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<br />Loan No: 807157
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200700079
<br />
<br />Page 3
<br />
<br />Defense of Title. Subject to the excertion in thn pnrn!=lnlph Fthove, Trustor warrants am.! will fOrP.vl'lr onfeno the title to the PrOW!rty
<br />agctinst the Illwful clnims of all persons. In the event ilny ilction or rroceeoing is commenced that qUl'lstions Trustor's title 01 the
<br />interest of Trustl'll'l or Lender under this Deed of Trust, Tnutor shall onfend the ilction at Trustor's expl'lnsl'l. Trustor may be the
<br />nominal rilrty in such rrocl'lnoing, but Lmltll'lr shnll hH Hntit.led to pFtrticipnte in thp. prnCl'll'lding and to be represented in the procep.ding
<br />by counsel of Lender's own choicn, and Trustor will dl'llivl'lr, or causl'l to bl'l delivnrod, to Lender such instruments ns Lenrlnr may
<br />rP.quest from time to time to permit such participation.
<br />
<br />Compliance With Laws. Trustor warrants that thn Prorerty Rnd Trustor's usn of the Property complies with RII nxisting IlrplicRble
<br />IRws, oroinances, and rogulations of governmentllliluthorities.
<br />
<br />Survival of Promises. All rromisns, agroemnnts, and stiltements Trustor hilS made in this Deed of Trust shall survive the execution
<br />and delivery of this Deed of Trust, shall be continuinu in niltuce and shall remain in full force flOd affect until such time as Trustor's
<br />Indebtedness is paid in full.
<br />
<br />EXISTING INDEBTEDNESS. The following provisions concerninu Existing Indebtedness are a part of this Daed of Trust:
<br />
<br />Existing Lien. Thn linn of this Dend of Trust securing the Indebtedness milY be secondary and inferior to thn linn sncuring payment of
<br />an existing obligation with an account number of 229395 to EQUITABLE' BANK. Thn l'lxisting obligation has a current princip(ll
<br />balance of IlPproximately $85,639.49 and is in the oriuin(ll principal amount of $97,600.00. The obligation has the following paynlfJnt
<br />terms: $941.97 per Month. Trustor expressly COVl'lnants and ngrl'les to ray, or Sl'le to the payment of, the Existin!,j Indl'lbrfJrJnnss and
<br />to prevent any default on such indebtedness, any default under the instruml'lnts evidencing such indebtedness, or any default under
<br />any security documents for such indebtedness.
<br />
<br />No Modification. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other sl'lcurity
<br />aureement which has priority over this Deed of Trust by which that Flgmemmlt is modified, amended, extendl'ld, or rl'lnl'lwl'ld without
<br />the prior written consent of Lender. Trustor shFlII nnither raquost nor accept llny future advances under any sur.h security agreement
<br />without the prior written consent of Ll'lndl'lr.
<br />
<br />CDNDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />
<br />Proceedings. If any proceedinq in condemnation is filed, Trustor shall rron1rtly notify Lender in writin!,j, and Truslor shall promptly
<br />tFlke such steps as may bl'l necessary to dl'lfeml tlw action and ohtflin the flwilrd. Trustor may be the nominal rflrty in such
<br />fnOcel'ldin!,j, but Lender shall be entitled t.o partir.irMe in the pror.nnding and to he represented in the proceeding by r.ounsel of its own
<br />choicl'l, nnd Trustor will deliver or Clluse to be delivered to Lender such instruments and documentfltion IlS mllY be requested by
<br />Lender from timl'l to time to permit sur.h rflrticipation.
<br />
<br />Application of Net Proceeds. If all or any pan of the Prorl'lrty is condemned hy eminent domain procp.edings or hy any proceeding or
<br />purchase in lieu of condemnation, Lender may at its election rl'lquire that all or any portion of the net proceeds of thl'l Ilward be ilPplied
<br />to the Indebtednp.ss or the repnir or restoration of t11l'l Prorerty. Thp. net rroceeds of the award shnllmefln the Ilward after payrTlent of
<br />all reilsonable costs, expenses, and nttorneys' fl'les incurmd by Truster! or Lender in connection with thl'l r.ondemnation.
<br />
<br />IMPOSITION OF TAXES. FEES AND CHAnGES BY GOVERNMENTAL AUTHORITIES. The followin!,j provisions rolMing to governmental
<br />taxes, fees and charues are a part of this Dewl of Trust:
<br />
<br />Current Taxes, Fees llnd Charges. Uron request by Lender, Trustor shall execute such dor.umnnts in addition to this Deed of Trust
<br />and take whatever other action is requnsted by Lender to perfect and continue Ll'lnder's lien on the Real Property. TrtJsrw shnll
<br />reimhursl'l Ll'lnder for Illl taxes, as described below, to!,jether with all exrl'lnsl'lS inr.urmd in recording, perfl'lcting or continuing this Deed
<br />of Trust, including without limitation all taxes, fees, documentRry stamps, Ilnd other charges for recording or registl'lring this Deed of
<br />Trust.
<br />
<br />Taxes. The following shall constitute taxes to which this section applies: (1) a srecifir. tax upon this type of Deed of Trust or upon
<br />all or any part of the Indehtedness secured by this Deed of Trust; (2) a srl'lcific tax on Trustor which Trustor is nuthorilnd or
<br />required to deduct from payml'lnts on the Indebtedness secured by this type of Dl'led of Trust; (3) a tax on this type of Deed of Trust
<br />chargeable against the Lendl'lr or the holder of the Note; and (4) a specific tax on fill or any portion of thl'l Indabtedness or on
<br />payments of principal and into rest made by Trustor.
