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DEED OF TRUST 2 O 1 Q 0 7 7 7�
<br />Loan No: 122�89 ' � ° � " (Continued) �ege 3
<br />laws, ordinances, and regulations of governmentai authoritias.
<br />Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execution
<br />and delivery of this Deed of Trus[, shall be continuing in nature and shall remain in full force and effect until such tims as Trustar's
<br />Inde6tadness is paid in full. ,
<br />EXISTING IN�EBTEDN�SS. The following provisipns cancerning Existing Indebtedness are a part of this Deed of Trust:
<br />Existing Lien. 7he lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an existing lian. 7rustor
<br />expressly cavanants and agrass to pay, or see to the payment of, the Existing Inde6tedness and to prevent any defeult on such
<br />indebtedness, any default under the instruments evidencing such indebtedness, or any default under any security dacuments for such
<br />inde6tedness.
<br />No Modification. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other security
<br />agreement which has priority over this Desd of Trust by which that agreement is modified, amended, extended, or renewed without
<br />the pripr written consent of Lender. Trustor shall neither request nor accept any future advances under any such security agresment
<br />without the prior written cpnsent of Lender.
<br />CQNDEMNATION. The following provisions relating to condemnation proceedings are a part pf this Deed of Trust:
<br />Procaedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall promptly
<br />7ake such steps as may be necessary to dsfend tha ention and obtain the award. Trustor may be the nominal party in such
<br />proceeding, but l.ender shall be entitled to participate in the proceeding and to be reprasented in the praceeding by counsel of its own
<br />choice, and Trustor will deliver or cause to be delivered to Lender such instruments and dpcumentation as may be requested by
<br />Lender frpm time to time to permit such participation.
<br />Application of Net Proceeds. If all or any part of the Property is candemned by eminent damain proceedings or by any proceeding or
<br />purchasa in lieu vf condemnation, Lender may at its election require that all or any porfion of the nat proceeds of the award be applied
<br />to the Indebtedneas or the rapair or restoration of the Property. The net proceeds of the award shelt mean the award after payment of
<br />all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES 8Y GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this Deed of Trust:
<br />Current 7axes, 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 perfect and continue l.ender's lien on the Real Property. Trustor shall
<br />reimburse Lsndar for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed
<br />of Trust, including without limitation all taxes, fees, documentary stamps, and ather charges for recording or registering this Deed of
<br />Trust.
<br />Taxes. The following shall constitute taxas to which this section applies: (1) a specific tax upon this type nf 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 Indebtadness secured by this type of Deed of Trust; (3) a tax on this type of Daed of Trust
<br />chargeable against the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Inde6tednsss or on
<br />payments of principal and interest made by Trustor.
<br />5u6sequent Taxes. If any tax to which this section applies is enacted subsequent to the date nf this Deed of Trust, this event shall
<br />have the same effect as an Event of Dafault, 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 section and deposits with Lendar cash or a sufficient corporate surety 6ond or other security satisfactory to l.ender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed pf Trust as a security agreement are a
<br />-- ---- .�. _ .._....__ _...__
<br />part of this Deed of Trust: ,,.: .-� .` ` -` � -
<br />6ecurity Agreement. Thjs instrument shall constitute a Security Agreement to the extent any of the Property consti#utes 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 />Security Interest. Upon request by Lender, 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 peed of Trust in the real property records, Lender may, at any
<br />time and without further authorization from Trustor, file executed counterparts, capiea ar reproductions of this Deed of Trust as a
<br />financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon
<br />default, Trustor shall not rempve, saver or detach the Personal Property from the Property. Upon default, Trustar 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 />availa6le to Lender within three (3) days after receiqt of written demand from Lender to the extent permitted by applica6le law.
<br />Addresses. The mailing addresses of 7rustor (debtor) and Lender (secured partyl frpm which information concerning the security
<br />interest grantsd by this Deed of Trust may be obtained leach as required by the Uniform Commercial Cpde) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-IN-FAC7. The following provisions relating to further assurencea and attorney-in-fact are a part of
<br />this Deed of Trust:
<br />Further Assurances. At any time, and from time to time, upon request pf Lender, Trustor will make, execute and deliver, or will cause
<br />to be made, exacuted or delivered, to Lender or to Lender's designee, and when requestad by l.ender, cause to be filed, recorded,
<br />refiled, or rerecorded, as the cass may be, at such times and in such offices and places as Lender may deem appropriate, any and all
<br />such mortgages, deeds ot trust, security deeds, sscurity 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, complete, perfect, continue, or preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Relat�d
<br />Documents, and (2) the liens and security interests created by this Deed of Trust on the Property, whether now 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. If Trustor fails ta do any of the things referred to in the preceding paragraph, Lender may do so for and in the name
<br />of 7rustor and at Trustor's expense. For such purposes, Trus#or hereby irrevocably appoints Lender es Trustor's attarney-in-fact far
<br />the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's
<br />sole npinion, to accomplish the matters referred to in the preceding paragraph.
<br />FULL PERFpRMANCE. If Trustor pays all the Indebtedness when due, and otherwise psrforms all the abligations imposed upon Trustor
<br />under this Deed of Trust, Lender shall execute and deliver to Trustee a request far full reconveyance snd shall execute and deliver to
<br />Trustor suitable statements of termination of any finanoing statement on file evidencing Lender's security interest in the Rants and the
<br />Personal Property. Any reconveyance fee requirsd by law shall be paid by Trustor, if permitted by applicable law.
<br />bEFAULT. At Lender's option, Trustor will be in default under this Deed of Trust if any of the following happen:
<br />Fraud or Material Misrepresentation. Trustor commits fraud or material misrepresentation in connection with the terms of the Note.
<br />Payment Default. Trustor fails to meet the repaymsnt terms of the Note for any outstanding balance.
<br />Other Defaul#s. Trustor's act or failure to act adversely affects Lender's security interest in the Property, or any right of Lender's in
<br />such security.
<br />� Right to Cure. If any default, other than a default in payment is curable and if Trustor has not been given a notice of a breach of the
<br />�n(� same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if Trustor, sfter Lender sends written
<br />��/ �� � � notice to Trustor demanding cura of such default: (1) cures the default within fifteen (15) days; or (2) if the cure requires more then
<br />h►„dFit' fifteen (15) days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and
<br />E1 r��� thereafter continues and completes all reasonable and necessary steps sufficient to praduce compliance as soon as reasonably
<br />pr8ctic8l.
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