|
2� 15�7983
<br /> DEED �F T`RUST
<br /> ���ntinu�d� Pag� 4
<br /> in�urred in re�arding, perfecting ar cantinuing th�s Deed af Trust, including without limitation all taxes, fees,
<br /> da�umen�ary stamps, and other charges#or recording or reg�s�rering this t�eed of Trust.
<br /> Taxes, The #ollawing shaif constitute taxes to which this section applies: {1} a spe�ifi� tax upon this type a#
<br /> De�d of Trust or upon afl ❑r any part of the Inde�t��ness secured'�y this Deed vf Trus�; �2y a specifiG tax on
<br /> Trustor ►nrhich Trustor is autharized or required to deduct#rom payments an the lndebtedn�ss secu�ed by this type
<br /> of D�ed of Trus�; {3� a tax on this type af Deed af Trus�chargeabie against the Lender ar the holder of the Cr�dit
<br /> Agreemen�; and �4y a specifiC tax an all or any portian o� the Indeb��dness or on payments af pr�ncipal and
<br /> int�res�made by Trustor.
<br /> Subsequent Tax�s. If any tax �to which this se�tion applies is �nacted subsequent to �he date ofi this Deed of
<br /> Trust. �this e�ent shall ha�e �he same ef�ec� as an E�ent o# D�fault, and L�nder may exercise any or all of its
<br /> aWailable remedies f�r an E�en� vf Default as prv�ided b��ow unless Trustor either �1} pays the tax befare it
<br /> hecomes definquent, or �2� contest� the tax as prouided abaue in the Taxes and Liens sectian and deposi�s with
<br /> Lender cash vr a suffici�nt corparate surety bvnd vr oth�r security satis�actary�v Lender,
<br /> SECURiTY AGREEMENT; FINAN�ING STATEMENTS. The follawing provisions re�ating ta �his De�d of Trust as a
<br /> security agreem�nt are a parfi af�his Deed of Trus�:
<br /> Se�urity Agreement. This instrument shall �onstitute a Securi�Cy Agre�ment to th� ext�nt any of �he Property
<br /> constitut�s fixtures, and Lender shall ha�e a�f of the rights o�a secured party und�r the Unifvrm Commercial Code
<br /> as amended fram�ime�o time.
<br /> Securi�y Inter�st. Upon requ�st by Lender, Trustvr shall take whate�er activn is requested by Lender to perfec�
<br /> and Gvn�inue Lend�r's s�curity interest in the Persvnal Property. ln addi�ivn tv rec�rding th�s Deed of Trust in fihe
<br /> real property recards, Lender may, at any time and withaut further authorFzatian from Trus�or, file execut�d
<br /> caunterparts, capies ar reproductions of this Deed af Trust as a f�nanc�ng stat�ment, Trustor shall reimburse
<br /> Lender for all expenses incurred in perf�cting or cvn�inuing this s�curity interest. Upon default, Trustor shall nat
<br /> remo�e, se�er or detach the Personaf Property from the Praperty. Upon d�fault, Trustor shall assemble any
<br /> Personal Prvperty not affixed to the Praperty in a manner and a� a p�ace reasona�ly ��n�enient to Trustor and
<br /> Lender and make it a�as�ah�e �v Lender wtthin three {3} days a�ter receipt of written demand from Lender to the
<br /> extent permitted by appl�cable law.
<br /> Addresses, The maifing a�ldre�ses v� Trustar {d�btorf and Lender {secur�d par�y� frvm which information
<br /> concerning the security interest granted by �his Deed vf Trust may tae ob�ained �each as required by the Llniform
<br /> Commerc�al Code� are as stated an the firs�page o�this Deed of Trust.
<br /> FURTHER ASSURANCES; ATT�RNEY-IN-FACT. The fallvwing p�o�isians relating to further assurances and
<br /> attarney-in-fact ars a par�af this Deed of Trust:
<br /> Further Assurances. At any time, and �rom time t� tim�, upvn request v� Lender, Trustvr will make, execute and
<br /> del��er, or wili cause ta he made, exeGuted or deli�ered, to Lender or ta Lender's d�signee, and when request�d by
<br /> Lender, cause t❑ be f��ed, recvrded, refiled, ar rerecorded, as �he case may be, at such times and in SUCh ���'!C�'S
<br /> and p�ace� as Lender may deem appropriate, any and all such m�rtg�ges, de�ds o�trust, security deeds, security
<br /> agreements, financing statements, continuatian sta�ements, instruments of �urther assurancer certif��ates, and
<br /> other docum�nts as may, in the sole vpinion a# Lend�r, be necessary a�desirabfe in order ta effectuate, camplete,
<br /> p�rfect, con�inu�, or preser�� �1� Trustor's obligations under the Credit Agreement, this Deed af Trust, and the
<br /> Related Documents, and ��� th� li�ns and security interests �reated by this D�ed o� Trust on the Property,
<br /> wh�ther now vwned or hereafter acquired by Trustor, Unless�rohi��t�d by faw ❑r Lender agre�s to the contrary in
<br /> wri�ing, Trustar shall reimhurse Lender far alf casts and �xpenses incurr�d in canne�ti�n with the ma�te�s referred
<br /> to in this paragraph.
