|
2� 1 ��5154
<br /> �EE� C]F T'RUST'
<br /> ��ontMnu�d} Page 5
<br /> �ncurred in reco�ding, perfecting or �antinuing this Deed a� Trust, in�{uding withou� limitation all �axes, fees,
<br /> documen�ary s�amps, and o�her charges for recording or registering th�s Deed�f Trust.
<br /> Taxes. The following shal� cons�i�ute �axes to whi�h �his section appfies: �1} a specifi� tax upon this type of
<br /> Deed ❑�Trust or upon a�f ar any par� o��he Indebtedness secu�ed by this Deed of Trust; ��} a speci��c �ax on
<br /> Trustor which Trustor is au�horized or required to deduc�f�om payments an the [ndebtedness secured by this type
<br /> of Deed of Trus�; �3} a�ax on this type of Deed of Trus�chargeable aga�ns��he Lend�r or the holder of#he Credi�
<br /> Agreement; and �4} a specific tax on al� or any por�ion of the fndebtedness or ❑n payments o� principa� and
<br /> interest made hy Trustor.
<br /> Suhsequen� Taxes. 1� any tax to �vhi�h fhis se�tion app�ies is enacted subse�uent �❑ the date of �his Deed af
<br /> Trust, this event shalf have the same ef��ct as an Event of Defau�t, and Lender may exercise any or a�l af its
<br /> a�aila�le rem�dies for an Event of Defaul� as pro�ided befow unless Trusto� either ��} p�ys the tax befa�e ifi
<br /> becomes delinquen�, or ��) cont�s�s the�ax as pravided above in the Taxes and �iens sectian and depos�ts wifh
<br /> Lender cash or a su�f�cien�corp�ra�e sure�y bond or other securi�y satisfactory to Lender,
<br /> SECURITY AGREEMENT; F[NANCING STATEMENTS. Th� faffow�ng pro�isions re�a��ng �a this Deed of Trus� as a
<br /> secu rity ag reement are a pa rt of�h is Deed of Trus�:
<br /> Security Agreement. This instrument sha11 canstitute a Securi�y Agreement �o �he extent any of the Property
<br /> constitutes fixtures, and Lender shall have al1 of th� rights o�a secured party under the Uniform Commercia! Cvde
<br /> as amended�rom time to t�me.
<br /> Security In�erest, Upon request by Lender, Trustar sha�l �ake whate�er action is requested by Lender�a perfec�
<br /> and continue Lender's security in�eres� in the Personal Property. In addi�ion to recording this Deed o�Trust in the
<br /> rea! pro�e�ty records, Lender may, a� any �ime and wi�hau� further auth�rizatian f�om Trustor, �tle exe�u�ed
<br /> counterpa�s, capies o� repraductiar�s o� this Deed of Trus� as a financing statement. Trustor sha�l reimburse
<br /> Lender for a�l expenses incurred in perfe��ing or continuing this security interest. �pon default, Trus�ar shafl nat
<br /> remo�e, se�er a� d��a�h the Personal Property �rom �he Prop��ty. L1pon default, T�us�or shall assemble any
<br /> Personaf P�operty na� affixed to �h� Property in a manner and at a place reasonabfy canvenient to Trus�or and
<br /> Lender and make i� availabfe to Lender wifhin three �3} days afte� receip� o'�written demand fram �ender�o the
<br /> extent permitted by app�icable law.
<br /> Addresses, The mai[ing addresses o� Trustar �deb�or} and Lender �secured par�y} �rom which informat�on
<br /> concerning the security interest�ran#ed by this Deed of Trus� may be obtained �ea�h as requi�ed by �he Uniform
<br />_ �ommer�ial Gode}are as stated on�he fi�st pag�o��his Deed o�Trust.
