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<br /> ' 15. YAXES APJO ASSESSIIl1ENY5. Grantor shali pay a���xes and assessments relating so the Properry�vhen due and immeaiateiy provide Lender � � `'� `�s=
<br /> .� evi�ence of paymer�'c of same• UFon the request of Lender.Gramnr shalt deposit wiih Lender eact►moMh one-twelfth(1/12)of the estimated annuai -�—
<br /> insur�nce premum,ta�ces and assessments pertaining to the Property. So long as there is no defauft.these arc�ourris shal?be applied to the payment s_.
<br /> � of r,axes.assessments and��o a ���e�bGga onPs.ro Any tunds applied may.atule detls pt�onh be appl edn n re erselotder�of the d�e'daYe �-
<br /> funds so held to pay a�y 9 ..d
<br /> �ereof. `�.'�e
<br /> i6. INSPECTtOtd OF PROPERTY, BOOKS,pECORDS AD1D REPORTS• Grantor shall allow Lender or its agents to exemine and inspect the , ,
<br /> Properry and examine.inspect and make copies ot GrantoPs books and records pertaining ta the Property hom Ume to time. Grantor shall provide ���:�:
<br /> any assistanoe required by Lendar for these purposas. WI of the signatures and information contained in Grantor's books and rocords shalt be
<br /> genuine.true,aocurate and complete in all respecYS• Grantor shatl note the existence of Lander's benefiaal interest in its books and records
<br /> . pertairting to the Proparty. Additionalty.Grantor ahall report,in a fortn satisfactory to lendar,such mtormation as Lender may request regardin9 �'
<br /> Grantor's finanaas ccndition or the Fkoperty. The irtformation shall be for such periods,shall reflrct Gsantor's records ffi sucfi time,and shalt be _
<br /> rendered tivitfl such frequency as Lender may designate. A1�information tumished by Gran4or to Lender shall be true.accurete and complete in all .-,�
<br /> respects.and signsd by GraMOr'rf Lender requests. -_
<br /> �7. E57pppE1,CEpT(FtCATES. Within ten�10)days after any raquest by Lender,�tm s�hall deliver to Lendar,ot any intended transferee of
<br /> Lender's rights with respect to tF�e Obtigations.a signed and acknawfedged statement eci n (a)fhe outstanding balance on the Obligations:and �_
<br /> (b)whether Grantor po9sesses any claims,defenses,set-offs or counterdaims wiTh respect to tho Ob�igations and.'rf so,the nature of such daims, __
<br /> defenses,set-oNS or counterdaims. Grantor will be conclus»aly boand by arry representatlon that Lender may make to the intended Vansferea�vith
<br /> respect to these matters in the event thaz Grantor fails to provide the requestetl statement in a tirtsely manner. ,
<br /> 1g. �VENTS OF DEFAULT. M Event cf DefauR shal!occur under this Deed of Trust and the Trustee's power shall become opetative in the evaM that
<br /> Grenwr,eorrower or any guaranwr of the Obligstions: � ,
<br /> (a) taits to pay any Obligation to Lendsr when due: F
<br /> (b) taits to perform any Obligation or breaches any warcanty or covenant to Lender coMained in this Deed of Trust or any other prasent ar future `
<br /> agreemenz •
<br /> • � (c) destroys,Ioses or damages the Properry in any material respect or subjects the Property to seizure,confiscation,or condemnation: I _.4 ...
<br /> � (d) seeks to revoke,terminffie or otfiervviae limit its liabilityr under any guarantyto Lender, � • .
<br /> (e) dies,becomes legally incompetent,is dissolved or tertninated,becomes insolvent,makes an assignment for t�e benefit of creditors,faits to �
<br /> � pay debts as they hecome d�e,files a petition under the federal bankruptcy laws,has an involunffiry petition in bankruptcy fited in which Grentor, � .
<br /> BoROwer or any guarantor is named,or has property taken under any writ or process ot cour� �
<br /> (� allows goods to be used,transported or stored on the Property.the possession,hansportation,or use of which,is illegal; : - •
<br /> '. (g) allows any party other than Grantor or Borrower to assume or undertake any Obligatian witfiout tha written consent of Lender,or i '.�_
<br /> (h) causes Len.'er w deem itself insecure due to a significant dedine in tfie value of the Property:or'rf Lender,in good faith,for any reason, ` . �:
<br /> belisves that the prospect of payment or performancs is impaired. . • �•
<br /> 19. RIGHTS OF LENOER ON EVENT OF OEPAULT. Upon the occurrence of an Everrt of Default under this Deed of Tnist,Lender shall be entiUed to � . '
<br /> ' exercise one or more of tho tollowing remedies without notice or demand(except as required by Iaw): . . � ..
