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' ' ; ; ; �, , ., . DEED OF TRUST � O � � (� 1 r J 3 "�
<br />' ' (Continued)
<br />Page 3
<br />for in this paragraph shall ae in addition to any other rights or any remedies to which Lender may be entitled on account of any default.
<br />Any such action by Lender shall not be construed as curing the default so as to bar Lender from any remedy that it otherwise would have
<br />had.
<br />WARRANTY; pEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants tFiat: la) Trustor holds good and marketable title of record to the Property in fee simple, free and clear of all
<br />liens a�d encumbrances other than those set forth in the Reaf Property description or in any title insurance policy, title report, or tinal
<br />title opinion issued in favor of, and accepted by, Lender in connection 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 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, 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 irr 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 />Comptiance 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 governmental authorities.
<br />Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shatt survive the execution
<br />and delivery of this Deed of Trust, shall be continuing in nature and shall remain in full force and eftect until such time as T�ustor's
<br />Indebtedness is paid in fulL
<br />CONDEMNATION. The following provisions relating to condemnation proceedings`are a part of this Deed of Trust:
<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 rtominal 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 witt 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 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 ot 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 />taxes, fees and charges are a part ot this Deed 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 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.conti�uing this Deed
<br />of Trust, including without limitation atf taxes, fees, documentary stamps, and other charges for recording or registering this Deed of
<br />Trust
<br />7axes. 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 ot 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 appties is enacted subsequeni 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 delinquenY, 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 Deed of Trust:
<br />Security Agreement. This i�strument 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. tn addition to recording this Deed of Trust in the real property records, Lender may, at any
<br />time a�d 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 incurreii in pertecting or continuing this security interest. Upon
<br />default, Trustor shall not remove, sever or detach the Personal Property frorr,: 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 />Addresses. The maiting addresses of Trustor (debtor) and Lender (secured party) from which information concerning the security
<br />interest granted by this Deed of Trust may be olitained (each as required by the Uniform Commercial Code) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-lN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part 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 tender may deem appropriate, any and a!!
<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 sote 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 and security interests created by this Deed of Trust as first and prior liens on the Properiy, whether
<br />now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall
<br />reimburse l.ender for alt cos[s and expenses incurred in connect+on 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 Trustor's expense. For such purposes, Trustor hereby irrevocably appoints Lender as Trusior's aitorney-in-fact for
<br />the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's
<br />sole opinion, to accomplish the matters referred to in the preceding paragraph.
<br />FULL PERFORMANCE. 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 to Trustee a request for full reconveyance and shall execute and deliver to
<br />Trustor suitable statements of termination of any tinancing statement on file evidencing Lender's security interest in the i�ents and the
<br />Personal Property. Any reconveyance tee 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 defau(t 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.
<br />Break Other Promises. Trustor breaks any promise made to Lender or fails to perform promptly at the time and strictly in the manner
<br />provided in this Deed of Trust or in any agreement retated to ihis Deed of Trust.
<br />Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note
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