|
<br />'i \ i
<br />
<br />, I. I,J (,,"; ~.' t, "
<br />\' "J
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200901707
<br />
<br />Page 3
<br />
<br />WARRANTY; DEFENSE OF TITLE. The f.oll.owing pr.ovisi.ons relating ta .ownership .of the Pr.operty are a part .of this Deed .of Trust:
<br />
<br />Title. Trustar warrants that: (a) Trust.or h.olds g.o.od and marketable title .of rec.ord t.o the Pr.operty in fee simple, free and clear .of all
<br />liens and encumbrances ather than th.ose set farth in the Real Praperty descripti.on .or in the Existing Indebtedness secti.on belaw .or in
<br />any title insurance p.olicy, title report, or final title apinian issued in fav.or .of, and accepted by, Lender in c.onnecti.on with this Deed .of
<br />Trust, and (b) Trustar has the full right, pawer, and auth.ority t.o execute and deliver this Deed .of Trust t.o Lender.
<br />
<br />Defense .of Title. Subject t.o the excepti.on in the paragraph ab.ove, Trust.or warrants and will farever defend the title t.o the Praperty
<br />against the lawful claims .of all persans. In the event any acti.on .or praceeding is cammenced that questi.ons Trustar's title .or the
<br />interest .of Trustee .or Lender under this Deed .of Trust, Trust.or shall defend the actian at Trust.or's expense. Trustar may be the
<br />n.ominal party in such pr.oceeding, but Lender shall be entitled ta participate in the pr.oceeding and t.o be represented in the pr.oceeding
<br />by caunsel .of Lender's awn ch.oice, and Trust.or will deliver, .or cause ta be delivered, t.o Lender such instruments as Lender may
<br />request fr.om time t.o time t.o permit such participatian.
<br />
<br />Compliance With Laws. Trustar warrants that the Pr.operty and Trustar's use .of the Property c.omplies with all existing applicable
<br />laws, .ordinances, and regulati.ons .of g.overnmental authorities.
<br />
<br />Survival .of Promises. All pr.omises, agreements, and statements Trustar has made in this Deed .of Trust shall survive the executian
<br />and delivery .of this Deed .of Trust, shall be c.ontinuing in nature and shall remain in full farce and effect until such time as Trust.or's
<br />Indebtedness is paid in full.
<br />
<br />EXISTING INDEBTEDNESS. The f.oll.owing pr.ovisi.ons c.oncerning Existing Indebtedness are a part .of this Deed .of Trust:
<br />
<br />Existing Lien. The lien .of this Deooof Trust securing the Indebtedness may be secandary and-iAferior to an existing lien. Trustar
<br />expressly cavenants and agrees to pay, .or see t.o the payment .of, the Existing Indebtedness and ta prevent any default an such
<br />indebtedness, any default under the instruments evidencing such indebtedness, .or any default under any security d.ocuments far such
<br />indebtedness.
<br />
<br />No Madification. Trust.or shall n.ot enter inta any agreement with the halder .of any m.ortgage, deed .of trust, .or ather security
<br />agreement which has pri.ority aver this Deed .of Trust by which that agreement is m.odified, amended, extended, .or renewed withaut
<br />the pri.or written c.onsent .of Lender. Trustar shall neither request nar accept any future advances under any such security agreement
<br />with.out the prior written c.onsent of Lender.
<br />
<br />CONDEMNATION. The f.oll.owing provisians relating ta candemnatian praceedings are a part.of this Deed .of Trust:
<br />
<br />Proceedings. If any pr.oceeding in c.ondemnation is filed, Trustar shall pramptly n.otify Lender in writing, and Trustar shall pramptly
<br />take such steps as may be necessary ta defend the acti.on and .obtain the award. Trustar may be the naminal party in such
<br />proceeding, but Lender shall be entitled ta participate in the pr.oceeding and t.o be represented in the praceeding by caunsel .of its awn
<br />chaice, and Trustar will deliver .or cause t.o be delivered t.o Lender such instruments and dacumentatian as may be requested by
<br />Lender fram time ta time ta permit such participati.on.
<br />
<br />Applicatian .of Net Proceeds. If all .or any part .of the Pr.operty is c.ondemned by eminent domain praceedings .or by any praceeding .or
<br />purchase in lieu of condemnatian, Lender may at its electi.on require that all .or any p.orti.on .of the net praceeds .of the award be applied
<br />to the Indebtedness .or the repair .or restaratian .of the Pr.operty. The net pr.oceeds .of the award shall mean the award after payment .of
<br />all reasanable casts, expenses, and att.orneys' fees incurred by Trustee .or Lender in c.onnectian with the candemnatian.
<br />
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The f.oll.owing pr.ovisi.ons relating to gavernmental
<br />taxes, fees and charges are a part .of this Deed .of Trust:
<br />
<br />Current Taxes, Fees and Charges. Upan request by Lender, Trustar shall execute such d.ocuments in additian to this Deed .of Trust
<br />and take whatever ather actian is requested by Lender t.o perfect and c.ontinue Lender's lien an the Real Praperty. Trustar shall
<br />reimburse Lender far all taxes, as described bel.ow, t.ogether with all expenses incurred in recarding, perfecting .or cantinuing this Deed
<br />.of Trust, including with.out limitati.on all taxes, fees, d.ocumentary stamps, and ather charges far rec.ording .or registering this Deed .of
<br />Trust.
