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Loan No: 101253466
<br />, k •.,.
<br />DEED OF TRUST 2 012 0 4 7 7�
<br />(Continued)
<br />Page 4
<br />eny proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Trustor es Trustor's
<br />interests may appear.
<br />Compliance with ExisUng Indebtedness. During the period in which any Existing Indebtedness described below is
<br />in effect, compliance with the insurance provfaions contained in the instrument evidencing such Existing
<br />Indebtedness shall const(tute compliance with the inaurance provisions under this Deed of Trust, to the extent
<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 peyable on loss, the provislons 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 />T►ustor's Report on Insurance. Upon request of Lender, however not more then once e year, Trustor shall furnish
<br />to Lender a report on each existing policy of insurence showing: (1) the name of the insurer; (2) the risks
<br />insured; (3) the amount of the policy; (4) the property insured, the then current replacement value of such
<br />property, and the menner of determining thet value; and (5) the explration dete of the policy. Trustor shall, upon
<br />request of Lender, heve an independent appreiser setisfactory to Lender determine the cesh value replacement cost
<br />of the Property.
<br />LENDER'S EXPENDITURES. If any ection or proceeding is commenced that would meterielly effect Lender's interest in
<br />the Property or if Trustor fails to comply with eny provision of this Deed af Trust or eny Related Documents, including
<br />but not limited to Trustor's feilure to comply with any obligetion to meintain Existing Indebtedness in good stending es
<br />required below, or to discharge or pay when due any emounts Trustor is required to discharge or pay under this Deed of
<br />Trust or eny Related Documents, Lender on Trustor's behalf may (but shall not be obligated to) take any action that
<br />Lender deems appropriate, including but not limited to discharging or peying ell taxes, liens, securlty interests,
<br />encumbrences and other claims, at any time levied or placed on the Properry and peying all costs for insuring,
<br />meintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then
<br />bear interest at the rate charged under the Note from the date incurred or peid by Lender to the date of repayment by
<br />Trustor. AII such expensea will become e part of the Indebtedness and, st Lender's option, will (A) be payeble on
<br />demand; (B} be added to the belence of the Note and be apportioned among and be payable with any installment
<br />peyments to become due during either (1) the term of any applicable insurance policy; or (2) the remeining term of
<br />the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's meturity. The Deed of
<br />Trust also wilt secure peyment of these amounts. Such right shell be in addition to ell other rights end remedies to
<br />which Lender may be entitled upon Default.
<br />WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are e part of this Deed
<br />of Trust:
<br />Title. Trustor warrants that: (a) Trustor holds good and merketable title of record to the Property in fee simple,
<br />free and clear of all liena and encumbrances other than those set forth in the Real Property description or in the
<br />Existing Indebtedness section below or in any title insurence 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 hes the full right, power, end
<br />authority to execute and deliver this Deed of Trust to Lender.
<br />Defense of Title. Subject to the exceptlon in the peregraph above, Trustor werrents end will forever defend the
<br />title to the Property againat the lawful claims of all persons. In the event any ection 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 et Trustor's expense. Trustor may be the nominal parry in such proceeding, but Lender shell be entitled to
<br />participete 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 Lew9. Trustor warrants that the Property and Trustor's use of the Property complies with all
<br />existing applicable laws, ordinances, and regulations of governmental euthorities.
<br />Survival of Representetions and Warrarrties. Atl representations, warranties, and egreements made by Trustor in
<br />this Deed of Trust shell survive the execution and delivery of this Deed of Trust, shail be continuing in nature, and
<br />shell remain in full force and effect untll such time es Trustor's Indebtedness shall be peid in full.
<br />EXISTING INDEBTEDNESS. The following provisions concerning F�cisting 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 en
<br />existing lien. Trustor expressly covenents end egrees to pay, or see to the peyment of, the Existing Indebtedness
<br />and to prevent any defeult on such indebtedness, any default under the instruments evidencing such indebtedness,
<br />or any default under any security documents for such fndebtedness.
<br />No Modification. 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 />emended, 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 pert 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 mey be necessary to defend the ection and obtain the award. Trustor
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