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201404751 DEED OF TRUST Loan No: 87 OU�941 (COntinued) Page 4 net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shalE mean the award a€ter payment of all reasonable costs, expenses, and attorneys' fees incurred by 7rustee or Lender in connection with the condemnation. IMPO$ITId[1[ OF TAXES, FEES ANd CHARCtiES BY GOVERNMElVTAL ALlTHOR1TlES. 7f�e following provisions relating to governmenta[taxes, fees and charges are a part of this Deed of Trust: Curren#Ta�ces, Fees and Charges. Upon request by Lender, Trustor shal[ execute such documents in addition to this Deed of Trust and take whatever other action is requested hy Lender to perfect and continue Lender's lien on the Real Property. Trustor shal] reimburse Lender for all taxes, as described below, together with alt expenses incurred in recording, perfecting or continuing this Deed of Trust, including without limitation a!I taxes, fees, documentary stamps, and oiher charges for recording or registering this �eed of Trust. Taxes. The following shal] constitute taxes to which this section applies: {1] a specific tax upon xhis type of Deed of Trust or upon al[ or any part of#he Indebtedness secured by this Deed of Trust; (2� a specific tax on Borrower which Borrower is authorized ar required to deduct from payments on the lndebtedness secured by this type of deed of Trust: (3} a tax on this type of Deed of Trust chargeable against the Lencfer or the holder o�the Note; and (4} a specific tax on all or any portion ofi the ]ndebtedness or on payments of principal and interest made by Borrower. Subsequent �axes. Ef any tax to which this section aPplies is enacted subsequent to the date of this Deed of 7rust, this event shail have the same effec# as an Event of Default, and Lender may exercise any or all af its available �emedies fior an Even# of Default as provided below unless Trustor either (lI pays the tax before it becomes delinquent, or [2) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender. SECURl7Y AGREEMENT; FINANC[f�G STATEMENTS. The following provisions relaFing to Fhis Deed of Trust as a security agreement are a part of this Deed of 7rust: Security agreement. T}tis instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and Lender shall have all of the rights of a secured party undar the Uniform Commercial Code as amended from time to time. Security lnterest. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording tF�is Qeed of Trvst in the real properky records, Lender may, at any time and without turther authoriza#ion from Trustar, file executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. Trustor shall reimburse Lender for a!I expenses inc�rred in perfecting or continuing this security interest. Upon default, Trustor shall not �emove, sever or detach the Parsona[ Property from the Property. Upon default, Trustor sha[I assemble any Persona[ Property not affixed to the ProperCy in a manner and at a place reasonably convenient to "frustor and Lender and make it available to Lender within three f3} days after receipt of written demand from Lender io the extent permittec[ by applicable law. Addresses. The mailing addresses of Trustor (de6tor} and Lender isecured party} from which informatio� coneerning the sacurity interest gra�ted by this Deed of Trust may be obteined {each as required by the Uniform Commercial Code} are as stated on the first page of this Deed of Trust. FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following pro�isions relating to further assurances and attorney-in-fact are a part af this �eed of Trust: FUrther Assurances. At any time, and from time to time, upvn request of Lender, Trustar wil] make, execute a�d deli�er, or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be fled, recorded, refiled, or rerecorded, as #he case rr�ay be, at such times and in such offices and places as Lender may deerr� appropriate, a�y ancE al[ such mortgages, deeds of trust, security cfeeds, security agreements, financi�g sta#ements, contine�ation statements, i�str�ments of further assurance, certificates, and other documents as may, in the sole op9nion of Lender, be necessary or desira6le in order to effectuate, complete, perfect, continue, or preserve (1} Borrower's and Trustor`s obligations under the Note, #his Deed of Trust, and the Related Documents, and [2) the liens and security interests created by this Ileed of Trust as first and prior [iens on Yhe Property, whe#her naw owned or hereafter acquired by Trustar. Un[ess prohibited by [aw or Lender agrees to the contrary in writing, Trustor sha[I reimburse Lender for al] costs and expenses incurred in connection with the matters referred to in#his paragraph. Attorney-on-Fact. if Trustor fails to do any of the things referred to in the preceding paragraph, lender may do so for and in the name of Trustor and at Trus#or's expense. For such purposes, Trustor hereby irrevacably appoints Lender as Trustor's attorney-irnfact for the purpose of making, executing, delivering, filing, recording, a�d doing all other things as may be necessary or desirable, in Lender's sole opinion, to accomplish the maYCers referred ta in the preceding paragraph. FULL PERFQRMANCE. If Borrower and Trustor pay a[I the Indebtedness, including without limitation all future advances, when due, and Trustor otherwise performs all the obligations irnposed upon Trustor under ihis Deed of Trust, Lender shall execuce and deliver to Trustee a request far fufl reconveyance arod shal! execuYe and deliver to Trustor suitable statements of termination of any financing statement o� file svidencing Lender's security interest in the fients and the Persos�al Properry. Any reconveyance fee required by law sha�l be paid by Trustor, if permitted by applicable law. EVEiVTS OF DEFAUET. Each of the fol[owing, at Lender`s option, shal[ constitute an Event of Defae�lt under this Deed of TrusE: Payment Default. Borrower fails to make any payment when due under the Indebtedness. Other Defaults. Borrower or Trustor fails to comply with or to perforrn any other term, ob[igafiion, covenant or concfition contained in this Deed of Trust or in any of the Related pocuments or to comply with or to perform any term, obligation, co�enant or condition contained in any other agreement between Lender and Borrower or Trustor. Complian�e Default. Failure to comply with any other term, obligation, covenant or candition contained in this Deed of Trust, the Note or in any of the Re[a#ed Qocuments. Defa�lt om Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or iRsurance, or any otf�er payment necessary to prevent filing of or Yo effect discharge of any[ien. Uefa�lt in Fa�or of Third Parties. Should Borrower or any Grantor defauit under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially a€fect any of Borrower's or any Grantor`s property or Borrower's ability to repay the Indebtedness or Barrower's or Grantor's a6ility to per�arm their respective obligations under this �eed of Trust or any of tha Related Documents. False 5tatements. Any warranty, representation or statement made or f+�rnished to Lender by Borrower or Trustor or on Borrower's or Trustor's behalf under ihis Deed af Trust or the Related Documents is false or misleading in any material respect, eiiher now or ai the tima �nade or furnished or becomes false or misleading at any time thereafter.