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DEED OF TRUST � Q 1 O O S 6 3�
<br />r i: �' ; c���� t F;' (Continued) Page 3
<br />such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (�) be added to the
<br />balance bf the Note and be appprtioned among and be payable with any installment payments ta become due during either (1) the term of
<br />any applicable insurance policy; or (2) the remaining term of the Note; or (G) be treated as a balloon payment which will be due and
<br />payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. Such right shall be in addition to all other
<br />rights and remedies to which Lender may be entitled upon Default.
<br />WARRANTY; DEFENS� pF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants that: (a) Trustor holds 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 description or in any title insurance policy, title report, or tinal
<br />title opinion issued in favor of, and accepted by, Lender in connectivn 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 #o the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the
<br />interest of 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 shall be entitled to participate in the proceeding and to be represented in the proceeding
<br />6y counsei of Lender's own chpice, and Trustor will deliver, or cause to 6e delivered, to Lender such ins#ruments as Lander may
<br />request from time tq time to permit such participation.
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ordinances, and regulations of governmentai authorities.
<br />Survival of Representations �nd Warranties. All representations, warranties; and agreements made by Trustor in this Deed pf 7rust
<br />shall survive the execution and delivary of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect
<br />until such time as Trustor's Indebtedness shell be paid in full.
<br />CONDEMNATION. The fallowing provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />Prnceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall promptly
<br />tske such steps as may be necessary to defend the action and o6tain the award. Trustor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the proceeding end to 6e rapresented in the proceeding by counsel of its own
<br />choice, and Trustor will deliver or cause to be delivered to Lender such instruments and documsntetion 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 the Property is condemned by eminent domain proceedings or by any proceeding or
<br />purchase in lieu of condemnation, Lender may at its election requira that all or any portion of the net proceeds of the award be applied
<br />to the Indebtedness or the repair or restoration of the Property. The nst proceeds of the award shall 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 BY GQVERNMENTAL AUTMORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lendar, 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 Lender's lien on the Real Property. Trustor shall
<br />reimburse Lender for all taxes, as described belnw, together with all expenses incurred in recording, perfecting or continuing this Deed
<br />of Trust, including without limi[a[ion all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of
<br />Trust.
<br />Taxes. The following shall ennstitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust or upon
<br />all or any part of the Indebtedness secured by this Deed of Trust; 12) a specific tax on Trustor which Trustor is authorized or
<br />required to deduct fram payments on the Indebtedness secured by this type of beed of Trust; (3) a tax on this type of Deed 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 Indebtedness or on
<br />payments of principal and interest made by Trustor.
<br />Subsequent 7axes. If any tax to which this section applies is enacted subsequent to the date of this �eed of Trust, this event shall
<br />have the same effect as an Event of �efault, and Lender may exercise any or all of its available remedies for an �vent 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 Lender cash or a sufficient corporate surety bnnd or other security satisfactary to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to #his beed af 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 af the Property constitutes fixtures, and
<br />Lender shall have all of the rights of e secured party under the Uniform Commercial Code as amended from time to time.
<br />Security Interes#. Upon request by Lender, Trustor shall take whatevar action is requested by Lender to perfect and continue Lender's
<br />security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender
<br />may, at any time and without further authorization from Trustor, file executed counterparts, copiss or reproductions of this Deed of
<br />Trust as a financing statement. Trustor shall reim6urse 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, Trustar shall
<br />assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor and Lender
<br />and make it available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applica6le
<br />law.
<br />Addrasses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information concerning the security
<br />interest granted by 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 />FURTHER ASSURANCES; ATTpRNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-tact are a part of
<br />this Deed of Trust:
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Trus#or will make, execute and deliver, or will cause
<br />to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded,
<br />refiled, or reracorded, as the case may be, et such times and in such offices and places as Lender may deem appropriate, any and all
<br />such mortgages, deeds of trust, security deeds, security agreements, financing s#atements, continuation statements, instruments of
<br />further assurance, certificates, and other dacuments as may, in the sole opinion of Lender, be necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or praserve (1) Trustor's o6ligations under the Nota, this Deed of Trust, and the Related
<br />Documents, and (2) ihe liens and security in#eres#s created by this Deed of Trust as first and privr liens on the Property, whether
<br />now owned or hereafter acquired by Trustor. Unless prohihited by law or Lender agrees to the contrary in writing, Trustor shall
<br />reimburse Lender for all costs and expenses 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 preceding paragraph, Lender may do so for and in the name
<br />of Trustor and at Trustor's expense. Far such purposes, Trustor here6y irrevocably appoints Lender as Trustor's attorney-in-fact for
<br />the purpose of making, executing, delivering, filing, recording, and doing ell other #hings as may be necessary or desirable, in Lender's
<br />sole opinion, ta accomplish the matters referred to in the preceding paragraph.
<br />FULL PERFQRMANCE. If Trustor 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 to Trustor suitabla 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. Each of the following, a# Lender's option, shall constitute an Event of Default under this Deed of Trust:
<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
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