record.
<br /> 27. COLLECTION COSTS. To the exterrt perMtted by Iaw,(3rarnor agrees to pay Lender's reasonable fees and costs,induding,but not Iimited to,fees
<br /> and costs of ariomeys end other agenta (Induding without IlmftaUon paralegals, derks and consultants), whether or not such attomey or agent is an
<br /> employee of Lender,whfch are incurred by LencJer in collecting;any amount due or enfwdng any rlgM or remedy under this Deed of Trust,whether or not
<br /> suR is brought,induding,but not Iimited to,all feea and oosts Incur�ed on appeal,In,benkruptcy,and for post-judgmerrt collection actbns.
<br /> 28. PARTIAL RELEASE. Lender may release fls interest�in;apo rtlon of the Propert y by executing and recordin�g one orr�ore Partial Deeds of
<br /> Reconveyance wfthout affecting fts interest in the remalning portbn of the Propeny: Nothing herein shall be deemed to obligate Lender to'release any of its
<br /> oM�p'n�the Property(except as required under Para�3g or.as may be otherwise required by I�w),�nor shall Lender be obligated to reli�ase any part
<br /> perty if GraMor is in defauft under this Deed of rust.,.The IIe�and security irrterest cfeated by the.Deed of Tnist remafc�in�affec�wlth respeot to
<br /> that portion of the property,as deflned in the Deed of Truat,thatlis th?x�fl�subjectp�ahia,or erly Partial peed o�Reoorneyance„, ,, .
<br /> _ , . , i :- , . ,�. �.
<br /> 29. MODIFICATION AND WAIVER. The modiftcation or w ��efi of`ajiy of Gtarltor�$�qbligation's or L,erider;s�ri�s under;this D�ed of�Tn�st must�be
<br /> corrtained in a writing signed by Lender. Lender may pe�form . y of�orrawer's;or Gr�ritor's Obligatlons,delay or�ail tb ekerdse arry of ns rigMs or axept
<br /> payments(rom Qrarnor or anyone other than Grantor without s�ng a waiver of,those Obligations or ri s..A waiver on one oxas�on 5hell not constitute
<br /> a waiver on any other oxaslon. Grantor's Obl�gations under.t�is beed,of Trtist��sh�ll no�'tie affe�tted(f�nder emends oo ses;'exchan�as,fails 10
<br /> exerdse,impatrs or releases any of the Obllgatfons belon 8�
<br /> third or an of the Pro �"g��G�Of+�OWer or thi'd p�rtrtv or any of fts rlqMs a nst aj�y,ararrtor 8orrower o�
<br /> P�Y Y perty. Lender'a failure to i�siat upori'strtd�p�formence of any of the 061t$atlons shall notbe d�em�d a'weiver anc�Lerider shail
<br /> have the rlght at eny time thereafter to inaist upon sMct perforrtiAnael. c, � - !:�r .� �> ,, ,, .. �. , ,
<br /> .. �
<br /> 90. SUBSTITUTE TRUSTEE;TRUSTEE LIABIIJTY;COMPENSATION. In case of the death,inability refusal to act or absence of the Trustee from the
<br /> state where the real property is located or in case the holder of:the'ObligaUons�hall desice'for any reason to remove the Tn�stee orany substitute trustee as
<br /> truslee hereunder end to appoird a new trustee in his place and�atead;ihe holder of the Obligatfons is hereby granted full power to appoirrt in writing a
<br /> subatitute trustee for said Truatee,and the subslftute trustee shall,when appoimed,beocme suxessor to all rigMa of Trustee hereunder and the same shal�
<br /> become vested In him for the purposes and objects of this Deed ot Trust wtth al4 thepow er,dutles and obligations herein conferred on the Trustee. Trustee
<br /> shell nat be flade for any error of�l'ud�rr�errt or act done by T`u�tee, or be otherwfse responsibie or axourrtable under any dreumstances,whatsoever.
<br /> Trustee shall not be personally Ilable fn case of errtry by it or snyone acting,tiy virtue of,the p4wers herein granted it upon the Deed of Trust for debts
<br /> cormacted or Ilability or dart�aaes incurred in the mana�merrt qr operation,pf sald p�emises. Tnistee shall have the rlgM to rel 'on any fnatrument,
<br /> documerrt or signature authorizing or supporting any act on ta�ceR crproposed to be taken by It hereunder or.believed by It Ingoo�fafth to begenuine.
<br /> Trustee shall be eMitled to relmbursemem for e nses Incurred by R In the pertom�ence of its duties hereunder and to reasonable compensation for such
<br /> of its seMces hereunder as shall be rendered.�rarrtor will,from Ume to Ume,pay compe�sation�e Trustee hereunder and reimburse Trustee for and
<br /> save and hold ft harmless irom and apainst any and all loas,cost,Ilabiliy,��d expense whatsoever incurred by It in the pertormence of fta duties.
