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DEED OF TRUST 2 0 0 0 01015 Page 4 <br /> (Continued) <br /> not be construed as curing the default so as to bar lender from any remedy that it otherwise would have had. <br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust: <br /> Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all <br /> liens and encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or in <br /> any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of <br /> Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender. <br /> Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property <br /> against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the <br /> interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. Trustor may be the <br /> nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding <br /> by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may <br /> request from time to time to permit such participation. <br /> Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies wiih all existing applicable <br /> laws, ordinances, and regulations of governmental authorities. <br /> Survivai of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execution <br /> and delivery of this Deed of Trust, shall be continuing in nature and shall remain in full force and effect uniil such time as Trustor's <br /> Indebtedness is paid in full. <br /> EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust: <br /> Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to the lien securing payment of <br /> an existing obligation. The existing obligation has a current principal balance of approximately 5125506. Trustor expressly covenants <br /> and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any default on such indebtedness, any default <br /> under the instruments evidencing such indebtedness, or any default under any security documents for such indebtedness. <br /> No Modification. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other security <br /> agreement which has priority over this Deed of Trust by which that agreement is modified, amended, extended, or renewed without <br /> the prior written consent of Lender. Trustor shall neither request nor accept any future advances under any such security agreement <br /> without the prior written consent of Lender. <br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust: <br /> Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writi�g, and Trustor shall promptly <br /> take such steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party in such <br /> proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own <br /> choice, and Trustor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by <br /> Lender from time to time to permit such participation. <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 <br /> to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of <br /> all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation. <br /> IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental <br /> taxes, fees and charges are a 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 <br /> and take whatever other action is requested by Lender to perfect and continue lender's lien on the Reaf Property. Trustor shall <br /> reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed <br /> of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of <br /> Trust. <br /> Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust or upon <br /> all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Trustor which Trustor is authorized or <br /> required to deduct from payments on ihe Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust <br /> chargeable against the Lender or the holder of the Note; and (4� a specific tax on all or any portion of the Indebtedness or on <br /> payments of principal and interest made by Trustor. <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 <br /> have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as <br /> provided below unless Trustor either (1� pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the <br /> Taxes and 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 <br /> part of this Deed of Trust: <br /> Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures or <br /> other personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended <br /> from time to time. <br /> Security Interest. Upon request by Lender, Trustor shall execute financing statements and take whatever other action is requested by <br /> Lender to perfect and continue Lender's security interest in the Personal Property. In addition to recording this Deed of Trust in the <br /> real property records, Lender may, at any time and without further authorization from Trustor, file executed counterparts, copies or <br /> reproductions of this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or <br /> continuing this security interest. Upon default, Trustor shali assemble the Personai Property in a manner and at a place reasonably <br /> � <br />