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DEED OF TRUST � p�.10 5 2 7 9
<br />(Continued) Page 3
<br />maintain Existing Indebtedness in good standing as required below, then Lendar may do so. If any action or proceeding is commenced that
<br />would materially affect Lender's interests in the Property, then Lender on Trustor's behalf may, but ig not required to, take any action that
<br />Lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear
<br />interest at the rate charged under the Note from the date incurred or paid by Lender to the date of rspayment by Trustor. A11 such
<br />expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of
<br />the Note and be apportioned among and be payabie with any installment payments to become due during either (1) the term of any
<br />applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable
<br />at the Note's maturity. The Deed of Trust also will secure payment of these amounts. The rights provided for in this paragraph shall be in
<br />addition to any other rights or any remedies to which Lender may be entitled on acxount of any default. any such action by Lender shall
<br />not be construed as curing the default so as to bar Lender from any remedy that it otherwlse would have had.
<br />WARRANTY; DEFENSE OF 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 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 Real Property description or in the Existing Indebtedness section below or in
<br />any title insurance policy, title report, or final title opinion fssued 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 Qeed of Trust to Lender.
<br />Defense of Title. Subjact to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the event any action or proceeding is commenced that quastions TrustoPs tkle or the
<br />interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the actfon 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 counsei of Lender's own choice, and Trustor wiil deliver, or cause to be delivered, to Lender such instruments as Lender may
<br />request from time to time to permit such participation.
<br />Compltance 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 />Survlval of Promises. All promises, agreemertts, and statements Trustor has made in this Deed of Tn�st shall surviva 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 Borrower's
<br />Indebtedness is paid in full.
<br />EXISTING INDEBTE4NE3S. The following provisions conceming Facisting Indebtedness are a part of this Deed of Trust:
<br />Existing Lien. The lien of this Deed.of Trust securing the Indebtedness may be secondary and inferior to an existing Ilen. 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 default under tha instruments evidencing such indebtedness, or any default under any security documents for such
<br />indebtedness.
<br />No Modiflcatlon. Trustor shall not enter into any agreement with the holder of any moftgage, deed of trust, or other securtty
<br />agresment which has priority over this Deed of Trust by which that agreement is modifed, 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 agreement
<br />without the prior written consent of Lender.
<br />CONDEMNATION. The foliowing 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 wrlting, and Trustor shall promptly
<br />take such sfeps as may be necessary to defend the action and obtain the award. Ttustor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to particfpate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice; and Trustor will defiver or cause to be delivered io Lender such instruments and documentation as may be requested by
<br />Lender from time to time to permit such participation.
<br />Application of Ne4 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 electfon require that all or any portfon 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 shalf inean the award after paymenf of
<br />all reasonable costs, expenses, and attomeys' fees incurred by 7rustee or Lender in connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES 8Y GOVERNMENTAL AUTHORITIES. The following provisions relating to govemmental
<br />taxes, fees and charges are a part of this Daed of Trust:
<br />Cunent Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addidon 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 shaA
<br />reimburse Lender for ali taxes, as descrlbed below, together with all expenses incurred in recording pertecting or continuing this Deed
<br />of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recorcling 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 pa�t of tha lndebtedness sscured 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; (3) a tax on this type of Deed of Tnist
<br />chargeable against the Lender or the hoider 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 su6sequent 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 sufflcient 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 security agreement are a
<br />part of this Deed of Trust`.
<br />Seeurity Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
<br />Lender shali have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
<br />SecuMty 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 exacuted counterparts, copies or reproductlons of this Deed of Trust as.a
<br />financing statement. Trustor shall reimburse Lender for all expenses ineurred in perfecting or continuing this security interest. Upon
<br />default, Trustor shai{ not remove; sever ordetach the Personal Property from tMe Property. Upon default, Trustor shail assemble any
<br />Personaf Property not a�xed to the Property in a manner and at a place reasonabty convenient to Trustor and Lender and make it
<br />available tm 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 securfty
<br />interest granted by this Deed of Tnist may be obtained (each as required by tfie Uniform Commercial Code) are as stated on the first
<br />page of this Deed of Trust,
<br />FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following prouisions relating to further assurances and attorney-in-fact are a part of
<br />this Deed of Trust:
<br />Further Assurances. At any time, and from time to tlme, upon request of Lender, 7rustor will make, execute and deliver, or will cause
<br />to be made, executed or dellvered, to Lender or to LendePs designee, and when requested by Lender, cause to be filed, recorded,
<br />refited, or rerecorded, as tMe case may be, at such times and in such offices and piaces as Lender may deem appropriate, any and ail
<br />such mortgages, deeds of trust, secutity 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 />effectuafe, complete, perfect, continue, or preserve (1) Borrower's and Trustor's obligations under the Note, this Deed of Trust, and
<br />the Related Documents, and (2) the liens and security interests created by thls Deed of Trust as first and prior Ilens on the Property,
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