|
��1 5�6441
<br /> [3EE� �F TRUST
<br /> ��vrltinuedy Pag� �
<br /> any proceeding ar pur�hase in fieu af�andemnation, Lender may at its election requir�that all or any portion of�he
<br /> net prv��eds af the award be applied t❑ the Indeht�dness ar the repair vr restorat��n of the Praperty. The net
<br /> praceeds af the awa�d shall mean the award after payment af all reasonable �osts, expenses, and attorneys' fiees
<br /> �ncurred by Trustee or Lender in�onne�tian wi�h the�ondemnativn.
<br /> IMP�SITI�N �F TAXESo FEES AND CHARGES BY G�VERNMENTAL AUTHQR�TIES. The �ollawing pro�isians relat'rng
<br /> #o go�ernmen'�al taxes,fees and charges are a part of this De�d o�Trust: �
<br /> Current Taxes, Fees and �harges. LJpan r�ques� E�y Lender, Trustar shall execute such do�umen�s in additian to
<br /> this Deed vf Trust and take what�ver o�her action is reques�ed by L�nder to perfect and continue �ender's lien on
<br /> the Real P�operty. Trustor shall r�imburse Lender for ai! taxes, as des�ribed below, tagether ►rvith a�� expenses
<br /> incurred in recording, pe��ecting or cvntinuing this �3eed of Trust, including withou�k lirni�ativn ai� �axes, #ees,
<br /> documentary stamps, and other�harges far reco�ding or registering this Deed of Trust.
<br /> Taxes. The following shall canstitute taxes to whi�h this seGtian applies: t1} a specific tax upon this �ype af
<br /> Dee� o�Trust or upan alf or any pa�t at�he fndebtedness s�cured by this D��d of Trus�; ��} a specific tax on
<br /> Trustvr which Trustv�is authorized or required to deduct frvm payments on the Indebtedness se�ured by this type
<br /> a�❑eed afi Trust; �3f a tax on this type af Deed of Trus�chargeab�e against the Lender or the hvfder af the Nate;
<br /> and �4y a sp�cific tax�n all ❑r any portian vf th� Ind�btedness or on paym�n�s of principa� and interest rnade by
<br /> Trustor,
<br /> Subsequen� Taxes. If any tax �o which this sec�ian applies is enaGted subsequent to the date o� #his �eed of
<br /> Trust, �this �vent shall ha�� the same effe�t as an E�ent o� Default, and Lender may exer�ise any or all of its
<br /> available remedies fvr an E��nt of Default as prv�ided �eiow unless Trustor either {1� pays the tax befare i�
<br /> beGames delinquen#, or ��y cvntests the tax as pro�ided abv�e in the Taxes and Liens sec�tivn and depvsits wi�h
<br /> Lender cash or a suffi�ient�orporate surety bond or other se�urity satisfac�ory t� LQnder.
<br /> SE�URlTY AGREEMENT; FINANCING STATEMENTS. The faflawing provisions re�ating to �his Deed of Trust as a
<br /> s�curity agreernent are a part af this �eed of Trust:
<br /> Security Agreemen#. This instrumen� shaff constitu#e a Security Agreement tv the extent any of �he Prop�rty
<br /> cansti�utes fixtures, and Lender shall ha�e all of the rights of a secured party under the Uni�orm Commerc�a� Code
<br /> as amend�d fram tim�to time.
<br /> Security Interes�#. Upon reques� by Lender, Trus�ar shall take whate�er activn is requested k�y Lender to p�rfect
<br /> and cantinue Lender's security interest in the Rents and Persona� Property. ln addition to recording this ❑eed of
<br /> Trust in the rea[ pr�perty recards, Lender may, at any time and with�ut further authorization from Trustor, file
<br /> �xecuted counterpar�s, cvpies ar r�produc�ions v# thi� ❑e�d of Trust as a #inancing staternen�. Trustar shall
<br /> reim�urse Lender fvr all expenses incurred in perfiect�ng vr cnntFnuing this se�urity interest� �pon defau[t, Trus�or
<br /> shall not �ema�e, se�er or detach the Persanal Praper�y from �h� Property. Upon default, Trus�or shall assemble
<br /> any Persvna� Property nat affixed to the Property in a rnanner and at a place reasonab�y con�enient to Trustor and
<br /> Lend�r and make i'� a�ailable to Lender within thre� �3� days aft�r r�ceipt of written r�emand from L�nder tv the
<br /> extent permitted by applicable law.
<br /> Addresses. The mailing addresses of Trustor �debtor� and Lender {secured party� from which infarmation
<br /> c�ncerning the s�curity interest grant�d by this Deed af Trust may be ot�taEned (each as required by the Uniforrn
<br /> �omm�rcial Gade� are as stated on the first page of this D�ed of Trust.
