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03-26-1998 DEED OF TRUST ' Page 4
<br /> Loan No 684084 (Continued) ��—'1��1�
<br /> SEQURITY AGREEMENT;FINANCING STATEMENTS. The foilowing provisions relatlng to this Deed of Trust as a security agreement are a part of
<br /> this Deed of Trust.
<br /> Security Apreement. This instrument shall constitute e security agreement to the extent any of the Property constitutes fixtures or other
<br /> personal property, and Lender shall have all of the rights of a secured pe�iy under the Uniform Commercial Code as amended trom Nme to
<br /> time.
<br /> Security Interest. Upon request by Lender,Trustor shall execute flnancing statements and take whatever other acHon 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 the real
<br /> property records,Lender may,at any Nme and without further authorization from Trustor,file executed counterparts,copies or reproducHons 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 deisuit,Trustor shall assemble the Personal Property in a manner and at a place reasonably convenient io Trustor and Lender
<br /> and make it available to Lender wRhin three(3)days after receipf of written demand irom lender.
<br /> Addresses. The mailing addresses of Trustor (debtor) and Lender (secured periy), from which information concerning the secu�fty interest
<br /> granted by this Deed of Trust may be obtained(each as required by the Uniform Commercial Code),are as steted on the flrst pafle of this Deed
<br /> ot Trust.
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-IrFfact 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 wiil cause to be
<br /> made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be flled, recorded, reflled, 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,securiy deeds,security agreements,financing statements,continuation statements,instruments of further assurance,certi8cates,
<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 Dxuments,and (b)the liens end security interests
<br /> created by this Deed of Trust as first and prior Uens on the Property,whether now owned or herea(ter acqulred by Trustor. Unless prohibited by
<br /> law or agreed io the contrary by Lender in wriNng,Trustor shall reimburse Lender for all costs and expenses incurred in connecdon with the
<br /> maHers referred to in 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 for and in the name of
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby irrevocably appoints Lender as Trustor's attorney-in-fact for the purpose
<br /> of making, executing, delivering, filing, recording, and doing ali other things as may be necessary or desirable, in Lender's sole opinion, to
<br /> accompUsh the matters referred to in the preceding paragraph.
<br /> FU1 PERFORMANCE. If Trustor pays all the Indebtedness when due,and oihervvise performs all the obligations imposed upon Trustor under this
<br /> Deed of Trust, Lender shall execule and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitabte
<br /> statements of termination of any financing statement on file evidencing Lender's secu�ity interest (n the Rents and the Personal Property. Any
<br /> reconveyance fee required by law shall be paid by Trustor,if permitted by applicable law.
<br /> DEFAULT. Each of the following,at the option of Lender,shall constitute an event of default("Event of Default")under this Deed of Trust:
<br /> Default on Indebted�ess. Failure of Trustor to make any payment when due on the Indebtedness.
<br /> Oefault on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or insurance,or
<br /> any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> DefauN in Favor of Third Parties. Should Borrower or any Trustor default under any loan,extension of credit,security agreement,purchase or
<br /> sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or
<br /> Borrower's or any Trustor's ability io repay the Loans or perform their respective obligations under this Deed of Trust or any of the Related
<br /> Documents.
<br /> Compliance Defauit. Failure of Trustor to comply with any other term, obligation, covenant or condition contained in this Deed of Trust,the
<br /> Note or in any ot the Related Documents.
<br /> False Statements. Any wananty,representation or statement made or furnished to Lender by or on behalf of Trustor under ihis Deed of Trust,
<br /> the Note or the Related Documents is false or misleading in any materia�respect,either now or at the time made or furnished.
<br /> Defective Collateralizatlon. This Deed of 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 pertected security interest or lien)at any time and for any reason.
<br /> Death or Insolvency. The dissolution or termination of Trustor's existence as a going business or the death of any partner, the insolvency of
<br /> Trustor,the appointment ot a receiver for any part of Trustor's property,any assignment for the benefit ot creditors,any type of credfior woricout,
<br /> or the commenceme�t of any proceeding under any bankruptcy or insolvency laws by or against Trusior.
<br /> Foreclosure,Forielture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,self-help,repossession
<br /> or any olher method,by any creditor of Trustor or by any governmental agency against any of ihe Property. However,this subsectfon shafl not
<br /> apply in the event of a good (aith dispute by Trustor as to the vaNdity or reasonableness of the clafm 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 Trustor and Lender that is not remedied
<br /> within any grace period provided therein,including wiihout fimitation any agreement concerning any indebtedness or other obligation of Trustor
<br /> to Lender,wheiher existing now or later.
<br /> Events Aifectinp 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 Indebledness. Lender,at its option,
<br /> may, but shall not be required to, permit the Guarantor's estate to assume unconditionaily the obligations arising under the guaranly in a
<br /> manner satisfactory to Lender,and,in doing so,cure the Event oi Default.
<br /> Adverse Change. A material adverse change occurs in Trustor's fin8ncial condition, or Lender believes the prospect ot payment or
<br /> performance of the Indebtedness is impaired.
<br /> Insecunty. Lender in good faith deems itself insecure.
<br /> Right to Cure. If such a failure is curable and H Trustor has not been given a notice of a breach of the same provision of this Deed of Trust
<br /> within the preceding twelve (12) months, it may be cured (and no Event of Default will have occurred) if Trustor, atier Lender sends w�(tten
<br /> notice demanding cure of such failure: (a) cures the fallure within 8fteen (15) days; or (b) N the cure requires more than fifteen (15) days,
<br /> immediately initlates steps sutficfent to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient to
<br /> produce compliance es soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAIAT. Upon the occurrence o(any Event of Default and at any time thereafter,Trustee or Lender,at its option,
<br /> may exercise any one or more of the following rights and remedies,in addition to any other rights or remedies provided by law:
<br /> Acceleration upon Default; Additional Remedies. If any event of default occurs as per the terms of the Note secured hereby, Lender may
<br /> declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become due and payable without
<br /> any presentment,demand,protest or notice of any kind. Thereafter,Lender may:
<br /> (a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without
<br /> regard to the adequacy of its security,enter upon and take possession of the Property,or any part thereof,in its own name or in the name
<br /> of Trustee,and do any acts which it deems necessary or desirable to preserve the value,marketability or rentability of the Property,or part
<br /> of the Property or interest in the Property;increase the income from the Property or protect the security of the Property;and,wlth or without
<br /> taking possession of the Property,sue for or otherwise collect the rents, issues and profits of the Property, including those past due and
<br /> unpaid,and apply the same,less costs and expenses of operation and coilection,including attorneys'fees,to any indebtedness secured
<br /> by this Deed of Trust,aU in such order as Lender may determine. The entering upon end taking possession of the Prope�ty,the collecNon
<br /> of such�ents,issues and profits,and the application thereof shall not cure or wafve any default or notice of default under this Deed of Trust
<br /> or invalidate any act done in response to such default or pursuant to such notice ot defauft; and, notwithstanding the conHnuance in
<br /> possession of the Property or the collection, receipt and applicaHon of rents, issues or profits, Trustee or Lender shall be entlded to
<br /> exercise every right provided for in the Note or the Retated Dxuments or by law upon the occunence of any event of default,including the
<br /> right io exercise the power of sale;
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