|
201102195
<br />DEED OF TRUS7
<br />{Continued) aa�e 3
<br />WARRANTY; DEFENSE OF TIT�E. The tdlowing prov�sans relating to ownership of the Properly are a part ot this Deed of Trust:
<br />Tttle. Tnistor warranis that Ia) Trusmr holds good and ttmrketable title of record to the Property m tee slmple, tree end clear of ell liens and
<br />encumbrances other than thoae set tOrth in tlie Real Property description or in arry title v�surance pollcy, ritle report, or flnal title apinion
<br />issued In tavor ot, and accepted by, Lender in connectbn with this Deed of Trust, end (b) Trustor hes the tuli nght, power, and euthority to
<br />execute and deliver thls Daed of Tr�t to Lender.
<br />Defense of Title. Subiect to the exceptlon in the paragraph above, Trustor wartenta and will forever detend the tltle to the Property ageinst
<br />the lawtul claxns ot all persons. In the event arry action or proceedfig is comrnanoed thet questions TrusioYS Gfle or the M�terest of Trustee or
<br />Lender under this Deed of Trust Trustor shall detend the actlon at Trustor's expense. Trusta may be the nominel partv m such prxeeding,
<br />but Lender shall be entitled to participate in the proceeding and to be repr�ented in the proceeding by counsel of Lender's own choice, and
<br />Trustor will deliver, a cause to be delNered, to Lender such instruments as Lender may request hom tlme to time to permtt such
<br />parUCipation.
<br />Compliance With Laws. Trustor warrants that the Propertv and Trustors use of the Properry complies with all existing applicable laws,
<br />ordfnances, and regulatbns ot govemmental authorities.
<br />Survival ot Representationc and WartaMles. All represernationa, warranties, and agresments made by Trustor m this Deed of Trust shall
<br />survive the executbn end delivery of this Deed of Trust, shall be continwnp in neture, and shell remain �n tull force and eTfect urrtil such time
<br />as Trustors Indebtedness shell be paid in tulL
<br />CONDEMNATION. The rollowing provisions reladn9 to condemnation prxaedings are a pert of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnatbn is filed, Trustor shaN promptly raWy Lender �n wriGng, and Trustor shell promptly take such
<br />steps as may be necessary to detend the act(on and obtain the award. Trustor may be the nommal paM M such proceeding, but Lender
<br />shall be sntided to participate in the proceeding and to be represented in the proceeding by counsel af Its own choice, and Trustor wBl
<br />deliver or cause to 6e delivered to Lsnder such instrumeMS and documeMatlon as may be raquested by Lender trom tlma to time to petmit
<br />such parUapation.
<br />Applicatian of Net Proceeds. If all ar anv part of the Properry is condemned by eminent domein proceedings or by any proceeding or
<br />purchase �n lieu oi condemnatlon, l.ender msv at its electian require that all or any por[lon of the net proceeds of 1He award be applied � the
<br />Indebtedness or the repa�r or restoration oi the Praperty. The net procseds ot the award shell mean the award atter payment oi all
<br />reasoneble costs, expenses, and attorneys' fees incurred by Truatee a lender in connection wRh the condernnatlpn.
<br />IMPOSITION OF TAXES, FEES AMD CHAAGES BY GOVERNMENTAL AUTFIORI7IES. The tollowing provislons relating to govemmental taxes,
<br />tees and cherges are a paR of this Dead of Trust
<br />Current Taxes, Fees and Charges, Upon request by Lender, Trus�r shall execu[e such documents m additbn to this Deed of Trust and
<br />take whatever other actbn is requested by Lender to pertect and continue Lender's Ii� on the Real Property. Trustor shall relmburse Lender
<br />tor all taxes, as described below, together with all expenses incuRed in recording, pertecting or continuing this Deed of Trust, Including
<br />wilhout limitation ail taues, tsea, documentery stemps, and other charges tor recording or reg�stering this Deed of Trust
<br />Taxes. The tollowing shall constitute taxes to which this sectan applies: (1) a spac'rfic teu upon thle type of Deed of Trust or upon all or any
<br />pert of the Indebtednesa aecured by this Deed of Trust; (2) a specitb tex on Trustor which Trustor is authonzed or required to deduct from
<br />payments on the Indebtedness secured by thls type of Deed at Trust; (31 a tax on this rype of Dsed ot Trust cfiargeabte agex�st the Lerder
<br />or the holder of the Note; and (4) a speciBc tax on all or anV portlon of the Indabtedness or on psyments ot pnncipal and interest made bv
<br />Trustor.
<br />Subsequent Taxes. If any tex to which this sectlon applies is enacted subsequent to the date of this Desd of 7rust, this eveM shall have the
<br />same effect as an Event oF Detault, and Lender rrrey exercise any or ail of its availade remedles tor an Event of pefautt as provided below
<br />unless Trustor either (1) pays the ta�c betore it becomes delinquent or (2) contests the ffix as provided above in the Texes and Liens
<br />sectlon and deposits with Lender cash or a sutficle�t Corporate surery bond or other security salistectory to Lender.
