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Loan No; 809638 DEED OF TRUST (Continued) 200806301 Page 3 balance of the Note and be apportioned among and be payable with any inatallment payments to become due during either (1) the term of any applicable insurance pOlicy; or (2) the remaining term of the Note; or (e) be treated as a bslloon payment which will be due and payable at the Note's msturity, The Deed of Trust also will secure psyment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust: Title. Trustor warrsnts that' (a) Trustor holds good and marketable title of record to the Property in fee simple. free and clear of all liens and encumbrances other than those set forth in the Resl Property description or in any title insurance pOlicy. title report, or final title opinion Issued In favor of, snd accepted by, Lender in connection with this Deed of Trust, and (b) Trustor has the full right, power, and authority to execute snd deliver this Deed of Trust to Lender. Defen.e of Title. Subject to the exception in the paragraph above, Trustor wsrrants and will forever defend the title to the Property against 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 Lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. Trustor may be the nominal party in such proceeding, but Lender shell be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, and Trustor will deliver, Or cause to be delivered, to Lender such Instruments sS Lender may request from time to time to permit such participation. Compllence With Law.. Trustor warrants that the Property and Trustor's use. of the Property complies with all existing applicable laws, ordinances, and regulations of governmental authorities. Survlvel of Repre..ntatlon. and Warranties. All representations, Warranties, and agreements made by Trustor in this Deed of Trust shall survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shell remain in full force and effect until such time as Trustor's Indebtedness shall be paid in full, CONDEMNATION, The following proviSiOns relating to condemnation proceedings are a part of this Deed of Trust: Proceeding.. If any proceeding in condemnation is filed. Trustor shall promptly notify Lender in writing, and Trustor shall promptly take such steps as may be necesaary to defend the action and obtain the award. Trustor may be the nominal party in such proceeding, but Lender shall be entitled to participate In the proceeding and to be represented in the proceeding by counsel of Its own choice, and Trustor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit such participation. Application of Net Proceeda. If all or any part of the Property Is condemned by eminent domain procsedings 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 attorneya' 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 Taxe., Fees end Chergee. Upon request by Lender, Trustor shsll execute auch documenta 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 reimburae Lender for all taxes, sa 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 Trustor which Trustor 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 Trustor. Subsequent Texes. If any tax to which this section applies is enscted subsequent to the date of this Deed of Trust, this event shall have the same effect as sn Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Trustor either (1) peys 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 ss a security agreement are a part of this Deed of Trust: Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures. and Lender shall have all Of the rights of a secured perty 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 meke it available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by appliceble law. Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information concerning the security interest granted by this Deed of Trust may be obtained leach sa required by the Uniform Commercial Code) are as stated on the first page of this Deed of Trust. FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this Deed of Trust: Further A..urllnCIl.. 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, to Lender Or to Lender's designee, and when requested by Lender, cause to be filed, recorded. reflled, 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, continuetlon stetements, 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) Trustor's obligations under the Note, this Deed of Trust. and the Related Documents, and (21 the liens and security interests crested 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 contrsry in writing. Trustor shall reimburse Lender for all costs and expenses incurred In connection with the matters referred to in this paragraph. Attorney-ln-Fect. 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 ettorney-in-fact for the purpose of making. executing, delivering, filing, recording, and doing all other things as mey be necessary or deslrsble, in Lender's sole opinion, to accomplish the matters referred to in the preceding paragraph. FULL PERFORMANCE. If Trustor pays all the Indebtedness, Including without limitation all future advances, when due. and 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 sultsble statements of termination of any financing stetement on file evidencing Lender's security interest in the Rents and the Personal Property. Any reconveysnce fee required by law shall be paid by Trustor, if permitted by applicablelsw. EVENTS OF DEFAULT. Each of the following, at Lender's option. shell constitute an Event of Default under this Deed of Trust: Peyment Default. Trustor fsils to mske any payment when due under the Indebtedness.