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201200929
<br /> " DEED OF TRUST
<br /> Loan No: 872058431 (COntinUed) Page 3
<br /> in eny way by any act,omission or default of Trustor or any other person. Should fhe Real Property be located in
<br /> an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area,
<br /> Trustor agrees to obtain and maintain Federal Flood Insurance,ifi available,for the maximum amount of Trustor's
<br /> credit li�ne and the full unpaid principal balance of any prior liens on the property securing the loan, up Yo the
<br /> maximum policy limits set under the National Flood I�surance Program,or as otherwise required by Lender,and to
<br /> maintain such insurance fior the term of the loan.
<br /> Application of Proceeds. Trustor shall promptly notiiy Lender of any loss or damage to the Property. Lender may
<br /> make proof of loss if Trustor fails to do so within fifteen 115) days of the casuafty. Whether or not Lender's
<br /> security is impaired,Lender may,at Lender's election,receive and retain the proceeds of any insurance and apply
<br /> the proceeds to the reduction of the Indebtedness,payment of any lien affecting the Property, or the restoration
<br /> and repair of the Property. If Lender elects to apply the proceeds to restoration and repair,Trustor shall repatr or
<br /> replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br /> satisfactory proof of such expenditure, pay or reimburse Trustor fYom the probeeds for the reasonable cost of
<br /> repair or rasmra'tiort if Trustor is not in default under this Deed of Trust. Any proceeds which have not been
<br /> disbursed within 180 days after their_receipt and which Lender has not commitfed to the repair or restoration of
<br /> the P�operty shall be used first to pay any amount owing to Lender under this Daed of Ttust,then to pay accrued
<br /> interest, and the remainder,if any,shall be applied to the principai balance of the Indebtedne5s, If Lender holds
<br /> any peoceeds after payment in full of the Inde6tedness, such proceeds shall be paid to Trustof as Trustor's
<br /> interests may appear.
<br /> � Compliance with Existeng Indebtedness. During the period in which any Existing Indebtedness described below is
<br /> in e#fect, compliance with the insurance provisions corrtained in the instrument evidencing such Existing
<br /> Indebtedness shall constitute compiiance with the insurance provisions under this Deed of Trust, to the extent
<br /> compliance wfth the terms of this Deed of Trust would constitute a duplication of insurance requirement. If any
<br /> proceeds from the insurance become payable on loss,the provisions in this Deed of Trust for division of proceeds
<br /> shall apply only to that portion of the proceeds not payable to the holder ofi 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 other claims, (B) to provide any required insurance on the Properry, (C) to make repairs to the
<br /> Property or to comply with any obligation to maintain Existing Inde6tedness in good standing as required below,then
<br /> Lender may do so. If any action or proceeding is commenced that would materiaUy affect Lender's interests in the
<br /> Property, then Lender on Trustor's behalfi may, but is not required to, take any action.that Lender believes to be
<br /> appropriate to protect LendePs interests. .All expenses incurred or paid by Lender for such purposes will then bear�
<br /> interest at the rate charged under the Credit Agreement from the date incurred or paid hy Lender to the date of
<br /> repayment by Trustor. All such expenses will become a part of the Indebtedness znd,at Lender`s option,will (A) be
<br /> . payable on demand; {g) 6e added to the balance of the Credit AgreemenY and be apportioned among and be payable
<br /> - with any installment payments to become due during either I1} the term of any applicable insurance policy;or (2) the
<br /> . remaining term of the Credit Agreement;or (C) be treated as a balloon payment which will be due�and payable at the
<br /> Credit AgreemenYs maturity. The Deed of Trust also will secure payment of these amounts. The rights provided for in
<br /> this paragraph shall be in addition to any other rights or any remedies to which Lender may be entitled on account of
<br /> any default. Any such action by Lender shall not be construed as curing the default so as to bar Lender from any
<br /> remedy that it otherwise would have had.
<br /> WARRFl.NTY;DEFENSE QF TITLE. The foilowing provisions relating to ownership of the Property are a part of this Deed
<br /> of Trust
<br /> Title. Trustor warrants that: (a)Trustor liolds good and marketable title of record to�the Property in fee simple,
<br /> free and clear of all liens and encumbrances other than those set forth in the Real Property description or in the
<br /> Existing Indebtedness section below or in any title insurance policy,title report,or final title opinion issued in favor
<br /> of,and accepted 6y,Lender in connection with this Deed of Trust,and (6)Trustor has the full right,power,and
<br /> authority to execute and deliver this Deed of Trust to Lender.
<br /> � Defense of Title. Subject to the exception in the paragraph above,Trustor warrants and will forever defend the
<br /> title to the Property against the lawful clai.ms of all persons. In�the event any action or proceeding is commenced
<br /> that questions Trustor's tiUe or the interest of Trustee or Lender�under ihis Deed of Trust,Trustor shall defend the
<br /> action at Trustor's expense. Trustor may be the nominal party in such proceeding,but Lender shall be errtitled to
<br /> participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, 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 Properry and Trustor's use of the Property complies with aIl
<br /> � existing applicable laws,ordinances,and regulations of governmental authorities.
<br /> Survival of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall
<br /> survive tlte execution�and delivery of this Deed of Trust,shall 6e continuing in nature artd shall remain i�fuil force
<br /> and effect until such time as Trustor's Indebtedness is paid in full.
<br /> EXISTING INDEBTEDNESS. The following provisions concetning Fxisting Indebtedness are a part of Yhis Deed of TrusY:
<br /> Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferi�or to an
<br /> existing lien. Trustor expressly covenants and agrees to pay,or see to the payment of,the 6cisting 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 Modfication. Trustor shall not enter into any agreement with the holder of any mortgage, 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 wiihout the prior written consent of Lender. Trustor shali 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 take 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 entitled to participate in the proceeding and to be
<br /> represented in the proceeding by counsel of its own choice,and Trustor wi0 deliver or cause to be delivered to
<br /> Lender such instruments and documentation 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 6y eminent domain proceedings or by
<br /> any proceeding or purchase in lieu of condemnation,Lender may aY its election require that all or any portion of the
<br /> net proceeds of the award be applied to the Inde6tedness or the repair or restoraTion of ths Property. The net
<br /> proceeds of the award shall mean the award after payment of all reasonable costs,expenses,and attomeys'fees
<br /> incurred by Trustee or Lender in connection with the condemnation.
<br /> IMPOSITION OF TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating
<br /> to governmental raxes,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
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