|
2� 1 ��728�
<br /> �]EED �F TRI�ST
<br /> ���n�lnued} Page 4
<br /> net proceeds ❑f the avv��� be �pplied ta the [nde�t�dness ar the repair or restora�tion of the �'roperty. The net
<br /> proce�ds of the award sh�ll mean the aw�rr� afte�payment of�Il reasonable costs, expenses, and a�tor��ys'fees
<br /> incurred by Trustee or Lender in�onnectivn tnrith the condemnatian.
<br /> 1�1P�SI�I�N O�7A?{�S, F�ES AND �HI�IRGES aY GOV�RNI�ENTA�.AUTHORIT�ES. 7he ��Ilowir�g pr�vis�ons relatin�
<br /> to gover�mental t�xes,�ees and charges are a part of this Deed o�Trust:
<br /> Current Taxes� Fees and �harges. �lpon req�esi�y Lentier, Trustor sha[I execute such docum ents �r� add ition �o
<br /> this Deed af Trust end take wha�tever ot��r ackion is requested by Lender to �el-fect�nd continue Lender's]ien on
<br /> the Rea� Pr�per#y. Trustor sF�a�l reimburse Lender fa r all taxes, �s described belor�r, together w ith all exper�s�s
<br /> incu rred ir� recording, pe�fecting or c�ntinui ng th is D�ed of Tru st, includ ing witF�ou f limitafivn all taxes, fees,
<br /> documentary stamps,�nd other charges for recording or registering this Deed of Trust.
<br /> �axes. T�e fa1[owing shal! constitute taxes #o whicl� this secti�n applies: �'i� � speci�ic tax upon this ty�e of
<br /> Deed af Trust or upon a[I or any part o�f�� Indebtedness secured by tl�is �eed of Trust; �27 a specific tax on
<br /> 7rustor w�ich Trusto r is auti�a rized v�re�uired tv d�du ct from payments on the Indebfed n ess s�cured by t�is f�rpe
<br /> af Deed qf Trust; �3} a tax an this type of Deed o��'rust chargeable a�ainst the Lender or the holder of ti�e Nake;
<br /> �nd �4� a sp�cific tax o�all vr any portion of the Ir�debtedr�ess ar on payments of pri�cipal a�d inter�st made by
<br /> 'Trusior.
<br /> 5ubsequent Zaxes, I� any t�x �o wF�ich this section applies is enacted subsequent to the date of#his D�e�ed of
<br /> Trust, t�is evenk shafl �ave the sa�ne ef�ect as an E��n� of De�auEt, ar�ci Lender may exerase any ar a11 of its
<br /> avai�ab�e r�medies far an E�ent of Defau[t as prov�ded below unfess Tn�stor either �1} pays #he tax be�ore it
<br /> becarries delinquent,o� ��} contests t�e tax as pro�id�d ai�a�e in the Taxes and Liens section and d�posi�s with
<br /> Lender cash ar a sufficient corporafe surety band ar ather securi�y satisfac�ory ta Lec�der.
<br /> SEClJRI'�Y AGFtEEM�N7; FINA�VG�NG STATE1�iF[�TS. The following provisivns relating to this �eed of �'rust as a
<br /> security ag reem en t are a part of this Deed o f Tru st:
<br /> Sec�rrity Agreernent. This instrument shal] eonst�tute a Security Agreement fo the ex�ent ar�y af the Property
<br /> constitutes fxtures� and Lend�r shall have all o�fhe ri�hts of a secured p�rty unc�er the Uniform �arnmercial Code
<br /> as amended from tirne to time.
<br /> Security �nterest. Upon request by �ender, Trustor shall take u�rhatever actian is reques�ed by Lender to perfect
<br /> a�d cantinue Lend er's security interest in the Rents �nd personal F�roperty. In ad�ition to recordin� �his Deed o f
<br /> i'rust i n the reai property recor�s, �en�er rnay, �f �ny tim e and vr�i�hv ut furth er 2�uthoriza�ion fro�n Trustor, f le
<br /> ex�cut�� caunter�arts, copies or reProdu�tivns of this �eed of Trus� as a fnan�ing stateiner�t. �'rustvr sf�al�
<br /> reimbu�� Lendet for all expenses incu��ed ir� �erfe��in� o�'cont�nuing th�s secu�ity interest. Upvn d�fauit,'Crustor
<br /> sh�ll not �emave, sever or�etach the Per�sona! Proper�y from the Proper#y. Upon defau[t, Trustor sha11 assemble
<br /> any pe�sonal Pro�erty not ai�ixed to th e Property i n a rnanner an�at a place reasonably convenien�to Trustor and
<br /> Lender and rnake �t availab�e ta Lender�rithin t�ree �3� days after recei�t�f vtir�itten derr�and fro m Lender to t�e
<br /> exten t permitted by�P�licab�e la►nr.
<br /> Addresses. The mailir�g addresses af Tr�s�or {debto r� an� Lender {secured parfy) fto m w hic�t in forrrtaf ion
<br /> concerning ffne secur€ky interest grar�ted by t�is peed of�'rUst may be abtained �each as re�uired by fhe Unifvrrr�
<br /> Comrrr�rcial�ode��re�s sta�e d on t�e f irst Page o f this Deed af Trust.
