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201109475
<br /> DEED OF TRUST
<br /> Loan No: 810287 (Con$itlued) Page 4
<br /> � participation.
<br /> Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by
<br /> any proceeding or purchase in lieu of condemnation,Lender may at its electiori require that all or any portion of the
<br /> net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The nei
<br /> proceeds of the award shall mean the awatd after payment of all reasonable cosYS,expenses,and attorneys'fees
<br /> incurred by Trustee or Lender in connection with the condemnation.
<br /> IMPOSITION OF TAXES;FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating
<br /> to govemmental taxes,fees and charges are a part of this Deed of Trust.
<br /> Current Taxes,Fees and Charges. Upon requzst by Lender,Trustor shaii execu#e such documents in addition to
<br /> this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender`s lien nn
<br /> the Real Property. Trustor shall reimburse Lender for all taxes, as described below, together with all expenses
<br /> incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees,
<br /> documentary stamps,and other charges for recording or registering this Deed of Trust.
<br /> Taxes. The following shall consiitute taxes to which this section applies: (11 a specific tax upon this type of
<br /> Deed of Trust or upon all or any part of the Indebtedness secured 6y this Deed of Trust; (2) a specific tax on
<br /> Trustor which Trustor is authorized or required to deduct from payments on the Indebtedness secured by this type
<br /> ofi DOed of Trust; (3) a tau on this type of Deed of Trusi chargeable against the Lender or the holder of the Note;
<br /> . and (41 a specific taz on all or any portion of the Indebtedness or on payments of principal and interest made by
<br /> Trustor.
<br /> Subsequent Taxes. If any tax to which this secfion applies is enacted svbsequent to the date of this Deed of
<br /> Trust, this eveM shall have the same effect as an Event of Default, and Lentler may exercise any or all of its
<br /> available remedies for an Event of Default as provided below unless Trustor either f1) pays the t�before it
<br /> becomes delinquent,or f2) contests the tax as provided above in the Taxes and Liens section and deposits with
<br /> Lender cash or a sufficient corporate surety bond or other security satisfacmry to Lender.
<br /> SECURITY AGREEMENT; FINANGING STATEMENTS. The following provisions relating to this Deed of Trust as a
<br /> security agreement are a part of this Deed of Trust: ,
<br /> Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property
<br /> constitutes fixtures,and Lender shall have all of the rights of a secured party under the Uniform Commercial Code
<br /> as amended from time to time.
<br /> Security Interest. Upon request by Lender, Trustor shall take wha[ever aetion is requested by Lender to perfect
<br /> and continue Lender's security interest in the Rents and Personal Property, In addition to recording this Deed of
<br /> Trust in the real property records, Lender may, at any time and without further authorization from Trustor, file
<br /> executed counterparts, copies or reproductions of this Deed of Trust as a financing sYatement. Trustor shall
<br /> reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon default,Trustor
<br /> shall not remove,sever or detach the Personal Property from the Property. Upon default,Trustor shail assemble
<br /> any Personal Property not:affixed to the Property in a manner and at a piace reasonably convenient to Trustor and
<br /> Lender and make it availa6le to Lender within three (3) days after receipt ot written demand from Lender to the
<br /> extent permitted by applicable law.
<br /> Addresses. The mailing atldresses of Trustor (debtor) a�d Lender (secured party) fro�m which information
<br /> concerning the securiYy interest granted by this Deed of Trust may be obtained (each as required by the Uniform
<br /> � Commercial Code}are as stated on the first page of this Deed of Trust.
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and
<br /> attorney-in-fact are a part of this Deed of Trust -
<br /> Further Assurances. At any time,and from time to time,upon request of Lender,Trustor will mal<e,ezecute and
<br /> deliver,or will cause to be made,executed or delivered,to Lender or to Lender's designee,and when requested by
<br /> Lender, cause to be filetl, recorded,refiled,or rerecorded,as the case may be,at such times and in such offices
<br /> and places as Lender may deem appropriate,any and all such mortgages,deeds of trust,security deeds,security
<br /> agreements, financing�statements, continuation statements, instruments of further assurence, certificates, a�d
<br /> other documents as may,in the sole opinion of Lender,be necessary or desiratrle in order to effecYUate,complete,
<br /> perfect, continue, or Preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Related
<br /> Documents,and (2) the liens and security interests created by this Deed of Trust as first and prior liens on the
<br /> Property,wNether now owned or hereafter acquiredby Trustor. Unless prohihited by law or Lender agrees to the
<br /> contrary in writi.ng, Trustor shall reimburse Lender for ail costs and expenses incurred in connecfion with the
<br /> matters referred to in this paragraph.
<br /> Attomey-in-Fact. If Trustor fails to do any of the things referred to in the preceding paragraph,Lender may do so
<br /> for and in the name of Trustor and ai Trustor's expense. For such purposes,Trustor hereby irrevocably appoints
<br /> Lender as Trustor's attorney-in-fact for the purpose of making,executing,delivering,filing,recording,and doing all
<br /> other things as may be necessary or desirable, in Lender's sole opinion,to accomplish the matters referred io in
<br /> the preceding paragraph.
<br /> FULL PEiiFORMANCE. If Trustor pays all the Indebtedness,including without limitation all future advances,whe�due, �
<br /> � and otherwise performs all the o6ligations imposed upon Trustor under this Deed of Trust, Lender shall execute and
<br /> deliver to Trustee a tequest for full reconveyance 2nd shail execute and deliver to Teusior suitable statements of
<br /> termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal
<br /> Property. Any reconveyance fee required by law shall be paid by Trustor,if permitted by applkable law.
<br /> EVENTS OF DEFAULT. Each of the following,at Lender's option,shafl constitute an Event of Default u�der this Deed
<br /> of Trust:
<br /> Payment Default: Trustor fails to make any payment when due under the Indebtedness.
<br /> Other Defaults. Trustor fails to comply with or to perform any other term, obligation, covenant or condition
<br /> contained in this Deed of Trust or in any ofi the Related Documents or to compiy with or to perform any term,
<br /> obligation,covenant or condition contained in any other agreement between Lender and Trustor.
<br /> Compliance Default. Failure to wmply with any other term,obligation, covenant or condition contained in this
<br /> Deed of Trust,the Note or in a�y of Yhe Related Documents. �
<br /> Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment
<br /> for taxes or insurance,or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> Defau{t in Favor of Third Parties. Should Grantor default under any loan,extension of credit,security agreement,
<br /> purchase or sales agreement,or any other agreement,in fiavor of any other creditor or person that may materially
<br /> affect any of Grentor's pro.perty or Grantor's ability to repay the Indebtedness or Grantor's abiGty to perform
<br /> Grantor's obligations under this Deed of Trust or any of the Related DocumeMs.
<br /> False Statements. Any warranty, representation or statement made or furnished to Lender 6y Trustor or on
<br /> Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, �
<br /> either now or at the time made or fiurnished or becomes false or misleading at any time thereafter.
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