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7497.CV (11/15)
<br />201605562
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a
<br />promissory note or credit agreement dated August 22, 2016 , and any and all modifications,
<br />extensions and renewals thereof or thereto and any and all future advances and readvances to Borrower (or
<br />any of them if more than one) pursuant to one or more promissory notes or credit agreements (herein called
<br />"Note "); (b) the payment of other sums advanced by Lender to protect the security of the Note; (c) the
<br />performance of all covenants and agreements of Trustor set forth herein; and (d) all present and future
<br />indebtedness and obligations of Borrower (or any of them if more than one) to Lender whether direct,
<br />indirect, absolute or contingent and whether arising by note, guaranty, overdraft or otherwise; provided,
<br />however, that the total principal amount secured by this Deed of Trust at any one time shall not exceed
<br />$ 270,000.00 . This limitation of amount does not include interest and sums advanced to protect the
<br />security of this Deed of Trust. The Note, this Deed of Trust and any and all other documents that secure the
<br />Note or otherwise executed in connection therewith, including without limitation guarantees, security
<br />agreements and assignments of leases and rents, shall be referred to herein as the "Loan Instruments ".
<br />Trustor covenants and agrees with Lender as follows:
<br />1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property,
<br />and warrants that the lien created hereby is a first and prior lien on the Property, except for liens and
<br />encumbrances set forth by Trustor in writing and delivered to Lender before execution of this Deed of Trust,
<br />and the execution and delivery of this Deed of Trust does not violate any contract or other obligation to
<br />which Trustor is subject.
<br />3. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other
<br />charges against the Property now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage by fire, hazards included within the
<br />term "extended coverage ", and such other hazards as Lender may require, in amounts and with companies
<br />acceptable to Lender, naming Lender as an additional named insured, with loss payable to the Lender. In case
<br />of loss under such policies, the Lender is authorized to adjust, collect and compromise, all claims thereunder
<br />and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness secured
<br />hereby and in such order as Lender may determine, (ii) to the Trustor to be used for the repair or restoration
<br />of the Property or (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this
<br />Deed of Trust for the full amount secured hereby before such payment ever took place. Any application of
<br />proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or cure
<br />any default thereunder or hereunder.
<br />5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender, in such manner as
<br />Lender may designate, sufficient sums to enable Lender to pay as they become due one or more of the
<br />following; (i) all taxes, assessments and other charges against the Property, (ii) the premiums on the property
<br />insurance required hereunder, and (iii) the premiums on any mortgage insurance required by Lender.
<br />6. Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good
<br />condition and repair; shall promptly repair, or replace any improvement which may be damaged or
<br />destroyed; shall not commit or permit any waste or deterioration of the Property; shall not remove, demolish
<br />or substantially alter any of the improvements on the Property; shall not commit, suffer or permit any act to
<br />be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and promptly
<br />discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed
<br />against the Property or any part thereof.
<br />7. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other
<br />payments or relief (hereinafter "Proceeds ") in connection with condemnation or other taking of the Property
<br />or part thereof, or for conveyance in lieu of condemnation. Lender shall be entitled at its option to
<br />commence, appear in and prosecute in its own name any action or proceedings, and shall also be entitled to
<br />make any compromise or settlement in connection with such taking or damage. In the event any portion of
<br />the Property is so taken or damaged, Lender shall have the option, in its sole and absolute discretion, to apply
<br />all such Proceeds, after deducting therefrom all costs and expenses incurred by it in connection with such
<br />Proceeds, upon any indebtedness secured hereby and in such order as Lender may determine, or to apply all
<br />such Proceeds, after such deductions, to the restoration of the Property upon such conditions as Lender may
<br />determine. Any application of Proceeds to indebtedness shall not extend or postpone the due date of any
<br />payments under the Note, or cure any default thereunder or hereunder. Any unapplied funds shall be paid to
<br />Trustor.
<br />8. Performance by Lender. Upon the occurrence of an Event of Default hereunder, or if any act
<br />is taken or legal proceeding commenced which materially affects Lender's interest in the Property, Lender
<br />may in its own discretion, but without obligation to do so, and without notice to or demand upon Trustor and
<br />without releasing Trustor from any obligation, do any act which Trustor has agreed but fails to do and may
<br />also do any other act it deems necessary to protect the security hereof. Trustor shall, immediately upon
<br />demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in
<br />connection with the exercise by Lender of the foregoing rights, together with interest thereon at the default
<br />rate provided in the Note, which shall be added to the indebtedness secured hereby. Lender shall not incur
<br />any liability because of anything it may do or omit to do hereunder.
<br />9. Hazardous Materials. Trustor shall keep the Property in compliance with all applicable laws,
<br />ordinances and regulations relating to industrial hygiene or environmental protection (collectively referred to
<br />herein as "Environmental Laws "). Trustor shall keep the Property free from all substances deemed to be
<br />hazardous or toxic under any Environmental Laws (collectively referred to herein as "Hazardous Materials ").
<br />Trustor hereby warrants and represents to Lender that there are no Hazardous Materials on or under the
<br />Property. Trustor hereby agrees to indemnify and hold harmless Lender, its directors, officers, employees and
<br />Page 2 of 5 GOTO(00475f9b)
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