|
oEEO o~ TRUST 2 0 l o o i s s~,
<br />Loan No: 10122$974 (Contilnued) Page 4
<br />.:
<br />Title. Trustor warrants that: la- Trustor holds good. and marketable title nf,record to the Property in fee simple, free and clear of all
<br />liens and encumbrannes other than those set forth in the Real Property description or in any title insurance pelicy, title report, or final:..
<br />`' '' title opinion issued in favor of, ahd edceptetf t5y; Lender in connection with"this Deed of Trust, and (b) Truster has the full right;`-:
<br />power, and authority to execute and deliver this. Deed of Trust to Lender.
<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,•Qf Trustee or Lender under this Deed of Trust, Trustor shall defend the action at 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 be 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 />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 />Survival of Representations and Warranties. All representations, warranties, and agreements made by Trustor in this Deed of Trust
<br />shall survive the execution and delivery of this Deed of Trust, shall be oontinuing in nature, and shall remain in full farce 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 _tQ _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~firom,time to time #,qWpermit such.partiq,ipation:.;,
<br />Application of Net Proceeds. If all or any part of the Property is condemned?by' eminent domain proceedings or by any ~prnceeding or
<br />•.~ .• purchase;. in.lieu of condemnation, Lender may. et its. election require that all. nr any, portion of the net..prviceeds of the award. be :applied .
<br />•, to the•Indabtedness or the
<br />.. 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 vVith;the condemnation.
<br />,.
<br />IMPOSITION.OF TAXES, FEES. AND. CHARGES BY GOVERNMENTAL AUTHO(~ITIES. The tollovving proitisiz~ns relating to.governmental
<br />...
<br />• -taxes, faes.and charges area. ,part of this Deed of Trust; ..;. ~ „ „ ,: ,, ..,
<br />Curreht Taxes, Fees and Chiirges. Upon request by Lender; Trustor shelf 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 />Taxes. The fallowing 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; 13- a tax on this type of Deed of Trust
<br />chargeable against the Lender or the holder of the .Note; and 14- a specific tax on all nr 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 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 111 pays the tax before it becomes delinquent, or 121 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 />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 />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 Cade as amended from time to time.
<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 opt 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 />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 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 nr 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 />
|