<br /> ; (a► to dedare the Obllgations immediaiety due and payabte in full,such acceteration shall be sutomatic and immediate'rf the Event of DefauR is �{[ � . ��`
<br /> afiling underthe BanktuptoyrCade: C . ' +-
<br /> (b) to collect the outstanding Obligations with or without resorting to judiaal pracess: �. . ;7 a
<br /> ' (c) w require Grarrtor to deliver and make available to Lender any personal property or Chattels constiutting the PropeRy at a place reasonabty ! . .•
<br /> convanient to GraMar and Lender; _
<br /> (d) to enter upon and take possession ot the Property vrithout applying tor ot obtaining the appointment of a recelver and,at Lsnder's opUon,to }. `.:��-�;?�;'.
<br /> _ , appoint a recaiver without bond,ivithout flrst bringing suit on the Obligations and without othenvise meeUng any statutory conditions regarding 4 �► ��•z =
<br /> + re�h:ers,it being intended that Lender shall have this contractual right to appotnt a receiver. . . " .
<br /> (e) to employ a managing agent of the Property and let the sama,e'dher in Trustee's own name,in the name of Lender or in the name of . .
<br /> Grentor,and recelve the rerrts,ineomes.issues and proflts of the Property and apply the same.after payment of all necessary charges and . . • �
<br /> expenses,on account of the Obligations: � , `.. .� � ��__
<br /> _ (� to pay any sums in any form or manner deemed expedient by tender to protect the securiry of this Deed of Trust or to cure any defauk othat �. i
<br /> than paymerrt of interes!ar principal on the Obligations: • ,• #� t --
<br /> (g) to forectose this Deed of Trust judlGally or nonjudicialty and to direct the sale o9 the property through exerclse of the power of sale 8s C: �'4� ;
<br /> referenced in paragraph 20,herein,in accordance with applicable Iaw: � -' : ��
<br /> (h)to setaH Cirantor's Obfigations against any amounta owed Qrantor by Lender InGuding,but not limited to,monies.Instruments,and deposit . _
<br /> aceourHS maintained with Lender or any curtentfy existing or future affiliate of Lender,and � ��`�f —
<br /> % �.SLg(
<br /> " (i)to exercise all other rlghts aveilabte to Lender under eny other written agreement or applicable law. ;�'�!�•�,
<br /> . Lender's rights are wmulativa and may be exeroised together,separately,and in any order- tn the event that Lender instiAites an acNon seek(ng . ''��
<br /> the recovery of any of the Property by way of a prejudgment remedy in an action against Grantor.Grantor waives the posUnp o!any bond which .
<br /> migfit othervviss be required. L.ender or Lender a designea may parchase the Proporty at any sale. Praceeds of any Trustee's sate hereunder � t..',;�;�.:.;
<br /> shall be applied flrst,to the costs and ezpenses of exerasing the power of sale and of the sale.including the payment of the Trustes's fees •. �--�,
<br /> actualty Incurted and not to exceed tfle amouat whioh may be provided for in this Deed of Trust,second,to payment ot the Obligatlons secured ?�:i.....
<br /> - hareby,thtrd,to the payment of junior trust deeds,mortgages,or other lienholders,and the balanCe,i1 any,to the person or petsona lagally -
<br /> • entiUed theroto. The Property or any part thareof may be sotd in one parcel,or in such parcels,manner or ordar es lendar in its sola discreUon
<br /> may elect,and one or more exercises of the power herein grantod ahall not extinpulsh or exhaust tt�e power unless the enUre Property is sold or !
<br /> the obligaUOns are pald(n full. � �`?.�'—
<br /> ?A. TRUSTHE'S E%ERCISE OF POWEH OF SALE ON DEFAULT. Upon default by Bonower in payment of any Obligat(ons seared hereby,Lender � -
<br /> � may dedare all sums,secured hereby,Immediately due and payable and ahall cause to be filed ot record a wrltten noUce of default and etection to � ,�
<br /> selt the Property. After the Iapse of such tlme as then may be requirad by Iaw fotlowing rocordatlon ot such naUce of default,and notice o!sale
<br /> having beon ghren as then requfred by law.Trustee,wlthout demand on Grantor,shall sell such Piroperty.elther as s whote or in separate paroets,and ��:=-��
<br /> tn such ordar as lt or Lender may tletermine,at publlo auctlon to the Mg�est b(dder. Trustee may postpone ttie sale of ail or any portlon of tfie '• � ,-� �
<br /> ""� Proparry by publio announcemeM at the time and place of sale,and from Ume to time theroafter may postpona the sale by publio announcement at ''?•' -��-�
<br /> the tlme and place flxed by the precetling postponement. Trustee shall dellver to such purcheser its deed conveying the property,or porUon theroof, • � �-,t.=.�
<br /> so sald,but wfthout any wvanant or wananty,exprers or imptled. The reGtats In such deed ot any matters of fact or otherwlse,shall be conctustve •
<br /> proof of the truthfulness thereof. Any person,lncluding Grantor,Trustee or Lender,may purchase at such eate. �` :
<br /> 21. iiEaUEST FOA HOTtCES. Grantor requesis that a copy of any notice of defauR and a copy of any notice of sale hereunder be maited to each � ��
<br /> person vfio Is a party herato,at the address of such person set forth hereln at the same ttme and in the same manner required as though a sepatate _ _.._.
