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<br /> • �O-Ot-1998 DEED OF TRUST Pege 3
<br /> . � Loan No 804284 (CoMinued) g�� 1� �
<br /> . �
<br /> to pay.so tonp as Landor's interest In the PropeAy fs no!taopnrdlzed. If p Itun erisos a ts filed aa a res�t of nonOaYmenl,Trustor ehaU wlthin
<br /> 8fteon(16)daye after lhe Uen erisos or.If a Uen Is(iled,wi{hln 8fteen(1b)dAyB aKar Trustor has nollee otihe filnp,seoure the discfmrqo af Ihe
<br /> • Ilen,or t}requb�ted by Lendcr,depos�t with tendor cash or a suHlaient oorporc�to suroty bond or other secudty satisfactory to Lend6r in an
<br /> ' ampunt suHlclgnt to dlscharpe the Ilen plus any oosts and attomeys'tees ar other charges thnt couid acaue as a resWt ot q torectosure or salB
<br /> under the uen.In any contest,Trustor shall detend ItseN and Londer and shall sa8sy any advarae Judpment betore entorcement Qyainst the
<br /> �' Propsrly.T�uslot 3hni1 nnma Looder es nn ndditlonat obllgee under any suroty bond furnlshed In the contast proceedings.
<br /> �' Evtdence of Prymmit. Trusta shatl upon demand furnish to Londer sadsfactory evidence al payment of the faxes or essassmenb and 6hall .
<br /> authodui Ihe appropdate govetnrtrental oNlciet to dellver to Lendar at any tlmv a wdtten stetomont of Ihe taxes 8nd assessments¢pninst the
<br /> • _,;.� Property. ,n:
<br /> �Y�".. .-�� Notk��f Condruetion. Trustor shall notity Lendor at teast flfteen(tb)days before any work b commenced,any services are(urnk�h�d,a any 1"
<br /> �;t materiats ere�upplbd to the Properly.ff any meohanfo's Iien,materiatmen's Iten,or other Uen coutd be asserted on aaount o!ttw work,
<br /> -. � serNoes.a meteriai�. Trustor wUi upon request of Lender fumish to Lender advance assurences saUsfadory to Lende►that Trustor ean and wIU �x,'.
<br /> . pay tha cost afe�ch improvements. _--
<br /> •. PROPERTY OARHAfsE INSUAANCE. The toltowing yrovislons reluH�g fo Insudng the Properly are a part ot tNS Resd ot Trust. -_-
<br /> t M�IntenanCe ot inWrance. Trustor shait prooure and matntain pol�tes of flre insu�with standard eztendsd coverege endorsements on a �:wti.
<br /> replacement buls ta ttie full Insurabte veiue covering all Impmvementa on the Reat Roperfy In an arnount sut�fent to avotd applladon o!any �___
<br /> . colnsurance douse,and wlth e standard mortpegee ciause in fAVOr of Lender. Trusta shatl elso proaure and mat�afn comprehensivs yeneral R
<br /> ?, �� IfabiAt�r insuranoe in such coverage amounts as Lsrtdar may roquest with trustee artd Lendet boinp narr�ed as edditlanal insurods tn such Uab(Iity __
<br /> j. insurance poUdes. Additlonally.Trustor shpD matntafrt such othe►insurance,indudtnp but not Umited to hamrd,busine;s interruption,and -�_--
<br /> � bdNr insurarrce,as Leader may teesoneby r$q4iro. Rottdes sheA be wdtten in form,amaunb.coveragas end trasis reasonabiy acoepffibt�to -_
<br /> Lender and Essued by a company a compctnlfls r�isonpbty axepfeb�e to Lender. Tnutor.upon requ�t o!Lendet,will deliver to Lendar hom -
<br /> time to time the pdides or cerUNcates ot t�umnai In tortn saHStactory fo Lender,indud(rtg sUpuladons Yiat toverages wIU not De c�r�eiled or
