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DEED OF TRUST 2 (~ l O U 6 S'7
<br />` (Continued) Page 3
<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 continuing in nature, and shall remain in full force and effect
<br />until such time as Trustor's Indebtedness shall be paid in full.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings era a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lander in writing, and Trustor shall promptly
<br />take such steps as may be necessary to 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 6s 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 Net Proceeds. If all or any part of the Property is enndemned by eminent domain proceedings or by any 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. 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 with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES f3Y 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. Upon request by Lender, Trustor shall 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 far atl 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 following shall constitute taxes to 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; i21 a specific tax nn Trustor which Trustor is authorised or
<br />required to deduct from payments on the Indebtedness secured by this type of Desd of Trust; 131 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 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 yr 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 (21 contests the tax os provided above in the
<br />Taxes and Liens section aril deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The fallowing provisions relating to this Desd of Trust as a security agreement are a
<br />part of this Desd 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 Code as amended from time to time.
<br />5acurity 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 Dasd 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 Desd 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 not 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 snake it available tv Lender within throe ,3) days after rocaipt of written demand from Lender to the extent permitted by applicable
<br />law.
<br />Addresses. Ths mailing addresses of Trustor (debtor) and Lender (secured party) from which intarmation concerning the security
<br />interest granted 6y this Deed of Trust may be 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 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 mods, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded,
<br />raffled, or rerecorded, as the case may ba, 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 agresments, financing statements, continuation statements, instruments of
<br />further assurance, certificates, and other documents as may, in the sale opinion of Lender, ba necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve 111 Trustor's obligations under the Nvte, this Deed of Trusl, and the Related
<br />Documents, and 12) 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 Trustor. Unless prohibited by law nr Lender agrees to the contrary in writing, Trustor shall
<br />reimburse Lender 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 preceding paragraph, Lender may do so for and in the name
<br />of Trustor and at Trustor's expense, For such purposes, Trustor 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. It Trustor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Trustor
<br />under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to
<br />Trustor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the
<br />Personal Property. Any reeonveyance fee required by law shall be paid by Trustor, it permitted by applicable law.
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust
<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness
<br />Other Defaults. Trustor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Deed of
<br />Trust or in any at the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any
<br />other agreement between Lender and Trustor.
<br />Compliance Default, Failure to comply with any other term, obligation, covenant or condition contained in this Desd of Trust, the Note
<br />or in any of the Related Documents.
<br />Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make any payment for taxes or
<br />insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />Default in Favor of Third Parties. Should Grantor default under any Ipan, extension of credit, security agreement, purchase or sales
<br />agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Grantor's property or
<br />Grantor's ability to repay the Indebtedness or Grantor's ability to perform Grantor's obligations under this Desd of Trust or any of the
<br />Related Documents.
<br />False Statements. Any warranty, representation or statoment made or furnished to Lender 6y Trustor or on Trustor's behalf under this
<br />Dssd of Trust ar the Related Documents is false or misleading in any material respect, either now or aI the time made or #urnished or
<br />becomes false or misleading at any time thereafter.
<br />Defective Collateralization. This Peed of Trust or any of the Related Documents ceases to be in full force and affect lincluding failure
<br />of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.
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