Laserfiche WebLink
201108760 <br />DEED OF TRUST <br />Loan No: 101245912 (COntinUed) Page 5 <br />Taxes. The following shall constitute taxes to which this section applies: (1) a speciflc tax upon this type of <br />Deed of Trust or upon all or any part of the Indebtedness secured 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 tax on this type of Deed of Trust chargeable against the Lender or the holder of the Note; <br />and (4) a speciflc tax on all or any portion of the Indebtedness or on payments of principal and interest made by <br />Trustor. <br />Subsequent Taxes. If any tax to which this section appUes is enaded subsequerrt to the date of this Deed of <br />Trust, this event shall have the seme effect as an Everrt of Default, and Lender rr�y exerdse arry or all of its <br />available remedies for an Event of DeYault as provided below unless Trustor either (1) pays the tax before it <br />beoomes delinquerrt, or (2) contest,s the tax as provided above in the Taxes and Ueru section and deposits with <br />Lender qsh or a sufticient corporate surety bond or other security sat(sfactory to Lertder. <br />SECURIT1f AGREEMENT; FINANCING STATEMENTS. The following provisions relatlng to this Deed of Trust as a <br />secuhty agreement are a part of this Deed of Trust: <br />Security Agreem�nt This instrument shall constitute a Secu�iry Agreement to the extent any of the Property <br />constltutes flxtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code <br />as 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 Rents and Personal Property. In addiUon to recording this Deed of <br />Trust in the real property records, Lender may, at any time and without further authorization from Trustor, flle <br />executed counterparts, copfes or reproductlons of this D�d of Trust as a financing statement. Trustor shall <br />reimburse Lender for all expenses incurred in pe�fecting or continufng this security interest. Upon default, Trustor <br />shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble <br />any 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 mafling addresses of Trustor (debtor) and Lender (secured party) from which information <br />conceming the security interest granted by this Deed of Trust may 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; A7TORNEY-IN-FACT. The following provisions relaUng to further assurances and <br />attomey-fn-fact are a part of this Deed of Trust: <br />Further Assurances. At arry Urrre, and from tlme to Ume, upon request of Lender, Trustor will make, execute and <br />delNer, or will cause to be made, executed or delivered, to LerxJer or to Lender's designee, and when requested by <br />Ler�er, ca� to be flled, �ecorded, reflled, or rereoorded, as the c�se may be, at such Umes and in such offl� <br />and plaoes as L�der may deem appropriate, any and ail sudi mortgages, deeds of trust, secx�rity deeds, secx�rity <br />agreemerrts, flnandng statemerrts, corrtinuatlon statements, instrumeMs of further assuranoe, certiflcates, and <br />other documerrts as may, in the sole opinion of Lender, be neoessary or desirable in order to effectuate, complete, <br />perfed, corrtinue, or preserve (1) TrustoPs obligadons �mder the Note, this Deed of Trust, and the Related <br />Documerrts, and (2) the liens and sea�rity interests created by this Deed of Trust as first and prior Ilens on the <br />Properiy, whether now owned or hereafter soquired by Tn�stor. Unless prohibfted by law or Lender agrees to the <br />contrary in writing, Trustor shall reimb�use Lender for all oosts and expense.s incurred in connecUon with the <br />matters ref'erred to in this paragraph. <br />Attom�y-in-Fa�k. If Trustor fails to do any of the things referred to in the preceding paragraph, Lender rrmy do � <br />for and in the name of Trustor and at Trustor's experue. For such purposes, Trustor hereby irrevocabiy appoirrts <br />Lender � Trustor's attomey-In-fact for the purpose of rrraking, execuuting, delive�ing, filing, reoording, ar�d doing all <br />other things � may be neoessary or desireble, in Lenders sole opinion, to acx�mplish the matters referred to in <br />the preceding paragraph. <br />FULL PERFORMANCE. If Trustor pays all the Indebtedness, induding without limitation all future advanc�s, when due, <br />and othervvise performs all the obligations Imposed upon Tnastor under this Deed of Trust, Lender shall execute and <br />deliver to Trustee a requast for full r�orneyanc�e and shall execute and deliver to Trustor suitable statemeMs of <br />terminatfon of any flnancing statemerrt on flle evldendng Lender's security interest in the Rerits and the Persornal <br />Properly. Any reoonveyance f� requfred by law shall be �id by Trustor, if permitted by applicable law. <br />EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed <br />of Trust: <br />Payment Default Trustor fails to make any payment when due under the Indebtedness. <br />Other Defaults. Trustor fails to comply with or to pertorm any other term, obligation, covenant or condition <br />contained in this Deed of Trust or in any of the Related Documents or to comply with or to perform any term, <br />obl(gation, covenant or condition contained in any other agreement between Lender and Trustor. <br />Compliance Default. Failure to comply with any other term, obligatfon, covenant or conditlon contained in this <br />Deed of Trust, the Note or in any of the Related Documents. <br />Default on Other Payments. Failure of Trustor within the tfine required by this Deed of Trust to make any payment <br />