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DEAD OF TRUST 2 O 1 Q ~ s 4 4
<br />Loan No: 80$298 (Con#inuled) Page 3
<br />interest at the rate r,haryed under the Note from the date incurred or paid by lender to the date of repayment by Trustor, All such
<br />expenses will become a part of the IndehtecJness and, at Lender's option, will (AI be payak>le on demand; (B) he added to the balance of
<br />the Note and be apportioned among and be payable with any installrrtent payments to hecorne due during either (1) the term of any
<br />applicable insurance policy; or (2) the remaining tents of the Nnta; or ICI he treated as a balloon payment which will be due and payable
<br />at the Note's maturity. The Deed of Trust. also will secure payment of these amounts. The rights provided for in this paragraph shall be in
<br />addition to any other rights nr any remedies to which Lender may be entitled nn account of any dofault. Any such action by Lender shall
<br />not be construed as curing the default so as to bar tender frnrn any remedy that it otherwise 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: (a- Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or in
<br />any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br />Trust, and Ib- Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to thre exception in the paragraph above, Trustor warrants and will ic'trever defend the title to the f~rnperty
<br />against the lawful claims of all persons. In the event any action or proceeding is cornmencnd that questions Trustor's title or the
<br />interest of 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 tv he delivered, ro Lender such instruments as Lender may
<br />request from time to time to permit such participation.
<br />Compliance With Laws. Trustnr warrants that the Property and Trustnr's use of the Property complies with all existing applicable
<br />laws, ordinances, and regulations of governmental authorities.
<br />Survival of Promises. All promises, agrnemnnts, and statements Trustor has made in this Deed of Trust shall survive the execution
<br />and delivery of this Deed of Trust, shall be continuing in nature and shall remain in full force and effect until such time as Borrower's
<br />Indebtedness is paid in full.
<br />EXISTING INDEBTEDNESS. The following provisions concernirty Existing Indebtedness are a part of this Deed of Trust:
<br />Existing Lien. 'The lien of this Deed of Trust securing the Indebtedness rrtay he secondary and inferior to an existing lien, Trustor
<br />expressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any default on such
<br />indebtedness, any default under the instruments evidencing such indebtedness, or any dofault under any security documents for such
<br />indebtedness.
<br />No Modification. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other security
<br />agreement which has priority over this Dead of Trust by which that agreement is modified, amended, extended, or renewed without
<br />the prior written rnnsent of Lender. Trustor shall neither request. rtor accept any future advances under any such security agreement
<br />without the prior written consent of Lender.
<br />CONDEMNATION. The following provisions relating to cortdernnat.ion 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 to defend the action and otttain the award. Trustor may be the nominal party in such
<br />proceeding, but Lander shall be entitled to participate in the proranding and to be represented in the proceeding by counsel of its own
<br />choice, and Trustor will deliver or cause to bn delivered to Lender such instruments and documentation as may be requested by
<br />Lender from time to time to permit such participation.
<br />Application of Nat Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by aiay proceeding or
<br />purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied
<br />to the Indebtedness or the repair or restoration of the Property. ?he net proceeds of the award shall mean the award after payment of
<br />all reasonably costs, expenses, and attorneys' (ees incurred by Trustee or Lender in connection with the conderttnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. Tha following provisions relating to governrrtental
<br />taxes, fees and charges are a part of this [7eed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall nxnrute such documents in addition to this Deed of Trust
<br />and take whatever other action is requested by Lender to perfect and continuo Lnndor's lion 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, foes, documentary stamps, and other charges for recording or registering this Deed of
<br />Trust.
<br />Taxes. The following shall constitute taxes to which this section applies: 11- a 5perific tax upon this type of Deed of Trust or upon
<br />all or any part of the Indebtedness secured by this Deed of Trust; 12) a specific tax on Borrower which Borrower 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 (4) a specific, tax on all or any portion of the Indebtedness or on
<br />payments of prinr,ipal and interest made by Borrower.
<br />Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this avant 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 Trustnr either (11 pays tfte tax before it hecontns delinquent, or (2) contests the tax as provided above in the
<br />Taxes and Lions section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lander.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement era a
<br />part of this ^eed 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 lJniforrn Commercial Coda as amended from time to time.
<br />Security Interest. Upon request by Lander, Trustor shall take whatever action is requested by Lender to perfect and continue tender'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 Truster, 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. Upon
<br />default, Trustor shall not remove, saver or detach the Personal Property from the Property. Upon default, Truster shall assemble any
<br />Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustnr and Lender and make it
<br />available to Lender within throe (3) days after receipt of written demand from Lander to the extent permitted by applicable law,
<br />Addresses. The mailing addresses of Trustor (debtor) and Lander (secured party) frnrn which information concerning the security
<br />interest granted by this Deed of Trust may be obtained (each as reriuired 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 Lander, Trustor will make, execute and deliver, or will cause
<br />to be made, exncutod or delivered, to Lender or to Lender's designee, and when requested by Under, cause to be filed, recorded,
<br />refiled, or rerecorded, as the case may he, at such times and in such offices artd planes as Lender may deem appropriate, any and all
<br />such mortgages, deeds of trust, security deeds, security ayreernents, financing statements, continuation statements, instruments of
<br />further assurance, certificates, and other documents as may, in tiro sole opinion of l_andar, be necessary or desirable in order t.n
<br />effectuate, complete, perfect, continue, or preserve (1) Borrower's and 'Trustor's obligations under the Note, this Dood of Trust, and
<br />the Related Documents, and 12) the liens and security interests created by this Deed of Trust on the Propnrty, whothnr now owned
<br />or hereafter acquired by Truster. Unless prohibited by law or Lender agrees to the contrary in writing, Trustnr shall reimburse Lender
<br />for all costs 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 preneding paragraph, Lender may do so for and in the name
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