201606113 - Laserfiche WebLink

Browse

2� 1 �� 113 : � aEE�a oF T�usT . . � �Cont�nued} Page 4 , ' Taxes. The fo��owing shalI consfitu�e taxes t❑ which this section app�ies: {'�} a speci�ic tax upon this type a� ` Deed o�Trus�ar upon all or any part of the Indebtedness secured by this Deed o�Trust; {2} a specz�c tax on � Trustor which Trustor is authori�ed or required to deduc�from payments on�he Indeb�edness secu�ed by�his type ` af Deed of Trus�; [3} a tax on this type of Deed vf Trust char�eahle against the Lender or the holder❑fi�he Gredit Ag�eement; and {4} a speci�iG tax on a�� or any portian vf the Indeb�edness or on paymen�s ❑� principal and in�erest made by T�ustar. � Subsequent Taxes. if any �ax t❑ which this sectao� applies is enacted subsequen� �o the date of this Deed ofi � Trust, this e�en� shaII ha�e the same ef-fect as an Event of �efaul�, and Lender may exercise any or aII o-F its � a�ailable remedies for an E��nt of De�au�t as pro�ided below unless Trustor either {'1} pays the tax b��ore i� ' becames delinquen�t, o� �2} �on�ests�he tax as pror�ided abo�e in the Taxes and Liens sectivn and depasits with ; Lender cash ar a suf�icient corpora�e surety bond oi-ather-security satisfactory to Lender. � SECURITY AGREEMENT; FINANC�NG STATEMENTS. The faiIawing pro�isions re�ating to this ❑eed o� Tt�ust as a � security agreement are a part of�his �eed o�Trust: � Se�ur�ty Agr�gment. This ins�trument sha11 constitute a Security Agreement to the exten� any of the Property � �ons�itutes fixtures, and Lender shall have ali of the rights af a secured party under the Uniform Cvmmercial �ode � as amended from t�me t❑time. � Securrty �nterest. Upon request by Lender, Trus�tor shaI� take whate�er action is requested by Lender to perfect � and �ontinue Lender-'s security interest in the Personal Property. In addition to recording this Deed of Trust in the rea! praperty �ecords, Lender may, at any �ime and without further authorization fram Trustor� �ile executed counterpartsr copies or reproductions ❑f �his Deed of Trus� as a financing statemen�. Trustar shall reimburse � Lender for al� expenses incurred in perfec�ing or continuing this security interest, Upon defauI�, Trustor shaff na� � ` remv�e, se�er or detach the Personal Pr�perty from the Property. Upon defauI�, Trustor shall assembie any � Personal Property nvt affixed to the Property in a manner and at a place reasonabIy can�enien� ta T�ustor and � Lender and make it a�ailable �❑ Lender within three {3� days after receipt o� written demand �From Lender to �he � extent permitted by appficab�e �aw. � - Addresses. The mailing addresses of T�ustor �d�btnr� and Lender tsecured party� frvm which infarma�ion ' cancerning �h� secur�ty inte�est granted by this ❑eed of Trust may b� obtained �each as required by the Uni�orm � Commercia� Code� are as stated on the tirst page of this Deed of T�-us�. ; FURTHER ASSURANCES� ATT�RNEY--IN-FACT. The following pro�isions relating to further assurances and � attvrney-in-fact are a part of this Deed of Trust: ' Further Assurancas. At any t�me, and �From �ime to time� upon request of Lenderr Trustor will make� e�tecute and � deIi'ver, ar wil� cause t❑ be made, execu�ed or deliveredi to Lender or to L�nd�r's designee, and when �equested by � Lender, cause ta be fil�d, recorded, retiled, a� rerecnrded, as�he case may bet at such tim�s and in such ❑ffices � and p�aces as Lender may deem apprvpriate, any and a�i such mvrtgages� deeds o�trus�, secur��r deeds, se�ur�ity � agreements, �inancing sta�ements, continua�ion statements, inst�uments o� further assurance, certi�i�ates, and other documents as may, in the �o�e opinion of Lender, be necessary or desirable in ❑rder ta effe�tuate, complete, � perfect, continue, or prese�e {�} Trustot's obligations under the C�edit Agreement,this Deed of Trus�, and the ReIated Documehts, and {2� the liens and security �n�erests created by �his Deed of Tr.ust on �he Property, whether naw owned or he�eafter acquired by Trustor. Un�ess prohibited by law❑r Lender agrees�o�he contrary in wri�ing, Trustor shali reimburse Lender for alI �os�s and expenses incurr-ed in cnnnection wi�h�he matter-s re�err�d t❑ in this paragraph, , Attorney-in-Fact. [f Trustor faFls to do any o�the things referred to in the p�e�eding paragraph, Lender