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201108094
<br /> DEED OF TRUST
<br /> Loan No:0872058385 (Continued) Page 4
<br /> may be the nominal party in such proceeding,but Lender shall be entitled to participate in the proceeding and to be
<br /> represented in the proceeding by counsel�of its own choice, and Trustor will deliver or cause to be delivered to
<br /> Lender such instruments and documentation as may be reques2ed by Lender from time to time to permit such
<br /> participation. .
<br /> Application of Net Proceeds. !f 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 that all or any portion of the
<br /> net proceeds 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 attorneys'fees
<br /> incurred by Trustee or Lender in con�ection with the condemnation.
<br /> IMPOSITION 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 Taxes,Fees and Charges. Upon request by Lender,Trustor shall execute such documents in addition to
<br /> this�eed of Trust and take whatever other a:ction is requested by Lender m perfect and continue Lender's lien on
<br /> the Real Property. Trustor shall reimburse Lender for all taxes, as described below, together with all expenses
<br /> incurred in recording, perfecting or continuing this Deed of Trust, inciuding without limitation all taxes, fees,
<br /> documentary stamps,and other charges for recording or registering this Deed of Trust.
<br /> Taxes. The following shall consYitute taxes to which this seciion applies: (11 a specific tax upon this type of
<br /> Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; f2) a specific tax on
<br /> Borrower which Borrower is authorized or required to deduct from payments on the Indebtedness secured by this
<br /> type of Deed of Trust; I31 a tax on this type of Deed of Trust chargeable against the Lender or the holder of the
<br /> Credit AgreemenY;and i41 a specific tax on alI or any portion of the Indebtedness or on payments of principal and
<br /> interest made by Borrower. .
<br /> Su6sequent Taxess If any tax Yo which this section applies is enactetl subsequent to the date of this Deed of
<br /> Trust, this event shall have the same effect as an Event of Default, and Lender may exercise any or all of its
<br /> available remedies for an Event of Default as provided below unless Trustor either (1) pays the tax before it
<br /> becomes delinquent,or (2) contests the tax as provided above�in the Taxes and Liens section and deposits with
<br /> Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT; FINANCWG STATEMENTS. The following provisions relating to this Deed of Trust as a
<br /> �security agreement are a part of this Deed of Trust:
<br /> Sewrity Agreement This instrument shall constitute a Security Agreement to the eMent any of the Property
<br /> constitutes fiMures,and Lender shall have all of the rights of a secured party under the Uniform Commercial Code
<br /> as amended from time io time:
<br /> Security InSerest. Upon request by Lender,Trusmr shall take whatever action is requested by Lender to perfect
<br /> and coniinue 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 and without further authorization from Trustor, file executed
<br /> counterparts, copies or reproductions of this Deed of Trust as a financing statement. Trustor shall reim6urse
<br /> Lentler for ail expenses incurred in perfecting or continuing this 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 Lendet within three (3) days after receipt of written demand from Lender to the
<br /> exteM permitted by applica6le law. �
<br /> Addresses. The mailing addresses of Trustor (dehtor) and Lender (secured party) from which information
<br /> concerning the security interest granted by this Deed of Trust may be obtained (each as required by the Uniform
<br /> Commercial Codel 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 /> attorney-in-fact are a part of this Deed of Trust:
<br /> Further Assutances. 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 appropriate,arry and all such mortgages,deeds of trust,security deeds,security
<br /> agreements, financing statements, continuation statemen2s, instruments of further 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) Borrower's and Trustor's ob4igations under the Credit Agreement,this Deed of
<br /> Trust,and the Related Documents,and (2) the liens and security interests created by this Deed of Trust on the
<br /> Property;whether now owned or fiereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the
<br /> contrary in writing, Trustor shall reimburse Lender for ali costs and expenses incurred in connection with the
<br /> matters referred to in this paragraph.
<br /> Attomey-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 Trusior's attorney-in-fact for the purpose of making,executing,delivering,filing,recording.,and doing a11
<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 /> FULL PERFORMANCE. If Borrower and Trustor pay�adl the Indebtedness when due,terminates the credit line account,
<br /> and Trustor otherwise performs all the obligations imposed upon Trustor under this Deed of Trust,Lender shall execute
<br /> and deliver to Trustee a request for full reconveyance and shal�l execute and deliver to Trustor suitable statements of
<br /> termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal
<br /> Property. Any reconveyance fee required by law shall be paid by Trustor,if permitted by applica6le law.
<br /> EVENTS OF DEFAULT. Trustor will be in default under this Deed of Trust if any of the following happen: lA) Trustor
<br /> commits fireud or makes a material misrepresentation at any tiime in connection with the Credit Agreement. This can
<br /> include,for example,a false statement about Borrower's or Trustor's income,assets,Iiabilities,or any other aspecis of
<br /> Borrower's or Trustor's financial condition. (B) Borrower does not meet the repayment terms of the Credit Agreement.
<br /> (C) Trustor's action or inaction adversely affects the collateral or Lender's rights in the collateral. This can include,for
<br /> exampte,failure to maintain required insurance,waste or desttuctive use of the dwelling,failure to pay taxes,death of
<br /> all persons liable on the account, transfier of title or sale of the dwelling, creation of a senior li.en on the dwelling
<br /> without Lender's permission,foredosure by the holder of another lien,or the use ofi funds or the dweliing for prohibited
<br /> purposes.
<br /> RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust,at any time thereafter,.
<br /> Trustee or Lender may exercise any one or more of the following rights and remedies:
<br /> Acceleravon Upon Default;Additional Remedies. If any Event of Default occurs as per the terms of the Credit
<br /> Agreement secured hereby,Lender may declare all Indebiedness secured by this Deed of Trust to be due and
<br /> payabie and the same shall thereupon 6ecome due and payable witFiout any presentment,demand,protest or
<br /> notice of any kind. Thereafter,Lender may:
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