|
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200700745
<br />
<br />Page 4
<br />
<br />indebtedness, any default under the instruments evidencing such indebtedness, or any default under any security documents for such
<br />indebtedness.
<br />
<br />No Modification. Trustor shall not enter into any agreement with the 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, TrustOrll!'1all promptly notify lender in writing, and Trustor shall promptly
<br />take such steps as may be necessary to defend the l8'Ctib~"~:t;l~!~dbtain the award, Trustor may be the nominal party in such
<br />proceeding, but lender shall be entitled to participate in the'prdC"\iedin~ 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 participation.
<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 repair or restoration 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 a part 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 take whatever other action is requested by lender to perfect and continue Lender'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 Trust or upon
<br />all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Trustor which Trustor is authorized or
<br />required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed 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 and interest made by Trustor.
<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 shall
<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 lender.
<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 />, ".:,,;.1'..1:), ',.,'
<br />Security Agreement. This instrument shall constitute a SqcLlJiiw[~Ei~r;nent to the extent any of the Property constitutes fixtures, and
<br />lender shall have all of the rights of a secured party und~r,th~"41~~t(;lJ1n"commercial Code as amended from time to time.
<br />
<br />Security Interest. Upon request by lender, Trustor shall take whatever action 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 Deed 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 shall assemble any
<br />Personal Property not affixed to the Property in a manner and at a place 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 granted by this Deed of Trust may be obtained (each as required 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 and deliver, or will cause
<br />to be made, executed or delivered, to Lender or to lender's designee, and when requested by lender, cause to be filed, recorded,
<br />refiled, or rerecorded, as the case may be, at such times and in such offices and places as lender may 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 lender, be necessary or desirable in order to
<br />effectuate, complete, perfect. continue, or preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Related
<br />Documents, and (2) the liens and security interests created by this Deed of Trust on the Property, whether now owned or hereafter
<br />acquired by Trustor. Unless prohibited by law or lender agrees to the contrary in writing, Trustor shall reimburse lender for all costs
<br />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
<br />of Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints lender as Trustor's attorney-in-fact for
<br />the purpose of making, executing, delivering, filing, 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 thepreceqi~g paragraph.
<br />
<br />FUll PERFORMANCE. If Trustor pays all the Indebtedness ~\MfieiilltI~1d'~'""i:I. otherwise performs all the obligations imposed upon Trustor
<br />under this Deed of Trust, lender shall execute and deliver to::rt\.l~'&$.:'tfrequest for full reconveyance and shall execute and deliver to
<br />
|