<br /> �•� ' diminished without at tesst ten.(10)days'prtor wdtton noi5ce to Lender. Euch Insurance paiky aiso shall NctuQe an endorsement provt�ng that _-
<br /> . c ov e r e p e in favor of Lencl�r wiD pM be im pafred In an y we�b y an y ect,omisslo�a default o!Trustor a an y oMer p e r s on. ShoWd the Fta21 -�=_ _
<br /> , � Property at am flme becam8 loaated in an area designated by the Otrector of the Federal Emergency Management Agency as e spectal flood $�;,�;
<br /> �, harard aroa,Tn�sta agrees to obtein and malr�in Federat Flot�Insurance tor the tutl unpaid prindpai Eel��e of the loan,up to the maxtmum --
<br /> pdiey lim(ts&�under the Natlonat Flood Inaura.nce Rrog�[um,w as otherwts9 required by Lender.and to maintein such insurar�ce tor the term of P�_
<br /> the loan. -
<br /> . •�� �• ApplleaRion of Fnoeeede.Trustor shatl prommity noYit�r Le�dor of any Ioss or d�msge to the Property. Lender may make proof of loss If Tnator
<br /> tails to do so wGhi�GReen(1S)days o!the aasuefly+. Y1ha97:m or nat Lenders security is impaired.Lender may,a1 its etechon,receh►e and retein _
<br />_ � . the prooeeds d any I�surance and epply the prooeads!0 4hs TedurUon of the Indebtedness,payment af any pen aNecttng ttas P r o p e r t Y.or the -
<br /> � ` ''� restoraHon and repaU ot the Property. If lender Eis�is Yo 3�pply the proceeds to restoredon and repek. 'lrustor shaN roDair ot rep l ace the _
<br /> damaged or desteoyed tmprovemerds in.e mnnner saP�aC,ory to Lender. Lender Shali, upon saUSfack�p�ot ot such e�ertditure,pay or
<br /> :o-. „ retmburse Tiuslor (rom the proceeds tqr the�easoim6te cost af repatr or�estoraUOn It Tnuta ts not tn de'rau►t�nder this Deed ot Tiust. Any
<br /> prooeeds whkh have r.at been disbursed wRhin t80 days after theU receipt and which Lender has not cpmrniltad to the repair a restoratton of -
<br /> � the Property she�ba used ftrst to pay any amou�owinp tp Lender under this Deed of Tnist,then to pay accruad interest,and the rematnder,H -
<br /> '"' any,shatl be applled to the pAnctpai balance of the Indeb:edness.If Lender hotds anyr proceeds afler pgy�nent in tW o}the indebtedr�ess,such ---
<br /> • praceeds aha0 ba pald to Trustor as Tnistor's interests mpq epc,�ear. • �--
<br /> ��� � ,� Unexpired inaurance at Sate.Any urtoxphed insurartCe s.haA inure to the benefit of,and pass to,the puxhaser of the PropeAy covered by ih}b - _
<br />� . Deed of Tntst d any trustee's sele or other sate held undar t�e provisions of thls Oeed oi Tnu�,or at any toredosure seie of such Properiy.
<br /> rT�.-r:;;,,;.;; T n t a t or's R�p o r�a n I n s u r a n e e. U p o n ro qu e s i o f L e n d e r,h o w e v e r n o t m o r e T h a n o n c e a y e a r,T n i s t o r s M T t f u m i s h t o L e n d e r a re p a t o n e a c h
<br />- � exhting pcqqy otinsurance showing: (e)the r�ame Of the la8uret; (b)the�isics insured; (e)the amount at tP�a poilcy; (d)the property tnsured.
<br />-�""" � ' "' t�e the�currgnt t�eplaeemer�t vaiue of such A►cRedY.and t4�e menner ot determininp that vatue;and (e)!he expiraUOn date ot the pdicy.
<br />'�"�'�'�',�'�� Tr�stor shall.upon request o!Lender,have aa inCependeat pp,p►aiser sattsfactory to Lender determtne tha cesh vatue repi�csmeM cost ot the
<br />_fs�::."e -la•. .
<br />,��`i'n.r�:-..r.. ��('��y� .
