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<br />FrOIl1:
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<br />11/06/2007 15:24
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<br />11474 P.009/025
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<br />200709864
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<br />. 3. Taxes, ASSCSSIUClltS. To pay before delinquency all taxes, spccial "ssessments and all other charges
<br />agamst the Property now or hereafter levled. .
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<br />4. Insurance. To keep the PJ'Operty i[)sllred against damage by fire, hazards incl~lded within the lmn
<br />"extended coverage", and such other hazards as Lender may require, in amounlS and with cOm pan ies acceptable to
<br />Lender, naming Lend.r as an additional named in",,,.d, with loss payable to the Lender. In case of]"" under sClch
<br />policies, the Lender is authorized to adjust, collect and compromi,e, all claims thel'eunderand shall have the option
<br />of applying all or part ofthe insw'ance proceeds (i) to any indebtedness secllred hereby and in such order as Lender
<br />may determine, (ii) to the Trustor to be used tor the repaiT or restoration of the Property or (iii) for any other purpose
<br />01' object satisfactory to Lender without affecting the lien of this Deed of Trus! for the full amo\rnt secured her'eby
<br />before such payment ever took pl."o. Any application of proceeds to indebtedness shaH not extend or postpone the
<br />due date of any payments under the Note, 01' cure any default thcr.ClUldcr elf hereunder.
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<br />5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender, in sueh manner as Lender may
<br />designate, sufficient sums to onable Lender to pay as they beeome due one or more of the toll owing: (i) all taxes,
<br />assessments and other charges against the Property, (ii) the premiums on the property insUl'ance required hercundcr,
<br />(iii) thc premiums on any mortgagc insurance, and (iv) flood insurance required by the Lendcr.
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<br />6. Maintc.llance, Repairs and Compliance wilh Lnws. Trllstor shall keep the Property in good condilion
<br />and repair; shall promptly repair, 01' replace any improvement wllich may bc damaged or destroyed; shall not commit
<br />or permit any waste or deterioration of the Property; shall not remove, demolish or substantially alter any of the
<br />improvemenb on the Property; shall not commit, suffer or permit any act to he done in or upon the Property in
<br />violation of any law, ()rdinance, 01' regulation; .and shatl pay and promptly discharge at Trustor's cost and expense all
<br />liens, encumbrances and charges levied, imposed er assessed against the Property or any part thereof.
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<br />7 Emillent 00l1l"ill. ..Looder is hereby a~'sign.d all Q9lllpensatiOrJ, uWlU'd~, damages anu other paymeots oj'
<br />relief (hereinafter "Proceed~") in connection with condemnation or other taking ofthe Property or part thereof, or for
<br />conveyance in lieu of condcmnation, Lender shall be cntitled at its option to commcnce, appeal' in and prosecute in
<br />its own name any action or proceedings, and shall also be entitled to make any .compromisc or seLtlement in
<br />connection with such taking or damage, In the event any portion oHbe Property is so taken or dumaged, Lender shall
<br />have Lhe option, in its sole und absolute discretion, to apply all such Proceeds, after deducting thcrefrom all WSLs and
<br />expenses ineurred by it in connection with such Proceeds, upon any indebtedness secured hereby and in such order as
<br />J .ender may determine, or to apply all such Proceed" ailer such dedllctions, to the
<br />restoration of the PI'opcrty upon such conditions as Lender may determine. Any application of Proceeds to
<br />indebte(lness shall not extend or postpone the due date of any payments under the Note, 01' cure any defdult
<br />thcrcunder 01' hereunder. Any unapplied funds shall be paid to Trustor.
