|
D�ED OF TRUST 2 0 l 0 U 7 8 9 4
<br />g � ` � A r ' � .�� . - (Continued) Page 3
<br />at the Note's maturity. The Deec9 qf Trust alsq will securo pt�yment of those t�mounts. Thc; rights provided for in this parayraph sh�ill be in
<br />addition ro any other rights or t�ny remedies 10 which Lendvr may be entitled on account of any de(e�ult. Any suehi action by l.ender shall
<br />not b�: construed �as curing the doff�ult so as to bar Landar from any remedy that it otherwise would have had.
<br />WARRANTY; DEFENS� OF TITL�. The follawing pravisions relating to ownership ot the Property are e� part of this Deed oi Trusl:
<br />7itle. Trustbr warranfs that: (a) Trusfor hplds good and markptable title pf record to the Property in fee simple, free and clear of all
<br />liens and encurtnbrances other th�n those set forth in the Real Praperty dascription ar in the Existiny Indehcedness section belc>w c>r in
<br />any tiUe insurance pc>licy, fitle report, ar final title opinion issuod in it�vpr pf, and accopted by, Lender in connection with this l7eed of
<br />Trust, and (b) Trustor has tha full right, power, and eiuthority to execute and deliver this Deed oi Trust to Lender.
<br />Defense of Titla. 5ubjeGt Co [he exceptipn in the paragraph above, Trustor warrants and will forever detend the title to the I'roperYy
<br />aqainst tho lawtul al�tims at all persons. In the event any action or proceeding is commenced thaf questions Trusf�>r's litle pr rhe
<br />inlerest qi 7rustaQ or Lender under this Deed oi Trust, Trustor shali defend the �ction t�t Trustor'S oxpense� Trustar may k�e The
<br />nnm�nal party in such proceeding, but Lender shall be entitlad to participate in the proceeding and to be representod in the proceeding
<br />by counsel of �ender's qwn choice, and 7rustor will deliver, or c�use to 6e delivered, fo Lender such instrumenis as Lender may
<br />request from time to time to p�:rmit such pt�rticipatipn.
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use �f the Property complies with all existing �pplicable
<br />laws, ordinancps, ��nd regulations oi governmental authorities.
<br />Survival of Promises. All prnmises, ayreemencs, �nd sratemencs Trustor has m�de in this Deeci of Trust shall survive the execution
<br />and delivery o( this Deed of Trust, shall be cantinuing in naturp and shai� remain in full fprce and efPect until such time as 1'rustor's
<br />Indebtedness is p�aid in tull.
<br />EXIS7ING IIVDEBTEDNESS. The following provisions concerning Existing Inde6tedness are a pert of this Ueed ot Trust:
<br />Existing Lien. The lien of ihis Deed oi 7rust securin,y fhe Indebfec�ness m��y be secondary ttnd inferipr fo an existing lien. Trustpr
<br />expressly covenants and a,yrpc;s to pay, or see tq lhc paymenT af, tha Existing Indebtedness and to prevent any detault on such
<br />indebtedness, eany default under the instruments evidencing such indetatedness, or �ny def�tult under any security documents tor such
<br />indebtedness.
<br />Nn Modification. Trustor shall not enter into any ayreement with the holder of any mortg�tge, deed of trust, ar qCher security
<br />�a,yreement whicYi has priority over this pped of Trust by which that Agrepmont is mpdifi�d, amended, extended, or renawed without
<br />the prior writt�n consent of LendE:r. Trustor shall neilher requc:st nor accc�pt a�ny futurp �dvances under any such security agreement
<br />wilhqut [he pripr written consent qt Lender.
<br />CQNDEMNATION. The following provisions relatiny to condemnation proceedings are a part af this Qoed of Trust:
<br />Prpcaadings. It any proceeding in condemn�ation is filed, Trustor shalt promptly notiiy L�nder in writing, and 7rustor shall promptty
<br />take such steps as may be neee55ary to defend the �ction and obtt�in lhe award. Trustpr may be tho nominal p�rtV in such
<br />prbceeding, but Lender sh�ll be entitied to participate in the prqcceding and io be represented in the proneeding by counsel c�( its own
<br />ehoice, and Trustor will deliver or causc ta be delivered to Lcnder such instrumenis and documentation as may be requested r�y
<br />Lendor frqm lime ta time ta permit such participation.
<br />Appiication of Net Proceeds. If all or nny parl p( the Property is cpndemned by eminont domain proceedings or k�y any prbcer;ding or
<br />purchr3se in licu of condemnation, Lender may at its election require thai all or any pbrtic�n of the net proc;eeds of th�� �3ward bc t3pplied
<br />to the Indebtedness or the repair or restoration of the Property. The net pr�c�eds o( thie �award sh�ll mpan the awt�rd aitGr payment of
<br />all reasonable costs, expenses, and attorneys' iees ineurred by Trustee or Lender in �pnnectiqn with the condemnation.
<br />IMPQSITION pF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions rc;lating to governmental
<br />laxes, fees and charyes �are a p�rt of this Deed q( Trust:
<br />Currvnt Taxvs, �eas and Charges. Upnn request by Lender, Trustor shall execute such documonts in addition to this D�ad at Trust
<br />and ttake whatcver other ��ction is requesTed by Lender ta perfect and continuc Lender's lien on the Real Property. 7rustor shall
<br />r�imburse Lend�r (or ��II taxes, as described below, tagefher with all expenses incurred in recording, perfecting or cpntinuing this Deed
<br />pf TrusY, including withoul limitation all taxes, fees, document�ry stamps, and other charges (nr recording or registering this []t�ed o(
<br />Trust.
