|
° DEED OF TRUST 2 010 0 3 6 91
<br />Loan No: 101230165 (Continued) Page 4
<br />reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting ar continuing this Deed
<br />of Trust, including without limita#ipn all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of
<br />Trust.
<br />Taxes. The following shall constitute #axes #p which this section applies: 111 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 Trustnr 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 141 a specific tax on all or any portion of the Indebtedness or pn
<br />payments pf 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 (1) pays the tax before i# becpmes delinquent, pr (2) contests the tax as provided above in the
<br />Taxes and Liens sec#ion and deposits with Lender cash or a sufficient corpora#e sure#y band or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. Tha following previsions relating tp this Deed of Trust as a securi#y agreement are a
<br />part of this Deed of Trust:
<br />Security Agreement. This instrument shall constitute a Securi#y Agreement to the extent any pf the Property constitutes fixtures, and
<br />Lender shall have all of the rights of a secured party under the Unifnrm Commercial Code 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 Personal Property. In addition to recording this Deed of Trust in the real prpperty records, Lender may, at any
<br />time and without further authorization from Trustnr, 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. Uppn
<br />default, Trustnr shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustnr shall assemble any
<br />Personal Property not affixed tp the Property in a manner and at a place reasonably convenient to Trustor and Lender and make it
<br />available to Lender within three 131 days after receipt of written demand from Lender to the extent permitted by applicable law.
<br />Addresses. The mailing addresses of Trustnr (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 an 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 Trus#or's nbligations under the Note, this Deed of Trust, and the Related
<br />Documents, and (2) 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 Trustnr. 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 #o in this paragraph.
<br />Attorney-in-Pact. 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 Trustnr and at Trustor's expense. For such purposes, Trustnr hereby irrevocably appoints Lender as Trustor's attorney-in-fact for
<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 Trustnr 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 />recanveyance and shall execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing
<br />Lender's security interest in the Rents and the Personal Property. Any recanveyance fee required by law shall be paid by Trustor, if
<br />permi#ted by applicable law.
<br />DEFAULT. At Lender's option, Trustor will be in default under this Deed of Trust if any of the following happen:
<br />Fraud or Material Misrepresan#ation. Trustor Commits fraud ar material misrepresentation in connection with the terms pf the Npte.
<br />Payment Default. Trustor fails to meet the repayment terms of the Nate for any outstanding balance.
<br />Other Defaults. Trustor's act or failure to act adversely affects Lender's security interest in the Property, or any right of Lender's in
<br />such security.
<br />Right to Cure. If any default, other than a default in payment is curable and if Trustor has not been given a notice of a breach pf the
<br />same provision of this Deed of Trust within the preceding twelve 1121 months, it may be cured if Trustnr, after Lender sends written
<br />notice to Trustor demanding cure of such default: 111 cures the default within ten 1101 days; or 12) if the cure requires more than
<br />ten (10) days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and
<br />thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably
<br />practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender
<br />may exercise any one nr more of the tollowing rights and remedies:
<br />Acceleration Upon Default; Additional Remedies. If any Event of Default pccurs as per the terms of the Note secured hereby,
<br />Lender may declare all Indebtedness secured by this Deed of Trust to be due and payable and the same shall thereupon become
<br />due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Lender may:
<br />
|