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2� 1 ��3279
<br /> DEED �F TRUST
<br /> �Continued� Page 4
<br /> may be the nominal par�y in such proceed�ng, hut Lender shall be entitled to participate in the prviceeding and t❑ be
<br /> rep�esen�ed in the proceeding by counse� o� its awn choice, and Trus�vr will deli�er or �ause to be deli�ered to
<br /> Lender such instruments and documentation as may he requested by Lender from time ta time to permit such
<br /> participa�ion.
<br /> Applicativn of Net Proceeds. If aii or any part of�he Property is condemned by emin�nt domain praceedings or by
<br /> any proceeding ar purchase in lieu of condemna�ion, �ender may a�i�s ele�tion require that ali or any portion❑�the
<br /> ne� proceeds vf the award be applied to the !ndebtedness vr the repair or r�storation of the Property. The net
<br /> pro�eeds of the award shall mean the award after payment af all reasonable �osts, expenses, and a��orneys' f��s
<br /> incurred by Trustee ar Lender in conne�tion wi�h�he condemna�ion.
<br /> IMPQSIT[DN OF TAXES, FEES AND CHARGES gY G�VERNMENTAL AUTH�RITIES. The fol�owing pro�isivns relating
<br /> to go�ernmen�al tax�s, �ees and charges are a part of�his �eed of Trust:
<br /> Current Taxes. Fees and Charges. LJpan request by Lender, Trus�or shall execute such documents in addi�ion to
<br /> �his Deed of Trust and take whate�er other action is requested by Lender to perfiec� and continue Lender's lien on
<br /> the Real Praper�y. Trustor shaf� reimJ�urse Lender fvr all taxes, as described below, t�gether w�th all expenses
<br /> incu�red in recording, perfecting or continuing this Deed of Trust, including wi�haut limitation a�l taxes, �ees,
<br /> documentary s�amps, and other charges�or re�ording ar registering this Deed of Trust.
<br /> Taxes. The following sha�� const+tute taxes to whi�h this se�tion applies: �1 y a speci�ic tax upon this type of
<br /> De�d o�F Trusfi �r upon al! or any part ofi the Indet�tedness secured by fihis Deed nf Trust; {�} a specific tax on
<br /> Trustor which Trus�or is authorized ar required to deduct from payments on the Indeb�edness s��ur�d by this type
<br /> of Deed of Trus�; 43� a tax on this typ� o�Deed o�Trust chargeahle against the Lender ar the holder o�the Note,
<br /> and 44� a specific tax �n all or any partion of the Indehtedness ❑r on payments o�F principal and inter�st made by
<br /> Trustar.
<br /> 5ubs�quent Taxes. If any tax t� whi�h this SeCti�n applies is enacted suhsequent to the da�e of this D�ed �f
<br /> Trust, th�s e�ent shall ha�e �he same effect as an E�ent ❑� Defau�t, and Lender may exercise any or ali �� its
<br /> a�ailable remedies for an E�ent of Defaul� as pr��id�d below unl�ss Trustor either �1} pays th� tax before �t
<br /> bec�mes deiinquent, �r ��} cvn�es�s the tax as pro�ided abo�e in the Taxes and Liens section and d�p�sits with
<br /> Lender cash❑r a su�F�icient corporate surety bond or o�her security satisfactory ta Lender.
<br /> SECURITY AGREEMENT; FINANGINC STATEMENTS. The follvwing pro�isions relating ta th�s Deed of Trust as a
<br /> security agreement are a pa�t o�this ❑eed �f Trust:
<br /> 5ecurity Agreement. This �nstrument shali canstitute a 5e�urity Agre�ment ta �he ext�nt any of the Property
<br /> constitutes fixtures, and Lender shall ha�e all of the rights of a se�ured par�y under�he Uniform Commer�ial Code
<br /> as amended fram tim�to time.
<br /> Security [n�eres�. lJp�n request hy Lende�, Trustor shall take whate�er action is requested by Lender to perfec�
<br /> and cantinue Lender's s�cur�ty interest �n the Rents and Personal Property. (n addi�ion t� recarding this Deed of
<br /> Trust in the real property recards, Lender may, at any time and withaut further authorizatian from Trustor, file
<br /> execut�d �ounterparts, copies or reproductions af this Deed afi Trust as a financing statement. Trustor shali
<br /> reimburse L�nd�r far all expenses �ncurred in perfecting or continuing this security inte�est. Upon default, Trustor
<br /> shall no� remo�e, se�er or detach the Personal Proper�y �ram the Proper�y. Up�n defauft, T�ustor shall assembl�
<br /> any Personal Property not a���xed to the Property in a manner and a�a place r�asanably con��nient ta Trus�tor and
<br /> Lender and make i� a�ailab[e to Lender within three �3} days after receipt �f writ�en demand from Lender to the
<br /> extent permitted by appli�ab(e law.
