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.07-12-1999 DEED OF TRllST �' ?� ` Page 5
<br /> Loan No 764425 (cont�nued) g 9� i'O 71$3
<br /> IMPOSITION OF TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes,
<br /> fees and charges are a part of this Deed of Trust:
<br /> Current Taxes,Fees end Chavges. Upon request by Lender,Trustor shall execute such documents in addition to this Deed of Trust and take
<br /> whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall reimburse Lender for ali
<br /> taxes, as described below, together with all expenses incurred in recording, perfecfing or continuing this Deed ot Trust, including without
<br /> 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: (a)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; (b)a specific tax on Borrower which Borrower is suthorized or required to deduct from
<br /> payments on the Indebtedness secured by this type of Deed of Trust; (c)a tax on this type of Deed of Trust chargeable against the Lender or
<br /> the holder of the Note; and (d) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by
<br /> eorrower.
<br /> Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust,this event shall have the
<br /> same effect as an Event of Default(as deflned below),and Lender may exercise any or all of its available remedies for an Event of Default as
<br /> provided below unless Trustor either (a)pays the tax before it becomes delinquent,or (b)contests the tax as provided above in the Taxes and
<br /> Liens 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 of
<br /> this Deed of Trust.
<br /> Secuhty Agreement. This instrument shall constitute a security agreement to the extent any of the Property constitutes fixtures or other
<br /> personal property, and Lender shall have all of the rights of a secured parly undsr the Uniform Commercial Code as amended from time to
<br /> time.
<br /> Security Interest. Upon request by Lender,Trustor shall execute financing statements and take whatever other action is requested by Lender
<br /> to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real
<br /> property records,Lender may,at any time and without further suthorization from Trustor,file executed counterparts,copies or reproductions of
<br /> this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecHng or continuing this security
<br /> interest. Upon default,Trustor shall assemble the Personal Property in a manner and at a place reasonably convenient to Trustor and Lender
<br /> and make it available to Lender within three(3)days after receipt of written demand from Lender.
<br /> Addresses. The mailing addresses of Trustor(debtor) and 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 stated on the first page of this Deed
<br /> of Trust.
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attornay-in-fact are a part of this
<br /> Deed of Trust.
<br /> Further Assurances. At any time, and from time to time, upon request of Lender,Trustor 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, refiled, 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,ce�ificates,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or
<br /> preserve (a)the obligations of Trustor and Borrower under the Note,this Deed of Trust, and the Related Documents, and (b)the liens and
<br /> security interests created by this Deed of Trust as first and prior liens on the Property, whether now owned or hereafter acquired by Trustor.
<br /> Unless prohibited by law or agreed to the contrary by Lender in writing,Trustor shall reimburse Lender for all costs and expenses incurred in
<br /> connection with the matters referred to in this paragraph.
<br /> Attorney-in-FaC4. 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 /> Trustor and at Trustor's expense. For such purposes,Trustor hereby irrevocably appoints Lender as Trustor's attorney-in-fact for the purpose
<br /> of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph.
<br /> FULL PERFORMANCE. If Borrower pays all the Indebtedness,including without limitation all future advances,when due,and otherwise performs all
<br /> the obligations imposed upon Trustor under this Deed of Trust,Lender shall execute and deliver to Trustee a request for full reconveyance and shall
<br /> execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents
<br /> and the Personal Property. Any reconveyance fee required by Iaw shall be paid by Trustor,if permitted by applicable Iaw.
<br /> DEFAU.T. Each of the following,at the option of Lender,shall constitute an event of ciefault("�vent of DefeulY")�nder this Deed of Trusf:
<br /> Detault on Indebtedness. Failure of Borrower to make any payment when due on the Indebtedness.
<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.
<br /> Compliance Default. Failure of Trustor or Bonower to comply with any other term,obligation,covenant or condition contained in this Deed of
<br /> Trust,the Note or in any of the Related Documents.
<br /> False Statements. Any warranty,representation or statement made or furnished to Lender by or on behalf of Trustor or Borrower under this
<br /> Deed of Trust,the Note or the Related Documents is false or misleading in any material respect,either now or at the time made or furnished.
<br /> Defective Collateralizatlon. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any
<br /> collateral documents to create a valid and perfected security interest or lien)at any time and for any reason.
<br /> insolvency. The dissolution or termination of Trustor or Borrower's existence as a going business, the insolvency of Trustor or Borrower,the
<br /> appointment of a receiver for any part of Trustor or Borrower's property, any assignment for the beneflt of creditors, any type of creditor
<br /> workout,or the commencement of any proceeding under any bankruptcy or insolvency Iaws by or against Trustor or Borrower.
<br /> Foreclosure,Forfeiture,etc. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,self-help,repossession
<br /> or any other method,by any creditor of Trustor or by any governmental agency against any of the Property. However,this subsection shall not
<br /> apply in the event of a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the basis of the foreclosure or
<br /> forefeiture proceeding, provided that Trustor gives Lender written notice of such claim and furnishes reserves or a sureiy bond for the claim
<br /> satisfactory to Lender.
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