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201403958
<br /> DE�D OF TRUST
<br /> Loan Na: $72Q59677 (Con'k1r11led) Page 4
<br /> participatian.
<br /> Application of Net Proceeds. If all or any part of the Property is condemned by eminent dorr�ain proceedings or by
<br /> any proceeding or purchase in lieu of condemnation, Lender may at its alection require that a{I or any portion of the
<br /> net proceeds of the award be applied ta the Indebtedness or the repair or restoration of the Property. The net
<br /> proceeds of the award shal] mean the award after payment of all reasonable costs, expenses, and attorneys' fees
<br /> incurred by 7rustee or Lender in connection with the condemnation.
<br /> IIU[POSITIDN OF'fAXES, FEES AND CHARGES SY GOVERNMEN3"AL AUTHORITIES. 3he following provisions relating
<br /> to governmental taxas, fees and aharges are a parC of this Deed of Trust:
<br /> C�rrent Taxes, Fees and Charges. Upon request by Lender, 7rustar sha11 execute such documents in addition to
<br /> this Deed of Trust and take whatever other actian is requested 6y Lender to perfect and continue Lender's fien ors
<br /> the Rea] Property. Trustar shaU reimburse Lender for all taxes, as described be[ow, together with aIl expenses
<br /> incurred in recording, pesfecting or continuing this Deed of Trust, including without limitation ali taxes, fees,
<br /> documentary stamps, and other charges for recording or regisCering this Deed o'f Trust.
<br /> Taxes. �he following shall canstitute Yaxes to which this section applies: (1] a specific tax upon this type of
<br /> �eed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2} a specific tax on
<br /> Borrower which Borrower is auYhorized or required to deduct from payments on t[�e fndebtedness secured by Yhis
<br /> type of Deed of Trust; I3� a tax on this type of Deed of Trust chargea6le against the Lender or the holder of the
<br /> Credit Ao�reement; and [4} a specific tax on all or any portion of the Indebtedness or on payments of principa[ and
<br /> ir�terest rroade by Borrower.
<br /> S�bsaqeaent Taxes. lf any tax to which this section applies is enacted subsequent to the date of this Deed of
<br /> Trust, this event shal[ have the same effect as an Event of Default, and Lender may exercise any or all of its
<br /> available remedies for an EvenY of ❑efaulY as provided be[ow unless Trustor either (1) pays the tax before it
<br /> bacomes cfelinquent, or i2] contests the tax as provided above in the Taxes and Liens section and deposits with
<br /> �ender cash or a sufficient corporate surety bond or other security sa'Cisfactory to Lender.
<br /> SECLfRITY AGRE�MENT; F[I�AIVCING S7A7EI41l�IVTS_ The following pro�isions relating to #his Deed of Trust as a
<br /> security agreement are a part of this Deed of Trust:
<br /> Security Agreement. 7his instrument shall constitute a Security Agreemant to the extent any of the Property
<br /> consYitutes fixtures, ar�d Lender sha[I have all of tE�e rights of a secured party under the Uniform Commercial Code
<br /> as amended from time ro time.
<br /> Security interest. Upon request by Lender, Trustor shall take w[�atever action is requssted by Lender to perfect
<br /> and continue Lender's security interest in the Persona! Property. In addition to recosding this Deed of 7rust in the
<br /> real property records, Lender may, at any time and without further authorizat:on from Trustor, fi[e executed
<br /> counterparts, copies or reproductions of this Deed of Trust as a financing s�aiement. Trustor shalS reimburse
<br /> Lender for afl expenses incurred in perfecting or continuing this security interest. Upon default, Trustor shall not
<br /> remove, sever or detach the Personal Property frosn the Property. Upon default, 7rustor shall assemble any
<br /> Personal Property not affixed to the Property in a manner and at a place reasanably convenieRt to Trustor and
<br /> Lender and rreake it a�ai[a6[e to Lender within three i31 days after receipt of written demand from Lender to the
<br /> extent permiited hy applicable law.
<br /> Addresses. The mailing addresses of Trustor [debtor) and Lender ;secured party) from which 'snformation
<br /> concerning tha security interest granted hy this Deed of Trust may 6e obtained (each as required by the Uniform
<br /> CommerciaE Code) are as stated on the first page of this Deed of 7rust.
