|
201106770
<br />proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net proceeds of
<br />the award shall mean the award after payment of all reasonable costs, expenses, and attorneys' fees incurred by Trustee
<br />or Lender in connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to
<br />governmental taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this
<br />Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real
<br />Property. Trustor shall reimburse Lender for all taxes, as described below, together with all expenses incurred in
<br />recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees, documentary stamps,
<br />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
<br />Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Trustor which
<br />Trustor is authorized or required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3)
<br />a tax on this type of Deed of Trust chargeable against the Lender or the holder of the Note; and (4) a specific tax on all
<br />or any portion of the Indebtedness or on 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
<br />event shall have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for
<br />an Event of Default as provided below unless Trustor either (1) pays the tax before it becomes delinquent, or (2)
<br />contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate
<br />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
<br />agreement are a part of this Deed of Trust:
<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes
<br />fixtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from
<br />time to time.
<br />Security Interest. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect and
<br />continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the
<br />real property records, Lender may, at any time and without further authorization from Trustor, file executed counterparts,
<br />copies or reproductions of this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses
<br />incurred in perfecting or continuing this security interest. Upon default, Trustor shall not remove, sever or detach the
<br />Personal Property from the Property. Upon default, Trustor shall assemble any Personal Property not affixed to the
<br />Property in a manner and at a place reasonably convenient to Trustor and Lender and make it available to Lender within
<br />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 concerning
<br />the security interest granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code)
<br />are as stated on the first page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY -IN -FACT. The following provisions relating to further assurances and attorney -in-
<br />fact are a part of this Deed of Trust:
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, execute and deliver,
<br />or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender,
<br />cause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and in such offices and places as
<br />Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security agreements,
<br />financing statements, continuation statements, instruments of further assurance, certificates, and other documents as
<br />may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or
<br />preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2) the liens
<br />and security interests created by this Deed of Trust as first and prior liens on the Property, whether now owned or
<br />hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall
<br />reimburse Lender for all costs and expenses incurred in 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
<br />and in the name of Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints Lender as
<br />Trustor's attorney -in -fact for the purpose of making, executing, delivering, filing, recording, and doing all other things as
<br />may be necessary or desirable, in Lender's sole opinion, to accomplish the matters referred to in the preceding
<br />paragraph.
<br />FULL PERFORMANCE. If Trustor pays all the Indebtedness when due, and otherwise performs all the obligations imposed
<br />upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall
<br />execute and deliver to Trustor suitable statements of termination of any financing statement on file evidencing Lender's
<br />interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Trustor, if permitted
<br />by applicable law.
<br />EVENTS OF DEFAULT. An Event of Default under the Credit Agreement shall, at Lender's option, constitute an Event of
<br />Default under this Deed of Trust:
<br />RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust and Trustor has not cured
<br />such default with any applicable cure period, if any, at any time thereafter, Trustee or Lender may exercise any one or more of
<br />the following rights and remedies:
<br />
|