|
' 201406488
<br /> ' DE�D OF T�U�T
<br /> ,(Cot��inu�:d) Page 4'
<br /> Taxes. The following shall cans#itute'taxes to which this sectio❑ applies; (1),' a specific fax upon this,'type of'
<br /> Deed of Trust or upon all or any part of#he Intlebtedness secured by,this Deed of Trust; (2} a specific tax on
<br /> Trustor which Trustor is authorized or,'required to deducf from payments on the lndebtedness secured by this type,'
<br /> of Deed of Ttust; (3}� a tax an this type of Deed of 7rust chargeable against the�'Lender or the halder of fhe Note;���'
<br /> and��,'�(4) a specifie tax on all���br any�ortfon of��'�the Indebtedness or on payments��'�of principal and'�interest made by��,'�
<br /> Trustor.
<br /> Subsequent Taxes. If any tax to which this section appfies is enacted subsequent ta the date'of this 'C)eed of'
<br /> Trust, this �vent shall have the same effect as an Event of Default, and l.ender may exercise''any or all of its'
<br /> available remedies for an Event caf Default as'pravided below unless Trustor either (1} pays the tax befare it'
<br /> becornes deiinquent, or (2) contests the tax as provided abave in the Taxes and Liens section and deposits with
<br /> Lender cash or a su�cient corporate surety bond or oth'�r seeurity satisfactory to Lender. '
<br /> SECURITY AGRE���NT, �,'�FINANCI��G 5TkTE�7�NTS. The fflllowing provis�ions relating to this Deed of Trust as a�'�
<br /> security agreement are a pari of this L�eed of 7rust: '
<br /> SecUrity Agreement. This instrument Shall constitute a Secu�ity Agreement to the extent any af the Property
<br /> can5titutes fixtures, and Lender shall haue all of the rig,hts of a secured`party under the Uniform Gammercial Code``
<br /> as amended from time to time.
<br /> Security Interest. Upon request by Lender, Trustor shall Yake whatever action is requestetl by Lender to'perfect'
<br /> and continue'Lender's security interest in the Personal Propertyl In addition to recording this Deed af Trust in the'
<br /> real,property rscords, Lendee may, at any time and without'further 'authorization from Trustnr, file executed '
<br /> counterparts; copies>or reproductions'of this 'Deed of'Trust as a financing stat�rrrent.'' Trustor shall reimburse'
<br /> Lender fc�r al! expenses incurred in pertecting or continuing this security interest. Upon'default, 1"rustor sfiall not'
<br /> remove, sever or detach the' Personal Property from'the Property. Upon defaul#, Trustor shall assemble any'
<br /> Personal Property not aifixsd'#o the Property,'in a manner and at a piace reasonably convenient to Trustar a�d '
<br /> Lender and make it available to Lender within``three (3) days after receipt of written demand �rom Lender to the'
<br /> extent permitted by applicabie'Iaw.
<br /> Addresses. `The mailing addresses of Trustor (debtor) and` Lender''(secured party} >�from which information`
<br /> concerning the securify interest granted by this Deed of Trust may be obtained {each as required by the'Uniform '
<br /> Gommercia!Gode)are as stated on the first page of this Deed of Trust. '
<br /> FURTHER ASSURANCES; ATTORNEY-IN=FACT ' The following ' provisions relating to I�ur#her 'assurances and
<br /> attomey-in-fact are a part of this Deed of Trust:
<br /> Further Assurances. At any time, and from time ta time, upon request of Lender,Trustor will make, execuie and'
<br /> deliver,or wiil quse to be made,executed or deNvered'; ta Lender or to Lender's'designee,and when requested by,'
<br /> Lender, cause to be filed, recorded, refiled, or rereeorded, as the case rriay be, at such times antl in sueF�nffices``
<br /> and,piaces as Lender may deem appropriate, any and a►1 such mortgages, deecis of trusf; seeuriry deeds,,securiry,'
<br /> agreements, 'finanang statements, continuation statements, instruments of further assurance, certificates, and'
<br /> other documerrts as may, in the sole opinion of Lender,'b�necessary or desirable in order to effectuate,complete,,'
<br /> perFect, continue, or'preserve (1} 'Trustor's obligations under the Nc�te, this beed af 7rust, and the Related
<br /> Rocurr�nts,'and (2} the BenS and secUrity interests created by this Deed of Teust as first and,prior liens on fhe'
<br /> Properly,whether now owned or hereafter acquired byl Trustflr'. Unfess'prc�hibitetl by law or Lender agrees ta the
<br /> Contrary in writing, Trustor shall reimburse Lender for all costs and e�nses'incurred in connection with the'
<br /> matters referred to in this paragraph. '
<br /> Attorney-in-Fact. If 7rustor fiails to do any of the things referred to in the preceding paragraph, Lender may do so'
<br /> for arrd'+n the name of Trustof and at''Trustor's expense. For such purposes, Trustor he��by irrevocably appoints'
<br /> Lender as Trustor's attorney-in-fiact for the purpose of making,executing,delivering,filing, record"ing, and doing all
<br /> other Things as may be necessary or desirable, in Lenders sole opinion, to accomplish the matters referred to in'
<br /> the preceding paragraph.
