|
Z�15��955
<br /> DEED �]F TF�UST
<br /> {Ct]nt�nu�d� Page 4
<br /> rna�be the nominai party in such prv�eeding, but Lend�r shall be ent�tled to participate in the prv�eeding and tv be
<br /> represented in th� prace�ding by couns�� vf its awn chaicE, and Trustar will del��er or cause to be deii�ered ta
<br /> L�nder such instrumen�s and documentativn as may be requested by Lender #rom tirn�: to ti�ne ta permit such
<br /> participatian.
<br /> App�icativn vf Ne�t Praceeds. If all ❑r any part a�the Property is�ond�mned by emin�nt clamain pr�ceedings�r hy
<br /> any praGeeding or purchase in lieu nf condernnation, Lender rnay a#its electian re�uire that all�r any partivn vf�he
<br /> net proceeds vf the award be app(ied tv the lndebtedness ar #he repair or restora#ivn o�r the Property, The net
<br /> proceeds o�the award shal[ mean th� award after payment❑f all re��sQnable casts, expe��ses, and attorneys' fe�s
<br /> incurred by Trustee or Lender in Cvnnection with the canderr�na�ion.
<br /> I�l�iP�SITIQN �F TA�ES, FEES AND �HARGES �Y GOVERNMENT►4L Av7H�RiTIES. The fi�ll�owing provisions relating
<br /> t�go�ernm�nta[taxes,fiees and charges are a part❑�this ❑eed vf Trust:
<br /> Current Taxes, Fees and Gharges. Upan request by Lender, Trusta►� shall execute such dacum�nts in additiQn �❑
<br /> this ❑eed ❑f Tru�t and take whate�er o�her action is requested by Lender�a perf�ct and �:ontinue L�nd�r's lien on
<br /> the Real Property. Trus�or shall reimburse Lender fior all taxes, as des�ribed be�ow, t�g�th�r with all expenses
<br /> incurred in re�ording, per�ecting ar c�ntinuing this Deed o�F T�us�, including withaut limitatian all taxes, fees,
<br /> documentary stamps, and vther�harges for re�ording or registering tfais D�ed of Trust,
<br /> Taxgs. Th� f�I�owing shall canstitu�te taxes ta which this sectivn applie$: t1 y a sper.i•�ic tax upan this type o�
<br /> ❑eed af Trust or upon aii or any part ❑f the Ind�b�edness �ecured by this Deed vf Tru�t, ��y a spe�ific tax �n
<br /> Trustor which Trustor is authorized or required t❑deduct fr�rn paym�nts an the Indebtedri�ss secur�d [�y this type
<br /> a�Qeed of Trust; �3� a�ax nn this type of Deed o�Trust chargeabl�aga�nst th� Lender c�r the hvlder af the Nate;
<br /> and {4� a specific tax on all ar any partion of the �nd��fiedness ❑r an payments vf prin�ipal and interest made by
<br /> Trustor.
<br /> 5uk�sequent Taxss. ff any tax �o which th�s section applies is �nacted subsequent to �rhe dat� af this �eed �f
<br /> Trust, this e�ent shall ha�e the same effect as an Event vf Qe�ault, and Lender may f:x�rcise any ar ail af its
<br /> a�ailabLe remedies for an E�ent a� Defauit as pro�ided belvw unle�s Trustor eith�r �'y pays the tax b�fore it
<br /> becvmes delinquen�, or �2y con�ests the tax as pro�id�d abfl�e in�he Taxes and Liens.,ection and deposits with
<br /> Lender cash or a sufficient c�rpvra�e surety band ar Qther security satisfactary tv Lender.
<br /> SECURIT'Y AGREEMEN�; FiNANCING ST�4TEMENTS. The �ollawing pr�visions relating t❑ �this Deed a� Trus� as a
<br /> security agreement are a part nfi this D�ed af Trust:
<br /> 5ecuri#y Agr�ement. This instrument shall constitu�te a Securi�y A,greement to the ext:ent any v� the Property
<br /> can�titutes fixtur�s, and Lender shall haWe al! ��the rights o=a secured party under the Jniform Cammercial C�de
<br /> as amended fram�ime t❑�ime.
<br /> Security Interest� Upvn requ�st by Lender, Trus�vr shall tak� whatever action is reque��ted by L�nder �o perf��t
<br /> and cantin�e Lender's secur'rty inte�est in the Rents and Persanaf Property. fn additivn to recvrding fhis �eed of
<br /> Trust in �he real property recards, Lender mayr at any tima and wi�hou� further authc�ri�ation from Trus�vr, fil�
<br /> exe�ufied counterparts, capies �r reproductivns a� this Deed o� Trust as a f�nancing statement. Trustar shaii
<br /> �eimburse Lender for a(f expenses incurred in p�rfe�ting or Gnn�inuin� this security intere4�t. Upon defaul�, Trustar
<br /> sha11 nat r�mo�e, s�ver or detach the Personai Proper�ty from the Pr�perty. Upan de#au[t, Trustor shall assemble
<br /> any Persvnal Pro�erty not a�ifixed to the Pr�perty in a manner and at a pla�e reasonably Gon�enient to Trustar and
<br /> Lender and rnake i� a�ailable tv Lender within three �3� days aft�r re�eipt o# written dernand frvm Lend�r tv the
<br /> extent permitted by applicable law.
