|
Loan No: 101247796
<br />DEED OF TRUST � �
<br />(Continued) 2 01 � 0 01 3� Page 5
<br />of Deed of Trust; (3) a tax on this type of Deed of Trust chergeable egeinst the Lender or the holder of the Note;
<br />and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by
<br />Trustor.
<br />Subsequent Taxes. If any tex to which this section applies is enacted subsequent to the date of this Deed of
<br />Trust, this event shall have the same effect as an Event of Default, and Lender may exercise any or all of its
<br />aveilable remedies for an Event of Default as provided below unless Trustor either (1) pays the tax before it
<br />becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens section and daposits with
<br />Lender cash or a sufficient corporate surety bond or other security setisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a
<br />security agreement are e part of this Deed of Trust:
<br />Sacurity 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 perty under the Uniform Commercial Code
<br />as amended from time to time.
<br />Security Interest. Upon request by Lender, Trustor shall take whatever action 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 counterperts, copies or reproductions of this Deed of Trust es a finencing stetement. 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 Personel Property from the Property. Upon default, Trustor shall assemble
<br />any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor and
<br />Lender and make it eveilable to Lender within three (3) days after receipt of written demand from Lender to the
<br />extent permitted by applicable lew.
<br />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information
<br />concerning the security interest granted by this Deed of Trust may be obtained (each es required by the Uniform
<br />Commercial Code) are as stated on the first pege 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 make, execute 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 filed, recorded, refiled, or rerecorded, as the case mey 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 stetements, instruments of further assurence, certificetes, and
<br />other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete,
<br />perfect, continue, or preserve (1) Trustor's obligatlons under the Note, this Deed of Trust, and the Related
<br />Documents, and l2) the liens and security interests created by this Deed of Trust as first and prior liens on the
<br />Property, whether now owned or hereafter ecquired by Trustor. Unless prohibited by law or Lender agrees to the
<br />contrary in writing, Trustor shall reimburse Lender for all costs and expenses incurred in connection with the
<br />matters referred to in this peragraph.
<br />Attorney-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 at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints
<br />Lender as Trustor's attorney-in-fect for the purpose of making, executing, deUvering, filing, recording, and doing all
<br />other things as may be necessary or desirable, in Lender's sole opinion, to accomplish the matters referred to in
<br />the preceding paragraph.
<br />FULL PERFORMANCE. If Trustor pays all the Indebtedness, including without limitation all future advances, when due,
<br />and otherwise performs ell the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute end
<br />deliver to Trustee s request for full reconveyance and shall execute and deliver to Trustor suitable statements of
<br />termination of any finencing statement on file evidencing Lender's security interest in the Rents and the Personal
<br />Property. Any reconveyance fee required by lew shall be peid by Trustor, if permitted by appliceble law.
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under 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 of the Related Documents or to comply with or to pertorm any term,
<br />obligation, covenent or condition contained in any other agreement between Lender and Trustor.
<br />Compliance Defeult. Failure to comply with any other term, obligation, covenant or condition contained in this
<br />Deed of Trust, the Note or in any of the 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 />False Statements. Any werranty, representetion or stetement made or furnished to Lender by Trustor or on
<br />
|