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DEED OF TRUST Loan No: 27438 200201775 (Continued) �. ( �. € . Page 3 Compllenee,With Laws. Trustor warrant that the Property and Trustors use of the Property compiles with all existing applicable laws, ordinances; and regulations of governmental authorities. Survival of Promises. All promises, agreement, and statement Trustor has made in this Deed of Trust shall survive the execution and delivery of this Dead of Trust, shall be continuing In nature and shall remain In fulf force and effect until such time as Tnistcres Indebtedness Is paid in full - - CONDEMNATION. The following provisions relating to condemnation proceedings area part of this Dead of Trust: Proceedings. If any proceeding In condemnation is filed, Trustor shall promptly notify Lender In writing, and Trustor shall promptly take such steps as may be necessary to defend the action and obtain the award. Truster may be the nominal party In such proceeding, but Lender shall be entitled to participate In the proceeding and to be represented In the proceeding by counsel of Its own choice, and Trustor will deliver or cause to be delivered to Lender such instrument and documentation as may be requested by Lender from time to time to permit such participation. Application of Net Proceeds. If all or any part of the Property 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 cost, expenses, and attoroeys' fees incurred by Trustee or Lender In connection with the condemnation. IMPOSITHM,OETAXEB, MM AND CHARGES BY GOVERNMENTAL AUn10RITIES. The following provlaierre *Mft'to gdvermnenal taxes; fees and charges are a part of this Deed of Trust: Current Taxes, Fees and Charges. Upon request by Lender, Trustor shell execute such document In addition to this Deed of Trust and take whatever other action Is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of Trust. Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax 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 tax on Trustor which Trustor Is authorized or required to deduct from payment on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type 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 payment of principal and Interest made by Trustor. Subsequent Tom. If any tax 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 tax before it becomes delinquent, or (2) contest the tax as provided: above in the Taxes and Lions section and deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender. SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of this Dead of Trust: Security Agreement. This Instrument shall constitute a Security Agreement to the extent any of the Property constitutes Postures, and Lender shall have all of the right of a secured party under the Uniform Commercial Code as amended from time to time. Security Interest. Upon request by Lender, Truster shall execute financing statement and take whatever other action Is requested by Lender to perfect and continue Lender's security Interest in the Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at any time and without further authorization from Trustor, file executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security Interest. Upon default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon delaufi, Trustor shag assemble any Personal Property 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 taw. Addresses. The mailing addresses of Trustor (debtor) and Lender (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 following provisions relating to further assurances and aflorney-4naed are a part of this Deed of Trust: 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 made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, raffled, or 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, deeds of trust, security deeds, security agreement, financing statement, continuation statement, Instrument of further assurance, certificates, and other document as may, In the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or preserve (f) Trustor's obligations under the Note, this Deed of Trust, and the Ratted Document, and (2) the Hens and security interest created by this Deed of Trust as first and prior liens on the Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in writing, Truster shall reimburse Lender for all cost and expenses incurred in connection with the matters referred to in this paragraph. Attorney -in -Fact. If Trustor fags to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of Trustor and at Trustors expense. For such purposes, Trustor hereby Irrevocably appoint Lender as Trustors 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 Trustor suitable statement of termination of any financing statement on file evidencing Lender's security Interest in the Rent and the Personal Property. Any reconveyanoe fee required by law shall be paid by Trustor, if permitted by applicable law. EVENTS OF DEFAULT. At Lender's option, Trustor will be In default under this Deed of Trust if any of the following happen: Payment Default. Trustor fags to make any payment when due under the Indebedness. Break Other Promises. Trustor breaks any promise made to Lender or felt to perform promptly at the time and strictly In the manner provided in this Deed of Trust or in any agreement related to this Deed of Trust. Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Not or in any of the Related Document. If such a failure Is curable and H TnoW has not been gh an a notice of a breach of the same provision of this Deed of Trust within the preceding twelve (12) months, it maybe cured (and no Event of Default will have occurred) If Trustor, after Lender sands written notice demanding cure of such failure: (a) cures the failure within twenty (2D) days; or (b) if the cure requires more than twenty (20) days, Immediately Initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical 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 any other payment necessary to prevent filing of or to effect discharge of any lien. False Statements. Any representation or statement made or furnished to Lender by Trustor or on Trustoh's behalf under. this Deed of Trust or the Related Document Is false or misleading In any material respect, either now or at the time made or furnished. Detective Collall6rallzatlon. This Deed of Trust or any of the Related Document ceases to be in full force end effect. (including failure of any collateral document to create a. valid end perfected security interest or Hen) at any time and for any reason. _ Death or Insolvency. The death of Trustor, the Insolvency of Trustor, the appointment of a receiver for any part of Trustors 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.