|
��1 5�6� 5�
<br /> �EEa �F �r�u�T
<br /> �Cont117ue�} �ag� 4
<br /> participation.
<br /> Appiicativn of Net Proceeds. I�ai1 vr any part of the Prop�rty is candemned by eminen�domain pr�c�edings ar by
<br /> any pr�eed�ng vr purGhase in lieu vf condemna�ion,Lender may at its election require that al!or any por�i�n of the
<br /> net proceeds of the award be app[ied to the �ndebtedness �r the repa�r or res�oratian of fhe Property. The net
<br /> prviceeds of the a�nrard Shall mean the award af��r paymen�o�F all reasvnable cos�s, expenses, and attorneys'f�s
<br /> incuri-ed by Trustee or Lender in conr�ectian wi#h the c�ndemn���Qn,
<br /> IIVIPa51TIaN QF TA�ES, FEES AND CHARGES BY��VERNN�ENTAL AUTH�RlTIES. The following pravisi�ns rela#ing
<br /> to governmental taxes,f�es and charges are a part o�this Deed of Trust: �
<br /> Curren#Taxes, Fees and Char�es. Up�n request �y Lender, Trustar sha[� execute such docurnents in addition ta
<br /> fhis Deed of Trust and take wha�e�er other action is r�quesfed by Lender ta pe�ect and cantinue Lende�'s ]�en❑n
<br /> the Rea� Prvperty. Trustvr shali reimburse Lender far ali taxes, as descr�bed belaw, �ogether with a�� expenses
<br /> incurred in recarding, perfecting or continuing this �eed o� Trust, including wi�hvut iimita#ivn alE tax�s, fees,
<br /> documentary stamps,and other charg�s for recording ar regis�ering this Deed vf Trust.
<br /> Taxes. The fal�owing shall constitute tax�s to which this section applies: t1} a speGifi� fax upvn �his type af
<br /> Deed o�Trust�r up�n all or any part of the Indebtedness s�cured by �h�s D�ed�f Trust; ��� a speci#ic tax on
<br /> Trustor which Trus�ar is autharized ar r�quir�d to d�duct from payments �n the �ndebtedness s�cured by this type
<br /> v�Deed of Trust; (3} a tax on this type of Deed af Trust chargeab[e against the Lend�r�r th�ho[der of the Cr�dit
<br /> Agr�ement; and �4} a specif c �ax on ali or any portifln of the Indeb��dness ar an payrnents of prineipaE and
<br /> in�erest made by Trusfor.
<br /> Subsequ�n� Taxes. �f any�ax ta whi�h this sec#ion applies is enac�ed subsequent to the date of#his Deed af
<br /> Trus�, fhis e�en� shal� ha�e fh� �ame �fFect as an EWen� af Defauit, and Lender may exercise any ar afl of �ts
<br /> avaiiab[e remedies for an Event of ❑efau[� as pr�rrided below unless Trustor either �1} pays fhe �ax befare it
<br /> beoames delinquent, ar (2� cvntes�s the tax as pro�ided abo�e in�he Taxes and Liens s�ction and deposits with
<br /> Lender cash or a sufficien�corparate surety bvnd�r other security sa�is�ac�ary to Lend�r.
<br /> SE�URITY A�R�E�VIENT; FIN►4NCINC STATEI�ENTS. The f�llowing pravisions relating to this Deed ❑� Trus� as a
<br /> security agreement are a patt of�his Deed af Trust:
<br /> Security A�greement. This insfrurnent shall cons�itute a Security Agreernent tv fihe extent any of the Property
<br /> constitutes fixtures, and Lender shall ha�e a!l of the rights of a secured party under the Uniform Commercial Code
<br /> as amended fram t[me to fime.
<br /> Security Interesf. llpan reques� hy Lender, Trustor sh�ll take whate�er a�tion is requested by Lender fo perfec�
<br /> and continue Lender's security interest in#he Personai Property. In additivn t� recordEng this ❑�ed of Trust in the
<br /> r�al proper�y recards, Lender may, a� any tirne and without further authorizatian from Trustv�, fi[e exe�uted
<br /> caunterpa�s, copi�s o� reproducfions v� this Deed of Trust as a financing statement. Trusfvr sha�l reimburse
<br /> Lender for all expenses �ncurred in perFec�ing or con�inu�ng this security�nferes#. Upon defaul�, Trustor shal[ not
<br /> remo�e, sever or detach the Personal Proper�y fram the Prop�rty. Upon de�ault, T�us�ar shaEl assembie any
<br /> Persona� Praper�y naf affixed �a the Pr�perty in a manner and at a p[ace reasonably con�enien�to Trustvr and
<br /> Lender and rnake it availab�� �o Lender within three �3} days after receipt of written dernand fram Lender�a �he
<br /> exfen�permitted by applicable law.
<br /> Addresses, The mailing addresses vf Trustor �deb�or} and Lender �s�cured party} fram which in�armation
<br /> concerning the securi�,y inter�st granted hy th�s Deed af Trus�may be ob#ained ��ach as ��quired by �he Uniform
<br /> Commercia�Code}are as sta�ed on the firs#page of this Deed af Trust.
