|
200905559
<br />r DEED OF TRUST
<br />Loan No: 101222722 1Continued~ Page 4
<br />... ,
<br />Compliance With Laws. Trustor warrants that the Property and l`rustor's use of the Property complies with all existing applicable
<br />_._... laws, ordinances, and-r®gu{a.Lions-of•,.goue~nmef-tal,.authorities•, ....~ _.:.:_ .... ........ ...
<br />Survival of RepresQntations and Warranties. All representations, warren#ies, and agreements made by Trustor in this Deed of Trust
<br />shall' survive the execution and delivery of this "Deed of Trust; shall be continuing in nature, and shall- remain in full foree and effect
<br />until such time as Trustor's Indebtedness shall be paid in full..
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation 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 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, and Trustor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by
<br />Lender from time tc time to permit such participation.
<br />Applica#ivn 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 the net proceeds of the award be applied
<br />to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of
<br />all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES 8Y GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this Deed of Trust:
<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 by Lender tp 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 Desd of
<br />Trust.
<br />Taxes. The following shall constitute'taxes "td-v"vfiirrli~ this secfiorR appliesi TT) a specific tax upon this type of Deed of Trust or upon ' ~ '
<br />"' all or any part 'of "the ' Indebtddhess secured by this Dedd bf"Trust; ' '12-'"' a' specific tax an Trustor which Trustor' is authorized or
<br />required,to dedyct #rom payments ora,the Indebtedness secured by this ,type,-of Deed. of Trust;. (3) a,tax,on thi& #ype pf,,Dasd of,,7rust , ..
<br />chargeable:against:,the Lender or the. hplder.of the„Note; and. 141. -.,a.specific.tax on all or any portion of..the Indebtedness. or on ,, .,. ,
<br />,, payments of principal ~and,interest.made by Trustor. ,
<br />`"'° ` • Subsequent Taxes. I'~°any tax to which '
<br />this section"applies is'briac'ted subsequent to the date of this Deed of TruSfi, 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 uhlass Trustor either C11` pays'the t'ak before it becomes delinquent, or (21 contests the tax as provided above in the ` '
<br />Taxes ahd Liens saCtioh ahd deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender:
<br />SECURITY. AGREEMENT; FINANCING STAT-EMENTS. Tk1e following provisions relating to this. Deed of Trust as. a security; agreement area
<br />part of this Deed cf Trust: .
<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 ofahe rights of. a secured party .under the Uniform Commercial Code as amended from time to-time...
<br />5ecui•ity Interest. 'Upoh request by Lender, Trustor shall take whatever action is requested by Lender to perfect and cohtinue 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-qr reproductipns of this peed of
<br />Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security
<br />" interest. Updn default, Trustor"shall riot remove; sevef or detach the Persoral Property from the Property: Upon 'default, Trustor.shall
<br />assemble any Personal Property not atfixed 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 131 days after receipt of written demand from Lender to the extent permitted by applicable
<br />law.
<br />Addresses. The mailing addresses pf Trustor (debtor) and Lender (secured party) from which information concerning the security
<br />interest granted by this Deed of Trust may be obtained leach as required by the Uniform Commercial Code) are as stated on the first
<br />page of this Deed of Trust.
<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 />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 111 Trustor's obligations under the Note, this Deed of Trust, and the Related
<br />Documents, and 12- the liens and security interests created by this Deed of Trust as first and prior liens on the Property, whether
<br />now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall
<br />reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this paragraph.
<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 far
<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 />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 />
|