|
2� 17�2558
<br /> DEEC3 �F 1�RUST
<br /> ���ntirlued� Page 4
<br /> any proceeding or purchase in lieu af condemnation, Lender may at its efection require that all vr any pvrtivn o��he
<br /> net proceeds of �he award be applied to the I ndebtedness vr the repair or restoratinn o� th� Property. The net
<br /> proceeds of the award shal� mean �he award after payment af all reasonable costs, expenses, and a��orney°s' f��s
<br /> incurred by Trus�ee or Lender in connectivn with the condemnation.
<br /> IMPaSITiC71V DF TAXES. FEES ►�ND CHARGES gY GDVERNMENI'AL AUTH�RITIES. The following pro�is�ans relating
<br /> to g���rnmental taxes, fees and �harges are a par�of this Deed of Trust:
<br /> �urrent Taxes, Fees and Charges. Upon reques� by Lender, Trustor shaff exe�ute such documen�s in additi�n ��
<br /> this Deed of Trust and tak� whate�er other action is reques�ed by Lender to per�ect and continue Lender's lien on
<br /> the R�af Prvper�y. Trustor shal! reimburss Lender �or all fiaxes, as described l�e�ow, together with all expenses
<br /> incurred in �ecording, per�ecfiing or cvntinuing this Deed of Trust, incfuding without limitativn all taxes, fees,
<br /> dacumentary stamps, and ath�r charges �ar recording or regis�ering this Deed of Trust.
<br /> Taxes. The fvllvwing shafl constitute taxes to which this se�tion applies: {'�� a specifi� tax upon this type o�
<br /> Deed o� Trust or upan all or any part o� �he lndeh�tedness secured by this Deed of Trus#; �Z� a spe�i�fic tax on
<br /> Trustor which T�us�ar is authorized or rs�uir�d to deduct from paymen�s an the Indebtedness secured �y this�ype
<br /> of Deed o�Trust; 43� a tax on this type v�De�d o�Trust chargeable agains�the Lender❑r the halder o�the Note;
<br /> and �4� a spe�ific tax on all or any port�vn vf the Indet�tedness or on payments af principal and inter�st made hy
<br /> Trustvr.
<br /> Suhsequent Taxes. I� any tax to which this section appfi�s is enacted subsequen� ta the date of this D�ed of
<br /> Trust, this e�ent sha[[ ha�e the same effect as an E�ent vf Defauft, and Lender may Ex�rCiSe any or aiI o� its
<br /> a�ailab�e remedies for an E�snt o� Default as pro�ided below unless Trustor e�ther �1} pays the tax be�ore it
<br /> becomes delinquent, vr �2y cont�sts the tax as pra�ided abo�e in the Taxes and Liens sectian and depos�ts with
<br /> Lender cash or a suffi�ien�corporate surety�aond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT; FINAN�IN� STATEMENTS. The fv��vwing �ra�isions relating to this ❑eed af Tru�t as a
<br /> se�urity agreement a�e a part of�his Deed of Trust:
<br /> Security Ag�eement. This ins�rument shall constitut� a 5�curity Agreement ta �he ex�ent any o� the Property
<br /> Gonstitutes fix�ures, and Lender shall ha�e all of�he rights �f a secured party under the Llniforrr-� Comm�rcial Code
<br /> as �mend�d from time to time.
<br /> 5e�ur�t� fnfierest. Upon request by Lender, Trustar shall take whate�er ac�ion is requested by Lender to p�rf�ct
<br /> and continue Lender's security interest in the Rents and Personal Proper�y. �n addition to recording �his �eed o�
<br /> Trust in �he reai prvper�y records, Lend�r may, at any time and without fur�her authorizativn �rom Trus�or, file
<br /> �xe�uted c�unte�parts, copies ar reproductians ❑f this ❑eed af Trust as a �inan�ing staterraent. Trus�ar shall
<br /> reimburse Lender far all expenses incurred in per��cting or cvntinuing this security ir�terest. Up�n d�fiault, Trustor
<br /> shall nvt remo�e, se�er or de�ach the Persvnal Praperty frvm the Prvperty. �pon default, Trustor sha�� assemble
<br /> any Persanal Property not a�fixed �o the Property in a manner and at a p�ace reasonably c�n�enient to T�us�:ar and
<br /> Lender and make it a�ailahle to Lender wi�hin three �3y days after receipt o� w�itten demand �rom Lend�r �o �he
<br /> extent permitted by appficahfe �aw.
<br /> Addresses. The mailing addresses �� T�ustor 4de�tar} and Lender �secured partyj from which in#armativn
<br /> concerning th� security interest gran�ed hy this Deed ❑f Trust may be obtained 4ea�h as required by the lJnifarm
<br /> Commercial Code� are as s�ated on the first pag�of this Deed v�Trust.