may do so � for and in the name ❑�Trus�or and at Trustor's expense. For such purposes,Trustvr hereby ir'�e�ocably appoints ' Lender as Trustor's attorney-in-fact�or the purpose of making, executing, deIivering,filing, recot-ding, and doing all �k i other things as may be nec�ssary or desirable, in Lende�'s sole ❑pinion, to accomplish �he ma�ters re�erred ta in � the preceding paragraph. iFl]LL PERFnRMANGE. r�Trustor pays all the indebtedness when due,�erminates the c�edit line account, and othe�wise � performs aII the ❑bligations impased upan Trustar under this Deed of Trus�, Lender sha!! execute and deIiver to Truste� ; a request for fu!! recon�eyanc� and shalf execute and deIi�er to Trustor su�ta�Ie statements of termination of any financing statement on file e�idencing Lender's security interes� in the Rents and the PersonaI Praperty. Any recon�eyance tee required by law shall be paid by Trustorr i�permitted hy applicab{e Caw. EVE�VTS aF DEFAULT. T�rus�or w�!! be in de�ault unde�this �eed ❑�Trust if any of the falIow�ng happen; �A} Trusta� commits �raud ❑r makes a material misrepresentation at any time in connec�ion with the Credit Agreement. This �an in�Iude. for example, a false statement about Trustor's income, assets, �iabiiities� or any other asp�cts of Trus�or's financial condition. tB} Trustor does not mee�the repayment terms of the Credit Agreement. (C} Trustor's action or� inaction ad�ersely affects the coiiateral ❑r Lender's rights in the Golia�eraI. This can include, for examp�e, failure �o main�ain r�quired insurance, waste or destruc�ive use�f�he dwelling��ailure to pay taxes, death ❑f alI persons Iiabfe ❑n �he account, transfe� o�F �itle or sale of the dwelling, creation ❑� a senior xien on the dwelling without Lender's permissivnr foreclosu�e by the hvlde�ofi another lien� or�he use of funds or the dwe!ling�Far prohibzted purpases. � RlGHTS AND REMEDIES ❑N DEFAULT. it an E�ent af Defa�rtt accurs under this Deed of Trustr at any time�he�eafter, � Tru�tee vr Lender may exercise any one or mo�-e of the�allawing rights and �emedies: ; AGceleration Upon DefauIt;Additivnal Remedias, If any Event of De#ault occu�rs as per the terms ❑�the Credit � Agreement secured hereby, Lender may declare all Indeb�edness secur-ed by this Deed v�Trus�to be due and ; payabfe and�he same shall�hereupon become due and payable wi�hou�any presentmen�, demandx pro�est or notice of any kind. Thereafiter, Lender may. � {aj Either in person o� by agent, with or withaut b�-inging any activn or p�viceeding, vr� by a,recei�er � appointed by a court and without regard to�he adequa�y of its security, enter upon and take possession ` of the Prvpe.rty, ❑r any part the�eaf, in its own name or in the name o�Trustee, and do any ac�s which i� deems necessary vr desirable to p�eserve the �alue, marketability or rentability o�the Prc�pertyr or part of � the P�-aperty or in�erest in the Prope�ty; increase the incame from �he Property or protec�th� security o� ; the Prvperty; and� wifh or wxthout taking possession o� �he Property, sue for or o�herwise collec� �he ; rents, issues and pr�fits af the Property, including those past due and unpaid, and aQply the same, iess ; costs and expenses o�aperation and co�je�tion attorneys'�ees,to any xndebtedness secured by this ❑eed of Trus�� aI� in such order as Lender may determine. The entering upon and �aking passessian of the � Property, the colIectian ❑f such rents, issues and profits, and the appIication �hereof shall na� cure ❑�- , vva��e any default or nvtice ❑�default under this ❑eed a�Trust or-in�alidate any act done in response�o � such default or pursuant to such notfce of defaultr and, notwithstanding the cantinuance in possession af � the Prope�y or the callection, receipt and application of rents, �ssues ar pt'atrts, Trus�ee or Lender shall be entitled �o exercise e�ery right pro�ided fo�in�he Credit Agreement or the ReIated ❑o�uments or by 1aw upon the occurrence of any e�ent❑�detault, including�he r'ight ta exercise the power vf sale; {b) Commence an action to foreclvse this De�d o�T�ust as a mairtgage. appoint a re�ei�er❑r-speci�ically enforce any af�he co�enan�s hereo�; and �c} Deli�er ta Trustee a writ#en declaration of de�auI�and demand for s��e and a written nofice a�defauit , � ; . - - . .