|
DEED OF TRUST
<br />L��n Na: 1 Al237344 (Continued) 2 010 0 9 4 8 � P�ge 4
<br />Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable
<br />lews, ordinancas, and regulations of governmental authorities.
<br />Survivai qf Representations and Wa�ranties. All representations, warranties, and agreements made by 7rustor in this Deed of Trust
<br />shall survive tha execution and delivery nf this Deed af Trust, shall be continuing in nature, and shaq remain in full force and effect
<br />until such time as 8orrower's Indebtedness shall be paid in full.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />Rrocesdings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, end Trustpr shall prpmptly
<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 bs entitled ta participata in the prpceeding and #o be reprssented in the proceeding by cnunsel of its own
<br />cholce, and Trustpr will deliver or cause to be delivered to Lender such instruments end 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, I.ender may at its election require that all nr any qortion af the net proceeds of the award be applied
<br />to the Indebtedness or the repair pr restoratipn of the Prop9rty. The nst prpceeds pf the aw8rd shall mean the sward 8fter payment nf
<br />all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation.
<br />IMPOSITION OF TAXES, F��S AND CHARGE$ BY GQVERNMENTAL AUTHQRITIE$. The follpwing provisions rel�ting to governmental
<br />texes, fees and charges are a part of this Deed of Trust:
<br />Currant Texes, Fees �nd Chnrgas. 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 Lender's lien on the Real Property. 7rustor shall
<br />reimburse Lender for all taxes, as described below, together with all axpenses 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 canstitute texea to which this section applies: (1) a specific tax upon this type of beed of Trust or upon
<br />all pr any part af ths Indsbtedness secured by this Deed of Trust; (2) a specific tax on Borrower which Borrower is authorized or
<br />required to deduct from peyments on the Indebtedness secured by this type of Deed of 1"rust; (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 nn all or any portion of the Indebtedness nr pn
<br />payments of principal and interest made by 8arrpwer.
<br />Subsequent 7axes. If any tax to which this section applies is enacted subsequen# to the date of this Deed of Trust, this event shall
<br />havs the same effect as an Event ot �efault, and Lender may exercise any or all of 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 depasits with Lender cash nr a sufficient corpnrete surety 6ond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING S7ATEMEN7S. The following provisions relating tn this I�eed of Trust as a security agreement are a
<br />p8rt nf this Desd of Trust:
<br />Security Agraement. This instrument shall canstitute e Security Agreemsnt to the sxtent eny pf the Prpparty 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. Upan raquest 6y Lender, Trustar shall taks whatever actian is requested by Lender to perfact end 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, copies or reproductions of this Deed of
<br />Trust as a financing statement. 7rustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security
<br />interast. lJppn default, Trustor shall not remove, sever pr detech the Personal Property frnm the Property. Upan default, Trustor shall
<br />assemble any Personel Property not affixed to the Property in a manner and at a place reasonably cpnvenient to Trustor and �ender
<br />and make it available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable
<br />law.
<br />Addresses. 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 Unifnrm Cpmmercisl Code) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; A7TORN�Y-IN-FAC7. 7he following provisions relating to further assurances end sttornay-in-fact are a part of
<br />this Deed of Trust:
<br />Further Assurancea. At any time, and from time ta time, upon request of Lender, 7rustor 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 />rafilad, pr 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, sacurity agreements, financing statements, continuation statemen#s, instruments of
<br />further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirebla in ordar ta
<br />effectuate, complete, perfect, continue, or preserue (1) Borrower's and Trustor's obligetinns under the Note, this Deed of Trust, and
<br />the Related Documents, and (2) the liens and security interests created by this Deed of Trust as first and prior liens on the Property,
<br />whe#her now owned or hereafter acquired by Trustor. Unlsss prphibited by law or Lender agrees to the contrary in writing, Trustnr
<br />shall reimburse Lendsr for all costs and expenses incurred in connection wi#h tha mattars referred to in this paragraph.
<br />Attorney-in-Fact. If 1'rustor fails to do any of the things referred to in tha pracading paragraph, Lender may do so for and in the name
<br />of Trustor and at Trustor's expensa. For such purposes, Trustor hereby irrevocably apppints Lender as Trustor's attorney-in-fact for
<br />the purpase af making, executing, delivering, filing, recarding, and doing all other things as mey be necessary or desirable, in Lender's
<br />sole opinion, to accamplish the matters referred to in the preceding paragraph.
<br />FU�.I, PERFbRMANCE. If Borrower and Trustor pay all the Indebtedness, including without limitation all future edvences, when due, and
<br />Trustor ptherwise performs all the obligatipns imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver tn Trustee a
<br />
|