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201404183
<br /> DEED OF TRUST
<br /> Laan Mo: 1 7 1 1 292-3 (COCltiniied} Page 4
<br /> the Real Property. Trustor shall reimburse Lender for all taxes, as described below, together with alt expenses
<br /> incurred in recording, perfecting or continuing this aeed af Trust, including without limitation all taxes, fees,
<br /> documentary stamps, and other charges'for recording or registering this Oeed of Trust.
<br /> Taxes. The following shall constitute taxes to which this section applies: {1} a specific Yax upon this type of
<br /> Deed of Trust or upon all or any part of the Indebtedness secured by #his Deed of Trust; (2f a specific tax on
<br /> Borrower which Borrower is authorized or r�quired tn deduct fram payments on the Indebtedness secured by this
<br /> type of Deed o#Trust; {3] e tax on this type of Deed of Trust chargeable against the Lender or the holder of the
<br /> No#e; and (�-1 a specific tax an all or any portion of the Indebtedness or on payments af principaf and inYerest
<br /> made 6y Borrawer.
<br /> Subsequent Taxes. If any tax to which this section applies is enacted subsequent ta the date of this Deed of
<br /> Trust, Yhis event shall have tha same effect as an Event of Default, and Lender may exercise any or all of its
<br /> available remedies for an Event of Defau[t as provided 6elow untess Trustor either (1) pays the Yax before it
<br /> becomes delinquent, or {2) contests the tax as prouided above in the Taxes and Liens section and deposits with
<br /> Lender cash or a sufficient corporate surety hand or other security satisfactory to Lencfer,
<br /> SECURITY A�RE�MENT; FINANCING SFATEMENTS. The fallowing pro�isions relating to this Deed of Trust as a
<br /> security agreement are a part af this Deed of Trust:
<br /> Security Agreement. This instrument shall constitute a Sec�rity Agreemant to the exten# any of the Property
<br /> constiiutes fixtures, and Lender shall have all of the rights of a secured party under the UniforrrE Commercial Code
<br /> as amended from time to time.
<br /> 5ecurity Interest. Upan request 6y Lender, Trustor shall take whatever action is requested by Lender to perfect
<br /> and continue Lender's security interest in the Rents and Personal Property. In addition to recording this tieed of
<br /> Trust in the real property fOCDFCIS, 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 shal[
<br /> reimburse Lender for a[I expenses incurred in perfacting or continuing this securi#y interest. Upon default, Trustar
<br /> shall not remove, sever ar detach the Persnnal Proper#y fram the Property. Upon defauEt, Trustor shall ass�mble
<br /> any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor and
<br /> Lender and make it available to Lender within three ;31 days after receipt of written demand from Lender to the
<br /> extent permitted by applicable law.
<br /> Addresses. The mailing addresses of Trustor {debtnr) and Lender Isecured party} from which information
<br /> concerning the sacurity interest granted by this fJeed of Trust rrtay be obtained {each as required by the Uniform
<br /> Commerciel Code} are as stated on the first page of this Deed of Trust.
<br /> FURTHER ASSURANCES; A7TORNEY-IN-FACT. The following provisions relating to further assurances and
<br /> attorney-in-fact are a part af this Deed o#Trust:
<br /> Further Assurances. At any time, and from time to time, upon reguest of Lender, Trustor wil[ make, execute and
<br /> deEiver, or wili cause to be macle, executed or delivered, to Lender ar to Lender's designee, and when requested by
<br /> Lender, cause to be #iled, recorded, refiled, or rerecorded, as the case may be, at such times and in such offices
<br /> and places as Lender may deem appropria#e, any and all such mortgages, deeds af trust, security deeds, security
<br /> agreements, financing statements, continuation statements, instruments of further assurance, certificates, and
<br /> other documents as may, in the so[e opinion of Lender, be necessary or desirable in order to effectuate, complete,
<br /> perfect, continue, or preserve {11 Borrower's and Trustor's obligations under the Note, this deed of Trust, and
<br /> the Related bocuments, and [2} the liens and security interests created by this 17eed of Trust on the Praperty,
<br /> whether naw awned or hereafter acquired by Trustor, �fnless prohibited by[aw or Lender agrees to the contrary in
<br /> writing, Trustor shall reimburse Lender far all costs and expenses incurred in connection with the matters referred
<br /> to in this paragraph.
