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<br /> • 15. TAXES AI4D ASSESSMEPITS- Grantor shall pay all tazes entlr�al dee�re�lamv�def e Ch me�h one-twelfth(�1/12)ofthe'esph'ma e�nuai 4�_
<br /> evitlence of pa/ment of same- Upon U+e request of Lender,Grartm sh p° I the ' y�
<br /> insurancs premwm,taxes and assessments pertaining to the Propelrry�Soe►oren9 of detauit,Lender shallmha e the r ght atiits so ePoption.tt eAppap ent �
<br /> o}�es_assessments and�nsurance as requ"ued on the Property. ���ma ���der's option.be app��ed in reversa orCer of the due tlate .'
<br /> tunds so held to pay any taxes or against the Obligations. My funas apP� Y• -.,"
<br /> �ef0f' 800KS,RECORDS AB1�REPaATS. Gre�o�$h����ow Lender or its agents to examine and inspect the � _
<br /> i6. IHSPECTION OF PAOPERTY, ��of Grantor's books and records pertainin9 to tt+e Property from t�me tc time. �rantor shalt provide 1 . —
<br /> Propsrcy and examine,inspect and make cop �� al of the signatures and��ormation contained in Grantcr's books and records shal�ba t r 1
<br /> any assistance required by Leader for these purp . �
<br /> � genuina,true,accurato and�d'sti nail �Grantor sh�l Po�n orm�s�tis��ry n�der,esuch gnformati n asBLe der ay�equest rega�rdirtg �
<br /> . perta;rring to the Property. Y' The information shall be for such penods,shalt reflect GrarttoPs records at such time,and shai�be
<br /> • G�tor's finanaal ccndition or the Property. �� ��information fum6shed by Grantor to Lender shall be ttue,accurate and�mplets in aU _
<br /> s rendered vrith such hequency as L.ender may desig _ .
<br /> respects.a�d si9ned by Grantor if Lender requests. ,�
<br /> �� ��pP�,C��r(Cp7'ES, Wfthin ten(10)days after any request by Lendar.Grantor shall deliver to Lender,or any intended transferee of
<br /> � Lender's rights with respect to the Obtigatians,a cignsd and acknowtedged statement speeifying(a)the outstanding balance on the Obligations:and
<br /> � � (bj whether Grantnr possess�s anY Ga�ms,defens9s,set-0fis or counterclaims with�e��to���nd aUmay malce t the inte ded Van e� ree w'tth ,F�••
<br /> ss s
<br /> defenses,seboffs or counterGaims. G���W���be�ndusively bound by any raP � .
<br /> , respect to these matters in the eveM that Grantor faits to provide the requested statemant in a timely manner.
<br /> 18, EVEFITS OF DEFALLT. M Event of Detault shall occur under thia Deed of Ttust and the Ttustee's power shall become operative in tfie event that i `
<br /> , Grantor.Borrower or any guarantor of the Obligations: ' .
<br /> (a)failsto pay any Obtigation to Lender when due; _
<br /> (b) faiis to peAotm any Obligation or breaches a�y warranty or covenent to Lender containetl in this Oeed of Trust or any other present or future j � . `y
<br /> , � agreemenT. • � ,. .�`
<br /> (c) desVOys.�oses or damages the Property in any material respect or uub�Ty o�^deB�Y���ure,confiscation o�condemnation; � •�
<br /> 1 (d) seeks to revoke.terminate or otherwise limit its iiabiliry under any g
<br /> � (e) dies.bewmes legatiy i�competent,is dissotved or terminated,becomes insolvent,makes an assignment tor the benefit of creditors.fai�s to `
<br /> � � pay debts as they become due,files a petition under the federal banktuptcy laws.has an involuntary petition in bankruptay filed in whicA Grantor. - .—
<br /> Bortower or any guarantor is named,or has property taken under eny writ or process of court: ,
<br /> (� al�ows goods to be used,transpoRed or stored on the Properry,the possession,transportation,or use of which,is illagal: � �;
<br /> �� �� ���g�y PaRy other than Grantor or Bortov�er to assume or undeReke any Obiigation without the written conseM of Lend�sr;or ' •�
<br /> (h) oauses Lender to daem itse�f insecure due to a significaM decline in the vaiue of the Property,or'rf Lender,in good Yaith.for any reason, �
<br /> � believes that the prospeCt of payment or pertortnance is impaired. . :•����f`�
<br /> ' � '.
<br /> . .� tg, plQHTS OF LENDER ON EVENT C''r DEFAUIt Upon the occuaence of an Evant of Defauft under this Deed of Trust.Lender shali be entitled to .:.,�, _-
<br /> exercise one or more of the tollowing reme��es without notfce or demand(excapt as repuired by Iaw):
<br /> ! (a) to daclare the Obligations immadiataly due and payable in fuli.such axeleration shalf be sutomatic and immediate'rfthe Event of OefauR is i- ._.�:,:.
