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201300355
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Last modified
12/31/2013 11:07:18 AM
Creation date
1/15/2013 8:23:55 AM
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DEEDS
Inst Number
201300355
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201300355 <br /> DEED OF TRUST <br /> (Continued) Page 4 <br /> at the Credit Agreements maturity. The Deed of Trust also will secure payment of these amounts. The rights provided <br /> for in this paragraph shall be in addition to any other rights or any remedies to which Lender may be entitled on account <br /> of any default. Any such action by Lender shall not be construed as curing the default so as to bar Lender from any <br /> remedy that it otherwise would have had <br /> WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed <br /> of Trust <br /> Title. Trustor warrants that (a) Trustor holds good and marketable title of record to the Property in fee simple. <br /> free and clear of all liens and encumbrances other than those set forth in the Real Property description or in any <br /> title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection <br /> with this Deed of Trust, and (b)Trustor has the full right, power, and authority to execute and deliver this Deed of <br /> Trust to Lender. <br /> Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the <br /> title to the Property against the lawful claims of all persons. In the event any action or proceeding is commenced <br /> that questions Trustor's title or the interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the <br /> action at Trustor's expense. Trustor may be the nominal party in such proceeding, but Lender shall be entitled to <br /> participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, and <br /> Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time <br /> to permit such participation. <br /> Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all <br /> existing applicable laws, ordinances, and regulations of governmental authorities. <br /> Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall <br /> survive the execution and delivery of this Deed of Trust, shall be continuing in nature and shall remain in full force <br /> and effect until such time as Trustor's Indebtedness is paid in full. <br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust: <br /> Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and <br /> Trustor shall promptly take such steps as may be necessary to defend the action and obtain the award. Trustor <br /> may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be <br /> represented in the proceeding by counsel of its own choice, and Trustor will deliver or cause to be delivered to <br /> Lender such instruments and documentation as may be requested by Lender from time to time to permit such <br /> participation. <br /> Application 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 applied to the Indebtedness 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 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 shall execute such documents in addition 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 for all taxes, as described below, together with all 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 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 of the Indebtedness secured by this Deed of Trust; (2) a specific tax on <br /> Trustor which Trustor 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 chargeable against the Lender or the holder of the Credit <br /> Agreement, and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and <br /> interest made by Trustor. <br /> Subsequent 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 Default, and Lender may exercise any or all 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; 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 extent any of the Property <br /> constitutes fixtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code <br /> as amended from time to time. <br /> Security Interest. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect <br />
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