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DEED OF TRUST Loan No: 1452795 200200585 (Continued) Page Application of Net Proceeds. It all or any pad of the Properly is condemned by eminent domain proceedings or by any proceeding or 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 Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonable costs, expenses, and attorneys low incurred by Trustee or Lender in connection with the condemnation. IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes, fees and charges are a pad of this Dead of Trusts Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this Deed of Trust and take whatever other action Is requested by Lender to perfect and continue Lender's Ilan on the Real Property. Truster shall reimburse Lender for all lazes, as described below, together with all expenses incurred in recording, competing or continuing this Deed of Trust, including without limitation all taxes, fees, documentary Stamps, antl other charges for retarding w registering this Dead of Trust. Taxes. The following shall constitute taxes It which this seollon applies: (1) a specific lax upon this type of Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific lax on Trustor which Truster Is authorised or required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax an this lying of Deed of Trust chargeable against the Lender 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 matte by Truster. Subsequent Taxes. If any lax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shall have the 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 unless Trustor either (1) pays the lax before it becomes delinquent, or (2) contests the lax as provided above in the Taxes and Liens section and deposits with Lander cash or a sufficient corporate surely bond or other sMunry Satisfactory to Lender. SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust es a security agreement are a pan of this Deed of Trust: Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and Lander shall have all of the rights of a Secured party under the Uniform Commercial Code as amended from lime to time. Security Interest. Upon request by Lender, Truster shalt execute financing statements and lake whatever other action is requested by Lander to perfect and continue Lender's security interest in the Personal Properly. In addition to recording this Deed of Trust in the real property records. Lender may, at any time and without further aulhorimfion from Trustor, file executed counterparts, copies or reproductions of this Dead of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this secury interest. Upon default, Trustor shall not remove, sever or detach the Personal Properly from the Properly. Upon default, Trustor shall assemble any Personal Properly not affixed to the Property in a manner and at a place reasonably convenient to Trustor and Lender and make it available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable law. Addresses. The malling addresses of Trustor (debtor) and Lander (secured party) from which Information concerning the security interest 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 of Trust. FURTHER ASSURANCES; ATTORNEY -IN -FACT. The fallowing provisions relating to further assurances and afforney -in -feel are a part of this Deed of Trust: Further Assurances. At any time, and from time to time, upon request of Lander, Trustor will make, execute and deliver, or will cause to be made, executed or delivered, In Lender er to Lender's designs, and when requested by Lender, cause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and In such offices and pieces as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance, cedificates, and other documents as may, in the sole opinion of Lander, be necessary or desirable in order to effectuate, complete, perfect, continue, or preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2) the liens and security interests created by this Deed of Trust on the Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lander agrees to the contrary in writing, Trustor shall reimburse Lender Or all costs and expenses incurred In connection with the matters referred to in this paragraph. Atlomey -In -Fact. It Thaler tails to do any of the things referred to in the preceding paragraph, Lander may do so for and in the name of Truster and at Timer's expense. Far such purposes, Truster hereby irrevocably appoints Lender as Truslor's attorney -in -fact for the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable. in Lender's sole opinion, to accomplish the matters referred to in the preceding paragraph. FULL PERFORMANCE. If Trustor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Truslor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Properly. Any reconveyance fee required by law shall be paid by Trustor, If permitted by applicable taw. EVENTS OF DEFAULT. At Lenders option, Truster will be in default under this Deed of Trust If any of the following happen: Payment Default. Trustor fails to make any payment when due under the Indebtedness. Break Other Promises. Truster breaks any promise made to Lender or fails to perform promplly at the time and strictly in the manner provided in this Deed of Trust or in any agreement related to this Dead of Trust. Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note or in any of the Related Documents. If such a failure IS curable and it Trustor has not been given a notice of a breach of the same provision of this Deed of Trust wllhin the preceding twelve (12) months, It may be cured (and no Event of Default will have occurred) if Trustor, after Lander sends written notice demanding cure of such failure: (a) cures the failure within fifteen (15) days; or (b) if the cure requires more than fiffean (15) days, immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary slaps sufficient to produce compliance as soon as reasonably practical. Default on Other Payments. Failure of Truster within the time required by this Dead of Trust to make any payment for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any Ilan. Default In Favor of Third Parties. Should Truster default under any loan, extension of credit, security agreement, purchase or sales agreement, ar any other agreement. in favor of any other creditor or person that may materially affect any of Truster's properly or Trustor's ability to repay the Indebtedness or perform their respective obligations under this Dead of Trust or any of the Related Documents. False Statements. Any representation or statement made or furnished to Lander by Truster or on Trustor's behalf under this Deed of Trust or the Related Documents Is false or hunlead ng in any material respect, either now or at the time made or furnished. Defective Collaterelfsatlen. This Deed of Trust or any of the Related Documents ceases to be in full force and aged (including failure of any collateral document to create a valid and perfected security interest or Ilan) at any lime and for any reason. Death or Insolvency. The death of Truster, the insolvency of Trustor, the appointment of a receiver for any part of Trustor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor. Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of Trustor's properly in which Lentler has a lien. This includes taking of, garnishing of or levying on Truster's accounts with Lander. However, It Trustor disputes in good faith whether the claim on which the taking of the Property is based is valid or reasonable, and if Truster gives Lender wdlten notice of the claim and furnishes Lender with monies or a surety band satisfactory to Lender to satisfy the claim, then this default provision will net apply. Breech of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that is not remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other obligation of Trustor to Lander, whether existing now or later. Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party ties or becomes incompetent, or revokes or disputes