|
<br />Loan No: 0872057383
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200902047
<br />
<br />Page 3
<br />
<br />rights provided for in this paragraph shnll he in addition to any other rights or any remedip.s to which Lender may be entitlp.d on account of
<br />any default. Any such action by Lendp.r shall not bp. construed as curing thp. default so as to bar Lender from any remedy that it otherwise
<br />would have had.
<br />
<br />WARRANTY; DEFENSE OF TITLE. The following provisions rein ling to ownership of the Property me a part of this Deed of Trust:
<br />
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other thim those set forth in thfl Real Propflrty description or in the Existing Indebtedness section below or in
<br />any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lflnder 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 paragraph above, Trustor warrants 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 that questions Trustor's title or the
<br />interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the action flt 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 he represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />request from time to time to permit such participation.
<br />
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ordinances, and regulations of governmental authorities.
<br />
<br />Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execulion
<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 Trustor'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:
<br />
<br />Existing Lien. The lien of this Deed of Trust securing tile Indebtedness may bfJ secondary and inferior to an existing lien. Trustor
<br />expressly covenanlS and agrees to pay, or see to the payment of, the Existing Indebtedness nnd to prevp.nt any default on such
<br />indebtedness, any default under the instruments evidencing such indebtedness, or any default under any security documents for such
<br />indehtedness.
<br />
<br />No Modification. Trustor shall not enter into any agreement with the Iwlder of any mortgagfl, deed of trust, or other security
<br />agreement which has priority over this Deed of Trust by which that ngreement is modified, amended, extended, or renewed without
<br />the prior written consent of Lender. Trustor shall neither request nor accept nny future advances under any such security agreement
<br />without the prior written consent of Lender.
<br />
<br />CONDEMNATION. The following provisions relating to condemnntion proceedings are n pmt of this Deed of Trust:
<br />
<br />Proceedings. If any proceeding in condemnntion is filed, Trustor shall promptly notify Lender in writing, and Trustor shall promptly
<br />take such steps as may be necessary to defend the action and obtain the nward. Trustor may he the norninal party in such
<br />proceeding, but Lender shall he entitled to participflte in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and 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 participation.
<br />
<br />Application of Net Proceeds, 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 any portion of tile net proceeds of the award be applied
<br />to the Indebtedness or the mpair or restoration of tile Property. The net proceeds of the nward shall mean the award after payment of
<br />all reasonable costs, expenses, and attorneys' fees incurred by Trustee or L.ender 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 charges are a part of this Deed of Trust:
<br />
<br />CUrrent Taxes. Fees and 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 hy Lender to perfect and continue Lender's lien on the Real Property. Trustor shall
<br />reimburse Lender for all taxes, <'IS described helow, together with all expenses incurred in recordin~l, perfecting or continuing this Deed
<br />of Trust, including witl10ut limitation oil taxes, fees, documentary stnmps, and other charges for recording or registering this Deed of
<br />Trust.
<br />
<br />Taxes. The following sholl constitute taxes to whiCh this section applies: (1) a specific tax upon this type of Deed of Trust or upon
<br />nil or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Trustor wl1ich 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 />chargeoble against the Lender or the holder of the Credit Agreement; and (4) a specific tax on oil or any portion of the Indebtedness
<br />or on payments of principnl and interest made hy 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 LendP.l may exercise any or all of its available remedies for an Event of Default ns
<br />provided below unless Trustor either (1) pays the tax bp.fore it becomes delinquent, or (2) contests the tax as provided above in the
<br />Taxes nnd 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 Commercinl Code ns amended from time to time.
<br />
<br />Security Interest. Upon request by Lender, Trustor shall take whatever nction is requested by Lender to perfect and continue Lender's
<br />security interest in the Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, ot any
<br />time and without further authorization from Trustor, file executed counterparts, 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 Personnl Property from the Property. Upon default, Trustor shall assemble any
<br />Personal Property not affixed to the Property in a manner nnd at a plnce reasonably convenient to Trustor ond Lender and make it
<br />available to Lender within three (3) days after receipt of written demand from Lender to tile extent permitted hy applicable law.
<br />
<br />Addresses. The mailing Ilddresses of Trustor (debtor) and Lender (secured pnrty) from which information concerning the security
<br />interest granted hy this Deed of Trust may be obtained (ench as required by tile 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..fllct 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 mnke, execute and deliver, or will cause
<br />to be made, executed or delivered, to Lender or to Lender's designee, and when requested hy Lender, cause to be filed, recorded,
<br />refiled, or rerecorded, as the cose may be, at such times Imd in such offices and places as Lender may deem nppropriate, any and all
<br />such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation stntements, instruments of
<br />further Ilssurance, certificates, and otl1er 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 Credit Agreement, this Deed of Trust, and
<br />the Related Documents, and (2) the liens and security interests crented by this Deed of Trust on the Property, whether now owned
<br />or hereafter acquired by Trustor. Unless prohibited hy law or Lender ngrees to the contrary in writing, Trustor shall reimburse Lender
<br />for all costs 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 porngraph, Lender may do so for And in the name
<br />of Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably nppoints Lp.nder as Trustor's attorney-in-fllct for
<br />the purpose of milking, 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 paragrnph.
<br />
<br />" t
<br />
|