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200110094
<br />In the event of the passage of any law deducting from the value of real property for the purposes of taxation
<br />of any lien thereon, or changing in any way the laws for the taxation of deeds of trust or debts secured by deeds of
<br />trust for state or local purposes, or the manner of the collection of any such taxes, so as to affect this Deed of Trust,
<br />the holder of this Deed of Trust and of the obligations which it secures shall have the right to declare all sums secured
<br />hereby due as of a date to be specified by not less than 30 days' written notice to be given to Trustor by Beneficiary;
<br />provided, however, that such election shall be ineffective if Trustor is permitted by law to pay the whole of such tax in
<br />addition to all other payments required hereunder and if, prior to such specified date, does pay such tax and agrees
<br />to pay any such tax when hereafter levied or assessed against such property, and such agreement shall constitute a
<br />modification of this Deed of Trust.
<br />Sums Advanced to Bear Interest: To pay immediately upon demand any sums advanced or paid by Beneficiary
<br />or Trustee under any clause or provision of this Deed of Trust. Any such sums, until so repaid, shall be secured hereby
<br />and bear interest from the date it was advanced or paid at the same rate as such indebtedness and shall be secured by
<br />this Deed of Trust.
<br />Assignment of Deposits: That as further additional security if this be a construction loan, Trustor hereby
<br />transfers and assigns to Beneficiary during continuance of these Trusts, all right, title and interest to any and all
<br />monies deposited by Trustor or deposited on behalf of Trustor with any city, county, public body or agency, sanitary
<br />district, gas and /or electric company, telephone company and any other body or agency, for the installation or to
<br />secure the installation of any utility by Trustor pertaining to this property.
<br />Failure of Trustor to Comply with Deed of Trust: Should Maker or Trustor fail to make any payment, or to do
<br />any act as provided in this Deed of Trust, or fail to perform any obligation secured by this Deed of Trust, or do any act
<br />Maker or Trustor agreed not to do, Trustor shall be in default under this Deed of Trust. Beneficiary, but without
<br />obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from any obligation
<br />hereof and without contesting the validity or amount of the same, may (a) make or do the same in such manner and
<br />to such extent as it may deem necessary to protect the security hereof, Beneficiary being authorized to enter upon
<br />such property for such purposes, and (b) pay, purchase, contest or compromise any encumbrance, charge or lien,
<br />which in its judgment is or appears to be prior or superior hereto, and (c) in exercising any such power, pay necessary
<br />expenses, employ counsel and pay his reasonable fees. Trustor agrees to repay any amount so expended on demand
<br />of Beneficiary.
<br />IT IS MUTUALLY AGREED THAT:
<br />Environmental Disclaimer: Trustor warrants (and this shall be a continuing warranty which shall survive until
<br />all the obligations of Maker orTrustor to Trustee and Beneficiary have been fully satisfied) that it is in compliance
<br />with all federal, state and local environmental laws and regulations and has obtained all environmental permits
<br />necessary or appropriate to the conduct of its business. There is not pending, nor to the best of Trustor's knowledge,
<br />after due inquiry, are there any threatened environmental enforcement actions, suits or proceedings before any
<br />court, tribunal or administrative body or official. Trustor, or any responsible officer, general partner, or agent of
<br />Trustor, has not, nor has any former owner of real property occupied by Trustor, stored, used or disposed of any toxic
<br />or hazardous substance on its properties or transported any such substance to or from its properties in violation of
<br />any presently existing or previously existing laws, regulations or policies. The Trustor will not store, use or dispose of
<br />such substances on this property.
<br />Litigation: Trustor shall defend this Trust in any action or proceeding purporting to affect such property,
<br />whether or not it affects the security hereof, or purporting to affect the rights or powers of Beneficiary or Trustee,
<br />and shall file and prosecute all necessary claims and actions to prevent or recover for any damage to or destruction of
<br />such property; and either Trustee or Beneficiary is hereby authorized, without obligation so to do, to commence,
<br />appear in or defend any such action, whether brought by or against Trustor, Beneficiary or Trustee, or with or
<br />without suit, to exercise or enforce any other right, remedy or power available or conferred hereunder, whether or
<br />not judgment be entered in any action or proceeding; and Trustee or Beneficiary may appear or intervene in any
<br />action or proceeding, and retain counsel therein; and take such action therein, as either may be advised and may
<br />settle, compromise or pay the same or any other claims and, in that behalf and for any of said purposes, may expend
<br />and advance such sums of money as either may deem necessary. Whether or not Trustor so appears or defends,
<br />Trustor on demand shall pay all costs and expenses of Beneficiary and Trustee, including costs of evidence of title and
<br />attorney's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear by
<br />virtue of being made a party defendant or otherwise and irrespective of whether the interest of Beneficiary or
<br />Trustee in such property is directly questioned by such action, including but not limited to any action for the
<br />condemnation or partition of such property and any suit brought by Beneficiary to foreclose this Deed of Trust.
<br />Condemnation: All sums due, paid or payable to Trustor, or any successor in interest of Trustor, whether by
<br />way of judgment, settlement or otherwise, (a) for injury or damage to such property, or (b) in connection with any
<br />condemnation for public use or injury to such property or any part thereof, or (c) in connection with the transaction
<br />financed by the loan secured hereby, or (d) arising out of all causes of action, whether accruing before or after the
<br />date of this Deed of Trust, sounding in tort or contract, including causes or action for fraud or concealment of a
<br />material fact together with the settlements, proceeds, awards and damages, direct and consequential, in connection
<br />therewith, are hereby absolutely and irrevocably assigned and shall be paid to Beneficiary, subject however to the
<br />rights of the holder of any prior lien. Beneficiary shall be entitled, at its option, to commence, intervene in, appear in
<br />and prosecute in its own name, any action or proceeding, or to make any compromise or settlement, in connection
<br />with any such taking or damage. Trustor agrees to execute such further assignments of any compensation, award,
<br />damages, rights of action and proceeds as Beneficiary may require.
<br />The amount received by Beneficiary pursuant to this Deed of Trust under any fire or other insurance policy, in
<br />connection with any condemnation for public use of or injury to such property, for injury or damage to such
<br />property, or in connection with the transaction financed by the loan secured hereby are to be applied at the option
<br />of Beneficiary upon any indebtedness secured hereby. No such application, use or release shall cure or waive any
<br />default or notice of default hereunder or invalidate any act done pursuant to such notice.
<br />Consent, Partial Reconveyance, Etc.: At any time, or from time to time, without liability therefor, and without
<br />notice, upon written request of Beneficiary, and without affecting the personal liability of any person for payment of
<br />the indebtedness secured hereby, or the lien of this Deed of Trust upon the remainder of such property for the full
<br />amount of the indebtedness then or thereafter, secured hereby or the rights or powers of the Beneficiary of the
<br />Trustee with respect to the remainder of such property, Trustee may (a) reconvey any part of such property, (b)
<br />consent to the making of any map or plat thereof, (c) join in granting any easement thereon, or (d) join in any
<br />extension agreement or any agreement subordinating the lien or charge hereof.
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