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<br /> ' D�ED OF 'iRUST a��� �1.Q�3,j p�� 3 �^:�., _��_-:.
<br /> � 12.-01-1997 `�'`��n
<br /> , Loqr4 No 903at5 (Continued) , �-.a::
<br /> ::�{��:_
<br /> _ .:._'[•'::['bF"
<br /> Property. Truslor shnll narnp Lendor es en eddllional obliq9e under eny surefy bond lurnlshed In Ihs conlost proceedinys. . � . ° .
<br /> Evtdance o1 Paymenl. Truslor shall upon demand furnlsh lo L�ndsr eapsfactory�vldenc�ol paYment of Iho tazas or assassmanis Qnd ahall •. . :. t,:
<br /> aulhalia�he approprtete povernmenlnl oHiclal lo deliver lo Lendsr at any lime a wrlHen ntelema�t of the faxss end asshsm�n�a�GaIMt lM � „
<br /> :.'��..
<br /> P���. . ;..
<br /> Notk�af Consiructlon. Truslor shau no�ify Lendw at least 8fteen(16)days bsfore�ny wak Is commenced,any s�rv�c�s u�turnkMd,a any ;,� :�_
<br /> materi�ls are supplied to the Propert/, If any mechanlo's ikn,malul�lrrhn's Ilen,a olhsr INn could bs assarted on �ccounl 01 lh�wodc, ;,,�r,^:_=
<br /> se�vkea,or maledals. Trus tor w l l l u p o n r e q u e s l o f L e n d�r fwnlsh to Land�r advana wunnoa sarisiaotory to L�ncNr tlul Trualor can and wIM ir�-�"-
<br /> ppy ttN cosl 01 such improvemont5. ''�-'
<br /> pqppEqTY DAMAOE INSURANCE. The IoNOwinp proNslons rN�tinp to Insur�rp ih�Prop�rly a►�a Pu1 of�hls Deod of Trtnl. ;:^�x� ��
<br /> . .....r^�"" ��-,,z7�'...
<br /> Maintenance of Insurance. Trustor shall procure and melntefn pdicies of fire Irtsurana�"►Rhin�n�moun sutflcN t to svdd app�Ncadon of any �"�s�• =--
<br /> _ .�a . �{..,,c:—
<br /> replacemenl basis for the full�nsurab�e velue coverinp all Imprawmants on the Re�l P►oD�Y
<br /> Colnsaranco ctnuse,and with a standard morlpapee cteuse In f4vor of Lender,top�lhsr wHh such othar hazard and U�b►8ty Inaunna as Lmd�r �,:--W-
<br /> may reasonAbly require. Pol�les shell be wrllten In form,amounts,coverapes end basls reaaorntbly acceptabb to Lend�r�nd luu�d by a .�..
<br /> Company or companles reasanebiy acceptable to Lender. Trustor,upon reqwst of Lender,wfll deliver lo lender hom UrrN to drr►�th�pd�kf� �,�ri?
<br /> . a cKtificales ol insurunce in lorm sausinctory to Lender,Includiny stlpulaHons tlui cownpes wiM not b�cancNMd or dim��bh�d wl�hout d �,_`-
<br /> 1� bast ten(10)days'prlor written no1W to Lende►. Each Irtsuranc�pdicy�iso shQN Indud�an�ndors�rnant providirp thal coverape In hvot W �- ,. _
<br /> b Lend�r will nol be Impalred In any way by any act,omhabn a d�hull uf Tnntor a�ny o1hK pM�on. Should tIN RNI PropMy 11 anY HrtM _
<br /> dh
<br /> � become located In fln area designeled by t M D lreC t M o f the F�detll ErtMrO�nCY Man�WrM���'O��y�s a�����d�r�'Trustor
<br /> i aqraes lo obtaln and melntaln Federal Flood Insuranc:�for th�fuM unpald pdncipd Wknt�of t►w lan,up to ih�matdmum p o N O Y N rt�s M _
<br /> n
<br /> under tha NaUonal Flood Insuranca Propram,a�s otherwis�nquk�d by L�nd�r.�nd to malnl�ln auch inaurana lot�h�brm d�M lo��•
<br /> � � Apptic�tion of Proceeds. Trustor shall promptly notlfy Londer of any loss or tlamape to the PropeAy. Lender mey make proot of toss It Trustor _
<br /> � falls lo do so wilhin f�nee�i(tb)days ot the casualty. Whether or not Lender's secudly Is Imp�lred,Lender may�d�ts Naal�on,recNw and rstsln
<br /> the proceeds ol eny Insuranco and apply the prceeeds to the nductlon of the Indebtedness,payment of any A�n aflsctirp tM Propety,or th�
<br /> restoration and repair oi the Property. If Lentler e�ects io eppiy lhe proceed�t0 rasiorn��on end repalr,Trustor ehatl repak or replaCO tha
<br /> r�elmbuese Tnstorf/om�he prOCeed55for lhe easonable}c st of,epalr or restorat on IitTrus or Is ntot}Intdetsu�t un�d�r th�s DNd o�`T�►sp�A y
<br /> proceeds wnicn nave not been disbursed within 180 deys aHer their recelpt end whlCh Lender has not commlHed to ihe repsk a rastondon of
<br /> the Property shell ba used tirsl to pey any amount owing to Lender under this Deed of Trust,then to pay accrued Interest,And the remaln�,It
<br /> � any,shall be applied lo Ihe pnncipal balance o1 tha Indebtedness. If Lender holds anY Proceeds e�w F`Y�nt in fuN of th�In6ebbdn�ss,st�ch
<br /> proceeds sha�l be peid to Trustor es Trustor's Interesls mey appear.
