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<br />200602~87 .~}
<br />Loan No: 1309157 RE-RECORDEO
<br />20JlB02363
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />110600817
<br />
<br />Page 3
<br />
<br />the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All such expenses will become a part of the Indebtedness
<br />and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable
<br />with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the
<br />Note; or (e) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of Trust also will secure payment
<br />of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.
<br />
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all liens and
<br />encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final title opinion
<br />issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and (b) Trustor has the full right, power, and authority to
<br />execute and deliver this Deed of Trust to Lender.
<br />
<br />Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property against
<br />the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the interest of Trustee or
<br />Lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. Trustor may be the nominal party in such proceeding,
<br />but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, and
<br />Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such
<br />participation.
<br />
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable laws,
<br />ordinances, and regulations of governmental authorities.
<br />
<br />Survival of Representations and Warranties. All representations, warranties, and agreements made by Trustor in this Deed of Trust shall
<br />survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect until such time
<br />as Borrower's Indebtedness shall be paid in full.
<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, 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.
<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 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 Borrower which Borrower is authorized or required to deduct
<br />from 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
<br />Lender 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
<br />made by Borrower.
<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 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:
<br />
<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.
<br />
<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:
<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 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 />rer~Q~$ the c~se may !;?e, at such ti!1l;S ~j!Ull~Ch offices and places as Lender may deem appropriate, any and all such mortgages,
<br />deeds of trust, security deeds, securItY gr~ .n........I1fl ~................,\NI'~...-..., ~_..ulh..., L..ih_._.. -.II ~.... ~e;"--
<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) Borrower's and Trustor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2)
<br />the liens and security interests created by this Deed of Trust as first and prior liens on the Property, whether now owned or hereafter
<br />acquired by Trustor. Unless prohibited by law or Lender agrees 10 the contrary in writing, Trustor shall reimburse Lender for all costs and
<br />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 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
<br />opinion, to accomplish the matters referred to in the preceding paragraph.
<br />
<br />FULL PERFORMANCE. If Borrower and Trustor pay all the Indebtedness, including without limitation all future advances, when due, and Trustor
<br />otherwise performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full
<br />reconveyance and shall execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing Lender's
<br />security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted by applicable
<br />law.
<br />
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
<br />
<br />Payment Default. Borrower fails to make any payment when due under the Indebtedness.
<br />
<br />Other Defaults. Borrower or Trustor fails to comply with or to perform any other term, obligation, covenant or condition contained in this
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