|
Z�15�5�33
<br /> f�EED �F T�LfST
<br /> ��061t1�1��d} �age 4
<br /> Application of IVe�Proceeds. !f all or any part of the�roper�y is candemned by eminen�domain praceedings ar by
<br /> any prooeeding or purchase in lieu vf cand�rnnativn,Lend�r may at its ele��tion requ�re that a�i or any po�tion of the
<br /> ne�t pro�eeds af the award be applied to the Endebt�dness or the repair or res�oration c�f the Property. Tf�e net
<br /> proce�ds ofi the award shall mean�the award a�ter payment of all reasvnable Gnsts, e�penses,and attorneys'fees
<br /> in�urred by Trust�e or Lender in conne��ion wifh�he�ondemnafion.
<br /> 1l1fIPOSfCION �F TAXES, FEES AND CHARGES BY GQVERNMENTAL AUTHQR�TIES. �he��llowing pravisitins re�a#ing
<br /> tv goWernmental taxes,�ees and charges are a part of this De�d v�Trust:
<br /> Currenfi Taxes, Fees and Charges. LJpvn requ�s�by Lender, Trustor shall execu#e such daGuments in additiar� ta
<br /> this Deed o�Trust and take wha#ever other ac�ion is�equested by Lender lv perf��t and��rntinue Le�der`s iien❑n
<br /> the Real Praperty. ��ustor shall reimburse Lender�or alf ta�ces, as des�ribed belvw, fagether with all expenses
<br /> incur�ed in re�ording, perfecting ar �vntinuir�g this �e�d af T�ust, Fn�luding withouf �irnita�ion al� taxes, fees,
<br /> dacumen�ary s�arnps,and o�her�harges far recording or registering thi�Deed o�T'rust.
<br /> Taxes, The �oliowing sha[� canstitute taxes �o whi�h this section appfies: �'�� a specific �ax upon this type of
<br /> D�ed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; ��� a specific tax ❑n
<br /> Trustor which Trus�ar is author€zed or required ta d�duct frvm payments an the Indebtedness secured by�his type
<br /> o�❑eed vf Trust; �3] a tax on this type v�❑eed afi Trusf chargeable agains��he Lender or the hvlder o�the Note;
<br /> and �4} a specific tax on all or any partivn of the fndebtedness or on payments a�principal and�nterest made by
<br /> Trustor.
<br /> Suhsequent Taxes. !f any�ax ta which this sectian appiies is enac�ed subsequent tv the da�e of th�s Qeed of
<br /> Trus�, this e�ent shafl ha�e the sarne e�f�ct as an E�ent af Qefaul�, and Lend�- may exercise any or al! of i�s
<br /> availab[e remedi�s for an Event o� Qefault as pro�ided befow un�ess Tn.is�o�- either �'1} pays fihe �ax befare it
<br /> becames de�inquent, or ��} contests�he tax as prQ�[�led aba�e in�he Taxes and Lien�section and depo�its wi�h
<br /> Lender cash ar a su�Ficient corporate surety band or ath�r secu�ity satisfac�ary to Lender.
<br /> SECURITY AGREEMENT; FINANCING STATEIVIENTS. The fo[Iowing provisions re�a#ing �a this Deed af Trust as a
<br /> securi�y agreemen�are a part o�this ❑eed af Trust:
<br /> Security Agreement. This �ns�rument sha{! ��nstitute a Security Agre�m�nt tv the extent any of the Property
<br /> cans�itutes fixtures, and Lender shal[have a[1 of fhe righ�s af a secured party under the Uniforrn Cornmercial Code
<br /> as amended�rom$irne to tim�.
<br /> Securifiy Enterest. Upon re�uest by Lender, Trustor shall take whate�er a�tivn is requested by Lend�r ta pei-fect
<br /> �nd r�crntinue Lende�'s security interest in the Ren�s and Personal Property. �n addition to recording �his �eed o�
<br /> Trust in the real property re�ords, Lender may, at any time and withvu� furkher aufhorizat�an frorn T�-ustor, fiie
<br /> executed caunferparts, copies or reproductions of thi� ❑eed �f Trust as a fr�ancing statement. ��'ustor shall
<br /> reimburse Lender f�r a!I expenses in�urred in pe r Fecting�r con�inuing this security interest. Upan default, Trus�o�
<br /> shall n�t remove, sever or deta�h the Persona� Praperty from fihe Property. Llpan d�fault, �r�star shal� assemble
<br /> any Personal P�-vperty not affixed#❑�he P�operty in a manner and at a plac�reasanahfy can�er�ien�to Trustor and
<br /> Lender and make i� a�ailable to Lender v►rithin three �3} days a�ter receip� �f written demand from L�nder�v �he
<br /> ex�tent perm��ted by applicable�aw.
<br /> Addresses. The rnailing address�s ❑f Trustar (debtor} and Lender �se�ured partyy fror� which in�armafion
<br /> cancerning the security in�eres�granted by this Deed of�"rust may be obtained �each as �equired hy the L]�iforrr�
<br /> �ommercial��de}are as stated vn�he firsf page of this Deed�f Trus��.