<br /> ' Unsxpired Innurence et Saie. Any unexpired insurance shali Inure to lhe beneRt of,a�d pass lo,iha purchaser of tFN PrOpwly covN�d by thb
<br /> ' �. Deed of Trust a1 nny trustee's sale or other sale heid under the provlslons of thls Qeed of Trust,or et any toreclosuro s�ls ol suCh PrapKty.
<br /> Compllance wlth Exiatlnp Indabtedness. Duriny the period In wh�h any Gxistinp Indebtednoss descrlbed below h in N(�ct,ComplianCS wKh
<br /> � lhe Insurence provislons Contalned In the Instrument evldenclrW such Existln� Indebledness shttl constilute CompNana wHh th��nsura^c� —
<br /> provis�ons undor thfs Deed of Trust,to lhe extent compliance with the terms oi Ihls Deed o}Trust would aonslNute a duplic�tlon ol Insurana
<br /> requiremenl. II any proceeds from the Insurance become peyabb on Ioss,the provf4ons In thls Deed of Trust for dlvfslon af prawds�shsM
<br /> — apply ar,�!0 lhst p^�!!^^^f n�a nroceeds not payable to the hdder ot the Existinq Ind�bledness.
<br /> D(PENOITURES 9Y LENDER. It Truslor fells to comply with eny provislon of this Dsed of Trust,Includirp any obipation to Rwiritnin G�t:Ns�
<br /> Indabtedness In good siend�ng es requlred below,or fl any ectlon a prxeedlnp Is commsnCSd thai would mat�rl�Hy�tM�ot�L�lna�tunNr�q'b snda
<br /> Rn
<br /> prppetfy,Lender on Trustor's behalf may, but shall nol be requlred to,tuke eny ectlon that Lsnder da�rtn app op N ��t by
<br /> ;` expends in so doing win bear inlerest el lhe rate provided for in Ihe Note from the dtte fncurted a pald by Undw to tM daU of npay
<br /> � Trustor. AIt such expenses,el Lender's option,wlll (a)be payable on demand, (b)be added to tM bNanc�of ths Note an�bs�p����t m
<br /> ,� and be payable wilh eny inslnllment payments to become due durinq either (I)lhe term o}any appNcabfe Insuranca poucY ()
<br /> '� of the Note,or (c)be treatad as a balloon peymont which will be dus and payabN at ihe No19's maturity. This Desd of Tnnt also wW isCUr�
<br /> entl!ed Orif 8CC unl of lheSdefaulL 9Any 5 h act onr by�lende ashau not be constaued'es curinp t defiultfso as t rbdrrt�Le d�r�hom any nmrdY lhN
<br /> • �• Il Otherwise would heve hed.
<br /> •1'
<br /> WARRANTY;DEFENSE OF TITLE. The fallowlnq provislons relalina to ownershlp of the PropsrtY u�a pa�t of thfs DY�d of Trus.
<br /> �}'- 7itb. Trustor warrents Ihal: (a)Truslor holds qo0d end marketabl811ti8 ot r8cord to ths PrOporty�n H9 S�mPM�hM�^d c�r o�aN�S�nd
<br /> r� polky,I�it e roport hor f nel tilhe op�8on/55uied In evor of,and aCCep�edtiby,elnder InEco'nn�ectlon�with thfs D d of T ust t d (b)Tiustor has Ihe
<br /> � full righl,power,and authority lo execute and deliver lhis Deed of Trust to Lender.
<br /> pete�ae of 71t1e. Subject to the exceplion In the peragrdph above,Trustor waR�nts and wHl forswr dNs^d the tNN to Ih�Prop�rty aW�ns�th�
<br /> � Iawful cialms of an persons. In the event any actlon a prxsedirp Is aommenrAd that questlons Trustora Utl�or lFN Intanst 01 Tru�tN or _
<br /> � Lender under Ihis Deed ot Trusl,Truslor sheil delend tho eCtion et Trusto�'s expYn".,a. TtUStOr maY bY tha nomin9i parly In auCh proC�Md�np,but
<br /> Lender shall be enl�tlod to partfcipete In the proceedinq and lo be repres�nted In the prxeedln0 by counsel of Lend�r'e own chaky,�nd
<br /> � � Truslor wlll deilver,or cause to be deliverod,lo Lender such Instruments as Lender may request hom time to tlms to p�rmft such portiCipltlon,
<br /> ,� i Compllanca H11th Lews. 7rustor warrants thai lhe Property and Trusta's use of ihe Property Compllas wlth�II sxistiny oppMCabw lav�n.
