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. 201208585 <br /> DEED OF TRUST <br /> Loan No: 872058797 (COBltiftu0d) Page 3 <br /> an area designated by tne Director of tne Federal Emergency Management Agency as a special filood hazard. area, <br /> Trustor agrees to obtain and maintain Federal Flood Insurance, ifi available, fior the maximum amount ofi Trustor's. <br /> credit line and the full unpaid principal balance of any prior Iiens 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 Lende��r, and�to <br /> maintain such insurance for the term of the Ioan. � � <br /> Application of Proceeds. Trustor shall promptly notify Lender of any Ioss 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 of 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_ If Lender elects to appiy the proceeds to restoration and repair, Trustor shall repair or <br /> replace the damaged or destroyed Improvements in a manner satisfiactory to Lender. Lendet shall, upon <br /> satisfactory proofi of such expenditure, pay or reimburse Trustor firom the proceeds for the reasonable cost of <br /> repair or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which have not been <br /> disbursed within �80 days after their receipt and which Lender has not committed to the repair or restoration of <br /> the Property 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 full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's <br /> interests may appear. <br /> Compliance with E�cisting Indebtedness. During the period in which any F�cisiing Indebtedness described below is <br /> in effect, compliance with�the insurance provisions coMained in the instrument eviden::ing sucf� Existing <br /> Indebtedness shall constitute cornpliance with the insurance provisions under this Deed of 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 firom the insurance become payable on loss, the provisions in this Deed of Trust for division ofi proceeds <br /> shall apply only to that portion of the proceeds not payable to the holder of the F�cisting Indebtedness. <br /> LENDER'S EXPENDITURES�. If Trustor fails (A) to keep tne.Property firee of all taxes, liens, security interesYs, <br /> encumbrances, and other dai:ms, (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�afifect 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 Credit Agreement from the date incurred or paid by Lender to the date oF <br /> eepayment by Trustor. All sucti expenses will become a part of the Indebtednes�S and, at Lender's option, wiil (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 installment paymenYs to become due during either ('i) the�term�of any applicable insurance`policy;��or (2) the <br /> remaining term of tne Credit Agreement; or (C) be treated as a balloon�payment which will be due and payable at the <br /> Credit AgreemenYs maturity. The Deed ofi Trust also will secure payment of�these amounts. The rights provided for in <br /> this paragraph sha❑ be in addition to any other rights or any remedies to which Lender may be entitled on account ofi <br /> any defiault. Any such aciion by Lender shall not be construed as curing the defiauk so as to bar Lender from any <br /> remedy that it otherwise wouid have had. <br /> WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of ihis Deed <br /> of Trust: <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 Iiens 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, tit�e report, or final tifle 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 /> auYhority to execute and deliver this Deed of T�ust to Lender. � � � � <br /> Defense of Title_ Subject to the exception in the paragraph above, Trustor warrants and will forever defiend the <br /> title to the Property against the lawful claims ofi all persons. In the event any action or proceeding is commenced <br /> ihat questions TrustoPs title or the interest of Trustee or Lender under this Deed ofi Trusr,Trustor shall defend the <br /> action at Trustor's expense_ Trustor may be the nominal party in such proceetling, but Lender shall be entitled to <br /> participaie 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 /> Cornpliance With Laws. Trustor warrants that the Property and Trustor's use of the Proper[y compiies with all <br /> existing applicable laws, ordinances, and regulations of governmental authorities. <br /> Survival of Promises_ All promises, agreements, and statements Trusrtor 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 shaq remain in full force <br /> and effect unYil such ti��.me as Trustor's Indebtedness is paid in fiull. <br /> EXISTIIVG 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 payment of, the Existing Indebtedness <br /> and to prevent any defaulY on such indebtedness, any default under the instruments evidenc�ng such indebtedness, <br /> or any default under any security documeMs for such indebtedness. -� <br /> No Modification. Trustor sfiall not enter into any agreemeni with the holder of any mortgage, deed of trust, or <br /> other security agreement which has priori2y over this Deed of Trust by which that agreement is� modified, <br /> amended, extended, �or renewed without the prior written consent of Lender. Trustor shall neither request nor <br /> accept any fiuture advances under any such security agreement without The prior writterv consent of Lender_ <br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part 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 may be necessary to defiend the action and obtain the award. Trustor <br /> may be the nominal party in such proceeding, but Lender shall be entitled to participate in tne 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 condemnaiion, Lender may at its election require that aIl or any portion of tne <br /> net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property: The net <br /> proceeds of the award shall mean the award after paymeM of all reasonable�costs, expenses,�and attorneys'�fiees <br /> incurred by Trustee or Lender in connection with the condemnation. - � � - <br /> IMPOSITION OF TAXES�, FEES AND CF3ARGES BY GOVERNMENTAL AUTHORITIES�_ The fiollowing provisions relating <br /> to governmental taxes,fiees and cnarges are a part of this Deed ofi Trust; <br /> Current Ta�ces, Fees and Charges. Upon request by Lender, Trustor shall execute such documents i:n addi2ion to <br /> this Deed of Trust and take whatever other action is requested by Lender to perfect and coMinue Lender's lien on <br />