|
2� 1 ���495
<br /> DEEL7 �F TRUST
<br /> ��ont�nued� Page �
<br /> participation.
<br /> Applicativn vf Net Proceeds. If all or any part�f th� Praperty �s condemned by eminen�domain proceedings or by
<br /> any proceeding or purchase in lieu of�ondemna�ion, Lender may at its e�ection �equire tha�all or any p�rtion of the
<br /> net pra�eeds �f th� award �e applied �o th� Indebtedness or the repair o� restoration of �he Property. The ne�
<br /> pro�eeds of the award shall mean the award after payment o� alf reasonable costs, expenses, and attorneys' fees
<br /> incurred by Trustee or Lender in connec�ion wi�h th� c�nd�mnatinn.
<br /> IIVIPDSITIDN �F TAXES, FEES AND GHARGES BY GaVERNMENTAL AUTH�RITIES. The fiollowing pro��sions rela�ing
<br /> to go�ernmenta�taxes, fe�s and charges are a pa�t o#this Deed o�Trust:
<br /> �urrent Taxes, Fees and Charges. Upon request by Lender, Trustor shall exe�ute such documents in addi�ion ta
<br /> this Deed o�Trus� and �ake whate�er other a�t�on �s requested #�y Lender to perfe�� and continue Lender's lien on
<br /> the Rea� Property. Trus�or shall reimburse Lende� for a�1 �axes, as descrihed below, together w�th all expenses
<br /> incurred in r�Gordin�, perfeCting or continuing this Deed o� Trust, including wi�hou� iimitation a�l taxes, �ees,
<br /> docum�ntary stamps, and other charges for recarding�r register�ng this ❑eed of Trust.
<br /> Taxes. The �ollowing shall cons�itu�e taxes to whi�h th�s sectivn ap�iies: �1} a specifi� tax upon this type of
<br /> De�d of Trust ar upvn all or any part of the Indeb�tedness secu�ed by �his ❑eed of Trust; ��} a speci�ic �tax an
<br /> Trustvr which Trustor is authvrized vr r�quir�d to deduct�rom payments on the Inde�tedness s�cur�d hy this type
<br /> af Deed of Trust; �3} a tax on this type a� ❑eed o�f Trust cha��eab�e a�a�nst the Lender or the hofder❑f�he Na�e;
<br /> and �4} a speci��c �ax on all or any por�ion of the Inde�tedness or an payments �f principal and interest made by
<br /> Trus�or.
<br /> Suhsequen� Taxes. i� any tax tv whi�h this section applies is ena�ted subs��u�nt �o the da'�e of this �eed of
<br /> Trust, this e�ent shall ha�e the same e�fect as an Even� of Default, and Lender may exercise any or all o� its
<br /> a�ai�a�le remedies for an E�ent o� Default as pro�ided belvw unless Trus�or either �1� pays the �ax before �t
<br /> becomes delinquen�, or �2� c�nt�sts �h� �ax as pro�ided aba�e �n the Taxes and Liens sect�on and deposi�s with
<br /> L�nder cash or a sufficien�corparate surety bond or other security sa�isfac�ory�o Lender.
<br /> SECURITY AGREEMENT; FINAN�lNG STATEMENTS. The �a��owing prv�isians relating �o this Deed o� Trus� as a
<br /> securi�y agreement are a part of this Deed of Trust:
<br /> Security Agreemer�t. This instrument shall cQnstitu�e a Se�urity Agreement to the extent any af the Praperty
<br /> constifiutes fix�ures, and Lende�shall ha�e all of�he righ�s af a secured party under the LJniform Commerciaf �ad�
<br /> as amended from �ime to time.
<br /> 5e�uri#y Interest. Upon request by Lend�r, Trustor shall take whate�er ac�ivn is requested by Lender �o perfect
<br /> and �ontinue Lender's security interest in the Rents and Personal Praper�y. �n addition ta rec�rding �his Deed of
<br /> Trust in the real praperty re�ords, Lender may, at any time and withou� further authori�ation �rom Trus�or, file
<br /> executed caunterparts, capies or reproductions of this Deed v# Trust as a financing statement. Trus�ar shall
<br /> reimburse Lender far all expenses incurred in perfecting or cantinuing �his security interes�. Upon de�ault, Trustor
<br /> shall no� remo�e, se�er or detach the Personal Property from the Property. Upon defaul�, Trustor sha�l assem�le
<br /> any P�rsonal Property not a���xed to the Proper�y in a manner and at a piace reasonahly �on�enient to T�ustor and
<br /> L�nder and make it a�aifab(e �o Lender within three �3� days after receip� of written demand from Lender ta the
<br /> extent permitted �y applicable law.
<br /> Addresses. The mailing addresses o� Trus�or �debtor} and Lender �secured party� �rom which information
<br /> �oncerning �he security interes't granted by this Deed of Trust may be �htained 4each as requirsd by the lJniform
<br /> Commercial Cade� are as s�a�ed ❑n the first page of this Deed o�Trust.
