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<br />89- 101703
<br />'Lender to protect the security of the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and (d) all
<br />present and future indebtedness and obligations of Borrower (or any of them if more than one) to Lender whether direct. indirect.
<br />absolute or contingent and whether arising by note, guaranty. overdraft or otherwise. The Note, this Deed of Trust and any and all
<br />other docuents that secure the Nola or otherwise executed in connection therewith. including without limitation guarantees, security
<br />agreements and assignments of leases and rents, shall be referred to herein as the "loan Instruments".
<br />Trustor covenants and agrees with Lender as follows:
<br />1. Psynmf of tndstiledness. All Indebtedness secured hereby shall be paid when due.
<br />2. TM*. Trustor is the owner of the Property, has the right and authority to convey the Property, and warrants that the lien
<br />created hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and
<br />delivered to Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any
<br />contract or other obligation to which Trustor is subject.
<br />3. Taxes, Assetaments. To pay before delinquency alttaxes, special assessments and all other charges against the Property
<br />now or hereafter levied
<br />4. irteuran e. To keep the Property insured against damage by fire, hazards included within the term "extended coverage", and
<br />such other hazards as Lender may require. in amounts and with companies accepuabte to Lender, naming Lender as an additional
<br />named insured, with loss payable to the Lender. In case of loss under such policies, ttte Lender is authorized to adjust, collect and
<br />compromise, all claims thereunder and shalt have the option of applying all or part of the insurance proceeds (i) to any indebtedness
<br />secured hereby and in such order as Lender may determine, (ii) to the Trustor to be used for the repair or restoration.of the Property
<br />or (iii) for any other purpose or object satisfactory y; Lender without affecbrrg the lien of this Deed of Trust for the full amount secured
<br />hereby before such payment ever took place. Any application c! p°viceeds to indebtedness shall not extend or postpone the due
<br />date of arty paymp:!ts under the Note, or cure any default them--under ar'hereunder.
<br />5. G- mnw. i mzn written demand by Lender, Trustor shall pay to Lender, in such manner as tender may designate, sufficient
<br />sums td r-ir tE ie L�:�3r to pay as they becrwe dur- one or more of the folfa-nirtg; (i) all taxes, assessments and outer charges against
<br />the ProWe . (ii) the premiums on the praparty insurance required hereu�cfer, and (iii) the premiums on any mortgage insurance
<br />required t-? Lender.
<br />6. WAIntanance, Repairs and Compliance with Laws. Trustor shall keep. t-ea: Fogerty in good condition and repair; shall
<br />promptii�, repair, or replace any -r.,brovement which may be damaged or Crr"Tr"Jo�, shall not commit or permit any waste: or
<br />deterioration of the Property: sh&I.not remove, demolish or substantially allm,. oc tie improvements on the Property; shall mist
<br />commit suffer or perm;; any act to be done in air t-:3on the Property in viol a "�? - , spy law, ordinance, or regulation; and shall pay and
<br />promptly discharge at Truster's cost and expense all liens, encumbrances::; rJ.charges levied, imposed or assessed against the
<br />Properc; cr any part thereof.
<br />7.: 'Eminent Domain. Lende-: s i-sreby assigned all compensation, awards, damages and other payments or relief (hereinafter
<br />"Procee-cs') in connection- .vviv,; -, ndemnation or other t =.irg of the P eperty or part thereof, or for conveyance in lieu of
<br />condemnation. Lend �Bnlitled at !ts o,,tion to commence, av�prsr. -r•in and prosecute in its own name any actiorr or
<br />proceedings, and shalt aiso Ze entitled to ma;i,;p arty compromise or ser.'wr -- tt in connection with such taking or damage. tit IJ- .
<br />event qny portion of the ProPa ` :s so taken or damaged, Lender shall ha: e.:t'e optic:+ :.,n its sole and absolute discretion. to aptly
<br />all such Proceeds. after deC.Lc6.-4 herefrom all costs and expenses incurred by ir,,r. connection with such Proceeds, upon any
<br />indebtedness secured hereby and: i n such order as Lender may determine, ar to-ur.,,Jy all lch Proceeds, after such deductions, to
<br />the restoration of the Property upon such conditions as Lender may determine. Any appl ?•oration of Proceeds to indebtedness shall
<br />not extend or postpone the due date of any pa3rnents under the Note, or cure any default thereundn rcr hereunder. Any unapt i.red
<br />funds shall be paid to Trustor.
<br />B. Performance by Lender. Upon the occurrence of an Event of Default hereunder, or if any act is taken or legal proceeding
<br />commenced i bich materially affects Lender's interest in the Property, Lender may in its own discretion, but without obligation to do
<br />so, and without notice to or demand upon Trustor and without releasing Trustor from any obligation, do any act which Trustor has
<br />agreed but fails to do and may also do any other act it deems necessa: to protect the security hereof. Trustor shall, immed:kfely
<br />upon demand there!ur by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connections. with
<br />the exercise by Lerner of the foregoing rights, together with interest thee- nj at the default rate provided in the Note, which sa;all be
<br />added to the indebtedness secured hereby. Lender shall not incur ar,y because of anything it may do or omit .c do
<br />hereun,44r.
