|
��15�3�1�
<br /> a�ED D�' ��:�U�T
<br /> ���n����ed} Page 4
<br /> Taxes. The ��Ilowing shaii const�tute taxes to which t�is sectian applies: �'�} a �pecif�c tax u�on �his type o�
<br /> Deed of Trus�flr upon aii ar an� par#of#he lndebtedn2ss secured by this ❑eed v�Trus�; �2} a speci�ic tax on
<br /> T�ustor whicI�Trustor�s authorfzed�r requ�r�d to deduc��rom payment�on the f ndebtedness secur�d hy this type
<br /> of Deed of Trust; (3} a tax on this type of❑eed of Tr�st�hargeable agains�the Lender or the halde�af the Nate;
<br /> and �4} a speci�ic tax on a!I or any portion of the In�ebtedne�s or�n payments o�principa� and in�eres�made by
<br /> Tru s�o r.
<br /> �ubsequent Taxes. !f any �ax to whi�� tnis sec�ian applies is enacted subsequ�nt �o th� date vf this �eed of
<br /> Trust, th is even� shall ha�� the same effect as an EWent of Defa�(tx and Lend�r r�ay exercise any or ali o� its
<br /> available remedies for an E�en� of Default as pro�ided below� uni�ss Trusto� either ��} �a�s the tax before it
<br /> becomes definquen�, or �2} contes�s the tax as pro�ide� �abo�e �n th�Taxes and Liens sec�ion and deposits with
<br /> Lender cash or a su�fi��ent�orpvrate surety bond or other security satisfac�ory��Lender.
<br /> SEC[JF��TY A�REEMENT; F�N►41VCIN�G ST,�TEMENTS. The fo��owing p�ovisions re�ating to �his Deed of Trus� as a
<br /> secu�i�y agr�e�men�are a part nf th�s Deed flf T�ust:
<br /> Se�urity Agre�ment. This instrument shall const�tu�e a Security Ag�eement to the extent any of the Prope�ty
<br /> constitutes fixtures, and Lend�r sha��have all o�the righ�s of a secured party under t�he Uniform Commerc�al Cvde
<br /> as amended fram time to time.
<br /> 5ecurity ln�eresf. �Jpon request by Lend�r, Trustor shall take what��r�r action is requested by Lender to perFec�
<br /> and continue Lender"s security in�erest in the Persvnal Praperfiy. In �ddi�ion�v recar�ing fhis �eed of Trust in fhe.
<br /> rea! propert� recvrds, Lender ma�, a� any fiime and witho�t fu�ther autho�ization from Trustor; file executed
<br /> caunterparts, capies or repro�ductions of this Deed of Trus� as a �inan�ing staternent. T�ustor shall reimburse
<br /> Lender for al� �x�enses incurred in perfecting ar �ontinuing this secur�ty interes�. Up�on defau�t, Trustar shal� nat
<br /> remove, sever ar �etach the Personal Property from the P�operty. Upon de�ault, Trustor shall assem��e any
<br /> Persona! Property not af�ixed to fhe Prope�y in a manner and at a plac� reasonably �anvenienf to Trustor and
<br /> L�nder and make it available to Lender within three �3} days after rec�ip� o�wrififien demand fi�am Lender t� �he
<br /> extent pe�mitted by applicabl�law.
<br /> Address��. The ma�ling addresses of Trustor �de#�tor} and Lender �secured party} from which in�ormat�an
<br /> concerning the security interest gran�ed by �his ❑eed of Trust may �e obta�ned �ea�h as required by the Uniform
<br /> Commerciaf�ade}are as stated on th�first pag�of this De�d of Trust.
<br /> FURTHEF� ASSURANCES; ATTQF�NEY�[N-FACT. The following prvuisions relating to fur�her assurances and
<br /> attorney-in--fa��are a part o�this Deed o�Trust:
<br /> Further Assurances. Af any time, and from time ta time, upon reques� o�Lender, Trustor wil� n�ake, execufe and
<br /> deli�er, �r will cause to be made,exe�uted or deli�ered, to Lender or to Lender's�es��nee, and when reques�ed b�
<br /> Lender, cause to be�iled, record�d, re�iled, or�erecvrded, as the case may be, af such tirnes and in such offices
<br /> and places as Len�er rr�ay deem appropriate, any ar�d a!f su�h martgages, deeds �f trust, security deeds, se�urity
<br /> agreements, financing� statements, canfinuafian sta�ements, instrume��s o�F further assurance, cer�ifieates, and
<br /> other documents as may, in the svle op�nivn of Lend�r, be necessar�y or desirable in order to efte�tuafie, comp�et�,
<br /> pe�fect, continue, or preserv� ��} Trusfior's �b�igatians under th� Note, this Deed af Trus#, and the Related
<br /> Docum�nts, and �2} �he fiens and securify interests �rea�ed by this L7eed o�Trust on the Prvperty,whether now
<br /> vv�ned ar hereaf�er acqui�ed by Trustflr. Unles� prohibited by law or Lende� agrees to the con�rary �n writing,
<br /> Trustor shall reimburse L�nder fo�alf costs and expenses� incu�red in cannection with�he matters referred�o in this
<br /> paragraph.
