|
2� 1 ��874�
<br /> QEED �F TRUST
<br /> Loan Nv: 'I�'I 299552 ��antinued} Page 5
<br /> existing appli�abie�aws, flrdinan�es, and regulations o�ga�ernmen�a[autharities.
<br /> Survi�al o# Representations and Warranties. A11 repres�ntations, warranties, and agreements mad� by Trustor in
<br /> this Deed ❑f Trust shall sur�i�e�he execution and deti��ry of this aeed of Trust, shaii be continuing in na�ure, and
<br /> shall remain in fiul�force and effe�t until such time as Trustor's Indebtedness shall ba paid in full.
<br /> CUNDEMNATIQN. The #o[lowing pro�isivns relating tv condemnation praceedin�s a�e a part af this Deed af Trust:
<br /> Proceedings. �f any proceeding in cvndemnatian is filed, Trustor shali prvmptly noti�y Lender in writing, and
<br /> Trust�r shall promptly take such steps as may be necessary xa defend the action and obtain the award. Trustor
<br /> may be the nominal party in such prvice�ding, but Lender shall be entitled to participate in the praceeding and t❑ be
<br /> represented in the proceeding by counsel o# its vwn choic�, and Trustar wil! deli�er or cause to be deli�ered to
<br /> Lender such instruments and d�cumentation as may be requested by Lender from time to t�me to permit su�h
<br /> parti�ipatEan.
<br /> Application vf Net Proceeds. �f all or any part of the Property is candemned by eminent damain prviceedings ❑r by
<br /> any pr�ceeding ar purchase in lieu vf condemnatian, Lender may at its electi�n require that all ❑r any partian of the
<br /> ne# praceeds ❑f the award be applied to the �ndebtedness ar the repair ❑r restvration af the Proper�y. Th� ne�t
<br /> proceeds of the award shal� mean the award after payment af aCf reasonable C05t5. expenses, and attarneys' fees
<br /> incurred by Trustee or Lender in connection with the candemnation.
<br /> IMP�SITIDN DF TAXES. FEES AND CHARGES 6Y GQVERNMENTAL AUTH�RITIES. The fiailvwing provisians relating
<br /> to go�ernmental taxes, fees and charges are a part of this ❑eed of Trust:
<br /> Gurrent Taxe�. Fess and Charges. Upvn request by Lender, Trustor sha�l execu�� such documents in addition to
<br /> �hi5 Deed �f Trust and take whate�er other actian is requested by Lender ta perfect and cvn�inue Lender's lien �n
<br /> the Rea! Prvperty. Trustor shall reimburse Lender far all taxes� as d�scribed belov+r, tvge�her with all expenses
<br /> incurred in recording, perf�ctin� ar cant�nuing this �eed of Trust, including withvut limitati�n all taxes, fe�s,
<br /> dacumentary stamps. and ather charges for recording or regtstering this Deed ❑f Trust.
<br /> Ta�es. The fallawing shall constitute taxes to which this�sectivn applies: ��} a specific �ax upvn this type o�
<br /> Deed of Trust ❑r upon all or any part o� the �ndebtedness secured by this Deed of Trust; �2� a spe��fic tax �n
<br /> Trustor which Trustor is authar�zed or required t❑ deduct from payments on the �ndebtedness secured by this typ�
<br /> of Deed of Trust; �3y a tax an this type of Deed ❑t Trust chargeable against th� Lender❑r the halder of th� Note;
<br /> and �4y a specific tax on all ❑r any portion of the �nd�btedness ar ❑n payments of prin��pal and interest made by
<br /> Trustor.
<br /> 5uhsequent Taxes. I# any tax to whEch this seG�ivn appli�s is enacted subsequent tv #he �ate of this ❑eed of
<br /> Trust, this e�ent shaEt ha�e #he same effect as an EWent of DefauEt, and Lender may exercise any or al� af its
<br /> available remedies fiar an E�ent ❑f De�fault as pra�ide�! below un�ess Trustor either �"�� pays the tax befare it
<br /> becomes delinquent, or ��f contests the tax as pro�ided abo�e in the Taxes and Liens section and depasits with
<br /> Lender cash or a sufficient carporate surety bond or vther s�curity satisfactory to Lender.
<br /> SECLJRITY AGREEMENT; FINANCING STATEMENTS. The following provisivns re�ating ta this Deed ❑f Trust as a
<br /> security agreement are a part af this Deed af Trust:
<br /> 5e�urity Agre�ment. Th�s instrument shaif constitute a Security Agreement t� the exten# any of the Property
<br /> �anstitutes fixtures, and Lender shall ha�� all ❑f the rights af a secur�d party under the Llniform �ammercial Code
<br /> as amend�d fram �ime to time.
<br /> Security Interest. Upon request by Lender, Trustvr shall take vvhate�er �c'tion �s requested by Lender t❑ perfect
<br /> and �on�inue Lend�r's security in#erest in the Rents and P�rsonal Property. In addit�on ta recording this [3eed �f
<br /> Trust in th� rea� property recards, Lender may, at any time and without turther authorization fram Trustor, fite
<br /> executed cvunterparts, copies or reprodu�tions of this Deed vf Trus� as a financing statement. Trustor shall
<br /> reimburse Lender for alI expenses incurred in perfecting ar continu+ng this se�urity inter�st. Upon default, Trustvr
<br /> shall not remo�e, s��er ar detach the P�rsonal P�aperty fram the Property. Upon default, Trustor shall assem�le
<br /> any P�rsonal Praperty not affix�d to �he Property in a manner and at a pla�e reasonabty conven�ent t❑ Trustor and
<br /> Lender and make it a�aifable to Lender within three �3� days after receipt ❑f written demand firom L�nder to the
<br /> extent permitted by applicable �aw.
<br /> Addresses. The mailing addresses af Trustor �debtory and Lender tsecured partyy fram which informatian
<br /> cvn�erning the securEty in�erest granted by this ❑eed af Trust may be abt�ined teach as required by the Uniform
<br /> �ammercial Cade� are as stated on�he first page a�this Deed of Trust.
<br /> FURTHER A55URANCES; ATT�RNEY-IN-FA�T. The foliowing prv�isions relating ta fur#her assurances and
<br /> attorney-in-fact are a part of this ❑eed vf Trust:
<br /> Further Assurances. At any time, and �ram time ta time, upvn request �f Lender, Trustor will make, execute and
<br /> deli�er, or wifi �ause tv �e made, exe�uted ar deli�ered, to Lender or to Lender's designee, and vuhen request�d by
<br /> Lender, cause �o be �iled, �-ecorded, refi�ed, or rerecvrd�d, as the cas� may be, at such times and in such affices
<br /> and pla�es a� Lender may d�em appropriate, any and a�l such m�rtgages, deeds of trust, se�urity de�ds, security
<br /> agreements, financing statements, �ont�nuation statements, fnstruments vf further assurance, Gertificates, and
<br /> other documents as r�nay, in the sale ❑pinion of Lender. �e necessary ar desirable in ord�r to effectuate, camplete,
<br /> perfect, continue, ❑r preser�e �1 y Trustar`s abligations under the Note, this Deed vf Trust, and the Reiated
<br />
|