<br />
<br />Subsequent Taxes. I f any tax to which this section applies is enact.fJtJ suhsequont to the date of this Dl'led of Trust, this event shall
<br />have the samp. offl'lr.t as Iln Event of Default, nnd Lender may p.xercise any or all of its availnble remedies for an Event of Defnult as
<br />provided balow unless Trustor either (1) rays thn tax before it becomes delinquent, or (2) contests the tax as provided nbove in the
<br />Taxes and Liens section and dl'lposits with Lender cash or a sufficient corporntl'l surety bond or other ser.urily satisfllctory to Lender_
<br />
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a ser.urity Ilgreement are a
<br />part of this Deed of Trust:
<br />
<br />Security Agreement. This instrtJnlent shnll constitute il Security Agreement to the extl'lnt Ilny of the PrOPl'lrly constitutes fixtures, and
<br />Lender shall have all of the rights of a securod party under the Uniform Commercial Code as ilmended from time to time.
<br />
<br />Security Interest. Upon request by Lender, Trustor shnll takl'l whatever action is requested by Ll'lnder to perfect and continue Ll'lndnr's
<br />security interest in the Personal Property _ In nddit ion to recording this DeRd of Trust in thl'l real prorerty records, Lendl'lr may, Ilt any
<br />time llnd without further authorilation from Trustor, file executed r.ounterparts, copies or rerroductions of this Deco of Trust as a
<br />financing statement. Trustor shall reimbursn Londer for all expenses incurred in perfl'lcting or continuing this sl'lcl.Jrity interest. Upon
<br />default, Trustor shFlII not removn, Sl'lver or detach the Personal Property from the Property. Upon defnult, Trustor shall asserTlble (lny
<br />Personal Property not affixno to the Property in il nHUHl"" and at n plnr.n roasonably convenient to Trustor and Lender and makn it
<br />nvnilnbll'l to Lr!ndor within three (3) days flfter rer.l'lipr of writtnn demand from Lender to the extent rermitted by (lpplicnbll'l Inw.
<br />
<br />Addresses. ThemailingaddressesofTrustor(onbtor)llndLender(securedparty)fromwhichinformationconr.mning the sec1uity
<br />interest uranted by this Del'ld of Trust may be obtained (each AS rp.quired hy thn Uniform ComrTlercial COOl'l) nee as stated on the first
<br />pa!,je of this Deed of Trust.
<br />
<br />FURTHER ASSURANCES; ATTORNEY-IN^FACT. The following provisions relnting to further assurances Rnd attorney-in-fact are a pnrt of
<br />this Del'ld of Trust:
<br />
<br />Further Assurances. At flny time, and from time to time, upon request of Lender, Trustor will make, exacute and deliver, or will cause
<br />to be made, executed or delivered, to Lender or to Lender's desiunee, and when requested by I.ender, Cfluse to be filed, rl'lr.orded,
<br />mfilad, or rerecorded, as the case mllY bl'l, flt such times and in such offices and places as Lender mllY deeJTl appropriMf', any Ilnd flll
<br />such mortgages, deeds of trust, security deeds, security Rgreements, financing statements, continuation slatemonts, instruments of
<br />further assurance, r.l'lrtifir.ates, and other documents as may, in the sole orinion of Lender, be nl'lCl'lSSllry or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve (1) Trustor's obligations under the Note, this Deed of Trust, and tho Related
<br />Documents, and (2) the liens and ser.urity interests creMed by this Dned of Trust on the Prorerty, whether now ownrJd or hereafter
<br />Ilcquired by Trustor_ Unless prohibited by law or Ll'lndl'lr agrees to the contrFlry in writing, Trustor shall mimburse Lender for Flll costs
<br />and expenses incurred in connection with the mattl'lrs referred to in this paragrnrh.
<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 ilnd in the name
<br />of Trustor and Ilt Trustor's expense. For such purposes, Trustor hereby irrevocllbly appoints Lender as Trustor's Rttorney in-fact for
<br />the rUrrOSl'l of makinu, executing, delivl'lring, filinu. recording, nnd doing all other thinqs as may be necessi1ry or ol'lsirable, in Lender's
<br />sole opinion, to accomplish tile matters referred to in the rreceding rarflgraph.
<br />
<br />FULL PERFORMANCE. If Trustor pays (III tlll'l Indebtedness when due, find otherwise performs all the obli!,jations imrosed upon Trustor
<br />under this Deed of Trust, Lender shall exer.uta and deliver to Trustee a mquest for full rl'lconveyance and sl1all execute and df'livar to
<br />Trustor suitabll'l statements of terminlltion of any financing statmnant on file evidenr.ing Lender's security interest in the Rmlts find thl'l
<br />Personill Property. Any reconveYAnce fee required hy law shall be paid by TrUstor, if permitted by arrlicabie law_
<br />
<br />EVENTS OF DEFAULT. At LendN's ortion, Trustor will he in rlefault under this Deed of Trust if any of the following harrnn:
<br />
<br />Payment Default. Trustor fails to makn Any payment whl'ln due under the Indl'lbtl'ldness.
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