<br />Taxns. The iollowing shall cbnstitute teaxes to which this sectian applies: (1) a speciiic tax upon this type of Deed of Trust or upon
<br />all or any part o( the Indebtedness sec:ured by this Depd of Trust; (2) � specific tax on 7rustor which 7rustor is authorized or
<br />required Yo d�c9uct frt>m paymenis an the IndeUtedness secured by this type of Deed ot Trust; (3) a tax on this type of Deed of Trust
<br />chargeable t�gainst the Lender pr the holder ot the Note; and (�il a specific tax on all or any portion of the Indebtedness or on
<br />pt3yments of principal and interest made by Trustor.
<br />Subsequent Taxes. If any ttax ta whic;h this section applies is enactod subsequent to the date oi this Deed of Trust, this evenc shall
<br />havi: trx: s<amc pffect as ��n Evont ot Detault, and Londer may exercise rany or all of its availablE remedies for an Event o( D�;fault as
<br />prqvided bt�lqw unless Trustor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as prc�vided abov�� in the
<br />Tt3xes and Liens section and deposits wilh Lender cash or a suNicient corporate surety bnnd or other sf;curiry s�tisf�ctory to Lnnder.
<br />S�CURITY AGREEMENT; FINANCING S7A7EMEN7S. The foll��ving provisions relatiny to this Deed of Trust t�s a securify �greemrnt are a
<br />part of this Dead of Trust:
<br />5ecurity Agrvemvnt. This instrument shall constitute a Security Agreement to the excent any of the Property constitutos iix�ures, and
<br />Lender shall have f�ll of the rights of � secured p�arty under the Uniform Commercial Code As amended from time to time.
<br />Sacurity Interest. Upon requeSC by Lertder, Truslor shall tttke whatevar action is requested by Lender to perfect and continue L.ender's
<br />security interast in the Person�l Property. In fldditipn ta recording this ❑eed of Trust in the real property records, Lender may, at any
<br />time and withoul (urther �uthorization trom lrustor, tile executed counterparts, copies or reproduc;tions of thi5 Deed of Trust as ��
<br />fint�ncing statement. Trustor shall reimburse Lender tor all expenses incurred in perfectin,y or c:nntinuing this securiry inlarest. Upon
<br />default, Trustor shall nqt remove, sever or det�ach the Person��l Property (rom the Property. Upon deft�ult, Trustor shall assemble any
<br />f'ersonal Property not �a((ixed fo the Prpperry in a manner and t�t � placa reasonably convenient to Trustor and Lender and make it
<br />��vail,3blF fo L�;ndcr within thrpe (3) dt�ys s�tter receipt ot written damand from Lender to the extonf permittc�d by applicable law.
<br />Addresses. The m�iling address<:s of Trusfor (debtpr) and Lender (secured pt�rly) from which information concerning the security
<br />incerest granted by this Deed of Trust may be obtained (each as required by the Uniform Comm4rcial Cpdo) are as stated on the tirst
<br />pt�ge of this beed qf Trust.
<br />FURTHER ASSURANCES; ATTO�IIVEY-IN-FAC7. The i�llowiny provisions relating to further assurances and atTOmey-in-facl are a part of
<br />ihis Deed ot Trust:
<br />Further Assurancas. At any time, and from time to time, upon request o( Lender, Trustor will m�ke, exocute and deliver, ar will c��use
<br />to be made, executed or delivered, to Lender or to Lender's designee, 3nd when requested by Lender, cause to be filed, recorded,
<br />re(iled, or rerecorded, as the case may be, at such times and in such qtfices and placos as Lendor may deem appropriate, any and all
<br />such mprtgages, deeds of trust, security deeds, securify agreements, financiny statements, cbntinuation ste�temenls, in5truments o(
<br />turther essurance, certific�tes, and othier documents as m�y, in the solG; opinion of Lcnder, be necess�ry or desir�ble in nrder ta
<br />ef(ectuate, c:omplete, perfect, continue, or preserve (1 � Trustor's obligations under the Note, this Deed of Trust, and the Related
<br />Documents, and (2) the liens and security interests created by this Deed ot 7rusl on the Property, whefher now owned or hereafter
<br />acquired by Trustbr. Unless prohibifecJ by I�tw or Lender �grees to the contr��ry in writing, Trustor shall reimtaurse Lendpr ipr t�ll costs
<br />�nd exppnses incurred in connection with the matters referred to in this paragraph.
<br />Attorney-in-Fact. If Trustor fails to do any ot the things referred to in the precading paragraph, Lender may do so for and in th� name
<br />of Trustor �3nd ��t i"rustor's c�xK�ensu. Fbr auch purposes, Trustor hereby irr��vac;ahly apK>qints L�nder as Trustor's at�c�rney-in f��ct (pr
<br />the purpps�� oi makin,y, executing, delivpring, filing, recording, and daing all othpr things t�s may be neaess�ry or d�sirable, in Lender's
<br />sole opinion, to accomplish lhe matters reierred to in tho precading paragr�iph.
<br />
|