<br /> Attarn�y-fn-Fact. ��Trus�or fails to do any af�he things re��rred to in �he preceding paragraph, Lender may do so
<br /> for and in the name of Trus�vr and at Trustor's expense. For such purpnses, Trustar hereby irrevocably appoints
<br /> �ender as�rusfor's at�orney-in-fact�or the purpose of�aking,execut�ng, deliu�ring, filing, recar�ing, and doing afl
<br /> other things as may be necessary ❑r des�ra�le, in Lender's soie opinion, to �ccompl�sh the r�att�rs referred fio in
<br /> the preceding paragraph,.
<br /> FULL PERF�R�.�NCE. If Trus�or pays at! the Indebtedness when due, and o�herwise pertorms al� the obligations
<br /> imposed upon Trustor under t�is Deed of Trust, Lender s�a!! execufe and deliver ta Trustee a request fv� fulf
<br /> re�onveyance and shalf�xecute and deliver�v Trustor suitable$tat�ments ofi termination of any finan�ing sfa#ement�n
<br /> file e�iden�ing Lender's security'rnterest in�he Rents�and the Pers�na! Pro�erty. �Iny rec�nveyance�ee required by law
<br /> shafl be paid by Trustor, if permit�ed by applicahle law.
<br /> EVENTS DF QEFAULT. At L�nder'� option, T�ustor will be in defaul� under�his �eed o�'Trust if any ofi the following
<br /> happen:
<br /> Payment Default, Trustor#ails to make any paymen#when due un�ier the Indebtedness.
<br /> Break ��her Pr�m�ses. T�us�or breaks any promis� mad� to Lender or fails to pertorm promptf�r at th� tirn� and
<br /> strictly in the rn�nner p�ovided in�his Deed o�F Trus�or€n any agreement rela��d�o this Deed of Trus�.
<br /> Compiianc� De�a�lt. Fai[ure to comply w�th any othe� �erm, o�ligatian, cv�enant or cond���on contained in this
<br /> D�ed o�Tr�rst,th�Note�r ir�any o�the Rela�ed Documents.
<br /> Defaul�on Other Payments. Failur�of Trustor within �he time required by�his�]eed�f Trust to make any paymen�
<br /> �or taxes or insurance, or any ather paymen�necessary�a pre�ent fiiling ot or to et�ect discharge a�any lien.
<br /> Defau�t in Favor��f Third Par�ies. Sh�uld Grantar defaulf under any loan, �xtension v�credit, security ag�eemen#,
<br /> purchase or sa�es agreer�nent, �r any o�her a�reerr�ent, ir� fauo�of an�other er�di�or ar person that may mat�r�a�ly
<br /> affecf any ot Grantor's proper�� or �rantor's a�i�i�� to repay �he Indebtedness or �rantor's abil��y to pertorm
<br /> Grantor's obfi�a�inns un��r this Deed❑f Trusfi or any o�the Related Qacuments.
<br /> False Statements. At�y representafion ar sfiatement mad� or furnished t� Lender hy Trustor or on Trustor's behal�
<br /> under this Deed of Trust ar fihe�efafed �vcuments is fa�se or misleadin� in any r�nateria! respec�, eithe�r naw► ar at
<br /> the�im�made or furnished.
<br /> Defecti�re Co[�aferalization. This D�ed o� Trus� vr any o� the Related Dacuments ceases �� be in fW�� €orce and
<br /> e€�ect tincfud�ng faifure o�'any collateral documen� fio create a valid and pe�f�ec�ed security in�erest vr ��en} at an�
<br /> time and�ar any reason.
<br /> D�ath vr insol►►enGy. Th�dEath of Trusfor, �he insolvency of Trus�or, fh�appvintment o�a �eceiver for�any par�of
<br /> Trus�or's p�operty, any assignmen� for th� �enefit of �reditors, any type af creditor workout, a� #he
<br /> cvmm�nc�r�ent of any proceeding under any bankruptcy a�ins�fvsncy laws by❑r against Trustor.
<br /> Tak�ng vf the Prape�ty. An� credi�or or go�ernmental agency tries to take any o�€the Prop�rty or any other o�
<br /> Trustor's property in which L�nder has a lien. This includes taking ❑f, garnishing of or le�yir�g on Trustor's
<br /> acc�unts w��l� Lender. Howe�er, i�Trustor dispu�es in gvod faith wheth�r the c�a�m on which th� tal�ing af the
<br /> Proper�y is based is valid �r reasonable, and i� Trustor gives Lender wr�tten nvtice of the claim and furnishes
<br /> L�nde�with monies or a su�ety bond satisfactory�o Lend�r�o satisfy the claim,then this default pro�ision will not
<br /> appl�r.
<br /> Br�ach of�7ther�greement. Any breach by Trus�ar under the terms 4f any other agreernent be�ween Trustor and
<br /> Lender tha� is not rsmedi�d ►rv��hin any g�ace period prouided th�rein, including without I�mi��tion an� agreerr�er�t
<br />
|