|
2� 17��341
<br /> DE�Q �F TRUST
<br /> �Cont�nu�d} Page 4
<br /> any procQeding or purchas��n lieu of condemnation, Lender rn���t i#s elsctivn require that a�l ar any partian af th�
<br /> net proceeds �f the award be appl�ed to the Indebtedness or the repair or restoration of the Property. 7he net
<br /> pr�eeeds af tt�e awa�d sha!! mean the award afiter payment o�ali reasanabls cvsts, expenses, and attorneys'fees
<br /> �ncurred by T�ustee o�Lender in cannectinn with the condemn�tion.
<br /> IMP�]51T�L�N �F T�4�CES, FEES AND CHARGES BY G�VERNMENTAL AUTHC�RiT1ES. The following prvvisions relating
<br /> ta gvvernmental taxes,fees and char�es are a part of this Deed of Trust:
<br /> �urrent Taxes, Fe�es and Charg�s. Upon requ�s#by Lender, Trustor shall execute su�h do�uments in additian to
<br /> tnis ❑eed of Trust and take whate�er other action is requested by Lender to �ertect and con�inue Lender�s lien on
<br /> #he Reai Prop�rty. Trustor sha11 reimburse Lender fnr ali taxes, as described below, #ogether with al� expens�s
<br /> incurred in recording, per�ecting ar continuing this Dee� af Trus�, including without lim�tation ali taxes, fees,
<br /> documentary starnps,and other c�arges�or�ec�rding or re��stering this Deed of Trust.
<br /> Taxes. The fol�owing shall �vnstitute taxe� to which th�s sect�an app�ies: ��I� a speci�i� tax upon this type v#
<br /> Deed of Trust or upon all or an� part o�the �nd�a#edr�ess secured by this Deed of Trust; ��} a spe�ifiC tax on
<br /> Trustvr which Trusior is au#hor��ed or required to deduct from payments on#he lndebtedness�ecured by this type
<br /> af❑e�d❑�Trust; �3} a t�x on this type of De�d of Trust chargeable agatnst the Lender vr the hoider of�he Credit
<br /> Agreement; and t4} a spec�fi� tax on all o� any portion o� the �ndebtedness vr on payments of prir��ipa! and
<br /> inter�st made by Trus#or.
<br /> 5ubsequent Tax�s. �f any tax to which this sectit�n applies is ena�tsd subsequerrt ta the date v��his D�d t��
<br /> Trust, this e�ent shall ha�e the sam� e�fect as an E�rent of Detault, and �ender may ex�rr�se any vr all af its
<br /> a�ailabl$ remedi�s �ar an E�ent of C�efaul# as �ravid�c! below unless Trustvr e+ther �'I� pa�s the tax befQre it
<br /> beoat�r�es delir�q�ent, or [�} contes#s the��x as pro�ided abo�e in the T�xes and Liens sectian and deposits with
<br /> L�n�er cash ar a suff cient r�rpvrate surety bond vr vther security satisfactvry tv Lender,
<br /> SECUFtITY r4GREEM�NT; FINA�VClN� STAT�NIENTS. The following �rovisions relating ta this Deed of Trust as a
<br /> security agreement are a pa�t of this Deed of Trust:
<br /> Security Agreement. This instrumen# shall canstitute a Security Agreement tv th� extent any of the Property
<br /> cvnsiitutes fxtures, and Lend�r shali ha�e al�o�the rights of a secured party under the Unifarm Commercial Code
<br /> as amended fram time to time.
<br /> 5ecurity ln#erest. Upon request by Lend�r, Trustvr sha�� take whate�er action is requested by Lender t� perFect
<br /> and continue Lender's seGurity interest in th�Persona! Property. ln addition ta re�ording this Deed�f Trust in the
<br /> real property recards, Lender may, at any tim� and without further authari�a#i�n frvr� Trus#a�, file �xecuted
<br /> counterparts, copies vr repraductions of th�s �]eed �t �'r�ust a� a �nan�ing statem+ent. Trustor shall reimburse
<br /> �.ender for a�l �xper�ses incurr�d �n pe�#scting vr continuing this security interest. Upon default, Trus�or shal� not
<br /> r�m�ve, sever or deta�h the Personal Praperty fram the Praperty. Upan de�ault, Trustv� shall assemble any
<br /> Persvnal Property not af�ixed tv �he Prvper#y in a mann�r �nd at a place reasona�fy con�enient tv Trustor and
<br /> Lender and make it a�aiiab�e to Lender within three �3} days after r�ceipt af wr�tten demand trvm Ler�der tQ the
<br /> extent permitted by applicable law.
<br /> Addresses. The mailing addresses of Trusto� �debtor� and Lender �se�ured party] f�om which �nt�rma�ion
<br /> con�erning ihe security interest granted by this De�d of Trust may be abtained (each as reQuired b� th� Unifo�m
<br /> Comm�rcia�Code�are as stated�n the tirs#page of thi��3eed of Trust.
