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<br />, DEED OF TRUST 2 0�.10 3�. � 7
<br />Loan No: 10123991 � `"" ` c •� (Continued) Page 4
<br />Title. Trustor werrants that: (a) Trustor holds good and marketable title of record to the Propern/ in fee simple, free snd clear of all
<br />liens and encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or in
<br />any title insuranca policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of
<br />Trust, and (b) Trustor has the fult right, power, and authority to execute and deliver this Deed of Trust to Lender,
<br />Defense of 7itle. Subject to the exception in the paragreph above, Trustor warrants and will forever defend the title to the Property
<br />ageinst the lawful claims of ell persons. In the event any action or proceedtng is commenced that questions Trustor's tftle 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 />Compliance 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 Representatlons and Warranties. All representations, warranties, and agreements made by Trustor in this Deed of Trust
<br />shall surviva the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect
<br />until such time as Borrower's Indebtedness shall be paid In full.
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />Existing Lien. The lien of this Deed of Trust securing the Indebtedness mey 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 on such
<br />indebtedness, any defeult under the instruments evtdencing such (ndebtedness, or any defeult 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 other security
<br />agreement which has priority over this Deed 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 egreement
<br />without the prior written consent of Lender.
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />Proceedings. If eny proceeding In condemnation is filed, Trustor shall promptly notify Lender in writing, and 7rustor shall promptly
<br />take such steps as may be necessary to detend the action and obtain the award. Trustor may be the nominal party in such
<br />proceeding, but Lender shall be entitted to participate in the proceeding and to be represented in the proceeding by counsel of its 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 paRtcipation.
<br />Application of Net Proceeds. If all or any part of the Property is condam�ed 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 awerd shall mean the awerd after payment of
<br />all reasonable costs, expenses, end attorneys' fees incurred by Trustee ar Lender in connection with the condemnetion.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmenta!
<br />taxes, fees and charges are a part of this Deed of Trust:
<br />Current Texes, 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 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 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 Borrower which Borrower is authorized or
<br />required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; 13) a tax on this type of Deed of Trust
<br />chargeable ageinst 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 Borrower.
<br />Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shall
<br />have the same effect as an Event of Default, end Lender mey exercise any or all of its available remedies for an Event ofi Default as
<br />provided below unless Trustor either (1) pays the tex before it becomes dellnquent, 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 STATEMEN7S. The following provisions relating to this Deed of Trust as a security agreement are a
<br />part of thls Deed of Trust:
<br />Security Agreement. This instrument shall constitute e Security Agreement to the extent any of Yhe Property constitutes fixtures, and
<br />Lender shell 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 tnterest in the Rents and Personel Property. In addition to recording this Deed of Trust in the real property records, Lender
<br />may, at any time and without further euthorization from Trustor, file executed counterparts, copies or reproductions of this Deed of
<br />Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this security
<br />interest. Upon default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shell
<br />assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to 7rustor and Lender
<br />and make it avaiteble to Lender within three (3) days efter receipt of written demand from Lender to the extent permitted by applicable
<br />law.
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