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201401177
<br /> DEED OF TRUST
<br /> Loan No: 8�0049�1 (Contine�ed) Page 4
<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 aA or any part of the PropeRy is condemned hy eminent domain proceedings or by
<br /> any procaeding 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 applisd to the [ndebtedness or the repair or restoratian of the Property. 7he net
<br /> proceeds of the award sha11 rnean the award after payment of alf reasonable costs, expanses, and attorneys' fees
<br /> incurred by Trustee or Lender in connection with the condemnation.
<br /> IMP05lTfOH OF 7AXES, FEES AND CHARGES BY G�VERNMEflETAL AUTHOR[T[ES. The following pro�isions relating
<br /> to governmenta[taxes, fees and charges are a par#of this �eed of�rust:
<br /> Corrent Taxes, Fees and Charges. !lpon request by Lender, Trustor shal] execute such documents in addition to
<br /> this Deed of Trust and take whatever other action is requested f�y Lender to perfect and continue Lender's iien on
<br /> the Real Property. Trusior shall reimburse Lender for aIl taxes, as described 6elow, togeiher with all expenses
<br /> incurred in recording, perfecting or continu9ng th9s Deed of Trust, including without limitation a!I taxes, fses,
<br /> documentary stamps, and other charges far recording ar registering#his Deed of Trust.
<br /> Taxes. The following shal[ constitute taxes to which this section applies: {1} a specific tax upon this type of
<br /> Deed of Trust or �pon all or any part of the [ndebtedness secured 6y this ileed of Trust; {2J a specific tax on
<br /> Borrower which Borrower is authorizec[ or required to deduct from payments an the Inde6#edness secured by this
<br /> type o'f Deed af Trust; {3} a tax on this type af �eed of 3�rust chargeable against the Lender or the holder of the
<br /> Note; and [4} a specific tax on all or any porFion of the Indehtedness or pn payments of principal antt inierest
<br /> made by Borrower.
<br /> Subsequent Taxes. If any #ax to which this section appiies is enacted subsequent to the da#e of this Deecf of
<br /> TrusY, this event shall have the same effect as an Event ofi Defau[t, anc[ Lender may exercise any or all o�F its
<br /> available remedies far an EvenY of Default as provided below unless Trustor either {1] pays the tax befiore it
<br /> becomes delinquent, or (2} contests the tax as provided above in Yhe Taxes and Liens sect[on and deposits with
<br /> Lender cash or a sufficient corporate surety bond or other securi'ry satisfactory to Lender.
<br /> S�CURITY 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 Agreament. This instrumenE shall constitute a 5scurity Agreerr�ent to the ex#ent any of the Property
<br /> constitutes fixtures, and Lender shall fnave al] of the rights of a secured party under the Uniform Commescial Code
<br /> as amended from time to time.
<br /> Secarity [nterest. lJpon request by Le�der, Trustor shall ta[ce whatever action is requested by Lender to perfect
<br /> and continue Lender's security interest in the Rents and Personal Property. [n addition to recarding this DEEd of
<br /> Trust in the real property records, Lender may, at any tima 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 iror all expenses incurred in perfecting or continuing this security interest. Upon default, Trustor
<br /> shal] not remove, sever or detach the Personal Property from the Property. Upon defauEt, Trustor shall assemble
<br /> any Persona3 Property not affixed to the Property in a manner and at a place reasonably convenient to Trustar and
<br /> Lender and make it available ta Lender within three (3} days after receipt of written derr�and from Lender to the
<br /> extent permitted by applicab[e law.
<br /> Addresses. The mailing addresses of Trustor [debtor} and Lender (secured partyl from which intormation
<br /> concerning t[�e security interest granted by this Deed of Trust may be obtained [each as required by the Uniform
<br /> Commerciaf Code} are as stated on the firs#page nf this Deed of Trust.
<br /> FUR7HER ASSURAfVCES; A3TORNEY-IN-FACT. The fiollowing provisions relating to furt[�er assurances and
<br /> attomey-in-fact are a parE of xhis Deed of Trust:
<br /> �'urther Assurances. At any time, and from time to time, upon request of Lender, 3rustor will make, execute and
<br /> deliver, or will cause to be made, executed or de[i�ered,to Lender or to Lender's designee, and when requested by
<br /> Lender, ca�se to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and in such affices
<br /> and places as Lender may deem appropriate, any and all such marCgages, 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 dasirable in order to effectuate, complete,
<br /> perfect, continue, or preserve i1) Borrower's and Trustor's obligations under the f�ote, ihis Deed of 7rust, and
<br /> the Related t7ocuments, and {2) the liens and security inierests created by this Deed of Trust as first and prior
<br /> liens on the Property, whether now ow�ed or hereafter acquired by Trustor. Unless prohibitec€ by law or Lender
<br /> agrees to the contrary in writing, Trustor shall reimburse Lender for alI costs ancE expenses incurred in connection
<br /> with the rrtatters referred ta in this paragraph.
<br /> Attorney-in-�act. Ifi Trustor fails to do any of ihe 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 pusposes, l-rustor hereby irrevocably appoints
<br /> Lender as Trustor's attorney-in-fact for the purpose of making, executing, deEi�eri�g, filing, recording, and doing all
<br /> other things as may be necessary or desirable, in Lender's sale opinion, to accornplish the matters referred to in
<br /> the preceding paragraph.
<br /> FULL PER�ORMANCE. !f Sorrower and Trustos pay a[I the Indebtedness, including without limitation aA fuFure
<br /> advances, when due, and Trustor otherwise perfarms a{I the obligations imposed upon Trustor under Yhis Deed o#Trust,
<br /> Lencfer shall execute and deliver to Trustee a request for full reconveyance and shal[ execute and deli�er to Trustor
<br /> suitabie statements of termination of any financing statement on file evidencing Lender's security interest in the Rents
<br /> and the Personal Praperty. Any recanveyance fee required by !aw shall be paid by Trustor, if permitted by applica6le
<br /> law.
<br /> EVENTS OF G�EFAULT. Each of the following, at Lender's aption, shal! constitute an Event of Default under this �eed
<br /> of Trust:
<br /> Payment Default. Borrower fails to make any payment when due under the Indebtedness.
<br /> Qther Defau[ts. Borrower or l-rustor fails to comply wit[� ar to perform any other term, abligation, covenant ar
<br /> condition conEained in this Qeed of Trust or in any of the Related Documents or to comply with or to perform any
<br /> term, obligation, covenant or condition contained in any other agreement E�etween Lender and Borrower or Trustor.
<br /> Comp[iance �efau�t. Fai{ure to comply with any othes term, obligation, covenant or condition contained in this
<br /> Deed of Trust,the Note or in any a�the Related Documents.
<br /> Default on 4ther Payments. Failure o'f Trustor within the time required by this Deed of Trust to make any payment
<br /> fos taxes or insurance, or any other payment necessary to prevenE fi[ing of or to effect discharge of any lien.
<br /> Default in Fa�or of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit,
<br /> securi'ry agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or persan
<br /> that may macerialEy affect any of Borrower's or any Grantor's property or Borrower's ability to repay the
<br /> Indebtedness or Borrower's or Grantor's ability to pesform their respective o6ligations under this Deed af Trust or
<br /> any of the Relatect Documents.
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