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2� 1 ��228�
<br /> DEED DF TRUST
<br /> �Continued� Page 4
<br /> ne� pro�eeds of the award be applied �o the 1ndel��edness vr the repair or restorativn of �he Property. The net
<br /> proceeds of the award shall mean the award after payment of af[ reasonahl� costs, expenses, and attorneys' fees
<br /> incurred by Trustee or Lender in connec�ion�rvi�h the cvndemnati�n.
<br /> IMP�SITIDN QF TAXES, FEES AND CHARGES BY GDVERNMElVTAL AUTH�R1TlES. The �ollowing pra�isians relating
<br /> t❑go�ernmenta!taxes, �fees and �harges are a part vf this D�ed of T�ust:
<br /> Current Taxes, Fees and Cha�ges, Upan requesfi by Lende�, Trustor shall execu�e such do�uments in addition to
<br /> this Deed o�Trust and �a�e whate�er oth�r action is requested by Lender to perfec�and continue Lender's lien vn
<br /> the Real Praperty. Trus'��r shall reim�urse Lender for al! �ax�s, as descrihed below, together with all expenses
<br /> in�urred in re�ording, perfecting or c�ntinuing �his D��d o� Trust, including withou� limitation a�� taxes, fees,
<br /> da�umentary stamps, and ❑�her charges for recording ar register�ng this Deed of Trust.
<br /> Taxes. The �ollowing shall consti�ute taxes to which this s�ction applies: �1} a speGific �ax upvn this type of
<br /> Deed of Trust or upon all or any part of the Indebt�dn�ss secured by �his Deed of Trust; {�� a speci�ic �ax on
<br /> Trustor which Trustor is authorized or r�quired to deduct fram payments on the Indebtedness secured by this type
<br /> ❑�F Deed �f Trust; �3� a tax vn this type of Deed of Trust chargeable aga�nst�he Lender�r the holder of the Note;
<br /> and �4} a spec��iC �ax ❑n all ar any por�ivn of the Indebtedness or vn payments of principal and interest made by
<br /> Trus�or.
<br /> 5uhsequen� Taxes. �� any tax to which this section applies is enacted sul�sequent to the da�e of this D�ed of
<br /> Trus�, �his e�en# shali ha�e the same effec� as an E�ent of Default, and Lender may exercise any or a[f of its
<br /> a�ailable remed�es �vr an E�ent of Default as pro�ided below unless Trusfior either �1� pays �he tax bef�r� it
<br /> b�comes delinquent, or �2} contests the tax as pro�ided abo�e in the Taxes and Liens section and deposits w�th
<br /> Lender cash or a su���cient carpora�e sure�y bond or o�her security satis�actory to Lender.
<br /> SECURITY AGREEMENT; F�NANC�NG STATEMENTS. The following pro�isions re[ating to this Deed vfi Trust as a
<br /> security agreement ar�a part o�this Deed a�Trust:
<br /> Security Agreement. This instrum�nt sha11 constitute a 5ecurity Agreement ta the �x�tent any o�r the Proper�y
<br /> constitutes fix�ures, and Lender shal� ha�e all a�the rights of a secured party under�he LJniform Commercial Code
<br /> as amend�d�ram time�v time.
<br /> Security Interes#. Upon request by Lender, T�ustor shai� take whate�er actian is reques�ed by Lend�r to per�ec�
<br /> and cvntinu� L�nder's securi�y in�erest in the Rents and Personal Prvperty. In addition �o recording th€s Deed of
<br /> Trust in the real proper�y records, Lender may, at any tim� and without turther authariza�ion fr�m Trustor, file
<br /> executed �ounterparts, cvpies or reprvductivns of this Deed o� Trust as a financing s�a�ement. Trustor shall
<br /> reimburse Lend�r for af� expsns�s incurred in perfecting ar continu�ng �his secu�ity interest. Upon defauCt, Trustor
<br /> shall no� rema�e, se�er or deta�h the Persvnal Proper�y from fihe Property. upon de�ault, Trustor shalf assemble
<br /> any Personal Property not a�#ixed to the Prvper�y in a manner and at a pfa�e reasona�ly con�enient to Trustor and
<br /> Lender and make it a�aifahle to Lender vuifihin three 43} days after re�eipt of written demand frvm Lender tv the
<br /> extent permitted by applicable �aw.
<br /> Addresses. The mailing addresses ❑f Trustor 4debtor3 and Lender �secured party� firom whi�h in�armation
<br /> Gvn�erning �he security �n�erest granted by this Deed o�Trust may be obtained �each as �equired by the Llniform
<br /> Commercial Code� are as stated ❑n�he first page of this Deed of Trust.
