Laserfiche WebLink
201301066 <br /> DEED OF TRUST <br /> Loan No: 101260351 (Continued) Page 5 <br /> No Modification. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or <br /> other security agreement which has priority over this Deed of Trust by which that agreement is modified, <br /> amended, extended, or renewed without the prior written consent of Lender. Trustor shall neither request nor <br /> accept any future advances under any such security agreement without the prior written consent of Lender. <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 Note; <br /> and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by <br /> 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 /> and continue Lender's security interest in the Rents and 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 expenses incurred in perfecting or continuing this security interest. Upon default, Trustor <br /> shall 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) from which information <br /> concerning the 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 of this Deed of Trust. <br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and <br /> attorney-in-fact are a part of this Deed of Trust: <br /> Further Assurances. 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 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, certificates, 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) Trustor's obligations under the Note, this Deed of Trust, and the Related <br />