|
��15�353�
<br /> DEE� �F TRUST
<br /> ��ontir�ued� Page 4
<br /> parfiicipativn.
<br /> Applicatia�n v�IVet F'ro�eeds. If ail or any part v�f the P�operty is condemned t�y �miner��domain proce�dings ar by
<br /> any prvc�eding or��urchase in 1i�u�€�vndemnation, Lender may at its electian r�quire tha�aii or any portion vf�the
<br /> ne� prviceeds af thf; award be appf�ed to the Indebtedness �r the repair ar rest�ration a� the Proper�y. The net
<br /> praceeds vf th�1 award shall m�an �h� award after payment of all reasonable costs, expens�s, and a�torneys' �fees
<br /> incurr�d by Trustee or L�nder in connecti�n with the cvndemnation.
<br /> �iV�P�51T1�N �F TA�ES, FEES AND CHARGES SY G�]VE�N�!lENTAL AUTHOR�TIES. The �=ollowing pro�isions r�lating
<br /> to ga�ernmental taxes, fees and charg�s ar� a part of this Deed�f Trust:
<br /> Current Taxes, Fee:s and Charges. Upon request by Lender, Trus�or shall execute su�h dvcuments in additian to
<br /> �his D�ed of Trust ��nd take whate��r��ther ac�ian is requested by Lender to per�e�t and cantinue Lender's lien vn
<br /> �the Real Property. Trustar sha!! reimburse Lender fvr all taxes, as described l�elow, tagether wi�h afl expenses
<br /> incurred in recvrdir�g, perf�cting ar cvntinuing this Deed of Trust, in�luding without lirr�itation all taxes, #ees,
<br /> documen�ary s�tam��s, and a�her charg�s f�r re�ording or registering this De�d of Trus�.
<br /> Taxes. The �allQwing shall canstitut� taxes �v which this seGtion applies: {1 y a sp����ic tax upon this typ� ❑f
<br /> Deed af Trust or u��an all vr any part of the Inde�tedness secured by this ❑ee�i of Trust; �2f a specific tax on
<br /> Trustor which �rrus�:or is authvrized ar required tv deduct frvm paymen�s vn the �ndeb�edness secured by this type
<br /> af Deed af Tru:at; �3} a tax an th�s�ype of Deed of Trust chargeable against th� Lender ar the holder o�the No�e,
<br /> and �4� a specific tax vn all ❑r any pvr#ion of�he lndebtedness vr on payments vf pr�ncip�� and in�erest made by
<br /> Trustvr.
<br /> Suhsequent Taxes. f�f any tax t� whi�h this section appfies is enac�ed suhse€�uent 1:v the dat� of this Deed v�f
<br /> Trust, this e�ent s[�all ha�e the same efife�t as an E��nt of Defaul�, and Lender may ex�r�ise any or aff �f its
<br /> a�ailable remec�i�s �or an E�ent of Default as pra��ded below unless Trustor either ��} pays the tax hefore i�
<br /> becom�s delinc�ueni:, ar ��} con�ests �the tax as pro�ided a�vWe in the Taxes and Lier�s sect�on and depos�ts with
<br /> Lender cash or a su�ficient cQrpora�e surety bond ar ather security satis�actary to Lend�r.
<br /> SE�URITY AGREE�VIENT'; FINANCING STATEMENTS. Th� �ollowing pro�isions re[ating �o th€s Deed af Trust as a
<br /> security agreement are c� part vf this Deed of Trust:
<br /> Secur�ty Agr�emenk. �This instrument shall constitut� a 5e�urity Agreement ta the �xt�nt any of th� Pr�per�y
<br /> constitut�s fixtures, and Lender sha[[ ha�e all vf the rights af a secured party under th� Ur�iform Commerciai �od�
<br /> as amended frc�m ti�me to time.
<br /> Secur�ty Intere:�t. �Jpon request by Lender, Trus�or sha�� take whate��r acti�n is req�aested by Lender ta perfect
<br /> and cantinue Lend�:r's security interest in the R�nts and Personal Property. In addition �� recording �his Deed af
<br /> Trust in the real p�•op�rty re�ords, Lender may, at any time and withou� furth�r authvrization �rom Trustar, file
<br /> executed counterpK�rts, �opies ar r�pr�du�ti�ns o�f this Deed v� Trust as a fi�ancing s��t�ment. Trustor shall
<br /> reim�urse Lena�r�«r al! expenses inGurr�d in perfe�ting vr c�n�inuing this security int�rest. lJpvn default, Trustor
<br /> shall not re�na��e, se�er or detach the Personal Proper'�y from the Proper�y. LJpan de�aul�, Trustor shall assembl�
<br /> any Pers�nal Prope��ty not affixed to th� Pr�perty in a manner and at a place reasvnabl�y Gon�enient t� Trustar and
<br /> Lender and make it: a�ai�able to Lender within three �3� days after receipt af written �emand fr�m Lend�r �o the
<br /> ex�ent perm�tted by appliGable law.
<br /> ACIt�I'555�5. The inaiiing addresses fl� Trus�or �debtor� and Lender �secured par�tv} �rom which in�armation
<br /> cancernin� the seci.�rity interest granted by th�s Deed of Trust may be ob�tained �each as requir�d by the LJni#�rm
<br /> �ommer�ia� �adey r�r� as stated on the first page of this �eed of Trust.
