|
201210553
<br /> DEED OF �RUST
<br /> Loan No: 10004825 (Continued) i�age 4
<br /> Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to
<br /> this Deed of Trust and tal<e whatever other action is requested by Lender to perfect and continue Lender's lien on
<br /> the Real Property. Trustor snall reimburse Lender for all taxes, as described below, together with all expenses
<br /> incurred in recording, perfecting or conti�.nuing this Deed of Trust, including without limitation all taxes, fees,
<br /> documentary stamps, and other charges for recording o�registering this Deed of Trust.
<br /> Taxes. The fiollowing snall constiiu2e taxes io which this section applies: (�) a specific tax upon ihis type of
<br /> Deed ofi Trust or upon aII or any part of the Indebtedness secured by this Deed ofi Trust; (2) a specffic tax 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 typ.e of Deed of Trus�t chargeable against the Lender or the holder of the
<br /> Note; and (4) a specific tax on all or a.ny portion of the Indebtedness or on payments of princi.pal and interest
<br /> made by Borrower.
<br /> Subsequent Taxes_ If any tax to whi.ch this section appiies is enacted subsequent to the date of this Deed ofi
<br /> Trust, this event shall have the same effecY 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 eitner (1) pays the tax before it
<br /> tiecomes delinquent, or (2) contests the tax as provided above in�the Taxes and Liens section and deposits with
<br /> Lender cash or a sufficient corporete surety bond or other security satisfactory to Lender.
<br /> SECURITY AGREEIVIENT; FINANCIIVG STATEMENTS. The foilowing provisions relati�ng to this Deed of Trust as a
<br /> security agreement are a part of this Deed of Trust:
<br /> Security Agreement. This instrument shall consti�tute a Security Agreement to the extent any ofi the Property
<br /> constitutes fiixtures, and Lender shall have all of ihe rig�hts of a secured party under the Unifiorm Commercial Code
<br /> as amended from time to time.
<br /> Security Interest. Upon request by Lender, Trustor shall talce w�hatever action is requesied 6y Lender to perfiect
<br /> and continue Lender's security interest in tne Personal Property. In addition to recording this Deed of Trust in the
<br /> real property records, Lender may, at any time and without further authorization from Trustor, file executed
<br /> counterparts, copies or reproduc'[ions of this Deed of Trust as a financing statement. Trustor shall reim6urse
<br /> Lender for all expenses incurred in perfiecting or continuinc� this security interest. Upon defiault, Trustor shall not
<br /> remove, sever or detach the Personal Property firorn the Property. Upon defaul2, Trustor shall assemble any
<br /> Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor and
<br /> Lender and mal<e it available to Lender w�thin three (3) days after receipt of written demand firom Lender to the
<br /> extent permitted by applicable law_
<br /> Addresses_ The mailing add�resses of Trustor (debtor) and Lender (secured party) firom which informatlon
<br /> concerning Yhe 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 first page ofi this Deed of Trust.
<br /> FURTHER ASSU.RANCES; ATTORNEY-W=FACT. The following provisions relating to further assurances and
<br /> attorney-in-fact are a part ofi this Deed of Trust:
<br /> Further Assurances. At a�ny time, and from time to time, upon request ofi Lender, Trustor wiil make, execuce 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 as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security
<br /> agreements, fin.ancing statements, continuation statements, instruments of further assurance, certificates, and
<br /> other documents as may, i�n the sole opinion of Lender, be necessary or desirable in order to eftectuate, complete,
<br /> perfect, continue, or preserve (l) Borrower's and Trustor's obligations under ihe Note, this Deed of Trust, and
<br /> the Related Documents, and (2) the liens and security interests created by this Deed of Trust on the Property,
<br /> whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to tne conira�ry in
<br /> writing, Trustor shall reimburse Lender for all costs and expenses incurred in connection witn the matters referred
<br /> to in this paragrapn.
<br /> Attorney-in-Faot If Trustor fails io 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 Trustor's attomey-in-fact tor the purpose of mal<ing, executing, delivering, fiiling, recording, and doing all
<br /> other things as may be necessary or desirable, in Lender's sole opinion, to accomplish the maYters refierred to in
<br /> the preceding paragrapn..
<br /> FULL PERFORMANCE. If Borrower and Trustor pay alI the Indebtedness when due, and Trustor otherwise performs all
<br /> the obligations imposed upon Trustor under this Deed ofi Trust, Lender snall e�xecute and deliver to Trustee a request for
<br /> full reconveyance and shall execute and de�liver to Trustor suitable statemen'ts of termination of any financing siatement
<br /> on file evidencing Lender's security interest in the Rents and the Personal ProperCy. Any reconveyance fiee required by
<br /> law shall �e paid by Trustor, if permitted by applicable law.
<br /> EO/ENTS OF DEFAULT. At Lender's option, Trusior will be i�n default under this Deed o#Trust if any of the fioliowing
<br /> happen:
<br /> Payrnent Default_ Borrower fails to maf<e any payment when due under the Indebtedness.
<br /> Brealc Othe:r Promises. Borrower or Trustor brealcs any promise made to Lender or fails to perform promptly at the
<br /> time and strictly in the manner provided in th.is Deed of Trust or in any agreement related to this Deed of Trust.
<br /> Compliance Defaul�t� Failure to comply with any other term, obligation, covenant or condition. contained in this
<br /> Deed of Trust,the Note or in any of Yhe Related Documents.
<br /> Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to mal<e any payment
<br /> fior taxes or insurance, or any other payment necessary to prevent tiling of or to efifect discharge ofi any lien.
<br /> Dcfault in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension ofi credit,
<br /> security agreement, purchase or saies agreement, or any other agreement, in fav�r�f any other creditor or person
<br /> that may materially affect any o�f Borrower's or any Grantor's property or Borrower's abil.ity to repay the
<br /> fndebtedness or �orrower's or Grantor's ability Lo perform thePr respective obli��gations under this Deed of Trust or
<br /> any ofi the Related �7ocuments.
<br /> False Statements. Any representation or statement made or furnished to Lender by Borrower or Trustor or o:n
<br /> Borrower's or Trustor'�s behalf under this Deed of Trust or the Related Documents is fialse or misleading in any
<br /> material respect, either now or at tlle time made or furnished.
<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 securi�ty interest or lien) at any
<br /> time and fio�r any reason.
<br /> Death or Insolvency. The death of Borrower or Trustor, the insolven�cy ofi Borrower or Trustor, the appointment of
<br /> a receiver for a�ny part ot Borrower's or Trustor's properiy, any assignm�ent fo:r the benefit of creditors, any type of
<br /> crediYor worE<out, or the commencement of any proceeding under any bankruptcy or insolvency laws by or aga:inst
<br /> 8orrower or Trustor. �
<br /> Taicing of the Property. Any creditor or governmental agency tries to tat<e any of the Property or any other o#
<br />
|