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387709 1131/2023 4:17 PM M' '°elix
<br /> 4 of 7 R$43.00 D$0.00 Alamosa C‘ Clerk and Recorder
<br /> DEED OF TRUST
<br /> Loan No: 16028 (Continued) Page 4
<br /> Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property
<br /> records, Lender may, at any time and without further authorization from Grantor, fife executed counterparts, copies or
<br /> reproductions of this Deed of Trust as a financing statement. Grantor shall reimburse Lender for all expanses incurred In
<br /> perfecting or continuing this security interest. Upon default,Grantor shall not remove,sever or detach the Personal Property
<br /> from the Property. Upon default,Grantor shall assemble any Personal Property not affixed to the Property in a manner and at a
<br /> place reasonably convenient to Grantor and Lender and make it available to Lender within three(31 days after receipt of written
<br /> demand from Lender to the extent permitted by applicable law.
<br /> Addresses. The mailing addresses of Grantor(debtor)and Lender(secured party)from which information concerning the security
<br /> interest granted by this Deed of Trust may be obtained leach es required by the Uniform Commercial Coda)are as stated on the
<br /> first page of this Deed of Trust.
<br /> FURTHER ASSURANCES:ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-In-fact are a pert
<br /> of this Deed of Trust:
<br /> Further Assurances. At any time,and from time to time,upon request of Lender,Grantor will make,execute and deliver,or will
<br /> cause to be made,executed or delivered,to Lender or to Lender's designee,and when requested by Lender,cause to be filed,
<br /> recorded, refiled, or rerecorded, as the case may be, at such times and in such offices and places as Lender may deem
<br /> appropriate,any and all such mortgages,deeds of trust,security deeds,security agreements,financing statements,continuation
<br /> statements, instruments of further assurance, certificates, and other documents as may, In the sole opinion of Lender, be
<br /> necessary or desirable in order to effectuate,complete,perfect,continue,or preserve (11 Grantor's obligations under the Note,
<br /> this Deed of Trust,and the Related Documents,and (21 the liens and security interests created by this Deed of Trust as first
<br /> and prior liens on the Property,whether now owned or hereafter acquired by Grantor. Unless prohibited by law or Lender agrees
<br /> to the contrary In writing, Grantor shall reimburse Lender for all costs and expenses incurred in connection with the matters
<br /> referred to in this paragraph.
<br /> Attorney-In-Fact. If Grantor fails to do any of the things referred to in the preceding paragraph,Lender may do so for and in the
<br /> name of Grantor and at Grantor's expense. For such purposes, Grantor hereby irrevocably appoints Lender as Grantor's
<br /> attorney-in-fact for the purpose of making,executing,delivering,filing,recording,and doing all other things as may be necessary
<br /> or desirable,in Lender's sole opinion,to accomplish the matters referred to in the preceding paragraph.
<br /> FULL PERFORMANCE. Upon the full performance of all the obligations under the Note and this Deed of Trust,Trustee may,upon
<br /> production of documents and fees as required under applicable law,release this Deed of Trust,and such release shall constitute a
<br /> release of the lien for all such additional sums and expenditures made pursuant to this Deed of Trust. Lender agrees to cooperate
<br /> with Grantor In obtaining such release and releasing the other collateral securing the Indebtedness. Any release fees required by law
<br /> shall be paid by Grantor,if permitted by applicable law.
<br /> EVENTS OF DEFAULT. Each of the following,at Lender's option,shall constitute an Event of Default under this Deed of Trust:
<br /> Payment Default. Grantor fails to make any payment when due under the Indebtedness.
<br /> Other Defaults. Grantor fails to comply with or to perform any other term,obligation,covenant or condition contained in this
<br /> Deed of Trust or in any of the Related Documents or to comply with or to perform any term,obligation, covenant or condition
<br /> contained in any other agreement between Lender and Grantor.
<br /> Compliance Default. Failure 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 /> Default on Other Payments. Failure of Grantor within the time required by this Deed of Trust to make any payment for taxes or
<br /> Insurance,or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> Default in Favor of Third Parties. Should Grantor 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 Grantor's
<br /> property or Grantor's ability to repay the Indebtedness or Grantor's ability to perform Grantor's obligations under this Deed of
<br /> Trust or any of the Related Documents.
<br /> False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf
<br /> under this Deed of Trust or the Related Documents is false or misleading in any material respect,either now or at the time made
<br /> or furnished or becomes false or misleading at any time thereafter.
<br /> Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(Including
<br /> failure of any collateral document to create a valid and perfected security interest or lien'at any time and for any reason.
<br /> Death or Insolvency. The dissolution of Grantor's(regardless of whether election to continue is medal,any member withdraws
<br /> from the limited liability company, or any other termination of Grantor's existence as a going business or the death of any
<br /> member,the insolvency of Grantor, the appointment of a receiver for any pert of Grantor's property, any assignment for the
<br /> benefit of creditors,any type of creditor workout,or the commencement of any proceeding under any bankruptcy or insolvency
<br /> laws by or against Grantor.
<br /> Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding,
<br /> self-help, repossession or any other method,by any creditor of Grantor or by any governmental agency against any property
<br /> securing the Indebtedness. This includes a garnishment of any of Grantor's accounts,including deposit accounts,with Lender.
<br /> However,this Event of Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of
<br /> the claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or
<br /> forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding,in an amount
<br /> determined by Lender,in its sole discretion,as being an adequate reserve or bond for the dispute.
<br /> Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is
<br /> not remedied within any grace period provided therein,Including without limitation any agreement concerning any indebtedness or
<br /> other obligation of Grantor 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
<br /> Guarantor dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br /> Indebtedness.
<br /> Adverse Change. A material adverse change occurs in Grantor's financial condition,or Lender believes the prospect of payment
<br /> or performance of the Indebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> Right to Cure. If any default,other than a default in payment,is curable and if Grantor has not been given a notice of a breach of
<br /> the same provision of this Deed of Trust within the preceding twelve(12)months,it may be cured if Grantor,after Lender sends
<br /> written notice to Grantor demanding cure of such default: (11 cures the default within twenty(20)days;or (21 if the cure
<br /> requires more than twenty(201 days,immediately initiates steps which Lender'deems in Lender's sole discretion to be sufficient
<br /> to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance
<br /> as soon as reasonably practical.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust,at any time thereafter.Trustee or
<br /> Lender may exercise any one or more of the following rights and remedies:
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