<br /> Attorney-in-Fact. If Trustor fails to da any of the things referred to in the preceding paragraph, Lender may do so
<br /> for and in the name af Trustor and at Trustor's expense. For such purposes, T'rustor hereby irrevocably appoints
<br /> �ender as TrustoPs attorney-in-fact for the purpose af making, executing, delivering, filing, recording, and doing all
<br /> other things as may he necessary or desira6le, in Lender's sole opinion, to accomplish tF�e matters referred to in
<br /> the preceding paragraph.
<br /> FULL P�RFORMANCE. If Borrower and Trustor pay all the Indebtedness when due, and Trustor otherwise performs all
<br /> che obligations imposed upon Trustor under tE�is [?eed of Trust, Lender shaEl execute and deEiver to Trustee a request for
<br /> fufl reconveyance and shali execute and defi�er to Trustor suitable statements of#ermination pf any financing statement
<br /> on file evidencing Lender's security interest in the Rents and the Personal Property. Any reconvayance fee required 6y
<br /> law shall be paid by Trustor, if permitted by applica6le law.
<br /> EVENTS OF DEFAULT. Each of the follnwing, at Lender's option, shail constitute an Event af �efault under this deed
<br /> of Trust:
<br /> Payment Defautt. 8orrower fails to make any payment when due under the lndabtedness.
<br /> Other Defaults. Borrower or Trustor fails to comply with or to perform any other term, ab[igation, covenant or
<br /> condition contained in this Deed of Trust or in any of the Related �ocuments or to comply with or to perform any
<br /> term, obligation, covenant or condition conta9ned in any other agreement between Lender and Borrower or Trustor.
<br /> Compliance Default. Failure ta comply with any other term, ohligation, covenant or condition contained in this
<br /> Deed o�Trust, the Note or in any of the Related Documents.
<br /> Default on Other Payments. Failure pf Trustor within the time required by this de�d o4 Trust to make any payment
<br /> for taxes pr insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br /> Default in Favor of Third Parties. Shauld Borrower or any Grantor dafault under any loan, extension o# credit,
<br /> security agreement, purchase or safes agreement, or any other agreement, in favor of any other creditor or person
<br /> that may materiaEly affect any of Borrower's or any Grantor's property or Borrower's ability to repay tF�e
<br /> Indebtedness or Borrower's or Grantor's a6iEity to perfor�n their respective obligations under this �eed of Trust or
<br /> any o#the Related Documents.
<br /> False Statements. Any warranty, representation or s#atement made or furnished to Lender by Borrower or Frustor
<br /> or on Barrower's or Trustor's behalf under tf�is �eed of Trust or the Related Documents is fialse or misleading in
<br /> any ma#erial respect, either now or at the time made or furnished or 6ecomes false or mis[eading at any time
<br /> thereaftar.
<br /> Defective Collateralization. 7his Deed of Trust or any of the Related Documents ceases to be in full fiorce and
<br /> effect {including fai[ure of any coElateral document to create a valid and perfected security interest or lien} at any
<br /> time and for any reason.
<br /> Death or Insolvency. The dissolution of Trustor's {regerd[ess of whether election to continue is madel, any
<br /> member withdraws#rom the limited liability company, or any other termination of Borrowar's or Trustor's existence
<br /> as a going business or the death of any member, Yhe insalvency of Borrower or Trustor, the appoin#ment of a
<br /> receiver far any part nf Borrower's or Trustor's property, any assignment for the benefit of creditors, any type of
<br /> creditor workout, or the commencement of any prnceeding under any bankruptcy ar irssolvency laws by or against
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