<br /> FULL PERFORMANCE. If Trustor, pays all the Indebtedness when due, and ofherwise perfarms alE the oblEgations'
<br /> imposetl,'upon Trustor under this Deed of Trust;' Lender' shall execute and deiiver ta Trustee a'request for fuil
<br /> eeconveyance and shall execute and deliuer to Trustor sui#able statements pf'termination of any financing statement an'
<br /> Ifile evidencing Lender's security interest in the R�nts and the Personal Property. Any'�econveyance fee required by law'
<br /> sha1M be paid by 7�ustor, if permitted by applicable law.
<br /> EVENTS �f DEFAULT. At Lender's option, Trusto�will be'in default under this [7eed of Trust if any`of the foilowing'
<br /> happen: '
<br /> Payment Defauit. Trustor fails to make a�y payment when due under the Indebtedness. '
<br /> Break Other IPramises. Trustor breaks any promise made to Lender or fails to perform promptly'at th� time and'
<br /> strictly fn the'�manner�'�provided in this Qeed of Trust or in any agreement related to this Deed of Trust.
<br /> Compliance Default. ' Failure ta cc�mply with any other term, obligation, covenant or condition cantained in this '
<br /> Deed af Trust,the Note or in any of tlie Related documents.
<br /> Default on Other Payments. Failure of'Trustor within the time required by tYtis Deed of Trust to make any payment
<br /> for taxes or insurance, or any;other payment necessary'to prevent filing of or to effect discharge of any lien.
<br /> Default in Favor of Third Parties. Should Grantor defauit u�der any loan, extension o# credit, seeurity agreement, '
<br /> purchase or sales agreement,>.or any ather agreement,,lin favor of any other creditor dr person thai may mjaterially,'
<br /> affeet any of Grantc�r"s praperty or Grantor's' ability to repay'the Indebtedness or Grantor's ability to `perform'
<br /> Grantor's obligations under this Qeed of Teust or any of the Related Documents.
<br /> False Statements. Any representation or statement made or fucnished to Lender'by Trustor or on'Trustor`s behal#'
<br /> under this Deetl of 7rust or The Related Documents is false or misleading in any;,material respect,'either now or at
<br /> the time mads or furnished. '
<br /> Defectiue CollateraBzation. This Deed of Trust or any of the Related Documents ceases to be in fu�l force and'
<br /> effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any
<br /> time'and for',any reason.
<br /> Death or Insolvency. ,'The death of Trustor,the insolve�cy of Trustor,the appointment of a receiver for any part of'
<br /> Trustor's property, ',any assignment' for the benefit af creditors, any type of cceditor workout„'or the'
<br /> commencement of any proceeding under any bankruptcy or insolvency laws by oF against'Trustor.``
<br /> Taking of the Property. Any,'creditor'or governmentaf agency fries to take any of the 'Property ar any other of'
<br /> Trustor's property in' which Lender has a lien. This'ineludes taking 'of, garnishing of or levying on Trustor's'
<br /> aceounts with Le�de�. However, if T�ustor disputes in good faith whether the>claim on which the takirtg of fhe'
<br /> Property is basect is'valid or'reasonable, and if Trustor gives'Lender written notice of the claim and furnishes'
<br /> �ender with monies or a surety bond satisfactory to Lender to satisfy the claim, then this default provisian'will not
<br /> apply,
<br /> Breach of Other Agreement. Any breach by Trustor under the terms of,any othe�agreement between Trustor and'
<br /> Lender that is not remedied within any grace peeiod provided therein, including without�;limitation any agreement'
<br />
|