<br /> FURTHER ASSURANCES; ATTaRNEY�IN-FA�T. The follvwing prv�isians re�ating ta �ur�her assurances and
<br /> attarney-+n-�act are a part of this ❑eed o�Trust:
<br /> Furth�r Assurances. A� any time, and from �€me tv time, upon reques�of Lender, Trus#ar w�ff make, �xe�ute and
<br /> deli�er, ar w��� cause to be made, executed or del€�ered, to Lender or tv Lendsr's designee, and when �equested by
<br /> Lender, cause to be filed, recvrded, refiled, or rerecorded, as the case may be, a� such times and in such offices
<br /> and places as L�nder may deem appropriate, any and al[ such martgages, deeds o�trus�, security deeds, security
<br /> agreements, financing statements, continuation statements, �nstruments o� �urther assurance, cer�ificates, and
<br /> ❑ther documents as may, �n the sole opinion of Lender, be necessary or desirab(e �n order to e#fec�uate, complete,
<br /> pe��ect, continue, or pr�ser�s �1} Trustar's ohliga�ivns under the Note, this D��d of Trust, and the Related
<br /> Documents, and ��y the [iens and se�urity interests created by �his Deed of Trust as �irst and priflr liens on th�
<br /> Prvperty, whether now owned or hereafter acquired by T�ustor. Unless prohibi�ed by �aw or Lend�r agrees tv the
<br /> c�ntrary in writ�ng, Trustvr shall �eimburse Lend�r f�r ail �osfis and �xpenses inGurred in connect�on with the
<br /> matters ref�rred to in th�s paragraph.
<br /> Attorn�y-in�Fact. I�Trusto� fai�s ta do any of th� things referred to in �he preceding paragraph, Lender may do sa
<br /> for and in the name of Trustor and at Trustor's expense. For suGh purposes, Trustor h�reby irre�o�ably appoin�s
<br /> Lend�r as Trustor's attorney-in-fact for�h� purpose af making, execu�ing, delivering, filing, recording, and doing aff
<br /> o�ther things as may be necessary or desirah�e, in Lender's sole opinion, to accomplish the matters referred to in
<br /> the pr�c�ding paragraph,
<br /> FULL PERF�R1111AIVCE. I�Trustor pays all the lndebtedness, including w�thout �imitativn a�! future ad�an�es, when due,
<br /> and ❑therwise perfiarms al[ the obli�ations imposed upon Trustor under this Deed of Trust, Lender shall execute and
<br /> deli�er to Trustee a request f�r full recon�eyance and shall execu�e and deli�er to Trustvr suitable statements ��
<br /> terminati�n o� any financing statement �n �ile e��dencing Lender's securi�y in�erest in the Rents and the Personaf
<br /> Proper�y. Any r�con�eyance fe� required by law sha[f be pa�d by Trustv�, ��pe�mitted by applicable faw.
<br /> EVENTS DF DEFACILT. Each of the following, a� Lender's opti�n, shal� constitute an E�ent af Defaul� under this ❑eed
<br /> o#Trust.
<br /> Payment Defau�t. Trustor�ails to make any paymen�when due under the lndebtedn�ss.
<br /> �ther Defaults. Trustor faifs t� �omply with vr tv perform any v�her t�rm, obligati�n, co�enant or condition
<br /> contained �n this Deed of Trust or in any v� the Related Dacuments or to comply with or t� per�orm any �erm,
<br /> obliga�ion, co�enant or condi�ion��ntained in any vther agreement between Lender and Trustor.
<br /> Compliance De�ault. Fai�ur� tv cvmply with any other �erm, obligation, co�enant ar cvndition contained in th€s
<br /> Deed❑�Trust, the Nate or in any o�the R�lated ❑flcumer�ts.
<br /> De#au�t on Dther Payments. Failure of Trusfior with�n�he time required by this ❑eed of Trust to make any payment
<br /> �or�axes or insurance, or any other payment necessary to pre�ent�iling o�or to effec�discharge�f any lien.
<br /> Default in Fa�or of Third Parties. Should Grantor default under any I�an, extensian ❑f credi�, security agreement,
<br /> purchase or sa[�s agreement, or any other agreement, in fa�ar o�any other creditor ar person that may materially
<br /> affec� any �f Grantor's proper�y or Grantvr's ability to repay the Inde�tedness or Gran�ar's ability ta perform
<br /> �rantor's obligations und�r this Deed of Trust�r any af the Re�ated ❑vcuments.
<br /> False 5tatements. Any warran�y, �epresentation ❑r statem�nt made ar furnished to Lender by Trustvr or on
<br /> Trus�or`s beha�� under this Deed of Trust or the Re[ated �acuments is faise vr misleading in any mater�al respeC�,
<br /> �ither nvw vr at the time made or furnished or bec�mes�afse or misleading at any time thereaft�r.
<br /> Defec�i�e Coilaterafizativn. This Deed af Trust or any ❑f the Re�ated Docum�nts ceases to be in fu[[ force and
<br /> e��ect �including failur� o� any Gollateral document t❑ crea�e a �afid and perfected secu�ity interest or lien� at any
<br /> �ime and �or any reasan.
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