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<br />Loan No: 806943
<br />
<br />DEED OF TRUST
<br />( Continued)
<br />
<br />200607254
<br />
<br />Page 3
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<br />interest at the rllte chnrged under the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All such
<br />expenses will become a part of the Indebtedness and, at Lender's option, will (A) be paYllble on demanrl; (B) be arlrlerl to the balance of
<br />the Note and be apportioned among and be payable with any instllllment payments to become rlue during either (1) the term of Imy
<br />applicable insurance policy; or (2) the remaining term of the Note; or (C) be treaterl as Il blllloon pllyment which will be rlue anrl pllyable
<br />at the Note's maturity. The Deed of Trust also will secure payment of these amounts. The rights provided for in this paragrllph shllll be in
<br />addition to any other rights or any remerlies to which Lender may be entitled on account of any default. Any such Ilction by Lender shall
<br />not be construed as curing the default so as to bar Lenrler from any remedy that it otherwise would have had.
<br />
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free anrl clear of all
<br />liens Ilnd encumbrances other than those set forth in the Real Property description or in the Existing Inrlebterlnf!ss sf!ction bf!low or in
<br />any titlf! insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deerl of
<br />Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender.
<br />
<br />Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defenrl the title to tllf! PrOflf!rty
<br />against the lawful claims of all persons. In the f!Vf!nt any action or proceeding is commenced that questions Trustor's title or the
<br />interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. Trustor may be the
<br />nominal party in such procef!ding, but Lender shall be entitled to participate in thf! prOCf!erling and to bf! represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />request from time to time to permit such participation.
<br />
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ordinanCf!S, and regulations of governmental authorities.
<br />
<br />Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execution
<br />and delivery of this Deed of Trust, shall be continuing in nature and shall remain in full force and effect until such time as Borrower's
<br />Indebtedness is paid in full.
<br />
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />
<br />Existing Lien. The Iif!n of this Def!d of Trust securing the Indebtedness may be secondary and inferior to an existing lien. Trustor
<br />f!xpressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any default on such
<br />indebtedness, any default under the instruments evidencing such indebtedness, or any default under any security documents for such
<br />indebterlness.
<br />
<br />No Modification. Trustor shall not enter into any agreement with thf! holder of any mortgage, deed of trust, or other security
<br />agreement which has priority over this Deed of Trust by which that agreement is modified, amended, extended, or renewed without
<br />the prior written consent of Lender. Trustor shall neither request nor accept any future advances under any such security agreement
<br />without the prior written consent of Lender.
<br />
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall promptly
<br />take such steps as may be necessary to defend the action and obtain the awarrl. Trustor may be the nominal party in such
<br />proceerling, but Lf!nder shall be entitled to participate in the proceeding anrl to he represented in the proceeding by counsel of its own
<br />choice, and Trustor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by
<br />Lender from time to time to permit such participlltion.
<br />
<br />Application of Net Proceeds. If all or any part 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
<br />to the Indebtedness or the repllir or restorlltion of the Property. The net proceeds of the award shall mean the award after payment of
<br />all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation.
<br />
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are Il part of this Deed of Trust:
<br />
<br />Current Taxes. Fees and Charges. Upon request by Lender, Trustor shall execute such documents in IIddition to this Deed of Trust
<br />and take whatever other action is requested by Lender to pf!rff!ct anrl continuf! Lenrler's lien on the Real Property. Trustor shall
<br />reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed
<br />of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of
<br />Trust.
<br />
<br />Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trusr or upon
<br />all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Borrower which Borrowf!r is authorizerl or
<br />required to derluct from payments on the Indebtf!dness secured by this type of Deed of Trust; (3) Il tax on this type of Deerl of Trust
<br />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
<br />payments of principal IInd intemst made by Borrower.
<br />
<br />Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shllll
<br />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
<br />provided below unless Trustor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the
<br />Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lendf!r.
<br />
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a
<br />part of this Deed of Trust:
<br />
<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
<br />Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to tilm!.
<br />
<br />Security Interest. Upon request by Lender, Trustor shall take whatever Ilction is requested by Lender to perfect and continue Lender's
<br />security interest in the Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at any
<br />time and without further authorization from Trustor, file executed counterparts, copies or reproductions of this Deerl of Trust as a
<br />financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon
<br />default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shllll assemble any
<br />Personal Property not affixed to the Property in a manner and at a plllce reasonably convenient to Trustor and Lender and make it
<br />available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable law.
<br />
<br />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information concerning the security
<br />interest granterl hy this Deed of Trust may be obtained (each as requirerl by the Uniform Commercial Code) are as stated on the first
<br />page of this Deed of Trust.
<br />
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney in fact are a part of
<br />this Deed of Trust:
<br />
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, execute Ilnrl rleliver, or will cause
<br />to be made, executed or delivered, to Lender or to Lender's designee, and when requested by l.ender, cause to be filed, recorded,
<br />refiled, or rerecorded, as the case may be, at such times and in sllch offices and places as Lender mllY deem appropriate, any and all
<br />such mortgages, deeds of trust, security deeds, security agreements, financing statements. continuation statements, instruments of
<br />further assurance, certificates, and other documents as may, in the sole opinion of Lenrler, he necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve (1) Borrower's and Trustor's obligations under the Note, this Deed of Trust, anrl
<br />the Related Documents, and (2) the liens and security interests created by this Deerl of Trust as first and prior liens on the Property,
<br />whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in writing, Trustor
<br />shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this paragraph.
<br />
<br />Attorney-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
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