|
��14�7971
<br /> L7EE� C]F TRUS`T
<br /> Loan N�: '��'��$1537 �Cantinued} Page a
<br /> SECURITY AGREENlENT; FINANC�NG �TATENIENTS. The �olf�win� provisi�ns relating �o �this Deed of Trust as a
<br /> s�curity agreement are a part o�this I�eed of Trust:
<br /> 5ecurity ►4greemen�. This instrument shall constitute a 5��urity Agreement to �the extent any of the Proper�y
<br /> constitu�es fixtures, and L�nder shall have all of the rights of a secured party under the Uni�F�rm Commercia� �vde
<br /> as amended fr�m tim�to timeq
<br /> S�curity [nteres#. lJpon request by Lender, Trus�or shall take whatever actian is requested by Lender to perfect
<br /> and con�inue Lender's security interest in the P�rsona� Property. In additivn to recording this ❑eed �f Trust in the
<br /> real prvperty recards, Lender may, at any time and without furth�r authvri�at�on frvm Trustor, fiie execut�d
<br /> counterparts, copies or repraductions of this Deed o� Trust as a �inancin� statement. Trus�tor shall reim�urse
<br /> Lender fior al! expenses incurred in perfecting or continuing �his security interest. L1pon default, Trustor sha�l not
<br /> remo�e, sever ar detach �he Personal Property fram the P�vperty. lJpon �lefault, Trustor shall assembie any
<br /> Persona! Property nat affixed �v the Pr�perty in a manner and at a pla�e reasonabfy c�nvenien� to Trustor and
<br /> Lender and make it available to Lender wi�h�n three �3� days after re�eipt af wr��ten demand fram Lender to �he
<br /> extent perm�tted by applicable law.
<br /> Addresses. The mailing addresses of Trus�or tdebtor} and L�nder �secured party} from which information
<br /> c�ncernin� the security interest gran�ed by this De�d of Trust may be ob�ained �each as required by the Uniform
<br /> Commercial Codey ar�as stated on the firs�page of this D�ed vf Trust.
<br /> FURTHER ►4S5URANCES: ATT�RNEY-INWFACT. The �ollowing prt��isions re�a�ing �o further assurances and
<br /> attorney-in-fact are a par�af this Deed o�Trust:
<br /> Further�4ssurances. At any time, and from time to �irne, upon request of Lender, Trus�or wi[I mal�e, execute and
<br /> deliWer, or wil[ Gaus�ta be made, executed or delivered, �o Lend�r or to Lender's design�e, and vtirhen re�uested by
<br /> Lender, �ause �v be filed, recorded, re�i�ed, or rerecorded. as th� case may be, at such �imes and in such offices
<br /> and pla�es as Lender may de�m appropriate, any and all such martgages, deeds of trust, se�urity deeds, se�urity
<br /> agreements, financing statements, continuatian stat�ments, instruments o� fur�her assurance, �erti�i�ates, and
<br /> other documen�s as may, in th� svle opinion �f Lender, be necessary or desirab�e En ordsr�o effectua�te, complete,
<br /> psrfect, �ontinu�, ar prese��e �1� Trus�vr's obliga��ons under the Note, this Deed o# Trus�� and �he R�lated
<br /> Do�uments, and {�} the ;iens and security int�res�s created �y this Deed o�Trust as f�rst and prior liens on �he
<br /> Prflperty, whe�h�r nov� owned or hereafter acquir�d by Tru��or. Unless prohibited by law �r Lender agrees�o the
<br /> cantrary in wri�ing, Trus�or shall reimburse Lender for all casts and expenses incurred �n cannection with the
<br /> matters re�erred�a in this paragraph.
<br /> ►4ttorney-in-Fact. If Trust�r fails tv do any of th� things re�er�ed to in �he pr�c�ding paragraph, Lender may do so
<br /> for and in the name of Trustor and af Trustor's expense. Far such purpases, Trustor h�reby irre�vcab�y appoints
<br /> Lender as Trustor's at�orney-in-fact for�the purpos�af mal�ing, executing, deli��ring, filin�, record�ng, and doing al�
<br /> other thin�s as may be necessary ar desirable, in Lender's snle opinian, to accomplish the rnatters referred to in
<br /> �he pr�c�ding paragraph.
<br /> FULL PERFURMANGE. If Trustor pays all the Indebtedness, including withvu�limitation all future advances, wh�n due,
<br /> and otherwise performs all �he obligatians impased upon Trust�r under this D��d vf Trust, Lender shafl exe�ut� and
<br /> de[iver �o Trustee a requ�st for fiull recanveyance and shall execute and deli�er �v Trustor suitable s�atements vf
<br /> termination af any �inancing ��atemertt on file evid�ncing Lender's securi�y interest in the R�nts and �he P�rsanal
<br /> Proper�y. Any recon�eyance fee r��uired by la�nr shall be paid by Trustar, if permit�ed by app�icabfe �aw,
<br /> EVENTS t]F DEFAULT. At Lender's option, Trustar will be in de�aul� under this D�ed of Trust if any o�the following
<br /> happen:
<br /> Payrnen�t❑efault. Trustor fails tv make any payment when due under the Indebtsdness,
<br /> Break D�her Prvmises, Trustor breaks any pramise made to Lender or fails to perform promptfy at the time and
<br /> s�ric�ly in the manner provided in this Deed af Trust or in any agreemen�related to�his Deed flf Trust.
<br /> �ompliance Default. Failure ta camply with any other term, obligation, covenan�t or condition Contained in this
<br /> Deed�f Trust, the Not�or in any af the Rela�ed Documents.
<br /> Defauit vn O�her Paymen�s. Failur�of Trustar wi�thin the time required by this Deed of Trust�o make any payment
<br /> for�axes or insurance. or any other payment necessary tQ pr�vent fi�ing of ar ta effect discharge of any lien.
<br /> FaEse Statements. Any representa�ion or stat�ment mad� ar furnished t� Lender by Trustar or on Trustor's behalf
<br /> under this aeed a�Trust ar �he Related Documents is false ar misleading in any material respect, ei�her now or at
<br /> th�time made vr furnished.
<br /> DefectiWe Gollateraliza#ion. This Deed of Trus� vr any o� the Relat�d Documents ceases �a be in full f�rce and
<br /> effect �including fai�ure ��F any collateral dacument �o create a �ali� and p�rf�ct�d security in�erest ar lieny at any
<br /> time and �ror any reason.
<br /> Dea�h or Insol�en�y. The dea�h of Trus�or, �he �nsol�ency o�Trustor, th� appoin�ment o�a rec�i�er for any par�of
<br /> Trustor`s proper�y, any ass�gnment �or the benefi� o� credi�ars, any type of credi�or v�rorkou�, vr the
<br /> cvmmen�emen�o�any pro�eeding under any bankruptcy ar insvl�ency laws by�r against T'rustor.
<br /> Taking af the Property. Any �reditor ar gaWernmental agency tries t� ta�ce any a� �he Property ar any vther of
<br />
|