|
`- .. ;��;� a � DEED �F TRUST 2 41 U 0'7 61 G
<br />Loan No: 4120531 (COCltl�lued) Page 3
<br />Title. Trustor warrants that: (a) Trustor holds gaad 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 tha Real Property description or in the Existing Indebtedness section below or in
<br />any titls insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this besd of
<br />Trust, and (b) Trustor has the full right, powar, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of 1'itle. Subject to the axception in the paragraph above, Trustor warrants end will forever defend the title to the Property
<br />against the lawful claims of all persons. In the avent any action or proceeding is commenced 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 e�pense. Trustor may be the
<br />nominal party in such proceeding, bu[ Lender shall be entitled to participate in the prviceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliver, or cause tv be delivered, to Lender such instruments as Lender may
<br />request from time to time to permit such participation.
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ardinsnces, and regula#ions of governmental authorities.
<br />Survival of Promises. All pramises, agreements, and statements Trustor has made in this Peed of Trust shall survive the execution
<br />and delivery of this Deed of Trust, shall be continuing in neture and shall remain in full force and effect until such time as Trustor's
<br />Indebtedness is paid in full.
<br />EXISTNVG INDEBTEDNESS. The foll�wi�g proviaivns concerning Existing Indebtedness are a part of this Deed of Trust;
<br />Existing Lien. The lien of this Dsed of Trust sacuring 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, the Existing Inde�tedness and to prevent any default on such
<br />indebtedness, any default under the instruments evidencing such indebtedness, or any default under any security documents for such
<br />indebtedn�ss.
<br />No Modlfication. Trustor shall not enter into any agrsement with the holder of any mor#gage, deed of trust, or other security
<br />agreement which has priority over this Deed af Trust by which that agreement is modified, amended, extanded, or renewed without
<br />the prior written consent of Lender. Trustor shall neither request nor accapt any future sdvances under any such security agreement
<br />without the prior written consent pf Lendar.
<br />COND�MNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in wri#ing, and Trustor shall promptly
<br />take such steps as may be necessary to defend the action and o6tain the award. Trustor may be the nominal party in such
<br />procseding, but Lender shall be entitlad tv participate in the proceeding and to be represented in the proceeding by counsel af its own
<br />choice, end Trustor will deliver or cause to be delivered tv Lender such instruments and documentation as may be .requested by
<br />Lender from time to time to permit such parxicipation.
<br />Application of Net Procaeds. If all or any part of the Property is condemned 6y eminent domain proceedings or by any proceeding or
<br />purchase in lieu of condemnation, Lender may at its electivn 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 msan the award after payment of
<br />all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation.
<br />IMPp51TI0N OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to gavernmental
<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 execute such documen#s in addition to this beed of Trust
<br />and take whatever ather action is requested py Lender to perfect and continue Lender's lien on the Real Property. Trustor shall
<br />reimburse Lender for all taxes, as describad below, together with all expenses incurred in recording, perfecting or continuing this Deed
<br />of Trust, including without limitation all taxes, fees, documentary stsmps, and other charges for recarding or registering this Deed of
<br />Trust.
<br />Taxes. The following shall constitute taxes to which this section applies: 11) a specific tax upon this type of peed of Trust or upon
<br />sll or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tex on Trustor'which Trustor is authorized or
<br />required to deduct from payments on tha Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of �eed of Trust
<br />chargeable against the Lender nr 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 tex to which this section applies is enacted subsequent [o the date of this Deed of Trust, this event shall
<br />have the same effect as an �vent of Detault, and Lender may exercise any or all of its available remedies for an Event of Default as
<br />provided below unless Trustor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the
<br />Taxes and Liens sec#ion and deposits with Lender cash ar a sufficient corporate surety band or other security satisfactory to Lender.
<br />SECl1RITY AGREEMEN7; FINAIVCING Sl'AT�M�NTS. The following provisions relating to this Deed of Trust as a security agreement are a
<br />part of this Deed of Trust:
<br />Securi#y Agreement. l"his instrumant shall cans#itute 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 ta time.
<br />Securi#y In#arest. Upan request by Lender, Trustar shall take whatever action is requested by l.ender to perfect and continue Lender's
<br />security interest in the Personal Property. In addition to recording this Deed vf Trust in #he real prvperty records, Lender may, at any
<br />time and without further authorization from Trustor, file executed counterparts, copies or rsproductions pf this beed of Trust as a
<br />financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon
<br />defaul#, Trustor shall not ramove, sever or detach 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 place reasonably convanient to Trustor and Lender and make it
<br />available to lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable law.
<br />Addresses. The mailing addresses of Trustor (de6tor) end Lender (secured party) from which informetion concerning the security
<br />interest granted by this Qeed of 7rust may be obtained (each as required by the Uniform Commercial Code) are as stated on the first
<br />page of this beed qf 7rust.
<br />FURTHER ASSURANCES; A71'ORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of
<br />this Deed of 7rust:
<br />Further Assursncas. At any #ime, and fram time to time, upon request of Lender, Trustor will make, execute and deliver, ar will cause
<br />to be mede, executed ar delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded,
<br />r�filed, or rerecprded, as the case may be, at such times and in such offices and places as Lender may deem apprppriate, any and all
<br />such mortgages, desds vf trust, sscurity desds, sscurity agreements, financing ststements, continuation statements, instruments pf
<br />further assurance, certificates, and other documents as may, in the sole opinion of Lender, 6e necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve (1? Trustor's obligations under the Note, this Deed of Trust, and the Related
<br />Documents, end (2) #he liens end security interests created by this Deed af Trust on the Property, whether npw owned or hereafter
<br />acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender for all costs
<br />and expenses incurred in connection with the matters referred to in this paragraph. •
<br />Attorney-in-Fact. It 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 "Crustor and at Trustor's expense. For such purppses, Trustor hereby irrevocably appoints Lender as Trustor's attorney-in-fact for
<br />the purpbse of making, executing, delivering, filing, recording, and doing ail 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, including withaut limitatipn ell future advances, when due, end otherwise
<br />performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full
<br />recbnveyance and shall execute and deliver to 7rustor suits6le statements of termination of any financing statement on file evidencing
<br />Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if
<br />permitted by applicable law.
<br />
|