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2� 1 ���344
<br /> DEED DF TRU�T
<br /> . ��vnt[�1u�C�} Pag� 4
<br />,
<br /> Taxes. The fall�wing shall cnnstitu�e taxes to whi�h this sectzon appj�es: �'1} a specific tax upvn �hzs t�ype o#
<br /> ❑eed of Trust ❑� upon a!I or any part of the lndebtedn�ss secured by�his Deed af Trust; {�� a specifia �ax on
<br /> Trustor which Trus�vr is a�r�harized or requi�ed to deduct�r-am�payments on th� lndebtedness secured by this type
<br /> of❑eed o�Trus�; (3� a�ax on this typ�❑f Deed a�F Trust�hargeable agains�the Lender or the holde�-o�the Credit
<br /> Agreemen�; and �4� a speci�ic tax ❑n a�i or any portion o� the Indebtedness or ❑n payments af principal and
<br /> interes�made by Trus�ar�
<br /> Subsequent Taxes. lfi any tax to which �his sec��nn applies ;s enacted subs�quent to �he da�e �f�his Deed ❑t
<br /> Trust, this event shaII have the same effect as an E�ent o� ❑e�ault, �nd Lsnder may exercise any ❑r aII of i�s
<br /> a�ai�abfe rem�dzes for an E�en� ot Default as pra�ided belaw t�n[ess Trustor ei�her �1} pays �he �ax be�ore it
<br /> becomes deiinquent, vr �2� contests the tax as provided aba�e in the Taxes and Liens sec�ion and deposi�s wi�h
<br />. Lender cash or a sufficient corporate sur�ty bond or othe�security satistactary t❑ Lende�.
<br /> SECURCTY AGREEMENT; F[NANC�NG STATFII�FNTS. The taClaw"rng prorris�ons rela�ing t❑ this Deed ❑f Trus� as a
<br /> se�uri�y ag�eemen�are a part ofi this Deed of Trust:
<br /> Sec�rity Agreement. This �nstrument shaii const"rtute a 5ecurity Agreement to the extent any o� the Praperty '
<br /> cohs�itu�es tixtures, and Lender shall ha�� aII of the rights o-F a se�ured party unde�the Uni�orm Commercial Code
<br /> as amended from time to�ime,
<br /> Sec�trrty Enterest. Upon request by Lenderr Trustar sha�[ take whate�er action is reques�ed by Lender�o perfec�
<br /> and continue L�nder=s security in�erest in the PersonaI Proper�y. [n addi�Cion to recording�hi� Deed of Trust in the
<br /> real property recards* Lender may, a� any time and withou� further au�horization �rom Trustor-, �File exe�u�ed
<br /> caunterpartsr copies o�r �eproducfiions of this Deed ❑f Trust as a financing sta�em�n�. Trustor shalf reimburse
<br /> Lender for aji expens�s incur�ed in per�ecting or con#�nuing th�s security interest. Upon defaul�, Tr�ustor shaIl no�
<br /> remove� se�er or detach �he Pe�sanaI Propert,y �rom the Property. Upon default, Trus�ar shall a�sembI� any
<br /> � PersonaI Praperty not af�ixed �a the Praperty in a manner and a� a pla�e reasanably canvenient �v Trus�ar and
<br /> Lend�r and make it a�aiIable �o Lender wi�hin three �3} days after- receipt of writ�en demand from Lender to the
<br /> ex�ent permitred by appIicable Iaw.
<br /> Addresses. The mai�ing addresses ❑f Tru�tor �de��ar} and Lende� tse�ured party� from which in�vrma�ion
<br /> concerning the securi�y interest granted by this ❑eed o�Trust may be ❑btained {each as required by�he Uni�arm
<br /> Commercial Code� are as stated on the first page o�F this Deed ❑�F Trust.
<br /> FURTHER AS�llRANCES; ATTORNEY-�N-FACT. The �F�Ilowing pro�isions relating t❑ further assurances and
<br /> at�arney-in-�act are a part ofi this Deed af Trust:
<br /> Furth�r Assurances. At any time, and from �ime to�ime, upan reques�o� Lender,Trustor wi�i make, execu�e and
<br /> deli�er, or wiIl cause to be m�de, ex�cuted or deliverec�,to Lender ar to Lender`s designee, and when �equested by
<br /> Lender, cause to be filed, recarded, re�i[ed, or �'�:recorded, as �he case may I�e, a�suGh �imes and in such of-Fices
<br /> and places as Lender may deem appropria�e, any and aIl su�h mvrtgages, deeds of trust, secur-ity deeds, security
<br /> agreemen�s� financing S���L171L'��5r continuation s�atementsr instruments of further assurancer cerCifica�es, and
<br /> ❑ther documen�s as may, in the saIe opini�n o�F Lender� b� necessary o�desirable in order to effectuate, completer
<br /> perfect, cantinue, or presen�e ��� Trustor's obligatians under the C�-edit Agreemen�, this Deed a�Trust, and the
<br /> Rela�ed Documents� and {�� the liens and security interests created by thzs Deed of Trust on the Proper�y,
<br /> . wheth�r now owned or hereafter acquired by Trustor. Un�ess prohibited by law or Lender agre�s to�he cvntrary in
<br /> writingr Trustor shall reimburse Lender fo�all aosts and expenses incurred in cnnn�c�ion with�he matkers re�crred
<br /> �❑ in�his paragraph. .
