|
Loan No: 101336524
<br />202110419
<br />DEED OF TRUST
<br />(Continued) Page 5
<br />existing applicable laws, ordinances, and regulations of governmental authorities.
<br />Survival of Representations and Warranties. All representations, warranties, and agreements made by Trustor in
<br />this Deed of Trust shall survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and
<br />shall remain in full force and effect until such time as Borrower's Indebtedness shall be 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 Lender 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 delivered 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 condemned by eminent domain proceedings or by
<br />any proceeding or purchase in lieu of condemnation, 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 />incurred 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 governmental 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 stamps, and other charges 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 />Borrower which Borrower is authorized or required to deduct from payments on the Indebtedness secured by this
<br />type of Deed of Trust; (3) a tax on this type of Deed of Trust chargeable against the Lender or the holder of the
<br />Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest
<br />made by Borrower.
<br />Subsequent Taxes. If any tax to which this section applies is enacted 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 exercise any or all of its
<br />available remedies for an Event of Default as provided below unless Trustor either (1) pays the tax before it
<br />becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens section and deposits with
<br />Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a
<br />security 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 Rents and Personal Property. In addition to recording this Deed of
<br />Trust in the real property records, Lender may, at any time and without further authorization from Trustor, file
<br />executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. Trustor shall
<br />reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon default, Trustor
<br />shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble
<br />any Personal 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
<br />extent permitted by applicable law.
<br />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information
<br />concerning the security interest granted by this Deed of Trust may be obtained (each as required by the Uniform
<br />Commercial Code) are as stated on the first page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and
<br />attorney-in-fact are a part of this Deed of Trust:
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, execute and
<br />deliver, or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by
<br />Lender, cause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and in such offices
<br />and places as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security
<br />agreements, financing statements, continuation statements, instruments of further assurance, certificates, and
<br />other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete,
<br />perfect, continue, or preserve (1) Borrower's and Trustor's obligations under the Note, this Deed of Trust, and
<br />
|