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DEED OF TRUST � Q 1 O O�� S s
<br />(Cantinued) Page 4
<br />rights and remedies to which Lender may be entitled upon Default.
<br />WARRANTY; DEFENSE OF tl"fLE. 7ha following provisions ralating to ownership of the Property are a part of this Deed pf Trust:
<br />Title. Trustor warrants that: (a) 7rustor holds good and marketable title of record to the Property in fee simple, free and clear pf all
<br />liens and encumbrances other than thase set forth in the Real Property description pr in any title insurance policy, title repprt, or final
<br />title opinion issued in favor of, and accepted by, Lender in connectian with this Deed of Trust, and (b) Trustor has the full right,
<br />power, and authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph a6ove, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims pf all psrsons. In the eusnt any action or proceeding is commenced that questians Trustor's title or the
<br />interest nf Trustee or Lender under this Deed of Trust, Trustar shall defend the actipn 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 prnceeding
<br />by counsel of Lender's awn chaice, and Trustor will deliver, or cause tp be delivered, ta Lender such instruments as Lender may
<br />request from time to time to permit such participation.
<br />Campliance With L�ws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ordinances, and regulations ot governmental authorities.
<br />Survival of Representations mnd Werranties. All representations, warranties, and agreements made by Trustor in this peed pf Trust
<br />shall survive the axecutian and delivery of this Deed nf Trust, shall be continuing in nature, and shall remain in full fvrce and effect
<br />until such time as Borrower's Indebtedness shall be paid in tull.
<br />CONDEMNATION. Ths fpllowing provisions relating to condemnation proceedings �re a part of this Deed of Trust:
<br />Prpceadings. If any proceeding in candemnation is filed, Trustar shall promptly notify Lender in writing, and Trustor shall promptly
<br />take such steps as may be necessary to defend the action and obtain the award. Trustar may be the nominal party in such
<br />proceeding, but Lender shall be entitled ta participate in the proceeding and to be representad in the proceeding by counsel of its own
<br />choice, and Trustor will deliuer or cause Co be delivered to Lender such instruments and dacumentation as may be requested by
<br />Lender trom time to time to permit such participation.
<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding pr
<br />purchase in lieu of condemnetion, 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 rspair or restoration of the Property. The net proceeds ot the award shall mean the award after payment pf
<br />all reasonable costs, expenses, end attorneys' fees incurred by Trustee or Lender in connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHQRITIES. 1'he following provisions relating to governmental
<br />taxes, fees and charges are a part of this Deed of Trust:
<br />Current Texes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this Deed of 7rust
<br />and take whatever other action is requasted by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall
<br />reimburse Lender for all taxes, as descrihed balow, together with all expenses incurred in recording, perfecting or continuing this peed
<br />of Trust, including without limitation all taxes, fees, documentary stamps, and other chargas fpr recording or regis#ering this Deed of
<br />Trust.
<br />Taxes. The following shall cpnstitute taxes to which this section applies: 11) a specific tax upon this type of Deed of Trust nr upon
<br />all or any part of the Indebtedness secured by this peed of Trust; (2) a specific tax pn Borrower which Borrower is authorixad or
<br />required to deduct from payments on the Indebtedness secured hy this type of Deed of Trust; (3) a tax on this type of Deed of 7rust
<br />chargsable against the Lender or the hplder of the Note; and (a) a specific tax on all or any portion of the Indebtedness or on
<br />payments of principal and interest made by Bprrower.
<br />5uhsequent Taxes. If any tax to which this sectian applies is enacted subsequent to the date of this Deed pf Trust, this event shall
<br />have the same effec# as an Event of Default, and Lender may exercise any or all of its available remedies fpr an Evant of Default as
<br />providad 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 Lender cash or a sufficient corporate surety bond ar othar security satisfactory to Lender.
<br />SECURITY AGRE�MENT; FINANCING STA'TEMENTS. The following provisions relating to this Deed of Trust as a sacurity agreement are a
<br />pert af this Deed of Trust:
<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any pf the Property constitutes fixtures, and
<br />Lender shall heve all of the rights of a secured party under the Uniform Cammercial Code as amended from time to tims.
<br />Security Interest. Upan request by Lender, Trustor shall take whatever action is requested 6y Lender ta perfect and continue Lender's
<br />security interest in the Rents and Personat Property. In addition to recording this Deed of Trust in the real property records, Lender
<br />may, at any time and without further authprization from Trustor, file executed counterparts, copies or reproductions of this Deed of
<br />Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security
<br />interest. Upon default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall
<br />assemble any Persanal Property not affixed to the Property in a manner and at a place ressanably convenient to Trustor and Lender
<br />and make it availa6le 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 vf Trustvr (dabtor) and Lender (sacured party) from which information concerning ths security
<br />interest granted f�y this Deed of Trust may be nbtained (each as required by the Uniform Commercial Code) are as stated an the first
<br />page af this Peed of Trust.
<br />FURTHER ASSURANCE5; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of
<br />this Deed of Trust:
<br />Furthsr Assurances. At any time, and from time to time, upon request of Lender, Trustor will meke, execute and deliver, or will ceuse
<br />ta be made, executed or delivered, #o Lender or to Lender's designee, and when requestad by Lender, cause to be filed, recnrded,
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