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DEED OF TRUST 200302122
<br />Loan No: 1632470 (Continued) Page 3
<br />survive the execution and delivery of this Dead of Trust, shall be continuing in nature, and shall remain in full force and enact unfit such time
<br />as Trustors Indebtedness shall be paid in full.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a pad of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation Is filed, Trustor shall promptly notify Lender In wining, 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 party In such proceeding, but Lender
<br />shell be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Trustor will
<br />deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permti
<br />such participation.
<br />Application of Net Proceeds. It all or any pad 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 proceeds of the award be applied to the
<br />Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all
<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 governmental use,
<br />tees and charges are a pad of this Dead of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents In addition to this Dead of Trust and
<br />take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trust" shell reimburse Lender
<br />for all taxes, as described below, together with all expenses Incurred in wording, perfecting or continuing this Deed of Trusl, including
<br />without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Dead of Trust.
<br />Tyres. The following shall constitute taxes to which tits section applies: (1) a specific tax upon this type of Dead of Trust or upon all or any
<br />pad of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Trustor which Trustor Is authorized or required to deduct ham
<br />payments on the Indebtedness secured by this type of Dead of Trust; (3) a lax on this type of Deed of Trust chargeable against the Lend"
<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 made by
<br />Trustor.
<br />Subsequent Taxes. If any W to which this section applies is enacted subsequent to the date of this Dead of Trust, this event shall have the
<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 provided below
<br />unless Trustor either (1) pays the tax before it becomes delinquent, or (2) contests the lax as provided above in the Taxes and Liens
<br />section and deposits with Lender cash w a sufficient corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Dead of Trust as a security agreement are a pad
<br />of this Deed of Trust:
<br />Security Agreement. This instrument shall constitute a Security Agreement to the cadent any of the Property constitutes fodures, and Lentler
<br />shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time 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 Lenders security interest in the Rents and Personal Property. In addition to recording this Dead of Trust in
<br />the real property records, Lender may, at any fine and without further authorization from Trust", file executed counterparts, copies or
<br />reproductions of this Dead of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or
<br />continuing this security Interest. Upon default, Trustor shall not remove, Sever or detach the Personal Property from the Property. Upon
<br />default, Trustor shall assemble any Personal Properly not saved to the Property in a manner and at a place reasonably convenient to Trust"
<br />and Lender and make It available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by
<br />applicable law.
<br />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which Information concerning the security interest
<br />granted by this Dead of Trust may be obtained (each as required by the Uniform Commemial Code) are as stated on the first page of this
<br />Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY- IN-FACT. The following provisions relating to further assurances and aftwrreytin -fact are a pad of this
<br />Used of Trust:
<br />Further Assurances. At any time, and from time to fial 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 fudher assurance,
<br />certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable In order to effectuate, complete, perfect,
<br />continue, or preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2) the liens and
<br />security interests created by this Dead of Trust as first and prior liens on the Property, whether now owned or hereafter 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 />AOomey -In -Fact. 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 altorneyInfacl 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 retained to in the preceding paragraph.
<br />FLAL PERFORMANCE. If Trustor pays all the Indebtedness when due, and othenvlse performs all the obligations Imposed upon Trustor under
<br />this Deed of Trust. Lend" shell execute and deliver to Trustee a request for full moonveyance and shall execute and deliver to Trustor suitable
<br />statements of termination of any financing statement on file evidencing Lenders security interest In the Rents and the Personal Property. Any
<br />reconveyi nce fee required by law shall be paid by Trustor, if permitted by applicable law.
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall consttute an Event of Default under this Deed of Trish.
<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
<br />Other Defaults. Trustor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Dead of Trust or
<br />in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained In any other
<br />agreement between Lender and Trustor.
<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. It such a failure is curable and if Trustor has not been given a notice of a breach of the same provision of this
<br />Dead of Trust within the preceding Met" (12) months, it may be cured (and no Event of Default will have occurred) a Trustor, after Lender
<br />sends wdften notice demanding cure of such failure: (a) cures the failure within fifteen (15) days; or (b) If the cure requires more than fifteen
<br />(15) 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 Trustor within the time required by this Dead 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 />Defaull In Favor of Third Parties. Should Trust" default under any loan, extension of credit, secudly agreensu 1, purchase or sales
<br />agraamanl, or any, other agreamaM, in favor of any other creditor or person that may materially affect any of Trustees property or Trustees
<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 warranty, representation or statement made or furnished to Lender by Trustor or on Trustor's behalf under this Dead
<br />of Trust or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes
<br />false or misleading at any time thereafter.
<br />Defective Collaterallzatlon. This Dead of Trust or any "the Related Documents ceases to be in full force and effect (Including failure of any
<br />collateral document to create a valid and Tenanted security Interest or lien) at any time and for any reason.
<br />Insolvency. The dissolution or termination of Tustors existence as a going business, the Insolvency of Trustor, the appointment of a
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