<br /> FURTHER ASSURANCES; A�"TC�RNEY-IN-FACT. Th� fa�l�wing prv��sions relating �o fur�her assurances and
<br /> attvrney�in-fa��are a part o#this Deed of Trus�:
<br /> Fur#her Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, exe�ute and
<br /> deli�er, ❑r uviii cause tv be made, executed or deli�ered, to Lender❑r�o Lender's designee, and when requested by
<br /> Lender, cause to be fii�d, recorded, �efiled, or rerecorded, as the �ase may be, at such �imes and in such �ffices
<br /> and places as Lender may deer� appropriate, any and a�l such martgages, deeds of�rus�, security dee�s, sacuri�y
<br /> agr�ements, financing statements, continua�ion sta�ements, instruments o� further assurance, certificates, and
<br /> ❑ther documents as may, in the s��e opinivn of Lender, be necessary or desirable in ord�r to e�fectuat�, �ornpfete,
<br /> perfect, continue, or preser�e �1 y Trustar's oh�igat�ons under the No�e, this Deed of Trust, and the Related
<br /> �ocuments, and {�} the liens and security interests creat�d by this ❑eed of Trus� as firs� and prior [iens on the
<br /> Praperty, whether now owned or hereaf�er acquired �y Trustor. Unless prohibited by law ar Lender a�rees�o the
<br /> contrary in wri�ing, �rustor shaii re�mburse Lender �or all costs and expenses incu�red in cvnnection �vith �he
<br /> matters referred to in�his paragraph.
<br /> At�nrney-in-Fa�t. I�T�-ustar fails ta da any of the �hings re�erred to in the preceding paragraph, L�nder ma�� do so
<br /> for and in th� nam� a�Trus�or and at Trustor's expens�. For such purposes, Trustor hereby irre�ocab�y appoin�s
<br /> Lender as Trus�vr's attarney-in-fact fvr th� purpase of making, executing, de���er€ng, filing, recording, and daing all
<br /> other things as may be n�cessary or desirable, in Lender's sole opinivn, t❑ a�ccomplish the mat�ers referred to �n
<br /> the preceding paragraph.
<br /> FULL PERFQRIVrANCE. !#Trustor pays aff the lndebtedness, inc�uding without limita�ion all future ad�ances, when due,
<br /> and othe�-wise perfvrms a!I the abligations imposed upon Trustar under this Deed of Trus�, Lender shaff �xecute and
<br /> defi��r ta T�ustee a r�ques� �or �ull �e�vn�eyance and shall execute and def��er t� Trusfior suitable s�atem�nts of
<br /> termination o� any financing statem�nt on �ile e�idencing Lender's securi�y interest in the Rents and the Personal
<br /> Proper�y. Any rec�n�eyance fe� required by law sha�� be paid by Trustv�, if permitted by applicabfe law.
<br /> EVENTS �F DEFAULT. Each o�the following, at Lender's option, shall constitute an E�enfi �f Default under this �eed
<br /> of Trust:
<br /> Payment❑efault, Trust�r�ails to make any payment when due under the lnd�htedness.
<br /> 4ther Defaults. Trus�ar fails ta comply with or tv per#orm any other �erm, obligation, co�enant or condi�ian
<br /> cvntained �n this Deed of Trust or in any of the Re€ated ❑ocuments or to cvmply r�vith �r to per�orm any� term,
<br /> ohligation, co�enant or condition con�ained in any other agreement betw��n Lender and Trustor.
<br /> Comp�iance Default. Failure fio comp�y w�th any ❑�her �erm, obligation, ca�enant or conditivn can�a�ned in th�s
<br /> Deed of Trust, the No�e or in any of the Related Documents.
<br /> Defauit vn C3ther Paym�ntse Failure of Trustor within th��ime required by this Deed af Trust to make any payment
<br /> for taxes❑r insurance, ��any other payment ne�essary to pre�ent f�ling vf ar to effect discharge vf any �€en.
<br /> Default in Fa�vr of Third Parties. 5hould Grantvr default under any loan, extensivn of credit, se�urity agreement,
<br /> purchase or sales agreement, o� any other agreemen�, in �a�ar of any other creditor �r person that may materially
<br /> affect any of Grantvr's property ❑r Grantor's ability �❑ repay the Indebtedness or Grantor's ahili�y to p�r�orm
<br /> Grantor's ob�igations under this ❑eed o�Trust vr any of�he Rela�ed Documents.
<br /> False Statements. Any warran�y, representatian ar s�at�ment made or furnished to Lender by Trustar or on
<br /> Trustor's beha�f under this Deed of Trust or the Related Documents is false �r misleading in any material respe�t,
<br /> either now or at the time made�r furnished or be�vmes false or mis��ading at any time thereaf�er.
<br /> ❑efective Collat�ra�iza#ion, �his Deed of Trust or any of the Rela�ed Documents ceases tn be in fuf! farce and
<br /> e��rect {including �aifure of any colla�eral docum�nt to create a �a�id and perfiected securi�y interest or lien} at any
<br /> � `
<br /> �
<br /> a
<br />
|