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<br /> DEED OF TRl1S1' �7'+ 11("J��2� Pape 3 ` ...,,�:.��.-=;-
<br /> � • 12-10-1997 . - `.;.- �-:-
<br /> t Loen No 60d690 (Continued)
<br /> 1 . Trustor shell upon demand lurnlsh to Lendu aadsf�ctory evidence of paymenl of the texes or assessnwnts and ehau '1 .
<br /> � Evid�nco of P�ym�nt �
<br /> sulhorlxe the appropr�4�e Qovernmental otticlal to dellver to Lender at eny Iime e writien statement of the taxes and assessmenis apalMl ttw
<br /> Ptoperiy. „ �
<br /> m�����f�i�pp,�d�jo�rh��prpp�rty/f any mschan c st Ini�mitarl amn�e I en, or o her I en�c u d be�asserted�onsac o'unt�ol�h�work ,.
<br /> a�rvlc�a,a mat�rlals. Trustor wip upon r�qussl ol I.endar lurnlsh lo Lender advance aasurnnces satlsfactory to Lendar th�l Trustor cin and will —
<br /> • pay ltN cost�1 suoh Improv�ments, .
<br /> pRpPERTY OAMAOE IN8URANCE. Th�fdlowlnp provlsions rNatirp!o Ins�rinp th�Prop�rty aro a Dtrt of ihls DMd Of TNS►. a•',_
<br /> MYnNn�na ol In�uunca. Trusror shall pra:ure dn pN Improvirr�b on ih�Rwl Prop�y In an omounl suM�ant orn�old n�►cet on olany _ . .
<br /> ,_:.,r• rept�arrNnl bstls lor th�full Insu��bl�valw cowriny n�rd ;�.s...,,.�
<br /> � cWnsuranc�ckus��and wHh�a4ndard morlp�pM ckus�In favor ot L�ndK. Trustor ihall�ko Prooun�nd rtuintaln compnt►�nslvo p� ty =.���
<br /> ��,
<br /> ilablllty insuranc�In such covanp�amounls es Lende maY nQws1 wf�h truste�and I.�nd�bNnp narrwd ae additloml Insureds in�uch Ikbl .G V,�r L•�,—
<br /> Insunnc�pd►cia• Addltlonally,Trusta ehall rtulntaln such other Insurancs,Includlrp but nol Ilmlted to haiard,business Ints�ruptlon,and f „� ,t'
<br /> boli�r In�unnc�,�s Under may reasombly requln. PdlcNs ehall b�wdRan In form,tmounb,cowrAyes and basis reason�bly�caPUb�e to t�_',
<br /> Lsnd�r and lasuod by�or cirtlACales ominsurance8ln o myaatisCfactory o�L nder,Inct dlnp s1pWe►t�lo�ns Ihat o�flssiwl�not b�cancNNd a ���,r_.�
<br /> tlms to time Ihs polcl�s °::-
<br /> dlminlsFNd wilhout nt Ioast lon(10)deys'prlor wrl►►sn not�o to Lender. Eaah Insurana pdby dso ehall Include an�ndoroemant provldlrp tha► •
<br /> :,� cownp�in fava of Lendar wil�l�d n anpur:dd:apni ed byyth�D��ctor of IIM F�dltaluEmlrp�nayrMamparrwnt Aq noy as a��sp�Cld�od � :�•�''
<br /> ,� Prop�rty at any 11rrh WcortN ' �`•�,=.
<br /> haurd eraa,Trustar�qn+es to obtaln and mtintaln Fsderal Fiood Insurance for lhe full unp�ld princlpal balance ol the lan,up to th�mudmum `.�
<br /> � polky Ilmits set undsr the Nallorul Flood Insurance Propram,or as otherw�se requlied by LenQer,and to malntain such insurana ta►FM Mrm of _
<br /> ihe IOBn. .�:l"''
<br /> � Appllcat{on of PrceNds• Trusta shaA promptiy notlty Lsndar of any loss a damape to the Properly. Lend�r may mnkv proof o}loss if Trustu • ?'; _
<br /> . tho p�oceeds o1�A'ny nwnnce td pPhY��Pa�d hto tho educ Iono ih�Inudebtedness'rP�Yr�nt o any Iian afMclinp t�o�p aa�nd roart��IHn
<br /> !�� restanllon and repalr ot the PropertY• It Lander elects lo oppiY the procoeds to resiwation nnd repalr,Trusta chall rspelr a rspua lh�
<br /> d�rtupec!a dsstroyed Improvements In a manner satlstactory to Lender. Lander shall, upon satisfactory proof ot such axpendituro,pay a
<br /> f rA1�ds whlch have not bee�bursedthvilhen 180 days ette�ihel�r�ieCelprea d�wh ch Lender has not committed t�heheapa�orrastordlon of _
<br /> �4". p .