<br />SECURITY AGREEMENT; FlNANCINCi 8TATEMENTS. The tollowmg provlsions relating to This Deed of Trust as a security agreement are a part
<br />ot this Deed M TrusC �
<br />Sacurity Agreement. This mstrument shall constitute s Securtty Agreement to the eMeht any of the Property consdtutes fixtures, and I.ender
<br />shall have all ot the rights of a secured perly under the Uniforrn Commercial Code as amended from time to tlme.
<br />Security Interest. Upcxi request by Lender, TrusWr shell take whatever acllon is requested by l.ender to pertect and con6nue lsnder's
<br />securiiy interest in the Rents and Personal Properly. In addition to record(ng lhis Deed of Tn�t in t�e real propertV records, Lender may, at
<br />any nme and without turther autlwnzatlon trom Trustor, flle execu[ed counterperts, copies or reproductiona ot this �eed ot Trust as a
<br />financing siatement. Trustor shell reimburse lsnder tor all expanses incurred in pertecting or continumg this aecurity uKerest Upon de[ault,
<br />Trustor shall rrot remove, sever a detach the Personel Property ttan the PropeM. Upcm detautt, TrusWr shall assemble arn Personai
<br />ProperN not affixed to tt�e Property �n e manner and at a place reasonablv convenient to Trustor and Lender and make ft available to Lender
<br />wfthln three (31 days aiter receipt of wrttten demand from Lender to the extent perrnitted by applicable law.
<br />Atidresses. The meiling eddresses of Trustor (debtor) and lsnder (secured party) trom whlch intorrnadon cancemmg the securily interest
<br />granted by ttiis Deed of Trust may be obteined (each as requved by the Un'rform Commerciel Code) are as steted on the first page ot this
<br />Deed of Trust
<br />FURTHER ASSURANCE3: ATTORNEY-IN•FACT. The tollowinp prov�sans relating to turther assurances and attomeY-in-tact are a part ot this
<br />Deed of Trust:
<br />Further Aasurenoes. At anv time. and trom tfine to time, upon request of Lender, Truator will meke, execute and deliver, or wIA cause b be
<br />made, euecuted o� dellvered, to Lender or � Lender's destgnee, and when requested by Lerider, cause to be filed, recorded, refiled, or
<br />rerecorded, as the case may be, at such tim� and in such otfices and places as Lender mey deem epprapnste, azry end all such mortgages,
<br />deeds ot dust, securlty deeds, security agreements, flnanc�n9 effitemeMS, contlnuation statements, ir�sVUments rn lurther assurarice,
<br />cerUficetes, and other documents as mey, in the sda opin�at of Lendet, be necessary or desiraWe in order to effecluate, complete, pertect,
<br />continue, or preserve (11 TrustoPS obligetions under the Note, this Deed of Trust, and the Related Documents, and (2) the liens and
<br />securitv �nterests created hy this Deed of Tnist as first and prior liens on the Propertv, wfieiher now owned or hereatter acquired by Trustor.
<br />Unless prohtbtted bY law or LBnder agrees to tl�e Oontrarv In wtldng, Trusta' shall reimburse Lender tor all co8ffi and expenses incurced in
<br />connectbn with the matters reterred to in thls paragraph.
<br />Attomey-�n-Fact. If Trustor tails to do azry of the thinps reterred to in tlie preceding peragreph, Lender maV do so tor and in the neme ot
<br />Trusror end at Truators exper�se. For such purposes, Trustor hereby irrevocabiy appomts Lender as Trustors attorney-in-tact tor the
<br />purpose ot making, executing, delivering, filing, recording, and doing all other things as may be necessary or desireble, in Lenders sole
<br />opinion, ta accomplish the matters rete�red to in the preceding peragreph.
<br />FULL PERFORMANCE. it Trusror pays aA tlte Indebtedness, Irxluding withoutlimitatiat all future advances, when due, and othetwise peYtorms
<br />all the obllgaUOns �mposed upon 7rustor under this Deed of Trust, Lerxler ahell execute and deliver to Trustee a request for tuil reconvevance and
<br />shall execute and deliver to Trusror suitable statert�enffi of terminaUOn ot arry financmg sffitement on (ile evidencmg Lenders securitv fnterest in the
<br />Rents and the Personaf Property. Arrv reconveyance tee requ�red bv law ehaH be paid by Trustor, iF permitted by applicable law.
<br />EVENT3 OF DEFAULT. Each of the follow�np, et Lender's option, shall constitute en Event ot Detault under ihis Deed M Trust:
<br />Payment Default. Trustor tails to meke any peymarrt when due under the Indebtedness.
<br />Othar Defaulta. Trustor tails to corty�ly wNh or to pertorm any other term, obligetlon, covenar�t or condition contamed in this Deed of Trust or
<br />u� anY ot the Related Documents or to co�r�piy with or to pertorm any term, oblfgaUOn, cwenent or condition contemed in any other
<br />agreement between Lender and Trustor.
<br />Compllance DetaulL Failure to complV with erry other term. obligation, covenerrt or condltlon contained M thls Deed of Trust, Me Note or in
<br />eny of the Relatad Documents.
<br />Default on Other Payments, Failure of Trusior within the time required by this Deed of Trust to make arw paymeM for texes or msurance, or
<br />a�v other payment necessarv to prevent f iling ot or to effeot dlscharge ot env lien.
<br />
|