<br />Q: JUmrdtws Materials. Trlib.,r shall keep the Property in comphar,.;P: w.,h i 'i aIy.,icable laws, ordinances and regularnins
<br />reletirg rA industrial hygiene or environmerlal ,protection (collectively rr- flbrred to herein as "Environmental Laws "). Trustbutifrlit,ll
<br />keep the Property free from all substances der-f ed to be hazardous OF 4 -•ltc: under any Environmental Laws (collectively referred to
<br />herein as "Hazardous Materials''). Trustor hereby warrants and repreFAml•z to Lender that there are no Hazardous Material3 cn or
<br />underifid ' Property. Trustor hereby agrees to indemnify and hold harmless Lender, its directors, officers, employees and agents, and
<br />any successors to Lender's interest, from and against any and all claims, damages, losses and liabilities arising in connection with
<br />the pre*ance, use. disposal or transport o1•any Hazardous Materials on, under, from or about the Property. THE FOREGOING
<br />WARRANTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE FOREGOING INDEMNITY, SHALL
<br />SURVIVE RECONVEYANCE OF THIS DEED OF TRUST.
<br />10. Assignment of Rents. Trustor hereby assigns to Lender the rents, issues and profits of the Property; provided 11at Tt stor
<br />shall, untl the occurrence of an Event of Default hereunder, have the right to collect and retain such rents. issuea attd 1).ijflta as they
<br />become due and payable. Upon the occurrence of an Evenl :of Default, Lender may, either in person or 4y agent, Faith or without
<br />bringing any action or proceeding, or by a receiver appointed by a court and ,ii,thout regard to the altsqu ai :y of Ii'i security, enter
<br />upon and fake possession of the Property, or any part thereof, in its own name or in the name of the Trusfee,,tiff da any acts which it
<br />deems necessary or desirable to preserve the value. marketability or rentat!tity of the Property. or any part thereat or interest therein,
<br />increase the income therefrom or protect the security hereof and, with or without taking possession of the Property, sue for or
<br />otherwise collect the rents, issues and profits thereof, induiling those past due and unpaid, and apply the samo. less costs and
<br />expenses of operation and collection including attorneys' fens, upon any indebtedness secured hereby, all in such order as Lender
<br />may determine. The entering upon and taking possession of the Prapetty, the collection of such rents. issues and profits and th s-
<br />application thereof as aforesaid. shall not cure or waive any default or notice of default hereunder or invalidate any act done crt
<br />responseto such default or pursuant to such notice of default and, notwithstanding the continuance in possession of the Property or
<br />the collection,-receipt and application of rents. issues or profits. and Trustee and Lender shall be entitled to exercise evory rr g$%,
<br />provided for in any of the Loan Instruments or by law upon occurrence of any Event of Default, including without limitation then g*rt
<br />to exercise the power of sate. Further. Lender's rights and remedies under this paragraph shall be cumulative with, and in n a way a
<br />limitation on. Lender's rights and remedies under any assignment of teases and rents recorded against the Property_ Lender, Truster,
<br />and the+ recf.iver shall be liable to account only for those rents actually received.
<br />111 EviAts of DNault. The following shall constitute an Event of Default under this Deed of Trust
<br />(a) Failure to pay any installment of principal or interest of any other sum secured hereby when due;
<br />(b) Abreach of or default under any provision contained in the Note, this Deed of Trust, any of the Loan irstrwr.en!,1. o, any
<br />other lien or encumbrance upon the Property:
<br />(G3 • �• �::• ts�fv�AB:. titev ::�.'Btt�t:rt•II ^ :II :III:�S� ^ :: tarter.^..^.. °.°,.: Sit$! t$ �IIf:! 8! e: 3Eg�eltc„ rTr�grnrt�t 't!C!t913a1c�iaCn�r� :g1 }ors nn
<br />the Property or any portion thereof or interest therein,
<br />(do There shalt be filed by or against Trustor or Borrower an action under any present or future tpdera'. state or other
<br />statute, taw or reguiahan retahng to bankruptcy. insolvency or other relief for debtors. or there sha" be appc!n;ed any trus!ee
<br />receiver or liquidator of Trustor or Borrower or of ail or any part of the Property, or the rents. !ssues or profits thereof. or Trustor
<br />or Bdriovrer shat! rn3ke any ge-teral ass gnment for the benefit of creditors.
<br />(ro) The sa!e. trans!er, tease•, ass ;gnfsent. conveyance or further encumbrance of aii or arty part c)f or atiV interest in t *.e
<br />property. aalley vatuntarily or Involarilarilr guahout the express written consent cf Lender, piojidad teat Trastui snail be
<br />pt lrr :i[! [Crexecalea!easa of ftlePropu!ty that dcres r.r—tconta'han p the torsi rt tV.ich doosrotexceeJ
<br />Crib year.
<br />if Aliwttil: it ent (it ft-.e Pro0v!t,. or
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