Laserfiche WebLink
DEED OF TRUST 2 � 12 0 5 3 2 � <br />Loan No: 101254117 (Continued) Page 5 <br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are e pert of this Deed of Trust: <br />6cisting Lien. The lien of this Deed of Trust securing the Indebtedness may be secondery and inferior to an <br />existing lien. Trustor expressly covenents and agrees to pay, or see to the peyment of, the Existing Indebtedness <br />and to prevent any defeult on such indebtedness, any default under the instruments evidencing such indebtedness, <br />or any default under any security documents for such indebtedness. <br />No Modiflcation. Trustor shell not enter into any agreement with the holder of any mortgage, deed of trust, or <br />other security agreement which has priority over this Deed of Trust by which that agreement is modified, <br />emended, extended, or renewed without the prior written consent of Lender. Trustor shall neither request nor <br />accept any future advences under any such security agreement without the prior written consent of Lender. <br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust: <br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writfng, and <br />Trustor shall promptly take such steps as may be necessary to defend the ection end obtain the award. Trustor <br />may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding end to be <br />represented in the proceeding by counsel of its own choice, and Trustor will deliver or cause to be delivered to <br />Lender such instruments and documentation as may be requested by Lender from time to time to permit such <br />participetion. <br />Appllcation of Net Proceeds. If all or any pert of the Property is condemned by eminent domain proceedfngs or by <br />any proceeding or purchase in lieu of condemnation, Lender may et 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 Proparty. The net <br />proceeds of the award shall mean the award after peyment of ell reasonable costs, 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 governmental taxes, fees and charges ere a part of this Deed of Trust: <br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute 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 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 without limitation all taxes, fees, <br />documentary stamps, end other charges for recording or registering this Deed of Trust. <br />Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon thia type of <br />Deed of Trust or upon all or any part af the Indebtedness secured by this Deed of Trust; (2) a speciffc tax on <br />Borrower which Borrower is authorized or required to deduct from payments on the Indebtedness secured by this <br />type of Deed of Trust; (3) a tax on this type of Deed of Trust chargeable egainst the Lender or the holder of the <br />Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal end interest <br />mede by Borrower. <br />Subsequent Taxes. If any tax to which this section applies is enactad subsequent to the date of this Deed of <br />Trust, this event shall heve the same effect as an Event of Default, end Lender may exercise eny or all of its <br />availeble remedies for en Event of Default as provided below unless Trustor either (1) peys the tax before it <br />becomes delinquent, or (2) 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 satisfectory to Lender. <br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a <br />security agreement are a pert of this Deed of Trust: <br />Secur(ty Agreement. This instrument shall constitute a Security Agreement to the extent eny 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 shell 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 as a financing statement. 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 shell assemble <br />any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor end <br />Lender and meke it available to Lender within three (3) days after receipt of written demend from Lender to the <br />extent permitted by applicable law. <br />Addresses. The mailfng addresses of Truator (debtor) end Lender (secured party) from which informetion <br />concerning the security 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 assurences and <br />attorney-in-fact are e pert 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 />