<br /> AttQrn�y-in-Fa�t. If Trus�Cor �ails �a do any of the things re�err�d �o in the preceding paragraph, L�nder may do so
<br /> far and in the name o�Trustor and at Trustor's expense. For such purpases, Trustor he�eby irre�o�ably appaints
<br /> Lende�as Trus�or's attorney-�n-fact#or the purpose af makingr exe�uting, d�li�ering, filing, recarding, and d��ng all
<br /> other things as may be nec�ssary ar desirabie, in Lend�r's so�e opinion, to accomplish the matters re#erred to in
<br /> fhe preceding paragraph.
<br /> FULL PE�F�RI'IJIANCE. I�Trustor pays all the �ndebt�dness when due, terminat�s the credit line account, and otherwise
<br /> p��forms all tk�e vh�igatians imposed upan Trustor urtder this Deed o��rust, Lender shaSS execute and deli�er to Trustee
<br /> a request for full re�on�eyance and shafl �xeGute and deli�er ta TfLlStDI' suitable statements �f �terminativn of any
<br /> �inancing stat�ment on fiile e�fd�ncing Lend�r's securi�y interes� in the Ren�s and the Personaf Property. Any
<br /> reGan�eyance�ee r�quired by faw shal� be paid by Trustorr i�p�rmitted by applica��e law.
<br /> EVENTS �F DEFAULT, Trustor wifl be in de�au�t under this Deed of T�ust if any o�f the folfowing happ�n: {A� Trustor
<br /> commits #raud ar makes a material misrepr�sentation at any time in cannec�tion v►rith �he Credit Agreement. This �an
<br /> InCll]dE, fC}I" example, a �alse sta�ement about Trustor's incamer d55@�5� liabiliti�s, �r a��l other aspec�ts of Trustor's
<br /> financia! c�nditian, �B� Trus�or daes na� meet th� repayment terms o�th� ��edit Ag��ement. �C} Trus�or's act+on or
<br /> inaGtivn ad�erseiy affiects th� Golla�eral or Lender's righ�s in the cvllateral. This can include, for exampie, �Failur� tn
<br /> maintain required insuran�e, waste or destru��i�e use af the dwelling, failu���o pay�axes, d�ath of all p�rsons liable on
<br /> the acc�unt, transfer of title nr sale of the duvefling, creation af a senior lien an xhe dwelling withaut Lender's
<br /> p�rmssssan, #flrec�osure by the h�{der❑#another lien, ar the use o�funds vr th� dwel�ing for prflhibited purposes.
<br /> Ri�HTS AN❑ REMED�ES �N DEFAULT, �f an E�ent of Defiaul� oGcurs under this Deed a#Trust, at any time thereafter,
<br /> Trustee ar Lender may exercise any one ar mor�vf the following rFghts and remedies:
<br /> A�ceferativn Upon Defau�t; Additional Remedies. ifi any E�ent o�Default occurs as per the �erms of the Credit
<br /> Agreement secured hereby, Lender may declar� all Indebtedness secured by xhis �eed o�Trust tv be due and
<br /> payabfe and the same sha�� ther�upon b�come due and payable without any presentmen�, demar�d, pro�est ar
<br /> nati�e afi any kind. Thereafter, L�nder may;
<br /> �af Eithe€� in person ar by agent, w�th or without �ringing any action vr proceeding, or by a recei�er
<br /> appointed by a court and withvut r�gard to the adequacy of its security, enter upon and take passessian
<br /> v��he Property, or any part thereof, in its own name ar�n the name o�Trustee, and do any a�ts which it
<br /> deems ne�essary ar desirable tv preser�e the r�alue, mark�tability or�entahi�ity af�he Property, or part vf
<br /> the Property or interest in th� Property; increase the income �rom the Pr�perty ar protect the security of
<br /> �h� Property; and, with or without taking possessian of the Property, sue for or otherwise collect �h�
<br /> rents, issu�s and profits of th� Praperty, including th�se past due and unpa�d. and appiy �he samer I�ss
<br /> casts and expenses❑fi ap�ra�i�n and collection attorneys' fees, ta any ind�b#edness secured by this Deed
<br /> of Trust, all in such �rder as Lender may d�termine. The entering upon and taking possessivn o� the
<br /> Property, the call�cti�n ❑f such rents, issues and pro�its, and the applicatian thereof shall not cur� or
<br /> wai�e any defauft or notiG� of default under this Deed af Trus� ar in�alidat� any act done in response to
<br /> such defau[t vr pu�suant�a such notice of default; and, notwiths�anding the continuance in possessian af
<br /> the Prap�rty or the colle�t��n, receipt and app�icatian af ren�s, issues or prafits, Trustee �r Lender shall
<br /> b� en�itled ta �xercise e�ery right pro�ided for in the Credit A�reement or the Refated Documen�s flr by
<br /> law upon the accurrence af any e�ent ofi defaul�, in�lud�ng the right tv ex�rcise the pawer vf�ale;
<br /> ��y CommenGe an ac�ion to forecl�se this Deed of Trust as a martgage, appaint a r�cei�er or spe�ifically
<br />
|