<br /> th�e Pshae be appl ad losthe princi�el balance of lhe Indebted eness.r If Lender'holds any proceods aRer PoYme t In fu leof the Inddebted^�asslnder,„
<br /> a y, '
<br /> ,� prOCeeds shall be pald to Trustor as Trustor's Interests may appear. �;
<br /> T• Urnxplrsd Inwnnee�t 3�e. Any unexplred InSUranCe shall Inure to the benefii oi,and pass lo,the purchaser of ihe Properiy Coverod by thls �.•
<br /> �� Deed of Truat at sny trustec�'s sale or other sale held under the provislons of lhls Deed of Trust,or at any foreClosure sale of such Propsrly. —_
<br /> • Trusta'a RepoA on�nsu►ena. Upon request ot Lender,however not more than once a year,Trustor shall furnlsh to Lender a nport on wch !
<br /> � tho then current replac ment value�ot�such p operly�and the manner of determinenp that elue;�and�(e)fhe�lexypiratonhdae of thNl�Pol�y
<br /> Trusta chall, upon request of Lender,have an Independent appralser salisf�ctory to Lender determine the cash valw replac�rt»nt cost of th� ,
<br />_ = Prc�',ert'�r. :
<br /> TAX AND IPlSURAMCE RESERVEB. SubJect to any Ilmllatlons set by appNcabte law.Lendar maY raqulre lrusior io meini�iii Wiit�i.�rdos�'°r°
<br /> for pay timaled b n ender to be sulNClent�to�od ce amounlslamlasst equa��o he taxe��ctssess enb�and Insu anca premiums�to b�pdd�Th�
<br /> i ' sum es Y p�
<br /> � reserve lunds shall be held by Lender ts a qenerel deposit hom Trustor,wh�h Lender may sotisfy by payment of tha texes,aas�ssrrNnts.�n
<br /> �` ilems,dpLen Ider shalQ not be requplred bo determine the validity or occur cy o any item befon p�ylnQ dra Noth�rp�in t Oe�df uotdTrust tha b� — --
<br /> construed as requkiny L�nder to advance other monies for such purposes,and Lender shell n d to furihar s�ecu�re th�I�nd�ebied�nessy�d�ndar fs �R
<br /> � do wlih rsspect to lM reserve eCCOUnt. All amaunts in the reserve aCCOUnt are hereby pbdye �u
<br /> � hereby authorized lo wllhdraw and epply such amounts on the Indebtedness upon the occurtence of sn Event of Default. LendK sh�A not b� _ _
<br /> requlred to pay any Interest or earnings on the reserve funds unless requlred by law or apreed to by Lender In wriilnp. Lender doss not hdd tM
<br /> �� res0rve funds In trust ta Trustor,and Lender Is not Trustor's aqent tor payment of the taxes and assessments required to bs pald by Trustor. o
<br /> f; p!pENDiTURES BY LEND�R. If Trustor falis to cort�ply with any provision of thls Deed of Trust,or Ii any actlon or pr�ceedlny Is comm�ncsd 1ha1 _
<br /> �; would matarialiy eflect Lenders Interests In the Property,Lender on Trusta's behalf may,but sheN nol be required to,
<br /> tak�any acifon thtl Lender
<br /> deems�pproprlate. Any emount that Lender expends In so do�ng wlll bear Interest et the role proNded for In Ihe Note Nom the dats Incurt�d or pdd
<br /> � of t e Note and be�apportlonyed amon9 end be pay b e wiplh a��instalelme�paYments to bge�come dwI durin0 ��() �K d o`^y�pa�b�
<br /> •t —
<br /> '�' Insurance pdby or (II)the remalnlnp term of the Note,or (C)be treated es a b611oon payment wNch will b�due and payabb�l the Noto'e ma u .
<br /> v This Deed of 7rus1 dso wul secure payment of thesa amounts. The rlqhls provided fa in thls parayraph shaH be In additlon lo ony othx r1phts or any --
<br /> remedles to which Lsnder may be entitled on account of the default. Any such ecaon by Lender bhall aot be construed ns cudny the detault so a�to _
<br /> _ '� bar Lender hom any remedy that It otherw�se would have had.
<br /> WARRANTV;DEFENSE OF TITLE,The followinfl provislons reiatinp to ownershlp of the Property aro n part ot this D�ad of Trust.
<br /> Title. 7rustor wanents that: (a)Trustor holds yood end marketebie title of record to thA Froperty in fee slmple,free nnd cls�r of Qu Ilens and _.
