Laserfiche WebLink
11.1 Defense of Title: Subject to the exceptions in the paragraph above,Grantor warrants and will forever <br /> defend the title against the lawful claims of all persons. In the event any action or proceeding is commenced that questions <br /> Grantor's title or the interest of Beneficiary or Trustee under this Deed of Trust, Grantor shall defend the action at its <br /> expense. <br /> 12. Power and Obligations of Trustee: In addition to all powers of Trustee arising as a matter of law,the Trustee <br /> shall have the power to take the following actions with respect to the Property upon the request of Beneficiary and Grantor: <br /> to join in preparing and filing a map or plat of the Real property,including the dedication of streets or other rights in the <br /> public;to join in granting any easement or creating any restriction on the Property;and to join in any subordination or other <br /> agreement affecting this Deed of Trust or the interest of Beneficiary under this Deed of Trust. <br /> 13. Reconveyance on Full Performance: If Grantor pays all of the Indebtedness when due and otherwise perforans all <br /> the obligations imposed upon Grantor under this Deed of Trust and the Note,Beneficiary shall execute and deliver to Trustee <br /> a request for full reconveyance in the form set forth on this Deed of Trust and shall execute and deliver to Grantor suitable <br /> statements of termination of any financing statement on file evidencing Beneficiary's security interest in the Income and the <br /> Personal property. Any reconveyance fee or termination fee required by law shall be paid by Grantor, if permitted by <br /> applicable law. • <br /> 14. Default: The following shall constitute events of default,by Grantor: <br /> 14.1 The failure of Grantor to pay any portion of the Indebtedness when it is due. <br /> 14.2 The failure of Grantor within the time required by this Deed of Trust to make any payment for taxes, <br /> insurance,or for any other payment necessary to prevent filing of or to effect discharge of any lien against the Property. <br /> 14.3 The breach of the Due on Sale provisions of this Deed of Trust. <br /> 14.4 The insolvency of the Grantor;or the appointment of a receiver for any part of the Property;or the assignment <br /> for the benefit of creditors by the Grantor;or the commencement of any proceeding under any bankruptcy or insolvency laws <br /> by or against the Grantor,or the failure of Grantor to obtain the dismissal of any petition filed under any bankruptcy or <br /> insolvency laws within the time required to answer. <br /> 14.5 The failure by Grantor to perform any other obligation under this Deed of Trust, <br /> 14.6 Beneficiary has sent to Grantor a written notice of the failure and the failure has not been cured within ten(10) <br /> days of the notice,or if the default cannot be cured within ten(10)days, Grantor has not commenced curative action or is <br /> not diligently pursuing such curative action. <br /> 14.7 Grantor has been given notice of a breach of the same provision(s)of this Deed of Trust within the preceding <br /> twelve(12)months. <br /> 15. Rights and Remedies On Default Of Grantor: Upon the occurrence of any event of default and at any time <br /> thereafter,the Trustee or Beneficiary may exercise any one or more of the following rights and remedies,in addition to any <br /> other rights or remedies provided by law: <br /> 15.1 The Beneficiary shall have the right at its option without notice to Grantor to declare the entire Indebtedness <br /> immediately due and payable. <br /> 15.2 With respect to all or any part of the Property,the Trustee shall have the right to foreclose by notice and sale, <br /> and Beneficiary shall have the right to foreclose by judicial foreclosure,in either case in accordance with and to the full <br /> extent provided by applicable law. <br /> Page 4 <br />