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DEC -26 -01 WED 08:31 PM FAX: PAGE 7
<br />200113522
<br />DEED' OF TRUST Page 3
<br />Loan No: 19196 (Continued)
<br />participation.
<br />Compliance with Laws. Trustor warrants that the Properly and Trustor's use of the Property complies with ag existing applicable laws,
<br />ordinances, and regulations of governmental authorities.
<br />Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execution and
<br />delivery of this Ueed of Trust, shall be continuing in nature and shall remain In full force and effect until such Ilene as Trusters Indebtedness
<br />is paid in full.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Dead of Trust•. �� such
<br />Proceedings. if any proceeding o in condemnation he action and obtain the award r Truster r notify may be Lender
<br />he nom mine) party innsuch proceeding but Lender
<br />steps as may be necessary will
<br />shall be entitled to participate In the proceeding and to be represented in the proceeding by counsel L its own a III and Truslor Permit
<br />deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender Moen time t0 time to
<br />such participation. oceeding or
<br />App►ication of. Net Proceeds. If ati or any part of the Properly is condemned by eminent domain proceedings Or by any Pr
<br />purchase in lieu of condemnation, Lender may at its election require that all or any portion of the not proceeds of the award be applied b the
<br />Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment Of ati
<br />reasonable Costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemn
<br />ondo anon, to governmental taxes.
<br />IMPOSITION OF TAXES; FEES:AND CHARGES By GOVERNMENTAL AUTHORITIES. The following provisions
<br />fees and charges ore a part Of Ihls Deed of Trust:
<br />Current Taxes, Fees and Charges. Upon requesl by Lender, Trustor shall execute such documents in addition to this Deed of Trust and
<br />tako whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall reimburse Lender
<br />for all taxes, as described below, together with ail expenses Incurred in recording, perfecting or continuing this Deed of Trust, Including
<br />without limitation all taxes, fees, 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 Deed of Trust or upon all or any
<br />part of the, Indebtedness secured by this Deed of Trust; (2) a specific tax on Trustor which Truslor is authorized or required to deduct from of Trust;
<br />payments the holder ofthedNote; and (4) a specifichltax type n � ore any portion of3the Indebtedness por onDpayments of principal and 9Merestt made by
<br />Truster.
<br />Subsequent Taxes. It any tax to which this section applies Is enacted subsequent to the date of this Dead of Trust, this event shag have the
<br />same effect.as on Event of Default, and lender may exercise any or all of its available remedies for an Event of Default as provided below
<br />unless Trusloubither (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens
<br />Section and deposits with 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 security agreement are a part
<br />of this Deed of Trust:
<br />Security Agreement. This instrument shaft constitute a Security Agreement to the extent any of the Properly constitutes fixtures, and Lender
<br />shall have all of the rights of a seoured.parly under the Unilorm .Commercial Code as amended from lime to time.
<br />Security Interest. Upon request by Lender, Trustor shall execute financing statements and take whatever other action IS requested by
<br />Lender to perfect and continue Lender's security interest in the Personal Property. . In addition to recording this Deed of Trust In the real
<br />property reeoirds, Lender may, at any time and without further authorization Irom Trustor, file executed counterparts, copies w reproductions
<br />of this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses Incurred in perfecting Lord
<br />security interest. Upon default, Trustor shall not remove, sever or detach the Personal Property from the Property. P o
<br />shall assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor end Lender
<br />and make it avable to Lender within three (3) days after receipt of written demand from lender to the extent permitted by applicable law.
<br />ail
<br />Addresses..The.meiling addresses of Truslor (debtor) end Lender (secured party) from which information concerning the security interest
<br />granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code) are as slated on the first page o this
<br />Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY -IN -FACT. The following provisions relating to further assurances and attorney -ln -fact are a pert of this
<br />Deed of Trust:
<br />Further Assurances. At any time, and from lime to time, upon request of Lender, Truslor will make, execute and deliver, or will cause to be
<br />made, executed or delivered, to Lender.or to Lender's designee, and when requested by Lender, cause to be filed, recorded, reeled, Or
<br />rerecorded; as the case, may be,.at such times and In such offices and places as Lender may deem appropriate, any and all such mortgages.
<br />deeds of trust,. security deeds, security agreements, financing statements, continuation statements, instruments of further assurance,
<br />certificates, and,otfuer documents as. may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, Complete, erais and
<br />continue, or preserve (1) Truslor's obligations under the Note, this Deed of Trust, and the Related Documenl5,.anr (2)
<br />security interests created by this Deed of Trust as first and prior Ilens on the Property, whether now owned or hereaRer acquired by Trustor.
<br />Unless prohibited by law or Lender agrees to the contrary In writing, Trustor shall reimburse Lender for all costs and expenses Incurred in
<br />connection with the matters referred to in this paragraph.
<br />Altorney- Ini.ct. if Trustor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of
<br />Truslor and at, Trustoes expense. For. such purposes. Trustor hereby irrevocably appoints Lender as Trustees attorney -In fact for the
<br />Purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole
<br />opinion, to accomplish the matters. referred to in the preceding paragraph.
<br />FULL PERFORMANCE. If Truslor pays all the Indebtedness, including, without limitation all future advances, when due, and otherwise performs
<br />all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconvoyance and
<br />shag execute and deliver to Trustorsuitable statements of termination of any financing statement on file evidencing Lender's sac urdy Interest in the law
<br />Rents and the Personal Properly. Any reconveyanca fee required by few shall be paid by Truslor, if permitted by app
<br />EVENTS OF DEFAULT. At Lend'er's option, Truslor will be in default under this Dead of Trust if any of the following happen:
<br />Paymenl Default. Trustor fails to make any payment when due under the Indebtedness.
<br />Break Other Promises,. Trustor breaks any promise made to Lender or fails to perform promptly at the lime and Strictly In the manner
<br />provided in this Deed of Trust or in any agreement related to this Dead of Trust.
<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. If such a failure is curable and if Trustor has not been given a notice of a breach of the same provision of this
<br />Deed of Trust within the preoeding twelve (12) months, it may be cured (and no Event of Default will have occurred) uluedu mmore�than thirty
<br />sends written. notice, demanding cure of such failure: (a) cures the failure within thirty (30) days; or (b)
<br />(30) days, immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps
<br />sufficient to produce compliance as soon as reasonably practical.
<br />Default on Other Payments. Failure of Truster within the time required by Ihis Deed of Trust to make any payment for saxes or Insurance, or
<br />any other payment necessary to prevent filing of or to effect discharge of any lien. regiment purohase W safes
<br />Default In Favor of Third Parties. Should Trustor default under any loan, extension of Credit, security agreement, or Truster's
<br />agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Truslor' properly
<br />ability to repay the Indebtedness or perform their respective obligations under this Deed of Trust or any of the Related Documents.
<br />False Statements Any representation or statement made or furnished to Lender by Trustor or on Trustoes behalf under this Deed of Trust
<br />or the Related Documents is false or misleading In any material respect, either now or at the time made or furnished.
<br />Defective Collaterallzation. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (Including failure of any
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