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<br />DEED OF TRUST � o i o o� s 9 �
<br />Loan No: 1222�0 IContinued) Page 3
<br />liens and encumbrances nther than those set forth in the Real Property description or in the Existing Indebtedness section below or in
<br />any title insurance policy, title raport, ar final title opinion issued in favor of, and accepted by, Lender in connectian with this Deed of
<br />Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of 7itle. Subject to the sxception in the paragraph above, Trustor warrants and will forever defend the title to tha Property
<br />against the lawful claims of �II persons. In the event 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 expense. Trustpr 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 l.ender's own choice, and 7rus#or will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />request from time to time ta permit suah participation.
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies wi[h all existing applicable
<br />laws, ordinances, and regulations of governmental authorities.
<br />Survival of Promises. All promises, agreements, and statemen[s Trustor has made in this Deed ot 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 7rustor's
<br />Inde6tedness is paid in full.
<br />EXISTING INDEBTEDNESS. The fpllowing prpvisions cancerning Existing Indebtedness are a part of this Deed of Trust:
<br />Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior ta 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 evidenping such inde6tedness, or any default under sny sacurity dacuments for such
<br />indebtedness.
<br />No Modification. Trustor shall not enter into any agreement with the hplder of any mortgaga, deed of trust, ar other security
<br />agreement which has priority over this �eed of Trust by which that agreamsnt is modifiad, amanded, extended, or renewed without
<br />the prior written consent of Lender. Trustor shall neither request nor accept any future advancea under any such security agreemeni
<br />without the prior written consent of Lender.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />Proceadings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lendar in writing, and Trustor shall promptly
<br />take such steps as may be necessary to defend the action and obtain [he award. Trustor may 6e the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding bq counsel of its own
<br />choice, and 7rustor 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 pf Net Propeads. If all vr any part of the Property is condemned by eminent dpmain procaedings or by any proceeding or
<br />purchase in lieu ot condemnation, Lender may at its election require that all or any pprtion of the net prpceeds 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 casts, expenses, and attorneys' fees incurred 6y Trustee or l.ender in connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CNARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this Daed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in additipn tp this Deed of Trust
<br />and take whatever other action is requested by Lender to perfect and continue L.ender's lien on the Real Property. Trustor shall
<br />reimburse Lender for all taxes, as describsd below, together with all expenses incurred in recording, perfecting or continuing this �eed
<br />of Trust, including without limitation all taxes, fees, documentary stamps, and other charges fqr recording or registering this Deed of
<br />Trust. -
<br />Taxes. 7he following shall constitute taxes to which this section applies: (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 7rust; (2) a specific tax on Trustor which Trustor is authorized or
<br />required to deduct from payments vn the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type ot Dead of Trust
<br />chargeable against the Lender or the holdar qf the Note; and (4) a specific tax vn all or any portion of the Indebtedness or an
<br />payments of principal and intarest made by Trustor,
<br />5ubsequent Taxes. If any tax to which this section applies is enacted subsequent tp the date of this peed of Trust, this event shall
<br />have the same effect a5 an Evant af Default, 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 becqmas delinquent, or (Z) contests the tax es provided above in the
<br />Taxes and Liens section and deposits with Lender cash or a sufficient corporata surety bond or other security satisfactory to Lender,
<br />SECURITY AGR�EMENT; FINANCING STATEMENTS. 7he tollowing provisions relating to this Deed of Trust as a security agreement are a
<br />part of this Deed vf Trust:
<br />Security Agreement. This instrument shall constitute a Security Agreement ta the extent any of the Property cvnstitutes 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 />5ecurity Interest. Upon request by l.ender, Trustor shell take whatever action is requested by Lender to perfect and continue Lender's
<br />security interest in the Persanel Property. In addition to recording this Deed of Trust in the real property records, Lender may, at any
<br />time and without turther authorization frvm Trustor, file executed cpunterparts, copies or reproductions of this Daed of Trust as a
<br />financing statement. 7rustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interast. Upon
<br />default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assamble any
<br />Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustar and Lender and make it
<br />available to Lender within three (3) days after receipt of written demand frnm Lender to the extent permitted by applicable law.
<br />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information concerning the security
<br />interest granted by 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; A7TORNEY-IN-FACT. The fqllawing provisions relating to further assurances and attorney-in-fact are a part of
<br />this l]eed of Trust:
<br />Further Assurances. At any time, and from time to time, upon raquest of Lender, Trustor will meke, execute and deliver, or will cause
<br />to be made, executed or delivered, to Lender pr to L,ender's designee, and when requeated by Lender, cause to 6e filed, recarded,
<br />refiled, or rerecprded, as the case may be, at such times and in such offices and places as Lender may daem appropriate, any and all
<br />such martgages, deeds of trust, security daeds, security agreements, financing statements, continuation statements, instrumenta of
<br />further assuranca, certificates, and other documents as may, in the sole opinipn pf Lender, be necessary or desirable in order to
<br />effectuate, cnmplete, perfect, continue, or preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Related
<br />Documents, and (2) the liens end security interasts created by this Deed af 7rust as first and prior liens on the Prpperty, whathar
<br />now owned or hereafter acquired 6y Trustor. Unless prohibited by law or Lender agreas to the contrary in writing, Trustor shall
<br />reimburse Lender for all costs and expenses incurred in ennnection 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 l.ender's
<br />sale opinion, to accomplish the mattera referred to in the preceding paragraph.
<br />FUI.I. PERFORMANCE. If Trustor pays all the Indebtedness when due, and otherwisa performs all the obligations imposed upon Trustor
<br />under this Deed of Trust, Lender shall execute and deliver to 7rustee a request for full reconveyance and shall execute and deliver to
<br />Trustor suitable statemants of termination of any financing statement on file evidencing Lender's security interest in ths Rents and the
<br />Personal Property, Any reconveyance fee required by law shall be paid by Trustor, if p�rmitted by applicable law.
<br />EVENTS OF D�FAULT. At Lender's option, Trustpr will be in default under this Deed of Trust if any ot the follawing happen:
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