|
` DEED OF TRUST 2 p 12 0 2 6 3 9
<br />Loan No: 101251513 (Continued) Page 5
<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 mey at its election require thet all or any portion of the
<br />net proceeds of the awerd be epplied to the Indebtedness or the repair or restoretion of the Property. The net
<br />proceeds of the award shell mean the eward after payment of ell reasonable costs, expenses, and attorneys' fees
<br />incurred by Trustee or Lender in connection with the condemnetion.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating
<br />to governmental texes, fees and charges are e part of this Deed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in eddition to
<br />this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's Uen on
<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 wfthout limitation all taxas, fees,
<br />documentary stamps, and other charges for recording or registering this Deed of Trust.
<br />Taxes. The following shell constitute taxes to which this section epplies: (1) a specific tax upon this type of
<br />Deed of Trust or upon all or any pert 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 thfs type
<br />of Deed of Trust; (3) a tax 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 any portion of the Indebtedness or on payments of principal and interest made by
<br />Trustor.
<br />Subsequent Taues. If any tax to which this section applies is enacted subsequent to the date of this Deed of
<br />Trust, this event shall have the seme effect as an Event of Default, end Lender may exercise any or all of its
<br />available remedies for an Event of Defeult as provided below unless Trustor either (1) peys the tax before it
<br />becomes delinquent, or (2) contesta the tax as provfded above in the Taxes and Liens section and deposits with
<br />Lender cash or a sufficient corporate surety bond or other security setisfectory to Lender.
<br />SECURITY AGREEMENT; FINANCING 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 e Security Agreement to the extent any of the Property
<br />constitutes fixtures, and Lender shall heve 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 whatever ection is requested by Lender to perfect
<br />end 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 eny time and without further authorization from Trustor, file
<br />executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. Trustor shall
<br />reimburse Lender for all expenses incurred in pertecting or continuing this security interest. Upon defeult, Trustor
<br />shall not remove, sever or detach the Personel Property from the Property. Upon defeult, Trustor shall assemble
<br />any Personal Property not affixed to the Property in a manner and at a placa 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 addresses of Trustor (debtor) and Lender (secured perty) 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 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 eny 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, reflled, or rerecorded, as the case may be, at such times and in such offices
<br />end places as Lender may deem eppropriate, eny and ell such mortgages, deeds of trust, security deeds, security
<br />agreements, financing statements, continuation statements, instruments of further assurence, certificates, end
<br />other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuete, 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 end prior Ifens 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 paragraph.
<br />Attorney-in-Fact. If Trustor feils to do any of the things referred to in the preceding paragraph, Lender may do so
<br />for and in the name of Trustor end at Trustor's expense. For such purposes, Trustor hereby irrevocably eppoints
<br />Lender as Trustor's attorney-in-fact for the purpose of ineking, executing, delivering, filing, recording, and doing all
<br />other things as may be necessery or desirable, in Lender's sole opinion, to accompliah 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 all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and
<br />deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable statements of
<br />
|