<br /> FURTHER ASSURANCES; ATTOF�N�Y�1N-�AC7. 7�e follavtiring provisions re�ating �o further assurances and
<br /> attorney-in-f�ct are a part of thrs ae�d of Trust:
<br /> Fur#her Assurar�ces. At any tim�� ar�d fram�ime#o time, u�pon requ�st of��nd�r,Trustor wi�l rroke� exeaate�nd
<br /> deliver,or will cause#o be made,execufed or delivered,�o Lender or to�enders designee��nd when rec�ueste�l by
<br /> Lender, c�use to be filed� recorded� ref lec#� or�r�r�carded� as the case may be� at suc�times anc�in such offcces
<br /> and plaoes as�ender rnay deem approp�at�, any and af I s�c�t mortg�ges, de�ds of trust, ���urity dee�, security
<br /> agr�emenfs, fnan�ing s�at�:rr�:nts� c�ntinua�ion statement�, instruments of further assura�ce� �ert�f�cates� and
<br /> ot�er documents as may,in th�sole opinion o�Lender, be neaes�s�ry or desirable in or�er ta e�fectuate,com�lete,
<br /> perfect, continu�, or presen�e ('i y Yrustv�'s abligatians under the �lote, this Deed of i"rust, and fhe F�elated
<br /> Doalmenfs,and �2} the lier�s and security inferests created by t�is D�d of Tru�t as first and prior Iiens an the
<br /> Property,v�rhethe�-narnr ovtimed or hereafte�-aoquired E�y�rust��, lJnless prohibited by I�w or L�n�ier�grees to#he
<br /> cantrary i n writin�, `f'rvsfor shall r�irn6urse L.vrxlc�r for a!I oasts �nd oxpe�svs i ncurt-eci i� connection witl-� the
<br /> matters referred to in this p�r��raph.
<br /> Attorney��n•Fact. 1 f'T'nrs#or fails to da�ny of t��things referred to in f he prer,eding p�r�gr�ph, �ende�rr�y da so
<br /> far ar�d in ti�e narr�of Trustor�nd at'f'rustar's expen�e. For such purposes,Trustor hereby irreWocab�y appoints
<br /> Lender as Trustor's attorney�ir�-fact�or the purpos�of makin�,executing,deli�ering�ftling, recordin�, and dain�all
<br /> other thin�s as may be ne�essary ar desirab�e, in Lende�s sole apinion, ta accomplish the mat�ers referred fa in
<br /> the preceding��ragra�h.
<br /> FU[.L PEFtF��M1�NC�. If Trustar pays aI[ the Indebtedness wh�n due, and atf�erwise perfarms alI the abligations
<br /> irnposed upon �'rus#ar und�r t�is �eed o� '�rust, �ender� s�all execute �nd deliver to Tru�te� a request for full
<br /> reoonvey�r��e and shall execute anci deliver to 7'rustor suitable sta�ements of termination af any f nancing statcment an
<br /> �i�e��iden�ing Len�e�s security interest in�E�e R�nfs and the Personal Pr�perty. Any reconvey�nce fee required by f avtir
<br /> shall be paid by"�'rustar�if p$rmittsd by ap�[icable law.
<br /> EV�NTS OF DEFAl1LT. Each of th e fal(awing� af �end er's op#io n� shall ca n stitu te an Event of d efau It Unde r t�is ��ed
<br /> vf fr�st:
<br /> Payment Default. Trustor'fails ta make any paym�nt when�ue under the I�de�#edness.
<br /> Othar a�f��lts. Tru3tor toil� to �vmply with or tv �oriorm csr�y ollic�r te�rm� abli��t�o�� covc�n�nt or aondltlon
<br /> contained in this �e�d of Trust or in ar�y of the Relateci Documents or to comply wi#h or to p�riorm a�ny t�rm,
<br /> obligat��r�, covena��or cond itifln cantaine�i in�ny at�e�agreement f�etVveen Lender and Trustor.
<br /> Com plian�e D efault. Failure to cam p1y w ith any a#her term, pb�l��t10�l. cavenant or co n dition contained in th is
<br /> Qe�d of�'rus�,�he iVofe or in any ot th�Refafed Documents.
<br /> �efault on Other Payrnents. Failure oi 7rus�ar rrv�thin t�e time requ�red by this Deed of Trusf to make any payment
<br /> for taxes vr insurance�or any o#her payment necessary to prevent filir�g❑f or to effe�t discE�arge of any fien.
<br /> Default in Favor of�h�rd parties. Should Grantor default under any laan, extension of credif, se�urity agreement,
<br /> pur�hase or sales agreement, or any ather agreement, in favor af any atner creditflr or person ti�at may materially
<br /> affect any of Grantar's properiy ot �rantor's a�ility to repay the I nciebte�f ness or G r�ntor's abif ity to per�orm
<br /> �rantor's obligations untier this Deed❑f Trust or any of t�re Related Documents.
<br /> �alse Statements. Any warranty� representation vr statement made or fumished to Lend�r by Trustar a� on
<br /> 1'�ustar's behalf und�r�F�is Deed af 7r�st or the Related Dv�u ments is false or misleading in any ma#e�ial respect�
<br /> �ither noirv�r at the#i me rnade ar furnishEd or beoomes false�r misleadin�at any time fhereaffer.
<br /> DefectIve Coll�teral�za#ivn. �his De�d of Trust or a�y af the F�elated �acuments ceases to be ir� full force and
<br /> effect ��ncluding f�ilure of ar�y col�ateral dacument#o cr�a�te a�a1id and perfect�d securi�y interest or lien� at any
<br /> �ime and for any reason.
<br />
|