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201704555
<br />DEED OF TRUST
<br />Loan No: 10022430 (Continued) Page 3
<br />replace the damaged or destroyed Improvements in a rn,,)nnor satisfactory to Lender. Lender shall, upon
<br />satisfactory proof of such expenditure, pay or reimburse Trustor from the. proceeds for the reasonable cost of
<br />rep -air or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which have not been
<br />disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of
<br />the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued
<br />interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds
<br />any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's
<br />interests may appear.
<br />LENDER'S EXPENDITURES. If Trustor fails JA) to keep the Property free of all taxes, liens, security interests,
<br />encumbrances, and other cla!ms, (B) to provide any required insurance on the Property, or (C) to make repairs to the
<br />Property then Lender may do so. If any action or proceeding is commenced that would materially affect Lender's
<br />interests in the Property, then Lender on Trustor's behalf may, but is not required to, take any action that Lender
<br />believes to be appropriate to protect Lender's interests. All expenses incurred or paid by I -ender for such purposes will
<br />then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment
<br />by Trustor. All such expenses will be -come a part of the Indebtedness and, at Lender's option, will (A) be payable on
<br />demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment
<br />payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of
<br />the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of
<br />Trust also will secure payment of these amounts. The rights provided for in this paragraph -shall be in addition to any
<br />other rights or any remedies to which Lender may be entitled on account of any default. Any such action by Lender
<br />shall not be Gonstrued as -curing the default so as to bar Lender from any remedy that it otherwise would have had.
<br />WARRANTY; DEFENSE OF TITLE. The following prov[sions relating to ownership of the Property are a part of this Deed
<br />of Trust:
<br />Title. Trustor warrants that., (a) Trustor holds good and marketable title of record to the Property in fee simple,
<br />free and clear of all liens and encumbrances other than those set forth in the Real Property description or in any
<br />title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection
<br />with this Deed of Trust, and (b) TrUStOT has the full right, power, and authority to execute and deliver this Deed of
<br />Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the
<br />title to the Property -against the lawful claims of all persons. In the event any action or proceeding Is commenced
<br />that questions Trusior's title or the interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the
<br />action at Trustor's expense. Trustor may be the nominal party in such proceeding, but Lender shall be entitled to
<br />participate in the, proceeding and to be represented in the proceeding by counsel of Lender"s own choirs, and
<br />Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time
<br />to permit such participation.
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all
<br />existing applicable laws, ordinances, and regulations of governmental authorities.
<br />Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shal'I
<br />survive the execution and delivery of this Dead of Trust, shall be continuing in nature and shall remain in full force
<br />and effect until :such time as Trustor's Indebtedness is paid in full.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing., and
<br />Trustor -shall promptly take such steps as may be necessary to defend the action and obtain the award. Trustor
<br />may be the nominal party in such proceeding, but Len ' der shall be entitled to participate in the proceeding and to be
<br />represented in the proceeding by counsel of its own choice., and Trustor will deliver or cause to be dellvered to
<br />Lender such instruments -and documentation as may be requested by Lender from time to time to permit such
<br />participation.
<br />Application of Net Proceeds. If all or any part of the Property is cond-emned by eminent domain proceedings or by
<br />any proceeding or purchase in lieu of condemnat-lon, Lender may at its election require that -all or any portion of the
<br />net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net
<br />proceeds of the award shall mean the award after payment of all reasonable costs, expenses, and attorneys" fees
<br />inGurred by Trustee or Lender in connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating
<br />to governmentel taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Fees and Charges- Upon request by Lender, Trustor shall execute such documents in addition to
<br />this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien on
<br />the Real Property. Trustor shall reimburse Lender for all taxes, as described below, together with all expenses
<br />incurred in recording., perfecting or continuing this Deed of Trust, including without limitation all taxes, fees,
<br />documentary starrips, and other Gharges for recording or registering this Deed of Trust.
<br />Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of
<br />Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on
<br />Trustor which Trustor is authorized or required to deduct frorn payments on the Indebtedness secured by this type
<br />of Deed of Trust; (3) a tax on this type of Dead of Trust chargeable against the Lender or the holder of the Note;
<br />and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by
<br />Trustor.
<br />Subsequent Taxes. If any tax to which this section applies is enaatefi subsequent to the date of this Deed of
<br />Trust, this event shall have the same effect as an Event of Default, and -Lender may exerci-se any or all of its
<br />available remedies for an Event of Default as provided below unless Trus -Lor either (1) pays the tax before it
<br />becomes delinquent-, or 12) contests the tax as provided above in the Taxes and Liens section and deposits with
<br />Lender cash or a sufficient corporate surely bond or other seaurity satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a
<br />sac;urity agreement are a part of this Deed of Trust:
<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property
<br />constituteS fixtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code
<br />as amended from time to time.
<br />Security Interest. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect
<br />and continue Lender"s security interest in the Personal Proper -Ly. In addition to recording this Deed of Trust in the
<br />real property records, Lender may, at any time and without further authorization from Trustor, file executed
<br />counterparts, copies or reproductions of this Deed of Trust as a financing statement. Trustor shall reimburse
<br />Lender for all expenses incurred in pertecting or continuing this security interest. Upon default, Trustor shall not
<br />remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall as-semble any
<br />Persona[ Property not affixed to -the Property in a manner and at a place reasonably convenient to Trustor and
<br />Lender and make it available to Lender within three (3) days after receipt of written demand from Lender to -the
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