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<br />Loan No: 807629
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<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200809324
<br />
<br />Page 3
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<br />would materially affect Lender's interests in the Property, then lender on Trustor's behalf mey, but is not required to, teke sny action that
<br />lender believes to be appropriate to protect Lender's interestll. All expenses incurred or paid by Lender for such purposes will then bear
<br />interest at the rate charged under the Note from the date incurred or peid by lender to the date of repayment by Trustor. All such
<br />expenses will become a part of the Indebtedness and, at lender's option, will (AI be payable on demand; (B) be added to the balance of
<br />the Note and be apportioned among and be payable with eny Installment peyments to become due during either (1) the term of any
<br />applicable insurance policy; or (2) the remaining term of the Note; or (C) be treeted as a balloon payment which will be due and payable
<br />at the Note's mllturity. The Deed of Trust also will secure payment of these emounts. The rights provided for in this paragrllph shall be in
<br />addition to any other rights or any remedies to which lender may be entitled on account of any default. Any such action by lender shall
<br />not be construed as curing the default so 1I11 to bar Lender from eny remedy thet it otherwise would have had.
<br />
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a pert of this Deed of Trust:
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<br />Title. Trustor warrants that: la) Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than tholle set forth in the Real Property description or In the Existing Indebtedness section below or in
<br />eny title insurance policy, title report, or final title opinion Issued in fevor of, and aCCepted by, Lender In connection with this Deed of
<br />Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to lender.
<br />
<br />Defense of Title. Subject to the exception in the paregraph above, Trustor warrllnts and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any action or proceeding is commenced thet questions Trustor's title or the
<br />interest of Trustee or lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. Trustor may be the
<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 ceuse to be delivered, to lender such Instruments as lender mllY
<br />request from time to time to permit such partlcipetlon.
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<br />COmpllllnCe With Laws. Trustor warrants that the Property and Trustor's use of the Property compiles with all existing eppllceble
<br />laws, ordinllnces, and regulations of governmental euthoritles.
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<br />Survlvel of Promises. All promilles, agreements, and statements Trustor hall mede 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 Borrower's
<br />Indebtedness Is paid in full.
<br />
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
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<br />Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be Secondary and inferior to an existing lien. Trustor
<br />expressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any default on such
<br />indebtedness, any default under the instruments evidencing such Indebtedness, or any default under any security documents for such
<br />indebtedness.
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<br />No Modification. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other security
<br />agreement which has priority over this Deed of Trust by which that agreement III modified, amended, extended, or renewed without
<br />the prior written consent of lender. Trustor shall neither request nor accept eny future edvances under any such security agreement
<br />without the prior written consent of Lender.
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<br />CONDEMNATION. The following provisions relating to condemnation proceedings ere a part of this Deed of Trust:
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<br />Proceedings. If any proceeding In condemnation is flied, Trustor shall promptly notify Lender in writing, and Trustor shall promptly
<br />take such steps ss 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. snd Trustor will deliver or cause to be delivered to lender such instruments and documentation as may be requested by
<br />lender from time to time to permit such perticipatlon.
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<br />Application of Net Proceedll. 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 eny portion of the net proceeds of the award be appllad
<br />to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award aher 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 cherges are a part of this Deed of Trust:
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<br />Current Taxes, Fees and ChargBs. Upon request by lender, Truator ahall execute such documents in addition to this Deed of Trust
<br />and take whatever other ection is requested by lender to perfect and continue lender's lien on the Real Property. Trustor shall
<br />reimburse lender for ell taxes, as dascrlbed below, together with all expenses Incurred In recording, perfecting or continuing this Deed
<br />of Truat, including without limitation all taxes, fees, documentery stamps, and other cherges for recording or registering this Deed of
<br />Trust.
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<br />Taxes. The following shall constitute taxes to which this section applies: 11) a specific tax upon this type of Deed of Trust or upon
<br />all or eny part of the Indebtedness secured by this Deed of Trust; (2) s specific tax on Borrower which Borrower is authorized or
<br />required to deduct from paymentll 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 Note; and (4) a specific tax on all or sny portion of the Indebtedness or on
<br />payments of principal and Interest made by Borrower.
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<br />Subsequent Texes. If eny tax to which this section applies Is enacted subsequent to the date of this Deed of Trust, this event shall
<br />have the aame effect as an Event of Default, and lender mey exercise eny or all of It II aveileble remedies for an Event of Defeult as
<br />provided below unless Trustor either (1) peys the tax before it becomes delinquent, or (2) contests the tax as provided above in the
<br />Texes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfectory to lender.
<br />
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following pro via Ions 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 eny of the Property constitutes fixtures, and
<br />lender shall have all of the rights Of a secured party under the Uniform Commercial Code liS 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. In eddltion to recording this Deed of Trust in the real property records, Lender may, at any
<br />time and without further authorization from Trustor. file executed counterperts, 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
<br />default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble any
<br />Personal Property not affixed to the Property in a manner and at e place reallonably convenient to Trustor and lender and make it
<br />available to lender within three (31 days after receipt of written demand from Lender to the extent permitted by applicable law.
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<br />Addresses. The mailing addresses of Trustor (debtor) and lender (secured 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 steted on the first
<br />page of this Deed of Trust.
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<br />FURTHER ASSURANCES; ATTORNEY-IN.FACT. The following provisions releting 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 flied, recorded,
<br />reflled, or rerecorded, as the case may be, at such times and In such offices and places as lender may deem eppropriate, any end all
<br />such mortgages, deeds of trust, security deeds, security egreements, flnenclng statements, continuation statements, Instruments of
<br />further assurance, certlficetes, 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 I Borrower's and Trustor's obligations under the Note, this Deed of Trust, and
<br />the Related Documents, and (2) the Iians and security interests created by this Deed of Trust on the Property, whether now owned
<br />or hereafter acquired by Trustor. Unless prohibited by law or lender agrees to the contrary in writing, Trustor shall reimburSe lender
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