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201208896
<br /> DEED OF TRUST
<br /> Loan No: 81001445 (COntlflUed) Page 4
<br /> participation.
<br /> Apptication 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 a,pplied io the Indebtedness or the repai:r or restoration of the Property. The net
<br /> proceeds of the award shall mean the award after payment of all reasonable eosts, expenses, and attorneys' fee5
<br /> incurred by Trustee or Lender i.n 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, TrusYor shall execute such documents in addition to
<br /> tnis Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien o�n
<br /> tne Real Pro.perty. Trustor shall reimburse Lender for all'taxes, as described below, together with aIl expenses
<br /> incurred in recording, perfecting or continuing this Deed of Trust, including without lim.itation all taxes, fees,
<br /> documentary stamps, and other charges for recortling or registering this Deed ofi Trust.
<br /> Ta�ces. 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 any part ofi the Indebtedness secured by this Deed of Trust; (2) a specific tax on
<br /> Borrower wnich Borrower i5 aufhorized or�equired io 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 tne Lender or the holder of the
<br /> Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments ofi principal and i.nterest
<br /> made by Borrower.
<br /> Subsequent Taxes. If any tax to which this section applie5 is enacted subsequent to the date of this Deed of
<br /> Trust, this event shall have tne same effect as an Event of Default, and Lender may exercise any or alI of its
<br /> available remedies fior an Event of Default as provided below unless Trustor either (1) pays the tax before it
<br /> becomes delinquent, or (2) contests the t�as provided above in the Taxes and Liens section and deposits with
<br /> Lender cash or a sufficient corporate surety bond or other security satisfacYory to Lender.
<br /> SECURITY AGREEMENT; FINANCWG STATEMENTS.. The fiollowing 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 shafl constitute a Security AgreemeM to the extent any of the Property
<br /> constitutes fixtures, and Lender shall have all of the rights of a secured party unde�the Uniform Commercial Code
<br /> as amended from time io time.
<br /> Security Interest. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect
<br /> and continue LendePs security interest in the Rents and Personal Property. In addition to recording xhis Deed of
<br /> Trust in the reaf 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 for all expenses incurred in perfecting or continuing tli.is secur'rty interest. Upon default,Trustor
<br /> shali 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 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 Trustor (debtor) and Lender (secured party) firom� which infotmation
<br /> concerning the security interest gPanted by this Deed of Trusi may be obtained (each as required by the Uniform
<br /> Commerci�al Code) are as stated on the first page of this Deed of Trust.
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The fiollowing provisions relati.ng to further assurances and
<br /> attorney-in-fact are a part of this Deed ofi Trust:
<br /> Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, execute and
<br /> deliver, or wi�ll cause to be made, executed or delivered,io Lende��r or to Lender's des�ignee, 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 pl�aces as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security
<br /> agreements, fi�nanci.ng statements, continuaYion statements, instruments of fiurther assurance, certificates, and
<br /> otner documents as may, in the sole opinion of Lender, be necessary or desirable in arder to efiFectuate, complete,
<br /> perfect, coniinue, or preserve (1) Borrower's and Trustor's obligations under the Note, tnis Deed of Trust, and
<br /> tne Related Documents, and (2) the liens and security inierests created by this Deed of Trust as first and prior
<br /> liens on the Property, whether now owned or hereafter acquired by Trustor_ Unless prohibited by law or Lender
<br /> agrees to the contra:ry in writing, Trustor shall reimburse Lender for aIl cos*s and expenses incurred in connection
<br /> with the matters refierred to in this paYagraph.
<br /> Attorney-in-Fact. ff 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, Trustor hereby irrevocably appoints
<br /> Lender as TrustoYs 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 Borrower and Trustor pay afl the Indebtedness, including without fimitation all fiuture
<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 shall execute and deliver to Trustor
<br /> suitable statements of termination of any financing statement on file evidencing Lender's security interest in tne Rents
<br /> and tne Personal 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 fails to comply with or to perform any other term, obligation, covenant or
<br /> condition conta�ined in this Deed of Trust or in any of the Related Documents or to comply with or to perform any
<br /> term, obligation, covenant or condition contained in any other agreement between Lender and Borrower or Trustor.
<br /> Compliance Default. Failure to comply with any other term, obligation, covenant or condition coniained '¢n this
<br /> Deed of Trust,the Note or in any of the Related Documents.
<br /> DefauBt on Other Payments_ Failure of 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 ofi 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 agreement, in favor of any other creditor or person
<br /> that may materially affect any of Borrower's or any Grantor's property or Borrower's ability io repay the
<br /> Indebtedness or Borrower's or Grantor's ability to perform their respective obligations under this Deed of Trust or
<br /> any of tne Related Documents.
<br /> False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Trustor
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