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DEED OF TRUST Loan No: 28303 200208656 (Continued) ;�,; 'I:�; �, ,I Page participation. Compliance With Laws. Trustor warrants that the Properly and Trustees use of the Properly compiles with all existing applicable laws, ordinances, and regulations of governmental authorities. Survival of Representations and Warranties. All representations, warranties, and agreements made by Truster in this Dead of Trust shall survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect until such time as Trustor's Indebtedness shall be paid In full. CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trusts Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notity Lander in writing, and Truster 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 Lander shall be entitled to participate In the proceeding and to be represented In the proceeding by counsel of its own choice, and Truster will deliver or cause to be delivered to Lender such instruments 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 costs, expenses, and attorneys' we 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 texas, fees and charges are a part of this Deetl of Trust: Current Taxes, Fees and Charges. Upon request by Lender, Truster 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 lien on the Real Property. Trustor shall reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or contnuing this Dead of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Dead 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 pad of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Truster which Truster is authorized or required to deduct from payments on the Indebtedness secured by this type of Dead of Trust; (3) a tax on this type of Dead of Trust chargeable against the Lander 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 Truster. Subsequent Taxes. It any tax to which this section applies is enacted subsequent to the dale 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 tax as provided above In the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lander. SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a pad 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 main time to time. Security Interest. Upon request by Lender, Trustor shall execute financing statements and take whatever other action is requested by Lander to perfect and continue Lender's security interest in the Rants and Personal Property. In addition to recording this Deed of Trust in the real property records, Lander may, at any time and without further authorization from Truster, file executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. Truster shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon default, Truster shall not remove, sever or detach the Personal Property from the Property. Upon default, Truster shall assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Truster and Lender and make it available to Lender within three (3) days after receipt of written demand from Lander to the extent permitted by applicable law. Addresses. The mailing addresses of Truster (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 aftorney -in -fact are a pad 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 Lander, cause to be filed, recorded, refiled, or rerecorded, as the case may ba, 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 agreements, financing statements, confirmation statements, instruments of further assurance, certificates, 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 Nate, this Deed of Trust, and the Related Documents, and (2) the (lens and security interests cleared by this Deed of Trust on the Property, whether now owned or hereafter acquired by Truster. Unless prohibited by law or Lender agrees to the contrary in writing, Truster shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this paragraph. Anorn fy- hr-Fact. If Truster fails 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 Trustces expense. For such purposes, Truster hereby irrevocably appoints Lender as Trustor's attorney -n -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 Truster pays all the Indebtedness, including without limitation all future advances, when due, and otherwise performs all the obligations imposed upon Truster under this Dead of Trust, Lander shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Truster suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any m0mriveyance fee required by law shall be paid by Truster, if permitted by applicable law. EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust: Payment Default. Trusor fails to make any payment when due under the Indebtedness. Other Defaults. Truster fails to comply with or to perform any other term, obligation, covenant or condition contained in this Dead of Trust or In any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained In any other agreement between Lender and Truster. 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 tumble and if Truster has not been given a notice of a breach of the some provision of this Deed of Trust within the preceding twelve (12) months, it may be cured (and no Event of Default will have occurred) if Truster, after Lender sends written notice demanding cure of such failure: (a) cures the failure within twenty (20) 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 Truster 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 affect discharge of any lien. False Statements. Any warranty, representation or statement made or furnished to Lender by Truster or on Trustor's behalf under this Deed of Trust or the Related Documents Is false or misleading in any material respect, either now of at the time matte or furnished or becomes false or misleading at any time thereafter. Defective Collaleoallmnllon. This Deed of Trust or any of the Related Documents ceases to be In full force and effect (including failure of any collateral document to create a valid and perfected security Interest or lien) at any time and for any reason.