|
��14��11�
<br /> DEED �F �RLJ�T'
<br /> Loan �Vo: 7�'��75'1�5 ��vr1t��[�ed� Pag� 5
<br /> any proceeding or purchase in lieu of cond�mnation, Lender may at i�s election requi�e that al�or any portion of the
<br /> net proc�eds vf the award be applied �o the lndebtedness �r the repair or res�oration of the Proper�y. The n�t
<br /> proceeds of the award shall mean the award after payrnent af a�l reasonable costs, expens�s, and a�torneys' fees
<br /> incurred by Trustee or L�nder in connection with the candemnatinn.
<br /> INlPDSlT1�N �F T►4XES. FEES AND CHAF�GES BY GUVERNIVIENTAL AUTHDRITIES. Th� �fa�lvwin� provisions rela�in�
<br /> to ga�ernmen�al taxes, fees and charges are a part of this Deed of Trus�:
<br /> Current Taxes, Fees an�i Charges. Upan �e�uest by Lender, Trustor shall ex�cute such do�uments in addition �o
<br /> this ❑eed o�Trust and take whate�er a�her action �s requ�st�d by Lender to perf�c� and �antinue Lender's lien on
<br /> the Real Praper�y, Trust�r shall reimburse Lender fior al[ taxes, as described below� �agether with all exp�nses
<br /> incurred in recarding, pe�-fecting or continuing this Deed ��F Trust, including withou�t limi�ati�n all �axes, �ees,
<br /> documentary stamps, and vther charges for re�arding vr regist�ring this Deed of T�ust.
<br /> Taxes. The �vllow�ng shall cons�ti�ute �axes tv which this sec�ian applies: {1� a specific tax upan this typ� of
<br /> Deed �f Trus� or upan al! o� any part of �the Indeb��dness se�ured �y this Deed of Trus�; {�� a sp�cifi� tax on
<br /> gvrrower which Borrower is authorized or required �� deduc� �rom paymen�s on th� Indeiatedn�ss secured by this
<br /> �ype of Deed ��Trus�; �3y a tax�n this typ� o�F Deed of Trust chargeable agains�the Lend�r or�h� holder of�he
<br /> Nvte; and {4} a specific tax �n all or any portian of the Indeb�edn�ss or ❑n paym�nts of principa� and interest
<br /> made by garrvwer.
<br /> Suhs�quent Taxes. If any tax fin whi�h �his sectivn applies is enacted subsequent to the date af this Deed of
<br /> Trust, this ev�nt shall haWe �he same effect as an E�ent o�F Defau[t. and Lend�r may �x�rcis� any or all o� i�s
<br /> availab[e remedies f�r an EWent o� Default as pro�id�d below unless Trustor either �1 y pays the tax before it
<br /> I�ecames defin�uent, ar ��y contests the tax as pravided a1�o�e in the Taxes and Liens s��tian and deposi�s with
<br /> Lender cash or a suf�Ficient���pora�e surety bond or other security sa�isfactory to Lender.
<br /> SECURITY A�REEME111T; FIN►4,NCIN� STATEMENT54 The falivwing prv�isi�ns relating t❑ this Deed of Trust as a
<br /> security agreement ar� a part af�his Deed nf Trust:
<br /> 5e�uri�y �greement, This ins�rumen� shal[ constitute a 5ecurity Agreement fio the �xt�n� any of the Praperty
<br /> constitutes �Fixtur�s, and Lender shall have all af�he ri�hts o� a secured party under the Uni�orm Commercial Code
<br /> as amended from time fio time.
