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<br /> DEED OF TRUST l
<br /> ., Loan No: IOD55409 (Continued) Page 5
<br /> coilsleral document to create a valid and perfected security Internal or gen)at any time and for any reason.
<br /> Death or Insolvency. The dissolution of Trustors(regardless of whether election le continue Is made), any member withdraws from the
<br /> limited liability company,or any other termination ofTrUsfars axlstenca as a goingbusiness or the death of any member,the Insolvency of
<br /> Truster,the appointment of a receiver for any pert of Trustees property, any assignment for the benefit of creditors, any type of creditor
<br /> workout,or the commencement of any proceeding under any bankruptcy or Insolvency laws by or against Trustor_
<br /> Creditor or Forfeiture Proceedings. Commencement of foretlgsure er forfeiture proceedings,whether by Judicial proceeding,sett-help,
<br /> repassamlon or any other malhod, by any creditor of Trustor Or by any governmental agency against any property securing the
<br /> Indebtedness. This Includes a garnishment of any of'rmstaes accounts,Including deposit accounts,with Lander. However, this Event of
<br /> Default shaft not apply If there Is a good faith dispute by Truster 8e to the validly Of reasonableness of the claim which Is the tousle,of the
<br /> creditor Or forfeiture proceeding and If Tru Of gives Lander wdtteh notice of the creditor of forfellum proceeding and deposits with Lender
<br /> monies or a surety bond for the creditor or fodalture proceeding.In an amount determined by Lender, in Its sole discratfon, an being an
<br /> adequate reserve or bond for the disputa.
<br /> Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that Is not
<br /> remedied within any grace period provided therein, including Without limitation any agreement concaming any Indebtedness or other
<br /> obligation of Truster to Lender,whether eldsllng now or later.
<br /> Events Affectfng Guarantor. Any of the preceding avants ocdurs with respect to any Guarantor of any of the Indebtedness or any
<br /> Guarantor Blas or becomes Incompetent,or revokes or disputes the validity of.or Ileblllty under,any Guaranty of the Indehtacinass_ In the
<br /> event Of a death, Lender, at its cptlon, may. but shall not be rewired to, permit the Guarantor's estate Io assume unconditionally the
<br /> obllgallons arl Under the guaranty In a manner satisfactory to Lender,and,In doing so,cure any Event of Default.
<br /> Adverse Change.. A material advwma change occurs In Trustdi's ftnanclal condition, or Lander believes the prospect of paymentor.
<br /> performance of the lndgbladnsss is Impelled,
<br /> Insecurity. Lander In good faith ballevas Itself Insocura.
<br /> Fight to Cure. If such a failure Is curable and If Trustor has not bean given a notice of a branch of the same provisionef Oils Deed of Trusl
<br /> within the preceding twelve(12)months, It may be cured(and no Event of default will have occurred)It Truslor,after Lander sands union
<br /> notice damandlhg cure of such failure: (a)Cures the !allure within len (10) days; er (b) If,1ha cure requires more than'len (10).days;
<br /> Immadisli.hilfetes steps sufAclant to cure the failure and thereafter cunllnues and compieles all mesonable and necessary slope sufficient
<br /> In produce compliance as soon as reasonably practical.
<br /> RIGHTS ANQ REMEDIES ON DEFAULT. If an Event of Default occurs under Ibis Deed of Trust,at any thins thereafter.Trustee or Lender may
<br /> axercise any one.w more of the following rights and rsmedlas:
<br /> ©ectlon'of Remedies. Eleanor;by Lander to pursue any mmOdyi shag not exclude pursuit of any other remedy,and an election In make
<br /> expandfiures pr to take action to.pere m an oblignfion of Trustor under this Dead of Trust.after Truslors fallura to perform, shall not affect
<br /> Landoes light to declare a default and warclse Its mmsdlas.
