|
. �: 2� 1 ���589
<br /> �;:
<br /> �:::. :;:� ;�;. ;;�:
<br /> �..a:. Y
<br /> �3EE�] �F T��1�T
<br /> ���t�ti�ued} Page 4
<br /> net p
<br /> ra�eeds a'f the award be appl�ed ta the lnd�btednes� vr the repair or re��oratifln v�the Proper�y. Th� ne�
<br /> p��c.�eds of�he award shal! mean the a�rvard a'�er payment of al1 r�asonable casts, expenses, and a�tvrneys �ees
<br /> incurred by Trus�ee or Lender in �annection with the condemnation.
<br /> IMPUSITI4N DF TAXES, FEES AND CHARGE� BY G�VERNMENTAL A�TH�R�TlES. The fallawing p�avisions rela�ing
<br /> to gvvernmental�axes,fees and charges a�e a part of this Deed of Trust:
<br /> Current Taxes, Fees and �harges. Upon requesfi by Lender, Trustar sha�� �xe�ute such docum�nts in addit��n to
<br /> �his aeed vf Trus�and #ake wha#eve�ather a�fiion is requested by Lender ta per�ect and continue Lender's lien on
<br /> a toge�her with all expenses
<br /> the Real Property. Trustor shall reimburse L�nder fa� aIl taxes, s descr�bed below,
<br /> incurred in r�cording, perfect�ng ar �antinuing this ❑eed of Trust, including �rithout �imitation afl taxe�, f�es,
<br /> docur�enta�y stamps,and a�her charges for re�ording vr r�gistering thi� aeed af Tru�t.
<br /> Taxes. The follawing shall cvns�itute taxes tv orvhich #his se�tivn app[ies: ��} a specific �ax upon �his fype of
<br /> Deed a�Trus# or upon a!1 ar any Qart af the �ndebtedness se�ured by this Deed of Trust; (2} a specific tax on
<br /> Trustor wh�Gh Trustvr is autharized or required�o dedu�t#ram payments on fhe Indebtednes�se�ur�d by this�ype
<br /> of Deed of Trus�; (3} a tax on this�ype of Deed of Trus��hargeable agains#�he Lender vr the holde�of�he C�edit
<br /> Agreement; and �4} a spe��fic fax an all ar any po�ion o� the {ndehtedness o� on paym�nts of prin�FpaC and
<br /> intere�t mad�hy Tru�#or.
<br /> Subsequen� Taxes. lf any tax ta which th�s sec��on app�ies is enact�d subsequent to the date of'�his Decd af
<br /> Trusfi, this �vent shall ha�e the same effect as an E�ent of De�ault, and L�nder may exercis� any ❑r al� of its
<br /> a�ailable remedi�s for an E��nt ❑f Defaul� as pro�ided �elaw unless Trustar either �1} pays �he �ax be�ore it
<br /> becomes c�el�nquent, vr ��} �antests the ta�as pra�ided abo�e in the Taxes and Liens sect�on and deposifis wi'�h
<br /> Lender cash vr a�uff cient carporate surety bond ar other security satis�Fac�ary�o Lender.
<br /> SEGURi'�Y AGREEMENT; F�NANClN� STATEMENTS. The �a�E�w�ng provis�ons re�afing to th�s De�d of Trust as a
<br /> security agreement are a part❑f�his Deed o�Trus�:
<br /> 5�curi�y Agreement. This ins��umen� �hall constitu#e a Secu�i�y Agreement to th� extent any �f the Property
<br /> c�nstitutes€ixtures, and Lender shall ha�e a�� of the ri�h�s af a secured par�y under#he Uniform Commercia�Code
<br /> a�amended�rom time to time.
<br /> Securi�y lnteres�. �Upon requ�st by Lender, Trustor shall �ake whate�er action is reques�ed by Lender to pertect
<br /> and continue Lender's security interes�in the Personal P�operty. In addition to re�arding�his Deed of T�us� in the
<br /> real p�op�rty reGords, Lender may, a� any fime and withou� �u�ther authorizafion fram T�ustar, ��le exe�u�ed
<br /> caunte�parts, capies ar repraductions of this Deed a� Trust as a financing statement. Trustar shal! reimbu�se
<br /> L�nder��r all expenses incu�red in p�rfecting or cont�nuEng this secu�ity inte�est. Upon de�au�t, Trus�ormb e�an t
<br /> remave, sever or deta�h �he Personal Property f�4m the Property. Up�n de�ault, Tru�tor �halE asse y
<br /> P�rsanal Praperty not a�fixed ta �he Praperty in a manner and at a pla�e reasonably c�n�enient fo Trus�or and
<br /> Lender and make i� a��ilable t� Lender with�n three �3} days afte� r�e�eip� of w�itten demand f�om Lender t❑ the
<br /> extent permitted by applicable law.
<br /> Addresses. The ma�iing addr�sses of Trus�or �debtor} and Lender �secured party} 'frvm which informat�on
<br /> Gonce�ning the securi�y interest granted by �his Deed �'f Trust may be abtained �each as �equired hy fhe Un�farm
<br /> Comme��ial Cade}are as stated on the first page a�this aeed❑f Trust.
