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Loan No: 1012364$3
<br />DEED OF TRUST �O 1 �D � 9 7 5 5
<br />(Continued) Page 4
<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 7rustee or Lender under this Deed of Trust, Trustar 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 counsel of Lender's. own choice,. and Trustor will deliver, or cause to be delivered, to Lender such instr.um�nxs as. Len�ier. may
<br />requesi from time to time to permit such participation,
<br />Compliance With Laws. Trustor warrants that the Prnperty and Trustor's use of the Prvperty complies with all existing applicable
<br />laws, ordinances, and regulstions 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 Deed af Trust, shall be continuing in nature and shsll remain in full torce and effect until such time as 7rustor's
<br />Indebtedness is paid in full.
<br />EXISTING INDEBTEDNESS. The fallowing provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />Existing Lien. The lien of this Deed of 7rust securing the Indebtedness may be secondary and inferior to an existing lien. Trustor
<br />expressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any default an such
<br />indebtedness, any dsfault under the instruments evidencing such inde6tedness, or any default under any security documents for such
<br />indebtedness.
<br />No Modification. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or ather security
<br />agreement which has priority over this Peed 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 />COND�MNA"TIpN. 7he follawing provisions relating to condemnativn proceedings are a part of this Deed of 7rust:
<br />Proceedings. If any proceeding in condemnation is 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 tn participate in the proceeding and to be represented in the proceeding by counsal of its own
<br />choice, and Trustvr will deliver or cause [o be delivered to Lender such instruments and documentation as may be requested by
<br />Lender from time to time to permit such participatipn.
<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 aleotion require that all or any portion of the net proc�ads of the award be applied
<br />to the Indebtedness or the repair or restoratian 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 TAX�S, FE�S AND CHARGES BY G�VERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Fees and Chargas. Upon request by Lender, Trustor shall sxecute such documents in addition to this beed of Trust
<br />and take whatever other actian is requested by Lender to perfect and cvntinue Lender's lien on the Real Property. Trustar shall
<br />reimburse Lender for all taxes, as described below, [ogether with all expenses incurred in recording, perfecting or continuing this Deed
<br />of 7rust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of
<br />7rust.
<br />Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of 7rust 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 />chergeable 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 ta 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 evailable remedies for an Even# af Default as
<br />provided below unless Trustnr 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 AGR�EMEN7; FINANCING STATEMENTS. 7he following provisions relating to this Deed of 7rust 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 shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
<br />5ecurity 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 assem6le any
<br />Perspnal 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 />Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information enncerning 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 />PURTH�R ASSUHANCES; ATTORNEY-IN-FACT. The following pravisions relating to further assurances and attorney-in-fact are a part of
<br />this Deed of Trust:
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