<br /> �^��'"� . 6Xf+ENDITlJREB Bf LENDEH. �f Ttusta taiis to comply wilh any provlsion of this Deed of Tntst,or ff any scEOra or proceedirg(s Commenoed that
<br /> :��:x:,���4�,► woutd matarialry sNaet Len�x's Intere�ts In the�rapedy.Lender on TNStor's behalf may,but sheA eot be reQui�sd to.take any acUon that Lender
<br /> _ ___•.,,�;;;,�,� deema apptonrl�tt?e,Any amount thflt lender e�ends in so dotnp wtli bear tnterest at the rate proNQ�d for in tha Isate trom Ne date inaurtsd or peid
<br />� ..,,,�; by 6ender to the dete ot repaym8nt by Tnutor. AII such e�enses,at Lenders opUon,wili (a)be payable on demend. (b)be added to th9 belarto9
<br /> _�:�'t�i=�•:,�. � o}tite Kote and be appatlonod�mong and be payabte wtth any instellment payments to becom9 due duri�either p)th9 term of any appNcable
<br />��-'-��:''�- InsuranCe Pailt,y or p)the rema(ntnp tertn of tho Nota,or (o)be treated es a balloon payment wiilcb wip tre duB and paYabfe at the Note'a mahtdty.
<br />-�"-:;�,-:-�-�„ This Oeed o!lYu�d90 r�q secure DaYmeM ot these amounts. The rights prov(deC tar in thb paragraph shap be in additlon to any other�IpMa ot ar�y
<br /> r¢; -- remedles to wh�oP�lerldet may be eMiUed on flxount ot the default. My such acUon by lender shal!not be construed as curing the detault s0 as tD —
<br /> �-�.;���� ber Lender irom anyremedy thet ft otherwise woutd have had.
<br />=-�cr_.,::__--v-..,��7 '
<br /> -"• "--''-�� YYA.�iiiAbTl;L`��OF Y'!Il.E.Tt�t fC°Ct�i '
<br />�,.,---,-�„ ng Fravi�r�rs.atlstig!a cx�srsl:�,ot 8ss^ro�lyr�s pss!of th4a[k�d ot Tn�st
<br />?��+���. �`�"-' Titla Tnator war►ards tha� (e)Tnutor hoids good and marketebte tltle ot recad to the Properly In fee dmpie,hee and clear ot aN Ue�and
<br /> �`���c'�:���' ' enoumb�er�cesotherlhart those set Porth in the Real Pr
<br /> �y"�'"°�.. . tavor of.and aaepted by,Lender fn connectlon with 1h�Gs Qeed�Trust,and (bj Tn�stor Aas hepfuN�dg po�we.r art0 authm(�t'o i�execute and
<br />-�:�":..�Y:�.: Eethter thls Q�ed ot Trust to Lender.
<br /> -�� `-"��� Oetense ot TIIN. SubJeet to the eocc�Uon In the parapraph above,Tr�tor werrants and wiu toreve�delenc0 ttre tttle to the Propeity aqalnst ths
<br />—" Iaw(ut cfaims d all persons. In the event eny eaHon or prooeedfng ts commenoed that questtons Tnutor's Ittie or the interest ot Tnntee or
<br />���-,.: Lender under 1Ns Oeed of T�usi,Tnistor shall detend the acrion at Tnestors e�ense. Trustot may be the nominat pert�r in such prooeedirp,but
<br />-�:��=;;?; Lender sheJl Oe entlUed to paNdpate in the prooeeding and to be represented in the prooaeding bycourae!ot Lender's own chofoe,and —
<br /> �': ��-- Tn�stor wiA deFrer.a cause to be dettvered,to Lender such i�truments as Lender may requast trom 8meto dma to permft suoh parHdpaBon. °-
<br /> _ - wi
<br />' ��'�.'�.:,.. . ---
<br />-":'�'„'' ' Campliance WItA Lewa. Tnrstor warrants that tAe Properly and Trustars use o11he Properly comp0es wfth ap existln8 apPiicable taws.
<br /> - �� • ordinances.and regulatloas of qovemmental authodttes.
