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201208230
<br /> DEED OF TRUS-f
<br /> Loan IVo: 810228 (Contiroued) Page 4
<br /> Application of Net Proceeds_ if all or any part of the Property is condemned by eminent domain proce:edings or by
<br /> any proceeding or purchase in lieu of co.ndemnation, Lender may at its election require that all or any portion of the
<br /> net proceeds of tne award be applied to the Indebiedness or the repair or restoration of the� Property. The net
<br /> proceeds of the 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 co�ndemnation.
<br /> IMPOSITION OF TAXES. FEES AND CHARGfS BY GOVERNMENTAL AUTHORITIES. The foltowing provisions relaYing
<br /> to governmentai taxes, fees and charges are a part of ihis 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 wnatever other action is requested by Lender to perfect and continue Lender's tien on
<br /> the Real Property. Trustor shafl reimburse Lender for ail taxes, as described below, together with all expenses
<br /> incurred in recordi.ng, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees,
<br /> documentary stamps, and otner charges for record:ing or registering this Deed of Trust.
<br /> Taxes. The following shall constitute taxes to which ihis secti�on appliex (1) a specific tax upon this type of
<br /> Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific t� 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 against the Lender or The holder of the
<br /> Note; and (4) a specific tax on all or any portion ofi the Indebtedness or on payments of principal and interest
<br /> made by Borrower.
<br /> Subsequeret Taxes. If any tax to which this section applies is enacted subsequent to the daYe of this Deed of
<br /> Trust, this event shall have the same effect as an Event of Default, and Lender may exercise any or aii 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 corporate surety bond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT; FiNANCtI�lG STATEMENTS. The followi�ng provisions re:lating 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 ofi the Proper[y
<br /> constitutes#ixtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code
<br /> as a�mended from time to time.
<br /> Security Interest. Upon request by Lender, Trustor sha❑ take whatever acYion is requested by Lender to perfect
<br /> and continue Lender's security interest in the Rents and Personal Property. In atl.dition to recording this Deed of
<br /> Trust in the real property records, Lender may, at any time and without further authorization firom Trustor, file
<br /> executed counterparts, copies or �eproducti.ons of this Deed of Trust as a fiinancing statement. Trustor shall
<br /> reimburse Lender for all expenses incurred in perfecting or continuing this security interest. U�pon default, Trustor
<br /> shaii not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble
<br /> any Personal Property not affixed to the Property in a man:ner and at a piace reasonably convenient to Trustor and
<br /> Lender and make it available to Lender within three (3) days after rece�ipt of written demand from Lender to the
<br /> extent permitted by applicabie 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 requi:red by the Uniform
<br /> Commercial Code) are as stated on the first page of ihis Deed of Trust.
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relati.ng to further assurances and
<br /> attorney-in-fact are a part of this Deed of Trust:
<br /> �urther Assurances_ At any time, and firom time to time, upon request of Lender, Trustor will malce, 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 rerecorded, as the case may be, at such times and in such offices
<br /> and pla:ces 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, certificaies, 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) Borrower's and Trustor's obligations under the Note, this Deed of Trust, and
<br /> the Related Documents, and (2) the liens and security interests created by this Deed of Trust as first and prior
<br /> liens on the Property, whether now owned or hereafter acquired by Trustor. Untess prohibited by law or Lender
<br /> agrees to the contrary in writing, Trustor shali reimburse Lender for ail costs and expenses incurred in conneciion
<br /> with the matters referred to i�n this parag:raph.
<br /> Attorney-in-Fact. If Trustor fails to do any of the thi:ngs 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, Trustor hereby irrevocably appoints
<br /> Lender as Trustor's attomey-in-fiact fior the purpose ofi making, executing, delivering, filing, recording, and doing all
<br /> other things as may be necessary or desirable, in Lender's sole opin�ion, to accomplish the matters referred to in
<br /> the preceding paragraph.
<br /> FULL PERFORMANCE. If Borrower and Trustor pay all the Indebtedness, including without lim�itation all futu�e
<br /> advances, when due, and Trustor otherwise performs all the obligations imposed upon Trustor under this Deed of Trust,
<br /> Lender shall execute and deliver to Trustee a request for full reconveyance and snall execute and deliver to Trustor
<br /> suitabte statements of termin�ation�of any financing statement on file evidencing Lender's securiYy interest in tne Rents
<br /> and the Personai Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted. by applicable
<br /> 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. Borrower fails to make any payment when due under the Indebtedness.
<br /> Other Defaults. Borrower or Trustor fiails to comply with or to perform any other term, obligation, covenant or
<br /> condition contained in this Deed ofi Trust or in any ofi the Related Documents or to comply with or to perform any
<br /> 2erm, obligation,covenant or condition contained in any oiher agreement between Lender and Borrower or Trustor.
<br /> Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this
<br /> Dee�d of Trust,the Note or in any of the Related Documents.
<br /> Default on Other Payments. Fai.lure ofi Trustor within the time required by this Deed of Trust to make any payment
<br /> for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit,
<br /> security agreement, purchase or sales agreement, or any other agre.ement, in�favor of any other creditor o:r person
<br /> that may materially afifect any of Borrower's or any G�rantor's property or Borrower's ability to repay the
<br /> Indebtedness or Borrower's or Grantor's ability to perform their respective obiigations under this Deed of Trust or
<br /> any of the Related Documents�.
<br /> False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Trustor
<br /> or on Borrower's or Trustor's behalf under this Deed of Trust or the Reiated Documents is false or misleading in
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