<br /> FURTHE�t ASSUR►4NCES; aTTDR�VEY-IN-FACT, The foliawing provisians relating ta further assurances and
<br /> attorney-in-�'act are a pa�t of this �eed o�Trust:
<br /> Further Assurances. At any time, and fram time ta tfrrMe, upvn rec�uest ot Let�der, Trustvr wil! malts, exec�te ar�d
<br /> deli�er, vr wi�l c�use to be r�ade,ex�cuted vr deli�red, #d Lender vr���.$nder's designee,and when request�d by
<br /> Len�er, r.�use tv be fi!ed, reoard�d, refi l ed, ar r�;rec�orded, as the c�se rrray b�, at such#i rr�s and i n such af�ir,es
<br /> and pl�oes as Lender may�feem appropriate, any and all such mortgages, deeds vf trust, secur�ty deeds, security
<br /> 2�greemen#s, financing statemQnts, oontinuatian statements, instruments o� further assuranoe, ce�#ifi�tes, and
<br /> ather dacum�ents as may, in the s�o�e apin�an of L�na�er, b�+�ssar�or desi�-ab�e�r�order to e�f�ctua#e, complete,
<br /> ps�`ect, c.�rrti�rue, or pr�serve ��) Trustvr's vt�ig2,tivns und�r the�redi#Agreement,this Qeed af Trus�, and the
<br /> R�ated �.�me�#s, an�f ��} the liens and security interests cr�ted by this Deed v� Trus# on the Prvperty,
<br /> wheth�r nvw owned or hereafter aoquired by Trust4r. Unless prahibited by law ar L�nder agrees to�he nontrary in
<br /> writing, Trustor shall reimburse Lender fiar all costs and expenses incurred in oonne�tian witt�#he ma#t��s ref�rr�d
<br /> to in this paragraph.
<br /> Attorney-in-Fact. If Trus�or#ails tv do any of the things re�erred tv in the preceding paragraph, L�nde�rray da sa
<br /> fvr and in the name a�Yrustor and�t T�ustor's expense. Far such purpvses, YruStv�h�reby i�re�ocai�lJ�appoin#s
<br /> Lender as Trustor's attarney-in-tact�ar the pur�vse af making, exe�uting,deii�erin�,fiiing, reoording,and doing all
<br /> other thtngs as rr�y be n�c,�essary a�desirable, in Lende�'s sale apinion, to accvmplish the matters re#erred to in
<br /> the pr�cedi ng paragraph.
<br /> F�LL PERF�FtlNANCE. �f 7rust�r�ays a�l the Indeb�edness when due,terminates the credit iine account, and vtherwise
<br /> pe�farms ali the obligations imposed upvn Trustor under�his Deed c�f Trust, Lender shall execute and deli�er to Trustee
<br /> a request €or ful! reovn�eyanoe and shall execute and deli�er to Trust�� suitab�e statements of termination of any
<br /> financing statement vn �le e�idencing Lender's secu�i#y inte�est in the �eRts and the !'s��so�1 property. Any
<br /> recon�eyance fee requ�reaf by iaw sha�l be pa�d by Trc�st4r,if perr���ted by app�i�ab�e law.
<br /> EVENTS C]F DEFAULT, Trustor wilf be+n default unc�er this �eed❑f Trust if any o€the�ol#�w�r�g happen: {A} Trus#or
<br /> commits fraud c�r makss a mat�ria� misrepresent�t�arr a#any tirne i� connectiQn with the Credit Agreement. This can
<br /> inc�ude, �nr exa�np�e, a f�lse statement about Trusto�'s income, ass�ts, liabil+#ies, or any ather aspects of Trusior's
<br /> �nanciai c�ndi#ion. �B� Trustar does nat meet#he repayment terms af the Credit Agreement. �C} T�ust�r's action or
<br /> ina�tion ad�erseiy affec#s the callateral vr Lender's rights in the co�laterai. This can inc�ude, fo� exam��e, �ailure t�
<br /> maintairr required insurance,waste or dest�ucti�e use o1`the dwelling, �ailure tv pay taxes,c#eath ot all persvns�iable an
<br /> the �ccount, transfer ofi tttle or sale of the dwe#I�ng, creativn o� a senivr lien vn the dwelling withaut Lender's
<br /> permissfon,for�c�v�ure by#he hvlder�f another lien,ar the use a�funds ar the dwelling for proh+bited purposes.
<br /> RI�NT� AND F�EME�IES�N DEFAULT. ��an Event ot D�taul#vccurs under this Deed of Trust, at any time fihereafter,
<br /> Trustee or Lender may ex�rc�se an��ne or more of the�ollvwing rights and remed�es:
<br /> Acceleration Upon Defau�t; r4ddit��na�Rem�d�Qs. If any Event af De�ault ocGurs as per the terms c��th�:Gredit
<br /> Agreemen�s�cured h�reby, Lender may declare all lndebtedness secured by this C]ee�f of Trust ta be due and
<br /> payable and the same sha�l thereupon become due and payable without any pres�ntment,demand, protest ar
<br /> nvtice of any kind. Thereafter,Lender may:
<br /> �a} Either in persan or by agent, with vr without bringing any actioh or praceeding, or �y a r�i��:r
<br /> appvinted by a court and without regard tv the adequacy a�its security, ent�r upon and take pvssessian
<br /> of the Property,ar any part ther�vf, irr its awn narr�a�'in the name of Tn.�stee, and dv ar�y acts which it
<br /> deerr�nec�ssary ar d�sir�b�e to preserve the value, marke�ability vr r�ntah�lity a�the Property,vr part af
<br /> the Pr�per�y or interest in th�Pr�perty; increase the incame fram the praperty or prateCt the seCuri#y of
<br /> the Rroperty; an�l, with ar withou# taking possession of the Property, sue for or otherwise colfs�t the
<br /> rents, issues�nd prafits o�the Prraperly, in�ludin� thvs+e pas#due and unpaid, and appiy the same, fess
<br />
|