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04-004 ®us bancorp 2013 (rev. 1.9 - 0512017)
<br />Page 8
<br />201703789
<br />7.2 Time of the Essence. Time is of the essence with respect to payment of the Obligations, the performance of all
<br />covenants of Trustor and the payment of taxes, assessments, and similar charges and insurance premiums.
<br />7.3 Subrogation. Beneficiary will be subrogated to the lien of any deed of trust, mortgage or other lien discharged,
<br />in whole or in part, by the proceeds of the Note or other advances by Beneficiary, in which event any sums
<br />otherwise advanced by Beneficiary shall be immediately due and payable, with interest at the default rate set forth in
<br />the Loan Documents from the date of advance by Beneficiary to the date of payment by Trustor, and will be one of
<br />the Obligations secured by the Deed of Trust.
<br />7.4 Choice of Law. Creation, perfection, priority, enforcement and foreclosure of the Deed of Trust and the liens
<br />and remedies hereunder will be governed by the laws of the state in which the Mortgaged Property is located. For
<br />all other purposes, the choice of law specified in the Loan Documents will govern.
<br />7.5 Severability. Invalidity or unenforceability of any provision of the Deed of Trust shall not affect the validity or
<br />enforceability of any other provision.
<br />7.6 Copies; Entire Agreement; Modification; Demand Obligations. Trustor hereby acknowledges the receipt of
<br />a copy of the Deed of Trust, together with a copy of each promissory note secured hereby, and all other documents
<br />executed by Trustor in connection herewith. The Deed of Trust is intended by Trustor and Beneficiary as a final
<br />expression of the Deed of Trust and as a complete and exclusive statement of its terms, there being no conditions to
<br />the full effectiveness of the Deed of Trust. No parol evidence of any nature shall be used to supplement or modify
<br />any terms.
<br />IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS DEED OF TRUST SHOULD BE
<br />READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING AND SIGNED BY THE PARTIES
<br />ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS
<br />WRITTEN CONTRACT MAY BE LEGALLY ENFORCED. THE TERMS OF THIS DEED OF TRUST
<br />MAY ONLY BE CHANGED BY ANOTHER WRITTEN AGREEMENT. THIS NOTICE SHALL ALSO
<br />BE EFFECTIVE WITH RESPECT TO ALL OTHER LOAN DOCUMENTS NOW IN EFFECT BETWEEN
<br />TRUSTOR AND BENEFICIARY. A MODIFICATION OF ANY LOAN DOCUMENT NOW IN EFFECT
<br />BETWEEN TRUSTOR AND BENEFICIARY, WHICH OCCURS AFTER RECEIPT BY TRUSTOR OF
<br />THIS NOTICE, MAY BE MADE ONLY BY ANOTHER WRITTEN INSTRUMENT. ORAL OR IMPLIED
<br />MODIFICATIONS TO SUCH LOAN DOCUMENTS ARE NOT ENFORCEABLE AND SHOULD NOT BE
<br />RELIED UPON.
<br />IN THE EVENT ANY OF THE OBLIGATIONS SECURED HEREBY IS PAYABLE UPON DEMAND,
<br />NEITHER THE DEED OF TRUST NOR ANYTHING CONTAINED HEREIN SHALL BE DEEMED TO
<br />ALTER, LIMIT, OR OTHERWISE IMPINGE UPON THE DEMAND CHARACTER OF SUCH OBLIGATIONS.
<br />7.7 Joint Liability; Successors and Assigns. If there is more than one Trustor, the liability of Trustors will be
<br />joint and several, and the reference to "Trustor" shall be deemed to refer to each Trustor and to all Trustors. The
<br />rights, options, powers and remedies granted in the Deed of Trust and the other Loan Documents shall extend to
<br />Beneficiary and to its successors and assigns, shall be binding upon Trustor and its successors and assigns, and shall
<br />be applicable hereto and to all renewals, amendments and/or extensions hereof.
<br />7.8 Indemnification. Except for harm arising from Beneficiary's or Trustee's willful misconduct, Trustor hereby
<br />indemnifies and agrees to defend and hold Beneficiary and Trustee harmless from any and all losses, costs,
<br />damages, claims and expenses (including, without limitation, attorneys' fees and expenses) of any kind suffered by
<br />or asserted against Beneficiary or Trustee relating to claims by third parties arising out of the financing provided
<br />under the Loan Documents or related to the Mortgaged Property (including, without limitation, Beneficiary's failure
<br />to perform its obligations relating to Environmental Matters described in Section 2.8 above) or the exercise by
<br />Beneficiary or Trustee of any of their respective powers, rights and remedies under the Deed of Trust. This
<br />indemnification and hold harmless provision will survive the termination of the Loan Documents and the
<br />satisfaction of the Deed of Trust and Obligations due Beneficiary.
<br />7.9 Notices. Notice of any record shall be deemed delivered when the record has been (a) deposited in the United
<br />States Mail, postage pre -paid, (b) received by overnight delivery service, (c) received by telex, (d) received by
<br />telecopy, (e) received through the internet, or (f) when personally delivered.
<br />7.10 Expenses and Attorneys' Fees. To the extent permitted by applicable law and in addition to those costs and
<br />expenses payable under the Loan Documents, all costs, receiver, trustee and attorneys' fees and other disbursements
<br />(including, without limitation, costs of procuring title commitments, title insurance, title searches, appraisals,
<br />environmental tests, reports and audits) incurred in connection with the preparation, administration, execution,
<br />285241, vers. 3
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