|
2� 1 ��� 1 �9
<br /> DEED DF TRUST
<br /> �Continued� Page 4
<br /> participation.
<br /> Appli�atian of Na#Proceeds. If all or any part of the Property is condemned by emin�nt dvmain p�oceedings or hy
<br /> any proceeding vr purchase in iieu af condemnation, L�nder may a#its election requir�that al1 or any portion of the
<br /> net pro�eeds of the �ward be ap�lied to the Indehtedness or the repair ar restoration of the Prvperty. The net
<br /> proce�ds o#the award sha�l mean the award a�Fter payment a�a�� reasonabfe �asts, ex�enses, and attvrneys' fe�s
<br /> �n�urred by Trustee or Lender in connection with�he�ondemnation. �
<br /> IMP�SITI�N �F TAXES, FEES AN�3 CHARGES BY G�VERNMENTAL AUTH�RITIES. The following pro�isians relating
<br /> t�go�ernmental taxes, #ees and charges are a part of this❑�ed of Trus#:
<br /> �urrent Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addit+on to
<br /> this �eed of Trust and take whate�er other actinn is requested by Lender to per�ect and �ontinu� Lender's lien on
<br /> the Real Praperty. Trustar shall reimburs� Lender for all taxes, as described helow, t�gether with all expenses
<br /> incurred in record�ng, perfecting or �ontinuing this ❑eed of Trust, in�iud+ng withvut limitat+vn all taxes, fees,
<br /> documentary stamps, and other�ha�ges for recording or registering th�s Deed of Trust.
<br /> Taxes. The following shall constitute taxes to wh�ch this section applies: �1� a specific tax upon this type of
<br /> Deed o#Trust vr upon all vr any par# of the Indebtedness secured by this Deed ofi Trust; ��� a specific tax on
<br /> Trustor which Trustor is authvrized or required to deduct from paymen#s on the Indebtedness secured by this typ�
<br /> of Deed of Trust; �3f a tax an this type vf D��d of Trust �hargeable against the Lende�ar the hvlder v�the Note;
<br /> an� �4y a sp�cific tax on all or any portion ❑f the Indebtedness ar on payments vf principal and interest made by
<br /> Trus#or.
<br /> Subsequent Taxes. 1f any tax to which this section applies is enacted su#�sequent ta the date ❑f this aeed of
<br /> Trust, this e�ent shall ha�e the same effect as an E�ent of Defau�t. and Lender may exercise any or all nf its
<br /> a�ailable remedies for an E��nt vf Default as pro�ided helaw uniess Trustvr sither t�y pays the tax before i�
<br /> b�comes delinquent� vr ��f contests the tax as pro�ided abo�e �n the Taxes and Liens sectian and deposits with
<br /> Lende�'cash vr a sufficient corporate surety bond or other security satisfa�tory to Lender.
<br /> SE�URITY AGREEMEIVT; FINANCING STATEMENTS. The following pro�isivns relating to this aeed af Trust as a
<br /> security agreement are a part of this Deed of Trust:
<br /> Security Agreement. This instrum�nt shall cvnstitute a Security Agreement �o the extent any of the Propsrty
<br /> canstitut�s fixtures, and Lender shali ha►►e all of the rights af a secured party under the Uniform Commercial Code
<br /> as amended from time#o time.
<br /> 5e�urity In#erest. Upon request by Lender, Trustor shall take whate�er action is requested by Lender #o perfe�t
<br /> and continue Lender's security interest in the Rsnts and Persanal Praperty. in additivn to re�arding this Deed of
<br /> Trust 'rn the r�al prop�rty records, Lender may, at any tim� and w�thout further authoriza#ion fram Trustvr. file
<br /> executed counterparts� capies or reprvductians of this aeed of Trust as a financing staterrient. Trus#or shall
<br /> reimhurse Lender for all expenses incurred #n perfecting o�continuing this security interest. Upan defaul�. Trustor
<br /> sha!! not remv�e, se�er ar de�ach the Personal Property frvm the Prvperty. Llpvn default, Trustvr sh�l� assemble
<br /> any Personal Property not affix�d to the Prvperty in a manner and at a place reasanably cvn�enient to Trustor and
<br /> L�nder and mak� �t a�ailable to Lender with�n three �3y days a#te� receipt v# written demand from Lender t� the
<br /> extent permitted by appl+�ahle law.
<br /> Addresses. Th� ma�iling addresses af Trustor {debtory and Lend�r {secured partyf frvm which in#ormativn
<br /> �oncerning the security int�rest granted hy this Deed vf Trust may be ❑btained �each as required by the Unift�rm .
<br /> �vmmercial Codef are as stated on the first page vf this Deed of Trust.