<br /> � encumbrances other than those set lorth In the Real Proporly descr�pflon or In any tille insurenCe pol�y,tltle report,o►Bnal title opinlon Issued In —
<br /> fava of,and accepted by,Lender In connectlon wilh thls Deed ot 7rust,and (b)Trustor has the full righl,power,and authorlty to ex�CUta end __—�—�
<br /> deliver thls Deed o�Trusl to Lender. -
<br /> ' Qefen�e of TItIe. SubJeCt to Ihe excepllon In the para4raph abovo,Trustor warcanls and witl forever defend the titie to the Property�palnst tM �__-___-_�
<br /> lawtul clalms of all persons. In the event any actlon or proceeding Is commenced that quAStlons Trustor's tltie or Ihe Interest of Truslee or i'�����_
<br /> Lender under thls Deed of Tn�st,Trustor shall defend the actlon at Trustor's expsnse. Truata may be ihe nominal parly In such procsedln9,but. �,-y_�_'.:
<br /> Lender shail be entllled to particlpate In Ihe proceedinp and to be represented In Ihe procoedlnp by counsel of Londer's own cho�e,end �T, ��_
<br /> Trustor wlll deliver,or cause to bo deilvered,to Lendor suCh InstrumeMs es Lender may request hom tlme to time to permlt such part�lpatlon. _ :s�;��.��'
<br /> Compllmce Wilh Law�. Trustor werrants Ihat tho Proporiy and Trustor's use of the Property complles wlfh all existlnq epplicable laws, , :._`_K__
<br /> - adinances,end repu►ations o1 governmenta�euthorltles. ���t�=
<br /> CONDEMNATION. The(oliowing provislons reiatlnq to condemnation prceeedings are a part of Ihls Deed of 7rust.
<br /> ...:,.,
<br /> Applicatlon ot Net Proce�da• �f a�l or any part ot lhe Properly Is condemnod by eminenc domaln prxeedlnps or by any proceadiny a
<br /> purchase in Ileu of condemnallon,Lender may at Its eloctlon roqulre that ell or any portion of the net pruCeads of ihe awArd be app�ed t0 thY
<br /> Indebtedness or Ihe repalr or restoratlon of�'�e Property. The net proceeds of the award shall mean the award afler payment Ot all rea5onabte
<br /> costs,expenses,end eltorneys'fees Incurrod by Trustee or Lendor In Connecllon wilh the Condemnatlon.
<br /> ProCeediny�. If any proceeding In condemnatlon Is filed,Trustor shall promptly notify Lender In wriling,and Trustor shall promptly taka auch
<br /> slops as may be necessary lo delend the actlon and obtaln the award. Trustor mey bo the nominal party In such proCeeding,but Lender she�
<br /> be entilled to partic�IPate��o�pr cuhe nsitruments as meypbe requested by I�trl om tme oyllm0 to p9rmit s ch particlpaUon.Trustor wlll d ver a
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<br /> � IMPOSITION CF TAXES, FEES ANQ CHARGHS BY GOV�RNMENTAL AUTFiORITIHS. The loltowfng pro�nstons reiaring io pow�����ro������o�,
<br /> � lees and Charges are 6 purt of thls DOOd of Trust: �
<br /> � Current Texes,Fees end Charpes. Upon roquest by Lender,Trustor shall exe�ule such documenls In addltion td thls Dead of Trust and teke
<br /> � whalever olher eCtlon Is requestod by Lendor to perfect and contin�e Lendor's Ilen on the Real Prope�ty. Trustor shall relmburse Lender for ud
<br /> lexes,xs descr�bed below,tcaolhor wfth ail expsnses Incurred In recording, perfectinq or continuing ihls Desd of Trust, Including withoul
<br /> � limite�lon ell lexe9,lees.doCUmen�ary slninu5�ai iJ u1hLf ChIIrgOS fOr rBCO�����nr roqlSlering thi5 088d of TrUSI.
<br /> TpItES. The follo�ving Shall Conslfiule Inxes 10 whlCh Ihl,seCtlon epplles: (a)a spocific tex upon Ihls type of Deed of Trust or upon alt or any �
<br />— peymonts oo�Ihe Indabtedness se uyod by�ihis typeroi Doed�of Tpus"I(c e tux orn Ihis typlo o�Deedrof Trusl�Cha geeble egalnst the Lende�0�
<br />— the holder o�the Notd;nnd (d)u specific inx on uii n� uny Uo��on o1 Iho Indebledne55 or on pny�nents df principnl end Intoro5l m8do by I
<br />� � 7rustor. I
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