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, DEED OF TRUST 2 012 0 7 3�t �
<br />Loan No: 137607 � (Continued) Page 4
<br />Applicatton of Net Proceeds. If all or eny 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 repair or restoration of the Property. The net
<br />proceeds of the award shall mean the award efter 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 relating
<br />to governmental taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Fees and Cherges. Upon request by Lender, Trustor shall execute such documents in addition to
<br />this Deed of Trust and teke 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 />documentery stamps, and other cherges 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 />Deed of Trust or upon all or eny part of the Indebtedness secured by this Deed of Trust; (2) a specific tex 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 tax on this type of Deed of Trust chargeable ageinst the Lender or the holder of the Note;
<br />and (4) a specific tax on ell or any portion of the Indebtedness or on payments of principal and interest made by
<br />Trustor.
<br />Subsequent 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, and Lender may exercise any or all of its
<br />available remedies for an Event of Default as provided below unless Trustor either (1) pays the tex 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 satisfactory 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 a 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 />es amended from time to time.
<br />Security Interest. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect
<br />end 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 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 />eny Personal Property not effixed to the Propeny in a manner and at a plece reasonably convenient to Trustor and
<br />Lender and make it availeble to Lender within three (3) deys after receipt of written demand ftom Lender to the
<br />extent permitted by appliceble 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 as required by the Uniform
<br />Commercial Code) are as steted 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-fect are a part of ihis Deed of Trust:
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will meke, execute and
<br />deliver, or will cause to be mede, executed or deUvered, to Lender or to Lender's designee, and when requested by
<br />Lender, cause to be filed, recorded, refiled, or rerecorded, as the case mey be, at such times end in such offices
<br />and places as Lender mey deem appropriate, eny and all such mortgages, deeds of trust, security deeds, security
<br />agreements, financing statements, continuation statements, instruments of further assurence, 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 (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 and prior liens 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 />Attorney-in-Fect. 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 end at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints
<br />Lender as Trustor's attorney-in-fact for the purpose of making, executing, delivering, filing, recording, and doing 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 Trustor pays ell the Indebtedness, including without limitation all future advances, when due,
<br />and otherwise pertorms 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 />terminetion of eny financing statement on file evidencing Lender's security interest in the Rents end the Personel
<br />Property. Any reconveyance fee required by law shall be peid by Trustor, if permitted by applicable law.
<br />EVENTS OF DEFAULT. Each of the followfng, at Lender's option, shall constitute an Event of Default under this Deed
<br />of Trust:
<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
<br />Other Defaults. Trustor fails to comply with or to perform any other term, obligation, covenant or condition
<br />contained in this Deed of Trust or in any of the Related Documents or to comply with or ta perform any term,
<br />obligation, covenant or condition conteined in any other egreement between Lender and Trustor.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition conta(ned in this
<br />Deed of Trust, the Note or in any of the Related Documents.
<br />Defauit on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment
<br />for texes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any Iien.
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on
<br />Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect,
<br />either now or at the time made or furnished or becomes false or misleading at any time thereafter.
<br />Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and
<br />effect (including failure of any collateral document to create a valid and perfected aecurity interest or lien) at any
<br />time end for any reason.
<br />Death or Insolvency. The death of Trustor, the insolvency of Trustor, the appointment of a receiver for any part of
<br />Trustor's property, any assignment for the benefit of creditors, any type of creditor workout, or the
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