<br /> ; �� Ordinances.und regu�ellons ol gove�nmentel euihoNlteS•
<br /> ., Y ! EI(ISTING INOEBTEDNESS. The following provislons concernlnp exisiinp Indebtedrsss(the'�xl,liny Indebtidnsss')arY a P� o�«����
<br /> 4 7rust. =-----
<br /> S Faclsling Uen. Thv iien o�thls Deed of Trust socuring the indebtadness may be seco�dary end inferlor to m�xblinp Nsn. Trustp�xpratly �._.�_,
<br /> covenants and agrees to pay,or see to the payment of,the Exislinp Indebtedness and to prevent any defauit on suCh Indebtedness,�nY���W� --- —_
<br /> j u n d e r t h e I n s l r u m e n l s o vi d en C�n p such Indebtedn0ss,or eny datautt under any Securlty doCUmenb for auCh Indebtsdns�,t. s;����
<br /> pe}euit. If Ihu peymenl of any inslallment ot pdncipel or any Interest on the Existing Indebtedness Is no t m�de w l t M n I h e t l n w r s q u l t�d b y I h� ,�K��,,-,_-
<br /> noto evidencing suCh indeb�ednoss,or should e deiault cecur under the Instrument eecudnp such Indebtedness�nd not be cur�d dudn9 o^y ; =i.:ti:.�,
<br />- eppllcable grace peilod therein,then,at ihe option ot Lender,the Indebledness ttecured by thfs Osed of Trusi shall bacorrN immedklNy du� ,.y�-_ 'r
<br /> end peyable,Bnd Ihis Deod of Trusl shall be in defau�t. „��'?':. `�
<br /> No ModHlcallon. Truslor snall nol enlor into eny agreement wilti the holde�of eny mortgage,deed of trust,or other secu�lty agreertwnt wh�h ; : ;�
<br /> - Londe��rfTru lor h1allDnn her erquesY o�'eccept any�uee1ud anc'es unde eany such security afl eementl without the prior wrlflen consenl of
<br /> ILonde�.
<br />- � CONDEMNATION. Tho foilowing provisions reialing lo condemna��on proceedtng�ere e pert Of lhiS Deed of Trusl.
<br /> _ I Applicatlon of Nel Proceeds. i� a�i or any part of Ihe Propo�lY�s condemned by eminent domeln proce+3d�ngs a by eny prxeediny o� ..
<br /> purchase in ueu ol condemnnlion,Lender may at its eleetion requlre that all or eny po�l�on ot the net proceeds ol the flward be app�bd to lhe
<br /> Indeb�ednc�ss or Ihe repalr or restorahon of the Property. The net proceetl5 o11he ewerd shstl mean the aw8rd Bfler ptYment ot tll rNSOmb19
<br />= 1 .....�.. e,,..o��o� A��a�tornnvs'fees incurred by Trustee or Lendor�n ConneCtion with Ihe Condemnatlon.
<br />_ � � ,..,.....,.._r_..---•- . -_ _
<br /> i NroCeedings. II:�ny prceeed�ng in condemnalion Is���ed,Trustor Shali promplly noti}y Lender In wriUnp.8�tl TfUSl016►1aB prompiiy iiwo 5w�.
<br />� - � steps as may be necossary lo de�end Ihe action nnd oblein Ihe awerd. Trustor mey be the nominal perty In sueh proC9edirp,but Lender Sltill
<br /> 1 b9 enidled�o p����c�p��e in Ihe procood�ng and to bo represenled In ihe proCeed��g by counsel ol Iis own Cho�e,and TruSta will deilver or
<br /> + I ceuse to bo delive�od 10 Londer such ms��umenls as may bo requosled by II trom time lo Ilme to peimlt such part�lpallon.
<br /> - IMPOSITION OF TAXE5,FEES AND CHARGES BY GOVERNMENTAL AU7HOFIITIE8. 7he�ollowing provlslons relating lo governmenlal lexes,
<br /> ' lees end cha�pas a�e n n��l ol ih:s Deed of Trust:
<br /> Current Taxes.Fces nnd Chorges. Upon requesl by Londor,Truslor shall exeCUto suCii documents in addfllon lo this Oeed ol Trusl and lake
<br /> whatever olhar aclion is�equeslad by Lender lo perloCl end conlinue Lendor's lian on lhe Real Proporty. Trustor shell relmburse Londer lor ali
<br /> laxas, as descr�b�d beio�v. loge�her�wlh all expensos incurred In recording,pe„ect�ng or continuirg Ihls Deed ol Tru51, fncluding wilhoul
<br /> limlta�ion all laxus.��es.doCUmenlery slamps,end other cha�ges�or recording or refliste�ing Ihis Deed ol Trusl.
<br />� Taxc�. Tnc icuo�,•+^q 5��811 CUnSUhilA IaxaS to wh�ch this seclion epGlles: (a)e specific lax upon this lype of Deed o�Trusl or upon flil or nny
<br />_ ' part o�Ihe indnbied��t�ss srcured by Ih�s Deed ol 1'rust; (b)e speci��c lax on Truslor which Trustor Is author�zcd or rCqufred lo deduct irom �
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