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DEED OF TRUSjT I 2 01 i 0 2'7 9 3
<br />(Continued) I Page 3
<br />wa
<br />satisfactory proof of such expenditure, pay or reimburse Trustor frbm the roc ds for the reasonable cost of repair or restoration if
<br />Trustor is not in default under this Deed of T ust. Any proceeds which h ve n t been disbursed within 180 days after their receipt
<br />and which Lender has not committed to the re air or restoration of the Pro erty hall be used first to pay any amount owing to Lender
<br />under this Deed of Trust, then to pay accru d interest, and the remaind r, if any, shall be applied to the principal balance of the
<br />Indebtedness. tf Lender holds any proceeds after payment in tull of the Inde tedness, such proceeds shall be paid to Trustor as
<br />Trustor's interests may appear.
<br />Trustor's Report on Insurance. Upon request f Lender, however not mor ,tha once a year, Trustor shall furnish to Lender a report
<br />on each existing policy of insurance showing: (1) the name ofi the linsurer (2) the risks insured; (3) the amount of the policy; (4)
<br />the property insured, the then current replac ment value ot such propert , an the manner of determining that value; and (5) the
<br />expiration date of the policy. Trustor shall, u on request of Lender, have an in ependent appraiser satisfactory to Lender determine
<br />the cash value replacement cost of the Proper y.
<br />LENDER'S EXPENDITURES. If any action or proce
<br />Trustor fails io comply with any provision of this C
<br />discharge or pay when due any amounts Trustor is
<br />on Trustor's behalf may (but shail not be obliga
<br />discharging or paying all taxes, liens, security intel
<br />paying all costs for insuring, maintaining and prese
<br />will then bear interest at the rate charged under the
<br />such expenses will become a part of the Indebtec
<br />balance of the Note and be apportioned among andl
<br />any applicable insurance poficy; or (2) the rem�i
<br />payable at the Note's maturity. The Deed of Trus
<br />rights and remedies to which Lender may be entitle
<br />WARRANTY; DEFENSE OF TITLE. The following p
<br />;ding is commenced that w uld
<br />eed of Trust or any Related oc
<br />�equired to discharge or pay nde
<br />ed to) take any action tha Le
<br />�sts, encumbrances and oth r cl
<br />•ving the Property. All such exp
<br />Note from the date incurred or F
<br />�ess and, at Lender's optio , w
<br />be payable with any install ent �
<br />ing term of the Note; or (► b�
<br />also will secure payment of the;
<br />I upon Defauit.
<br />�visions relating to ownershi of
<br />t in
<br />be
<br />Title. Trustor warrants that: (a) Trustor hold good and marketable title f rec rd to the Property in fee simple, free and clear of all
<br />iiens and encumbrances other than those set orth in the Real Property de cript on or in any title insurance policy, title report, or final
<br />title opinion issued in favor of, and accepted by, Lender in connection ith t is Deed of Trust, and (b) Trustor has the full right,
<br />power, and authority to execute and deliver th s Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Tru
<br />against the lawful claims of all persons. In he event any action or p
<br />interest of Trustee or Lender u�der this Dee of Trust, Trusior shall i
<br />nominal party in such proceeding, but Lender hall be entitled to particiK
<br />by counsel of Lender's own choice, and Tru tor will deliver, or cause
<br />request from time to time to permit such parti ipation.
<br />Compliance With Laws. Trustor warrants th t the Property and Trust
<br />laws, ordinances, and regulations of govermm �tal authorities.
<br />Survival of Representations and Warranties. All representations, warran
<br />shal! survive the execution and delivery of th s Deed of Trust, shall be c
<br />until such time as Trustor's Indebtedness shal be paid in full.
<br />CONDEMNATION. The following provisions relatin to condemnation proceedi
<br />agreements made by Trustor in this Deed of Trust
<br />in nature, and shall remain in full force and effect
<br />a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemn tion is filed, Trustor shall pr mptl notify Lender in writing, and Trustor shall promptly
<br />take such steps as may be necessary to fend the action and obtai the award. Trustor may be the nomina! party in such
<br />proceeding, but Lender shall be entitled to pa ticipate in the proceeding an to e represented in the proceeding by counsel of its own
<br />choice, and Trustor will deliver or cause to be delivered to Lender suc inst uments and documentation as may be requested by
<br />Lender from time to time to permit such parti ipation.
<br />Application of Net Proceeds. If aU or any pa of the Property is condemn d b eminent domain proceedings or by any proceeding or
<br />purchase in lieu of condemnation, Lender ma at its election require that al or a y portion of the net proceeds of the award be applied
<br />to the Indebtedness or the repair or restoratio of the Property. The net pr cee s of the award shall mean the award after payment of
<br />all reasonabfe costs, expenses, and attorneys fees incurred by Trustee or end r in connection with the condemnation.