<br /> FUf�THER ASSUi�4NCES; AT'�aF�NEY-IN-FA�T. �he f�llowing pro�isions relating to further assurances and
<br /> aftarney--in-fact are a parf o�this Deed��Trust:
<br /> Further Assurances. At any time, and f�vm time to time, upon request af Lender,Tnastor wil� make, execute and
<br /> de��uer,ar wif 1�ause to be made,executed or deli�ered,to Lender or to Lender's desEgnee,and when r�equested by
<br /> Lender, cause tQ be fi�ed, re�arded, r�filed, or r�erecor`ded, as the case may be, a�sucJ�ti me5 and i n such off ces
<br /> and piaces as Lende�may deem apprvpriate, any and a!f such rnortgages, deeds of�rus#, securiiy deeds, security
<br /> agr�ments, finan�ing statements, �ontinuation sfatements, insfiruments af�u�ther assuranoe, ce�tifcafes, and
<br /> ather documents as may, in�he sole vpinion of Lender, be ne�essary or desirable in vrder ta e�Fe�fuate, camplet�,
<br /> per-fect, cantinue, ar preserve {1) Trus�ors ob�igati�ns und�r the Note, this Deed of Trust, and �he F�efated
<br /> Da�utr�nts,and �2} th���ens and s�curity interests creat�d k�y this C?�eed vf Trust on�the P�o�erty,whether now
<br /> qwned ar h�reafter a�qu��ed by Trustor. Unfess prohibit�d by law ar L�nder agrees to the contrary in writing,
<br /> Tn..,star shall reimburse Lender�or alf oasts and expenses incurred in�annect�on wi�h the matters referred to in this
<br /> paragraph.
<br /> A�tarney-in-Fact. I�Trustor�ai[s to do any of the things referred ta in�he preceding paragraph,Lender m��da so
<br /> for and in the name o�T�ustvr and a�t Trusf�r's expense. Far such�aurposes, Trus�ar hereby irrevo�ab�y appoin�s
<br /> Lender as�'rustor°s attom�y--in-fac�for th�purp�se o�maki n�,execufi ng,de�i�eri ng,f!i ng, r�cordi ng,and doi ng a[1
<br /> a�her�hings as may be nec�ssary or desirable, in Lender's sole op�nian, �o accvmplish the matters refierred iro ir
<br /> the precedirrg paragraph.
<br /> FULL PERFDRMANCE. !f Trusto�-pays ail the lndebtedness, incfuding with�ut limitation a�l future ad�an�es,when due,
<br /> and otherwise perfa�ms a�l the obEigatinns imposed upon Trustor under�his Deed of Trusfi, L.ender shalf e�e�u�e ancl
<br /> def i�er to Trustee a reque�� for ful I reconveyance and sha�! execute and deli�er ta Trus�or suitab3a s�a�ements vf
<br /> terminatian o� any financing s�atem�nt on file e�id�ncing L.ender's security in�erss� in the �ents and the Pe�-svnal
<br /> Property. Any reconueyance fee requir�d by law sha�I be pa�d b�Trustor,i�permitted by app�ic�bi�law.
<br /> EVENTS QF DiEFA�LT. Each af the fQi�awing, at Lender's aption, shafl cvnstitute an Event af D�fault under tf��s Deed
<br /> of Trust:
<br /> Paymant Defiau[�. Trustar faifs fv make any payment when�iue under the indeb�edness_
<br /> �ther Default�_ Trustvr fails t❑ cvrnp�y wi�h ❑r ta perfflrm any �ther term, ❑bligation, co�en�nt or candition
<br /> Gantained in th is aeed❑f Trust vr in any of #he Related Docurnents ar t❑ camply with or�v per�orm any term,
<br /> abliga�i�n,covenant vr condition cantained in any other agreement between Lender and Trusta�-.
<br /> �vrnp[iance Default. Fa�lure ta comply with any other term, ob�igativn, coW�nant ❑r �vndition con�aine�! in this
<br /> ❑��d of Trust,fhe Nate�r in any�f fhe Related Documents.
<br /> Default on�ther Payments. Fai[ure af Trustor within �he time re�uired by this ❑eed of Trust to mak�any payment
<br /> fnr taxes or insuran�e,vr any�ther payment necessar}r ta prevent f��ing of or to effect discharge o�any lien.
<br /> Default in Favor of Third Parties, Should �rantar de�au�� under any Ioan, extension of credit, security agreement,
<br /> pur�hase vr sales agreernent, vr any other agreement, �n#avor v�any other Gredi�ar❑r persvn that may mat�riaily
<br /> a�ect any o� ��-antor's property or Grantor's ability to r�pay the �ndebtedness or Granta�'s abiiity to perform
<br /> G�-antor°s obliga�ions under thls❑eed afi Trus�or any af the Related DQcuments.
<br /> Fa�se ��a�emer��s. Any warranty, represen�atiar� vr s�atemenfi made �r furnished t� L�nc�er by Trustor or �n
<br /> Trustvr°s behalf und'er this �eed of Trus�c��-the Related Dacumen�s is false�r misleading in any r�nater�al respe��,
<br /> eithe�'r��w vr a�th��irne made z�r furnished ar beromes false�r rnisleading at any time�herea�te�r.
<br /> D�fecf��e Collate�a��zation. Th�s Deed �f T�-us� or any a�the Refated Documents ceases t� b� in fu1� force and
<br />
|