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<br />200801431
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<br />change in ownershrp of more than 25 percent of the voting stock of a corporation. However, Beneficiary mdY riot
<br />demand payment in the above situations if it is prohibited by law as of the date of this Deed of Trust.
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<br />11. ENTITY WARRANTIES AND REPRESENTATIONS. If Trustor is an entity other than a natural person (such as a
<br />corporation or other organization), Trustor makes to Beneficiary the following warranties and representations which
<br />shall be contilllJing ilS long as the Secured Debt remains outstanding:
<br />A. frustor is an entity which is duly organized and validly existing in the Trustor's state of incorporation lor
<br />organization). Trustor is in good standing in all states in which Trustor transacts business, Trustor has the
<br />power and authority to own the Property and to carryon its business as now being conducted and, as
<br />applicable, is qualified to do so in each state in which Trustor operates.
<br />B. The execution, delivery and performance of this Deed of Trust by Trustor and the obligation evidenced by the
<br />Evidence of Debt are within the power of Trustor, have been duly authorized, have received all necessary
<br />governmental approval, and wiii not violate any provision of law, or order of court or governmental agency.
<br />C. Other than disclosed in writing Trustor has not changed its name within the last ten years and has not used any
<br />other trade or fictitious name Without Beneficiary's prior written consent, Trustor does not and will not use any
<br />other name i'md will preserve its existing name, trade names and franchises until the SeclHed Debt is satistled
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<br />12. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good condition and make
<br />all repairs that are reasonably rlecessary, TIW:IOl will give Beneficlij;y fJlOlllpl IllJtlce uf allY Iuss ur dallldge to the
<br />Property, Trustor will keep the Property free of noxious weeds and grasses. Trustor will not initiate join in or consent
<br />\;j ;11"'"1 ~hdi 1 ,,_'j--; if"1 '-;j IV jj: j\/qi 3 I t:i.thi.:.:ti'jE: CO\d-~:'!'_1rH znn\ng (;rdi~:.=,,~".s~: (.1: ..)il"let i'iI.1;'llii~ ..";:: Ui i\/'iL'-: ;"c.;;tril-:tion ~in:!rir-Iq
<br /> Dr
<br />detllllr'\J:<:he 'uses which m<>r be G:tl':de of the P,-operty or '",ny part of T,.e Prope.'ty, WIthout L::::nutlc'"ry's prlol II"rl'ttl:Jl\
<br />consent. Trustor will notify Bener;(;iary of all demands, plOceedings, claims, and actions against Trustor or any other
<br />owner made under law or regulation regarding use, ownership and occupancy of the Property. Trustor will comply with
<br />all legal requirements and restr ictions, whether public or private, with respect to the use of the Property. Trustor also
<br />agrees that the nature of the occupancy and use will not change without Beneficiary's prior written consent.
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<br />No portion of the Property will be removed, demolished or materially altered without Beneficiary's prior written consent
<br />except that Trustor has the right to remove items of personal property comprising a part of the Property that become
<br />worn or obsolete, provided that such personal property is replaced with other personal property at least equal in value
<br />TO thA rp.pli1r:E~rl pp.rsoni11 propp.rty, frep. from ilrlY title rp.tp.ntion device, security ilgreerllent or other encumbrance Such
<br />replacement ot personal property Will be deemed subject to the security Interest created by thiS Deed of Trust. Trustor
<br />shall not partition or subdivide the Property without Beneficiary's prior written consent. BenefiCiary or Beneficiary's
<br />Clgents lIlaY, at Benetl(;lary's option, enter the Property at any reasonable time for the purpose of inspecting the
<br />Property. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor will in no way rely on
<br />BenefiCiary's inspection.
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<br />13. AUTHORITY TO PERFORM. If Trustor fails to perform any of Trustor's duties under this Deed of Trust, or any other
<br />mortgage, deed of trust, security agreement or other lien document that has priority over this Deed at Trust,
<br />Benetlclary Inay, without notice, perform the duties or cause them to be performed. Trustor appoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any amount necessary for performance. If any construction on the
<br />Property is discontinued or not carried on in a reasonable manner, Beneficiary may do whatever is necessary to protect
<br />Beneficiary's security interest in the Property. This may include completing the construction.
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<br />Beneficiary's riqht to perform for Trustor shi'lll not create an obligation to perform. and Beneficiary's fijiltJre to perform
<br />,,'IIi 'i'.JI fJI'-;c.l.idt; L'<:'IIt;IICldIY tlOll1 UJ(UICISIII\j ClIIY ot belletlcldlY'S other fights Wider the law or thiS Deed ut 1rllst. t\ny
<br />cllnounts paid by Beneficiary for insuring, preserving or otherwise protecting the Property and Beneficiary's security
<br />interest will be due on demand and will beal interest from the date of the paynlent until paid in full at the interest rate
<br />inerfe(;t tlOIl) time to titne accor\1111Q t<) the tel r)ls of ttle EVld:~(lce of Debt.
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<br />14. ASSIGNMENT OF LEASES AND RENTS. Grantor irrevocably assigns, grants and conveys to Lender as additional
<br />security all the right, title and interest in the follOWing (Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use
<br />and occupancy of the Property, including but not limited to, any extensions, renewals, modifications or
<br />replacements (Leases).
<br />B. Rents, issues and profits, including but not limited to, security deposits, minimum rents, percentage rents,
<br />additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable taxes,
<br />insurance premium contributions, liquidated damages following default, cancellation premiums, "loss of rents"
<br />insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles,
<br />11.:1 r!1, :\;1:' ,11/,1 ',.:!"inl:-; which Cr:w,fol n,ij'y h.-,,\,,; thi.lt il'l C1IIY way ptJrtaill to UI L"i~ UI; iji,;,:Ulillt uf 11113 lic,i, UI
<br />occupancy at the whole or any part of the Property (Rents).
<br />III the event ,my item listed as Leases or Rents is determined to be personal property, this Assignment will also be
<br />regarded as a security agreement.
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<br />Grantor will promptly provide Lender with copies of the Leases and will certify these Leases are true cHld correct
<br />copies. The existing Leases will be provided on execution of the Assignment, and all future Leases and any other
<br />information with respect to these Leases will be provided immediately after they are executed. Grantor may collect,
<br />receive, enjoy and use the Rents so long as Grantor is not in default. Grantor will not collect in advance any Rents due
<br />III tuture lease periods, unless Grantor first obtains Lender's written consent. Upon default, Grantor Will receive any
<br />Rents in trust for Lender and Grantor will not commingle the Rents with any other funds. When Lender so directs,
<br />Grantor will endorse and deliver any payments of Rents from the Property to Lender. Amounts collected will be applied
<br />at Lender's discretion to the Secured Debts, the costs of managing, protecting and preserving the Property, and other
<br />necessary expenses. Grantor agrees that this Security Instrument is immediately effective between Grantor and Lender
<br />fHld effective ilS to third parties on the recordinq of this Assignment,
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<br />Exficid: '''' '"0 , ~",." ",<0", '"d' "000. MM '''''' 'CCO"'" MC '" moo, ~
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<br />(P"98 3 01 8)
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