<br /> FLIRTHER A�5L1R��NCE:S; ATTORNEY-IIN-FACT. Th� foll�wing p�"DVISfQf�S rela�ing tr� �urther assuranGes and
<br /> attorney-in-fact ar� a part o�this Deed �f Trust:
<br /> Furfiher�ssurances. At any time, and from time ta time, upon request ofi Lender, Tru�tvr will make, execute and
<br /> deli�er, vr v�i�l cause tfl he made, executed or de[iWered, tv Lender�r to Lender's desigi7ee, and when requested by
<br /> Lender, �ause to bf: �iled, recarded, refiled, v� rerecorded, as the �ase may be, a� su�h times and in such nffices
<br /> and places as �_en�er may d�em apprapriate, any and all such martgag�s, deeds of trust, seGurity d�eds, security
<br /> agreements, f���ancing statem�n�s, cvntinuatifln statemen�s, instruments of fur�her �ssuran�e, certificafies, and
<br /> other dvcuments a.� may, in the sale opinian �# Lend�r, be ne�essary �r desirable in order ta effecfivate, �omplet�,
<br /> perfect, con�inue, or preser�e �1� Trustv�'s obligations under �he No�e, this Deeci of Trust, and the Rela�ed
<br /> Documents, and 4�?� th� iien� and seGurity interests created by this ❑eed of Trust a� €irs� and prior fiens on the
<br /> Property, whether r7ow owned or hereafter acquir�d l�y Trustor. LJnless prohibit�d by lav�r �r Lender agrees ta the
<br /> c�ntrary in writing, Trustor shall reimburse L�nder far all GD5�5 and expenses incurred in connection with the
<br /> matters re#erre��to in this paragraph.
<br /> Attvrney-in-Fac�t. li�Trust�r fails to d❑ any af the things �eferred tQ in the preceding para�raph, Lend�r may do so
<br /> far and in the ��am�. of Trustvr and a't Trustor"s expense. Fvr such purposes, Trus�or her�by irre�o�ab�y appoints
<br /> Lender as Trustar's attorney-in-fac��or the purpase ❑f making, ex�cuting, deli��ring, filing, recarding, and doing all
<br /> other �hings a�� ma�y be n��essary or desirable, in Lender's svle apinion, to accomplis� the matters referred to in
<br /> the pre�eding ��aragraph.
<br /> FULL PERFC3RM►�N(".E. ff Trustor pays all the lndebtedn�ss, including without limitati�n all �uture ad�ances, when due,
<br /> ar�d vtherwise per�orms all the obligatians impvsed upon Trustor under �his De�d o�f Trusi:, Lend�r shal� �xecute and
<br /> deli�er tv Trus�ee .� rec�uest for �ull re��n�eyance and shal� execute and deli�er to Tru�tor suita�le statemen�s of
<br /> terminati�n of any fina��cing statement on file e�idencing Lender's se�urity inter�st in the Rents and the Persvnal
<br /> Property. Any reco����yance fee required by law shall be paid by Trustor, i�permitted by applicabie law.
<br /> E'1lENTS OF DEF�IULT. Each of the #nllowing, a� Lender's �pti�n, shall cvnsti�ute an E�en�: of Default under th�s Deed
<br /> of Trust:
<br /> Payment De�ault. �i�rustvr fails tv make any payment when due under the indebtedness�
<br /> �ther 13e#a�lts. Trustor fails to comp[y ►nrith vr to per�arm any �ther term, oh�igatior�, �a�enan� or canditian
<br /> contained in tr�is D��d af Trust or in any of the Related Do�umen�s or �o cor�ply with or ta perform any term,
<br /> Q�3II�r7tfQl"3� co�f;nant or�onditian �antained in any other a�r�em�nt between Lender and Tr�stor.
<br /> Compiiance D�faul�,. Failure to comply with any v�her term, abliga#ion, cavenant or �ondit�on canfiained in this
<br /> Deed of Trust, the IVote vr in any v��he Related Documents. •
<br /> Defautt c�n�thE�r PE�yments. Failure ❑f Trustor within the time required t�y this D��ed o�Trust to make any payment
<br /> far taxes ar insuranGe, or any o�h�r payment necessary to pre�ent f�ling of or�v�f���t dis�harge o�any lien.
<br /> I]efault in Fa�c�r vf Third Parties. Should Grantar default under any faan, extensivn of credi�, security agreement,
<br /> pur�hase or sales agreement, ar any other agreemen�, in fa��r v#any other creditor vr persvn �hat may ma�eria��y
<br /> affect any of Grantor's proper�y ar Gran�tor's ability to repay the Indebtedness or �ran��r's a�iiity tv perform
<br /> Granto�'s oblig��tians under this Deed ❑f Trust or any of the Re�ated ❑ocuments.
<br /> False Stateme��ts. Any warranty, representat�vn ar sta�ement mad� or furnished to Lender by Trustor or on
<br /> Trustor's beha[f un��er this ❑eed o�Trust vr�h� Related Dacuments is false or mislea�ing in any ma�erial respect,
<br /> either nouv or at th�,time made ar furnished or b�comes false ar misi�ading a#any�ime thereafter.
<br />
|