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<br />,, � DEED OF TRUST �p�.�U4523
<br />(Continued) Page 3
<br />of these amounts. Such right shall be in addition to all other rights and remedies to which Lander may be entitled upon Default.
<br />WARRANTY; DEFENSE QF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br />Title. Trustor warrants that: (a) Trustor holds good and marketable tiUe of record to the Property in fee simple, free and clear of all liens and
<br />encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final title opinion
<br />issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and (b} Trustor has the full right, power, and authority to
<br />execute and deliver this Deed of 7rust to Lender.
<br />Defense af Tltle. Subjec! to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property against
<br />the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the interest of Trustee or
<br />Lender under this Deed of Trust, Trustor shaff defend the action at Trustor's expense. Trustor may tre the nominal party in such proceeding,
<br />but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, and
<br />Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such
<br />participation.
<br />Compliance With Laws. Trustor warrants that tt�e Prvperty and Trustor's use ot the Properiy complies with all existing applicable laws,
<br />ordinances, and regulations of govemmental authorities.
<br />Survivat of Representations and Warranties. All representations, warranties, and agreements made by Trustor in this Deed of Trust shall
<br />survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and sha(1 remain in full force and effect until such time
<br />as Trustor's Indebtedness shall be paid in tull.
<br />CONDEMNATION. The fo!lowing provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall promptly take such
<br />steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party in such proceeding, but Lender
<br />shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of iis own choice, and Trustor will
<br />deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit
<br />such participation.
<br />Application 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 e(eciion require that all or any portion of the net proceeris of the award be applied to the
<br />Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all
<br />reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation.
<br />IMPbSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The fotfowing provisions relating to governmental taxes,
<br />fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lander, Trustor shall execute such documents in addition to this Deed of Trust and
<br />take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall reimburse Lender
<br />for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Desd ot Trust, including
<br />without limitation all taxes, tees, documentary stamps, and other charges for recording or registering this Deed of 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 all or any
<br />part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Trustor which Trustor is authorized or required to deduct from
<br />payments on the Indebtedness secured by this type of Deed of Trust; (3j a tax on this rype of beed of Trust chargeabie against the Lender
<br />or the holder of the Note; and (4) a spec'rfic tax on all or any portion of the Indebtedness or on payments of principal and interest made by
<br />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 have the
<br />same effect as an Event of Default, and Lender may exercise any or all of its availabJe remedies for an Event of Default as provided below
<br />unless Trustor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens
<br />section and deposits with Lender cash or a sufficient corporate surety trond or other security satisfactory to Lender.
<br />SECURI7Y AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part
<br />of this Deed of Trust:
<br />Security Agreemertt. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and Lender
<br />shall have all of the rights of a secured party under the Un'rform 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 Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at
<br />any 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 perfecting or continuing this security interest. Upon defau(t,
<br />7rustor shall not remove, sever or defach fhe Personal Property from the Property. Upon default, Trustor shall assemble any Personal
<br />Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor and Lender and make it available to Lender
<br />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 interest
<br />granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code) are as stated on the first page of this
<br />Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this
<br />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 to be
<br />made, executed or delivered, to Lender or to Lender's designee, and when requested by L.ender, cause to be filed, recorded, refiled, or
<br />rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all such mortgages,
<br />deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance,
<br />certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, pertect,
<br />continue, or preserve (i) Trustor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2) the liens and
<br />security interests created by this Deed of Trust as first and prior liens on #he Proparty, whather now owned or hereafter acquired by Trustor.
<br />Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender for all costs and expenses incurred in
<br />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 nama of
<br />Trustor and at Trustor's expense. For such purposes, 7rustor hereby irrevocably appoints Lender as Trustor's attorney-in-fact for the
<br />purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sofe
<br />opinion, to accomplish the matters referred to in the preceding paragraph.
<br />FULL PERFORMANCE. If Trustor pays aif the Indebtedness, including without limitation all future advances, when due, and otherwise performs
<br />all ihe obligaiions imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and
<br />shail execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the
<br />Rents and the Personaf Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted by applicable law.
<br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
<br />Payment Defautt. Trustor fails to make any payment when due under the lndebtedness.
<br />Qther Defaults. Trustor tails to comply with or to parform any oiher term, obligation, covenant or condition contained in this Deed of Trust or
<br />in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other
<br />agreement between Lender and Trustor.
<br />Compliance Default. Failure to comply with any ofher term, obligation, covenant or condition contained in this Deed of Trust, the Note or in
<br />any of ihe Related Documents.
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