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201206676
<br /> DEED OF TRUST
<br /> Loan No: 872056171 (Conttnued) Page 4
<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 thaY all o�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 shall mean the award afYer payment of all 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 relaiing
<br /> to governmental taxes,fees and charges are a part of this Deed of Trust:
<br /> Current Ta�ces, Fees and Charges. Upon request by Lendet, 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 sFi.all 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 aGl 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 specifiic tax upon this type of
<br /> Deed of Trust or upon a❑ or any part of the Indebtedness secured by this Deed ofi Trust; (2) a specific 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 ofi 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 /> inierest matle by Borrower.
<br /> Subsequent Taxes. If any tax to which this seciion 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 /> available remedies for an Event of Defauit as provided below unless Trustor either (1) pays the tax before it
<br /> becomes delinquent, or (2) contests the tax as provitled above in the Taxes and Liens section and deposits with
<br /> Lender cash or a sufficient corporate surety bond or other security satisfiactory to Lender.
<br /> SECURITY AGREEMENTt FINANCWG STATEMENT$. The following provisions relating to this Deed of Trust as a
<br /> security agreement are a part of this Deed of TrusY:
<br /> Security Agreement. This instrument shall co�nstitute a Security Agreement to the extent any of the Property
<br /> constitutes fixtures, and Lender snall have all�of Yhe rights of a secured party under the Un�iform 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 Personaf Property. In addition to recording this Deed of Trust in the
<br /> real property records, Lender may, at any time and without further authorization from Trustor, fi�le executed
<br /> counterparts, co.pies or rep�oductions of this Deed of Trust as 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 Prope�ty from the Property. Upon defiault, Trustor shall assemble any
<br /> Personal P�operty not affixed to the Prope�ty in a manner and at a place 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 TrusYor (debtor) and Lender (secured party) from which information
<br /> concerning the securitq interest granted by this Deed of T�ust 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 relati:ng to fiurther assurances and
<br /> atto�ney-in-fact are a pari 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 clelivered,to Lender or to LendeYs designee,and when requested by
<br /> Lender, cause to be filed, recorded, refiled, or rerecorded, as the case may be; at such times and in such offices
<br /> and pFaces as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security
<br /> agreements, fiinancing statements, continuation statements, instruments of fiurther assurance, certificates, 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 ('I) Borrower's and Trustor's obligations under the Credit Agreement, this Deed of
<br /> Trust, and the Related Documents, and (2? the 4iens and security inierests created by this Deed of Trust on the
<br /> Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lend:er agrees to the
<br /> contrery in writing, Trustor shall reimburse Lender for all costs and expenses incurred i.n connection with the
<br /> matters referred to in this paragraph.
<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 fhe name of Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints
<br /> Lender as Trustor's attomey-in-fact fo�tne purpose of making, executing, delivering,filing, recording, and doing all
<br /> other things as may be necessary or desirable, in Lender's sole opirtion, 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 crediY line account,
<br /> and Trustor otherwise performs all ttie obligations imposed upon Trustor under this D.eed of Trust, Lender shall execute
<br /> and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suiiable statemenTs of
<br /> termination of any financing 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 Trustor, if permitted 6y applicable law.
<br /> EVENTS OF DEFAULT. Trustor will be in default under this Deed ofi 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 fialse statement about Borrower's o�Trustor's incorne, assets, liabilities, o�any other aspects of
<br /> Borrower's or Trustor's financial condition. (B) Borrower does noi meet the repayment terms of the Credit Agreement.
<br /> (C) Trustor's action or inaction adversely affects the collateral or Lender's rights in the collateral. This can include, for
<br /> example, failure to maintain required insurance,waste or desiructive use of the dwelling, failure to pay taxes, death of
<br /> all persons Tiable o�n the account, transfer of Yitle or sale of the tlwetling, creation of a senior lien on the dwelling
<br /> withovt Lender"s permission,foreclosure by the holder ofi another lien, or the use of funds or the dweqing for p��rohibited
<br /> purposes. �
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter,
<br /> Trustee or Lender may exercise any one or more of the following rignts and remedies:
<br /> Acceleration Upon Defiault;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 tnereupon 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 ageM, with or without bringing any action or proceeding, o� by a receiver
<br /> appointed by a court and wiihout tegard to the adequacy of its security, enter upon and take possession
<br /> of the Property,or any part thereof, in its own name or in the name of Trustee, and do any acts which it
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