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DEED OF TRUST 2 010 0 3117
<br />(Con#inued) Pala s
<br />arbitration if the Dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless lit the holder
<br />of the mortgage, lien or security interest specifically elects in writing to proceed with the arbitration, or Iii) all parties to the arbitration
<br />waive any rights nr benefits that might accrue to them by virtue of the single action rule statute of Utah, thereby agreeing that all
<br />indebtedness and obligations of the parties, and all mortgages, liens and security interests securing such indebtedness and obligations,
<br />shall remain fully valid and enforceable. If any such Dispute is not submitted to arbitration, the Dispute shall be referred to a master in
<br />accordance with Utah Rule of Civil Procedure 53, and this general reference agreement is intended to be specifically enforceable. A master
<br />with the qualifications required herein for arbitrators shall be se-ected pursuant to the AAA's selection procedures. Judgment upon the
<br />decision rendered by a master shall be entered in the court in which such proceeding was commenced in accordance with Utah Rule of
<br />Civil Procedure 531e1.
<br />DEFINITION OF INDEBTEDNESS. The definition of "Indebtedness" herein includes, without limitation, all liability of Borrower or other party
<br />having its obligations to Lender secured by this Deed of Trust, whether liquidated or unliquidated, defined, contingent, conditional or of any
<br />other nature whatsoever, and performance of all other obligations, arising under any swap, derivative, foreign exchange or hedge
<br />transaction or arrangement (or other similar transaction nr arrangement howsoever described or defined) at any time entered into with
<br />Lender in connection with the Nnte.
<br />ENCUMBRANCES. Grantor/Mortgagor/Trustor shall not, without Lender's consent, mortgage, assign, grant a lien upon or security interest
<br />in, or otherwise encumber the Property ar any interest in the Property, or allow such a lien or security interest to exist or arise, whether
<br />voluntarily, involuntarily ar by operation of law, except for liens and security interests in favor of Lender, or property taxes attributable to
<br />the Property which are not past due.
<br />APPRAISALS, FEES AND EXPENSES. Grantor/Trustor agrees that Lender may obtain appraisals and reappraisals and perform property
<br />evaluations and appraisal reviews of the Real Property when required by the regulations of the Federal Reserve Board or the Office of the
<br />Comptroller of the Currency, or any other regulatory agency, or at such other times as Lender may reasonably require. Appraisals shall be
<br />performed by an independent third party appraiser selected by Lender; property evaluations and appraisal reviews may be performed by
<br />third party appraisers or appraisers and staff of Lender. The fees, expenses and other cost of such appraisals, reappraisals, property
<br />evaluations and appraisal reviews shall be paid by Grantor/Trustnr. In addition, Grantor(Trustor shall be responsible for payment of all fees
<br />and expenses of Lender and third parties relating to inspecting the Real Property, environmental review, title policies and endorsements Ior
<br />title searches, abstracts of title or legal opinions of title where applicablel, and monitoring the payment of property taxes, and any
<br />governmental taxes, fees and recording costs relating to this deed.
<br />LEASES AND RENTS. Grantor/Trustor/Mortgagor presently assigns to Lender all of Grantor/Trustor/Mortgagor's right, title and interest in
<br />and to all present and future leases of the Property and all rents from the Property. This Assignment of Rents is given to secure IA1
<br />Payment of the Indebtedness and (B) Performance of any and all obligations under the Note and Mortgage/Peed of Trust.
<br />Grantor/Trustor/Mortgagor's present assignment to Lender hereunder is of all present and future leases includes all leases, licenses, rental
<br />agreements and other agreements of any kind relating to the use or occupancy of any of the Property, together with all guarantees of and
<br />security for any tenant's performance, and all extensions, renewals and modifications thereto las used in this paragraph, each, a "Lease"
<br />and collectively, the "Leases"1, together with any and all Rents from the Property. This assignment shall not impose upon Lender any duty
<br />to produce Rents, nor cause Lender fo be a "mortgagee in possession," or responsible for performing any of the obligations of the lessor
<br />under .any Lease. Lender confers upon GrantorlTrustor/Mortgagor a license to collect and retain the Rents as they come due, until the
<br />occurrence of any Event of Default, at which time the license shall be automatically revoked, and Lender, or its designated agent may, at
<br />its option and without notice, make, cancel, enforce or modify any Lease or Rents, collect Rents and do any acts which Lender deems
<br />proper to protect the security hereof or exercise any other right or remedy hereunder. Grantor/Trustor/Mortgagor represents and warrants
<br />that there exists no material default under present Leases and that those Leases are in full force and effect. Lender, at its option and
<br />without notice, may notify any tenant of this assignment of the Leases and Rents. Grantor/Trustor/Mortgagor agrees, at its expense, li- to
<br />comply with and enforce all the terms and conditions under each Lease, and defend in any action in connection with any Lease; (iil not to
<br />modify any Lease in any material respect, nor accept surrender under or terminate the term of any Lease, nor waive or release any tenant
<br />under any Lease; (iii) not to anticipate the Rents under any Lease; and liv) to give prompt notice to Lender of any default by any tenant
<br />under any Lease, and of any notice of default on the part of Grantor/Trustor/Mortgagor under any Lease received from a tenant. Should
<br />Grantor/Trustor/Mortgagor fail to do any act required to be done by GrantorfTrustor/Mortgagor hereunder, then Lender, at its option and
<br />without notice, may make or do the same in such manner and to such extent as Lender deems necessary to protect the security hereof.
<br />Grantor/Trustor/Mortgagor agrees to pay to Lender immediately upon demand all sums expended under the authority hereof, including
<br />reasonable attorneys' fees, together with interest thereon at the highest rate per annum payable under any Indebtedness, and the same, at
<br />Lender's option, may be added to the Indebtedness and secured hereby.
<br />ASSOCIATION OF UNIT OWNERS. The following provisions apply if the Real Property has been submitted to unit ownership law ar similar
<br />law for the establishment of condominiums or cooperative ownership of the Real Property:
<br />p. Power of Attorney. Trustor/Grantor grants an irrevocable power of attorney to Lender to vote in Lender's discretion on any matter that
<br />may come before the association of unit owners. Lender shall have the right to exercise this power of attorney only after
<br />Trustor's/Grantor's default; however, Lender may decline to exercise this power as Lender sees fit.
<br />B. Insurance. The insurance as required herein may be carried by the association of unit owners nn Trustor's/Grantor's behalf, and the
<br />proceeds of such insurance may be paid to the association of unit owners for the purpose of repairing or reconstructing the Property. If not
<br />so used by the association, such proceeds shall be paid to Lender.
<br />C. Default. Trustor's/Grantor's failure to perform any of the obligations imposed on Trustor/Grantor by the declaration submitting the Reaf
<br />Property to unit ownership, by the bylaws of the association of unit owners, or by any rules or regulations thereunder, shall be an event of
<br />default under this Deed of Trust. If Trustor'slGrantor's interest in the Real Property is a leasehold interest and such property has been
<br />submitted to unit ownership, any failure by Trustor/Grantor to perform any of the obligations imposed on Trustor/Grantor by the lease of
<br />the Real Property from its owner, any default under such lease which might result in termination of the lease as it pertains to the Real
<br />Property, or any failure of Trustor/Grantor as a member of an association of unit owners to take any reasonable action within
<br />Trustor's/Grantor's power to prevent a default under such lease by the association of unit owners or by any member of the association
<br />shall be an Event of Default under this Deed of Trust.
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