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201400195
<br /> DEED OF TRUST
<br /> Laan No: 89004480 fContinued) Page 4
<br /> any proceeding or purchase in lieu of condernnation, Lender may at its election require tha't al1 or any partion of the
<br /> net proceeds of the award be app[ied 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 reesonable costs, expenses, and attarneys' fees
<br /> ineurred by Trustee ar Lender in connection with the candemnation.
<br /> IMPOSITION OF TAXES, FEES AND CHARGES BY C�OVERlVM�NTAL AUTH�RITIES. The following provisians relating
<br /> to governmental taxes,fees and charges are a part of this Deed of Trust:
<br /> Current Taxes, Fees and Charges. Upon requesi hy Lender, Trustor shal[ execute such documents in addition to
<br /> ihis Deed of 7rust and Eake whatever other action is requested 6y Lender to perfect and continue Lender's [ien on
<br /> the Real V'roperty. Trustor shall reimburse Lender far all taxes, as described 6e[ow, together with atl expenses
<br /> incurred in recording, perfecting or continuing this Deed of TrusY, induding without limitation all taxes, fees,
<br /> documentary stamps, and other charges fvr recording or registering this Deed of Tr�st.
<br /> Taxes. The following shall constitu#e #axes to which this section applies: {1) a specific tax upon this #ype of
<br /> Deed of Trust or upon all or any part of the Indef�tedness secured �Oy this Reed of Trust; (2} a specific tax on
<br /> Borrower which Borrower is authorized or required to deduct from paymenis on the [ndebtedness secured by this
<br /> type of deed of Trust; f3} a tax on this type of Deed of 7rust chargeable agains#the Lender or the holder of the
<br /> f�ote; and (4) a specific tax on all or any portion af the ]nde6tedness or on payments of principal and interest
<br /> made by Borrower.
<br /> Sr�bseqeaerrt Taxes. if any tax to which this section applies is enacted subsequent to the date of this Deed of
<br /> Trust, this event sha11 ha�e the same effect as an Event of Default, and Lender rnay exercise any or all ofi its
<br /> available remedies for an Event of Default as pravided below unless Trustor either [7} pays the fax 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 sufficienE corporate surety bond or other security satisfactory#o Lender.
<br /> S�CURI7Y AGREEMENT; FINANC[[1[C, STATEiIII�NTS. The FolEowing 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 canstitute a Security Agreement to the extent any of the Property
<br /> constitutes fixtures, and Lender shall fnave all of the rights of a secured parry under the Uniform Commercial Code
<br /> as amended from time to time.
<br /> 5eaurity Interest. Upon request by Lender, Trustor shall take whatever acYion is requested by Lender to perfect
<br /> and continue Lender's security inEerest in the Rents and Personal Praperty. ]n addition to recording this Deed of
<br /> Trust in the real properCy records, Lender may, at any time and without further authorization from Trustor, file
<br /> executed counterparts, copies or reproductions of this Deed af Trusi as a financing statement. Trustor shall
<br /> reimburse Lender for a[I expenses incurred in perfecting or continuing this security inCerest. Upon default, Trustor
<br /> shal[ not remo�e, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble
<br /> any Psrsonaf Property not affixed to the Property in a rnanner and at a p[ace 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 /> exten#permitted by app[icable law.
<br /> Addresses. The mailing addresses of Trustor ;debtor) and Lender {secured party] from which information
<br /> concerning the security interes# granted by t[�is 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 /> FURTFEEft ASSURANCES; A'F"FDRIYEY-IN-FACT. The following provisions relating to further assurances and
<br /> attorney-in-fact are a part of th9s �eed of Trvst:
<br /> Further Assuranees. At any tirrte, and from time to tirrse, u¢on request o� Lender, Trustor will make, execute and
<br /> deliver, or wil[ cause to be made, executed or delivered, to Lender or co Lender's designee, and when requested by
<br /> Lender, cause to be filed, recosded, refiled, or rerecorded, as the case may be, at such times and in such offices
<br /> and pfaces as Lender may deem appropriate, any and all se�ch mortgages, deeds of trust, security deeds, security
<br /> agreerner�ts, financing statements, continuation statements, instruments of further assurance, certificates, arod
<br /> other documenis as may, i�the soEe opinion of Lender, be necessary or desirable in order to effectuate, complete,
<br /> perfect, continus, or preserve {1} Borrower's and Trustor's ob]igations under the Note, this Deed of Trust, a�d
<br /> the Related Documenxs, and ;2} the liens and security interests created hy this Deed of Trust as first and prior
<br /> liens on the Property, whether now owned or hereafter acquired by Trustor. Un�ess prohibited by law or Lender
<br /> agrees to the contrary in writing, Trustor sE�al[ reimburse Lender for all costs and expenses incurred in connection
<br /> with the matters referred to i�this paragraph.
<br /> Attarney-in-Fact. If Trustor fai[s to do any af the things referred to in the preceding paragraph, Lender may do so
<br /> for and in the name of Trustor and at �rustar`s expense. For such purposes, Trustor hereby irrevocably appoints
<br /> Lender as 7rustor's attorney-in-fact for the purpose of making, executing, delivering, fil'sng, recording, and doing all
<br /> other things as may be necessary or desirable, in Lender's sols opinion, to accomplish the matters referred to in
<br /> the preceding paragraph.
<br /> FEJLL PERFOF$MA{�lCE. If Sorrower and Trustor pay a�l the IRde6tedness, including without limitation all future
<br /> advances, when dus, and Trustor otherwise perForms aEl the obligations irrzposed upon Trustar under this Deed of Trust,
<br /> Lender shall execute and c[eliver to Trustee a request far ful[ reconveyance and shall execute and deliver to Trustar
<br /> suitabls statements of termination of any#inancing statement on file e�idencing Lender`s securiry interest in the Rents
<br /> and the Personal Property. Any recon�eyanoe fee required 6y [aw shail 6e paid by Trustor, if permitted by applica6le
<br /> law.
<br /> EVENTS OF DEFAULT. Each of the fol]owing, at Lender's option, shall constitute an Event of Default under this Deed
<br /> of Trust:
<br /> Payment Qefau[t. Borrower fails to make any payment when due under the ]nciebtedness.
<br /> Qther Defaults. Borrower or Trustor faiEs to comply with ar to per�orm any other term, obligation, covenant or
<br /> condition contained in this Deed of Trust or in any of the Related Documents pr to compfy with or to per#orm any
<br /> terrn, obligation, covenaM or condition contained in any ather agreement between Lender and Borrower or Trustor.
<br /> Complian�e defav[t. Failure to comply with any other term, qhligation, covenant ar condition contained in this
<br /> Deed of Trust, the Note or in any of the Relatad Documents.
<br /> Defa�lt o� Other Payrnents. Failure of Trustor within the iime required by this ❑eed of Trust to make any payment
<br /> for taxes or insurance, or any other payment necessary to pre�ent filing of or to effect discharge of any lien.
<br /> Default in Fa�or of Third Pa�-r[ies. 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 rr�ay materially a#fect any of Bprrower's or any Grantor's propeRy or Borrower's a6ility to repay the
<br /> Indebtedness or Borrower's or Grantor's ability to perform their respective abligations under this Deed ofi Trust or
<br /> any of the Related Docurnents.
<br /> False StatemenYs. Any warranty, representatian or statement made or furnished to Lender L�y Barrower or Trustor
<br /> ar on Borrower's or Trustor's behalf under this Deed of Trust or the Refated Docurnents is false or misleading in
<br /> any material respect, either now or at Yhe time macie or furnisF�ed or becomas false or misleading at any time
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