OR OTHER PAPER AND TAKE ANY OTHER
ACTION (INCLUDING, WITHOUT LIMITATION, ANY FILINGS OF FINANCING OR CONTINUATION
STATEMENTS UNDER THE UCC OR THE UNIFORM COMMERCIAL CODE OF THE STATES OF
DELAWARE AND NEVADA) THAT FROM TIME TO TIME MAY BE NECESSARY OR DESIRABLE, OR
THAT BENEFICIARY MAY REQUEST, IN ORDER TO CREATE, PRESERVE, PERFECT, CONFIRM OR
VALIDATE THE SECURITY INTERESTS OR TO ENABLE BENEFICIARY TO OBTAIN THE FULL
BENEFIT OF THIS SECURITY INSTRUMENT OR TO EXERCISE AND ENFORCE
ANY OF ITS
RIGHTS, POWERS AND REMEDIES CREATED HEREUNDER OR UNDER APPLICABLE LAW WITH
RESPECT TO ANY OF THE COLLATERAL.
TO THE EXTENT PERMITTED BY APPLICABLE LAW,
TRUSTOR HEREBY AUTHORIZES BENEFICIARY TO FILE, IN THE NAME OF TRUSTOR OR
OTHERWISE AND WITHOUT THE SIGNATURE OR OTHER SEPARATE AUTHORIZATION OR
AUTHENTICATION OF TRUSTOR APPEARING THEREON, SUCH FINANCING STATEMENTS OR
CONTINUATION STATEMENTS AS BENEFICIARY IN ITS SOLE DISCRETION MAY DEEM NECESSARY
OR APPROPRIATE TO PERFECT OR MAINTAIN THE PERFECTION OF THE SECURITY INTERESTS.
TRUSTOR AGREES THAT A CARBON, PHOTOGRAPHIC, PHOTOSTATIC OR OTHER REPRODUCTION OF
THIS SECURITY INSTRUMENT IS SUFFICIENT AS A FINANCING STATEMENT.
TRUSTOR ALSO
AGREES THAT ANY FINANCING STATEMENTS OR CONTINUATION STATEMENTS MAY DESCRIBE THE
COLLATERAL AS "ALL ASSETS" OR "ALL PERSONAL PROPERTY" OR WORDS TO SIMILAR EFFECT
AND WHICH MAY BE FILED IN NEVADA, DELAWARE OR OTHER JURISDICTIONS AS BENEFICIARY
IN ITS SOLE DISCRETION MAY DEEM NECESSARY OR APPROPRIATE TO PERFECT OR MAINTAIN
THE PERFECTION OF THE SECURITY INTERESTS.
TRUSTOR SHALL PAY THE COSTS OF, OR
INCIDENTAL TO, ANY RECORDING OR FILING OF ANY SUCH FINANCING OR CONTINUATION
STATEMENTS.
SECTION 5.3.
CHANGES IN TAX, DEBT, CREDIT AND DOCUMENTARY STAMP
LAWS.
(A)
IF ANY LAW IS ENACTED OR ADOPTED OR AMENDED AFTER THE DATE OF THIS
SECURITY INSTRUMENT WHICH DEDUCTS THE DEBT FROM THE VALUE OF THE PROPERTY FOR
THE PURPOSE OF REAL ESTATE TAXATION OR WHICH IMPOSES A
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tax, either directly or indirectly, on the Debt or Beneficiary's interest in the
Property in substitute for real property taxation, Trustor will pay the tax,
with interest and penalties thereon, if any.
If Beneficiary is advised by
competent counsel chosen by it that the payment of tax by Trustor would be
unlawful or taxable to Beneficiary or unenforceable or provide the basis for a
defense of usury then Beneficiary shall have the option by written notice of not
less than 120 days to declare the Debt immediately due and payable.
(B)
TRUSTOR WILL NOT CLAIM OR DEMAND OR BE ENTITLED TO ANY CREDIT OR
CREDITS ON ACCOUNT OF THE DEBT FOR ANY PART OF THE TAXES OR OTHER CHARGES
ASSESSED AGAINST THE PROPERTY, OR ANY PART THEREOF, AND NO DEDUCTION SHALL
OTHERWISE BE MADE OR CLAIMED FROM THE ASSESSED VALUE OF THE PROPERTY, OR ANY
PART THEREOF, FOR REAL ESTATE TAX PURPOSES BY REASON OF THIS SECURITY INSTRUMENT
OR THE DEBT.
IF SUCH CLAIM, CREDIT OR DEDUCTION SHALL BE REQUIRED BY LAW,
BENEFICIARY SHALL HAVE THE OPTION, BY WRITTEN NOTICE OF NOT LESS THAN 120 DAYS,
TO DECLARE THE DEBT IMMEDIATELY DUE