<br /> Addresses. The mailing addresses o� Trusto� �d�btor} and L�nder �secured party� from which in�ormatian
<br /> concerning �he security in�eres� granted by this ❑eed of Trust may be vbta�ned {each as required by ths Un�farm
<br /> Commereiaf �ode� are as stated on�he first page vf this Deed o�Trust.
<br /> FURTHER ASSURANCES; ATT�RNEY-IN-FA�T. The following pro�isions relating to furthe� assurances and
<br /> attorney-in-fa��are a part o�this Deed o�Trust:
<br /> Further Assurances. A� any time, and from �ime �o time, upon requ�st of Lender, Trustor will make, ex�cute and
<br /> defi��r, nr wil! cause to be made, executed or deii��red, to Lender or to Lender's designee, and when r�quested by
<br /> Lender, cause to be filed, re�orded, refiled, ar rerecord�d, as th� case may be, at such times and �n such offices
<br /> and places as Lender may deem appropriate, any and all sueh mortgages, deeds o�trust, security deeds, security
<br /> agreements, financing statements, cantinua�ion s�atements, ins�ruments of furth�r assu�ance, certificates, and
<br /> other documents as may, in the svle opinion of Lender, b� necessary vr d�sirable in order to e��ectuate, complete,
<br /> perfect, con�inue, or preser�e �1} Trustor�5 abligations under the Note, this Deed o� Trust, and the Rela�ed
<br /> �ocuments, and ��y the liens and secur�ty interests created �y this Deed of Trust as first and priQr liens on the
<br /> Property, whether now owned or hereafter acquired by Trustor. Un�ess prohihited by law or Lender agrees to the
<br /> contrary in writing, Trustor shall reimburse Lender �or afi costs and expenses in�urred in connection w€th �he
<br /> matters re�e��ed to in this paragraph.
<br /> A�torney-in-Fa�t. I�Trustor fails to do any of the things referred to in the pr�c�ding paragraph, Lender may do sa
<br /> for and in the name o�Trustor and at Trustor`s expense. Fvr such purposes, Trustar hereby irre�ocably app�ints
<br /> Lender as Trustor's attorney-�n-fact for the purpose of rnaking, execu�ing, deli�ering, �iling, recording, and doing all
<br /> other things as may be necessary or desi�able, in Lender's sol� apinion, to a�complish the matters re�erred to in
<br /> tF�e p�eceding paragraph.
<br /> FULL PERFqRMANCE. If Trus�ar pays all the indebtedness when du�, and otherwise performs all the obligations
<br /> imposed upon Trustor under this Deed of Trust, Lender shall execute and deli�er to Trust�e a reques� for fu��
<br /> recon�eyance and shall execute and deli�er to Trus�or sui�able statements �f�ermination o� any fiinancing s�atement on
<br /> fi�� e�idencing Lender's security interest in �he Rents and the Persanal Praper�y. Any recon�eyanc� f�e r�quir�d by �aw
<br /> shaf! be paid by Trustor, if permitted by app�ica�l� �aw.
<br /> EVENTS �F ❑EFAULT. Ea�h of the fallowing, at Lender's option, sha�i canstitu�e an E�ent of Default under this Deed
<br /> of Trus�:
<br /> Paymen�De�ault. Trustor�a�ls to make any payment when due under the lndebtedness.
<br /> �ther Defaults. Trus�or fails to compfy with or to per�o�m any other term, obligativn, c��enant or condition
<br /> cantained in this Deed vf Trust or in any of the R��ated Documents or to comply wi�h or �o per�orm any term,
<br /> obligati�n, co�enant or condi�ion contained in any other agr��ment between Lender and Trus�or.
<br /> Compliance Default. Failure �o camply with any other term, ob�igativn, co�enant or condi�ion contained �n this
<br /> ❑eed a�Trust, the Note or in any of the Relat�d Do�uments.
<br /> Defau[t vn D#her Payments. Failure of Trustor within the time requ�red by this Deed of Trust to make any paymen�
<br /> fior taxes or insurance, or any o�her payment nec�ssary to p�e�ent�i�ing o�or to effect discharge of any fien,
<br /> Defaul#in Favor v�Third Par�ies. 5hould Grantar defiauit under any loan, �xtensian of credit, security agr��m�nt,
<br /> purchase or sa�es agreement, ar any other agreement, in fa�or o�any othe� credito� ar person that may mater�al�y
<br /> affect any of Granfior's proper�y ar Grantvr's ability ta repay the Indebtedness or Grantor's abili�y to per�orm
<br /> Grant�r's ob�igations under this Deed of Trus�or any of the Related Documents.
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