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~. ...., '. 9t I'i Loan No: 6783~':'1k " C !! ~ ; DEED OF TRUST (Continued) 200804318 Page 3 of these amounts. Such right shall be in addillon to all other rights and remedies to which Lender may be entilled upon Default. WARRANTY; m::FENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust: Title. trustor warrants that: (a) Trustor holds good and marketable title of record to the Pr?perty in fee s,imple, free and clear of all liens ~nd encumbrances other than those set forth in the Real Property description or in any Iille Insurance POliCY, tille, report, or final Iille opinion issued ih favor of, and accepted by, Lender in connection with this Deed of Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender. Defense of Title. . Subject to the exception in the paragraph above, Trustor warrants and will forever defend the tille to ,the Property against the lawful claims of all persons, In the event any action or proceeding is commenced that questions Trustor's 1i~le or the I~terest of Trustee or Lender under this Deed of Trust, Trustor shall defend the aelion at Trustor's expense. Trustor may be the nominal party I~ such proceeding, but Lender shall be entilled to participate in the proceeding and to be represented In the proceeding by counsel.of Lender s own chol~e, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such participation, Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable laws, ordinances, and regulations of governmental authorities. SlJrViV81 of Representations and W~f!~n~les. All representations, ":,,ar~ant!es, and agreements ma~e ,by Trustor in this Deed of. Trust s,hall sorvive the 'execution and delivery of \'1115 'beed of Trust, shall be continUing In nature, and shall remain In full force and effect until such lime as Borrower's I ndebtedness shall be paid in full. CONDEMNATION. The following provisions relating 10 condemnation proceedings are a part of this Deed of Trust: Proceedings. If any proceeding in condemnation is filed, Trustor shall promplly notify Lender in writing, and !rustor shall promptly take such steps as may be necessary to defend the action and obtain the award. Trustor may be, the nominal party m such pro?eedlng, but Lender shall. be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Its own ch~lce, and Trustor Will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from lime to time to permit such participation. Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or 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 Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonable costs, expenses, and allorneys' fees incurred by Trustee or Lender in connection with the condemnation. IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes, fees and charges are a part of this Deed of Trust: Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of Trust. 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 part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Borrower which Borrower is authorized or 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 chargeable against the 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 made by BQrrower. SUb~qufilnt Taxe$.lf anyJaxJo.'!llbi9hlI:)is.sec!iol1 appllf'!!ljs enacted subsequent to the date of this Deed of Trust, tAis~vent-SAa"Aave the s~ime effect 'as an Event of O'efault, a'nd Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Trustor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender. SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of this Deed of Trust: Security Agreement. This instrument shalt constitute a Security Agreement to the extent any of the Property constitutes fixtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time. Security Interest. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at any time and without further authorization from Trustor, file executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble any Personal 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 within three (3) days after receipt of wrillen demand from Lender to the extent per milled by applicable law. Addresses. The mailing addresses of Trustor (debtor) an,d Lender (secured party) from which information concerning the security interest 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 Deed oITrust. FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and allorney-in-fact are a part of this Deed of Trust: 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 made, executed or delivered, 10 Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, 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 such mortgages, deeds of trust, security deeds,. security agreements, financing statements, continuation statements, instruments of further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or preserve (1) Borrower's and Trustor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2) the liens and security interests created by this Deed of Trust as first and prior liens on the Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender for all costs and expenses incurred in connection with the mailers referred to in this paragraph. 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 Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints Lender as Trustor's allorney-in-fact for the purpose. of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole opinion, to accomplish the mailers referred to in the preceding paragraph. FULL PERFORMANCE. If Borrower and Trustor pay all the Indebtedness when due, and Trustor otherwise performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable statements of termination of any fiMncing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted by applicable law. EVENTS OF DEF AUL T. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust: Payment Default. Borrower fails to make any payment when due under the Indebtedness. Other Defaults. Borrower or Trustor fails to comJ;ly with or to perform any other term, obligation, covenant or condition contained in this Deed of Trust or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement between Lender and Borrower or Trustor. Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note or in any of the Related Documents.