<br /> � a filing under the Bankn+PtcY Code: � � ' �
<br /> • • (b) to collect the outstanding Obligations with or without resorting to judicial process: , . �%-—
<br /> • (c� to require Grantor w deliver and make avaitabla to Lender any personal property or Chattels consdtuting ths PraPBnY at a P��reasonabty ' .` " ,_�, _
<br /> _<<..
<br /> conveniertt to Grsntor and Lender. _
<br /> . (d) to enter upon and take possession of the Properry vrithout applying for or obtaining the appoirttment of a receiver and,at Lender's option.to . ,t y �:��
<br /> � _t.�,�i.
<br /> appoirrt a reoeiver w"ithout bond,without first bringing suit on the Obligations and without otherwise meeting any statutory ccndi�ons regarding �• ._
<br /> receivers,it befng intended that Lender shall have this contractual rigM to appoint a reCeiver; . :; t �
<br /> (e) to emptoy a managing agent o f t he P r o p e rt y a n d l e t the same,either in Trustee's owT name,in tNe nami f all neecessary harg a n d � . �'
<br /> ��. --
<br /> i ararttor,and receive the reMS,incomea,issues and profits of tho Property and apply the same,after paym , . ��:`. , .�; � �
<br /> � expenses.on accourn of the Obligallons;
<br /> �•� (� to pay any sums in any form or manner deemed expedient by Lender to protect the security af this Deed of Trust or to cure any detauft other , :���f�> ,•
<br /> � than payment of interest or pdncipai on the Obligations; ,
<br /> (g) to foreclose this Deetl of Trust judicial►y or nonjudicially and to direct the sale of the property through exeroise ot the power of sale as ' ,� � ' �,�
<br /> ra h 20,harein,in accordance v�ith applicahte Iaw; '
<br /> referenced in parag P
<br /> � oH Grantor's ObligaUons aga�nst any amounts oweC ti►aMOr by Lender inGuding,but not iimited to,monies,instruments,and deposit .._ �::� �) ,
<br /> (h)to set »,. z,� _ ,
<br /> accounts maintained with Lender or any cunenty exisdng or tuture affiliate of Lender,end�icable law. �
<br /> � � ()to exerclse atl other rights available to Lender under any other written agreement or epp ;j:' . ,�;� �
<br /> Lender's rights are cumulative and may be ezercised tagether,separately,and in any order. In the evartt that Lendar institutes an action seeking
<br /> m pht othenx�e berequ9t d�pLendei oaLendetp's tl segnee may purch e the�Property at any�sale�Proceeds of any Trust�ee e sa�e he eunder �f� i:• �
<br /> - shail be app�iea t�rst,to me wyt�an6 ax;,sr,r^s ot ex_rHsin�the oower of sale and of the sale,inctudln the payment of the Trustee's fees _ 2 —
<br /> °- atix�s:s��.r!�! �
<br /> actualry incurred and notto�T ofeu oe trust deedscmortgagesroriother�lienholde seand he balaece�if any tothe pe o or persons legalty T.�'� � i
<br /> hereby,third,to the payme J �
<br /> entiUed thereto. The Property or any part thereof may be sold in one parcel,or in such parcets,manner or order as Lsnder In its sote discreUon , „��:_-
<br /> � may eiect,and one o�more oxerc(ses of the power herein granted shall not extinguish or exhaust the power unless the entire Property is sold or . '
<br /> the obligations are paid in full• � �
<br /> 20. TRUS7EE'S D�RGSE OF PONtER OF SALE ON OEFAULT. Upon default by Botrowar in payment of any Obligations secured hereb�,Lender ;,�; �4��.
<br /> may declare ail su�er t h ef l a p s a o t s u c h U m e�a a s�t h e n s y b e r e q�ui ed b y aw foltow ng recordatio ot uch�otice o defaul�and notiee of sale �,�^--
<br /> � sell the Property. . -- -
<br /> � having been given as then req�ad dete mine,at publ c�auct on t the h�ighest 4 dder01Trustee ay postpo a the sale of a I or Pany po P rt i o'01 the -��
<br /> in such order as it or Lend y . .. . , �_
<br /> � � PropeRy by pubi(c announcement at the time and plaoe of sale,and from time to time thereafter may postpone the sale 6y public announcement at —
<br /> the Ume and place flxed by the precoding postponement. Trustee shall deliver to such purchaser ita deed eonveying the property,or portion thereot.
<br /> � so sotd,but wtthout any cevenant or warranty,expreas or implied. The reeitals In such deed of any matters of fact or othervvise,shall be conclusive , � � ___
<br /> proof ot the truthtutness thereof. My person,includmg Grantor,Trustee or Len�fer,may purchase at such sale. J�. , , '���� — _
<br /> • ' 21. RE�UEST FOR NOTlCES. Grantor requests that a eopy of any noUce of detault and a copy of any notice of sale hereunder be maited to each �...
<br /> . person who is a party heroto,at the address of such person set torth herein at the same time and In the same manner required as though a separate � �
<br /> • request thereof had baen flled by each such person. .
