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2� 1 ��3�39
<br /> DEED DF TRUST
<br /> ��ontinued� Page 4
<br /> participation.
<br /> Applica#�on vf Net Prviceeds. �f all or any part of the Property is condemned �y em�nent d�main proceedings ❑r by
<br /> any pro�eeding or purchase in lieu of condemnati�n, Lender may at its electi�n r�quire that a�l or any po��ion of the
<br /> net proceeds ❑f the award be applied to the Indebtedness or the repair or restorat�on a� the Praperty�. The net
<br /> prviceeds v�r the av►rard shall mean th� award after payrnent of ail reasonable cvsts, expenses, and attorneys' �ees
<br /> in�u�red hy Trustee vr Lender in�vnn�ction with th� cond�mnation.
<br /> IMPDSITIDN �F TA�ES, FEES AND �HARGES BY G�VERNMENTAL AUTH�RITIES. The fol�owing pro�isians relating
<br /> to go�ernmental taxes, fees and ehar�es are a part of this Deed�f Trust:
<br /> Current Taxes, Fees and Charges. lJpon reques� by Lender, Trustor shall execute such documents in addition to
<br /> this ❑�ed of Trust and �ake whate�er o�her a�ti�n is request�d by Lender t� perfect and cantinue Lender's lien on
<br /> the Rea� P�operty. Trustor shall reimburse Lender �or all taxes, as described below, tog�th�r with a�l expenses
<br /> in�urred in recarding, perfec�ing or continuing this D�ed of Trust, in�luding without limitation all taxes, �ees,
<br /> dacumentary stamps, and other charges for recording ar registering this Deed of Trust.
<br /> Taxes. The �oi�owing shall cons�itu�e �axes �o which �his sec�ion applies: �'�y a specific tax up�n this type of
<br /> Deed ❑�Trust or upon all or any par� ❑f the Indebtedness secured by this ❑eed of Trust; {2y a specific tax an
<br /> Trusfivr which Trus�tor is authorized or required to deduct fram paymen�s on the �ndebtedness se�ured �y this type
<br /> af Deed of Trust; �3� a �ax ❑n this type of Deed of Trust�hargeable agains�the Lender or the holder o�the Note;
<br /> and �4� a specifi� �ax on al� or any portivn of the Indebtedness or on payments of prin�ipal and interest made by
<br /> Trus�or.
<br /> Suhs�quent Taxes. If any tax �o which �his section applies is ena�ted subsequent ta the da�e of this Deed of
<br /> Trust, this e�en� shall ha�e the same e��ect as an E�ent o� ❑e�ault, and Lend�r may exercise any or all �f rts
<br /> a�ailab�e remedies for an E�ent ❑f C]efauit as pro�id�d be�ow un€ess Trustor e�ther 41� pays the tax before it
<br /> hecames d�linquent, or t�y cant�s�s the tax as pr�vided abo�e in the Taxes and Li�ns s�ction and deposits wi�h
<br /> Lender�ash or a suf#icient corpora#e surety bond or other se�urity satisfactory t❑ Lender.
<br /> SE�URITY AGREEMENT; FiNANC[NG STATEMENTS. The follvwing pro�isions rela�ing to this D��d o� Trust as a
<br /> securi�y agreement are a part af this Deed of Trus�:
<br /> Se�ur��y Agreemen#. This instrument shall cons�i�u�e a Security Agreement to �he extent any o� th� Property
<br /> cansti�utes fixtures, and Lender shall ha�e all vf the rights of a secured par�y under the Uniform Comme�c�a� Code
<br /> as amended from time to t�me.
<br /> 5ecurity Interest, Upan r��u�st by Lende�, Trustor sha1� take whateW�r action is requested �y Lender t❑ perfe�t
<br /> and cont+nue Lender's security interest in the R�nts and Persana( Property. In additian to �ecording �his Deed of
<br /> Trust �n the real praper�y recvrds, Lender may, at any tim� and with�ut �urther authorizat�on from Trus�or, file
<br /> executed counterparts, copies or reproduc�ions of this Deed af Trust as a financing statemen�. Trus�vr shall
<br /> reimburse Lsnd�r for all expenses in�urred in perfec�ing or continuing this security interest. Upon d�fa#.�lt, Trus�or
<br /> shall nat remo�e, se�er or detach the Personal Property #r�m the Property. Upon default, Trustor shall assemhle
<br /> any Persanaf P�operty nofi a#fixed �o the Property in a manner and at a place reasonably con�enient to �rustor and
<br /> Lender and make it a�ailable ta Lender within three �3� days af�er receip� �f wri�ten demand frnm Lender ta the
<br /> extent permi�ted by app�icab�e law.