<br /> FURTHER ASSURANCES; ATT�RNEY-IN-FAGT, The follvwing pr���sinns relating to fur�her assurances and
<br /> atto�ney-in-fac�are a part o�this Deed of Trust:
<br /> Furthe� Assurances, At any �ime, and from time to time, upon �eques�of Lender, Trustor will make, execute and
<br /> deli��r, �r will �ause�❑ be made, executed o�deli�ered, to L�nder vr to Lender's design�e, and when requested by
<br /> Lender, caus� �o be fiiled, recorded, refiled, or rere�arded, as �he case may be, at such times and in such of�ices
<br /> and places as Lender may d�em appropriate, any and all su�h mortgages, deeds of trus�, s�curity deeds, securi�y
<br /> agreements, financing statements, continuation statemen�s, instrumen�s of �urther assurance, �ertificates, and
<br /> other documents as may, in the sole op�nion o� Lender, b� necessary or desirabfe in order to �ffec�uate, comp�ete,
<br /> perfect, continue, or preser�e �'1 y Trustor's ob�igatians under the Note, this Deed of Trust, and the Relat�d
<br /> ❑�cuments, and ��} the liens and security interests creat�� by this Deed a#Trus� as first and p�iar liens on the
<br /> Proper�y, whe�h�r now owned or hereafter acquired hy Trustor. Unfess prQhib�ted by iaw or Lender agrees to the
<br /> contrary in wri�ing, Trustor sha�� reim#�urse Lender �or all c�sts and �xpenses incurred in conne�tion with the
<br /> matters r�f�rred to in�his paragraph.
<br /> A�tv�ney-in-Fa�t. I#Trustvr�ails to do any of the things re�erred to in the preceding paragraph, Lender may d� so
<br /> for and in the name ��Trustar and a� Trustor's expense. Fnr such purposes, Trustor hereby irr��ocah�y appoin�s
<br /> Lender as Trustor's attorney-in-�a�t�or the purpase af making, executing, deli�er�ng, filing, recording, and doing all
<br /> ather things as may be ne�essary or desirahle, in Lender's sole opinion, �o a�compi�sh the matters referred to in
<br /> the p�eceding paragraph.
<br /> FULL PERF�RMANCE. f�Trustor pays all �he lndebtedness, inc�uding w�thaut limitation all future ad�ances, when due,
<br /> and atherwise performs ali the ohligations imp�sed upon Trustor under this Deed o� Trust, Lender shaff execute and
<br /> defiver to Trustee a request for �u�f recon�eyance and shall execute and deli�er t❑ Trustor suitable statements of
<br /> termination o� any financing s�a�ement on �il� e�iden�ing Lender's security interes� in the Ren�s and the Persona�
<br /> Proper�y. Any recon�eyanc� fee required by law shaii b� paid by Trustor, if permitted by applicable law.
<br /> EVENTS �F DEFAULT. Each o�the follawing, a# Lender's opti�n, shafl constitute an E�ent af Default under this Deed
<br /> o�Trust:
<br /> Payment Defau�t. Trustor�ai�s t� make any paymen�when due under�he lndebtedness.
<br /> �ther Dsfaults. Trus�or faifs t� camply with or to per��rm any a�her term, obligation, �o�enant or condition
<br /> contained in this ❑eed of Trus� or in any �f �he Reiated Documents ar to camply with or ta p�rf�rrr� any �erm,
<br /> ohliga�ion, co�enant or condition contained in any❑�her agre�ment between Lender and Trustor.
<br /> �vmp�iance De�au��. Faiiure to camp�y with any ather term, obligativn, co�enant or condition Gontained in th�s
<br /> Deed af Trusfi, the Nate or in any af the Re�at�d Documents.
<br /> De�ault an�ther Paymen�s. Failure of Trustor within�h���me required by this Deed of Trust to make any payment
<br /> for�axes or insuranc�, or any o�her payment necessary to pre�ent�iling af ar to effect discharg���any lien.
<br /> Defauit �n Fa�or of Th�rd Parties. 5hould Grantor default und�r any loan, extension of credi�, security agreement,
<br /> purchase or sales agreement, or any other agreem�nt, in �a��r of any other c�ed�tor or person that may materially
<br /> aff�ct any o� Gran�tor's property o� �rantvr's ahility to repay �he �ndebtedness or Grantor's ability t� per�arm
<br /> Grant�r's obliga�ions under this Deed a�Trust or any of the Rela�ed Documents.
<br /> False S#a#ements. Any warranty, repr�s�ntat�on or s�atemen� made or �urnish�d t� �ende� by Trus�or or on
<br /> Trustor's behal� under this Deed of Trust or�he Re�ated D��uments is €alse ar misleading in any ma�erial respect,
<br /> either now o�at the time made ar furnished or bec�mes false or misleading at any tim�th�rea�ter.
<br /> �
<br /> �
<br /> A y
<br />
|