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<br /> DEED OF TRUST
<br /> (Continued) 201009053 Page s
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<br /> not be construed as Curing the default so as to bar Lander from any remedy that it otherwise would have had.
<br /> WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a partQf 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 the Existing Indebtedness section below or in
<br /> any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br /> Trust, and (b) Trustor has the full right, power, and authority to execute and deliver this Deed 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 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 /> by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such Instruments as Lender may
<br /> request from time to time to permit such participation.
<br /> g g Compliance With Laws.. Trustor warrants that. the Property and Trustors use of the, Property•CompIces with all eKis a fisting appiicable
<br /> lAws', ordiriand'es, and're ulati'ons bf dvenimental"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 Deed of Trust, shall be continuing in naturd and shall remain in full farce and effect until such time as Trustor's
<br /> Indebtedness is paid in full.
<br /> EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br /> Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to the lien securing payment of
<br /> an existing obligation. The existing obligation has a current principal balance of approximately $237,301.00. The obligation has the
<br /> following payment terms: $1,381.00 per Month, Trustor expressly covenants and agrees to pay, or see to the payment of, the
<br /> Existing Indebtedness and to prevent any default on such indebtedness, any default under the instruments evidencing such
<br /> indebtedness; Cr any default under any security documents for such indebtedness,
<br /> No Modification. 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 Deed of Trust by which that agreement is modified, 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 prior written consent of Lender.
<br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a' part of this Deed of Trust:
<br /> Proceedings. If any proceeding in condemnation fig' filed, Trustor 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. 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 instruments and documentation as may be requested by
<br /> Lender from time to time to permit such participation.
<br /> Application of Not 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 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 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 /> IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br /> taixas, fpe.g ankchp-Ws.are a part of this Dsqd,~of Trust; . ;
<br /> Current Taxes, 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 perfect and continue Lenders 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, Deed
<br /> of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of
<br /> Trust.
<br /> Taxes. The following shall constitute 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; (2) a specific tax on Trustor which Trustor 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 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 Taxes. If any tax. to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shall
<br /> ,have the same effect as an Event of Default,.and Lender may exercise any or all of Its available remedies for an Event 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 bond or other security satisfactory to Lender,
<br /> SECURITY AGREEMENT;' FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a
<br /> part of this Dead of Trust:
<br /> Security Agreement. This instrument shall constitute a Security 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 Deed 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 remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble any
<br /> Personal Property not affixed to the Property in a manner and at a place 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 /> mAditres'sei° "wThe r~aflttiggidcMesgYaBroFr?ffga or :(d btnr)•.ond Lender (secured party), from which Information concerning the security
<br /> interest granted by this Dead of "Frost May bd Ublail4i (each- 46'fr glulrodl.by the'Uniform 'Gr►rr(merol l Code') are as'stated on 4Tie 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 apart of
<br /> this Deed of Trust:
<br /> Further Assurances. At any time, and from time to time, upon, request of Lender, Trustor 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 rerecorded, as the case may be, at 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 statements, continuation statements, instruments 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) Trustors obligations under the Note, this Deed of Trust, and the Related
<br /> Documents, and (2) the liens and security Interests created by this Deed of Trust on the Property, whether now awned or hereafter
<br /> acquired by Trustor. Unless 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 referred 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 /> of Trustor and at Trustors expense. For such purposes, Trustor hereby Irrevocably appoints Lender as Trustors attorney-in-fact for
<br /> the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lenders
<br /> sole opinion, to accomplish the matters referred to in the preceding paragraph.
<br /> FULL PERFORMANCE. If Trustor pays all the Indebtedness, Including without limitation all future advances, when due, and otherwise
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