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<br /> ��-15-1999 DEED OF TRUST Page 4
<br /> Loan No 1042340 (Continued) 9 9 1112 7 6
<br /> has priority over this Deed of Trust by which that agreement is modiBed,amended,extended,or renewed without the prior written consent of
<br /> Lender. Trustor shall neither request nor accept any future advances under any such security agreement without the prior written consent of
<br /> Lender.
<br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust.
<br /> Applicatlon of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or
<br /> purchase in lieu of condemnation,Lender may at its election require that all or any portion of the net procesds of the award be applied to the
<br /> Indebtedness or the repair or restoration of the Property. The net proc�eds of the award shall mean the award after payment of all reasonable
<br /> costs,e�enses,and attorneys'fees incurred by Trustee or Lender in connection with the condemnation.
<br /> Proceedings. If any proceeding in condemnation is filed,Trustor shall promptly notify Lender in writing,and Trustor shall promptly take such
<br /> steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal pariy in such proceeding,but Lender shall
<br /> be entiHed to participate in the proceeding and to be represented in the proceeding by counsel of its own choice,and Trustor will deliver or
<br /> cause to be delivered to Lender such instruments as may be requested by it irom time to Hme to permit such participation.
<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 and Char�es. 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 Lende�'s lien on the Real Property. Trustor shall reimburse Lender for all
<br /> taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including without
<br /> limitation all taxes,fees,documentary stamps,and other charges fcx recording or registering this Deed of Trust.
<br /> Taxes. The following shall constitute taxes to which this section applies: (a)a specific tex upon this type of Deed of Trust or upon all or any
<br /> part of the Indebtedness secured by th�Deed of Trust; (b)a spedfic tpx�Trustor wMch Trustor Is authori�ed or requlred to deduct from
<br /> payments on the Indebtedness secured by this type of Deed of Tn�st; (c)a tax on this type of 4eed of Trust cherpeable a�ainst the Lender or
<br /> the holder of the Note; and (dj e speciflc tax on all or any portion of the Indeb(ednass or on payments of pdncipal and interest made by
<br /> Trustor.
<br /> Subsequent Taxes. If any tax to which this sectlon applies is enected subsequent to the date of this Deed of Trust,this event shall h8ve the
<br /> same effect as an Event of Default(as defined below),and Lender may e�'ase 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 Texes and
<br /> Liens section and deposits with Lender cash or a sufficient corporate surey 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 /> Security Apreement. This instrument shall constitute a securiiy agreement to the extent any of the Property constitut� Hxtures or other
<br /> personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended irom time to
<br /> time.
<br /> Security Interest. Upon request by Lender,Trustor shall execute financing statemenis arld take whatever other action is requested by Lender
<br /> to perfect and continue Lender's security interest in the Rents and Personal Properiy. 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 perfecting or conHnuing 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 irom Lender.
<br /> Addresses. The mailing addresses of Trustor(debtor) and Lender (secured party), irom which information concerning the security interest
<br /> granted by this Deed of Trust may be obtafned(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 attorney-ir�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 Lend�r's designee, and when requasted by Lender, cause to be filed, recorded, refiled, or
<br />_ rerec�r �a � s "11"`m�"i'� rtairl s�ct��ar�piaces es Lendor maY�SPProprfate,any end a�such mortgages,
<br /> deeds of trust,security deeds,security agreements,financing statements,continuaHon statements,instruments of further assurance,certificcates,
<br /> and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect,conHnue, or
<br /> preserve (a)the obligaHons of Trustor under the Note,this Deed of Trust,and the Related Documenis,and (b)the liens and security interests
<br /> created by this Deed of Trust on the Property,whether now owned or hereafter acquired by Trustor. Unless prohibited by law or agreed to the
<br /> contrary by Lender in writing,Trustor shall reimburse Lend�for all cosis and expenses incurred in connection with the matters referred to in
<br /> this paragraph.
<br /> Attomey-in-Fact. If Trustw fails to do any of the things refeRed to in the preceding para�raph,Lender may do so for and in the name of
<br /> Trustor and at Trustor's expense. For such purposes,Trustor hereby krevocably eppoints Lender as Trustor's attorney--in-fact for the purp�e
<br /> ot making, executing, delivering, filing, recording, and dang all other thin�s as may be necessary or desirable, in Lender's sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph.
<br /> FI�L PERFORMANCE. If Trustor pays all the Indebtedness when due,and otherwise performs all the obligations imposed upon Trustor under this
<br /> Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable
<br /> statements of termination of any financing statement on file evidencing Lender's security interest in the Renis and the Personat Property. Any
<br /> reconveyance fee required by law shall be paid by Trustor,if permitted by applicable law.
<br /> DEFAULT. Each of the following,at the option of Lender,shall constitute an event of default("Event of Default'�under this Deed of Trust:
<br /> Default on Indebtedness. Failure of Trustor 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 /> Compllance Default. Failure of Trustor to comply with any other term, obligaHon,covenant or condition contained in this Deed of Trust,the
<br /> Note or in any of the Related Documents.
<br /> Fals�Statements. Any warranty,representation or statement made a furnished to Lender by or on behalf of Trustor under this Deed of Trust,
<br /> the Note or the Related Dxu,menls is false or misleading in any material respect,either now or at the tlme made or fumished.
<br /> DefectivE"Collaterdizetion. This Deed of Trust o(sny¢f the Related Documents ce�ses to be in fuii force and effect(including failure of any
<br /> collateral documents to create a valid and perfeeted security interest of lie'n)at any time and for any reason.
<br /> Death or Insolvency. The death of Trustor, the insolvency of Trustw, the appantment of a receiver for any part of Trustor's property,any
<br /> assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or
<br /> insolvency laws by or against Trustor.
<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 govemmental agency against any of the Properiy. 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 ra5erves w a surety bond for the claim
<br /> satisfactory to Lender.
<br /> Breach of Ofher A�reement. Any breach by Trustor under the t�ms of any other agreement between Trustor and Lender that Is not remedied
<br /> within any grace period provided therein,including without limitation any agreement concerning any indebtedness or other obligation of Trustor
<br /> to Lender,whether e�dsting now or later.
<br /> Events Affectiny Guarantor. Any of the preceding evenls occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor
<br /> dies or becomes incompetent,or revokes or disputes the validity of,or Nability under,any Guaranty of the Indebtedness. Lender,at its op4on,
<br /> may, but shall not be required to, permit the Guaranto�'s estate to assume uncondiHonally the obligations arising under the guaranty in a
<br /> manner satisfactory to Lender,and,in doing so,cure the Event of Default.
<br /> �naecuriry. Lender in good faith deems itself insecure.
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