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_ 201208579
<br /> DEED OF TRUST
<br /> Loan No: 872058807 (Contellued) Page 3
<br /> Fn any way by any act, omission or default of Trustor or any other person. Should the Real Proper[y be located in
<br /> an area designated by the Director ofi the Federal Emergency Management�Agency as'a speciaf flood hazard area,
<br /> Trustor agrees to obtain and maintain Federal Flood Insurance, if available, for the maximum amount of Trustor's
<br /> credit line and the fu0 Lnpaid principal balance of any prior liens on the property securing the loan; up to the
<br /> maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to
<br /> maintain such insurance for the term of the loan.
<br /> Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may
<br /> make proof of loss if Trustor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's
<br /> security is impaired; Lender may, at Lender's election, receive and retain the proceeds ofi 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. ff Lender elects to apply the proceeds to restoration and repair,Trustor,shall repair or
<br /> replace the damaged or destroyed ImprovemeMs in a manner satisfactory to Lender. Lender shall, upon
<br /> satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonabie cost of
<br /> repair or restoration if Trustor is not in default under this Deed of T�ust. Any proc�eds which have not been
<br /> disbursed within 1 80 days after their�receipt and which Lender has not�committed to the� repair or restoration of
<br /> the Propeny 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 fiull of the Indebtedness, such��proceeds�shall be paid�to Trustor as Trustor's
<br /> interests may appear. �� � �� � �
<br /> Compliance with Existing Indebtedness. During the period in which any Existing Indebtedness described below is
<br /> in effect, compliance with the �insurance �provisions� contained in the instrument evidencing such Existing
<br /> Indebtedness shall constitute compliance with the insurance provisions under this Deed ofi Trust,. to the extent �
<br /> compliance with the terms of this Deed of Trust would constitute a duplication of insurance requirement. If any
<br /> proceeds from the insurance become payabie on loss, the proyisions in this Deed of Trvst for division of proceeds
<br /> shall apply only to that partion of the proceeds not payable to the holder of the Existing Indebtedness: . �
<br /> LENDER'S EXPENDITURES. If Trusto�r fails (A) to keep the Property free of all taxes, liens, security �interests,
<br /> encumbrences, and other claims, (B) 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 Indebtedness in good standing as.required below, then
<br /> Lender may do so. If any action or proceeding is commenced that would materially affect Lender's interests in the
<br /> Property, then Lender on Trustor's behalf may, but is not required to, take any action ahat 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 Credit�Agreement firom the date incurred or paid by Lender to� the date� of
<br /> tepayment by Trustor. All such expenses will become a part of the'Indebtedness and, at Lender's option,will (A) be
<br /> payable on demand; (B) be added to the balance of the Credit Agreement and-be�apportioned among�and be payable
<br /> with any�instaliment payments to become due duri�ng eiiher (7) the term of any applicable insurence policy; or (2) the
<br /> remaining term of the Credit Agreemeni; or (C) be treated as a balloon payment which wili 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 i.n
<br /> this paregraph 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 consirued as curing the defauR so�as io bar Lender from any
<br /> remedy that it otherwise would have had.
<br /> WARRANTY; DEFENSE OF TITLE. The fiollowing provisions relating to ownership of the Property are a part ofi this Deed
<br /> ofi Trust: . � . .
<br /> Title_ Trustor warrants that: (a) Trustor holds good and marketable title of record�to the Property��in fee�simple,
<br /> free and dear 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 /> ofi, and accepted by, Lender in connection with this Deed of Trust, and �(b) Trustor has the full righY; power, and
<br /> autnority to execute and deliver tnis 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 claims ofi all persons. In the event any action or proceeding is commenced
<br /> that.questions Trustor's title or the interest ofi Trustee or Lender under tFiis Deed��of Trust,Ttustor shall defend the
<br /> action at Trustor s expense. Trustor may�be the nominal party in such proceeding�, but Lender sliall be entitled 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 requesY from time to time
<br /> to permit such participation. . �
<br /> Compliance With�Laws_ Trustot warrants that tFie Property and Trustor's.use of tne Property complies with all
<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 the execution and delivery of this Deed of Trust, shall be continuing in nature and shall remain in full force
<br /> and effect until such time as Trustor's Indebtedness is paid in fulL
<br /> EXISTING INDEBTEDNESS. The fiollowing provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br /> Existing Lien_ The lien ofi this Deed of Trust securing the Indebtedness may be se�ondary and infierior to an
<br /> existing lien. Trustor expressly covenants and agrees to pay, or see'to the payment of,�the F�cisting Indebtedness
<br /> and to prevent any default on such indebtedness, any default under the instruments evidencing sueh indebtedness,
<br /> or any default under any security documents for such indebtedness.
<br /> No Modification. Trustor shall not enier into any agreement witn the holder of any rmortgage, deed ofi trust, or
<br /> other security ag�eement which has priority over thi5 Deed�of�Ttust�by wnich tnat agreement is modifiied,
<br /> amended, extended, or renewed withaut�Yhe prior written�'consenY of Lender. Trustor shall neither request nor
<br /> accept any future advances undet any such securiiy agreement without the prior wrfttea consent of Lender.
<br /> CONDEMNATION_ The following provisions relating to condernnat�on��proceedings are a part of this��.Deed of Trust:
<br /> Proceedings_ If any proceeding in condemnation is filed,� Trustor shall promptly notiiy Lender in writing, and
<br /> Trustor shall prornptly 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 on 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 condem-ned by emi�nent domain proceedi.ngs or by
<br /> any proceeding or purchase in lieu of condemnation, Lender may at its election require that all or any portion ofi the
<br /> net proceeds of the award be applied to the Indebiedness or the repair or restoratiorv�of the Property. The net
<br /> proceeds of the award shall mean the award after payment of all reasonable costs, expenses,. and attorneys' fees
<br /> incurred by Trus'tee 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,fiees 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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