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��-22-1999 DEED OF TRUST 9 9 1113 4 0 Page 4
<br /> Loan No 1044924 (Continued)
<br /> Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lenders own chofce, and
<br /> Trustor will deliver,or cause to be delivered,to Lender such instrumenis as Lender may request irom time to Bme to permit such participaHon.
<br /> Compliance With l.aws. Trustor warranis that the Property and Trustor's use of the Property complies with all exisHng epplicable laws,
<br /> ordinances,and regulations of govemmental authoriHes.
<br /> DCISTING INDEBTEDNESS. The following provisions concerning e�dsting indebtedness (the "E�dsting Indebtedness'�are a part of thfs Deed of
<br /> Trust.
<br /> bcistinp Lien. The lien of this Deed of Trust securing the Indebtedness may be secondery and inferior to an existlng lien. Trustor expressly
<br /> covenants and agrees to pay,w see to the payment of,the E�dsting Indebtedness and to prevent any defauft on such indebtedness,any default
<br /> under the instruments evidencing such indebtedness,or any default under any security documents for such indebtedness.
<br /> Default. If the payment of any installment of principal or any interest on the F�dsting Indebtedness is not made within the time required by the
<br /> note evidencing such indebtedness,or should a default occur under the instrurrient securing such indebtedness and not be cured durinp any
<br /> applicable grace period therein,then,at the option of Lender,the Indebtedness secured by this Deed of Trust shell become immediately due
<br /> and payable,and this Dsed of Trust shall be in default.
<br /> No Modiflcation. Trustor shall not enter into any agreement with the hdder of any mortgage,deed of trust,or other secu�ity agreement which
<br /> has priority over this Deed of Trust by which that agreement is modified,amended,extended,or renewed without the prior written consent of
<br /> Lender. Trustor shall neither request nor accept any future advanc�s 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 /> Applicaifon of Net Proceeds. If all or eny part of the Property is condemned by eminent domain prooaedinps or by any proceediny or
<br /> purchase in lieu of condemnation,Lender may at its eleciion require that aq or any portion of the net proceeds of the award be appNed to the
<br /> Indebtedness or the repair or restoraHon of the Property. The net proceeds of the award shall mean the award after payment of all reesonable
<br /> costs,expenses,and attorneys'fses incurred by Trustee or Lender in connecdon with the condemnation.
<br /> Proceedinys. If any proc�eeding in condemnation is filed,Trustor shell prompfly notiy Lender in writing,end 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 shail
<br /> be entitled to parficipate in the proceeding and to be repra5ented in the proceeding by counsel of its own choice,and Trustor wi�l deliver or
<br /> cause to be delivered to Lender such instruments as may be requested by it from time to time to permit such partic;ipation.
<br /> IMPOSITION OF TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to gov�nmental texes,
<br /> fees and charges are a part of this Desd of Trust:
<br /> Current Taxes,Fees�d Charpes. Upon request by Lender,Trustor shall execute such documents in additlon to this Deed of Trust and iake
<br /> whatever other action is requested by Lender to perfect and contlnue Lender's Ifen on the Real Property. Trusta shall reimburse Lender for all
<br /> taxes, as described below, together with all expen5es incurred in recording, perfecting or conHnufng this Deed of Trust, including without
<br /> IimitaHon all taxes,fees,documentary stamps,and other cheryes fa recordirp or repisterinp Mds Deed of Trust.
<br /> Taxes. The following shall constitute taxes to which this section applies: (a)a specific tax upon this type of Qeed of Trust or upon ell or any
<br /> part of the Indebtedness secured by this Deed of Trust; (b)a specific tax on Borrower which Borrower is authorized or required to deduct from
<br /> paymenis on the Indebtedness secured by this iype of Deed of Trust; (c)a tax on this type of Deed of Trust charyeable eqainst the Lender or
<br /> the holder of the Note; and (d) a specific tax on all or any pwtion of the Indebtedness or on payments of principal and interest made by
<br /> Borrower.
