|
DEED OE TRUST
<br />Loan Nq: 872058011 (Continued) 2 Q ,~, Q Q 4 9 4 (~ Page 3
<br />halanne of the Credit Agreement arrd tee apportioned among and be flayahle with any installment payments to berorne due during either (1)
<br />the term of any applicable insuranre policy; nr (L) the rernaininy term of the Credit Agreement; or (C) be ireatecl as a balloon payment
<br />which will he due and payable at the Credit Agreement's rnaturify. The Deed of Trust also will secure payment. of these amounts. The
<br />rights provided Tor in this paragraph shall he in addition to any other rights or any remedies to which Lender may he entitled on acrnunt of
<br />any default. Any such ention by Lender shall not be construed as r..uring the default so as to bar Lender from any remedy that it otherwise
<br />would have had.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust
<br />Title. Trustor warrants that: lal Trustor holds good and marketable title of record to the Property in fee simple, free and dear of all
<br />liens and encumbrances other than those set forth in the heal Property clesnripkinn or in the Existing Indebtedness section below or in
<br />arty title insurance policy, title report, or final title opinion issued in favor of, and accepted by, tender in nonneclion with this Deed of
<br />Trust, and 1h1 Trustor has the full right, power, and authority to execute anc.1 deliver this Deed of Trust to Lender.
<br />Defense of Title. Suhjert to the exceftfion in the paragraph ahove, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. h1 'the event any action or proceeding is corrrmenr•.ed that questions Trustor's title or the
<br />interest of Trustee or Lender under this Deed of Trust, Trustor shall dctfatd the action at Tn.rstor's expense. 'T'ruslor may be the
<br />nominal party in such proceeding, but tender sftall be entitled to participate in the proceeding and to be represented in the proceeding
<br />by rounsel of Lender's own c,hoic;e, and Trustor will deliver, or cause to be delivered, t.o Lender such instruments as Lender may
<br />request from time to time to permit such participation.
<br />Cpmpliance 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 Promises. All promises, agreements, and statements Trustor has made in this L)eed of Trust shall survive the execution
<br />and delivery of this ^eed of l'rust, shall be r..ontinuing in nature and shall remain in full force and effort until such time as Trustnr's
<br />Indebtedness is paid in full,
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of -T'rust:
<br />Existing Lion. The lien of this feed of Trust secunng the.. Indebtedness may be secondary and inferior to an existing lien. Trustor
<br />expressly covenants and agrees to pay, or see to the payment of, tfte Existing Indebtedness and to prevent any default on such
<br />indebtedness, any default under the instruments evidencing such indebtedness, or any defat.tlt under any security rlocurnents for such
<br />indebtedness.
<br />No Modification. Truster shall not enter into any agmement with the holder of any rttortgage, deed of trust, or other security
<br />agreement whir•.h has priority over this Deed of Trust by whit•.h that agreement is modified, amended, extended, or renewed without
<br />the prior written consent of Lender. lrustor shall neither request nor accept arty future advances under any sunh security agreement
<br />without the prior written consent of Lender.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Dee<I of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall prrnnptly
<br />take such steps as may be necessary t.o defend the antinn and obtain the award. Trustor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the procer..ding and to be represented in tfte pron..eerling by nnunsel of ifs own
<br />rhoir•.n, and Trustor will deliver or cause to he delivered to Lender such instrurnenls and dnrumnntation as may be requested by
<br />Lender from time to tune to permit such participation.
<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proneedings or by any proceeding or
<br />purchase in lieu of condemnation, Lender may at its election require that all or any portion of the nett proceeds of the award 6n applied
<br />to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall moan the award after payment of
<br />all reasonable costs, expenses, and attorneys' fees incurred tty Trustee or Lender in ronnectinn with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Feos and Charges. Uport request by Lender, Trustor shall execute such documents in addition to this Deed of Trust
<br />and take whatever other ar.,tion is requested by Lender to perfect anti continue Lender's lien on the Real Property. Trustor shall
<br />reimburse Lender for all taxes, as dnsrrihnd below, together with all expenses incurred in recording, perfecting or continuing this Deed
<br />of Trust, including without limitation all taxes, tees, docurnent:ary stamps, and other charges Tor recording or reyisteriny this Deed of
<br />Trust.
<br />Taxes, The following shall constitute taxes to which this section applir..s: (11 a specific tax upon lftis type of Dead of Trust or upon
<br />all or any part of the Indebtedness secured by this ^eed of Trust; (21 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; (3) a tax on this type of Dred of Trust
<br />chargeable against the Lender or the holder of the Credit Agreement; and (4) a specitin tax nn all or any portion of the Indebtedness
<br />or on payments of principal and interest made 6y -Trustor.
<br />Subsequent Taxes. If any fax to which this suction applies is enacted suttsef.luenf to the date of this Decd 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 Dither (1) pays the tax before it becomes delinryuctnt, or (2) contests the tax as provided ahove in the
<br />Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfar.tory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. the following provisions relating to this Deed of Trust as a security ayreernent are a
<br />part of this Deed of Trust:
<br />Security Agreement. This instrument shall constitute a Sonority 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 Cornrnercial Code as amended from i.ime to time.
<br />Security interest. Upon request by Lender, Trustor shall talcs whatever action is requested by Lender to portent and continue Lcndnr's
<br />security interest in the Personal Property. In addition 1n recording this Deed of l~rust fire the real property rclr;nrds, Lender rnay, at any
<br />time and without further authorization from Trustor, file executed counted)arts, r,opies or reproductions of this Deed of Trust as a
<br />financing statement. Trustor shall reimburse Lander for all expenses incurred in per(er..ting or continuing this security interest. Upon
<br />default, Trustor shall not remove, sever or detanh the Personal Property from the Property. Upon default, Trustor shall assemble any
<br />Personal Property not affixed to the Property in a manner and at a plane reasonably convenient to Trustor and Lender and rnalce it
<br />available to Lender within three 13) days after receif.tt of written demand from fender to the extent permitted by applicable law.
<br />Addresses. The mailing addresses of 'Trustor (detttor) and Lender (secured party) from whicft information concerning the security
<br />interest granted by this Deed of Trust may he obtained (each 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 era 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 ba made, executed or delivered, to Lender or to L.ender's designee, and when requested by Lender, cause to he filed, recorded,
<br />raffled, or rerecorded, as the. case may be, at such times and in $IJCh OfflCf?S and places as Lender may deers appropriate, any and all
<br />such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instrurnenls f>f
<br />further assurance, certificates, and other documents as may, in the sole opinion of Lender, he necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve 111 Trustor's obligations under the Credit Agreement, this C]eed of Trust, aced
<br />the Related Documents, and (7_) the liens and security interests r..reated by this bread of Trust nrt the Property, whether now owned
<br />or hereafter ar•.ryuimd by Trustor. Unless prohit.tited by law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender
<br />for all costs and expenses incurred in ronrtection 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 anc.1 in the Warne
<br />of Trustor and at l'rustor's expense. For such purposes, Trustor hereby irrevocably appoints Lender as Trustor's attorney in-fact for
<br />
<br />
|