|
------- -------.---- .. _ _ -- ��15�3195 . .
<br /> DEED �F TRUST
<br /> Loan No: S'[��S']35 ��antinued� Page 4
<br /> C�NDENiNATI�N, The follo►rving pro�isions relating to condemnati�n praceedings are a part o�this Deed v#Trust: -
<br /> Prviceed�ngs. I� any proceeding in condemnation is filed, Trus�or shall promptly n�tify Lender in writing, and
<br /> Trustar sha!! promptly take such s#eps as may be necessary tv defend the act�on and obtain the a►rvard. Trustor
<br /> may be the n�minal party�n such proceeding, but Lender sha11 be entitled to pa�ticipate in the pr�ceeding and to be
<br /> represented in the proceeding by c�unsel of its own choice, and Trustvr will deli�er or cause to �e delivered to
<br /> Lender such instruments and documentation as may be requested i�y Lender #rvm time t� time to permit such
<br /> participation. -
<br /> Appl�cation vf Net Proceeds. ff ali or any part of the Property is condemned by eminent dvmain proceedings or by
<br /> any prvice�ding vr purchase in li�u of cond�mnation, Lender may at its election �equire�that a!� vr any p�rtion of the
<br /> net prviceeds of the award be appiied to the Indebtedness or th� repa�r or restorati�n of the Property. The net
<br /> proceeds of the award sha�� mean the a.ward after paymen� of all reasanabl� casts, expenses, and attarneys' fe�s
<br /> incurred hy Trustee or Lender in cvnnecti�n with the c�ndemnatian.
<br /> IlVIP�SiTI�N QF TA�CES, FEES AND CHARGES BY G�VERNMENTAL AUTHQRITIES. The ��I[owing pro�isivns refating
<br /> �to go�ernmen#al taxes, fees and charges are a part vf this Deed ❑f Trust:
<br /> Current Taxes, Fees and Charges. Upan �request by Lender, Trustor shall execute su�h doCuments in additivn to
<br /> �his ���d vf Trust and #ake whatev�r other action is requested by Lender to perfect and cvn�inue Lender's lien on
<br /> the Rea� Prvperty. Trustor shall reimburse Lend�r for a!I taxes, as described below, together wiirh a!! expenses
<br /> incurred in record�ng, perfect�ng or continuing this Deed vf Trust, in�luding without limitation al� taxes, fees,
<br /> dacumentary stamps, and other�harges for recording or registering this Deed of Trust.
<br /> Taxes. The following shall constitute taxes tv which this section applies: �1 y a specific tax upon this type of
<br /> De�d of Trust or upon all or any part of the Indebtedness secured by this Deed ❑f Trust; �Zy a specific tax on
<br /> Trustor which Trustor is authvri�ed oT required to deduct from payments on the �nde�tedness secured by this type
<br /> ofi Deed ❑f Trust; �3y a tax vn this type of ❑eed of Trust chargeable against the Lender ar the ho�der af the Nate;
<br /> and �4y a specific tax on al1 or any portion of the �ndebtedness or on payments of princEpal and interest mad� by
<br /> Trustor.
<br /> Suhsequent Taxes. If any tax to which this se�tEon appEtes is enacted subsequ�nt to the date �f this Deed of
<br /> Trus�, this e�ent shalf ha�e the same effect as an E�ent of ❑efault, and Lender may �xercise any or all of �ts
<br /> a�ailable remedies for an E�ent of D�fiauft as pra��ded be[vw unless Trustor either �1 y pays the tax before ifi
<br /> becames delinquent, ❑r �2� cvntests �he tax as pro�ided aho�e in the Taxes and Liens secti�n and deposits with
<br /> Lender cash vr a sufficient corporate surety bond or.other security satisfactory to Lender.
<br /> ,
<br /> SECURITY AGREENlENT; FINANCING STATE�I�lENTS. The foffowing pro�isions relating t❑ this Deed vf Trust as a
<br /> security agreement are a part❑f this Deed of Trust:
<br /> Securi#y Agreement. This instrument shall constitute a S�curity Agreement to the extent any afi the Prvp�rty
<br /> consti#utes �ixtures, and Lender sha�E ha�e all of the rights af a secured party under the Llnifvrm Commercial Code
<br /> as amended from time to time.
<br /> Securi�y Interest. lJpon request by Lender, Trustvr shall take wha���er action is requested by Lender to perf�ct
<br /> and continu� Lender's security interest in the Rents and Persona! Property. In additian tv rec�rding this Deed of
<br /> Trust in the rea! �rop�rty records, Lender may, at any time and without further authorization from Trustor. file
<br /> executed counterpar�s, copies vr reproductions o# this De�d ❑f Trust as a financing statement. Trustor shal!
