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201206278
<br /> DEED OF TRUST
<br /> Loan No: 872058675 (COntinUed) Page 4
<br /> Lender such instruments and documentation as may be requested 6y Lender from time to time to permit such
<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 election require that all or any portion of the
<br /> net proceeds of the award be applied to the Indebtedness or the repai.r or restoration of the Properiy. The net
<br /> proceeds of the award shall mean the award after payment of all reasonable cosYs,expenses,and attorneys'fees
<br /> incurretl 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 are 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 ail expe�ses
<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 constitute taxes to which this section applies: (1) a specific tax upon this type of
<br /> Deetl of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2} a specific tax on
<br /> Borrower wtiich 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 against the Lender or the holder of the
<br /> Credit Agreement;and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and
<br /> interest made by Borrower.
<br /> Subsequeni Taxes. 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 same effect as an Event of Default, anii Lender may exercise any ot all of its
<br /> . available 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 deposits with
<br /> Lender cash or a sufficient corporete surety bond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a
<br /> securiry ag�eement 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 /> arnstitutes 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 whatever acteon is requested by Lender to perfect
<br /> and continue Lender's security interest in the Personal Property. In addition to recording this Deed oi Trust in the
<br /> real property records, Lender may, at any time and without further authorization from Trustor, file executed
<br /> counterparts, copies or reproductions of this Deed of Trust 2s a financing statement. Trustor shall reimburse
<br /> Lender for all expenses incurred in perfecting or continuing this security interest. Upon default,Trustor shall not
<br /> remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble any
<br /> Personal Property not affixed to the Property in a manner and at a place reasonably convenient to TrusYor 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 party) from which information
<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 /> Fl1RTHER 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 rereeorded,as the case may be, at such times and in such offices
<br /> and places as Lentler may deem appropriate,any and all such mortgages,deeds of trusi,security deeds,security
<br /> agreements, financing statements, continuation statements, instruments of further assurance, certificates, and
<br /> other documems as may,in the sole opinion of Lender,be necessary or desirable in order to effectuate,comp:lete,
<br /> perfect,continue,or preserve (1) Borrower's and Trustor's o6ligations under the Credit Agreement,this Deed of
<br /> Trust,and the Related Documents,and (2) the liens and security interests ceeated by this Deed of Trust 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 shall 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 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 eicpense. For such purposes,Trustor hereby irrevocably appoints .
<br /> Lender as TrustoPs attorney-in-fact for the purpose of making,executing,delivering,filing,recording,and tloing 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 Borrower and Trustor pay all the Indebtedness when due,terminates the credit line account,
<br /> and Trustor otherwise performs all the obligations imposed upon Trustor under this Deed of Trust,Lender shall execute
<br /> and deliver to Trustee a request for full reconueyance and shall execute and deliver to Trustor suitable statements of
<br /> termination of any fioancing 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 Tr�stor,if petmitted by applicable law.
<br /> EVENTS OF DEFAULT. Trustor will be in default under this Deed of Trust if any of the following happen: (A) Trustor
<br /> commits fraud or makes a material misrepresentation at any time in connection with the Credit Agreement This can
<br /> include,for example,a false statement about 8orrower's or Trustor's income,assets,Iiabilities,or any other aspects of
<br /> Borrower`s or Trustor's financial condition. (B) Borrower does not meet the repayment terms of the Credit Agreement.
<br /> . (C) Trustor's action or inaction adversely affects the collaterel or Lender's rights in the collateral. This can include,for
<br /> example,failure to maintain required insurance,waste or destructive use of the dwelling,failure to pay taxes, death of
<br /> all persons liable on the account, transfer of title or sale of the dwelling, creation of a senior lien on the dwelling
<br /> wiihout Lender's permission,foreclosure by the holder of another lien,or the use of funds or the dwelling for prohibited
<br /> purposes.
<br /> ftIGHTS AND REMEDIES ON DEFAULT. If an Event of Defauit occurs under this�eed of Trust;at any time thereafter,
<br /> Trustee or Lender may exercise any one or more of the following rights and remedies:
<br /> Acceleration Upon Default;Additional Remedies. If any Event of Default occurs as per the terms of the Credit
<br /> � Agreement secured hereby,Lender may declare all Indebtedness secured by this Deed of Trust to be due and
<br /> payable and the same shall thereupon become due and payable without any presentment,demand,protest or
<br /> notice of any kind. Thereafter,Lender may:
<br /> (a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver
<br /> appointed by a court and without regard to the adequacy of its security,enter upon and take possession
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