<br /> FURTHER ASSURANCES; ATTaRNEY-IN-FACT. The following pro�isions relating tfl furth�r assurances and
<br /> attarney-in-fac�are a part vf this ❑e�d❑f Trust:
<br /> Further Assurances. At any time, and from �ime to time, upan r�quest af Lender, Trustar wilf make, execute and
<br /> deli�er, or wiil cause�o be made, exe�uted❑r deli�ered, ta Lender ar to Lender's designe�, and when requested by
<br /> Lender, �aus� to be filed, r�corded, refiled, �r rerecarded, as the case may �e, at such times and in such �ffices
<br /> and pla�es as Lender may deem apprapriate, any and afl such rnortgages, deeds o�trust, security deeds, security
<br /> agreements, finan�ing statements, continuafi��n statements, ins�rumen�s �� further assuran�e, �ertificates, and
<br /> vther documen�s as may, in�the sole opinian a� Lender, be necessary vr desirabie in order�o e#�e�tuate, c�mpl�te,
<br /> perfect, �antinue, �r preser�e �1} Trustar's vbligations under the Nvte, this Deed ❑f Trust, and the Relafied
<br /> Dacuments, and ��f the liens and seGurity interests crea�ed by�khis Deed af Trust as first and priar liens an the
<br /> Prflperty, whether n�w awned ar hereafter acquired by Trus�vr. Uniess prahibi�ed by law or Lend�r agrees�n the
<br /> contrary �n writing, Trustor sha�l r�imburse Lender for a�l casts and exp�nses incurred in cvnne�tion with the
<br /> matters referred t� in this paragraph.
<br /> Attorney-�n-Fac#. If Trustor fiails ta do any vf the things re�erred to in th� preceding para�raph, Lender may do so
<br /> far and in the name of Trusto� and at Trustvr'� expense. For �uch purposes, Trustor hereby irre�a�abiy appoin�s
<br /> Lender as Trustar's a�torney-Fn-fa�t�or the purpose a�making, executing, delivering, filing, recarding, and doing all
<br /> flther things as rnay be n�cessary ar desira�le, in L�nd�r's sale �pinian, �o accvmpiish the mat�ers r�ferred ta in
<br /> the precedin�paragraph.
<br /> FULL PERFDRIVI►4NCE. If Trustor pays all the Indebfi�dness, including withou� limi�a��on ai��uture ad�ances, when due,
<br /> and atherwis� performs all th� vbligations imposed upon Trust�r under this ❑eed v# Trust, Lend�r shal! exe�ute and
<br /> deli�er to Trustee a request for full recan��yan�e and shall execute and deli�er to Trustor suitabl� stat�ments o�
<br /> terrnination o� any financing statem�nt on fil� e��dencing Lender's security in��rest in the Rents and the �e�svnal
<br /> Property. Any recon�eyance fee required by law shall be paid by Trustor, if permitted by applicable �aw.
<br /> EVENTS ❑F DEFAU LT. Each of the �oliowing, at Lender's op�ian, shall constitute an E�ent of Default under this D�ed
<br /> �f Trust:
<br /> Payment Default. Trustvr fails ta rnake any payment when due under the Indebtedness.
<br /> ather De�aults. Trus�or #aiis to cvmply with or to perform any oth�r fierrn, abligation, �Q�enan� ar condition
<br /> contained in this Deed a� Trust or in any of �he Related Docum�nts or ta camply w�th or to perform any term,
<br /> obliga�ian, cv�enant or cand�tivn contained in any other agreement b�tween L�nd�r and Trustar.
<br /> Complian�e De�ault. Fa�lure tv cornply with any oth�r term, ab�igatian, co�enant ar Gandition cantain�d in this
<br /> Deed af T�ust,the Note�r in any af the Relat�d D�curn�nts.
<br /> Default on ather Paymen�s, Failure of Trustor within the tim�required by this Deed o�Trust to mak�any payment
<br /> fior�axe�or insurance,or any ather payment necessary to pre�ent filing ❑f or tv e#�ect dis�harge a�any lien.
<br /> Default in Fa�or af Third Par�ies. Should Grantor defauft under any Ivan, ext�nsion vf credit, securi�y agreement,
<br /> purchase vr sales agre�rnent, or any o�he�agreement, in �a�or��f any o�her creditor�r person that may materially
<br /> affect an� of Grantor's property or �rantor's ability to repay th� Indeb�edness or �ran�or's abiiity tv perfarm
<br /> Grantar's��IigatiQns under this Deed o�Trust or any of the Rela��d Documents.
<br /> False 5ta�ements. Any warranty, repres�ntatian �r s�atement rnade ar furnished to Lender by Trus�ar or ❑n
<br /> Trus�or's h�half under this Deed of Trust ar the Related ❑acum�nts is fals� vr misleading in any rnaterial respeCt,
<br /> either naw or at th�time made or furnished or becomes false ar mislead�ng afi any time�herea�ter.
<br /> Defecfii�e Cvlla#eralizativn. This Deed of Trust vr any af the Related Docurnents ceases tv be �n full far�e and
<br /> e��ect �including failure af any �Qllateral document ta create a �aiid and perfected security inter�s�or [ien} afi any
<br /> � �
<br /> :��
<br /> �.�
<br /> �
<br />
|