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<br />Loan No: 0872056849
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<br />DEED OF TRUST
<br />( Continued)
<br />
<br />200803035
<br />
<br />Page 3
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<br />nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />request from time to time to permit such participation.
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<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ordinances, and regulations of governmental authorities.
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<br />Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execution
<br />and delivery of this Deed of Trust, shall be continuing in nature and shall remain in full force and effect until such time as Trustor's
<br />Indebtedness is paid in full.
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<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 shllll promptly
<br />take such steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and Trustor will deliver or Clluse to be delivered to Lender such instruments and documentation as may be requested by
<br />Lender from time to time to permit such pllrticipation.
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<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminent dOlT1oin 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:
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<br />Current Taxes. Fees and Charges. Upon request by Lender, Trustor shall execute such documents in Ilddition 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.
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<br />Taxes. The following sholl 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 Credit Agreement; and (4) a specific tax on all or any portion of the Indebtedness
<br />or on payments of principal and interest made by 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
<br />have the same effect as an Event of Default, and Lender may exercise any or all of its availllble remedies for an Event of Default os
<br />provided below unless Trustor either (1) poys 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:
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<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures. and
<br />Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
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<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. ]n addition to recording this Deed of Trust in the mal property records, Lender may, at any
<br />time and without further authorization from Trustor, file executed counterparts, copies or reproductions 6f 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 defoult, 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 mllke it
<br />availllble to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable law.
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<br />Addresses. The mlliling Ilddresses of Trustor (debtor) and Lender (!'lecumd 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.
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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
<br />this 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
<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 Credit Agreement, this Deed of Trust, and
<br />the Related Documents, and (2) the liens and security interests created by this Deed of Trust on the Property, whether now owned
<br />or hereafter acquired by Trustor. Unless prohibited by Illw or Lender agrees to the contrary in writing, Trustor shllll reimburse Lender
<br />for all costs and expenses incurred in connection with the matters referred to in this paragraph.
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<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 the preceding paragraph.
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<br />FULL PERFORMANCE. If Trustor pays all the Indebtedness when due, terminates the credit line account, and otherwise performs all the
<br />obligations imposed upon Trustor under this Deed of Trust, Lender sholl execute and deliver to Trustee a request for full reconveyance and
<br />shall execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing Lender's security
<br />interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted by applicoble
<br />law.
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<br />EVENTS OF DEFAULT. Trustor will be in default under this Deed of Trust if any of the following happen: (A) Trustor commits fraud or
<br />makes a material misrepresentation at any time in connection with the Credit Agreement. This clln include, for example, a false statement
<br />about Trustor's income, assets, liabilities, or any other aspects of Trustor's financial condition. (B) Trustor does not meet the repayment
<br />terms of the Credit Agreement. (C) Trustor's action or inaction adversely affects the collateral or Lender's rights in the collateral. This
<br />can include, for example, failure to maintoin required insurance, waste or destructive use of the dwelling, failure to pay taxes, death of all
<br />persons liable on the account, transfer of title or sale of the dwelling, creation of a senior lien on the dwelling without Lender's permission,
<br />foreclosure by the holder of another lien, or the use of funds or the dwelling for prohibited purposes.
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<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust. at any time thereafter, Trustee or Lender
<br />may exercise anyone or more of the following rights and remedies:
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<br />Acceleration Upon Default; Additional Remedies. If any Event of Default occurs as per the terms of the Credit Agreement
<br />secured hereby, Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and the some shall
<br />thereupon become due and payable without any presentment, demond, protest or notice of any kind, Thereafter, Lender may:
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<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and
<br />without regard to the adequacy of its security, enter upon and take possession of the Property, or any part thereof, in its
<br />own name or in the name of Trustee, and do any acts which it deems necessary or desimble to preserve the value,
<br />marketability or rentability of the Property, or part of the Property or interest..in t~~ Prpf.lfr~~; ,i[1Cf"f: the income from the
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