|
2� 17� 1771
<br /> DEED �F TRUST
<br /> ��ontinuedj Page 4
<br /> to permit such participation.
<br /> �ompl�ance With Laws. Trustor wa�rants #hat the Property and Trustar's use of the Property compli�s with all
<br /> existing app�icable laws, ordinan�es, and regulations of ga�ernmental autharities.
<br /> Sur�i�al of Representations and Vllarranties. Ali representations, warranties, and agreements made by Trustor in
<br /> this ❑eed ❑f Trust shall sur�i�e the executivn and d�liuery of this Deed vf Trust� shall he continuing in nature� and
<br /> shall remain in ful�farce and effect until such time as Trustor`s Indehtedness shall be paid in full.
<br /> C�NDEMNATI�N. The fvllowing p�o�isions rela#ing ta cvndemnati�n proceedings are a part af this ae�d of Trus#:
<br /> Proceedings. If any praceeding in condemnativn is filed, Trustor shall pramptly notify Lend�r in writing, and
<br /> Trustor shall promptly take such steps as may be necessary to defend the action and vhtain the award. Trustor
<br /> may be the nominal party in su�h proceeding, bu�Lender shall he entitled to participate in the proceeding and to be
<br /> represented in �he pr�c�eding by counsel of its own choice, and Trustor wiil de�i�er ar cause ta be deli�ered to
<br /> Lender such instruments and documentativn as may be requested by Lende�r #rom time to time to permit such
<br /> participation.
<br /> Application of N�t Proceeds. �f all ❑r any part o#the Property is cnndemned by eminent damain prviceedings or hy
<br /> any proGeeding❑r purchase in lieu of condemnation, Lender may at its electian require that all ar any portion of the
<br /> net pr�ce�ds of the award be app�ied to #he Indeb#edness ar the repair or restorativn ❑f the Property. The net
<br /> proceeds of the award shali mean the award after payment of all reasonable costs, expens�s, and a##orneys' �ees
<br /> incurred by Trustee ar Lender in conne��ion with the condemnativn.
<br /> IMP�S�T��N �F TAXES, FEES AND CHARGES BY G�VERNIVIENTAL AUTH�RITIES. The �ollowing pro�isions relating
<br /> to go�ernmental taxes. fees and charges are a part❑f this Deed of Trust;
<br /> Curren#Taxes, Fees and Ch�rges. LJpon request by Lend�r� Trustor shall execute such documents in addition to
<br /> this Deed of Trust and take whate�er other action is reques#ed �y Lender to perfec�and continue Lender's lien on
<br /> the Real Pr�perty. Trustar shall reimburse Lender for al! taxes, as d�scribed below, t�gether with all expenses
<br /> incurred in recording, perfecting or c�n#inuing this aeed of Trust. inciuding without limitati�n all taxes. fees,
<br /> documentary stamps, and other charges for recvrd�ng❑r registering this ❑eed of Trust.
<br /> Taxes. The following shall constitute taxes to whi�h this section applies: �1} a specific tax upon this type of
<br /> Deed vf Trust or upvn all or any part of the Indebtedness secured by this ❑eed vf Trust; �2y a specific tax an
<br /> Trustor which Trustor is authorized or required to deduct from payments ❑n the Indsbtedness secured by this type
<br /> of DQed of Trust; �3y a tax on this type vf Deed v�Trust chargeable against the Lender vr the hvlder of the Not�;
<br /> and t4y a specific tax on all or any p�rtion vf the Indebtedness vr on paym�nts of principal and interest made by
<br /> Trustor.
<br /> Subsequent Taxes. If any tax to which this section applies �s enacted subsequent #o the date D� �hE5 Deed vf
<br /> Trust, this e�ent shall ha�e the same e�fect as an E�ent of aefault, and Lender may exer�ise any or al# of its
<br /> a�ailable remedies #vr an E�ent of Default as pra�ided below unless Trustor either �1 f pays the tax before it
<br /> be�omss delinquent, or {2y contests the tax as prv�ided abv►►e in the Taxes and Liens section and depvsits with
<br /> Lend�r cash or a sufficient cvrporate surety b�nd ar other security satis#actory to Lender.
<br /> SECURITY AGREEMENT; FINANCING STATEMENTS. The follawing pro�isions relating ta this ❑eed o� Trust as a
<br /> secur�ty agreement are a part of this Deed of Trust:
<br /> Security Agreement. This instrument shall constitute a Security Agreement to the sxtent any vf the Property
<br /> constitutes fixtures, and Lender shall ha�e a�i of the rights of a secured party under the Uniform Cammerciat Cod�
<br /> as amended from time to time.