<br /> roquest thereof had been tlled by each such person. � . ' _
<br /> 22. 3ECURftY IN'fEREET UHDER THE UHIFORM COMMERCIAL CODE This Daed of Trust shatl be considored a flnancing statement end a � , _
<br /> � fixture filing pursuant to the provlslons of the Unlform Commerctal Code(as adopted In the state where the real property is loeated)covering flxtures. . .
<br /> Chattels,and arUcles of personal property now owned or hereafter attached to or to be used In conne�tlon wlth the Property together with eny and all =
<br /> replacemonts thereof and additions thereto(the'Chattets'),and Grantor hereby grants Lender a securityr Interest in sucfi Chattels. The debtor is the
<br /> Grantor described abave. The secured party is tha Lender described above. Upon demand,Grantor shall maka,execute and deliver such securlty . _
<br /> agreements(as such term is defined in said Uniform Commerdal Code)as Lender at any time may tleem neeessary or proper or requlred to grant to � �..
<br /> Lender a perfected security interest in the Chattels,and upon Grantor's faiture to do so,Lender is authorized to sign any such agreement as tha agant
<br /> o}Granior. �rentor hereby authorizee Lender to fi�e financing statements(as such term Is deftned In sald UNfortn Commercfal Cado)wkD respect to �;
<br /> the Chattels,at any tlme,without the signature of Grantor. Grantor w1ll,hawever,et any Nme upon request of Lender,sign such flnancing statements. � --
<br /> Grantor will pay all filing fees for the flling of such flnancing statements and far the refiling thereof at the times required,In the opinion of Lendar,by
<br /> said Unliorm Commercial Code. M the Ilen ot thfs Deed of Trust be subject to any security agraement covering the Chattels,then In the evont of any h ,
<br /> default under thls Qeed of Trust,all the rtght,tiUe and interest af Orantor in and to any and all of tAe Chattels is hereby assigned to Lsnder,together �
<br /> witfi the benefit of any deposfts or payments now or heroafter made thoreof Dy Grantor or the predecessors or successors In tltle ot Grantor In the ;.
<br /> ProPeAY• `• '. .
<br /> 23. REIMBURSEMENT OF AMOUNTS O�ENDED 8Y LENflER. Lender,at Lender's optlon,may expend funds Qncluding attornoys'fees and logal �
<br /> expensas)to perfortn any aCt requited to be taken by Grantor or to exerclse any rlght or remedy of Lender under this Deed of Trust. Upon demand. �
<br /> Grantor shall Immediately refmbu�se Lender for all such emouMS expended by Lbnder together with Interest thereon at the lower of the hlghest rate
<br /> described In any ObtigaUon or the hlghest tate altowed by law from the date of payment until the date of relmbursement. These sums shell be —
<br /> inctuded in the definition of ObligaUons he:ein and shall be securad by the beneficial interest granted herein. If the Obligations are paid after the _
<br /> beglnning of publlcation ot notice ot sale,as herein provided,or in the event Lender shall,at its sole option,permit Grantor to pay any part of fhe - -
<br /> Obligations after the beginning o}publlcation of notice of sate.as herein provided,then,Grantor shall pay or.demand all expenses incurred by tho • —
<br /> Trustee and Lender In connecUon wlth said p�bllcation.ineluding reasonable attorneys'fees to the attomeys for the Trusteo and for the Lendor,and a
<br /> reasonablo fee to the Trustee,and this Deed of 7rust shall be security for alI such oxpenses and fees.
<br /> ?A. APPiACAT[ON OF PAYI'AENT3. All paymeMS made by or on bohalt of Grantor may he appliod against the amounts paid by Lender(+ncluding �'
<br /> attorneys'fees and legal expenses)in connection with the exercise of ib nghts or remedies described in this Deed of Trust and then to the payment
<br /> ' of the remalning Obligations in vlhatevar order Lender choosns. . �
<br /> ' 25. POWEq OF A7TORNEY. Grantor hereby appoints Londer as its attomeyin-iact to endorso Grantor's name on a11 instruments and other . —
<br /> doeuments pertaining to the Obligations or Deed of Trust. In addition.Lender shall be entitled.but not required,to perform any action or execute any
<br /> . doeumeM required to be taken or executed by Grantor under this Deed of Trust Lender's peAormance of such acGOn or execution of such
<br /> doauments shall not relieve Grantar from any Obligation or cure any default under this Deed of Trust. AII powers ot attorney deseribed in this Oeed of
<br /> • Trust are couplod with an intorest and aro irrevocabte. • ��
<br /> 28. SUBAOQATIOH QF LENDER. Lender shall bo subrogated to tho rights ot the holder of any previous hen. security mterest or eneumbranCe � � -- ---
<br /> diacharged with tunds advanced by Lsndor regardless of whether thesa liens.security mterests or other encumbrances havo been released of record. ��•-•
<br /> lpNE5•�C < <amAt�on Tecnn�iog�m.��c i5 t�961 �800�937 3799 vege?o�S ' ,
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