<br /> FURTHER ASSURANCES: ATT�RNEY-�N-FACT. The fvllvwing pra�isions relating to fur#her assurances and
<br /> atto�ney-in-fact are a part af this Deed of Trust:
<br /> Further Assurances. At any time, and from time tv time, upvn request of Lender, Trustor will make, execute and
<br /> deli�er,or w�ii cause tv be made,�xecuteti�r deli�ered,tv Lender or to Lender's designee, and when requested by
<br /> Lender, cause to be fil�d, recvrded; refiled, o� rerecvrded, as the case may be, at such times and in such oif�ces
<br /> and places as Lender may deem apprvpriate, eny and all such mortgages, deeds of trust, security deeds, se�urity
<br /> agreements. finan�ing statements, �ontinuation statements, instruments of further assurance� certi#icates, and
<br /> ather documents es may, in the sole opinion�f Lender, be ne�essary ❑r desirable in�rder t�e�fectuate, complete,
<br /> perfect, continue, �r preser�e �1� Trustar's ❑bligations under the Note. this Deed a# Tfust, and the Related
<br /> Documents� �nd ��y the liens and se�urity �nterests c�eated by this Deed vf Trust as first and prior liens an the
<br /> Praperty, whether now owned or her�a�ter acquired by Trustor. Unless prohihited by law or Lender agre�s to the
<br /> contrary in writing, Trustor shall reimburs� Lender for all costs and expenses incurred in �onnection with the
<br /> met#ers referred#o in this paragraph.
<br /> Attarney-in-F�ct. If Trustor fai�s ta do any of the things referred tv in#he preceding parag�aph, Lender may d❑ so
<br /> for and in th� name of Trustor and at Trustor's expense. Fvr such purposes, Trustor hereby irre�vcably appoints
<br /> Lender as Trustor's attorney-in-fact for the purpose of making, executing, deli�ering, filing, recording, and doing all
<br /> other �hings as may be necessary vr d�sirable, in Lender's sale opinion, tv acc�mplish the matters referred to in
<br /> the preceding paragraph.
<br /> FULL PERF�RMANCE. If Trustor pays all thQ Indebtedness, including without limitation al�future ad�ances, when due,
<br /> end �#herwise perf��ms e�l the obligations imposed upon Trustvr under this Deed of Trust, Lender shall execute and
<br /> dgfi�er to Trustee a request for full recon�eyance and shail execute and de�i��r to Trustvr sui�able sta�ements o#
<br /> terminatian of any financing statement ❑n ��le e�id�ncing Lender's security interest in the Rents and the Personal
<br /> Property. Any recan►►eyance fee required by 1aw shail be paEd by Trustor, if permi#ted by appli�ahle law.
<br /> EVENTS �F DEFAULT. Each oi th� follvwing, at Lender's ❑pt+on, shall constitute an E�ent of De�ault under this Deed
<br /> of Trust:
<br /> Paymant�efau�t. Trustvr fails to make any payment whgn due under the Indehtedness.
<br /> �thgr aef�uits. Trustor fails �o camply with or ta perform any other term, obligation, ca�enant vr candi�ion
<br /> contained in this ❑eed of Trust or in any a# the Relat�d Documents or to �vmply with or to perfarm any term,
<br /> obi�gation, co�enant or candition�antained in any other agreement between Lender and Trustor.
<br /> Compliance �afault. Failur� tv comply with any other term, obligation, co�enant or condition contained in #his
<br /> Deed vf Trust�ths Nvte or in eny of the Related Dvcuments.
<br /> Default an Dthe�Payments. Failure of Trusto�within the time requ+red by this ❑eed af Trust to make any payment
<br /> for taxes or insuran�e, or any other payment necessary tv pr��ent filing of ar tv effect d'+scha�ge of any lien.
<br /> aafauft in F��vr vf Third Pertias. Should Gr�ntor default under any Ivan, extension of cred�t, securi#y agreem�nt,
<br /> purchase ❑r sales agreement, vr eny �ther agr��ment� in fe�or of any vther cr�ditvr or person that may materially
<br /> af�ect any of Grentvr's prvperty vr Grantor`s ability t❑ repay the Indebtedn�ss or Grantor's ahility to perform
<br /> G�rantvr's vbligations under this Deed vf T�ust or any of the Related Do�uments.
<br /> Fa�e Statsments. Any warranty, representatian or statement made ar furnished to Lender by Trustvr or on
<br /> Trustvr's beha�#under this Deed of Trust or the Related Documents is false or misleading in any material respect,
<br /> eithgr naw or at#he tEme made or furnished❑r becomes faise or misleading at any time thereafter.
<br />
|