|
2� 1 ��33��
<br /> DEED C]F TRUST
<br /> �Cotltinu�d� Page 4
<br /> represented in the proceeding by counse� o� its tiv��n choice, and Trus�or will deli�er or cause to be deli�ered to
<br /> Lend�r such instrumen�s and documentation as may be reques�ed by Lender �rom time t� time to permit such
<br /> participation.
<br /> Applicat'ron n�Net Proceeds. �f all �r any pa�t o�the Property is condemned by eminent domain proceedings ❑r by
<br /> any proceeding or pur�hase in lieu o�condemnatian� Lender may at its elec�ion require that a��or any pvrtion af the
<br /> ne� proceeds o� the award be applied t� th� Inde�tedness or the repair ar res�ora�ion af the Property. The n�t
<br /> proceeds o�the av►rard shall mean th� award after payment of all reasanable costs, expenses, and at�arneys' fiees
<br /> incurred by Trustee or Lender in cvnn�cfiian with the condemnation.
<br /> IMPD5ITIDN ❑F TAXES, FEES AND CHARGES BY ��VFRNMENTAL AUTH�RfTiES. The fo�Iowing pro�isions relatin�
<br /> to go�ernmental taxes, fees and char�es are a part❑f this Deed of Trus�:
<br /> Current Taxes, Fees and Charges. Upon r��u�st by Lender, Trus�or shall exe�ute such documents in addition �o
<br /> this ❑eed ofi Trus�and take whate�er other actian i� requested hy Lender�� perfect and cantinue Lender's lien on
<br /> th� Rea� Praperty. Trus�vr sha[� reim�urse Lender for all taxes, as described helow, �ogether with all expenses
<br /> incurred in recording, perfecting or continuing this Deed of Trus�, including without I�mitation all taxes, fees,
<br /> documentary s�amps, and other charges �or recvrding or registering this Deed o�Trust.
<br /> Taxes. The following shaff constitute taxes to which this sectivn applies: �1� a specif�c fiax upon �his type o�
<br /> ❑eed o�Trust or upan all or any part ❑�the inde�tedness se�ured �y this Deed o� Trust; �Z} a specific tax on
<br /> Trustor which Trus�vr is auth�ri�ed ar required to deduct from payments on�he �ndebtedness secured by�his �ype
<br /> af Deed o�Trust; �3� a tax an this type o�Deed o�Trust chargeable agains�the Lender ar the holder of the Nate;
<br /> and �4} a speci-�ic tax ❑n all or any portion ❑f the �nd�btedness ar on payments of principal and interest made t�y
<br /> Trustor.
<br /> Suhsequent Taxes. I� any tax to which this secti�n app��es is enacted subsequen� to the date o� �h�s Deed of
<br /> Trust, �his e�ent sha�� ha�e the same effec� as an E�ent o� De�au�t, and Lender may exercise any or all of its
<br /> a�ailable remedies �or an E�ent of Default as provid�d below unless Trustor either ��� pays th� tax �e#ore it
<br /> becomes delinquent, or ��} contests the tax as pra�id�d abo�e in fihe Taxes and Liens section and depos�ts with
<br /> Lender�ash vr a su�ficient corporate surety band or❑�her security satisfactory to Lender.
<br /> SECURITY AGREEMENT; FINANCING STATEMENTS. The follawing pro�isians relating to this Deed of Trust as a
<br /> se�uri�y agreement are a par�❑f this Dee�i o�Trust:
<br /> 5ecuri�y Agreemen#. This instrument shai� constitute a Security Agreement �o �he extent any of the Proper�y
<br /> cansti�utes fixtures, and Lender shall ha�e all �f the rights o�a secured party under the Uniform �ommercial Code
<br /> as amended from time to time.
<br /> Secu�i#y Interest. Upon request �y Lender, Trustor shall take wha�e�er actian is requested �y �ender ta perfect
<br /> and continue Lender's security interest in the Rents and Personal Proper�y. In addition ta recording �his I�eed a�
<br /> Trust in the �eal proper�y rec�rds, Lender may, at any time and wi�hou� further author��at��n �rom Trus�ar, fil�
<br /> executed �aunterpar�s, �opies ar reproductions o� �his Deed �f Trust as a �inancing statem�nt. Trus�or shall
<br /> reimburse Lender for ail expenses incurred in per�ecting vr �antinuing �his security interest. Upan de�ault, Trustor
<br /> shall not remo��, se�er or detach the Personal Prvperty from �he P�operty. �pan defaul�t, Trustor sha�I assemble
<br /> any Persvnal Prvperty not a��ixed to the Proper�y in a manner and at a p�ace r�asonably con�enient to Trustar and
<br /> Lender and make it a�ailab�e to Lender within three t3� days afiter receipt of wr�tten demand fram Lender to �he
<br /> extent permi��ed hy applica�(e law.
