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<br /> / 11-05-2001 DEED OF TRUST Page 5
<br /> i (Continued)
<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 [rust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance,
<br /> certificates,and other documents as may, In the sole opinion of Lender, be necessary or desirable In order to effectuate, complete, perfect, —
<br /> !II continue,or preserve (a)the obligations of Trustor under the Note,this Deed of Trust, and the Related Documents, and (b)the Ilan and
<br /> security Interests created by this Deed of Trust as first and prior Ilan on the Property,whether now awned or hereafter acquired by Trustor.
<br /> Unl"sprohlbilWityla or the conlrery by L"ender In writing,Tnuslor sshall reimburse Lenderfdr aall costs and expenses Incurre n
<br /> connection with the matters referred.to In this paragraph.
<br /> Attorney-In-Fact. If Trustor falls to do any of the things referred to in the preceding paragraph, Lender may do so for and In the name of
<br /> Truslor and at Trustor's expense. For such purposes,Trustor hereby Irrevocably appoints Lender as Trustors attomey-In-fact for the purpose
<br /> of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, In Lender's sole opinion, to
<br /> accomplish the matters referred to In the preceding paragraph.
<br /> FULL PERFORMANCE. If Truslor pays all the Indebtedness when due,and otherwise performs all the obligations Imposed upon Truslor 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. Lender
<br /> may charge Trustor a reasonable reconveyance fee at the time of reconveyance.
<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 /> j Default on Indebtedness. Failure of Trustor to make any payment when due on the Indebtedness.
<br /> Default on Other Payments. Failure of Truslor within the time required by this Deed of Trust to make any payment fortaxes or Insurance,or
<br /> any other payment necessary to prevent filing of or to effect discharge of any Ilan.
<br /> Default in Favor of Third Parties. Should Borrower or any Trustor default under any loan,extension of credit,security agreement, purchase
<br /> or sales agreement,or any other agreement, In favor of any other creditor or person that may materially affect any of Borrower's property or
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<br /> Bon ower's or any Trustor's ability to repay the Loans or perform their respective obligations under this Deed of Trust or any of the Related
<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
<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[his Deed of Trust,
<br /> the Note or the Related Documents is false or misleading in any material respect,either now or at the fime made or furnished.
<br /> Defective Collaterallzallon. 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 perfected security Interest or lien)at any time and for any reason.
<br /> I Death or Insolvency. The death of Trustor or the dissolution or termination of Trustor's existence as a going business, the Insolvency of
<br /> ' Truslor, the appointment of a receiver for any part of Trustor's property, any assignment for the benefit of creditors, any type of creditor
<br /> j workout,or the commencement of any proceeding under any bankruptcy or Insolvency laws by or against Trustor.
<br /> Foreclosure, Forfeiture, etc. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help,
<br /> repossession or any other method, by any creditor of Trustor or by any governmental agency against any of the Property. However, this
<br /> subsection shall not 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
<br /> the foreclosure or forefelturs proceeding, provided that Trustor gives Lender written notice of such claim and furnishes reserves or a surely
<br /> bond for the claim satisfactory to Lender.
<br /> Breach of Other Agreement. Any breach by Truslor under the forms of any other agreement between Trustor and Lender that Is not
<br /> remedied within any grace period provided therein,Including without limitation any agreement concerning any Indebtedness or other obligation
<br /> of Trustor to Lender,whether existing now or later,
<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 Lender,and,In doing so,cure the Event of Default.
<br /> Adverse Change. A material adverse change occurs In Trustor's financial condition, or Lender believes the prospect of payment or
<br /> performance of the Indebtedness Is Impaired.
<br /> Insecurity. Lender In good faith deems Itself insecure.
<br /> Right to Cure. If such a (allure Is curable and If 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 Truslor, after Lender sends written
<br /> notice demanding oure of such fallure: (a)cures the failure within fifteen (15)days: or (b) If the cure requires more than fifteen (15)days,
<br /> Immediately Initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient to
<br /> produce compliance as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of 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 /> Foreclosure by Sale. Upon an Event of Default under this Deed of Trust, Beneficiary may declare the entire Indebtedness secured by [his
<br /> Deed of Trust Immediately due and payable by delivery to Trustee of written declaration of default and demand for sale and of written notice of
<br /> default and of election to cause to be sold the Property,which notice Trustee shall cause to be filed for record. Benefolary also shall deposit
<br /> with Trustee this Deed of Trust,the Note,other documents requested by Trustee,and all documents evidencing expenditures secured hereby.
<br /> After the lapse of such time as may then be required by law following the recordation of the notice of default, and notice of sale having been
<br /> given as then required by law,Trustee,without demand on Truslor,shall sell the Property at the time and place fixed by It in the notice of sale,
<br /> either as a whole or in separate parcels,and In such order as it may determine,at public auction IO the highest bidder for cash In lawful money
<br /> of the United States,payable at lime of sale. Trustee may postpone sale of all or any portion of the Property by public announcement at such
<br /> time and place of sale, and from time to lime thereafter may postpone such sale by public announcement at the time fixed by the preceding
<br /> postponement in accordance with applicable law, Trustee shall deliver to such purchaser Its deed conveying the Properly so sold,but without
<br /> any covenant or warranty, express or Implied. The recitals In such deed of any matters or facts shall be conclusive proof of the truthfulness
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