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<br />DEED OF TRUST 2 012 0 4 7 4�
<br />Loan No: 101252125 (Continued) Page 4
<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 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, end other cleims, (B) to provide any required insurance on the Property, (C) to make repelrs to the
<br />Property or to comply with any obligation to maintain Existing Indebtedness in good standing as required below, then
<br />Lender may do so. If any action or proceeding is commenced that would materielly affect Lender's interests in the
<br />Property, then 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 for such purposes will then bear
<br />interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by
<br />Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be peyable on
<br />demand; (B) be added to the balance of the Note and be epportioned among and be payeble with eny instellment
<br />payments to become due during either (1) the term of any applicable insurance policy; or 12) 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 />shell not be construed as curing the default so as to bar Lender from any remedy thet it otherwise would have hed.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property ere a pert of this Deed
<br />of Trust: °
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<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 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 by, Lender in connection with this Deed of Trust, and (b) 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 peragraph above, Trustor werrents and will forever defend the
<br />title to the Property egainst the lawful claims of all persons. In the event any ectian or proceeding is commenced
<br />thet 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 Lender shell be entitled to
<br />participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, end
<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 all
<br />existing applicable laws, ordinances, and regulations of governmental authorities.
<br />Survival of Promises. All promises, agreements, and statements Trustor hes made in this Deed of Trust shall
<br />survive the execution and deflvery of this Deed of Trust, shall be continufng in neture end shall remain in full force
<br />end effect until such time as Trustor's Indebtedness is paid in full.
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing 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 peyment of, the Existing Indebtedness
<br />and to prevent any default on such indebtedness, any defeult under the instruments evidencing such indebtedness,
<br />or any default under any security documents for such indebtedness.
<br />No Modincation. Trustor shall not enter into any agreement with the holder of eny 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 without the prior written cansent 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 />CORIL�EMNATlO�l. The following provisions relafang to conderranation proceedings are a part of fihi� Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shell promptly notify Lender in writing, and
<br />Trustor shall promptly take such steps as may be necessary to defend the ection 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 will 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 by eminent domain proceedings or by
<br />any proceeding or purchase in lieu of condemnation, Lender may at its election require that all or any portion of the
<br />net proceeds of the award be applied to the Indebtedness or the repair or restoretion of the Property. The net
<br />proceeds of the award shall mean the award after peyment of all reasoneble costs, expenses, and attorneys' 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 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 teke whatever other action is requested by Lender to perfect and continue Lender's lien on
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