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06.09.1998 , , . OEEU OF TRUST PtaW a
<br />Loan No 760347 98— GS829 (Continued)
<br />reimburse Truster from the proceeds for the reasonable cost of repair or restoration if Truster is not in default under this Deed of Tn aL Any
<br />proceed✓ which have not been disbursed within 180 days after thaSr receipt and which Lender has not committed tc• the repair or restoration of
<br />the Property shaall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued Interest, and the remalinder, g
<br />any, shall be applied to the principal balance of the Indebtedness. If Lander holds any proceeds after payment in rued of the Indebtedness, such
<br />proceeds shah be paid to Trustor as Truster's interests may appeeir.
<br />Unexpired Insurance at Sale. Any unexpired Insurance shall Inure to the benefit of, and pass to, the purchaser of the Property covered by this,
<br />Deed at Trust at any trustee's sale or other sale held under the provisions of this Deed of Trust. or at any foreclosure saw of such Property.
<br />EXPENDITURES BY LENDER. If Truster teaAs to comply with any provision of Iles Deed of Trust, or N any action or proceeding is commenced that
<br />would material-',y affW. Lender's Interests in the Property. Lender on Trustee's behalf may, but shall not be required to,.take any action that Lender
<br />deems appropriate. Any amount that Lerrft, exlmnds in so doing will bear interest at the rate provided for In the Note from the date Incurred or paid
<br />by Lender to the date of repayment by Truster. As :such expenses, at Lender's option, wig (a) be payable on demand, (b) be added to the balance
<br />of the Note and be appo(tiorre:' among qnd be payable with any Installment payments to become due during either p) the term of any applicable
<br />insurance policy or (ii) thole rema:ning term o' the Not% or (c) be seated as a balloon payment which will be due and payable at the Note's maturity.
<br />This Dees: of Trust also will secure payment of these amounts. The rights provided for in this paragraph shag be In addition to any other rights or any
<br />srerriedies to vrh,rh Lender may be entitled on account of the default. Any such fiction by Lender shag not be cccnsbimcl as curing the default so as to
<br />bar Lender from any remedy that it otherwise would have had.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions mialing to ownership of the Property are a part of this Deed of "trust
<br />Tina. Truytpr warrants that: ',a) Trustor holds good and marketable titre of record to the Property In tee simple, free and clear o', all !lens and
<br />encumbrances other than those set forth In the Real Property description or)n any He Insurance policy, fife report, or final title opinion issued In
<br />favor of, and accepted by, Larder In connection with this Deed of Trust, and (b) Truster has the full tight, power, and authority to execute and
<br />deliver this Deed of Trust to Lender.
<br />Defense of Title. Si bject to the 6=eption In it* paragraph above. Trustor warrants and will forever defend the tilts to the Property against the
<br />lawful claims of all tj sorts. In the event any action or proceeding is commenced that questions Trualor's title or the Interest of Trustee or
<br />Lander under this Dee,i of T ;Last, Truster shall defend the action at Trustor's expanse. Truster may be the nominal party In such proceeding, bull
<br />Lander shall be entitled to participato In the proceeding and to be represented In the proceeding by counsel of Lender's own choice, and
<br />Trustor ,Gill deliver, or imvse to be deNverod. to Lender such instruments as Lender may request from time to time to permit such participatlon.
<br />Compliaice With LaNs. Truster warrants that the Property and Trustor's L-A 01 the Property compiles with all existing applicable laws,
<br />ordinances. and regulations of governmental authorities.
<br />CONDtMNATiON. The following provisions relating to condemnation procoa+dings are a part of this Dead of Trust.
<br />Application of Net Proceeds. If all or any part of the Property Is condemrsad by eminent domain proceedings or by any proceeding u
<br />purchase In lieu of condemnalon, Lender may at Its election require that all or any portion of the net proceeds of the award tx% applied to the
<br />Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonable
<br />costs, experses, and attorneys' fees Incurred by Trustee or Lender In cor notion with the condemnation.
