Laserfiche WebLink
DEED OF TRUST 2 0��. 0 6 9 9� <br />Loan No:,101244577 (Continuedj Page 5 <br />of Deed of Trust; (3) a tex on this type of Deed of Trust chargeable against the Lender or the holder of the Note; <br />and (4) a specific tax on all or any portion of the Indebtedness or on payments of pr(ncipaf and interest made by <br />Trustor. <br />Subsequent Taxes. It any tax to which this section applies is enacted subsequent to the date of this Deed of <br />Trust, this event shall have the same effect as en Event of Default, and Lender may exercise any or all of its <br />available remedies for an Event of Default es provided be(ow un(ess Trustor either (i) pays the tax betora it <br />becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens section end deposits with <br />Lender cash or a sufficient corporate surety bond or other security satlsfactory to Lender. <br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust es a <br />security agreement are a part of this Deed of Trust: <br />Securtiy Agreement. This instrument shatt constitute a Security Agreement to the extent any of the Property <br />constitutes fiu[ures, and Lender shall have all of the rights of e secured party under the Uniform Commercial Code <br />es amended from time to time. <br />Security Interest. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect <br />and continue Lender's security interest in the Personal Property. In addition to recording this Deed of Trust in the <br />real property records, Lender may, at any time end without further authorization from Trustor, file executed <br />counterparts, copies or reproductions of this Deed of Trust as a financing statement. Trustor shall reimburse <br />Lender for all expenses incurred in perfecting or continuing thls security interest. Upon default, Trustor shall not <br />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 <br />Lender and make it available to Lender within three (3) days after receipt of written demand from Lender to the <br />extent permitted by applicable law. <br />Addresses. The mailing addresses of Trustor (dabtor) and Lender (secured party) from which information <br />concerning the security interest granted by this Deed of Trust mey be obtained (each as required by the Uniform <br />Commercial Code) 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 <br />ettorney-in-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 witt make, execute and <br />deliver, or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by <br />Lender, ceuse to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and in such offices <br />end places as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security <br />agreements, flnancing statements, continuation stetements, instruments of further assurance, certificetes, and <br />other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, <br />perfect, continue, or preserve (1) Trustor's obligations under the Note, this Desd of Trust, and the Related <br />Documents, end (2) the liens and security interests created by this Deed of Trust as first and prior liens on the <br />Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the <br />contrary in writing, Trustor shall reimburse Lender for all costs and expenses incurred in connection with the <br />matters referred to in this paregraph. <br />Attorney-in-Fact. If Trustor fails to do any of the things referred to in the preceding paragraph, Lender may do so <br />for and in the name of Trustor end at Trustor's expense. For sucF� purposes, Trustor hereby irrevocably appoints <br />Lender as Trustor's attorney-in-fact for the purpose of making, executing, delivering, ffling, recording, and doing all <br />other things as may be necessary or desirable, in Lender's sole opinion, to accomplish the matters referrad to in <br />the preceding paragraph. <br />FULL PERFORMANCE. If Trustor pays all the Indebtedness when due, end otherwise performs all the obligations <br />imposed upon Trustor 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 suitable statements of termination of any financing stetement on <br />file evidencing Lender's security interest in the Rents and the Personal Property. Arty reconveyance fee required by law <br />shall be paid by 7rustor, if permitted by appliceble law. <br />DEFAULT. At Lender's option, Trustor will be in defeult under this Deed of Trust if any of the following happen: <br />Freud or Materlal Misrepresentation. Trustor commits fraud or material misrepresentetion in connection with the <br />terms of the Note, <br />Payment Defauit. Trustor fails to meet the repayment terms of the Note for any outstanding balance. <br />Other Defaults. Trustor's act or failure to ect adversely affects Lender's security interest in the Property, or any <br />right of Lender's in such security. <br />Right to Cura. If any default, other than a default in payment is curable and if Trustor has not been given a notice <br />of e breach of the same provision of this Deed of Trust within the preceding twelve (121 months, it may be cured if <br />Trustor, aftar Lender sends written notice to Trustor demanding cure ot such detault: (7 ) cures the defeult within <br />ten (10) days; or (2) if the cure requires more than ten (10) days, immediately initiates steps which Lender deems <br />in Lender's sole discretion to be sufficient to cure the default and thereafter continues end completes aff reasonable <br />end necessary steps sufficient to produce compliance as soon as reasonably prectical. <br />