<br /> � • COHDEMNATION.The iollowing provislons retaflng to condemnation proceadirtgs are 8 part os 1Ms Oeed ot 7mst. �-�-
<br /> - ... �e:,<
<br /> . � • • Appiteattan ot Net Proceeda. If ail or eny part ot ths Propetty is conttemned by eminent domain pr�occ�edtngs or by arry prooeeding or -
<br /> a e --
<br />- . purehase in Iieu ot condemnatlon,Lender may at Hs eteclion rsquire that eli or any porUon of fhe net proceeds o!the awt�rd be applied to the __
<br />__ �. Indebtedness a the repalr or restaadon ot the Property. 7he�et proceeds ot the award SAart mean the award after payment ot atl reasonabie --
<br /> _ , x eos19,expenses,and attomsys'tees incurtu�6y Trustee or lender in conrt4ction wRh the condemnatlo�. P�
<br /> F..:_ -
<br />- �;'�': P►aeedinga.II eay prooeeding In condemrtallon is fited.Tnistor shalt prortq�Uy noBty Lender in wri8ng,and Tntstor sheli promptly feke such �u;. _
<br />-� �'.;: 1�`,' steps as may be nece�ary to defend the actlon and obffifn the aMrerd. Trustot may be the nominai parry In such praoeeditg,but Lendet shall ��:_
<br /> - be enHUed to pertidpate trt t1eB praceedirtg artd to be represeMed In the praceeding by�ounsel of its awn chok�.end Trusta wit deilvet at ,ys,.';,-
<br /> '' cause to be daWered to Lender sucA tr�struments es may be requestad by ft trom Umo lo tlrno to permit such ped[dpatlen. •':�:
<br /> - ".;'.,.-� � '` IMPOSIT{OPI OF TAfES,FEES AND CFURGES BY GOVERNMENTAL AUTFlOAITIES. The fotlowi g Q ,.����^�
<br /> V R rg prodsians reta8n ta ovemmer�l taxes, i;:--
<br /> - fees tind ChsrQes eie a part ot thls Deed oi Tntsk ��•h-.
<br />- ' __'_ '_ durent T�orea F�es and Charoea. Uann reat�sst bv i.endar.Trustar shaD mmcute such documenta in iddiNcn te fhis Dssd of Trust and take ;t,'
<br /> . whatevet otherection is requested by lender to pertect and conUnue Lenders ilen on the Real Property.Trustor shtili reimburse Lende►tor flU �� •
<br /> ta�s,es desamed betow, together wfth an e�enses Irteurred fn�ecording,peAecttng a conUnuing Ihts Oeed of Tiust,lnctudfrg without `
<br /> . umHaBon aC tazes.fees,daumentary stamps,and other oharges tor recordMg or registe�trtg lhls Qeed otTrusL 4'����
<br />_• Taxea. 'fhe faUowinp sheU corisUtute taxes to which this seetlon appties: (a)a sPedBo tax upon lhis type of Oeed of Tmst or upon ad a any -
<br /> - ' part ot the indebtedness seeured by this Oeed ot Trus� (b)a spedtie tax on Trusta wAtch Tneuor is eulharined or required to deduaf trom
<br /> payments on IAe Indebtedness secured by 1MS type ot Oeed ot Trus� (o)a tex on tTfs type of Deed o!Trust charpeoble aga[nst ihe Len6er a
<br /> .-. . the hdder at Ihe Noto:and (d)a spectftc tex on all or any podion of the Indebtedness a on paymads af pdndpal and tM�o3t mid�by
<br />- TNStOr.
<br />- Sub�equent 7mces. If any tex to whtch tAfs sectlon epplies Is enacted subsequant to the date ot thts Oeed ot Tn�st,this sverd shali haw the
<br /> ' .. same ettect as en Event of Oetautt(ea deflned below),and lertder may enerdse any or att of Its avatlaWe remedies fa an EveM ot 08tautt es
<br /> , • provtded below untess Trustor either (a)pays the tax betore ft beeomes deqnquent,a (b)contesb the lax as provfded above In ihe Tezes and
<br /> . Lleng sectlon end deposlts with Lender cash er a soffident corporatg surety Cond or other seeudty setlsfa�ry tq�enc(ar , .
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