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<br />8. Performance by Lender. Upon the occurrence of an Event of Delalllt hereuuder, or ifany act is taken
<br />or legal proceeding cOlllmenced which materiully affects Lender's interest in the Property, Lendcr may in its own
<br />discretion, but without obhgation to do so, and without notice to or demand upon Tro,lor and without releasing
<br />Tmstor {i.om any obligation, do any .,et which 'frustaI' has agreed but fiills to do and may also do any other act it
<br />deem8 necessary to protect the security hcreof: Trustor shall, ilnmediately upon demand therefor by Lender, pay to
<br />Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by Lender or
<br />the foregoing rights, together with intere,t thereon at thc dofilult rate provided in the Note, which shall bc added to
<br />the indebtedness secured hereby. Lender ,hall not incur any liability because of anything it may do or omit to do
<br />hereunder
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<br />9. HaLardous Mntel"ials. Trustor shaU keep the Property in compliance with all applicable laws,
<br />ordinances and rcgulationSl'elating to industrial hygiene or environmental protection (cojjectively reterred to herein
<br />as "Environmental Laws"). Trustor shall keep the Property frcc 1i-om all substances decmcd tobe hazardous or toxic
<br />llndet any Environmental Laws (collectively refened to hcrein as "Hazardolls Materials"), Trustor hereby warrants
<br />and represents to Lender rhM there arc no Hazardous Materials on 01' llndcr the Pwpeny. Trustor hereby agrees to
<br />indemnifY and hold harmless Lender, Its dIrectors, officers, employees and agents, and any Successors to Lender's
<br />interest, fi'om and against any and all claims, damages, losses and liabilities arising in connection with the prcsencc,
<br />use, di,poslll or lmnsport of any Hazardous Materials on, under, ii'om Or about the Property, THJ2 fOREGOING
<br />WARRA.NTIES AND REPRESENTATIONS, AND TRUSTOR'S OBLIGATIONS PURSUANT TO THE
<br />FOREGOING INDEMNITY, SllAI J. SURVIVE RECONVEYANCE OF TIllS DEED Of TRUST.
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<br />10. Assignment of Rents. Trustor hereby assigns to Lender the rents, issues and profits of the Property;
<br />providcd that Tr\lstor shall, unlil the occurrence of an Event of Default hereunder, have the right to collect and retain
<br />such rent,', issues and profits as they become dm' and pavable. Upon the occurrence of an Event of Default, Lendcr
<br />may, either in person 01' by agent, with or without bringing any action or proceeding, or hy a rcceivcr appointed by a
<br />cou.rt and without regard to the adequacy of iLs security, enter upon and take possession of the Property, or any part
<br />thereof, in it~ own name or in the name of the Tru,tee, lu,d do any act~ which it deems necessary or dcsirable to
<br />preserve the value, marketability or rentahillty of the Property or any part thereof Or interest therein, increase tbe
<br />iMol11e therefrom 01' pr()tcel the security hereof and, with or without taking possession of thc Property, sue for or
<br />otherwise collect the rents, issues and prollts thereot; including thosc past doe and \rnpaid, and apply the same, lcs8
<br />costs and expenses of operation and eolleethm including attorney's fees, upon any indebtedness secu.red hereby, all in
<br />s\leh order as Lender lllay determine. Trustor, Trustec and Lender agree that a receiver can be appointed upon the
<br />roqllest ofTrustec at any timo aller the t1Iint( of" Notice ofDefaul1 Or in any action to enforce the assignment of r"rlLS
<br />provided herein 01' othel'wi,e. The entel'ing upon and taking p""c"ion of the Property, the coiledi"n of ,uch r'ents,
<br />i"ue, and profits "!1d the applicotion d\ereof as of ores aid, shall not cure or waivc any default or notice of defalllt
<br />hereunder or invalidate any act clone in response to such default oJ' pursuant to such notice of delimit and,
<br />notwithstanding the continuance in posscssion of the Property or the collection, receipt and application of rents,
<br />issnes or profits, and Trustee and Lender shall be entitled to exercise every right providedlilr in any of the Loan
<br />Instruments or by law upon occl.mCllce of any Eve!lt of Default, including without lnuitation the right to exercise the
<br />power of sale. Further, Lendcr's nghts and remedIes under tillS paragraph shaH be cumulatIve WIth, and III no way a
<br />limitation on, Le!Jder's rights and remedies under any assignment of lcases and rC!Jts rccorded against the Property.
<br />Lender, Trustee and the receiver shall be liable to account only for those rcnts aetllally receivcd.
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<br />II. Events 01' Default. The following shall constitute [Ill Event of Default u.nder this Decd ofTrus!:
<br />(a) failure to pay any instailment of princ'psl or interest of any other Rum secured herehy when due.:
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<br />14109CV (10101)
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<br />P.g, 2 0,4
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<br />33G7ti4::1
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<br />G(')T()(OOlf914~;
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