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Loan No: 113757
<br />DEED OF TRUST 2 0�.10 4 3 9�
<br />(Co tinued)
<br />Page 3
<br />Trustor's Report on Insurance. Upon request of Lander, ho ever not more than once a year, Trustor shall furnish to Lender a report
<br />on each existing policy of insurance showing: (1) the neme of tha insurer; (2) the risks insured; (3) the amount of the policy; (4)
<br />the property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the
<br />expiration date of the policy. Trustor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine
<br />the cash value raplacement cost of the Property.
<br />LENDER'S EXPENDITURES. If any ection or proceeding is com
<br />Trustor fails to comply with any provision of this Deed of Trust
<br />discharge or pay when due eny amounts Trustor is required to di
<br />on Trustor's behalf may (but shell not be obligated to) take
<br />discharging or paying ell taxes, liens, security interests, encumt
<br />paying all costs for insuring, maintaining and preserving the Pro
<br />will then bear interest at the rate charged under the Note from tl
<br />such expenses will become a part of the Indebtedness and, at
<br />balance of the Note and be apportioned among and be payable u
<br />any applicable insuranca policy; or (2) the remaining term of
<br />payable at the Note's maturity. The Deed of Trust also will sec
<br />rights and remedies to which Lender may be entitled upon Defa�
<br />WARRANTY; DEFENSE OF TITLE. The following provisions rela�
<br />nced that would matarially affect Lender's interest in the Property or if
<br />any Related Documents, including but not limited to Trustor's failure to
<br />harge or pay under this Deed of Trust or eny Related Documents, Lender
<br />�y action that Lender deems eppropriate, including but not limited to
<br />nces and other claims, at any time levied or placed on the Property and
<br />�ty. All such expenditures incurred or paid by Lender for such purposes
<br />dete incurred or paid by Lender to the date of repayment by Trustor. Aii
<br />mder's option, will (A) be peyable on demand; (B) be added to the
<br />� any installment payments to become due during either (1) the term of
<br />� Note; or lC) be treated as a bailoon payment which will be due and
<br />3 payment of these amounts. Such right shall be in eddition to all other
<br />to ownarship of the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants that: (a) Trustor holds good and m rketable title of record to the Property in fee simple, free and clear of all
<br />liens and encumbrances other than those set forth in the Re I Property description or in any title insurance policy, title report, or final
<br />title opinion issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and (b) Trustor has the full right,
<br />power, and authority to execute and deliver this Deed of Tru t to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of ali persons. In the event any ction or proceeding is commenced that questions Trustor's title or the
<br />interest of Trustee or Lender under this Deed of Trust, Tr stor shall defend the action at Trustor's expense. Trustor may be the
<br />nominal party in such proceeding, but Lender shail be entitle to participate in the proceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliv r, 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. Trustar warrants that the Prope and Trustor's use of the Praperty compUes with all existing applicable
<br />laws, ordinances, and regulations of governmental authoritie .
<br />Survival of Representations and Warranties. All representa ions, warrantiss, and agreements made by Trustor in this Deed of Trust
<br />shall survive the execution and delivery of this Deed of Tru t, 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 f II.
<br />CONDEMNATION. The following provisions relating to condemna�tion proceedings are a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, T ustor shall promptly notify Lender in writing, and Trustor shall promptly
<br />take such steps as may be necessery to defend the acti n and obtain the award. Trustor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the roceeding and to be represented in the proceeding by counsel of its own
<br />choice, and Trustor will deliver or cause to be delivered t Lender such instruments and documantation as may be requested by
<br />Lander from time to time to permit such participation.
<br />Applicatiorl of Net Proceeds. If all or eny part of the Prope 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 Prope . The net proceeds of the eward shall mean the award after payment of
<br />all reasonable costs, expenses, and at#orneys' fees lncurred y Trustee or Lender in connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNME TAL AUTHORITIES. The following provisions ralating to govarnmentel
<br />taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lende , Trustor shell execute such documents in addition to this Deed of Trust
<br />and take whatever other action is requested by Lender to perfect and cantinua Lender's lien on the Reai 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, docum ntary stamps, end other charges for recording or registering this Deed of
<br />Trust.
<br />Taxes. The following shell constitute taxes to which this s ction applies: (1) a specific tex upon this type of Deed of Trust or upon
<br />all or any part of the Indebtedness secured by this Deed o Trust; (2) a specific tax on Borrower which Borrower is authorized or
<br />required to deduct from payments on the Indebtedness secu ed 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; nd (4) a specific tex on all or eny portion of the Indebtedness or on
<br />payments of principal and interest mede 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, and Lender ay exerclse any or all of its available remedies far an Event of Default as
<br />provided below unless Trustor either (7) pays the tax befo it bacomas delinquent, or 12) contests the tax as provided above in the
<br />Taxes and Liens section and deposits with Lender cash or e ufficient corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The follo ing provisions relating to this Deed of Trust as a security agreement are a
<br />part of this Deed of Trust:
<br />Security Agreemerrt. This instrument shall constitute a Sec
<br />Lender shall have ali of the rights of e secured perty under t
<br />Security Interest. Upon request by Lender, Trustor shall taf
<br />security interest in the Rents and Personal Property. In ac
<br />may, at any time and without further authorization from T
<br />Trust es a financing statement. Trustor shall reimburse
<br />interest. Upon default, Trustor shall not remove, sever or c
<br />assemble any Personal Property not affixed to the Propert�
<br />and make it availeble to Lender within three (31 days efter r
<br />law.
<br />rity Agreement to the extent any of the Property constitutes fixtures, and
<br />e Uniform Commercial Code as amendad from time to time.
<br />� whatever action is requested by Lender to perfect and continue Lender's
<br />ition to recording this Deed of Trust in the real property records, Lender
<br />istor, file executed counterparts, copies or repraductions of this Deed of
<br />3nder for all expenses incurred in perfecting or continuing this security
<br />tach the Personal Property from the Property. Upon default, Trustor shall
<br />in a manner and at a place reasonably convenient to Trustor and Lender
<br />�ei�t of written demand from Lender to the extent permitted by applicable
<br />Addresses. The mailing addresses of Trustor (debtor) an Lender (secured party) from which information concerning the security
<br />interest granted by this Deed of Trust may be obtained (ea h as required by the Uniform Commerciai Code) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following
<br />this Deed of Trust:
<br />Further Assurances. At any time, and from time to time, ul
<br />to be made, executed or delivered, to Lender or to Lande
<br />refiled, or rerecorded, as the case may be, at such times a
<br />such mortgages, deads of trust, security deeds, security e
<br />further assurance, certificates, and other documents as r
<br />effectuate, complete, perfect, continue, or preserve (1) B
<br />the Related Documents, and (2) the liens and security int
<br />whather now owned or hereafter acquired by Trustor. Un
<br />shall reimburse Lender for all costs and expenses incurred i
<br />relating to further assurances and ettorney-in-fect are a part of
<br />m requast of Lender, Trustor will make, execute and deliver, or will cause
<br />s designee, and when requested by Lender, cause to be filed, recorded,
<br />i in such offices and places as Lender mey deem appropriate, any and all
<br />reements, financing statements, continuation statements, instruments of
<br />�y, in the sole opinion of Lender, be necessary or desirable in order to
<br />rrovuer's and Trustor's obligations under the Note, this Deed of Trust, and
<br />•ests created by this Deed of Trust as first and prior liens on the Property,
<br />ss prohibited by law or Lender agrees to the contrary in writing, Trustor
<br />connection with the matters referred to in this peragraph.
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