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DEED OF TRUST 2 o i o o� 4 2 0
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<br />under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the
<br />Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor as
<br />Trustor's interasts may appear.
<br />Trustor's Report on Insurance. Upon request af Lander, however not more than once a year, Trustor shall furnish to Lender a report
<br />on each existing policy of insurance showing; (1) the name of the insurer; (2) the risks insured; (3) the ampunt pf the policy; (4)
<br />the property inaured, the then current replacement value of such property, and the manner of determining that value; and (5) the
<br />expiration date of the policy. Trustor shall, upon request of l.ender, have an independent appraiser satisfactory to Lender determine
<br />the cash value replacement cost of the Property.
<br />LENDER'S EXPENDI7URES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if
<br />Trustor fails to comply with any provisiqn qf this peed of 7rust or any Related Documents, including but not limited to Trustor's failure to
<br />discharge or pay when due any amounts Trustor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender
<br />on Trustor's behalf may (but shall not be obligated to) take any action that Lender deems apprapriets, including but not limited to
<br />diacharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Property and
<br />paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purppsas
<br />will then 6ear interest at the rate charged under the Note from the date incurred or paid by Lender ta the date qf repaymant by Trustor. All
<br />such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the
<br />balance of the Note and be appprtioned ampng and be payable with any installment payments to become due during either (1) the term of
<br />any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and
<br />payable at the Note's maturity. The Deed of Trust also will secure payment af these amounts. Such right shall be in addition to all other
<br />rights and remedies to which Lender may be entitled upon Default.
<br />WARRANTY; DEFENSE OF TITL�. The following provisions relating to ownership of the Prpperty are a part pf this Deed of Trust:
<br />Title. Trustar warrants that: (a) Trustor holds good and marketable title of record to the Property in fee simple, fraa and clear of all
<br />liens and encumbrances other than thpse set forth in the Real Property description or in any title insurance policy, title report, or final
<br />title opinion issued in favor of, and accepted by, Lendar in connection with this Deed of Trust, and (b) Trustor has the full right,
<br />powar, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any actipn or prpceeding is commenced that questions Trustor's title or the
<br />interest of Trustae or Lender under this Deed of Trust, Trustor shall defend tha actian at Trustar's expense. Trustor may be the
<br />nominal party in such prpceeding, 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 Trustar will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />raquest from time to time to permit such participation.
<br />Compliance With L.aws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ordinances, and rsgulations of gavernmental authorities.
<br />Survival pf Represantatians and Warranties. All representations, warranties, and agreements made by Trustar in this Deed of Trust
<br />shall survive the execution and delivery of this Desd af 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 />CQNDEMNATION. 7he following provisions relating to condemnation proceedings are a part of this Deed of 7rust:
<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 6e necessary tp defend the action and obtain the award. Trustor may be the nominal party in such
<br />proceading, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />chpics, and Trustor will deliver or cause to be 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 Prpceeda. If all pr any part of the Property is condemned by eminent domain proceedings or by any prpqesding nr
<br />purchase in lieu of condemnation, Lender may et 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 Prpperty. 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 Lsnder in connsction with the candemnation.
<br />IMPpSITIQN OF TAXES, FEES AND CWARGES BY GOVERNMENTAL AUTHORITIES. 7he follawing provisions relating to governmental
<br />taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall sxacute such documents in addition to this Deed of 7rust
<br />and take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. 7rustor shall
<br />reimburse Lender for all taxes, as described belpw, together with all expenses incurred in recording, pertecting or continuing this Deed
<br />of 7rust, 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 applias: (1) 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 Trustor which Trustor is authorized or
<br />required to deduct from payments on the Indebtednass securad by this type of Deed of Trust; (3) a tax on this type of Deed of Trust
<br />chargeabla 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 mada 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 />prpvided below unless Trustor either (1) pays the tax before it becamas delinquent, or (2) contests the tax as provided above in the
<br />Taxes and Liens section and deposits with Lender cash or a sufficient corpprate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following pravisions relating to this Deed of Trust as a security agreement are a
<br />part of this Deed of Trust:
<br />Security Agraement. 7his instrument shall constitute a Security Agreement to the extant eny of the property constitutes fixtures, and
<br />Lender shall have all of the rights af a secured party under the Uniform 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 cantinue I�ender's
<br />security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real prpperty records, Lender
<br />may, at any time snd without further authorization from Trustor, fils sxecuted counterparts, copies or reproductions of this Deed of
<br />Trust as a financing statement. Trustar shall reimburse Lender for all expenses incurred In perfecting pr continuing this security
<br />interest. Upon default, Trustor shall not ramove, 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 make it available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable
<br />law.
<br />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information cqncarning the security
<br />interest granted by this Deed of Trust may be obtained (each as raquired by the Uniform Commercial Code) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTH6R ASSURANCES; ATTORNEY-IN-FAC7. The following provisions relating to turther essurances and attorney-in-fact are a part of
<br />this Daed of Trust:
<br />Further Assurances. At any time, and from time to time, upon request of �.ender, Trustor will make, execute and deliver, or will ceuse
<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 appropriata, any and all
<br />such mortgagas, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruman#s of
<br />further assurance, certificates, and other documents as may, in the sole apinion of Lender, be necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve (1) 7rustor's obligations under the Note, this Deed af Trust, and the Related
<br />, ( ry
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