|
;� . .� �;s,,
<br />� DEED OF TRUST
<br />Loan No: 101249944 (Continued)
<br />�0120213�
<br />Page 5
<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by
<br />eny proceeding or purchase in lieu of condemnation, Lender may at its election 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 net
<br />proceeds of the award shatl mean the award after payment of all reasonable costs, expenses, and attorneys' feea
<br />incurred by Trustee or Lender in connection with the condemnetion.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY QOVERNMENTAL AUTHORITIES. The following provisions releting
<br />to governmental taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Fees end Charges. Upon request by Lender, Trustor shall execute such documents in addition to
<br />this Deed of Trust end take whatever other action is requested by Lender to perfect end continue Lender's lien on
<br />the Real Property. Trustor shall reimburse Lendar for all taxes, es described below, together with all expenses
<br />lncurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees,
<br />documentary stamps, end other charges for recording or �egistering this Deed of Trust.
<br />Taues. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of
<br />Deed of Trust or upon all or any part of the Indebtedness secured by 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 />of Deed of Trust; (3) e tex on this type of Deed of Trust chargeable against the Lender or the holder of the Note;
<br />and (4) a specific tax on all or eny portion of the Indebtedness or on payments of principal and interest made by
<br />Trustor.
<br />Subsequerrt Taxes. If eny 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, end Lender may exercise eny or ell of its
<br />eveilable remedies for an Event of Default as provided below unless Trustor either (7) pays the tax before it
<br />becomes delinquent, or (2) contests the tax as provided above in the Taxes and Uens section and deposits with
<br />Lender cesh or e sufficient corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCINQ STATEMENTS. The following provisions releting to this Deed of Trust as e
<br />security egreement are e part of this Deed of Trust:
<br />Security Agreement. This instrument shall constitute a Security Agreement to the entent eny of the Property
<br />constitutes fixtures, end Lender shall have all of the rights of a secured party under the Uniform Commercial Code
<br />es amended from time to time.
<br />Security Interest. Upon request by Lender, Trustor shell take whatever action is requested by Lender to perfect
<br />and continue Lender's security interest in the Rents and Personal Property. In eddition to recording this Deed of
<br />Trust in the real property records, Lender may, at any time and without further euthorizetion from Trustor, file
<br />executed counterperts, copies or reproductions of this Deed of Trust es a financing statement. Trustor shall
<br />reimburae 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 shall essemble
<br />any Personal Property not affixed to the Properry in a manner and et a plece reasonably convenient to Trustor and
<br />Lender and make it available to Lender within three (3) days after receipt of written demand from Lender to the
<br />extent permitted by applicable law.
<br />Addresses. The mailing eddresses of Trustor (debtorl and Lender (secured party) from which information
<br />concerning the security interest granted by this Deed of Trust mey be obtained (each as required by the Uniform
<br />Commercial Code) are as stated on the firat page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions releting to further assurances and
<br />attorney-in-fact are a part of this Deed of Trust:
<br />Further Assurances. At any time, end from time to time, upon request of Lender, Trustor will make, execute end
<br />deliver, or will ceuse to be made, executed or delivered, to Lender or to Lender's designee, and when requested by
<br />Lender, cause to be ffled, recorded, refiled, or rerecorded, as the cese may be, at such times and in such offices
<br />and pleces as Lender may deem appropriete, eny and all such mortgages, deeds of trust, security deeds, security
<br />agreements, financing statements, continuation statements, instruments of further assurance, certificates, end
<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 obligations under the Note, this Deed of Trust, end the Releted
<br />Documents, and (2) the liens and security interests created by this Deed of Trust es first and prior Ifens on the
<br />Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the
<br />contrary in writing, Trustor shell reimburse Lender for all costs and expenses incurred in connection with the
<br />matters referred to in this paragraph.
<br />Attomey-in-Fact. If Trustor feils to do any of the things referred to in the preceding paragraph, Lender may do so
<br />for end in the name of Trustor end at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints
<br />Lender ss Trustor's attorney-in-fact for the purpose of making, executing, delivering, fiUng, recording, end doing all
<br />other things es mey be necessary or desireble, in Lender's sole opinion, to accomplish the matters referred to in
<br />the preceding peregraph.
<br />FULL PERFORMANCE. If Trustor pays all tha Indebtedness, including without flmitation ell future edvances, when due,
<br />end otherwise performs ell the obUgations imposed upon Trustor under this Deed of Trust, Lender shall execute and
<br />deliver to Trustee a request for full reconveyence and shell execute end deliver to Trustor suitable stetements of
<br />
|