<br /> Subsequent Ttuces. If any tan 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 i1s available remedies for an Event of Defauft 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 deposiis with Lender cash or a sutficient corporate surety bo�d 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 /> Securlty A�reement. This instrument shall constitute a secu�ity agreement to the extent any of the Properiy constitutes Poctures or other
<br /> personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to
<br /> Hme. •
<br /> Security Interest. Upon request by Lender,Trustor shell execute financirp 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 authorization irom Trustor,file executed counterparts,copies or reproductlons of
<br /> this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incuRed in perfecHng 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 from Lender.
<br /> Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party), from which informedon concerning the security interest
<br /> granted by this Deed of Trust may be obtained(each as required by the Unfform 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�rHact ere a part o(this
<br /> Deed of Trust.
<br /> Further Assurances. At any time,and irom drr�to Ume, upon request ot Lender,Trustor will make,execute and deliver, or wiH cause to be
<br /> made, executed or delivered, to Lender or to Lende�'s d�ignee, and when requested by Lender, cause to be flled, recorded, re}iled, or
<br /> rerecorded,as the case may be,at such times and in such o�end plec:es as Lender may deem appropriate,any and all such mortgages,
<br /> deeds of trust,security deeds,security agreements,flnancing statements,continuation statemenis,instruments of further assurance,certificates,
<br /> and other dxuments as may, in the sole opinion of Lender,be necessery or desirable in order to effectuate,complete, perfect,conHnue, or
<br /> preserve (a)the obligations of Trustor and Borrower under the Note,this Deed of Trust,end the Related Documents,and (b)the liens and
<br /> security interests created by this Deed of Trust on the Properiy,whether now owned or hereafter acquired by Trustor. Unless prohibited by lew
<br /> or agreed to the contrary by Lender in writing,Trustor shall reimburse Lender for all costs and expenses incurred in connection with the matters
<br /> referred to in this paragraph.
<br /> Attomey-in-Fact. If Trustor fails to do any of tha things referred to in the preceding paragraph, Lender may do so for and in the name of
<br /> Trustor end at Trustor's expense. For auch purposes,Trustor hereby irrevocably appanls Lender as Trustor's attorney--in-fact for the purpose
<br /> of making, execubng, delivering, filing, recording, and doing sA other things as mey be necessary or desirable, in Lender's sole opinion, to
<br /> accomplish the matters referred to in the preceding paragraph.
<br /> FU1 PERFORMANCE. If Borrower pays all the Indebtedness, including without limitation all future advances, when due, terminates the line of
<br /> credit, and otherwise performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a
<br /> request for full reconveyance and shall execute and deliver to Trustor suitable statements of termination of any financing statement on flle evidencing
<br /> Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted by
<br /> applicable law.
<br /> DEFAULT. Each ot the following,at the option of Lender,shall cor�s�tute an event of default("Event of Default")under this Deed of Trust:
<br /> Default on Indebtedness. Failure of Borrower to make any peyment when due on the Ind�itedness.
<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 eifect discherge of any lien.
<br /> Default in Favor of Third Parties. Should BoROwer or any Trustor defautt under any loan,extension of credit,security agreement,purchase or
<br /> sales agreement, or any other agrsement, in favor of any other creditor or person that may materiaily affect any of Borrower's properly or
<br /> Borrower's or any Trustor's ability to repay the Loans or perform their respective obligallons under this Deed of Trust or any of the Related
<br /> Documents.
<br /> Compliance DeMult. Failure of Trustor or BoROwer 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 Dxumenis.
<br /> F�ae Statements. Any warranry,representation or statement made or hxnished to Lender by or on behalf ot Trustor or Borrower under this
<br /> Deed of Trust,the Note or the Related Dxuments f�false or misleading in any mate�ial respect,either now or at the tlme made or fumished.
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