<br /> F�RTHER ASSURANCES; ATT�F���Y-IN�FAGT. The fol�awing prav�sions relating to fur�her assuran�es and
<br /> attorney-in-fa�t are a part of this Deed of Trust:
<br /> Fur�her Assuran��s. Af any time, and�rom #ime to �ime, upon reques� o�Lender, Trus�or will make, execute and
<br /> deliWe�, or wiff �ause�o be made,executed or de�ivered,to Lender or t❑ Lende�'s d�signee, and when requested by
<br /> Lender, cause to be#iied, recorded, refiled, or re�ecorded, as �he case may be, a� such �imes and in such �ffices
<br /> and places as Lender may deem apprapria�e, any and al� such mortgages, deeds of trust, se�urity deeds, secur�ty
<br /> agreements, financing s�atements, �on�inuatian stafements, �nstruments of �ur�her assurance, cer#�ficates, and
<br /> other documen�s as may, in �he sflle opinion of Lender, �e necessary or desirable in �rd�r�o effectua�e, compfete,
<br /> perfect, continue, or preserve ��} Trus�ar's abl�gations under the Cr�dit Agreement, this ❑eed of Trust, and �he
<br /> Related []ocuments, and ��� the iiens and se�urity interes�s created by �his Deed o� Trust an the Praperty,
<br /> whether now owned or hereaf�er acquired by Trus�or. Unless prohibit�d by law or Lender agrees to�h��antrary in
<br /> wri�ing, Trust�r sha�l reimburse Lender�ar all costs and expenses incurred in connectivn wi�h the mat��rs re�e�red
<br /> to in fhis paragraph.
<br /> Attarney-�inMFact. If Trustar fails to do any o�the�h�ngs re�erred tfl in �he preceding pa�agraph, Lender may do so
<br /> �For and in the name af Trustor and at Trustor's expense. For such pu�poses, Trustar hereby irrevocably appoints
<br /> Lender as Trustor`s attorney�in-fact�or the purpose of making, executing, del�Wering, fling, reco�ding, and dfling al1
<br /> other things as may be necessary ar desirab�e, in Lender's sole opin�on, t� aceomplish �he ma��ers referred �o in
<br /> �he preceding paragraph.
<br /> F�LL PERFOR�ANCE. If Trus�or pays afl the Indeb#edness when due, terminates the cr�dit�ine a�coun�, and o�herwise
<br /> per�orms afl the �bfigat�ons imposed upon Trustor under this Deed o�Trus�, Lender sha[I execu#e and d�li�er ta Trustee
<br /> a r�quest for fu[1 recon��yance and shall execute and deliver to Trustor suitabfe sta�ements o� termination o� any
<br /> financing statement on tile evidencing Lender's security interes� in the Rents and the Persona� Prope�y. Any
<br /> rec�n�eyance fee required by law shal! be paid�y Trustor, i�permitted by applicabfe law.
<br /> EVENTS �F ❑EFA�LT. Trustor will be in default under this Deed of Trust if any of�he fol�owing happen: �A} Trustor
<br /> cammits f�aud or makes a mate�ial misrepresentation at any time in cannec�ion with the Credi�Agreement. Th�s can
<br /> include, for example, a fa�se statemen� ah�ut Trustor's �ncome, assets, lia�i�i��es, or any othe� aspects af T�ustor's
<br /> financia� conditian. �B} Trus�ar does not meet the repayment terms a�the Credit Agreemen�. (C} Trustor's ac�ian or
<br /> inacti�n ad�e�se�y affects �he co�lateral Qr Lende�'s righ#s in the colla�eral. Th�s can �nclude, for example, fai�ure t�
<br /> maintain required insurance,was�e or destructi�e use of the dwell�ng, fai�ure to pay�axes, death af al[ p�rsons liable an
<br /> the accaunt, transfer a� �i�le or sal� ❑� �he dwe�ling, creation of a senio� lien on the dwe�ling w�thout Lender's
<br /> permission,foreclosu�e by�he ho�der❑f ano�her�[ien, or�he use of funds or the dwelling far prohib��ed purpases.
<br />
|