<br /> Security Inte�est. Upon request by Lender, Trus�or shall take whate�e� action is requ�sted by Lend�r tv perfect
<br /> and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed vf
<br /> Trust in the real property �e�ards. Lend�r may, at any time and wi#hout further authorization #rom Trustar, file
<br /> exe�uted counterparts, copies vr reproductions of this Deed of Trust as a financing statement. Trustor shali
<br /> reimburse Lender far all expenses incurred in perfecting ❑r continuing this se�urity interest. Upon default, Trustor
<br /> shall nvt remo�e. se�er vr detach the Personal Property from the Property. Upon default, Trustor shall assemble
<br /> any Persvnal Prvpe�ty not affixed to th� Property in a manner and at a place reasvnably con�enient to Trustor and
<br /> L�nder and make it a�ail�ble to L�nder within three �3j days after receipt of written demand frvm Lender t� the
<br /> extent permitted by applicable law.
<br /> Addresses. The mailing address�s of Trus#or �debtor� and Lender tsecu�ed party� from whi�h information
<br /> cvncerning the se�urity interest granted hy this D�ed vf Trust may be �btained teach as required by the lJnifarm
<br /> C�mmerc�al Code� are as stated vn the first page of this Deed of Trust.
<br /> FURTHER ASSURANCES: ATTaRNEY-IN-FACT. The fv�iowing pro�isions relat+ng to furth�r assuran�es and
<br /> a�tvrney-in-fact are a part vf this Deed vf Trust:
<br /> Further Assurances. At any time, and fr�m time tv time, upon request af Lend�r, Trustvr will make, exeGute and
<br /> deli�er, vr will cause tv be made, exe�uted❑r deli�ered,to Lender or to Lender's designee, and when requested hy
<br /> Lender, �ause t❑ k�e #iled. recorded, refiled, or rerecorded. as the case may be, at such t+mes and in such v€#ices
<br /> and places as Lender may deem appropriate, any and all such m�rtgages, deeds of trust, security deeds, security
<br /> agreements. financing statements� continuativn statements. instruments of further assurance, certificates, and
<br /> other documents as may, in the sole opini�n of Lender, be necessary or desirable in order tv effectuate, cvmplete,
<br /> per#e�t, continue, or preser�e ��j Trustor's o�iigations under the Note� this ❑eed of Trust, and the Related
<br /> aocuments, and �2� the liens and security interests created by this Deed of Trust on the Property, whether nvw
<br /> owned �r hereafter acquired by Trustor. Unless prohibited by law or Lender agr�es to the cantrary in writing,
<br /> Trustor sha�l reimburse Lender for all costs and expenses incurred in connectivn with the matters referred to in this
<br /> paragraph.
<br /> Attorney-in-Fact. If Trus#or fails tv do any of the things refierred tv in the preceding paragraph, Lender may do so
<br /> for and in the name of Trustor and at Trustor's expense. For such purpvses, Trustor here�y irre�ocahly appoints
<br /> Lender as Trustor`s attarney-in-fact far the purpase of making, ex�cuting� deli�er+ng. #iling, recording, and doing aii
<br /> ather things as may be necessary or desirable, in Lender's svl� opinion, t❑ accampl�sh the matters rsferr�d to in
<br /> the preceding paragraph.
<br /> FULL PERFt�RIVIANCE. If Trustor pays all the #ndebtedn�ss, including wi�h�ut limitation all future ad�ances. when due,
<br /> and otherwise performs all the ❑bligativns impvsed upon Trustor under this ❑eed of Trust, Lender shall execute and
<br /> deli�er tv Trustee a request #or full recan�eyance and shall execute and deli�er to Trustor suitahle statements ❑f
<br /> termination of any financing statement ❑n file e�idencing Lender's se�ur}ty �nterest in the Rents and #h� Personal
<br /> Prvperty. Any recon�eyance fe� required by law shall be paid hy Trustor, if permitted by appiicahie law.
<br /> EVENTS �F DEFAULT. Each �f the follawing, at Lender's �ption, shall constitute an E�ent of Default under this �eed
<br /> af Trust:
<br /> P�yment Default. Trustor fa'rls to make any payment when due under the Indebtedness.
<br /> Other Defaults. Trustor fails to �omply with or tv perfvrm any other term. obligat�on, co�enant vr Gondi#ion
<br /> cantained in this ❑eed v� Trust or in any af the Related Documents or to camply with vr to perfvrm any term,
<br />
|