Laserfiche WebLink
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
.� "��� DEED OF TRUST � 0�. 2 0 91'� � <br />Loan No: 101258593 (Continued) P�ge 5 <br />AppBcation of Net Proceeds. If all or any pert of the Property is condemned by eminent domain proceedinga or by <br />any proceeding or purchese in lieu of condemnetion, Lender may at its election require that all or any portlon of the <br />net proceeds of the eward be applied to the Indebtedness or the repair or restoration of the Properry. The net <br />proceeda of the ewerd shall mean the awerd after peyment of all reasonabte 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 releting <br />to governmental taxes, fees and charges ere a pert of this Deed of Trust: <br />Currerrt Taxes, Fees and Charges. 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 ell expenses <br />incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees, <br />documentary stamps, and other charges for recording or registering this Deed of Trust. <br />Taxes. The following shell constitute taxes to which this section applies: (1) a specitic 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) e speciflc tax on <br />Trustor which Truator is authorized or required to deduct from payments on the Indebtedness secured by this type <br />of Deed of Trust; (3) a tax on this type of Deed of Trust chergeable against the Lender or the holder of the Note; <br />and (4.) a speclflc tax on all or any portion of the Indebtedness or on payments of principal and interest made by <br />Trustor. <br />Subsequer�t Texea. If any tax to which this section applies is enacted subsequent to the dete of this Deed of <br />Trust, this event shall heve the same effect es en Event of Default, and Lender may exercise any or ell of ita <br />eveilabte remedlea for en 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 AQREEMENT; FlNANCING STATEMEWTS. The following provisions relating to this Deed of Trust as a <br />secur(ty egreement ere e pert of this Deed of Trust: <br />9eaurlty Agreemerrt. This instrument shall constitute a Security Agreement to the extent any of the Property <br />conatitutes fixturea, and Lender shell have all of the rights ot a secured perty under the Uniform Commercial Code <br />as emended 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 Rents end Personal Property. In addition 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 counterparts, copies or reproductions of this Deed of Trust as a financing statement. Trustor shall <br />reimburse Lender for all expansea incurred in perFecting or continuing this security interest. Upon default, Trustor <br />shall not remove, sever or detach the Personel Property from the Property. Upon defeult, Trustor ahall assemble <br />eny Personal Property not affixed to the Property in a manner and at a plece reasonably convenfent to Trustor end <br />Lender and meke it available to Lender within three (3) days after receipt of written demend from Lender to the <br />extent permitted by epplicable law. <br />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information <br />concerning the aecurity interest grented by this Deed of Trust may be obteined (each as required by the Uniform <br />Commercial Code) ere as steted on the first page of this Deed of Trust. <br />FURTHER ASSURANCES; AITORIVEY-IN-FACT. The following provisions relating to further essurances and <br />ettorney-fn-fact are a pert of this Deed of Trust: <br />Further Assurancea. 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 filed, recorded, refiled, or rerecorded, as the case may be, at such times and in such offices <br />and places es Lender may deem eppropriate, any end all such mortgages, deeds of trust, security deeds, aecurity <br />agreements, financing statements, continuation statements, instruments of further assurance, certificates, end <br />other documents as may, in the sole opinion of Lender, be necessery 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, end (2) the liens and security interests created by this Deed of Trust es 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 />metters referred to in this paragraph. <br />Attomey-in-Fact. If Trustor fails to do any of the things referred to in the preceding paregreph, Lender may do so <br />for and in the name of Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocebly appoints <br />Lender as Trustor's attorney-in-fect for the purpose of making, executing, delivering, filing, recording, and doing all <br />other things as mey be necessary or desirable, in Lender's sole opinion, to accomplish the matters referred to in <br />the preceding paregreph. <br />FULL PERFORMANCE. If Trustor pays all the Indebtedness, including without limitation ell future advances, when due, <br />and otherwise pertorma ell the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute end <br />deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suiteble statements of <br />