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03-2�-1998 DEED OF TRUST k'� Q
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<br /> Loan No 685255 Continued y;�:
<br /> . costs,expenses,and attorneys'fees incurred by Trustee or Lender in connection with the condemnation.
<br /> Proceedings. If any proceeding in condemnation is filed,Trustor shall promptly notify Lender in writing,and Trustor shell prompdy teke such
<br /> sieps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party in such proceeding,but Lender shall
<br /> be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice,and Trustor will deliver or
<br /> cause to be delivered to Lende�such instrumenis as may be requested by it from Nme to Hme to permit such participation.
<br /> IMPOSITION OF TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relatlng to governmentel texes,
<br /> fees and charges are a part of this Deed of Trust:
<br /> Current Taxes,Fees and Charges. Upon request by Lender,Trustor shali execute such documents in addition to this Deed of Trust and take
<br /> whatever other acdon Is requested by Lender to perfect and conNnue Lender's lien on the Real Property. Trustor shali reimburse Lender for all
<br /> taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including without
<br /> limitation all taxes,fees,documeniary stamps,and other charges for recording or registering this Deed of Trust.
<br /> Taxes. The following shall constitute taxes to which this section applies: (a)a specific tax upon this type of Deed of Trust or upon all or any
<br /> part of the Indebtedness secured by this Deed of Trust; (b)a speci8c tax on Trustor which Trustor is authorized or required to deduct from
<br /> payments on the Indebtedness secured by this type of Deed of Trust; (c)a tex on this type of Deed of Trust chargeable against ihe Lender or
<br /> the holder of the Note; and (d) a specific tax on all or any portfon of the Indebtedness or on payments of principal and (nterest mede by
<br /> Trustor.
<br /> Subsequent Taxes. If any tax to which ihis section applies is enacted subsequent to the date of this Deed oi Trust,this event shall have the
<br /> same effect as an Event of Default(as deflned below),and Lender may exercise any or all of its available remedies for an Event of Default as
<br /> provided below unless Trustor either (a)pays the tax before it becomes deBnquent,or (b)contests the tax as provided above in the Taxes and
<br /> Liens section and deposits with Lender cash or a suiflc(ent corporate surety bond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to th(s Deed of Trust as a secu�ity agreement are a part of
<br /> this Deed of Trust.
<br /> Security Agreement. This instrument shall constitute a security agreement to the extent any of the Property constftutes Nxtures or oiher
<br /> personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercia� Code as amended (rom time to
<br /> time.
<br /> Security Interest. Upon request by Lender,Trustor shall execute financing statements and take whatever other action is requested by Lender
<br /> to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in 1he real
<br /> prope�ty records, Lender may,at any time and without further authorization irom Trustor,file executed counterparis,copies or reproductions of
<br /> this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security
<br /> interest. Upon default,Trustor shall assemble the Personal Property in a manner and at a place reasonably convenfent to Trustor and Lender
<br /> and make it available to Lender within three(3)days after receipt of written demand from Lender.
<br /> Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party), irom which information concerning the security interest
<br /> granted by this Deed of Trusi may be obtained(each as required by the Uniform Commercial Code),are as siated on the first page of this Deed
<br /> of Trust.
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-facl are a part of this
<br /> Deed of Trust.
<br /> Further Assurances. At any time, and from time to time, upon request of Lender,Trustor will make, execute and deliver, or will cause to be
<br /> made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or
<br /> rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate,any and all such mortgages,
<br /> deeds of trust,security deeds,security agreements,financing statements,continuation statements,instruments of furfher assurance,certificates,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or
<br /> preserve (a)the obligations of Trustor under the Note,this Deed of Trust,and the Related Documents,and (b)the liens and security interests
<br /> created by this Deed of Trust on the Properfy,whether now owned or hereafter acqufred by Trustor. Unless prohibited by law or agreed to the
<br /> contrary by Lender in writing,Trustor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in
<br /> this paragraph.
<br /> Attorney-in-Fact. If Trustor fails to do any of the things referred to in the preceding paragraph, Lender may do so tor and in the name of
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby irrevocably appoints Lender as Trustor's aRorney-in-fact for the purpose
<br /> of making, executing, delivering, fll(ng, recording, and doing all other things as may be necessary or desirable, in Lender's sole opinion, to
<br /> accomplish ihe matters referred to in the preceding paragraph.
<br />� FULL PERFORMANCE. If Trustor pays all the Indebtedness when due,and otherwise pertorms all the obligations imposed upon Trustor under this
<br /> Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable
<br /> statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any
<br /> reconveyance fee required by law shall be paid by Trustor,if permifled by applicable law.
<br /> DEFAULT. Each of the following,at the option of Lender,shall constitute an event of default("Event of DefaulY')under this Deed of Trust:
<br /> Default on Indebtedness. Failure of Trustor to make any payment when due on the Indebtedness.
<br /> Defauit on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taues or insurance, or
<br /> any other payment necessary to prevent filing of or to eHect discharge of any lien.
<br /> Default in Favor of Third Parties. Should Borrower or any Trustor default under any loan,extension of credit,security agreement,purchase or I
<br /> sales egreement, or any other agreement, in favor of any other crediior or person that may materially affect any of Borrower's property or I
<br /> Borrower's or any Trustor's abiliry to repay the Loans or periorm their respective obligations under lhis Deed of Trust or any of ihe Related I
<br /> Documents.
<br /> Compliance Default. Failure of Trustor to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the I
<br /> Note or in any of the Related Documents.
<br /> False Statements. Any warranty,representation or statement made or furnished to Lender by or on behalf of Trustor under this Deed of Trust, �
<br /> the Note or the Related Documents is false or misleading in any material respect,either now or at the time made or furnished.
<br /> Defective Collateralization. This Deed oi Trust or any of the Related Documents ceases to be in full force and effect(including failure of any
<br /> collateral documents to create a valid and perfected security interest or lien)at any time and for any reason.
<br /> Insolvency. The dissolution or termination of Trustor's existence as a going business,the insolvency of Trustor, the appointment of a receiver
<br /> for any part of Trustor's property, any assignment for ihe benefit of creditors, any type of creditor workout, or the commencement of any
<br /> proceeding under any bankruptcy or insolvency laws by or against Trustor.
<br /> Foreclosure,Forieiture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,self-help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmental agency against any of the Property. However,this subsection shall not
<br /> apply in the event of a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the basis of the foreclosure or
<br /> forefeiture proceeding, provided that Trustor gives Lender written notice of such claim and furnishes reserves or a surety bond for the claim
<br /> satisfactory to Lender.
<br /> Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trusior and Lender thet is not remedied
<br /> within any grace period provided therein,including without limitation any agreement concerning any indebtedness or other obligation of Trustor
<br /> to Lender,whether existing now or Iater.
<br /> Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br /> dies or becomes incompetent, or revokes or disputes the validity of,or liability under,any Guaranty of the Indebtedness. Lender,at its option,
<br /> may, but shall not be required to, permit the Guarantor's estate to assume unconditionally the obligations arising under the guaranty in a
<br /> manner satisfactory to l.ender,and,in doing so,cure the Event of Default.
<br /> Adverse Change. A mate�ial adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or
<br /> performance of ihe Indebtedness is impaired.
<br /> insecurity. Lender in good faith deems itself insecure.
<br /> Existing Indebtedness. A default shall occur under any Existing Indebtedness or under any instrument on the Property securing any Existing
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