<br />
<br />Taxes. The f.oll.owing shall c.onstitute taxes t.o which this secti.on applies: (1) a specific tax upan 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 an Trust.or which Trust.or is autharized or
<br />required t.o deduct from payments on the Indebtedness secured by this type .of Deed .of Trust; (3) a tax an this type .of Deed of Trust
<br />chargeable against the Lender .or the halder .of the Credit Agreement; and (4) a specific tax an all .or any portian .of the Indebtedness
<br />.or an payments .of principal and interest made by Trustar.
<br />
<br />Subsequent Taxes. If any tax t.o which this sectian applies is enacted subsequent ta 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 />pravided below unless Trustar either (1) pays the tax befare it becames delinquent,.or (2) c.ontests the tax as provided abave in the
<br />Taxes and Liens secti.on and dep.osits with Lender cash .or a sufficient c.orp.orate surety band or other security satisfact.ory t.o Lender.
<br />
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The f.oll.owing pr.ovisi.ons relating t.o this Deed .of Trust as a security agreement are a
<br />part .of this Deed .of Trust:
<br />
<br />Security Agreement. This instrument shall c.onstitute a Security Agreement t.o the extent any .of the Property c.onstitutes fixtures, and
<br />Lender shall have all .of the rights .of a secured party under the Unif.orm Cammercial Cade as amended fr.om time t.o time.
<br />
<br />Security Interest. Upan request by Lender, Trust.or shall take whatever acti.on is requested by Lender ta perfect and cantinue Lender's
<br />security interest in the Pers.onal Pr.operty. In additi.on t.o rec.ording this Deed .of Trust in the real property recards, Lender may, at any
<br />time and withaut further autharizati.on fr.om Trust.or, file executed c.ounterparts, c.opies .or reproductians .of this Deed .of Trust as a
<br />financing statement. Trust.or shall reimburse Lender far all expenses incurred in perfecting or continuing this security interest. Up.on
<br />default, Trust.or shall n.ot rem.ove, sever .or detach the Pers.onal Pr.operty fram the Property. Upan default, Trust.or shall assemble any
<br />Pers.onal Pr.operty n.ot affixed t.o the Pr.operty in a manner and at a place reasanably convenient ta Trust.or and Lender and make it
<br />available t.o Lender within three (3) days after receipt .of written demand fram Lender ta the extent permitted by applicable law.
<br />
<br />Addresses. The mailing addresses .of Trustor (debt.or) and Lender (secured party) fram which inf.ormati.on c.oncerning the security
<br />interest granted by this Deed of Trust may be .obtained (each as required by the Unifarm C.ommercial Cad e) are as stated an the first
<br />page .of this Deed of Trust.
<br />
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The fallawing pravisians relating ta further assurances and att.orney-in-fact are a part of
<br />this Deed .of Trust:
<br />
<br />Further Assurances. At any time, and fr.om time t.o time, up.on request .of Lender, Trust.or will make, execute and deliver, .or will cause
<br />t.o be made, executed .or delivered, t.o Lender .or t.o Lender's designee, and when requested by Lender, cause t.o be filed, rec.orded,
<br />refiled, Dr r&fecorded, as the case may be, at $Uch times and in ~uch .offices and placl":!s (IS lender may deem--a:pproprittte,.6rty -and- all
<br />such martgages, deeds .of trust, security deeds, security agreements, financing statements, continuatian statements, instruments .of
<br />further assurance, certificates, and ather d.ocuments as may, in the sale .opini.on .of Lender, be necessary .or desirable in .order ta
<br />effectuate, c.omplete, perfect, cantinue, .or preserve (1) Trust.or's obligatians 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 an the Praperty, whether naw awned
<br />or hereafter acquired by Trust.or. Unless prohibited by law .or Lender agrees to the cantrary in writing, Trust.or shall reimburse Lender
<br />far all casts and expenses incurred in c.onnecti.on with the matters referred ta in this paragraph.
<br />
<br />Attorney-in-Fact. If Trustar fails ta d.o any .of the things referred ta in the preceding paragraph, Lender may d.o sa far and in the name
<br />.of Trust.or and at Trust.or's expense. Far such purp.oses, Trust.or hereby irrevacably app.oints Lender as Trust.or's att.orney-in.fact for
<br />the purpase .of making, executing, delivering, filing, recarding, and daing all other things as may be necessary .or desirable, in Lender's
<br />sale .opinian, ta accamplish the matters referred ta in the preceding paragraph.
<br />
<br />FULL PERFORMANCE. If Trustar pays all the Indebtedness when due, terminates the credit line accaunt, and .otherwise perf.orms all the
<br />abligatians imp.osed up.on Trust.or under this Deed .of Trust, Lender shall execute and deliver t.o Trustee a request far full rec.onveyance and
<br />shall execute and deliver t.o Trustar suitable statements .of terminati.on .of any financing statement an file evidencing Lender's security
<br />interest in the Rents and the Persanal Property. Any recanveyance fee required by law shall be paid by Trustar, if permitted by applicable
<br />
|