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DEED OF TRUST � Q�� Q� 9��
<br />(Continued) Page 3
<br />any title insurance policy, tiUe report, or final tiUe opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br />Trust, and (b) Trustor has the full right, 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 tiUe to the Property
<br />against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's UUe or the
<br />interest of Trustee 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 in 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 />Compllance 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 govemmental 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 of Trust, shall be continuing in nature and shall remain in full force and effect until such time as Trustors
<br />Indebtedness is paid in full.
<br />EXISTING INDEBTEDNESS. The following provisions conceming Existing Indebte�lness are a part of this De�d of Trust:
<br />Existing Llen. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to the lien securing payment of
<br />an existing obligation. The existing obligation has a current principal balance of approximately $237,309.00. The obligation has the
<br />following payment terms: $2,050.00 per Month. Trustor expressly covenants and agrees to pay, or see to the payment of, the
<br />Existing Indebtedness and to prevent any default on such indebtedness, any defautt under the instruments evidencing such
<br />indebtedness, or any default under any security documents for such indebtedness.
<br />No Modtfication. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other security
<br />agreement which has priority over this Deed of Trust by which that agreement is modifled, amended, extended, or renewed without
<br />the prior written consent of Lender. Trustor shall neither request nor accept any future advances under any such securiry agreement
<br />without the prior written consent of Lender.
<br />CONOEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Tnast:
<br />Proceedings. If any proceeding in condemnation is filed, T►vstor shall prompUy 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 entiUed to participate in the proceeding and to be represented in the proceeding by counsel of (ts own
<br />choice, and Trustor will 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 />Applicatlon 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 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 attomeys' fees incurred by Trustee or Lender in connection with the condemnation.
<br />IMPOSITION OF TAXES, FEE3 AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to govemmental
<br />taxes, fees and charges are a part of 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 pertect and continue Lender's lien on the Real Properly. Trustor shall
<br />reimburse Lender for all taues, as described below, together with all expenses 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 constitute taxes to which this section applies: (1) a speclfic 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 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 speciflc 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 appiies is enacted subsequent 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 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 AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a securiry 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 consUtutes flxtures, 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. 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 perfectlng 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 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 w�itten 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 conceming 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 flrst
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attomey-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 deliyered, to Lender or to Lender.'s des.ignee, and when: requested by Lender� caus� .to be filed, recorded,
<br />refiled, or 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, security agreements, flnancing statements, continuation statements, instruments of
<br />further assurance, certiflcates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to
<br />effectuate, complete, pertect, 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 on the Property, whether now owned or hereafter
<br />acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender for all costs
<br />and expenses incuRed in connection 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 lrrevocably appoints Lender as Trustor's attomey-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, including without limitation all future advanoes, when due, and othervvise
<br />perForms all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full
<br />reconveyance and shall execute and deliver to Trustor suitable statements of termination of any financfng statement on file evidencing
<br />Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if
<br />permitted by applicable law.
<br />EVENTS OF DEFAULT. At LendePs option, Trustor will be in default under this Deed of Trust if any of the following happen:
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