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� 201200919
<br /> DEED OF TRUST
<br /> Loan No: 10000758 (Continued) Page 3
<br /> replace the damaged or destroyed Improvements in a manner satisfactory io Lender. Lender shall, upon
<br /> satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for Yhe reasonable cost of
<br /> repair or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which have not been
<br /> dis6ursed within 180 days after thei�r receipt and which Lender has not committed to the repair or restoration of
<br /> the Property shall be used first to pay any amount owing to Lender under this Deed of Trust,then to pay accrued
<br /> interest, and the remainder, if any,shall be applied to the principal balance of the Indebtedness. If Lender holds
<br /> any proceeds after payment in full of the Inde6tedness, such proceeds shall be pai�d to Trustor as TrustoPs
<br /> interests may appear.
<br /> Compliance with Existiog Indeb4edness. During the period in which any Existing Indebtedness described below is
<br /> in effect, compliance with the insurance provisions contained in the instrument evfdencing such 6cisting
<br /> Indebtedness shail constitute compliance with the insurance provisions uoder this Deed of Trust, to the exteM
<br /> compliance with the terms of this Deed of Trust would constitute a duplication of insurence requirement. If any
<br /> proceeds from the insurance become paya6le on loss,the provisions in this Deed of Trust for division of proceeds
<br /> shall apply onty to that portion of the proceeds not payable to the holder of the Existing Indebtedness. .
<br /> LENDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of all taxes,. liens,. security interests,
<br /> encumbrances,and oiher claims, lB) to provide any required insurance on the Property, (C) to make repairs to the
<br /> . Property or to comply with any obligation to maintain Existing fndebtedness in good standing as required below,then
<br /> Lender may do so. tf any action or proceeding is commenced that would materially affect Lender's interests in the
<br /> � Property, 2hen Lender on Trustor's behalf may, but is not required to, take any action that Lender believes to be
<br /> appropriate to protect Lender's interests. All expenses incurred or paid by Lender Por such purposes will then bear
<br /> interest at the rate charged under the Note from the date incurred or paid 'oy Lender to the date of repaymen± 6y
<br /> Trusior. All such expenses will become a part of The Indebtedness and, at Lenders option, will (A) be payable on
<br /> demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment
<br /> payments to become due during either (1) the term of any applicabfe insurance policy;or (2) the remaining term of
<br /> the Note;or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of
<br /> Trust also will secure payment of these amounts. The rights provided for in this paragraph shall be in addition to any
<br /> other rights or any remedies to which Lender may be entitled on account of any default. Any such action by Lender
<br /> Shall not be construed as curing the defauit so as to bar Lender from any remedy thaY it otherwise would have had.
<br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership��of the Property are a part of this Deed
<br /> of Trust:
<br /> Title. Trustor warrants that (a)Trustor holds good and marketable title of record to the Property in fee simple,
<br /> free and clear of ail liens and encumbrances other than those set forth in the Real Property description or fn the�
<br /> Existing Indebtedness section below or in any title insurance policy,tifle reporY,or final title opinion issued irt favor
<br /> of,and accepted by,Lender in connection with this Deed of Trust,and (b)Trustor has the full right,power,and
<br /> authoriry to execute and deliver this Deed of Trust to Lender.
<br /> Defense of Title. Subject to the exception irt The paragraph above,Trustor warrants a�d will forever defend the
<br /> title to the Property against the lawful claims of ail persons. In the event any action or proceeding is commenced
<br /> that questions Trustor's title or the interest of Trustee or Lender under this Deed of Trust,Trustor shall defend the
<br /> action at Trustor's expense. Trustor may be the nominal party in such proceeding,but Lendar shall be entitled Yo
<br /> participate in tl�e proceeding and to be represented i�the proceeding by counsel of Lender's own choiee, and
<br /> Trustor will deliver,or cause to be delivered,to Lender such instruments as Lender may request from time to time
<br /> to permit such participation. .
<br /> � Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with aIl
<br /> existing applicable laws,ordinances,and regulations of governmental authorities.
<br /> Survival of Promises. Aii promises, agreements, and statements Trustor has made in this Deed of Trust shall
<br /> survive the execution and delivery of this Deed of Trust,shall 6e continuing in natute and shall rernain in full force
<br /> . and effect until such time as Trustor's Indebtedness is paid in full.
<br /> EX�STWG INDE6TEDNESS. The following provisions co�cerning 6cisting Indebtedness are a part of this Deed of Trust:
<br /> Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an
<br /> existing lien. Trustor expressly covenants and agrees to pay,or see to the payment of,the Existing Indebtedness
<br /> and to prevent any default on such indebtedness,any default under the instruments evidencing such indebtedness,
<br /> or any default under any security documents for such indebtedness. �
<br /> No Modification. Tr�smr shall not enier into any agreement with the holder.of any mo�rtgage, deed of trust,or
<br /> other security agreement which has priority over this Deed of Trust by which that agreement is modified,
<br /> amended, extended, or renewed without the prior written consent of Lender. Trustor shall neither request nor
<br /> accept any future advances under any such security agreement without the prior written consent of Lender.,
<br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
<br /> Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and
<br /> � Trustor shall promptly ta�ke such steps as may be necessary to defend the action and obtain the award. Trustor
<br /> may be the nominal party in such proceeding,but Lender shall be entitted 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 docu.mentation 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 6y
<br /> any proceeding or purchase in lieu of condemnation,Lender may at its elecfion require that all o�any portion ofi the�
<br /> net proceeds of the award Lie applied to the Indeb#edness or the repair or restorarion of the Property. The net
<br /> proceeds of the award shali mean the award after payment of all reasonable costs,expenses,and attorneVS'fees
<br /> incurred by Trustee or Lender in connection with the.condemnation. . ,
<br /> IMPOSITION OP TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relaYing
<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 Deed of Trust and take whatever other action is�requested by Lender to perfect and wntinue Lender's lien on
<br /> the Real Property. Trustor shall reimburse Lender for all taxes, as described below, together wiYh all expenses
<br /> incurred in eecording, perfecting or continuing this Deed of Trust, induding without limitation all taxes, fees,
<br /> documentary stamps,and other charges for recording or registering this Deed of Trust.
<br /> Ta�ces. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of
<br /> � Deed of Trust or upon ali or any part of the Inde6tedness secured by this Deed of Trust; (2) a specific tax on
<br /> Trustor which Trustor is autMorized 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 orthe holder of the Note;
<br /> . and (4) a specific tax on all or any portion of ihe Indebtedness or on payments of principal and interest made by
<br /> Trustor.
<br /> Subsequent Taxes. If any tax to which this section applies is enacted sutisequent to the date of this Deed of
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