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DEED OF TRUST S� ,,���"f���� F 3
<br /> (Continued) , - • ' '
<br /> Truafor's Report on Insurance. Upon request of Lender, however not more than once a year,Trustor shall furnish to Lender a rF �
<br /> each existing policy of insurance showing: (1) the name of the insurer; (2) the risks insured; (3) the amount of the policy; �
<br /> properiy insured, the then current replacement value of such property, and the manner of determining that value; and (5) the e, i
<br /> date of the policy. Trustor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine the ca �
<br /> replacement cost of the Property.
<br /> LENDER'S DCPENDITURES. If any acHon or proceeding is commenced that would materially affect Lender's interest in the Property or i� �
<br /> fails to comply with any provisfon of this Deed of Trust or any Related Documents,including but not limited to Trustor's failure to discharg� y
<br /> when due any amounts Trustor is required to discharge or pay under this Deed of Trust or any Related Documents,Lender on Trustor f
<br /> may(but shall not be obligated to)take any action that Lender deems appropriate, including but not limited to discharging or paying �� ,
<br /> liens,security interests,encumbrances and other claims,at any time levied or placed on the Property and paying all costs for insuring,ma a
<br /> and preserving the Property All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate chargF
<br /> the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All such expenses will become a part of the Indet� ,
<br /> and,at Lender's option,will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be .
<br /> with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining ter� �
<br /> Note;or (C) be treated as a balloon payment which wili be due and payable at the Note's maturiry. The Property also will secure pati �
<br /> these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.
<br /> WARRANTY;DEFENSE OF TITLE. The fdlowing provisions relating to ownership of the Property are a part of this Deed of Trust:
<br /> Titk. Trustor warrants that: (a)Trustor holds good and marketable title of record to the Property in fee simple,free and clear of all li� i
<br /> encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or flnal title �
<br /> issued in favor of,and accepted by,Lender in connection with this Deed of Trust,and (b)Trustor has the full right,power,and sut� ,
<br /> execute and deliver this Deed of Trust to Lender.
<br /> Defenae of Title. Subject to the exception in the paragraph above,Trustor warrants and will forever defend the title to the Property
<br /> the Iawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the inter�t of Tr
<br /> Lender under this Deed of Trust,Trustor shall defend the ac6on at Trustor's expense. Trustor may be the nominal party in such pro�
<br /> but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counseF of Lender's own cho
<br /> Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to 6me to perr
<br /> participation.
<br /> Complience Wlth Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all e�dsting applicah ,
<br /> ordinances,and regulations of oovernmental authorities.
<br /> SurvivM of Repreaentetiona and Werrantles. All representaHons,warranties,and agreements made by Trustor in this Deed of Tr �
<br /> survive the executlon and delivery of this Deed of Trust,shall be continuing in nature,and shall remain in full force and effect until s�
<br /> as Trustor's Indebtedness shall be paid in full.
<br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br /> Proceedinys. If any proceeding in condemnation is filed,Trustor shafl promptly notify Lender in writing,and Trustor shall promptly t:+ ,
<br /> steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party In such proceeding, bu� �
<br /> shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Tn �
<br /> deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time i
<br /> such participation.
<br /> Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proce« �
<br /> purchase in lieu of condemnation,Lender may at its election require that all or any portion of the net proceeds of the award be appliE
<br /> Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payme �
<br /> reasonable costs,expenses,and attorneys'fees incurred by Trustee or Lender in connection with the condemnation.
<br /> IMPOSITION OF TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmen� ,
<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 T� �
<br /> take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall reimbursF
<br /> for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, ir ;
<br /> without limitation all taxes,fees,documentary stamps,and other charges for recording or registering this Dsed of Trust.
<br /> Taues. The following shali constitute taxes to which this secHon applies: (1) a specific tax upon this type of Deed of Trust or upon a� �
<br /> part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Trustor which Trustor is authorized or required to ded� �
<br /> payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust chargeable against the
<br /> or the holder of the Note;and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and Interest r
<br /> Trustor.
<br /> Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Dsed of Trust,this event shall t �
<br /> same effect as an Event of Default,and Lender may exercise any or all of its available remedies for an Event of Default as provide
<br /> unless Trustor either (1) pays the teu before it becomes deiinquent, or (2) contests the tex as provided above in the Taxes a�
<br /> secHon and deposits with Lender cash or a suHicient corporate surety bond or other security saNsfactory to Lender.
<br /> SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relaHng to this Deed of Trust as a security agreement a� �
<br /> of this Deed of Trust:
<br /> Secu�ity A�raement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures �
<br /> personal property,and Lender shall have all of the righis of a secured party under the Uniform Commercial Code as amended fror�
<br /> Hme.
<br /> SeCUrity Interest. Upon request by Lender, Trustor shall execute financing statements and take whatever other action is requF
<br /> Lender to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed ot
<br /> the real property records, Lender may, at any time and without further authorization from Trustor, file executed counterparts, a
<br /> reproductions of this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perft
<br /> continuing this security interest. Upon default, Trustor shall assemble the Personal Property in a manner and at a place re:+
<br /> convenient to Trustor and Lender and make it available to Lender within three(3)days after receipt of written demand from Lender.
<br /> Addresaes. The mailing addresses of Trustor(debtor)and Lender(secured party)from which information concerning the security �
<br /> granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code)are as stated on the first pag�
<br /> Deed of Trust.
<br /> FURTFIER ASSURANCES;ATTORNEY-IN-FACT. The following provisions relating to further assurances and ettorney-in-fact are a pa� .
<br /> Deed of Trust:
<br /> Further Aasur�ces. At any time,and from time to time,upon request of Lender,Trustor will make,execute and deliver,or will cau�
<br /> made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, rF
<br /> rerecorded,es the case may be,at such times and in such offices and places as Lender may deem appropriate,any and all such mc�
<br /> deeds of trust, security deeds, security agreements, financing statements, contlnuation statements, instruments of further as� ,
<br /> certificates,and other documents as may,in the sole opinion of Lender,be necessery or desirable in order to effectuate,complete,
<br /> continue, or preserve (1) Trustor's obligaHons under the Note, this Deed of Trust, and the Related Documents, and (2) the I��
<br /> securiry interests created by this Deed of Trust as first and prlor liens on the Property,whether now owned or hereafter acquired by
<br /> Unless prohibited by law or Lender agrees to the contrary in writing,Trustor shali reimburse Lender for all costs and expenses inc
<br /> connection with the matters refereed to in this paragraph.
<br /> Attomey�n-Fact. If Trustor fails to do any of the things referred to in the preceding paragraph,Lender may do so for and in the � t
<br /> Trustor and at Trustor's expense. For such purposes, Trusta hereby irrevocably appoints Lender as Trustor's attorney-in-fac�
<br /> purpose of making, execudng, delivering, fliing, recordinq, and doing all other things as may be necessary or desirable, in Lend� .
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