<br /> FURTHER ASS�RAIVCE�; AT'TORNEY��N-FAGT. The fo[�o�nring provis�ons relating tv further assuran�es and
<br /> attarney�in-�ac#are a pa�t ofi th�s Deed�f T�ust:
<br /> Further Assurances. At any�ime, and from time t�tim�, upon�eques�of Lender,Trustor►rvil! make, execute and
<br /> defi�er, o�wili �ause�a be made,execu�ed or deiivered,to Lender flr to Lender's designee,and when r�quested by
<br /> Lender, cause ta be f�ed, recorded, refiled, or re�ecarded, as th�case may be, at su�h times and in sueh off ces
<br /> and places as Lender may deem appropriate, any and all su�h mortgages, deeds of trust, secu��ty d�eds, security
<br /> agrec�menfs, finartcing sta�ements, cantinuati�n stat�men�s, ins�ruments of �urther assurance, certificates, and
<br /> ❑ther documen�s a�may, in�h�sole vpin�on o�Lender, he necessary❑r desirab�e En arder to e�fectuate, camplete,
<br /> perFect, con��nue, ar preserve t�} Trustar's❑b�iga#�ans under�he�redit Agre�ment,this Deed of Trust, and�he
<br /> l��la�ed Dacurnents,and ��} the fiens and securi�y�nterests c�eated by this Deed of Trust as first and prior liens
<br /> �n th� Properly,wh�fher now owned or hereaf�er�cquired by Trustar. Untess prohibited by�av►►or Lender agrees
<br /> tv�he�antrary in v►r�iting, Trus�or shai!reimburse Lender for ai�c�sts and expen5es in�urred�n��nnectivn wifih�he
<br /> matters referr�d to in�h�s par�g�aph.
<br /> Attorn�y-in-Fact. If T�us�or fails�o do any vf the things ref�rred to �n'�he preced�ng paragraph, Lender may do so
<br /> �or and in'�he name of Trustor and at Trustar's expense. For such purpases, Trustor hereby irr�e�oca��y appoinfis
<br /> �ender as Trustar's attorney--in-fa�t far the purpose af mak��g,exe�ufing, d�l��ering, f ling, rec�rding, and doing ail
<br /> ❑�her things a� may be nec�essary�r desirable, En Lender's so[e�pinion, fo accomplish the matters referred to in
<br /> �he pr�:ced�ng paragraph.
<br /> FULL PERF�RMAhICE. If Trustor pays al��he lndebtedness when du�, terminates th��redi't line aGcoun�, and vthenrvise
<br /> perfo�ms a�l the obligations impased upon Tru�tor unde�'�his Deed a�Trus�, Lende�sha�f execufe and de�iver ta T�rus�ee
<br /> a reques� ��r full reoon��yano� and shail execute and deli�er to Trustor suitabie statements of �ermination of any
<br /> f nancing statement on file e�idencin� Lender's s�curity in�erest in the Rent� and the Pers�nal Rr�perty. Any
<br /> r�econ��yan�e fee re�uir�d by[aw shall be paid by Trus�o�, i�p�rmitted by app[icabl�iaw.
<br /> EVENTS DF QEFAULT. Trus�or wiil �e�n de�ault under this Deed v�Trust if any vf the fallow�ng happen: 4A} Trusto�
<br /> cvmmits �raud flr makes a mate��a1 misrepresentafii�n at any time in conne�ti�n wi#h the Credit Agreement. Th�s can
<br /> include, for example, a fialse s�atement abaut Trustar's income, assets, liab+�i#�es, or any vther aspe�ts of Trus�or`s
<br /> fi�nancial condi�i�n. �B} T�ustor does na� m�e��he repayment terms v�the Credit►qgreement. tC} Trusfor's a��ion vr
<br /> inacti�n adversely affeGts the �olfatera# ❑� Lender'� rights in the ca�latera�. This can include, for exampie, fai{ure #a
<br /> mainta�n requfred insurance, waste or des�ruc�ive use�f the dwelling,fa�lure to pay#axes, dea�h�f alI persans liabl�on
<br /> the a�count, transfer ❑'� title �r sale of the dweliing, crea��on o'� a seni�r lien an the dwelling without Lende�'s
<br /> permission,fa�eclosu�e by the holder af another lien, a���e use of�unds or the dwelling fiar�rohibEted purp�ses.
<br /> [�lG�l�"S AN� ��l�IE��E�nhl D�FAULT. Ef an E�ent vf L��'Fa�a1�occurs under this De�d of Trust, a��ny�im�th���after,
<br /> Trustee�r Lender may exercise any ane�r more af the fial�owing righfs and r�medi�s:
<br /> Acceierat�on L]pon�e�ault;Add��ivnal �emedies. If any Event of�efau�t o�curs as per the terms o��he C�edifi
<br /> p►gre�ment secu�ed hereby, L�nder may d�clare aCi �ndeb�edness secured by��is Deed o'�Trust to be due and
<br /> payal�le and the�ame�ha�!thereupon become d��e and�ayable wi�h�ut any presentment,demand, Qrofiest�r
<br /> notice af any k�nd. Thereafter, Lender may:
<br /> �a} Either in persan ❑r by agen�, with or wi'�hout �ringing any ac�ion or proceeding, or hy a re�ei�er
<br /> appa�nted by a�ourt and withoufi regard to the adequacy of i�s se�urity, en�er upon and take pnssession
<br /> of the P�r�pe�y, ar any part thereof, in�ts awn name❑r in the name o'�Trustee, and d❑any acfis which it
<br /> deems neoessary or desira�le�v preserve�h��alue, marl���abili�y or rentabi[ity o'�the Prop�rty,❑r part of
<br /> �he Property❑r�n�eres�in the Prop�rty; increase�he incame from the Property❑r protect the seGurity o#
<br /> the Property; and, with or wi'�hout taking poss�ssivn of fihe Property, su� for� or flthen►vise callec�'�he
<br /> ren�s, issues and profits of the Praperty, including �hose past due�nd unpaid, and apply the same, �ess
<br /> �asts and�xpenses o�op�ration and caslect+an a'�to�neys'�ees,�o any indebtedness secured by th[s Deed
<br />
|