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Loan No: 807825 DEFD OF TRUST ,~ ~ ~ 9 0 ~ g CJ 9 Page 3
<br />(Continued)
<br />any title insurance policy, title repGrt, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br />Trust, and Ibl I rustor has the full right, power, and authority to execute and deliver this peed of,Trust to Lender.
<br />befense 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 11',is Ueed of Trust, Trustor shall defend tyre action at Trustor's expense. Trustor rrtay be the
<br />nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in fire proceeding
<br />by counsel of Lender's own rhoira, and Trustor will deliver, or r•,ause to be cJelivered, to Lender such instruments as Lender stay
<br />request from kirne to time to permit such participation.
<br />Compliance With Laws. Tn.tstor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ordinances, acrd regulations of governmental authorities.
<br />Survival of Promises. All promises, agreements, and statements 'Trusror has made in this Deed of Trust shall survive the execution
<br />and delivery of this Dead of Trust, shall be continuing in nature and shall remain in full force and affect until Such time as Trustor's
<br />Indebtedness is paid in toll.
<br />EXISTING INbEBTEbNESS. The following provisions concerning Existing Indebtedness are a part of this peed of Trust:
<br />Existing Lien. The lien of this .Deed of Trust securing Lhe Indebtedness may be secondary and inferior to an existing lien. Trustor
<br />exl,ressly covenants and agrees to pay, or see to the payntenl of, ttte 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 fur such
<br />indebtedness.
<br />No Modification. Trustor shall not enter into any agreement with the holder of any mortgage, dead of trust, or other security
<br />agreement which has priority aver this Deed of Trust by which that agreement is modified, arne'ncfed, extended, or renewed without.
<br />the prior written consent of Lender. Trustor shall neither requast nor accept any future advances under any such security agreement
<br />without the prior written r,onsent of Lender.
<br />CONDEMNATION. the following provisions relating to condemnation proceedings are a part of this Deed of Trust
<br />IMPOSITION OF TAXES, FEES ANb CHARGES BY GOVERNMENTAL AUTHORITIES
<br />taxes, fees and charges are a part of this Deed of Trust:
<br />The following, provisions retaking to governmental
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such docurrtents in addition to this Deed of Trust
<br />and take whatever other action is requested by Lender to perfect and continue Lender's lien hn the Real Property. Trustor shall
<br />reimburse Lender for all taxes, as described below, together with all expenses incurred to rer..ordiny, perfecting or continuing this peed
<br />of Trust, including without limitation all taxes, fees, documentary stamps, acrd ether charges far recording or registering this Deed of
<br />Trust.
<br />Taxes. The following shall constitute taxes to which this section applies: I1) a specific tax upon this type of heed of Trust or upon
<br />all or' any part of the Indebtedness secured by this Deed of Trust; (21 a speciric tax on Trustor which Trustor is authorized or
<br />required to deduct front payments on the Indebtedness secured by this type of kaeed of ~1-rust; (31 a [ax on this type of teed of 1`rust
<br />chargeable against the Lender or the holder of the Note; ancJ (4) 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. If any tax to which this section applies is enacted subsequent to the date of title Deed of Trust, this even[ shall
<br />have the same effect as an Event of Default, and Lender rttay exercise any or all of its available'rernecJies for an Event of t7efault 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 hand or other security satisfactory to Lender.
<br />S,ECURIl'Y AGREEMENT; FINANCING STA"fEMENTS. The following provisions relating to this Dead of Trust as a security ayreernertt are a
<br />part of this Deed of Trust:
<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
<br />tender shall have all of the righks of a secwed party trader the Uniform Cornrnercial Code as amended from time to time.
<br />Security Interest. Upon reyuesf 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 addition 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 counterparts, copies nr reproductions of this Deed of Trust as a
<br />financing statement. Trustor shall reimburse tender for all expenses incurred in perfecting or continuing this security interest. Upon
<br />default, Trustor shall not remove, sever nr detach the Personal Property from the Prelaerty. Upon default, Trustor shall assemttle any
<br />Personal Prolaerty not affixed to the Property in a manner and at a place reasonably convenient to 'lrusror and Lender and mat<e it
<br />available to Lender within three 13) c aye after receipt or written demand from Lender to the extent permitted by applicable law.
<br />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which infon>lation r,oncerniny the security
<br />intarest granted by this Deed of -trust may kte obtained (each as required by the Uniform Cnrnrnercial Code) era as stated on the first
<br />page of title 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 Dead of Trust;
<br />Further Assurances. At any time, and from ante to time, upon request of Lander, Trustor will r7tal<e, execute and deliver, or will r,ause
<br />[o be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lander, cause to be filed, recorded,
<br />re filed, 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 sfaternertts, instruments of
<br />further assurance, certificates, and other documents as may, in the sole olainion of Lender, be necessary or desirable in artier to
<br />effectuate, complete, perfect, continue, or preserve I1) 1'rustor's obligations under the Note; ;this #~eed of Trust, and the Related
<br />Documents, and 12) the liens anti security interests created by this Deed of Trust on the Property, whether now owned or hereafter
<br />acquired by Trustor. Unless proltiktitecJ by law or' Lender agrees to tlae 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 />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 a[ Trustor's expense. Fnr such purposes, Trustor hereby irrevocably appoints Lender as Trustor's attorney-in far..l far
<br />the purpose of rYtal<ing, exer.r.rting, delivering, filing, recording, and cJoiny all other things as may be necessary or desirable, in I-ender's
<br />sole opinion, to accomplish the matters referred to in t:he preceding paragraph.
<br />FULL PERFORMANCE, If Truster pays all the Indebtedness when rJr,e, and otherwise performs all the obligations irnposerJ upon Trustor
<br />under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to
<br />Trustor suitable statements of termination of any financing 5latemanf on file evidencing Lender's security interest in the Reels and the
<br />Personal Property. Any reconveyance tae required by law shall be paid by Trustor, if permitted by applicable law.
<br />EVENTS pF DEFAULT'. At Lender's option, Trustor will be in default under this Deed of Trust if any of the following happen:
<br />Payment f7efault. Trustor tails ko make any payment when clue under Lhe Indebtedness.
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and '1"rustor shall promptly
<br />take such steps as may he necessary to defend the action and obtain the award. Trustor may be the nominal party in such
<br />proceeding, but Lender shall he entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and .rrustor will deliver or cause to be delivered to 1.-ender such instruments ante doccnrtentatiort as may he requested by
<br />Lender from time to time to permit such participation.
<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminent cJnrnain proceedings or by any proceeding or
<br />purchase in lieu of condemnation, Lender rrtay at its eler,tion require that all or any portion of the net lroceeds of the award be appliecJ
<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, anc.1 atrorneys' fees incurred by Trustee or Lender in connection with the condemnation.
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