<br /> Addr�ss�s. The mailing addresses o� Trustor {debtor} and Lender �secured party3 ��om which informatian
<br /> �ancern�ng the se�uri�y interest granted by �his Deed of Trust may �e �btained teach as re�uired hy fihe Uniform
<br /> Commer�ia� Code� are as s�a�ed on the�irst pag�o�this Deed af Trust.
<br /> FURTHER ASSURANGES; ATT�RNEY-lN-FACT. The foliowing pro��s�ans relating �v fur�her assurances and
<br /> attorney-in-fac�are a part o�this Deed of Trus#:
<br /> Furthe�Assurances. At any time, and from time to time, upon reques� of Lender, Trustor will make, execute and
<br /> deli�er, or will cause�o be mad�, �x�cuted flr deli�ered, to Lender or�o Lender's designee, and when requested �y
<br /> Lender, �ause �o be filed, reCorded, refiled, or rer�co�ded, as the case may be, at such tim�s and in such offi�es
<br /> and places as Lender may deem appropriate, any and a[[ such mortgages, deeds af�rust, security deeds, security
<br /> agreements, financ�ng stat�menfis, con�inua�ion statements, instruments a� �ur�her assuran�e, certi��cates, and
<br /> ❑ther documents as may, �n th� sole opinivn of Lender, be necessary or desirab�� in order to effectuat�, compl�te,
<br /> perfect, continue, or preser�e �1 y Trustor's ot�ligations under the No�e, this Deed o� Trust, and the Re�ated
<br /> ❑ocuments, and �2� the liens and security �nterests created by this [Jeed of Trust as first and prior liens �n the
<br /> Property, whether now owned or hereaf�er a�quired by Trusto�. Unless prohibited by �aw or Lender agrees to the
<br /> �antrary in writing, Trustor shall reimburse Lender f�r all casts and expenses incurred �n connect�on with the
<br /> matters referred to in this paragraph.
<br /> Attorney-in�Fact. �f Trustvr #ails to do any of�he things referred to in the pre�eding paragraph, Lender may do so
<br /> �ar and in th� name of Trustor and at Trust�r's expense. For su�h purposes, Trus��r hereby i��e�ocably appoints
<br /> Lender as Trustor's a�torney-in-fac�for the purp�se vf mak�ng, executing, deli�ering, filing, rec�rding, and doing all
<br /> other things as may be necessary or desirahle, in Lender's sofe ❑pinion, to accamplish the mat�ers re�erred to in
<br /> the preceding paragraph.
<br /> FULL PERFflRMANCE. lf Trus�or pays all the Indebtedness, �ncluding without limita�ian all tuture ad�ances, wh�n due,
<br /> and otherwis� performs all the obliga�ions imposed upon Trustor und�r this Deed �f Trust, Lender sha�i execute and
<br /> de�i�er to Trustee a request �or fiull re�on��yance and shall execute and de�i�er to Trus�or sui�abl� statem�nts of
<br /> termination vf any financing statement vn file e�idencing Lender's security interest �n the Ren�s and the Persanal
<br /> Pr�perty. Any recon�eyanc�fee required by !aw shail be paid by Trus�or, if permit�ed by applicable law.
<br /> EVENTS UF DEFAULT. Each of the f�ffawing, at Lender's option, shall consti�u�e an E�ent a� De�ault under�his Deed
<br /> vf Trust:
<br /> Payment De#ault. Trustar fails�o make any payment when due under the Indebtedness.
<br /> 4th�r ae#au��s. Trustor fails to comply wi�h or �v perfiorm any other t�rm, ohligation, co�enant or condition
<br /> canta�ned in this Deed a� T�ust o� in any of th� Related D�cuments or to comp�y with or �o perform any term,
<br /> obligation, co�enant or condition conta�ned in any other agreemen�between L�nder and Trustor.
<br /> Cvmpliance Default. Failure ta compiy with any other term, obligation, co�enant �r condition cvntained in this
<br /> Deed of Trust, the Note or in any vf the Related ❑ocum�nts.
<br /> Default an �ther Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment
<br /> for taxes�r insurance, ar any other payment necessary tv pr��ent�iling af or to effec�discharge o�any lien.
<br /> Defauifi in Fa�or of Third Parties. Should Grantor defiauit under any �oan, extension of credit, s�cur�ty agreement,
<br /> pur�hase or sales agreement, �r any other agreement, in fa�or o�any ather creditvr �r person that may materially
<br /> a��ect any vf �rantor's property or �rantor's abili�y to repay the Ind�bt�dness or Grantor's ability ta per�orm
<br /> Grantor's obligations under this Deed of Trus�or any af�he Rela�ed ❑ocuments,
<br /> False 5#atements. Any warranty, representation ar sta�ement made or furnished �o Lender k�y Trustor or on
<br /> �
<br /> �
<br />
|