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<br /> .j 9�� �Oi'7�s � � ��..
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<br /> agree�rteM secu�ing or evid�a�cing 4he i�deb4��nass,and suc6 faiture sh�ll contin�s for a psriod of • � . • . .�:�'
<br /> ' ten 1101 days after 4vritten cnotiee frum Benefiaary 4o Trustar, � ; �. �R~°
<br /> F
<br /> . . ::
<br /> {d) any representation or v�a�anty mada by Trustor(nr any guarantor of tha Note) � � �� �,� � _
<br /> � � on any financial sta4ements ar reRo�ts or in any other deed of t�ust or sscurity agreement, [ . , , _
<br /> �; instnunent or agresmant securinp Qr evidanc�ng tha lndebtednsss, heretofare or hereafter R . • ,
<br /> �! suhmitted to Ben�ficiary by or on behalf of Trustor (or a�ey guar$ntor of the htote)shali pra�e -
<br /> falsa or materiaily mislaadi�r g and such representaYion or�varranty shall not 6a co�ected or c�red i � , '. �-
<br /> � within ten(10)days after noGce from�eneficiary to Trustor, f�- • � - -- - - -- -
<br /> j .•
<br /> !e) Trustor shall fa1 to perform or o6servs any of the covenants, conditiuns or � .-
<br /> . .'� agresments contained i�,or binding upan T►usto�under,ar any event of daf�uh sha(!occur undar -" . �_ ___ _�_
<br />� • (and as defined in) any note, construction loan agreement,security agreemant, enuironm�ntai ' .'.'`�
<br /> indemnity agreement,loan agreemeM,financing slatement,or eny other ag�e�ment,instrumeM or • � . �.'
<br /> �-���.:::__
<br /> document exesuted by Trustor in connection with the lnan�videnced by the Note,and such faiture .: � � ' �
<br /> shall comirtue after the exRiretion of any notice and)or grace period therein proyided; ::Y�-;�'`'��':
<br /> �:� �.,
<br />, '�',:=�._�,� :`
<br /> (f► a trustee,�eCeiueT 0�IiqUldeto� of the TNSi P�ops�iy O! Of T►lJSIOf ShSD 6B a a..%:-�
<br /> �_ '��`
<br /> - appointed,nr any uf the crsd'�t�is of Trustor sha(1 fife a petition in 6anlmiptsy against T�ustor,or :�z�,._
<br /> far the�eorganuation of Trustor ursusnt to the United S4ates Bankruptcy Code,or a:�y s�m►'lar �. '�r�`=
<br /> - p � :.y;:,_� . _T.: .,,:��-�;
<br /> law,whether federal or state,and if such order or pet�ion sha11 not he d�s�harged or dismissed ... s
<br /> within ten(10)days after the date on which such order or petitian was filed. -�.���
<br /> ���"�=`i�._
<br /> , (� TNStor shall file a pe4ition puasuant to 4he United States Ban{auptey Cude or � �� �"`�- ,�� �.
<br /> eny sunifar law,f��eral or state,or if Trustor shall be adjudged 6ankrupt,or 6e deciared insotYent, --�=°�' _'`
<br /> .a:,:: �
<br /> � ar sha0 maka sn assignment for the bensfit o�c�editors, or sha11 admit in writing its inab�ity to �� �.
<br /> � pay its debts as thay became dae,or sl�all consent to the appointmen4 of a receNer of all or any ':''%:
<br /> �,;�::�, :i
<br /> � part of the Trust P�ope�+/; '���- - �``s
<br /> .�:; �
<br /> • .,. ',.
<br /> �- 1h) final judgment for the pay�a�t of money shall be ren�:red against Trustor and - ��`' ''' �-
<br /> ��_�: ..� c , �.,
<br /> � Trustor shatf not discharge the same,or cause it to bs discharged,within ten(10)days after the _
<br /> � . entry thereof,or sha(I not appeal therefrom or from the order. decree or pracess upon which or __ �Q �I ,'__�.
<br /> pursuant to which said jadgment was grantpd,6ase d,or entere d,an d secure a s tay o f execu Uo n r,�.,.�° � ��
<br /> pending such appeal; ,_..°, �"_.:_,`�_.�-.
<br /> � -::..�.:.------
<br /> E.�:—
<br /> (� any of the events detineated'm subparagraphs(fl through(h), inclusive, shall ����^—°�-
<br /> �t'' :'�� -; r
<br /> oecur with respect to any guarantor of the Note; � . � " _
<br /> ..� ;a�
<br /> , p dafault in the payment of or performance of any other obligation of the Trustor �:�;.�„_.,,�;�:.
<br /> to Benefidary,or any insirument now or hereafter giyen ta secure any such oblisation of Trustor ``�`
<br /> ,�.,-.�°�"-..�: ,�..:Y,.��.
<br /> to Beneficiary, and such faiture shall eontinue after thz ezpiration of any notice and(or grace —"�`�`-`.
<br /> ..�.,_,��.
<br /> period therein proyided. � ; ��`�°
<br /> �.,� , . ,.
<br /> � (k) A sats,transfer,cnnveyanc�,Isase,cantrect for deed or other disposition of all ^"�^`"'"k•'�"�
<br /> or any part of the Trust Froparty or any interest therein ar of the stock of Trustor, if a .^;;���'�''"''�.''��' �
<br /> � � .. ,.
<br /> . corporetion,or of eny general partnershi�c^tereat of Trustor,if e partnership,including withaut �'�-• .•.--- _�
<br /> �� I'unitatian an assigrxaent for the 6enefit cf�editors,appointment of a recener,edjudication as a ;�;;;,w,:.r,..,.,:,: � —
<br /> . bankrupt, or the �1ing oT instituting of 6ankrupt�y proeeedings by or against Truator, or any _ A:,, ' _
<br /> . geaeral partner of Trustor, if a partnerstup, withaut prior vuritten notice to Bene�iciary end � . �.:.��:
<br /> � without Beneficiary's prior wri4ten sonserat,which consent shall 6e et Beneficiary'a sole option . �'
<br /> and shall be u���such terms end conditic»as Beneficiary ahafl,at its s^Te opt9on,elect;or , fe;°_
<br /> . �.
<br />. . (q Any"Event of Oefault'(as that term is defined in the Hote)shall occur. � .
<br /> ■�:
<br />� 1. AceelB�ation of Deb4; ioreclosure. Time and the exact performanca of •• �
<br /> Trustnr's obtigations are materia! end are of ths esssnce hereof. Upon the uccurrence of any Event of �. . �
<br /> Def�uit, or ot any tima thereaftel, Benefieiary may, at its option,declere all the IndebteMess secured
<br /> _-.-_
<br /> hereby immediately dae and payable and the same shap thereupon 6ear intersst at the Default Interest .
<br /> � Rate(as that term is defined in the Notel Cf Bene�'�eiary Aoos not exercise its option contained hecein to ;" � � - -
<br /> declare the Indebtedness immediately due and paya6le or is precluded by law from exercising said option, �_ .�� '� � ,
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