Laserfiche WebLink
2� 1 ��8127 <br /> DEED �F TRLJST <br /> , <br /> tCont�nued} Pag� 4 <br /> Taxes. The fafiowing shall cons�itu�e taxes �o which th'rs section appIies: {'�} a specific tax upon this type o� <br /> ❑eed af Tru�t ❑r upon a[I or any par-� ❑�the Indeb�edness secured by�his Deed of Trustr �2� a speci�Fic tax ❑n <br /> Trustor which Trustor is authorized o�required�o deduct from payments �n�he lndebtedness secured by this type <br /> of Deed of Trus�t; �3� a�ax on this type ❑f Deed ❑f Trust chargeable against the L�nde�or�he holder of the C�edi� <br /> � Agr�emen�; and �4� a spec�#ic tax an a2� or any portion af the Indebtedness ar an payments at principal and <br /> �nte�-est made by Trustor. <br /> Subs�quent Tax�s. If any �ax to wf�ich �hxs section appIie� is enact�d subsequent to the dafi� ofi this ❑eed o� <br /> Trustr this e�ent shalI have th� sam� e�ffect as an Event of ❑e-�au�t, and Lender may exerc�se any ��- all o� i�s <br /> a�ailab�� remedies tor an Er�en� ❑f ❑efault as provided belflw uni�ss Trustor either {�� pays the tax before i� <br /> becames deIinquent, or {�} contests the tax as pro�ided abo�e in the Taxes and Liens sec�ion and depasi�s wi�h <br /> Lender cash ❑r a sufficien�corporat�sure�y bond or o�her security satisfia�tory to Lender. <br /> SECI�RITY AGREEMENT; FINANGING STATEMENTS. The follow�ng p�rovisions �-elating �o �his Deed of Trus� as a <br /> seGurity a�reement are a par-�❑f this Deed❑f Trus�: <br /> � <br /> Secu'rjty A�reement. This ins��umen� sha1l cons�itu�e a Security A9re�men� �o the ex�eht any of the Proper�y <br /> canstitu�es fixtures, and Lender shall ha�e aII o�th� rights o�a secured parry under the Uniform Commercial Code <br /> as amended from time to time. - <br /> S��urfty In�erest. �1pan request by Lender, Trustor sha1l �ake rn�hatev�er action is requested by Lender to pei-fect <br />' and c�ntinue Lender's security �nterest in the PersahaI Prvper�y. In addition to recording �his Deed of Tru�t in�he <br />, �ea! property re�ords, Lender may, a� any time and without �urther autho�izatian from Trus�or� fi�e execu�ed <br /> �oun�erpar�s, �opies ❑r reproductions of fhis Deed of Trust as a financing s�a�ement. Trustor �hall reimburse <br />' Lender for all expenses incurred in perFecting or confinuing this security interest. Upon defauI�r Trustor shafl not <br /> remo�e, se�er or detach fihe Per-sonal Properry f�om �he Proper�y. Upon de�auIt, Trus�or� sha1l a�semble any <br />� Pers�naI Pra e <br /> p rty no� affixed to the Prapert�r in a manner and at a piace reasonably �vn�enient to Trus�vr and <br /> Lender an� make it a�ailab[e ta Lender within three {3) days after reaeip� ofi written demand from Lender to �he <br /> ext�nt per-mitted by applicable law. <br /> Addresses. The mailing addresses of Trus�or �deb�or} and Lender {secu�ed party) fram which information <br /> con�erning the securify int�res� granted by this I�eed o�Trust may be o�tained {each as required by-�he Uniform <br /> Cammercial �ode} a�e as stated on the�irst page o�thrs Deed o�Trust. <br /> FURTHER ASSURANCES; ATT�RNEY-IN-FACT. The �oIIowing pr�visions r�latin� �o further assuran�es and <br /> attorney-in-�act are a part ot�his ❑eed of Trust: � <br /> Further Assurances. At any time, and -�rom time to time, upvn request o�Lender� Trus�or wiII make, execu�� and <br /> � deliver, or wilf cause to be made, execu�ed ❑r deIivered�to Lender vr to Lender's designee� and wh�n �equested by <br /> Lender, cause tv be filed, reaorded, refiled, ar re�ecorded, as the case may be, at such times and in such o�Fices <br /> and pla�es as Lender may deem appropriatef any and aII such mortgagesr d��ds of�rus�, security deeds, securi�y <br /> agreements� �inancing s�atemen�s� continua�ion s�tatements� instruments of further assurance, certi�icates� and <br /> other documents as may, in th�sole opinion at Lend�r, be necessary or desirabl�in order to effectuate, compie�e, <br /> per-Fec�, �an�inue, or preserve .