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<br />(i ;' I I ! I f 1 I" ~, ~; I' <br /> <br />DEED OF TRUST <br />(Continued) <br /> <br />200900040 <br /> <br />Page 4 <br /> <br />Loan No: 89134 <br /> <br />incurred by Trustor and/or Lender), for the purpose of: (a) replacing or restoring the condemned, expropriated, confiscated, or taken <br />Property; or (b) reducing the then outstanding balance of the Indebtedness, together with interest thereon, with such payments being <br />applied in the manner provided in this Deed of Trust. Lender's receipt of such condemnation proceeds and the application of such <br />proceeds as provided in this Deed of Trust shall not affect the lien of this Deed of Trust. <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: <br /> <br />Current Taxes, Fees end Charges. Upon request by Lender, Trustor shall execute such documents in addition 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. <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 <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 Note; and (4) a specific tax on all or any portion of the Indebtedness or on <br />payments of principal and interest made by Trustor. <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 <br />have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as <br />provided below unless Trustor either (1) pays 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: <br /> <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. <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 <br />may, at any time and without further authorization from Trustor, file executed counterparts, copies or reproductions of this Deed of <br />Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security <br />interest. Upon default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall <br />assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor and Lender <br />and make it available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable <br />law. <br /> <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 stated on the first <br />page of this 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 <br />this 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 <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 Note, this Deed of Trust, and the Related <br />Documents, and (2) the liens and security interests created by this Deed of Trust on the Property, whether now owned or hereafter <br />acquired by Trustor, Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender for all costs <br />and 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 <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. <br /> <br />FULL PERFORMANCE. If Trustor pays all the Indebtedness, including without limitation all future advances, when due, and otherwise <br />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 <br />Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if <br />permitted by applicable 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. Trustor fails to make any payment when due under the Indebtedness. <br /> <br />Other Defaults. Trustor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Deed of <br />Trust or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any <br />other agreement between lender and Trustor, <br /> <br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note <br />or in any of the Related Documents. <br /> <br />Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or <br />insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien. <br /> <br />Default in Favor of Third Parties. Should Trustor default under any loan, extension of credit, security agreement, purchase or sales <br />agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Trustor's property or <br />Trustor's ability to repay the Indebtedness or perform their respective obligations under this Deed of Trust or any of the Related <br />Documents. <br /> <br />False Statements. Any warranty, representation or statement made or furnished to lender by Trustor or on Trustor's behalf, or made <br />by Guarantor, or any other guarantor, endorser, surety, or accommodation party, under this Deed of Trust or the Related Documents <br />in connection with the obtaining of the Indebtedness evidenced by the Note or any security document directly or indirectly securing <br />repayment of the Note is false or misleading in any material respect, either now or at the time mede or furnished or becomes false or <br />misleading at any time thereafter. <br /> <br />Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (including failure <br />of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason. <br /> <br />Death or Insolvency. The dissolution of Trustor's (regardless of whether election to continue is made), any member withdraws from <br />the limited liability company, or any other termination of Trustor's existence as a going business or the death of any member, the <br />insolvency of Trustor, the appointment of a receiver for any part of Trustor's property, any assignment for the benefit of creditors, any <br />type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor. <br /> <br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, <br />repossession or any other method, by any creditor of Trustor or by any governmental agency against any property securing the <br />Indebtedness. This includes a garnishment of any of Trustor's accounts, including deposit accounts, with lender, However, this <br />Event of Default shall not apply if there is a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the <br />basis of the creditor or forfeiture proceeding and if Trustor gives lender written notice of the creditor or forfeiture proceeding and <br />