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' , f ; �' DEEDOFTRUST 20iOQ$O3ti
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<br />either (1) the term of any applicable insurance pplicy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment
<br />which will be due and payable at the Note's maturity. The Deed of Trust also wil► secure payment of these amounts. The rights provided
<br />for in this paragraph shall be in addition to any other rights or any remedies to which I.ender may be entitled on account of any default.
<br />Any such action by Lender shall not he construed as curing the default so as to bar l.ender from any remsdy that it otheNvise would 'have
<br />had.
<br />WARRANTY; DEFENS� OF T1TLE. The tollowing provisions relating to ownarship of the Property are a part of this Deed af Trust:
<br />Title. Trustor warrants that: (a) Trustor hpids good and marketable title of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than those set forth in the Real Property descriptipn or in any title insurance policy, title repoR, or Bnal
<br />title opinipn issued in favor of, and accepted by, Lsndsr in connection with this Deed of "�rust, and (b) Trustor has the full right,
<br />power, and authority to exacuta and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, 1'rustor warrants and will forever defend the title to the Property
<br />against the lawful claims of aU persons. In the event any action or proceeding is commenced that questions Trustor's title or the
<br />interest af Trustee or Lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. Trustor may be the
<br />nominal party in such proceeding, but Lender &hall be entitled to participate in the proceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliver, oc Cause tD be delivered, to Lender such instruments as Lender may
<br />request from time tq time to permit such participation.
<br />Gompllance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ordinances, and regulatlans of governmental authorities.
<br />Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execution
<br />and delivery af this Deed of Trust, shall be continuing in nature and shall remain in full force and effect until such time as Trustor's
<br />Indebtedness is paid fn full.
<br />CQNDEMNATION. The following provislons relating to condemnation proceedings are a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustar shall prqmptly notify L.erxfer in writing, and Trustor shall promptly
<br />take such steps as may be neoessary to defend the action and obtain the award. Trustar may be the naminal party in such
<br />proceeding, but Lender shall be entitled to participate in the prooeeding and tp be represented in the proceeding by counsel pf its own
<br />choice, and Trustor will deliver or cause to be delivered to Ler�der such instruments and documentation as may be requested by
<br />Lerider from time tq time to permit such participation.
<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminenf domain proceedings or by any proceeding or
<br />purchase In Iieu of condemnatipn, Ler�der may at its election r�equire that all or any portian of the net prooeeds 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 costs, expenses, and attorneys' Tees incurred by Trustee or Lender in connectipn with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGHS BY GOVERNMEN7AL AU7MORITIES. The following provisions relating to govemmental
<br />taxes, fees and charges are a part of this Daed of Trust:
<br />Gurrent Taxas, 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 F'roperty. Trustor shall
<br />reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, pertecting or continuing this Deed
<br />of Trust, including without limitation all taxes, fees, dpcumentary stamps, and other charges for recording or registering this Deed of
<br />Trust.
<br />Taxes. The following shall constitute taxes to which this saction applies: (1) a specific tax upon this type of Deed of Trust or upon
<br />all or any part of the Indebtednesa secured by this peed of Trust; (2) a specific tax on Trustor which Trustor is authorized or
<br />required to deduct from paym�nts on the Indebtedness seoured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust
<br />chargeable against the Lender qr the holder of the Nqte; and (4) a specific tax on all or any portion of the Indebtedness or on
<br />payments of principal and interest made by Trustor.
<br />Subsequent Taxes. If any tax to which thls section applies is enacted subsequent to the date of this Deed of Trust, this event shall
<br />have the same effect as an Ever�t of pefault, and Lender may exercise any or all of its available remedies for an Event of [)efault as
<br />provided below unless Trustor either (1) pays the tax before it beoaries delinquent, or (2) contests the tax as provided above in the
<br />Taues and Liens section and deposits with Lerider cash or a sufficient corparate surety bond or other security satisfactory to Lender,
<br />SECURITY AGREEMENT; FINANCING 37A7EMENT3. The following provisions relating to this Deed of Trust as a security agreement are a
<br />part of this Deed of Trust:
<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property Constitutes fixtures, and
<br />Lender shatl have all of the rights of a secured party under the Uniform Cpmmercial Cpde as amended from time to time.
<br />Security Interest Upon request by Lender, Trustor shall take whatever action is reqwested 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, l.ender may, at any
<br />time and without further authorization from Trustor, file executed counterparts, copies pr reproductions of this Deed of 7rust 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 remove, sever or detach the Personal property from the Praperty. Upon default, Trustor shall assemble any
<br />Personal Property not affixed to the Property in a manner and at a plaGe reasonably convenient to Trustor and Lender and make it
<br />available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable law.
<br />Addresses. The malling addresses of 7rustor (debtor) and Lender (secured party) from which informatipn concerning the security
<br />interest granted by this Deed of Trust may be obtained (each as required by the Uniform Commerciai Code) are as stated on the first
<br />page of this Deed of Truat.
<br />FURTHER ASSURANGES; AT70RNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of
<br />this Deed of Trust:
<br />Further Assurancas. At arry time, and irom time to time, upon request vf Lender, Trustor will make, execute and deliver, or will cause
<br />to be made, executed or delivered, to L.erid�r or to Lenders designee, and when requested by Lender, cause to be filed, r�corded,
<br />refiled, or rerevor�ted, as the case may be, at such times and in such offices and places as Lender may_.�ieem appropriat�, any �nd all
<br />su�fi mortga�es, deeds�of trust, security daeds, securily agreefr�erits. �i`nancirig statem�n4s, continuartfon statements, instrumerrts af
<br />further assuranoe, certificates, and other documerrts as rrrdy, in the sale Qpinion of Lender, be nepessElry or desirable in order to
<br />effectuate, complete, perfect, corninue, or preserve (1) Trustors obligatlons under the Nate, this Deed of Trust, and the Related
<br />Documerns, and (2) the liens and security interests p'�8ted t�y this Deed of Trust as first and prior liens on the Properiy, whether
<br />now owned or hereafter aoquired by Trustor. Unless prohibited by law or Le�ider agrees to the coritrary in writing, Trustor shall
<br />reimburse Ler�der for all costs and e�ises incurred in cannection with the matters neferred to in this paragraph.
<br />Attorney-In-Fact If Trustor fails to do any of the things refeired to in the preceding paragraph, Lender may do sp for and in the name
<br />of 7rustor and at 7rustors expense. For such purposes, Trustor hereby irrevocably appoints Ler�der as Trustor's attorney-in-fact for
<br />the purpose of ineking, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender"s
<br />sole ppinion, to accomplish the matters referred to in the pr�eoeding paragraph.
<br />FULL PERFORMANCE. If Trustor pays all the Indebtedness, inGuding without limitation all future advanoes, when due, and otherwise
<br />pertorms all the obligations irriposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full
<br />reoonveyance and shall execute and deliver to Trustor suitable statemerita of termination of any financing statement ,on file evidencing
<br />l.ender's security interest in the Rerrts and the Per�3onal Prnperly. Any reconveyance fee required by law shall be paid by Trustor, if
<br />permitted by applicable law.
<br />DEFAULT. At Lenders option, Trustor will be in default under this Deed of 1'rust if any of the following happen:
<br />Fraud or Material Mfsrepresentatfon. Trustor commits fraud or material misrepresentation in cqnnectipn with the terms qf the Note.
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