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<br />Loan No: 80}156
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200611392
<br />
<br />Page 3
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<br />Defense of Title. Subject to the exception in the pamgmph above, TrUSIN warrants and will forever defend the til.le to the Property
<br />against the lawful clilims of illl persons. In the event ilny ilction 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 milY be the
<br />nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the pruceeding
<br />by counsel of Lender's own chuice, and Trustur will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />request from time to time to pfJrrnit such pmlicipmion.
<br />
<br />Compliance With Laws. Trustor warrants that the Property ilnd Trustor's use of the Property complies with all existing applicilble
<br />laws, ordinnnces, and regulntions of governmentnl authorities.
<br />
<br />Survival of Promises. All promises, ilgreements, ilnd statements Trustor has made in this Deed of Trust shnll survive the execution
<br />and delivery of this Deed of Trust, shall be continuing in nalure Ilnd shall remain in full force and effect until such time as trustor's
<br />Indebtedness is paid in full.
<br />
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indp.btedness are a part of this Deed uf Trust:
<br />
<br />Existing Liens. The lien of this Deed of Trust securing the Indebtedness milY be second my nnd infp.rior to liens securing payment of
<br />the following existing obligations: (1) The existing obligation has a current princirml balance of approximately $29,986.96. The
<br />ohligation hns the following pnyment terms: $568.32 per Month.(2) Thp. existing obligation has a current principnl balflllCp. of
<br />aprroximiltely $25,100.50. The obligiltion has the fullowing pilyment terms: $2.5.100.50 per One Time. Trustor expressly
<br />COVf!r1ilnts and ilgrees to rilY, Or see to the payment of, the Existing Indebtedness ilnd to prevent any default on such indebtedness,
<br />any default under the instruments evidencing such indebtedness, or any default under any security documents for such indebtedness.
<br />
<br />No Modification. Trustor shall not enter into (lny ngreernent with the twlder of any mortgage, deed of trust. or other security
<br />agmermHlt which hns priority over this Deed of Trust by which that agreement is modified, amended, extended, or renewed without
<br />the prior written consent of Lendor. Trustor shall neither request nor accept any future advonces under Ilny such security anreement
<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 prumptly
<br />take such steps as may be necessnry to defend the action and obtain the award. Trustor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participilte in the proceeding and to be 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 participatiun.
<br />
<br />Applicetion of Net Proceeds. If all or any pilrt of the Property is condemned by eminent domoin proceedings or by any proceeding or
<br />purchase in lieu of condemnlltion, Lender may at its election require that all or any portiun of the net procoods of the aWilrd be applied
<br />to the Innebtedness or the rerilir or restorntion of the Pruperty. The net proceeds of the award shall meiln the award after payment of
<br />all rensonable costs, expenses, and Ilttorneys' 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 />toxes, fees and char(Jes me 0 pllrt of this Deed of Trust:
<br />
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this Deed of Trust
<br />and tako whatever other action is requested by Lender to perfect find conl.inue Lender's lien on the Reat Property_ Trustor shall
<br />reimburse Lender for all taxes, as described below, together with all oxpenses incurred in recording, porfoctin(J or continuing this Deed
<br />uf Trust, including without limilntion nil Inxes, foes, nocumentary stamps, and other charges for recordin(J or registering this Deed of
<br />Trust.
<br />
<br />Taxes. The fullowing shilll Gonstitute taxes to which this section opplies: (1) II specific tilX upon this type of Deed of Trust or upon
<br />oil or ony part of the Indebtenness socurod by this Deed of Trust; (2) a specific tax on Trustor which Trustor is authorized or
<br />required to deduct from payments on the Indebtodness securod by this tyre of Deed of Trust; (3) a t(lX on this tyre of Deed of Trust
<br />chargeable agoinst the Lender or the holder of the Note; and (4) a specific tax un all or any portion of the Indebtedness or on
<br />payments of principal and interest mane by Trustor.
<br />
<br />Subsequent Taxes, If any tox to which this section Ilpplies is enacted subsequent tu the dnte of this Deed of Trust. this event shllll
<br />have the same effect as an Event of Default, and Lender may exercise any ur all of its availllble remedies for an Fvent of Defnult as
<br />provided below unleRS Trustor eithor (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 Lender.
<br />
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security aweement 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 time.
<br />
<br />Security Interest. Upun request by Lender, Trustor shilll take whatever action is requested by Lender to perfect ond continue Lender's
<br />security interest in the Personal Property. In addition to recurding this Deed of Trust in the real property records, Lender may, ilt any
<br />time and without further Iluthorization from Trustor, file executed counterparts, copies or reproductions of this Deed uf Trust ns II
<br />financing stntement. Trustor shall reimburse Lender for nil expenses incurred in perfecting or continuing this security interest. Uron
<br />defoult, Trustor shall not remove, sever or detoGh the Personal Propmty from the Property. Upon default, Trustor sholl (lssomhle any
<br />Personlll Property not affixed to the Property in a mllnner and at a rlace reasunably convenient to Trustor nnd Lendor Ilnd make it
<br />available to Lender within three (3) days after receipt of written demand frum Lender to the extent permitted by nrPlicable law.
<br />
<br />Addresses. The mailing addresses of Trustor (dobtor) and Lender (secured porty) from which information concorning the ser;urily
<br />intr!lest granted by this Deed of Trust may be obtilined (each as required by the Uniform Cummercinl Code) are as stated on the first
<br />page of this Deed of Trust.
<br />
<br />FURTHER ASSURANCES; ATTORNEY-IN.FACT. The following provisiuns relMing to further assurances ond attorney-in-fact are a pmt of
<br />this Deed of Trust:
<br />
<br />Further Assurances. At any time, and from time to time, upon request of Lenner, Trustor will rT1oke, execute and deliver, or will cause
<br />to be made, executed or delivered, to Lender or to lender's designee, ann when requested by Lender, cause to be filed, r",corded,
<br />refiled, or rerecorded, os the case may be, at such times and in such offices and places os Lenner may deem approprinto, any and all
<br />such mortgoges, doeds of trust, security deeds, security IlgrefJIllents, finilncing stolermmts, continuation slntenlfJnts, instrurT1ents of
<br />further nssurance, certificates, and other documents as may, in the sole opinion of Lender, be nocessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve (1) Trustor's obli(Jations under the Note, this Deed of Trust, Ilnd the Relilted
<br />Documents, and (2) the liens nnd security interests Greoled by this Deed of Trust on t1H! Prorerty, whether now owned or hereofler
<br />acquired by Trustor. Unless prohibited by law or lender Ilgrees to the contrary in writing, Trustor shall reimburse Lender fur all costs
<br />and expenses incurred in connection with the matters referred to in this parnwaph.
<br />
<br />Attorney-in-Fact. If Trustur fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name
<br />of Trustor and ot Trustor's expense. For such purposes, Trustor hereby irrevocably appoints Lender ns Trustor's attorney-in fact for
<br />the purpose of making, executing, delivering, filin(J, recording, and doing all other things as may be necessary or desirable, in Lender's
<br />sole opinion, to accomplish the matters referred to in the preceding paragraph.
<br />
<br />FUll PERFORMANCE. If Trustor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Trustor
<br />under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveynnce and shall execute Ilnd deliver to
<br />Trustor suitable statements of termination of any financing stiltement on file evidencing Lender's security interest in the Rents and the
<br />Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted by applicable law.
<br />
<br />EVENTS OF DEFAULT. At Lender's option, Trustor will be in default under this Deed of Trust if any of the following hoppen:
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<br />Payment Default. Trustor filils to mako Ilny payment when due under the Indebtedness.
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