<br /> FI�RTHEFi ASSUEiANC�S; A77QRNEY-IN-FACT. The following provisions relating to further assurances and
<br /> attorney-in-fact are a part of this Deed of Trust:
<br /> further F�ssurances. At any time, and frorn time to time, upon request of Lender, Trustor will make, execute and
<br /> deliver, cr wi[I cause to be made, executed or del'svered, to Lender or to Lender`s designee, and whan requested by
<br /> Lender, cause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and in such o�fices
<br /> and places as Lender may daem appropriate, any and all such mortgages, deeds of trust, security deeds, security
<br /> agreements, financing staternents, continuation statements, instruments of further assurance, certificaTes, and
<br /> other documents as may, in the sole opinian of Lender, be necessary or desirable in order to effectuate, complete,
<br /> perfect, continue, ar preserve (1) Borrower's and Trustor's obl3gations under the Credit Agreement, this Deed of
<br /> Trust, and the Related Documents, and (2) the ]iens and security interests created by this �leed of Trust on the
<br /> Property, whet[�er now owned or herea�Fter acquired by Trustor. UnIess prohibited by law or Lend�r agrees to the
<br /> contrary in writing, Trustor sha[I reisnburse Lender for a[I costs ancf expenses ineurred in eonnection with the
<br /> matters referred to in this paragraph.
<br /> Attorney-in-Fact. If Trustor fai[s to do any of the th4�gs referred to in the preceding paragraph, Lender may do so
<br /> for and in the name af Trustar and at Trustor's expense. For such purposes, Trustor heseby irrevocably appaints
<br /> Lender as 7rustor's attorr�ey-in-fact for the purpose of making, executing, delivering, filing, recording, and doing all
<br /> other things as may be necessary or desirable, in Lender's sole opinion, to accomplish Ehe matters referred to in
<br /> the preceding paragraph.
<br /> FULL PERFOF�MANCE. If Borrower and Trustor pay all the Indebtedness when due, terminates the credit line account,
<br /> and Trustor otherwise performs a[I the obligations imposed upon Trustor under this Deed of 3rust, Lender shall execute
<br /> and deli�er to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable statements of
<br /> termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personaf
<br /> Property. Any reconveyance fee required by[aw shafl be paid by Trustor, if permitted by app�icable law.
<br /> EVENTS OF DEFAULT. Trustor will be in defau[t under this Deed of Trust if any of the fallowing happen: {q1 Trustor
<br /> commits fraud or makes a material misrepresentation at any time in connection with the Creclit Agreement. 7his can
<br /> inc[ude, for example, a false staterr�ent a6out Borrawer's or Trustor's income, assets, liabilities, or any other aspects of
<br /> Borrower's or Trustor`s financial condition. (B} Bprrower does not meet the repayment terms of the Credit Agreement.
<br /> (C} Trustor's acTion or inaction adversety affects the collateral or Lender's rights in the col[ateral. This can include, for
<br /> example, failure to maintain required insurance, wasta or destructive use of the dweping, failure to pay taxes, death of
<br /> all persons liable on the account, transfer of title or sale of the dwetling, creation of a senior [ien on the dwelling
<br /> without Lender's permission, foseclosure by the holdsr of another lien, or the use of funds or the dwe[ling for prohibiTed
<br /> purposes.
<br /> REGHTS AN� REMED[ES ON DEFAULT. If an Event of Default occurs under this Deed of 7rusi, at any time thereafter,
<br /> Trustee or Leo�der may exercise any one or more of the following rights and remediss:
<br /> Acceleration ltpon Default;Addit9ona[Remedies. If any Event of �efault occurs as per the terms of the Credit
<br /> Agreement secured hereby, Lender may declare all ]ndebtedness secured �y this Deed of Trust to be due and
<br /> payable and the same shall thereupon become due and payah[e without any presentment, demand, protest or
<br /> notice of any[cind. Thereafter, LeRder may:
<br /> {a} �ither in person or by agent, with or withou# bringing any action or proceeding, or 6y a receiver
<br /> appointed by a court and without regard to the adequacy of its security, enter upon and take possession
<br /> of the Property, or any part thereof, in its own name ar in the name of Trustee, and do any acts which iT
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