<br /> Attvrney-in-Fa�t. Ifi Tru�tar tails ta do any at the things r�ferred t❑ in�he p�eceding paragraph� Lender may do so
<br /> � f�r and in �he name of Trustor and at Trustor's expense. Fot-such purposes, Trus�vr hereby irrevocab�y appoints
<br /> Lender as Trustor's at�orney-in-fact for�he purpvse ofi making, executing, delivering■fiIing, rec�rding, and doing all
<br /> oth�r�things as may be necessary ❑r desirab�e, in L�nder's so[e ❑pinion, to accomplish �he matters referred �� in
<br /> �he preceding paragraph. �
<br /> FULL PERF�RMANCE. 1f Trustor pays aii�he Indebtedness when due,terminates the credit[ine aaaoun�, and otherwise
<br /> performs a��the vbIigations impvsed upon Trusto�-under�his Deed o�Trus�, Lender shaIl execute and deliver to Trus�ee
<br /> a request �o� fuI1 re�onrreyance and shalI execu�e and del��er �o Trustvr suitable statements o� �e�minatian of any
<br /> financing s�atement on file evidencing Lende�Ts security inte�est iri the Rents and the Personal Pr�perty. Any
<br /> t-econ�eyance fee required by�aw shall be paid by T�'ustor, if permitted by appIicable law.
<br /> EVEh�TS ❑F DEFAULT. Tr'ustor will be in de��uIt under this Deed a�Trust if any o�the fo2lawing happen: {A} Trus�or
<br /> cvmmits fraud or makes a ma�erial misrepresentation at any time in connectxon wi�h the Credi� Agreemen�. This can
<br /> �ncIude, for example, a fialse s�a�ement about Tru�torfs inc�me, assets, liabiIiti��, or any oth�r aspects vf Trustor=s .
<br /> f�nan�ial condition. �B} Trustor does no�meet the repayment terms o�the Credi�A�reement. �C} Trustvr's ac�ion or
<br /> inaction ad�erseIy affects the colIateral ❑r Lender's rights in the coIlateral. This can includ�, �or example, �aiiure to
<br /> main�ain required insu�-an�e� wast�or dest�-ucti�e use a�the dwe�Cing,failure to pay�a�es, �ea�h of afl persons fiable❑n
<br /> the ac�ount, tran��er o� title or sale ❑f the dwelIing, creation o�F a senior fien on the dwelfing without Lender's
<br /> permissian,�orecIosure by the halder❑f another lien� or the use❑-F funds ar the dweIling�For prohibi�ed purpases.
<br /> RIGHTS AND REMED�ES aN DEFAULT. If an E�ent o�F Defau�t occurs under this ❑eed ❑f Trus�, at any time�hereafter,
<br /> Trustee or Lender may exercise any❑ne or�more o��he�oll�w'rng rig�ts and remedies: '
<br /> - Acceierativn Upon Defauit�Addi�ionaf Ramedies. lf any E�ent o�De�ault occu�s�s per the te�ms of the Credit
<br /> Agreemen�secured hereby, Lender�may dec�are all I ndebtedness secured by�h�s Deed ❑f Trus�to be due and
<br /> payable and�he same shaII�hereupon becvme due and payable w"r�hou�any presentment� demand, protes�or
<br /> no�ice o�F any kind. Thereafterr Lender may:
<br /> �a} Ei�her zn persan ❑r by agentr with or withaut bringin� any action or proceedingr or by a r�e�ei�er
<br /> �ppainted by a caurt and withaut regard to the adequacy of its security, enter upon and take possession
<br /> of the Property, or any part�hereof� in its awn name or in the name o�f Trustee, and da any ac�s which it
<br /> deems necessary or desirable�o preserve the�alue, marketability or rentability o�the Praperky, ar part of
<br /> the Praperty or in�eres�in�the Property; increase the incame fr'om the Property or protect�he security of
<br /> the Praperty; andr wi�h or withou� �aking po�session o� the P�operty, sue fior vr otherwise col�ect the
<br /> rents, issues and pro�its ot�he P�operty, incIudin� those past due and unpaid, and appIy�he same� less
<br /> costs and expenses ofi operation and collec�ion attorneys'fees�to any indebt�dness secured by�his Deed
<br /> af Trust, all in such order as Lender may determine. The ente�ing upon and taking possession of �he
<br /> Property, �he collectian ❑f such ren��r issues and profitsr and the appIication �herev�F shaI� nat cure�or
<br /> wai�e any defaul�ar no�ice af defaul�t under this Deed ❑t Trus�or in�aIida�e any act done in response to
<br /> such defaul�or pursuan�to such notice of defaui�t; and, natwithstanding�he con�inuance in pas�ession❑�
<br /> �he Property or the cvilect'ron, �eceipt and app�ica�ion o� rents, issues ar pro�its, Trus�ee vr Lender shai�
<br /> , be entitled t❑ exercise e�ery righ� provided for"rn �h� C�edi�Agreement or the Reiated ❑ocuments v� �y
<br /> Iaw upon the occut-rence of any event ofi de�Faul�, in��uding the righ��❑ exercise�he power o�sale,
<br /> {b} Comm�nce an�activn�o�orec�ose this Deed o�Trust as a martgage, appoint a receirrer or speci�ically
<br /> en�arce any o�the co�enan�s hereofi; and
<br /> �c} Deli�er t❑Trustee a written de�fat-ativn ❑f defiaui�and demand far sale and a written notice of defiault
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