<br />Pr==dIngs. I' any proceeding In condemnation Is filed, Truster shag promptly notity Lender In writing, and Truster shag promptly take such
<br />steps as may be nee-Fs a,—j ;o defend the action and obtain the award. Trustor may be the nominal party in SMn wwc-ereding, but tender shall
<br />be entitled to participate In the proceeding and to be represented In the proceeding by counsel of Its own choice, and Truster wet dellvar or
<br />cat,,�e to be delivered to Lender such instruments as may be requested by it from lime to timer to permit such participation.
<br />IMPOSITIOft 01: TAXES, FEES AND CMARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes,
<br />fevs and charges are a part of this Deers of Trust:
<br />Current Taxes, Feeb -otnd Charges, Upon request by Lender. Truster shag execute such documents in addition to this Deed of Trust and take
<br />whatever other action is requested by Lender to perfect and continue Lender's Lion on tiro Real Property. Trustor shag reimburse Lender for all
<br />taxes, as described below, lt,^ Iher with ag expenses incur In recording, perfecting or continuing this Deem of Trust. Including without
<br />iimilafion aft tares, fees, doeurn -wh -: _tkrr,r,s, and other charges for recording or registering this Deed of Trust,
<br />Taxes- The following shall consfituro tax, -c to which this section applies; (a) a specific tax upon this type of Clued of Trust or upon as or any
<br />part of the Indebtedness secured by this 0%e of Trust; (b) a specific tax on Truster which Truster is authorlxad or required to deduct from
<br />payments on the Indebtedness secured by this W:!, of Deed of Trust; (c) a tax on this type of Deed of Truest chargeable against the Lender or
<br />the holder of the Note; and (d) a specific tax on all M Tiny portion of the Indebtedness or on payments of principal and Interval made by
<br />Trustor.
<br />Subsequent. Taxes, If any tax to which this section applies is er ;.'noted subseguont to the date of this Deed of Trust. INS event shall have the
<br />same affaydt as an Event of Defoutt (as defined below), and Lander n;1V exercise any or all of Its available remedies for an Event of Default as
<br />provided below unless Truster either (a) pays the tare before it becomes drinquent, or (b) contests the tau a3 provided above in the Taxes and
<br />Liens section and deposits with Lander cash or a sufficient corporate surety bond Of other security satisfactory to Lender.
<br />SECURfTY AGREEMENT; FINANCING STATEMENTS. The following provbtons raWling to this Deed of Trust as a aecurtly 09M~ we a par( of
<br />this Deed of Trust.
<br />Security Agreement. ThiS Instrument shaft constituly a security agreement s1 the edtnnt any of the Property constitutes gxture!r or other
<br />personssf property, and Lander si-wr, have an of the rights of a urenured party under the Uniform Commerrial Code as amended from limb to
<br />It no,
<br />Security Interest. Upon request by Lender, Trv*10r shag exed:ute financing statements and take whatevfv other action is n►quesled by Lendrrr
<br />fo perfect and continua Lenders sm-unty mtorest in it:e Beanie and i`ersonai Noperty, In addition to recording this Deed of Trust in the rpaal
<br />property fecords, Lender may, at any time and without fur rh- authortrutron from Truster. file executed counterparts, copies or reproducifnns of
<br />this gored of Trud as a firiancing sWomenl; Trustor shag ruirnbu:te Lander for all expenses trscureed in perfecting or continuing idu spcafrrty
<br />intorost. Upon defafrtt, Trustor shalt assemble the Pwsenaf Property In a manner and at a place reasonably convenient to Truster and Lander
<br />And muka it evailobte In Landon within three (3) days attar receipt of written demand from Lander.
<br />Addresseo. The, malting Addfmsos of 7ruslor (deblor) and Lender ( secured party), from which information concernfnq the tincurity infetW0
<br />granicrd by flu. Dowd of Trust may be o'atainod (etch ee required by Iho Uniform Commrwcral Code), arse as stated on lho fkttt page of this Dead
<br />Cif T I.
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