<br /> reimburse Lender for all expenses incurred in perfecting or continuing this security interest. LJpan default, Trustvr
<br /> shall nat remo�e, se�er or deta�ch the Personal Property from the Praperty. Upon default, Trustar shalf assemble
<br /> any Persona! Property nvt affixed to th� Property in a manner and at a pEace reasonably con�enient�a Trustor and
<br /> Lender and make it a�aila#�1e to Lender within three t3f days after receipt ❑f written demand from Lender ta the
<br /> extent permitted by applicable law.
<br /> Addresses. The mailing addresses of Trustor �debtar} and Lender tse�ured party} frvm which infarmation
<br /> cancerning �he s�curity interest granted �y this Deed vf Trust may be obtained �each as required by �he Uniform
<br /> Commercial Codey are as stated on the first page of this Deed of Trust.
<br /> FURTHER ASSURANCES; ATTDRNEY-IN-FACT. The �vl�ow�ng pravisions relating ta further assurances and
<br /> attarney-in-fact are a pa�t of this De�d v�Trust:
<br /> Further Assuranc�s. At any time, and fr�m time t� tirne, upon request of Lender, Trustor will mak�, execute and
<br /> deli�er, �r wi11 cause tv be made, executed or deli�ered, t❑ Lend�r vr to Lender's designee,.and when requested by
<br /> Lender, cause to be filed, recorded, refiEed, ar rerecorded, as the case may be, at such times and in such otfices
<br /> and places as Lender may deem appropria�e, any and ai� such martgages, deeds of trust, security d�eds, security
<br /> agreements, #inancing statements, continuatian statements, ins�rumen�s o� fu�ther assurance, certificates, and
<br /> vther documents as may, in the sol� opinion of Lender, be necessary❑r desirable in �rder to effectuate, compFete,
<br /> perfect, continue, ❑r preser�e �1 j Trustor's ob�igativns under the Nvte, this Deed ❑f Trust, and th� Related
<br /> Dacuments, and ��f the liens and security interests c�eated hy this Deed vf Trust vn the Propefty, whether now
<br /> owned or hereatker a�quired by Trustvr. Unless prahibited by law or Lender agrees to the �ontrary in writing, �
<br /> Trustar shal! reimburse Lender far all costs and expenses incurred in �onnection with th� matters referred tv in this
<br /> paragraph.
<br /> Attorn�y-in-Fac#. If TTusto�fails ta dv any af the#htngs referred to in the preceding paragraph, Lender may do so
<br /> f�r and in the name vf Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints
<br /> Lender as Trustor's attorney-in-#act for the purpose of making, executing, deli�ering, filing, recarding, and dving all
<br /> other things as may be nec�ssary or desirabie, in Lend�r's sole opinion, t❑ accvmplish the matters referred to in
<br /> the preceding paragraph. _
<br /> FULL PERFaRMANCE. If Trustor pays al� the Indebtedness, incfuding uvithout limitation ali �uture ad�ances, when due,
<br /> and vtherwise per#arms a�f th� obligations imposed upon Trustor under this Deed vf Trust, Lender shall execute and
<br /> de�i�er to Trustee a request for full recon�eyance and shall execute and deli�er tv Trus�or suitable statements vf
<br /> termination ❑f any financing statement on file e�idencing L�nder's security interest in the Rents and the Personal
<br /> Property. Any recon�eyance fee required by la►►v shall be paid by Trustvr, if permitted �y applicable law.
<br /> EVENTS �F DEFAULT. Each af the �ollowing, at Lender's ❑ptivn. shal� constitute an E�ent o� Default under th�s Deed
<br /> of Trust:
<br /> Payment Default. Trustor fails t� make any payment when due under the Indebtedness.
<br /> �ther Defaul#s. Trustor fails to �vmply with or to perf�rm any other term, obligation, cavenant or cvnd�tion
<br /> contained in this Deed Qf Trust or in any of the Related ❑Q�uments or to camply with ar t❑ perfvrm any term,
<br /> �btigativn, co�enant or conditian contained in any❑ther agreement between Lender and Trustor.
<br /> Camplian�e Defau�t. Failure tv camp�y with any ather term, abligation, co�enant or �andition contained in this
<br /> Deed of Trust,the Nvte or in any afi the Related Dacuments.
<br /> Default on Qther Payments. Failure of Trustor►►v�thin the time requrred by this Deed vf Trust to make any payment
<br /> for taxes or insurance. or any vther payment necessary tv pre�ent filing�f or to effect dtscharge of any lien.
<br /> Default in Fa�vr of Third Parties. Sh�uld Grantar de�ault under any �oan, extensivn of credit, security agreement,
<br />
|