<br /> Securifiy lnteres�k. Upon request by Lend�r, Trustar sha�l take whate�er aGtivn is requested by Lender t� perfec�t
<br /> and c�ntinue Lender's security interes� in the Rents and Pers�na[ Property. ln additian �o re�arding this Deed of
<br /> Trust in the rea! p�operty records, L�nder may, at any time and without fiurther authori�atian �rom Trustor, file
<br /> executed counterparts, cvpies or reproductians af th�s Deed of Trust as a financing statement. Trus�ar shall
<br /> reimburse Lender f�r all �xpens�s incurred in perfecting or c�ntinuing this securi�y interes�. Upon de�aulfi, Trus�or
<br /> sha�l not remave, sever ar detach fih� Pers�na� Prop�rty �rom the Prvperty. lJpan default, Trustor shali assemble
<br /> any Personal Property not a#fixed �a the Praper�y in a rnann�r and at a plac� reas�nably con�eni�n��v Trustar and
<br /> Lender and make ifi available to Lender wi�hin three �3) days af�er rec�ipt of writ�ten d�mand �ram Lender to the
<br /> extent perrnitted by applicable �aw.
<br /> Addresses. Th� mailing address�s of Trustor tdebtory and Lender �secur�d partyy �Fr�m which in�formatian
<br /> canc�rning the s�curi�y interest granted by this Deed c�f Trust may be ob�a�ned {each as required by the lJniform
<br /> Commercial Cod�y are as sta�ed on the firs�page of this Deed of Trust.
<br /> FURTHER ASSURANCES: ATT�RNEY-IN-FACT. The �oflowin� pro�risivns re�ating to furth�r assuran�es and
<br /> attorney--in��Fact are a part of this Deed vf Trusfi:
<br /> Further Assuran�es. A� any time, and from time fa time, upan request of Lender, Trusfior ►rvi[I make, �x�cute and
<br /> deli�er, or will cause to be made, exe�uted �r delivered, ta Lender❑r ta Len�er's designee, and when requested by
<br /> . Lender, cause to be filed, recorded, refiled, or r�r��orded, as the case may �e, a� such times and in such of�ices
<br /> and places as Lender may deem appropriats, any an� �II such mortgages, deeds o�F firust, secur�ty deeds, security
<br /> agreements, financing statements, continuati�n s�a�em�n�s, instruments �f fur�her assurance, �ertifica�tes, and
<br /> vther documents as may, in�he s��� opinion af Lender, be necessary�r desirable in �rder to e�Ffe�tuate, �omplete,
<br /> perfec�, continue, or pr�ser�e {1} gorrawer's and Trustar's obligations under the Note� �his Deed of Trust, and
<br /> the R�lated aocumen�ts, and ��} the 1i�ns and securi#y interests created by this Deed af Trust as first an� prior
<br /> liens on fihe Pr�p�rty, whether n�w �wned or hereaf�er acquired by Trus�or. Unless prohibi�ed by �aw or Lender
<br /> agrees �o the contrary in writing, Trustor shall reimburse Lender fo�- all costs and expenses incurred in connecti�n
<br /> wi�h the matters referred t❑ in fihis paragraph.
<br /> Afitorney-in-Fac�. If Trustor fails to do any o�the things refe��ed to in �khe precedin� para�raph. Lender may do so
<br /> �ar and in the name of Trus�or and at Trustvr's expense. For such purposes, Trustar hereby irre�ocably appv�nts
<br /> Lender as Trustor"s attorney�in-fact for the purpose of making, execuf�ng, del��ering, filin�, re�vrding, and daing all
<br /> ather �hings as may be necessary or des�rable� in Lend�r"s sQl� opiniQnf to accomp{ish �he mat�ters re�Ferred to in
<br /> the preceding paragraph,
<br /> FULL PERFORMANCE. If Borrower and Trus�or pay a11 �he Indebtedness, including withau� fimitati�n all �Future
<br /> ad�ances, when due, and Trustor otherwise per�arms all the obliga�ivns imposed upon Trustor under�his Deed o�F Trust,
<br /> Lender shall execute and d�li�er to Trustee a request for full recvnveyance and sharl execute and deli�er ta Trustor
<br /> su��able sta�ements of termination o�any financing statement an �ile e�idencing Lender's securi�y interest in the Rents
<br />
|