<br /> ?2. SECURITY INIEREST UNDER THE UNIFOAM COMMHRCIAL CODE This Deed of Trust shail be considered a financing statement and a �,_ ,
<br /> tixture fiUng putsuant to the provisions of the Uni}orm Commerciai Code(as adopted in the state whore the real property ls located)covering fixtures, _
<br /> chattels,end artictes of personal property now owned or horeafter attached to or to ba used in connection with the Property together with any e�d all
<br /> replaeements theteot and additions thereto(1he"Chatteis'),and G�antor hereby grants Lender a security interest in sueh Chattels. The debtor is the „ �
<br /> Grantor described above. The secured party is the Lender descnbed above. Upon demand.Grantor ahall make,execu!e and dellver such security r , �
<br /> • ! ' agreements(as such term is deflned in said Unitorm Commereial Codel as Lentler at any time may deem necessary or proper or required to grarrt to .
<br /> Lendar a perfected securi4y fnteretst in the Chattels,and upon Orantor's failure to do so,landor is authorized to sign any such agreemant as the agent
<br /> p}prantor. Grantor here by a u t h o r i x e s L e n d e r t o f i t a f i n a n c in g atatements(as such term is defined in said Uniform Commercial Code)with respact to
<br /> the Chariets,at any time,without the signaturo ot Grantor. Grantor wiil,however,at any time upon request o f Len der,s lgn su c h fl n a n c i n g a t a t e m e n t s. . �
<br /> Qrantor wlll pay all f�Ung fees�fer t fe„ei�ien ot th s D od ofg rustt be s bjact to�any secur�agreement covering theuChattelshthen in�the e e 2 af any . : . ��
<br /> ' sald UNform Commercial CA r--�_r
<br /> de}auit under this Oeed of Trust,all the right,tiUe and Interest of Orantor in and to any and all of the Chattets 1s hereby assigned to Lender,togethor =
<br /> with the banefit of any deposits or payments now or hereaftor made thereof by Grantor or the predecessors or suxessora in title of Grantor in the ,
<br /> Properiy. •
<br /> 23. iiEIMBURSEMETIT OF AMOUNTS 0(PEND�D BY LENDER. Lender,at londer's option,may expend funds pncluding attotneys'fees and legal
<br /> expenses)to pertorm any act requlred to be taken by arantor or to exetcise any right or remedy of Lender under this Deed ot Trust. Upon demand,
<br /> Grantor shall immediatoiy relmburse Lender for all such amounta expended by Lender together with Interest thereon at the lower of the highest tate �`-.•
<br /> described in any Obiigation or the highest rato ailowod by law from the date of payment until the date of reimbursement. These sums shall be
<br /> included in tho definit�an of Obligations herein and shail bo secured by the benefiCial interest granted hereln. If the Obligations are paitl aRer the ,
<br />. beginning af publication of notice of sale,as herein provided,or in the event Lender shatl,at its sole option,permit Grantor to pay any part of the
<br /> Obligations after tho beginning of pubiication of noUce of s�le,as herein provided,then,Gra�tor shall pay on demand all expenses inevrred by the f i '
<br /> ' Trusiee and Lender in connection with said pubiication,including reasonable attorneys'fees to the attorneys tor the Trustee and for the Lender,antl a
<br /> roasonable tee to the Trusteo,anq this Deed of Trust shall be secunty tor ail such expensos and feas. .
<br /> . � 24. APPLtCAT10N OF PAYMENT3. Aii payn'�onts made by or on behalf of Grantor may bo appiled against the amounts paid by L9nder pncluding . —
<br /> ! attornoys'fees and Ie�al expenses)in connection wdh the exercise of its rights or remedies described fn this Oaed ot Trust and then to tho payment `
<br /> of thv remainmg Obligations m whatever order Lender chooses.
<br /> I 25. POINER OF A7TOANEY. Grantor hereby appolnts Londer as its attorney-m•fact to endorse Grantor's name on all instrumenu and other i.__,
<br /> ' documents pertaining to the Obligations or Deed of Trust. In addition.Lender sha11 be entitiod,but not required.to pertorm any action or execute any , �
<br /> � ! document required to be taken or executed by Grantor under this Oeed ot Trust. Lender's peAormance o?such action ar execution a� such � .
<br /> documents shall not relieve Grantor from any Obligation ot eure any de�ault under this Oeed of Trust- A11 powars of attorney describetl in this�eed ot ' �:
<br /> � trust aro wuptnd with ar:ri;:r.�t ss:d sre'rrevoCAb�e I �
<br /> 1 d8 oh8�rg8dwG hTu�dsadvan�dEby Lendeerogardloss ofbwhether thesee�e 9s.secur ty inte ests o a therrencumbeances have been eleased of�record. •
<br /> � Pago�o}5 � . _
<br /> �P!1E5>>G r :orn.Abo'+fec�ro:og�es.'nt IS 2 961 18001 997 3)99 .
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