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201207740
<br /> DEED OF TRllST
<br /> Loan No: 81001 948 (COntanued) Page 4
<br /> participaiion.
<br /> Application of Net Proceeds. If aIl 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 ofi the
<br /> net proceeds of the award be applied to the Indebtedness or the repair or restotation of tNe Property. The net
<br /> proceeds of tne award shall mean the award after 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 Charges. Upon request by Lender, Trustor snall execute such documents in additio��n 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 fior all taxes, as described below, together with all expenses
<br /> incurred in recording, perfecting or continuing this Deed of TrusY, including without Iimitation aIl taxes, fees,
<br /> documentary stamps, and other charges for recording or registering this Deed ofi Trus't.
<br /> Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of
<br /> Deed ofi Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2) a speciflc tax on
<br /> Trustor which Trusto.r is authorized or required.to deduct from payments on the Indebtedness secu�ed by this type
<br /> of Deed of Trust; (3) a tax on tnis type of Deed ofi Trust chargeable aga�.inst the Lender or the holder of the Note;
<br /> and (4) a specific tax on aIl or any portion of the Indebtedness or on payments of principal and interest made by
<br /> Trustor.
<br /> Subsequert 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 Defiault, and Lender may exercise any or all of its
<br /> available remedies fo� 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 suffi�cient corporate surety bond or other security satisfactory to Lender.
<br /> SECLLRITY 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 extenY any ofi the Property
<br /> constitutes fixtuPes, and Lender shall have all.of the rights ofi a secured party under the Uniform Commero�ial Code
<br /> as amended from time to time.
<br /> Security InteresY. Upon request by Lender, Trustor snall take whatever action is requested by Lender to perfect
<br /> and continue LendePs security interest in the RenYs and Personal Property. In addition to recording this Deed of
<br /> Trust in tF�e real property records, Lender may, at any 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 fior all expenses incurred in perfecting or continuing this security interest. Upon default,Trustor
<br /> shall not remove, sever or detach tne Personal Property from the Property. Upon default, Trustor shall assemble
<br /> any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor and
<br /> � Lender and make iY available to Lender within three (3) days after recei:pt of written tlemand from Lender to tne
<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 fiirst page of this Deed of Trust..
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following pYovisions relating to further assurances and
<br /> attomey-in-fiact are a part of tnis Deed of Trust:
<br /> Further Assurences. 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 fiiled, recorded, refiled, or rerecorded, as the case may be, at such times and in such offices
<br /> and places as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security
<br /> agreements, financing statements, continuation statements, instruments of further assurance, certificates, and
<br /> otner 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 on the Property, whether now
<br /> owned or hereafter acquired by Trustor_ Unless prohibited by law or Lender agrees to the contrary in writing,
<br /> Trustor shall.reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this
<br /> paragraph.
<br /> Attorney-in-Fact. Ifi 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 expense. For such purposes, Trustot hereby irre�ocably appoints
<br /> Lender as Trustor's attorney-in-fact for the pu�pose of making, executing, delivering,filing,recording, and doing all
<br /> other things as may be necessary or desirable, in Lender's sole opinion, to accompl'ish the matters referred to in
<br /> the preceding paragraph.
<br /> FUiL PERFORMANCE. If Trustor pays all the Indebiedness:, i�ncluding witnout 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 antl deliver to Trustor suitable statemenis of
<br /> termination of any financing statement on fiie evidencing Lender's security interest in the Rents and the Personal
<br /> P�ope:rty. Any reconveyance fee required by law shall be paid by Trustor, if permitted by applicable law.
<br /> EVENTS OF DEFAULT:� Each of the following, 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 perfiorm any other term, obligation, covenant or condition
<br /> contained in ihis Deed of Trust or in any of the Related Documents or to comply with or to perform any term.,
<br /> obligation, covenant or condition contained in any other agreement between Lender and Trustor.
<br /> Compliance DefaulY.. Failure to comply with any other term, obligation, covenant or condition contained in this
<br /> Deed of Trust,the Note or in any of the Related Documents.
<br /> Default on Other Payments_ Failure of Trustor within the time required by this Deed of Trust to make any payment
<br /> for taxes or insu�ance,or any other paymenY necessary to prevent filing of or to effect discharge of any lien�.
<br /> Default in Favor of Third Parties. Should Grantor defaulY under any loan, extension of credit, security agreement,
<br /> purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially
<br /> afifect any of Grantor's property or Grantor's ability to repay the Indebtedness or Grantot's ability to perform
<br /> Grantor's obligations under this Deed of Trust or any of the Related Documents.
<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 fumished or becomes false or misleading at any time thereafter.
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