<br />tMPOSITION OF TQXES, FEES AND CHARGES GOVERNMENTAL AU7H0 ITIE . The following provisions relating to governmental
<br />taxes, fees and charges are a part of this Deed of rust:
<br />Current Taxes, Fees and Charges. Upon req est by Lender, Trustor shal exe ute such documents in addition to this Deed of Trust
<br />and take whatever other action is requeste by Lender to perfect and onti ue Lender's tien on the Reat Property. Trustor shafl
<br />reimburse Lender for all taxes, as described low, together with all expe ses i curred in recordi�g, perfecting or continuing this Deed
<br />of Trust, including without limitation all taxe , fees, documentary stamps, and ther charges for recording or registering this Deed of
<br />Trust.
<br />Taxes. The following shall constitute taxes t which this section appfies: (1) a specific tax upon this type of Deed of Trust or upon
<br />all or any part of the lndebtedness secure by this Deed of Trust; 12 a pecific tax on Trustor which Trustor is authorized or
<br />required to deduct from payments on the Ind btedness secured by'this ty e of eed 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 s ecifi tax on all or any portion of the Indebtedness or on
<br />payments ot principal and interest made by T ustor.
<br />Subsequent Taxes. If any tax to which this ection applies is enacted s bseq ent 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 a y or all of its available remedies for an Event of Default as
<br />provided below unless Trustor either (1) pa s the tax before it becomes elin ent, or �2) contests the tax as provided above in the
<br />Taxes and Liens seciion and deposits with Le der cash or a sufficient cor orat surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMEN S. The following provisions relat ng to this Deed of Trust as a security agreement are a
<br />part of this Oeed of Trust:
<br />Security Agreement. This instrument shall c
<br />Lender shall have all of ihe rights of a secure
<br />Security tnterest. Upon request by lender, 7
<br />security interest in the Rents and Personal f
<br />may, at any time and without further authoi
<br />Trust as a financing statement. Trustor sF
<br />interest. Upon default, Trustor shall not rem
<br />assemble any Personal Property not affixed
<br />and make it available to Lender within three I
<br />law.
<br />istitute a Security AgreemE
<br />party under the Unitorm C<
<br />�sior sha!! take whatever a�
<br />�perty. In addition to reco
<br />ation from Trustor, file ex�
<br />9 reimburse Lender'for aU
<br />�e, sever or detach the Per:
<br />the Property in a manner
<br />� days after receipt of writt
<br />iateria(ly affect Lender's interest in the Property or if
<br />nents, including but not limited to Trustor's failure to
<br />this Deed of Trust or any Related Documents, Lender
<br />ier deems appropriate, inciuding but not I'rmited to
<br />ms, at any time levied or placed on the Property and
<br />iditures incurred or paid by Lender for such purposes
<br />id by Lender to the date of repayment by Trustor. All
<br />(A) be payable on demand; (B) be added to the
<br />iyments to become due during either (1) the term of
<br />treated as a balloon payment which will be due and
<br />amounts. Such right shall be in addition to all other
<br />Property are a part of this Deed of Trust:
<br />nts and will forever defend the title to the Property
<br />is commenced that questions Trustor's title or the
<br />action at Trustor's expense. Trustor may be the
<br />proceeding and to be represented in the proceeding
<br />ivered, to Lender such instruments as Lender may
<br />of the Property complies with all existing applicable
<br />to he extent any of the Property constitutes fixtures, and
<br />ne cial Code as amended #rom time to time.
<br />n i requested by Lender to perfect and continue Lender's
<br />ig his Deed of Trust in the real property records, Lender
<br />te counterparts, copies or reproductions of this Deed of
<br />pe ses incurred in perfecting or continuing this security
<br />al roperty from the Property. Upon default, Trustor shall
<br />i t a place reasonably convenient to Trustor and Lender
<br />de and from Lender to the extent permitted by applicable
<br />Addresses. The mailing addresses of Trus or (debtor) and Lender (sec red arty) from which information concerning the security
<br />interest granted by this Deed of 7rust may e obtained (each as required by t e Uniform Commercial Code) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions rel ting o further assurances and attorney-in-fact are a part of
<br />this Deed of Trust:
<br />Further Assurances. At any time, and from ime to time, upon request of Lend r, Trustor will make, execute and deliver, or wi(I cause
<br />to be made, executed or delivered, to Lend r or to Lender's designee, nd hen requested by Lender, cause to be filed, recorded,
<br />refiled, or rerecorded, as the case may be, such times and in such offi es a d places as lender may deem appropriate, any and all
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