<br /> Addr�ss�s. The mailing addresses a� Trusto� {debtor3 and Lender tsecured party� #rvm which informati�n
<br /> concerning the se�urity �n�erest granted by this Deed o� Trust may be obta�ned {each as required by the Llniform
<br /> Commer��ai Code} are as s�ated on the firs�page of this Deed of Trust�
<br /> FURTHER ASSURANCES; ATT�RNEY-tN-FAGT. The fallawing pro�isions relating �o further assuranc�s and
<br /> attorney-in-fact are a part a�this ❑eed o�Trust:
<br /> Further Assuran�es, A�t any tim�, and from t�me �o �ime, upnn r�quest of Lender, Trustor will make, e�cecute and
<br /> d�li�er, o�will cause ta be made, executed or deli��r�d, to Lender or to Lender's designee, and when requested by
<br /> Lender, �ause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and in such offi�es
<br /> and places as Lender may deem appropriate, any and all su�h mort�ages, deeds vf trust, se�urity deeds, securi�y
<br /> agreements, financing statements, continuation statemen�s, ins�rumen�s af fur�her assurance, certifi�ates, and
<br /> ❑ther documents as may, �n the sole opin�on ❑f Lender, �e necessary or desirable in order�❑ effectuate, compiete,
<br /> per�ect, con�inue, or preser�e �1 j Trustor's ob��gat�ons unde� �he Note, this ❑eed af Trust, and th� Related
<br /> DQcuments, and ��� the liens and security �ntsr�sts created by th�s ❑eed a�Trust as first and prior li�ns on the
<br /> Pr�p�rty, rrvhether now owned or hereafter acquired by Trustor. Unless prohibit�d by law or Lender agrees to the
<br /> contrary in writing, Trusfior shall reimburse Lender for all c�sts and �xpenses incurr�d in �onnection with the
<br /> mat�ers referred to in this paragraph.
<br /> A�t�tarney-in-Fact. lf Trustor fai�s �o do any ��the th�ngs referred to in the preceding paragraph, Lender may da so
<br /> for and in �he name of Trustor and at Trustor's expense. For such purposes, Trusto� hereby irre�acably appoints
<br /> L�nder as Trustor's a��orney-in-fact far the purpose of making, executing, defi�ering, f���ng, r�cording, and dving aii
<br /> other things as may be necessary or desirable, in Lender's sole opini�n, to accompiish the matters referred to in
<br /> the preceding paragraph.
<br /> FULL PERFURMANCE. If Trustar pays all the Indebtedness, including wi�hou� limi�ation all future ad�ances, when due,
<br /> and vtherwis� performs a�� the ohligatians impased upon Trustor under this Deed of Trust, Lender sha�! ��€ecute and
<br /> d��i�er to Trus�ee a requ�st �ar �u�� recon�eyance and shall execute and deli�er t❑ Trus�or sui�abl� statem�nfis of
<br /> term�nation ofi any financing statement on ���e e�idencing Lender's security interest in fihe Rents and th� Persanal
<br /> Property. Any recon�eyan�e fee required by law shaff be paid by Trustor, i�permitted by app�icab�e law.
<br /> EVENTS �F DEFAULT. EaGh of the following, a� Lender's op�ion, shall consti�ute an E�ent of De�ault under this Deed
<br /> a�Trust:
<br /> Payment Defaul�. Trust�r fails to make any payment when due under the Inde�tedness.
<br /> �ther Defaults. Trustor fails �a comply with or t� perfarm any other t�rm, oh�igation, cv�enan� or �ondit�on
<br /> contained in this Deed of Trus� or in any of the Related ❑�cuments ar to compfy with or tv perform any t�rm,
<br /> abligation, co��nant or�ondition con�ained in any other agr�ement between Lender and Trustor.
<br /> Compiiance De#ault. Fai�ure to comply with any other term, ❑hligation, covenan� or condition contained in �his
<br /> De�d of Trust, �he Note or in any o�th� Re�ated ❑ocumen�s.
<br /> Defiault on �ther Payments. Fai�ure of Trustvr within the tim� required by this Deed af Trust to make any paymen�
<br /> for taxes or insurance, or any other payment n�cessary to pre�ent filing of or to effec�discharge of any lien.
<br /> ❑e�ault in Fa�ar o�Third Parties. Shouid Grantor defau�t under any Ioan, extensian af credit, security agreemen�,
<br /> purchase or sales agreement, or any ❑ther agreement, in fa�or of any other creditor ar person �hat may materially
<br /> af�ect any af Grantor's praperty or Grantar's ability to repay the Indebtedness ar Gran�or's a�i�ity to perform
<br /> Grantor's at�liga�ions under�his Deed o�Trust or any of the Related Documents.
<br /> Fa1se 5tatements. Any ►rvarranty, representation or statement made or furnished to Lender by Trustor o� on
<br /> Trus�or's ��hal� under this Deed of Trus� ar�he R�iated Dacuments is fa�se ❑r misieading in any ma�eriaf respect,
<br /> ei�her now or at the time made or furnished or beGomes false or misleading at any time thereafter.
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