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11-05-2001 DEED OF TRUST Page 4 (Continued) Insured,the then current replacement value of such property,and the manner of determining that value; and (e)the expiration dale of the policy. Trustor shall, upon request of Lender, have an Independent appraiser satisfactory to Lender determine the cash value replacement cost of the Property. EXPENDITURES BY LENDER. If Trustor fails to comply with any provision of this Deed of Trust,or If any action or proceeding Is commenced that __..would-materially-affect-Lenders..lnteresls-In-the-Property,L.ender-on Truslor's behalf-may,—but-shall-not-be-requlred-lo—fake-any-action-that-Lender I deems appropriate. Any ,mount that Lender expends In so doing wlll beer Interest at the rate provided for In the Note from the data Incurred or paid by Lender to the date of repayment by Trustor. All such expenses,at Lender's option,will (a)be payable on demand, (b)be added to the balance of the Note and be apportioned among and be payable with any Installment payments to become due during either 00 the term of any Wopllcable Insurance policy or (11)the remaining term of the Note, or (c)be treated as a balloon payment which will be due and payable at the Note's maturity. This Deed of Trust also will secure payment of these amounts. The rights provided for In this paragraph shall be In addition to any other rights or any remedles to which Lender may be entitled on account of the default. Any such action by Lender shall not be construed as curing the default so as to bar Lender from any remedy That It otherwise would have had. WARRANTY;DEFENSE OF TITLE. The following provislons relating to ownership of the Properly are a pad of this Deed of Trust. Title. Trustor warrants that: (a)Trustor holds good and marketable title of record to the Property In fee simple,tree and clear of all(lens and encumbrances other than those set forth in the Real Property description or In any title Insurance policy,title report,or final title opinion Issued In favor of,.and amepted by,Lender in connection with this Deed of Trust, and (b)Trustor has the full right,power,and authority to execute and deliver this Deed of Trust to Lender. Defense of Title. Subject to the exception In the paragraph above,Truslor warrants and will forever defend the title to the Property against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the Interest of Trustee or Lender under this Deed of Trust,Trustor shall defend the action at Trustors expense. Trustor may be the nominal party In such proceeding, but Lender shall be entitled to participate In the proceeding and to be represented In the proceeding by counsel of Lender's own choice,and Truslor will deliver,or cause to be delivered,to Lender such Instruments as Lender may request from time to time to permit such participation. Compliance With Laws. Truslor warrants that the Property and Truster's use of the Property compiles with all existing applicable laws, ordinances,and regulations of governmental authorities. CONDEMNATION. The following provisions relating to eminent domain and Inverse condemnation proceedings are a pad of this Deed of Trust. - Application of Net Proceeds. If any award is made or settlement entered Into In any condemnation proceedings affecting all or any part of the Properly or by any proceeding or purchase In lieu of condemnation,Lender may at Its election,and to the extent permitted by law,require that all or any portion of the award or settlement be applied to the Indebtedness and to the repayment of all reasonable costs,expenses,and attorneys'fees Incurred by Trustee or Lender In connection with the condemnation proceedings. i Proceedings. If any eminent domain or Inverse condemnatlon proceeding Is commenced affecting the Property,Trustor shall promptly notify Lender In writing, and Trustor shall promptly lake such steps as may be necessary to pursue or defend the action and obtain the award. Trustor may be the nominal party in any such proceeding,but Lender shall be entitled,at its election,to participate In the proceeding and to be represented In the proceeding by counsel of its own choice, and Truslor will deliver or cause to be delivered to Lender such Instruments as may be requested by It from time to time to permit such participation. IMPOSITION OF TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES.The following provisions relating to governmental taxes, lees and charges are a part of this Deed of Trust: - Current Taxes,Fees and Charges. Upon request by Lender,Truslor shall execute such documents in addition to this Deed of Trust and take whatever other action is requested by Lander to perfect and continue Lender's lien on the Real Property. Trustor shall reimburse Lender for all lazes, as described below, together with all expenses Incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes,fees,documentary stamps,and other charges for recording or registering[his Deed of Trust. Taxes. The following shall constitute taxes to which this section applies: (a)a specific tax upon this type of Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (b)a specific tax on Truslor which Truslor Is aulhodzed or required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (c)a lax on this type of Deed of Trust chargeable against the Lender or the holder of the Note;and (d)a specific lax on all or any portion of the Indebtedness or on payments of principal and interest made by Trustor. Subsequent Taxes. If any tax to which this section applies Is enacted subsequent to the date of this Dead of Trust, this event shall he"the same effect as an Event of DefaUit(as defined below),and Lender may exercise any or all of Its available remedies for an Event of Default as provided below unless Truslor either (a) pays the lax before it becomes delinquent,or (b)centesis the lax as provided above In the Taxes and Liens section and deposits with Lender cash of a sufficient corporate surely bond or other security satisfactory to Lender. SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a pad of this Deed of Trust. Security.Agreement. This Instrument shall constitute a security agreement to the extent any of the Property constitutes fixtures or other personal property, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time. Security Interest. Upon request by Lender,Trustor shall execute financing statements and take whatever other action Is requested by Lender _ to perfect and continue Lender's security Interest In the Rents and Personal Property. Trustor shall reimburse Lender for all expenses incurred In perfecting or continuing this security Interest. Upon default, Trustor shall assemble the Personal Properly In a manner and at a place reasonably convenient to Truslor and Lender and make II available to Lender within three(3)days after receipt of written demand from Lender. Addresses. The malling addresses of Truslor(debtor) and Lender (secured party), from which Information concerning the security Interest granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code), are as slated on the first page of this Deed of Trust, FURTHER ASSURANCES; ATTORNEY—IN—FACT. The following provisions relating to further assurances and atlomey—in—fact are a pad of this Deed of Trust. Further Assurances. At any time, and from lime to time, upon request of Lender,Truslor will make, execute and deliver, or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or