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<br />DEED OF TRUST
<br />(Continued) Page 3
<br />7rust, and (b) 7rustor has the full right, power, and authority to �xecute and deliver this Deed of Trust to l.ender.
<br />befanse of 7itle, Subject to the exception in the paragraph above, Trustor warrants and will foreuer defend the title to th� Prop�rty
<br />against the lawful claims af all persons, In the event any action or proceeding is commenced that questions Trustor's title or the
<br />interest pf Trustee or Lender under this Desd of 7rust, Trustvr shall d�fend the action at Trustor's expense. Trustor 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 Lender's vwn choice, and Trustar will deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />request from time to time to permit such participation.
<br />Compliance Wlth Laws. Trustor warrants that the Property and Trustor's use of the Prop�rty complies with all existing applicable
<br />laws, ordinances, and regulations of governmental authorities.
<br />5urvival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execution
<br />and d�livery of this Deed of 7rust, shall be continuing in nature and shall remain in full force and effect until such time as Trustor's
<br />Indebtedness is paid in full.
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />�xisting Lien. The lien of this Deed pf Trust securing the Indebtedness may be secondary and inferior to the lien securing payment pf
<br />an existing qbligatiqn. 7hs existinq qbligation has a current principal balance of approximately $4D,794.00. The obligation has the
<br />following payment terms: $539.00 per Month. Trustor expressly covenants and agraes to pay, or see to the payment of, the Existing
<br />Indebtedness and to prevent any default on such indebtedness, any default under the instruments evidencing such indebtedness, or
<br />any default under any security documents for such indebtedness.
<br />No Modlficatlon. 7rustor shall not entar into any agreement with the holder of any mortgage, deed of trust, or pther security
<br />agreement which has priority over this Deed of Trust by which that agreement is modified, amended, extended, or renewed withput
<br />the prior written consent of Lender. Trustor shall neither request nor accept any future advances under any such security agreement
<br />without the prior written consent of Lender.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of 7rust:
<br />Proceedings. If any proceeding in condemnation is flled, Trustor shall promptly notify Lender in writing, and Trustor shall promptly
<br />take such steps as may be necessary ta 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 repres�nted in the prpceeding by 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 of Net Proceeds. If all or any part of th� Property is condemned by eminent domain prpceedings 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 restoratipn of the Property. 7he net proceeds of the award shall mean the award after payment of
<br />all reasonable casts, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation.
<br />IMPbSITION OF TAXES, FEES ANp GHARGES BY GOVERNMEN7AL AUTHORITIES. The follpwing provisions relating to governmental
<br />taxes, fees and charges are a part of this peed of 7rust:
<br />Current Taxes, Fees 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 pertect and continue Lender's lien on the Real Property. Trustor shall
<br />reim6urse 4.ender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Desd
<br />of Trust, including without limitation all taxes, fees, documentary stamps, and other charges fpr recording or registering this Deed of
<br />Trust.
<br />Taxes. The follpwing shall constitute taxes to which this section applies: (1) a specific tax upon this type of peed of Trust pr 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 Indebtedness secured by this type of I]eed of 7rust; (3) a tax on this type of Deed of Trust
<br />chargeable against the Lender or the holder of the Not�; and (4) a specific tax pn all or any portion of the Indebtedness or on
<br />payments of principal and interest made by Trustor.
<br />Suhsequent Taxes. If any tax to which this section applies is enacted subsequent ta the date of this Deed of Trust, this event shall
<br />have the same effect as an �vent of Default, and Lender may exercise any pr 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 />7axes and Liens section and deposits with Lender cash or a suffici�;nt corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEM�N7; FINANCING STATEM�NTS. The fqllowing provisiqns relating to this Deed of Trust as a security agreement are a
<br />part af this Dsed of 7rust:
<br />Security Agreement. This instrumant 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 paRy under the Unifprm Commercial Cpds as amended from time to time.
<br />Security Interest. Upon request by L�nder, Trustor shall take whatever action is requested by Lender to perfect and continue Lender's
<br />security interest in the Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at any
<br />time and without further authorization from Trustor, file executed counterparts, capies or reproductions of this Deed of Trust as a
<br />financing statement. Trustor shall reimburse Lender for all expenses incurred in pertecting or continuing this security interest. Upon
<br />default, Trustor shall not remove, sever or detach the Personal Property from the PropeRy. Upon default, Trustor shall assemble any
<br />Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor and Lender and make it
<br />available to Lender within three (3) days after receipt af written demand from Lender ta the extent permitted by applicable law.
<br />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which infarmation 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 />FUR7HER ASSURANCES; ATTORNEY-IN-FACT. The fqllowing provisions relating to further assurances and attorney-in-fact are a part of
<br />this Deed pf 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 made, executed or delivered, to Lander or to l.ender's designee, and when requested by l.ender, cause to be filed, recorded,
<br />refilsd, or rerecorded; asthe cas� may 6'e;'at such times and in such o�ces and places as Lender may deem appropriate, any and all
<br />such mortgages, desds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of
<br />further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to
<br />effectuate, compleke, pertect, continue, pr preserve (1) Trustor's obligations under the Npte, this Deed of Trust, and the Related
<br />Documents, and (2) the liens and security interests created by this Deed of Trust pn the Prqperty, whether now owned or hereafter
<br />acquired by Trustor, Unless prphibited by law or Lender agress to the cantrary in writing. 7'rustor shall reimburse Lender for all costs
<br />and expenses incurred in connection with the matters referred tv 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 purpases, Trustor hereby irrevocably appoints Lender as Trustor's attorn�y-in-fact for
<br />th� purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's
<br />sole opinian, to accomplish the matters referred to in the preceding paragraph.
<br />Fl1LL PERFQRMANC�, If 7rustor pays all the Indebtedness, including without limitation all future advances, when due, and 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 />reconveyance and shall execute and deliver tp 7rustor suitable 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 />EVENTS OF DEFAULT. At Lender's option, Trustor will be in default under this Deed of Trust if any of the following happen:
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