��7 Trus�or�s obligations under fihe Credit Agreement, this D�ed o�Trus-�, and�he <br /> Re[at�d Documen�s, and ��� �he Iiens and secur-ity interes�Cs crea�ed hy this Deed of Trust an �he Property, <br /> whether now otnrned or hereafter acquired by Trustor. UnIess prohibited by law or Lender ag�ees to the �on�ra�y in ' <br /> wri�ing, Trusta�shaII r�imburse Lender-For aII cas�s and expenses incurred in connec�ion wi�h�he ma�ters re�e��-ed <br /> �o in this parag�-aph. � <br /> Attorney-in-Fact. Ifi Trustor fails to do any of�he thing$ referred to in�he precedin� paragraph, Lender may da so <br /> far and �n the name afi Trus�or and at Trusto�'s expens�. For suah purposes, Trustor hereby irre�acably appaints <br /> Lende�as Trustor's attorney-in-�act for the purpvse a�making, executing, deli�ering, filing, recarding, and doing al� <br /> o�her things as may be necessary or desirable, in Lender's soIe opinion, to accampt�sh �he matters referred to in <br /> the preceding paragt-aph. <br /> FUtL PERF�RMANCE. If Trusto�pays all the Indeb�edness when duey�erminates th�credit line a�count, and o�therwis� <br /> per�orms ai!�he obligations imposed upon Trusto�r under this ❑eed of Trus�, Lender shall e��cufie and deIi�er�❑Trus�ee <br /> a reques� for -�ull reconveyance and shall execute and deIi�er �o Trusto�- sui�able statements a� terminatian of any <br /> fiinancing s�atement on f�le e�idencing Lender's security interest in the Rents and �he Personal Property. Any <br /> recon�eyance fee required by!aw s�aII be paid by Trustor,i�permitted by appiicab�e law. <br /> EVENTS �F DEFAULT. Trus�nr wiIl �e in default und�r�this Deed of Trust i�any ofi the fioIIowing happen: �A} Trus�ar <br /> cammits fraud or makes a ma�terial misrepresentation at any time in cannection wifih the Credit Agreement. This �an <br /> include, �ar examp�e, a false s�a�em�nt_abou� Trustor's inavme, assets, liab�Iities, ❑r any other aspects of Trustor4s <br /> financial �ondition. {B� Trus�or does not meet the r�paymen�terms of the Credifi Agr�ement. {C} Trustor's action �r <br /> inaction adversely affec�s the coIIateral or Lender's rights in the collateral. This can incIude, for example� tailure to <br /> maintain required insurance, waste or des�ructiWe use of the dweIling,failure t❑ pay tax��, dea�h of a1I persons Iiable on <br /> the accaunt, transter ❑� ti�Ie or sale of the dwelling� creation ❑f a seniar fien on the dwelling wi�hout Lender's <br /> pe�-mission,foreclosure by�he ho�der o�an�ther Iien, vr the use o�funds or the dweIIing for prohibited purposes. <br /> RIGHTS AND REMEDIES �N DEFAULT, if an Event of Default❑ccurs under this l�eed of Trust, at any time thereafter, <br /> Trus�ee❑r Lender may exercise any one or mnre of the foIIowing rights and remedies: <br /> A�G�I�ration Upon Defau[t;Additianal Remedies. ��any E�ent of DefauIt occurs as per the terms of�he �redi� <br /> . � Agreemen�secured hereby. Lende�may dectare ail Inde�tedness secured by�his Deed of Trust to be due and <br /> payable and the sam�shaIl thereupon become due and payable without any presentment; demand, protest❑r <br /> notice af any kind. Thereafter, Lender may: <br /> �a} Either in persvn vr by agen�, with o�- wi�hout br�nging any ac�ivn or prvc�eding� or by a recei��r <br /> appointed by a caurt and without regard to the adequacy a-F its security, �nt�r upon and take passes�ion <br /> of the Proper�y, or any part thereo�, in its own name❑r in the name of Trustee, and do any ac�s which it <br /> de�ms necessary or desirab[e�o preserve fihe va�ue, marketabiIity nr-rentability❑�F the Property� DI'pai-�D� <br /> �he Property vr in�erest�n the Property; increase the fncome �rom �he Properry or prot�c�the security o� <br /> the Property; and, with or without taking passessian o� the Praperty, sue far ❑r ❑therwise colIec� �he <br /> re�nts, issues and profi�s o��he Property, including thase past due and unpazd, and apply the same, less <br /> costs and expenses of operation and collection at�orneys' ���s,�❑ any indebtedness secured by this l�eed <br /> ❑�F Trus�, aI1 in such order as Lender may de�e�-mine. The entering upon and taking pos�es�ion o� the <br /> Prope�ty, the collec�ivn ❑-F such rents, issues and prafits, and the application thereo-F shaI� no� cu�e or <br /> waive any defaul�or notice of default under this ❑eed of Trust❑r in�alidate any ac�done in respnnse to <br /> such default❑r pursuan��o such notice of defaulfr and, notwi�hs�anding the cantinuance in possession ❑f <br /> the Property ar�the collection, rece�p� and application o�F rents, �ss�es ar pr-o�Fitsr Trustee ❑r Lender sha�� <br /> be entitIed to exercise e�ery right provided for in the �redi�Agreemen� or the Related �ocuments or b�r <br /> Iaw upan�he oacur"rence o�any even�❑f de�aul�, inciuding the right to exet�cise the pflwer af sale; <br /> {b� �ommenc�an action to�o�ecfose this Deed ❑�Trust as a mor�gage, appoint a recei�er or specificaIly <br /> enforce any v�the covenants hereaf; and <br /> �c} Deliver to Trustee a wri�teh dec�aration❑f default and demand for saIe and a w�-i�en notic�❑f defaul� <br />