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<br />DEED OF TRUST
<br />(Continued)
<br />Page 3
<br />any title insurance policy, title 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 />D�fense of Title. Subject to the exception in the paragraph above, Trustor waRants and wiff forever defend the tiUe to the Property
<br />against the lawful claims of all persons. In the evenY any action or proceeding is commenced that questions Trusto�'s tiUe or the
<br />interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the acUon at Trustor's expense. Trustor may be the
<br />nominal party in such proceeding, buf Lender shal( be entitled to participate in the proceeding and to be represented in the proceeding
<br />by counse! 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 Properiy comp(fes with ail 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 Trustor's
<br />Indebtedness is paid in full.
<br />EXISTING INDEBTEDNESS. The_following provisions conceming Ex�st�,rg Indebtedness are a part of this Deed of T►ust:
<br />Exlsting Lten. The fien of this Deed of Trust securing the Indebtedness may be secondary and inferior to the Ilen securing payment of
<br />an existing obligation. The existing obligation has a current principal balance of approximately $102,823.00. The obligation has the
<br />following payment terms: $588.00 per Month. Trustor expressly covenants and agrees to pay, or see to the payment of, ttte Existing
<br />Indebtedness and to prevent any default on such indebtedness, any default under the instruments evidencing such indebtedness, or
<br />any default under any security documents for such indebtedness.
<br />No Modiflcation. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other securtty
<br />agreement which has prtority over this Deed of Trust by which that agreement is modified, amended, extended, or renewed without
<br />the prior wrltten consent of Lender. Trustor shall neither request nor accept any future advances under any such security agreement
<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 any proceeding in condemnation is fifed, Trustor shafl 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 nominal parly in such
<br />proceeding, but Lender shall be entiUed to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and Trustor will defNer or cause to be delivered to Lender such instruments and documentation as may be requested by
<br />Lender from time to tlme to permit such_participation. ,
<br />Appllcation 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 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 govemmentai
<br />taxes, fees and charges are a part of this Deed of 7rust:
<br />Current Taxes, Fees and Charges, Upon request by Lender, Trustor shal! 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 Property. Trustor shall
<br />reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, pertecting or contlnuing this Deed
<br />of Trust, including without limitation a!I ta�ces, fees, documentary s�amps, and other charges for recording or registering this Deed of
<br />Trust. . y
<br />Taxes. The following shall constitute tanes to which this section applies: (1) a speciflc 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 Tnistor which Trustor fs 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 specific tax on all or any port(on of the Indebtedness or on
<br />payments of principal and interest made by Trustor.
<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 �vent 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 />Taues and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br />SECURlTY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a secuHty 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 constitutes flxtures, and
<br />Lender shall have all of the rights of a secured pa►ty 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 (nterest 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 thls Deed of Trust as a
<br />flnancing statement. Trustor shall reimburse Lender for all expenses incurred in pertecting 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 written 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 obtafned (each as required by the Uniform Commercial Code) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER ASSUI2ANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attomey-in-fact are a part of
<br />this Deed of Trrist: ` � �. _' _ - •
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Trustor wilt make, execute and deliver, or wilFpuse
<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 />reflled, or rerecorded, as the case may be, at such times and in such o�ces 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, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to
<br />effectuate, complete, pertect, conUnue, or preserve (1) Tnastor's obligations under the Note, this Deed of Trust, and the Related
<br />Documents, and (2) the liens and security interests created by this Daed 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 incurred in connection with the matters referred to in this paragraph.
<br />Attomey-in-Fact If Trustor fails to do any of the th(ngs referred to in the preceding paragraph, Lender may do so for and in the name
<br />of Trustar and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints Lender as Trustor's attomey-in-fact for
<br />the purpose of making, executing, delive�ing, filing, recording, and dqing all other things as may be necessary or dasirable, in Lender's
<br />sole opinion, to accompfish the matters referred to in the preceding paragraph.
<br />FULL PERFORMANCE. If Trustor pays all the Indebtedness, including without limitation aU future advances, when due, and otherwise
<br />pertorms all the obligations imposed upon Trustoc 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 suRable statemenfs of termination of any financing statement on file evidencing
<br />Lender's security interest in the Rents and the Personal Properly. Any reconveyance fee required by law shall ba paid by Trustor, if
<br />permitted by applicable law,
<br />EVENTS OF DEFAULT. At Lender's opUon, Trustor will be in default under this Deed of Trust if any of the following happen:
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