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200110816
<br />DEED OF TRUST
<br />Loan No: 772120 (Continued) Page 2
<br />services rendered or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority over or equal to the
<br />interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due, except for the Existing Indebtedness
<br />referred to below, and except as otherwise provided in this Deed of Trust.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on
<br />a fair value basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of
<br />any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Trustor shall also procure and maintain comprehensive
<br />general liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in
<br />such liability insurance policies. Additionally, Trustor shall maintain such other insurance, including but not limited to hazard, business
<br />interruption, and boiler insurance, as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis
<br />reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upon request of
<br />Lender, will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations
<br />that coverages will not be cancelled or diminished without at least ten (10) days prior written notice to Lender. Each insurance policy also
<br />shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of
<br />Trustor or any other person. Should the Real Property be located in an area designated by the Director of the Federal Emergency
<br />Management Agency as a special flood hazard area, Trustor agrees to obtain and maintain Federal Flood Insurance, if available, within 45
<br />days after notice is given by Lender that the Property is located in a special flood hazard area, for the full unpaid principal balance of the loan
<br />and any prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as
<br />otherwise required by Lender, and to maintain such insurance for the term of the loan.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Trustor
<br />fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Trustor's failure to comply with any
<br />obligation to maintain Existing Indebtedness in good standing as required below, or to discharge or pay when due any amounts Trustor is
<br />required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Trustor's behalf may (but shall not be obligated to)
<br />take any action that Lender deems appropriate on the Property and paying all costs for insuring, maintaining and preserving the Property. All
<br />such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred
<br />or paid by Lender to the date of repayment by Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A)
<br />be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to
<br />become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon
<br />payment which will be due and payable at the Note's maturity.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all liens and
<br />encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or in any title
<br />insurance.'polity, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and (b)
<br />Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property against
<br />the lawful claims of all persons.
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
<br />Other Default. Trustor fails to comply with any other term, obligation, covenant or condition contained in this Deed of Trust or in any of the
<br />Related Documents.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note or in
<br />any of the Related Documents.
<br />Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or insurance, or
<br />any other payment necessary to prevent filing of or to effect discharge of any lien. - - r-
<br />Death or Insolvency. The death of Trustor or the dissolution or termination of Trustor's existence as a going business, the insolvency of
<br />Trustor, the appointment of a receiver for any part of Trustor's property, any assignment for the benefit of creditors, any type of creditor
<br />workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party
<br />of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes
<br />the validity of, or liability under, any Guaranty of the Indebtedness. In the event of a death, Lender, at its option, may, but shall not be
<br />required to, permit the guarantor's estate to assume unconditionally the obligations arising under the guaranty in a manner satisfactory to
<br />Lender, and, in doing so, cure any Event of Default.
<br />Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or
<br />performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />Existing Indebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is not made within the time
<br />required by the promissory note evidencing such indebtedness, or a default occurs under the instrument securing such indebtedness and is
<br />not cured during any applicable grace period in such instrument, or any suit or other action is commenced to foreclose any existing lien on
<br />the Property.
<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default under any indebtedness, or should Trustor fail to comply
<br />with any of Trustor's obligations under this Deed of Trust, Trustee or Lender may exercise any one or more of the following rights and remedies:
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