201400238 - Laserfiche WebLink

Browse

201400238 DE�D OF TRUST Loan No: 81004638 (CO1ltlClued} Page 4 net proceeds of ihe award be applied to ihe Indehtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonab[e costs, expenses, and attosneys' fees incurred by 7rustee or Lender in connection with the condemnation. IMPOSITION OF TAXES, FEES AI�D CHARGES BY GOVERNlVIENTAL AUTHOEiITIES. The following provisions re[ating to go�ernmental taxes,fees and cherges ara a part of this Deed af Trust: Currerrt Taxes, Fees and Charges. Upon request by �ender, Trustor shall execute such documents in addition to this Deed of 7rust and take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shal[ reimburse Lender for al[ taxes, as described below, tagether with all expenses incurred in recarding, perfecfsng or conYsnuing this DEECI of Trust, inc]uding wi#hout limi#ation ali taxes, fees, C[ocumentary stamps, and other charges for recording or registering this Deed of Trus#. Taxes. The following shall constitute taxes to which this section appliss: (9} a specifiic tax upon this type of aeed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust, (2] a specifie tax on Barrower which Borrower is authorized or required xo deduct from payments an the Indebtedness secused by th'ss type of Deed of Trust; (3} a tax on this type of Deed of Trust chargeable against the Lender or the holder of the �Vote; and f4) a specific tax on al3 or any portion o-F the Indebtedness or on payments ofi principal and interesi rnade by Borrower. Suhsequerrt Taxes. If any tax to which this section applies is enacted subseguent #o the daxe ot this Deed of Trus#, this event shall ha�e the same effect as an Event of Default, and Lender may exercise any or all of its available remedias for an Event af Default as provided below unless Trustor either {T} pays the tax before 'st becomes t[elinquent, or f2} contests the tax as pravided above in the Taxes and Lie�s section and deposits with lender cash or a sufficient corporate surety bond or other secur'sty satisfactory to Lender. SECURE7Y AGREEM�NT; FINANC[R[G STATE�II�f�TS. The fol[owing provisiorss relat'sng to tE�is �leed of �rust as a security agreement are a part of this Deed of Trust: Security Agreement. This instrument shal] constiEute a 5ecuriiy Agreement to the extent any of the Property constitutes fixtures, and Lender shall ha�e all of#he rigE�ts of a secured pariy under the Uniform Commercia[ Code as amended from time to time. Secarity Enterest. Upon request by Lender, Trustor shall take wha#ever aciian is requested by Lender to perfect and co�tinue Lender's security interest in the Rents and Persona] Praperty. ln addition to recording this Deed of Trust in the rea[ properky records, Lender may, at any tima and without further authorizafiion from Trustor, file executed counterparis, copies or reproductions of this Deed of TrusE as a financing statement. Trustor shall reimbe�rse Lender for a11 expe�ses incurreci in perfecting or continuing this security interest. Upon default, Trustor shall not remove, sever or detach the Personal ProPerty from the Property. Upon default, Trustar shall a5semble any Personal Property not affixed to ihe Property in a manner and at a piace reasonably convenient to Trustor and Lender and make it available ta Lender within three (3} days after receipt ofi written demand €rom Lender to the exYent permitted by applicab[e law. Addresses. The mailing addresses of l-rustar (debtor} and Lender (secured party) from which information concerning the security interest granted by this Qeed of Trust may be obtained feach as required by the Uniform Cammercia[ Codef are as stated on the firs�page of this �eed of Trust. FURTHER ASSUFtANCES; ATTQRNEY-EN-FACT. The follawing prov'ssions re€ating #o further assurances and attorney-in-fact are a part of this Deed of Trust: F�rther Assurances. At any time, and from time to time, upon request of Lender, Trustor wi[I make, execute and deliver, or will cause to be made, executed ar de[ivered,to Lender ar to Lender's designee, and when requested by Lender, cause to be �iEed, recorded, refiled, or rerecorded, as the case may 6e, at such times and in such offices and placss as Lender may deem appropriate, any and all such mortgages, deeds of trust, s$curity deeds, security agreemer�is, financing sYatements, continuation statements, instruments of further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complste, perfect, eontinue, or preserve {1} Borrower's and Trustor's obligations under the Note, this Deed of Trust, and the Related Documents, and [2] the liens and security interests created 6y this aeed of Trust as first and prior liens on the Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the eontrary in writing, Trustar sha[I reim�urse Lender for al[ costs and expenses incurred in connection with the matYers referred to in this paragraph. Attorney-in-Fact. If Trustor fails to do any of the things referred to in the preceding paragraph, Lender may do so fior and in the name of Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints Lender as 7rvstor's attorney-in-fact for tE�e purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender`s sole opinion, to accomplish the matters re�srred to irs the preceding paragraph. FULL PERFORMAIUGE. lf Borrower and Trusiar pay all the ]nciebtedness, including withoui limitation all future advances, when due, and Trustor otherwise performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request fpr fu11 reconveyance and shall execute and de[iver to Trustor suitable statements of terrnination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required tay law shall be paid by Trustor, if permitted by applicable law. EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Defauft under this Deed ofi Trust: Payment Default. Borrower fails to make any payment when due under the lndebtedness. 4ther Defaults. Borrower or Trustor fails to comply with or to pertorm any other term, obligatipn, covenant or condition contained in this Deed of Trust or in any of the Related Documents or to compiy with or io perfarm any term, obligation, covenant or condition contained in any ather agreement 6etween Lender and Sorrower or Trustor. Compliance Defa�lt. Failure ta comply w9th any other term, obligation, covenant or candition contained in #his �eed of Trust, the EVote or in any of the Re�ated Documents. f)efault on Other Payments. Fai[ure of Trustor within the time required by this Qeed of 7rust to rr3a[ce any payment for taxes or insurance, or any other payment necessary to pre�ent filing of or to effect discharge of any lien. F.3efault in Favor of Third Parties. Shou[d Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreemersi, or any other agreemeni, in favor of any other creditor or person ihat may materiaEly affect any of 8orrower's or any Grantor's property or Borrower's abiEity to repay the Indebtedness or Borrower's or Grantor's ability to perform their respective obligations under this Deed af Trust or eny of#he Related Documents. FaEse Statements. Any warranty, representation or sYatement made or furnished to Lender by Borrower or Trustor or on Borrower's or Trustor's behalf �snder t[�is Deed of Trust or the Ralated Docurnents is false or misleading in any materiai respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.