|
. DEED OF TRUST
<br />Loan No: 101245669 (Continued) � o �� a ���� Page 5
<br />Lender such instruments and documentation as may be requested by Lender from time to time to permit such
<br />participation.
<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by
<br />any proceeding or purchase in lieu of condemnation, Lender may at its election require thai all or any portion of the
<br />net procaeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net
<br />proceeds of the award shall mean the award after payment of all reasonable costs, expenses, and aftorneys' fees
<br />incurred by Trustee or Lender in conneciion with the condemnation.
<br />IMPO&ITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating
<br />to governmental taxes, fees and charges are a part of this Deed of Trust:
<br />Current Taues, Fee9 and Charges. Upon request by Lender, Trustor shall execute such documents in addition to
<br />this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien on
<br />the Real Property. Trustor shell reimburse Lender for all taxes, as described below, together with all expenses
<br />incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees,
<br />documentary stamps, and other charges for recording or registering this Deed of Trust.
<br />Taxes. The fottowing shall constitute taxes to which this section applies: (1) a specific tax upon thls type of
<br />Deed of Trust or upon all or any part of the Indebtedness secu,red by this Deed of Trust; (2) a specific tax on
<br />Trustor which Trustor is authorized or required to deduct from payments on the Indebtedness secured by this type
<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 principal and interest made by
<br />Trustor.
<br />Subsequent Taues. If any tax to which this section applies is enacted subsequent to the date of this Deed of
<br />Trust, ihis event shall have the same effect as an Evant of Default, and Lender may exercise any or all of its
<br />available remedies for an Event of Default es providad below unless Trustor either (1) pays the tax before it
<br />becomes definquent, or (21 contests the tax as provided above in the Taxes and Liens section and deposits with
<br />Lender cash or a sufficient corporete surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STA7EMENTS. The following provisions relating to this Deed of Trust as a
<br />security 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
<br />constitutes fixtures, and Lender shall have a!! of the rights ot a secured party under the Unitorm Commercial Code
<br />as amended from tima to time.
<br />Security Irrterest. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect
<br />and continue Lender's security interest in the Rents and Personal Property. (n addition to recording this Deed of
<br />Trust in the real properiy records, Lender may, at any time and without further authorization from Trustor, file
<br />executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. 7rustor shall
<br />reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon default, Trustor
<br />shall not remove, sever or detech the Personal Property from the Property. Upon default, Trustor shall assemble
<br />any Personal Property not affixed to the Property in e manner and at a place reasonabiy convenient to Trustor and
<br />Lender and make it available to Lender within three (3) days after receipt of written demand trom Lender to the
<br />extent permitted by applicable law.
<br />Addresses. 7he mailing addresses of Trustor (debtor) and Lender (secured party) from which information
<br />concerning the security interest granted by this Deed of 7rust may be obtained (each as required by the Uniform
<br />Commercial Code) are as stated on Yhe first page ot this Deed of Trust.
<br />FURTHER QSSURANCES; A770RNEY-IN-FACT. The following provisions relating to further assurances and
<br />attorney-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 will 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, cause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and in such offices
<br />and places as Lender may deem eppropriate, any and all such mortgages, deeds of trust, security deeds, security
<br />agreements, financing statements, continuatian statements, instruments of turther assurance, certificates, 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 (7) Trustor's obligations under the Note, this Deed of Trust, and the Related
<br />Documents, and (2) the liens end 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 paragraph.
<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 and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints
<br />Lender as Trustor`s attorney-in-fact for the purpose of making, executing, delivering, filing, recording, and doing all
<br />other things as may be necessary or desirable, in Lender's sole opinion, to accomplish the matters referred to in
<br />the preceding paragraph.
<br />
|