<br /> Foreclosure by Sale.. Upon arc Event or Default under this Dead of Trust,Beneficiary may declare the entire Indabledness secured by this
<br /> Dead of Trust Immediately due and payable by delivery to Trvslas of wdaan declaration of default and demand for sale and ofwrlHen notice
<br /> of default.and of election to numb to be Odd the Property,which Inotba Trustee shall cause to be filed for record. Beneficiary also shell
<br /> deposfl wigi'Trusiae this Deed of Trust, the Note, other documahts requested by Truelee, and all documants ovldenaing expondlluras
<br /> secured hereby. After the lapse at Such ging as may then be required by law Iollowlhg the recordation of the nolloe of default,and notice of
<br /> sale having boon given as than required by law,Trustee,without demand an Trustor,shall sail the Property at the time and place fixed by 11
<br /> In the noflCe of eels,either as a whole or in separate parcels,and i'q such order as It may determine,at public auction to the highest bidder
<br /> for cash In IavAul money of the United Stales, payable at time of sole. Trustee may postpone sale of all or any portion of the Property by
<br /> public announcement at such oma and place of sera,endfrom Ilm@@ l0 time lhamaHer may postpone such sale by public announcement at
<br /> the time fixed by Iiabut Wing postponement In accordance wllh aNliceble law. Trustee shag deliver to such purchaser Its deed conveying
<br /> the Propery so sold, but without.any covenant or wanenty,expresi4 or Implied. The recitals In such deed of any mansrs or laths shall be
<br /> conclusive proof of the truthfulness thereof. Any person, includipg Trustor, Trustee or Beneficiary may purchase at such sale. After
<br /> deducting all costs,rues and wpomes of Trustee end of this Twsly Including cost of evidence of was In connection with sale,Trustee shell
<br /> appy the proceeds or sale to payment of: an sums expanded under the lerms hereof,not then repaid,with accrued Inlarest at the amount
<br /> agowgd by law In effect at the data hereof;all other sums then sacbred hereby;and the remainder,If any.to the person or parsons legally
<br /> antilled thereto, )
<br /> Judicial Foreclosure, With respect to all or any pad of the Reel Prrtperty,Lender shall have the fight In Ilau of foreclosure by power of sale
<br /> to foreclose by Judicial foreclosure in accordance with and to the full bdenfprovlded by Col"Ornle law.
<br /> rsonal Properly,Lander shell have al the rights and remedies of a secured party
<br /> UCC Remedies, Wfih,respecl to all or any pad of the Pe
<br /> under the Uniform Cemmerolel Code,Including without Imitation die right to recover any daffeleKy,In the manner and to the full edenl
<br /> provided by California law.
<br /> Collect gents. Lander shall have the right.without notice to Truster to take possession of and manage the Property and collect the Rents,
<br /> Including amounts past due and unpaid, and apply y the net proceeds, over end above Lundeen costs, against the Indebtedness. In
<br /> lurtharance of Ibis rlghl,Lender may require any lenanl m Other user!of the Property to make payments of rant or use fees directly to Lander.
<br /> It the Rants are collected by Lander,then Truster Irrevocably designates Lander as Trustors atlornay-I 4scl to endorse Instruments retailed
<br /> In payment thereof In the name of Truslor and to negotiate the Sams and collect the proceeds. Payments by tenants or other users to Lender
<br /> In response to Lender's demand shell sallsty the obligations for whihh the payments are made,whalher Or not any proper grounds fat the
<br /> demand sxdslad. Lender may exerclea Its dghta under this subperagrpph elther In person,by aganl,or through a receiver.
<br /> Appoint peoefver. Lender Shan.have the right to hove a receiver a'ppolnied to lake possession of all,Or any part of the Property, with the.
<br /> power to protect and pm5OND the Property,to operale the Proporty preceding foreclosure or sale,and to cannot the Rants from the Property d
<br /> ane,appy the proceeds,over and above the cost of the reeelvarahlp,agelnet the Indebledness. The recover may soma without bond If
<br /> Permitted by low. Lenders right 10 the appointment of a rwAlver Shan exist whether or not the apparent value of the Property exceeds the
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