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' DE~n OF TRUST 2 D i O O G ~i 9 Loan No: 81QUB8 (Continued) - Page 3 LENDER'S EXPENDITURES. If any action or procaading is cornmenc.ed that would rrtaterially affect lender's intnrest in the Proporty nr if Trustor fails to comply with any provision of this Deed of Trust or any Belated Doarntenfs, including but not limited to Trustor's failure to comply with any obligation to maintain Existing Indebtedness in good standing as required below, or to discharge or pay when due any amounts Trustor is required to disr•,harge or pay under this Deed n( Trust or any Related Documents, Lender on "frustcrr's behalf may (but shall not be obligated to) take any action tktat Lender deems appropriate, including but not limited to discharyiny or paying all taxes, liens, SeCllrlty Intf•1rr1St5, encumbrances and Vtk1P.r Clarrn5, at arty tlrrte IeVled Or placed Un the., Property and paying rill r•.osts fnr insuring, malntalning find preSerVing the P(Operly. All Sll(:tl r1XpEn(11t11fe5 InCtlrred Ur pall by Len(1P..r fnr 511C11 purpnSeS WIII tll(?n bear Irlt(?rRSt at the rata charged under the Note from the date incurred or paid by Lender Lo the datrl of repayment by Trustor. All such expenses will become a part of the htdehtedness and, at Lender's option, will IAl be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment. payments ko become due during either 111 the terra of any applicable insurance policy; nr (2) the remaining terra of the Note; or ICI be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of 7Yust also will secure payment of these amounts. Such riyhk shall he in ardition to all other rights and remedies to which Lender may be entitled upon Default. WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust Title. Trustor warrants that la) Trustor holds good and marketable title nl record to the Property in fee simple, free and clear of ail liens and encumbrances other than those set forth in the Real Pro{?erty description nr in the Existing Indebtedness section below or in any title insurance policy, title report, nr boat title opinion issued in favor of, and accepted by, lender in connection with this Deed of Trust, and (6) Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender. f)efense of Title. Subject to the exception in the paragraph about:., Trustor warrants and will forever defend the title to the Property against the lawful claims of all persons. In the event any acaion or proceeding is commenced that questions 1-rustor's title or the interest of Trustee or Lender under this Deed of Trust, Trustor strait defend the action at frustor's expense. Trustor may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, anti Trustor will deliver, or catJSe to be delivered, to Lender such instruments as Lender may request from time to time to permit such participation. Compliance With Laws. Trust.nr warrants that the Property and 'frustor's use of thn Property complies with all existing applicable laws, ordinances, and regulations of governmental authorities. Survival of Representations and Warranties. All representations, warranties, and agreements made by Trustor in this Deed of Trust shall survive the execution and delivery of this Ueerl of Trust, shall be continuing in nature, and shall remain in full force and effect until such time as Trustor's Indebtedness shall be paid in full. EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness ere a part of this Deed of Trust: Existing Lien. The lion of this Deed of Trust securing the. Indebtedness may be secondary and inferior to an existing lien. Trustor expressly covenants and agrees to pay, or see to thq payment of, the Existing IrJdebfedness and to prevent any default nn such indebtedness, any default under the instruments evidencing such indebtedness, or any default uncJer any security documents for such indebtedness. No Modification. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, nr other security agreement which has priority over this Deed of Trust by which that ayreernent is modified, amnnded, extended, or renewed without the prior written consent of Lander. Trustor shall neither request nor ar•.rept. any future! advances under any such security ayreernent without the prior written consent of Lender. CONDEMNATION. The following provisions relating to condemrtalion proceedings are a part of this Daad of Trust: Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and 7Yustor shall promptly take such steps as may be necessary to detand the action and obtain the aware}: Trdstor may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding arJd to be represented in the proceeding by counsel of its own choice, and Trustor will deliver or r..a(.ISe to he delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit such participation. Application of Net Proceeds. If all or any part of the Property is conderntled by eminent domain proceedings or by any proceeding or purChaSe in lieu of condemnation, lender may at Its elenc~)n require that all or any portion of the net proceeds of the award be applied to the Indebtedness or the repair or rFStoration of the Property. The net. pro(:eeds of the award shall mean the award after payment of all reasonable costs, expenses, and attorneys' fees incurred by Trustrle nr Lender in connection with the cortderrutation. IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. Tha following provisions relating to yoverrtrnerttal taxes, fees and charges are a part of this Deed of Trust: Current Taxes, Fees and Charges. Upon request by !.ender, Trustor shall execute such documents in addition to this Deed of Trust and take whatever other action is requested by Lender to parfnct and continue Lender's lien on thrt Real Proporty. Trustor shall reimburse Lender for all taxes, as described below, together with all expenses incurred in rer..ording, perfer•.ting or continuing this Deed of 'TYust, including without limitation all taxes, foals, documentary stamps, and other charges for recording or registering this Deed of Trust. Taxes. The following shall constitute taxes to which this section applies: 111 a specific tax upon this type of Deed of Trust or upon all or any part of the Indnbtedness secured by this Dned of trust; (21 a specific, tax nn Trustor which 'Trustor is authorized or required to deduct from payments art the Indebtedness secured by this type of Deed of Trust; 131 a tax on this type of Ueed of TrC1St. chargeable against the Lender or the holdrJr of the Note; acid Ihl a specific. tax on all or any portion of the Irtdet)tedness or on payments of principal and interest made by Trustor. Subsequent Taxes. If any tax to which this sertinn applies is enacted subsequent to the date of this Deed of Trust, this event shall 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 provided below unless Truslnr either (1) pays the tax before it beromns delinquent, or (2) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash ar a suffiriant corporate surety bond or other security satisfactory to Lender. SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of this Deed of Trust: Security Agreement. This instrument shall ronstltute a Security Agreement to the extent any of the Property constitutes fixtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time. Security Interest. Upon request by lender, Trustor shall take whatever ar,tion is requested by Lender to per(ert and continue Lender's security interest in the Rents and Personal Property. Irt addition to rer..ording this Daad of Trust in the real pro{)erty records, Lender may, at any time and without further authorization frnrn Trustor, file executed counterparl.s, copies or reproductions of this Deed of Trust as a financing statement. lntstor shall reimburse Lender for all expenses incurred in perfrJCting or continuing this security interest, Upon default, Trustor strait not rernovP, sevnr or detach the Personal Property from thn Property. Upon default, Trustor shall assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor arul Lander and make it available to Lender within three (3) days after receipt of written demand from Lender to tkle extent permitted by appli(•.ahla IflW. Addresses. The mailing addresses of Trustor (rlrahtor) and Lender (secured party) from which information concerning t:he security interest granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code) are as stated on the first page of this Deed nt Trust. FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part: of this Deed of Trust Further Assurances. At any time, and from time to time, upon rrlquest of Lender, 'Trustor will make, exer.ute and deliver, or will cause tcl be made, exeruterl or rlelivererl, to lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or rererordeel, as the case may t)e, at sur,h times and in such offices acrd plar•,es as Lander may deem appropriate, any and all r l ~ ! .