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D�ED OF TRUST 2 � 10 0 g(j 5 �
<br />I�oan No: $08322 (Cantinued) Page 3
<br />any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, l.ender in connection with this Deed of
<br />Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this �eed of Trust to Lender.
<br />Defense of Title. Subject to 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 eny action or proceeding is commenced that questions Trustor's title or the
<br />interest of Trustee or Lender under this beed 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 />py counsel of Lender's own choice, and Trustor will deliver, pr cause to be delivered, to Lender such instruments as Lender may
<br />request from time to time to permit such participation.
<br />Compliance With Laws. 7rustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />laws, ordinances, and regulations 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 of this beed of Trust, shall be continuing in nature snd sheli ramain in full force and effect until such time as Trustor's
<br />Indebtedness is paid in full.
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing �ndebtedness are a part of this Deed of Trust:
<br />Existing Lien. The lien of this Deed of Trust securing the Indebtedness mey be secondary end inferior to an existing lien. Trustor
<br />expressly covenants and agrees to pay, or sae to the payment of, the Existing Indebtedness and to prevent any default on such
<br />indebtedness, any default under the instruments evidencing such indebtedness, or any default under any security documents for such
<br />indebtedness.
<br />No Modificatian. 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 peed of Trust by which that agreement is mpdified, amended, extended, or renewed without
<br />the prior written consent of Lender. Trustor shall neither request nor accept any future advances under any such security agreement
<br />without the pripr written consent of Lender.
<br />CONDEMNATION. The following provisions rela#ing to condemnation proceedings are a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shali promptly notify Lender in writing, and Trustor shall promptly
<br />take such steps as may be necessary to defsnd the action and obtain the award. Trustor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and Trustor will deliver or cause to be delivered to Lender such instrumants and documentation 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 require tha# all or any portion of the net proceeds of the award 6e applied
<br />to the Indebtedness or the repair or restoration of the Property. 7he net 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 />IMPQSITIpN pF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this C]eed of 7rust:
<br />Current Taxes, Fees and Charges. Upon request by L�nder, 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 below, together with all expenses incurred in recording, perfecting or continuing this Qeed
<br />of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of
<br />Trust.
<br />7'axes. The following shall constitute taxes to which this section applies: (1) a spacific tax upon this type of Deed of_ Trust or upon
<br />all or any part of the Indebtedness secured 6y this Deed of Trust; (2) a specific tax on Trustar which Trustar is authorized or
<br />required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust
<br />chargeable against the Lender or the hplder 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 />5ubsequent Taxes. If any Tax ta which this saction applies is enacted subsequent to the date of this Deed of ?rust, this event shall
<br />have the same effect as an Event of Default, and Lender may exercise any or all ot its available remedies for an Event of befault 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 L.iens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. 7he fnllowing 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 5ecurity Agreement to the extent any of the Property constitutes 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 Deed of Trust in the real property records, Lender may, at any
<br />time and without further authorization from Trustor, file executed counterparts, copies or reproductions of this peed 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 rembve, sever or detach the Personal Property from the Property. Upon default, Trustor shall assem6le any
<br />Personal Property not affixed to the Property in a manner and at e plece reasonably convenient to Trustor and Lender and make it
<br />available to Lender within three (3) days after receipt of wri#ten demand from Lender to the extent permitted by applicable law.
<br />Addresses. The mailing addresses of Trustor (debtor) and l�ender (secured party) from which information concerning the security
<br />interest granted by this Deed of 7rust may be obtained (each as required by the Uniform Commerciel Code) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; /aTTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of
<br />this Deed of Trust:
<br />Further Assurenaes. At sny and -from tima #o tfm�; upon request of Lender, Trustor will make, execute and deliver, or will causa
<br />to be made, executed or dslivered, to Lender or to Lender's designee, and when requested by Lender, cause to be ffled, recorded,
<br />refiled, or rerecorded, as the case may be, at such times snd in such offices and pleces as Lender may deem appropriate, any and all
<br />such mortgages, deeds af trust, security deeds, security agreements, financing statements, continuatian statements, instrumenks 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 Related
<br />Documents, and (2) the liens end security interests created by this Deed of Trust on the Property, whether now owned or hereafter
<br />acquired by Trustor. Unlsss 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 r�ferred to in this paragraph.
<br />Attorney-in-Fact. If Trustor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name
<br />af Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints Lender as Trustor's attorney-in-fact for
<br />the purpose of making, executing, delivering, filing, recording, and doing all other things as may 6e necessary br desireble, in Lender's
<br />sole opinion, to accomplish the matters referred to in the preceding paragraph.
<br />FULL P�fiFORMANCE. If Trustor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Trustor
<br />under this Deed of Trust, Lender shall execute and deliver tv Trustee a request for full reconveyance and shall execute and deliver to
<br />Trustor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the
<br />Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted by applicable law.
<br />EVENTS OF DEFAULT. At Lender's option, Trustor will be in detault under this Deed of Trust if any of the following happen:
<br />Payment Default. Trustor fails to make any payment when due under the Indebtedness.
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