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<br />Loan No: 601/2952
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200706816
<br />
<br />Page 4
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<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />
<br />Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to the lien securing payment of an
<br />existing obligation with an account number of 867992-600 to Citizens Equity First Credit Union. The existing obligation has a current
<br />principal balance of approximately $212,000.00 and is in the original principal amount of $212,000.00. Trustor expressly covenants and
<br />agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any default on such indebtedness, any default under the
<br />instruments evidencing such indebtedness, or any default under 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 security agreement
<br />which has priority over this Deed of Trust by which that agreement is modified, amended, extended, or renewed without the prior written
<br />consent of Lender. Trustor shall neither request nor accept any future advances under any such security agreement without the prior written
<br />consent of Lender.
<br />
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
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<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall promptly take such
<br />steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party in such proceeding, but Lender
<br />shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Trustor will
<br />deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit
<br />such participation.
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<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 to the
<br />Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all
<br />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 taxes,
<br />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 and
<br />take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall reimburse Lender
<br />for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including
<br />without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of 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 all or any
<br />part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Trustor which Trustor is authorized or required to deduct from
<br />payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust chargeable against the Lender
<br />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
<br />Trustor.
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<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 have the
<br />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
<br />unless Trustor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens
<br />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 part
<br />of this Deed of Trust:
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<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and Lender
<br />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. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect and continue lender's
<br />security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, lender may, at
<br />any 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 default,
<br />Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble any Personal
<br />Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor and lender and make it available to Lender
<br />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 interest
<br />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
<br />Deed of Trust.
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<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this
<br />Deed of Trust:
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<br />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
<br />made, executed or delivered, to lender or to lender's designee, and when requested by lender, cause to be filed, recorded, refiled, or
<br />rerecorded, as the case may be, at such times and in such offices and places as lender may deem appropriate, any and all such mortgages,
<br />deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance,
<br />certificates, and other documents as may, in the sole opinion of lender, be necessary or desirable in order to effectuate, complete, perfect,
<br />continue, or preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2) the liens and
<br />security interests created by this Deed of Trust on the Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by
<br />law or lender agrees to the contrary in writing, Trustor shall reimburse lender for all costs and expenses incurred in connection with the
<br />matters referred to in this paragraph.
<br />
<br />Anorney-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 of
<br />Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints lender as Trustor's attorney-in-fact for the
<br />purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in lender's sole
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