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0�-24-2000 DEED OF TRUST ,. •�(��.�(��-$ i 9 Page 5
<br /> Loan No 766144 (Continued) . ' �
<br /> instruments evidencing such indebtedness,or any default under any security documents for such indebtedness.
<br /> Default. If the payment of any installment of principal or any interest on the Existing Indebtedness is not made within the time required by the
<br /> note evidencing such indebtedness, or should a default occur under the instrument securing such indebtedness and not be cured during any
<br /> applicable grace period therein, then,at the option of Lender,the Indebtedness secured by this Deed of Trust shall become immediately due
<br /> and payable,and this Deed of Trust shall be in default.
<br /> No Modification. Trustor shall not enter into any agreement with the holder of any mortgage,deed of trust, or other security agreement which
<br /> has priority over this Deed of Trust by which that agreement is modified,amended, extended, or renewed without the prior written consent of
<br /> Lender. Trustor shall neither request nor accept any future advances under any such security agreement without the prior written consent of
<br /> Lender.
<br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust.
<br /> Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or
<br /> purchase in lieu of condemnation,Lender may at its election require that all or any portion of the net proceeds of the award be applied to the
<br /> Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonable
<br /> costs,expenses,and attorneys'fees incurred by Trustee or Lender in connection with the condemnation.
<br /> Proceedings. If any proceeding in condemnation is filed,Trustor shall promptly notify Lender in writing, and Trustor shall promptly take such
<br /> steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party in such proceeding,but Lender shall
<br /> be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Trustor will deliver or
<br /> cause to be delivered to Lender such instruments as may be requested by it from time to time to permit such participation.
<br /> IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes,
<br /> fees and charges are e part of this Deed of Trust:
<br /> Current Taxes,Fees and Charges. Upon request by Lender,Trustor shall execute such documents in addition to this Deed of Trust and take
<br /> whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall reimburse Lender for all
<br /> taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including without
<br /> limitation all taxes,fees,documentary stamps,and other charges for recording or registering this Deed of Trust.
<br /> Taxes. The following shall constitute taxes to which this section applies: (a)a specific tax upon this type of Deed of Trust or upon all or any
<br /> part oi the Indebtedness secured by this Deed of Trust; (b)a specific tax on Borrower which Borrower is authorized or required to deduct from
<br /> payments on the Indebtedness secured by this type of Deed of Trust; (c)a tax on this type of Deed of Trust chargeable against the Lender or
<br /> the holder of the Note; and (d) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by
<br /> eorrower.
<br /> Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust,this event shall have the
<br /> same effect as an Event of Default(as defined below),and Lender may exercise any or all of its available remedies for an Event of Default as
<br /> provided below unless Trustor either (a)pays the tax before it becomes delinquent,or (b)contests the tax as provided above in the Taxes and
<br /> Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of
<br /> this Deed of Trust.
<br /> Security Agreement. This instrument shall constitute a security agreement to the extent any of the Property constitutes fixtures or other
<br /> personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to
<br /> time.
<br /> Security Interest. Upon request by Lender,Trustor shall execute financing statements and take whatever other action is requested by Lender
<br /> to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real
<br /> property records, Lender may,at any time and without further authorization from Trustor,file executed counterparts,copies or reproductions of
<br /> this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security
<br /> interest. Upon default,Trustor shall assemble the Personal Property in a manner and at a place reasonably convenient to Trustor and Lender
<br /> and make it available to Lender within three(3)days after receipt of written demand from Lender.
<br /> Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party), from which information concerning the security interest
<br /> granted by this Deed of Trust may be obtained(each as required by the Uniform Commercial Codel,are as stated on the first page of this Deed
<br /> of Trust.
<br /> FURTHER ASSURANCES; ATTORNEV-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this
<br /> Deed of Trust.
<br /> Further Assurances. At any time, and from time to time, upon request of Lender,Trustor will make, execute and deliver, or will cause to be
<br /> made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or
<br /> rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate,any and all such mortgages,
<br /> deeds of trust,security deeds,security agreements,financing statements,continuation statements,instruments of further assurance,certificates,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or
<br /> preserve (a) the obligations of Trustor and Borrower under the Note, this Deed of Trust, and the Related Documents, and (b) the liens and
<br /> security interests created by this Deed of Trust on the Property,whether now owned or hereafter acquired by Trustor. Unless prohibited by law
<br /> or agreed to the contrary by Lender in writing,Trustor shall reimburse Lender for all costs and expenses incurred in connection with the matters
<br /> referred to in this paragraph.
<br /> Attorney-in-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
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby irrevocably appoints Lender as Trustor's attorney-in-fact for the purpose
<br /> of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph.
<br /> FULL PERFORMANCE. If Borrower pays all the Indebtedness, including without limitation all future advances, when due, terminates the line of
<br /> credit, and otherwise performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a
<br /> request for full reconveyance and shall execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing
<br /> Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted by
<br /> applicable law.
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