<br /> Addresses. The mailing addresses af Trus�or �debtor} and Lenc�er tse�ured party} �Frorn which information
<br /> c�nceming �h� security int�r�st granted by this D�ed of Trust may h� a#�t�ined teaGh as rec�uired by the Unifarm
<br /> �ornmercial Code} ar�as stated an the first page of�his D�ed of Trust.
<br /> FURTHER ASSURANCES; ATT�RNEY-IN-FA�T. The fvllawing prvvisions relating fio ��urther assurances and
<br /> at�vrney-in-fact are a part o�this Deed af Trust:
<br /> Fur�h��Assurances. At any time, and from time tfl time, upvn request of Lender, Trust��r wili make, execute and
<br /> deli�rer, vr wil�cause to be rnade,executed or�eli�ered, to Lender or to Lender's designe�, and when requested by
<br /> Lender, cause t❑ be �iled, recvrded, refifed, or rerecorde�, as the ca�e may be, at such times and in such offic�s
<br /> and places as Lender rnay deem apprapriate, any and aIf suc:h martg�ges, deeds ❑f trust, security deeds, security
<br /> agreemen�ts, financing statemenYs, cvn�inuat�on stat�ments; instruments a� fiurth�r ass�jran�e, ce�ti�icates, and
<br /> othe�da�uments as may, in�he sole ❑pinion a�Lender, be necessary or desirabfe in arder to effectuate, compiet�.
<br /> per�ect, can�inue, or pre�er�e {1) Trustvr's obligativns under th� Note, this Deed ❑�� Trust, and the Re[ated
<br /> Documents, and ��� the iiens and security interests creat�d �y th�� ❑eed af T�ust as �irs� and privr liens an the
<br /> Prap�rty, whether naw awned vr hereafter acquired by Trus�ar. Unl�ss prohibited by la�� or L�nder agrees to �he
<br /> cvn�rary in wri�ing, Trustor shal� r�imburse Lender fvr all �vs#s and expenses incurre�l in connectivn uvith the
<br /> mat�ers re�erred to in this para�raph.
<br /> Att�rney-inWFact. I�Trustor�aiis�a do any o�the things referred to in the preceding par���raph, Lender rnay do so
<br /> far and En the name of Trustor and at Trustar's expense. For such purpases, Trustor h�reby irre�acably appa�nts
<br /> L�nd�r as Trustor's att�rney-�n-fact�or�he purpose af makin�, execut�ng,�eli��ring. �ilin�, recording, and doing afl
<br /> other things as may �e necessary ❑r desirable, in Lender'S svle apin�on, to accomp�ish tl�e matters referred to in
<br /> the preceding paragraph.
<br /> �ULL PE�F�3RIVI�INCE. ff Trustvr pays alf the ind��atedness when due, and ath�rwise per�orms afl �h� �bligatians
<br /> xmpvsed up�n Trustor under �his Deed of Trus�, Lender shall �xecu�� and del��er �o Trustee a re�uest far fiull
<br /> �econ�eyan�e ar�d shall ex�cute and deli�er�v Trustor suitable staternents vf terminativn o�an��financing s�atement on
<br /> `�ile e�idencing Lender's secur�ty ir�terest in the Rents and�he Pers�nai Pra�erfiy. Any recan��anc�fe�required by law
<br /> 5ha11 be paid by Trustvr, if permitted by appiicable law,
<br /> �VENTS aF DEFAULT. Ea�h of the foiiow�ng, at Lender's vptinn, shall cons�i�ute an E�ent cf Defauf� under this 17eed
<br /> ��Trust:
<br /> Pay�nent 17�fault. Trustor fails fio make any paymen�when due und�r the fnd�btedness.
<br /> D�h�r Defaults. Trustor �ai�s tv �omp�y with vr tv perfarm �ny ather term, �h�igatian. covenant vr �vndi�ion
<br /> �on�tained in this ❑eed o� Trust or in any of the Related Document� ar to camply with or �o per�orm any term,
<br /> vb[igation, co�enant ar cnnditi�n contained in any o�her agreement be�tween Lender and T��.�stor.
<br /> Cvr�pliance Defa�lt. Failure �v cornply with any ather term, ❑bfiga�ivn, ca�snan� or c�i�ditian c�ntained in �his
<br /> Deed of Trust,�he IVote or in any vf the Related ❑acuments.
<br /> Qef�u�#on 4�her Paymerrts. Fai[ure❑f Trustor within the time required by�his Deed o�Trust to make any payment
<br /> for taxes or insurance, or any other payment necessarY fio preWent filing of or tv e�#ect discharge of any lien.
<br /> De�aul�in F�►►nr�f Third Par�ies. Shoufd Grantor d�faul� under any Ioan, extension of cr��d�t, securi�y agreement,
<br /> purchase vr sales agr�ernent, or any other ag�eement, in fia��r❑fi am,� ❑ther creditor❑r��rsvn�hat may materially
<br /> a#fe�t any vf Grantar's property vr Grantor"s abiiity �o re�ay �he [ndebtedness or Grantar`s at�ility t� perfo�m
<br /> Grantar's obligat�ons under this Deed af Trust ar any vf the Reia�ed Dc��uments. �Q_"�
<br /> �`��
<br /> ��
<br /> ,
<br />
|