<br /> FIIRTHER A55URAI�CES; ►4TT��NEY-IN-FAC�. The fol�owing pra�isions relafing t❑ further assurances and
<br /> attvrn�y-in-fact are a par#��this Deed of Trusf:
<br /> Further Assurances. At�y time, and from fime�o�im�, upan request of L�nder, Trust�r will make, execx�e and
<br /> del i�er, vr wi II cause to be rr�de,execu�ed�r delivered,to Lender or to Lender�s design�e,and when requ�ed k�y
<br /> L�nd�r, cause�v k�e fi l ed, reoarded, refi I ed, ar rereovrded, as the c:ase rnay be, at such t�mes and tn such offi ces
<br /> and p[aoes as L�nder rnay deem apprapriate, ar�y and al�such rnartgages, d�eds af trust, security deeds, security
<br /> agreerr�ent�, financing s�a�ements, c�ntinuativn stat�ments, instrurnen#s of furthe�- assurance, oer�ifica�es, and
<br /> other dacurnen�s as may, in�he soie opin[on of Lender, be ne�essary vr desirable in arder ta effectuafie, aomplete,
<br /> perfe�, corrtinue, or pres�erve �'�} Ttt,is�o�s�bli�atians under�h�Cred�f Agreemer�t,th�s Deed o�Trus�, and the
<br /> Re�a�fed Documents, and �2} the �iens and securi�y ir-�terests c�eated by this Deed of Tn.�s� on �he Prvperty,
<br /> whether naw awned vr hereaf�er aaquired by Trustor. Unless prohihi�ed by law or Lender agrees to the oontrary in
<br /> writing,Trus�or shaIl reimburse Lender for aIl�sts and incurred in canne�tian with�he matters referred
<br /> ta in�his para�raph. ,
<br /> A�#orn�y�En-Fac�. If Trusfior fails to do any of the things re�erred�o in the preceding paragraph, Lender rnay do sa
<br /> for and in the name of Trustor and at Trustar's expense. For such purposes,Trusfor her�by irre�vcably appoints
<br /> Lender as Trustor�s attomey-in-fact�or�he purpose a�making,exe�ut�ng,deli�ering,fii�ng, recording,and do�ng all
<br /> other fhings as may be necessary or desirab[e, in Lender"s so[e opinion, ta acoamplish the matters re�fsrred#a in
<br /> fihe preceding paragraph.
<br /> FL!L L P E RF ORMAN C E. If Trustor pays a[1�he I ndefatedness when due,term�nates the�red i�1 ine aG�aun�, and otherwise
<br /> perForms all the obligations impvsed upon Trustar under�his Deed o�Trust, Lend�r shail execu�e and del��er t�Trusfe�
<br /> a reques� for ful[ r�con�eyance and shall execute and deli�er�n Trustor suitabi� s�atements �f terminatifln of any
<br /> financing sta�ement on f1� e�idencing Lender's security interest in the Rents and the Personal Pr�p�rty. Any
<br /> recon�eyance fee required by law sha�1 be paid by Trustor, i�permitted k�y applicable 1aw.
<br /> EIIENTS �F aEFAULT. Trustor wi[1 be in defau[t under this Deed af Trust if any�f�he�oE�awing happen: tA} Trustor
<br /> commits fraud or mak�s a mater�al misrepres�ntation at any time in connectEon v►rith the �redit Agreemen�t. This can
<br /> inc�ud�, far axample, a false sfatement abou� Trustar's �ncnme, asse�s, liabiEities, or any oth�r aspects of Trusta�s
<br /> fnanc[a� conditEon. �B} Trustar d�es na� meet the repayment terms af the Gr�dit Agreement. 4C} Trus�or's a�tion ar
<br /> inact�an adversely affec#s the collateral o�Lender's rights in the co�[ateral. This can inciude, for examp�e, fai�u�-e �o
<br /> maintain required insurance,waste or destructive u�e af�he dwe[ling, fai[ure�o pay taxes, d�ath of all persans 1ia�fe vn
<br /> the account, f�-ansfer vf titfe or sale of the dwe��ing, creation af a sen�or �ien on the dwelling w�thou� Lende�'s
<br /> permission,fa�eclvsure by the ha�der❑f anafher[isn,a�-the use of funds or the dv►re�iEng far prohib�ted purposes.
<br /> R[GHTS AIVQ REItifIIEDIES �N DE�AULT. I�f an Ever�t o�Default vccurs under#his Deed of Trust, at any time'�hsreafter,
<br /> Trus�ee or Ler�der may exercise any one ar mor-e of fihe�oflvwing r�gh�s and remedies:
<br /> Acce�era#i�n Upan❑efault; Additi�na[Remedies. I�any E�en#of De�ault occurs as pe�the terms of the Credi�
<br /> ►�greement secured hereby, Lender may declare�[� Indebtedness s�cured by this�eed vf Trust to be due and
<br /> payable and#he same shall�hereupan beavme due and payable withaut any presentment,demand, pratest ar
<br /> notice of any kind. Thereafter,Lender may:
<br /> [a} Ei�her in person or by agent, with or wi�houf bring�ng any ac#ion �r proceeding, a� by a recei�er
<br /> appointed by a court and wi�houf regard to�he adsquacy��F its securi�y, en�ter upan and�ake possessian
<br /> a��he Proper#y, or any part thereof, in its awn name�r in the name of Trustee, and do any acts which it
<br /> deerris necessary or desirat�le ta preserve the�alua, marke#ability or renfiabili�y a#�he Prvperty,or pa�o�
<br /> �
<br />
|