<br /> Ail moneys received by Trustee shall,um(I used or applied as hereinprovided,be held in trust for thepurposes for which they were received,but need not
<br /> be segregated in any manner from any other moneys(except to the extern required by Iaw)and Trustee sF��l be under no Ilability for irrterest on any
<br /> moneys reoeived by it hereunder.
<br /> 31. SUCCESSORS AND ASSIGNS. This Deed of Trust shall'be binding upon end inure to the beneflt of Grernor and Lender and thelr respective
<br /> suoceaaors,assigns,trustees,reoefvers.admiMstrators.Personal representatives.legatees,and devisees.
<br /> 32 NOTICE8. Except aa otherwise required by law,any noUce or other corm�unication to be provided under this Deed of Trust shall be in writing and sent
<br /> to the perliea at the addresses described in this Deed of Trus1 or such other address as the parties may designate in writtng from time to time. Any such
<br /> �odce so�ren and seMby flrst dass mail,postage prepafd,shal4be deemed given the earlier of three 3 da s after such notioe is sem or when received
<br /> bY ths peraon to whom auch noUce is being gNen. ( ) Y
<br /> - r
<br /> 33. 8EVERABILITY. Whenever posslbte,each prov(slon of this Deed of Trust shall be irrterpreted so as to be effective and valid under applicable state
<br /> law. If any provlalon of thla Deed of Trust vlolates the law or Is unenforceable,the rest of the Deed of Trust shall oontinue to be valid and enforceable,
<br /> 94. APPUCABLE LAW. This Deed of Trust shall be govemecl by the laws of the state whe�e the real property is located. Unless
<br /> cthervWse,Qrantor oonserrta to the juris�ction and venue of any court selected by Lender,�n fts sole discretion,located in that atate. �i�e law provides
<br /> „� ;, . . �
<br /> 35. MISCELLANEOUS. Grarrior and Lender agree that Ume is of the essence: Grarrtor waives presentment,demand for
<br /> protest ex ptasrequired by law. All references to Grazrtor 1n this.Deed of Trust shall indude allpersons si �y�rn.notice of dishonor and
<br /> their Obliga lons shell be p' irrt and aeveral. This Deed of Trust,re�res�nls the ete�rn ���9���W .If there is more than one Grantor,
<br /> the temis and conditlons hereof. , �� egrated understandfng between Grantor and Lender pertaining to
<br /> 98. NO THIRD PARTY RIGHTS. No person is or shall be a third paity benefldary of ariyprovislon of this Deed of Trust. All provisions of thts Deed of
<br /> Trust in favor of Lender are irrtended solely for the beneflt of Lender,and no third party shall Ye entftled 10 assume or expecl that Lender wiq npt walve or
<br /> consent to the rtwdiflcation cf any pro�(sion of thla Deed of Truat;in Lender's aole discreqon, `
<br /> . . � '< , ' ,, . ,
<br /> 37. PRESERVATION OF UABIUTY AND PRIORITY. Without affecting the Ilabiliry of Borrower,Grantor or any� gat
<br /> person(except a person expressly released in w�ting)for the ymerrt and rtom�ance of the Obli lons,an w�ho�ut affectine th�el�ri �ons,or any other
<br /> respect to arry Property not expreasly released in wrt1(ng,and wfthout i n� in any wa 1he � d 9 ghts of Lender wnh
<br /> aoquired or flrst evirenoed by recorc8ng subsequem to the reco�ng of th�is DeAed of T'rust;Ytender rr�iay,�efftthet b�efo�re�or aft�er t�h�errr�teu(rrteof h�e� ��aon
<br /> and without noUce or consem:release anY P��Ilable for ymeM or pertom�ance of aIP or an� �Y Obligations,
<br /> tem�s of pe or rfomiance of all or any part of the Y P�of the Obligatfons;make anY agreemem altering the
<br /> u���o f��, gattdns:exerdse oP re(rafn trom exerdsfng or walve any ri or remedy that Lender may have
<br /> acoept ad�tlonal security of any kind for any of the ObBgatl�s,or release or othervvise�with any real w nal property
<br /> aecuring the Obligationa. My person aaq��ri�9 a���g eW�noe of any Irrterest af any nature in the Property ahal�be deem�.����{ng sucF�
<br /> Irrterest or recording any evidence thereof,to have oonserrted to all or any such acUona by fiende�. �
<br /> NEDOTD Rw.297 ` ' �
<br /> � . , � �
<br />
|