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<br /> ' DEE� OF TRUST Pe�e 3 •�=���'°
<br /> 12-Ob-1997 Continued) g7 ��.Q��� -_:�:`:?-�-
<br /> Lodn No 800d33 � � .:`-`'�'"`
<br /> • � ' ��'�� .. +'`�T.
<br /> -iiNa.iY� "��� �''�
<br /> �uthotlt��h��pproprl�to powrnmontal oNiclxl to deiwor to Lendor at any Ilme a written ststemenl of the taxes and assessmenta agalnst t
<br /> Prop�riy. ..;,,•-
<br /> Notla of Constructbn. Trustor sh�ll notiry Lander 1l1 I�aal�Ile�n(t6)daye befa�nny woric Is commenced,�ny servlcas are turnlshed,or any . ,_-
<br /> ' m�txlils u� supplNd lo th�Property, If�ny mnahenb's INn, mnt�rl�lrrwn'e INn, a olhar Ibn could be �sserted on accounl of the work� • ,.5••:j;
<br /> Nrvlc�f,a matKl�ls. Trustor wlll upon rsqussl of Lender furnish to Ler.der edvor�ce essurances satisfectory io Lender Ih�t Trustor Can�nd wiN .;;.
<br /> • p�y lh�cosl of such Improwmsnts. � �� 'y'�
<br /> ��nfi•Ti•_.—_
<br /> PROf'ERTY DAMA4E INSURANCE. 7he tdlowf�0 ProWslons rNetlny lo Insurinq the Property ar��pe�t of lhle Deed of Trusl.
<br /> ,
<br /> Ma1nUnM�a of Inwrr�e�. Trustor sh�ll prxur�an d ma ln t t l n p o l l c l o s o t A r e I n s u r R n c a w i t h s l a n d a r d e x t e n d e d coven y e endasements on a •.,,-,.
<br /> ,,,,,,.r+^ replaam�et baslt for ttw NII Insur�bl�valw cov�riny�il Improwmenb on ths Reat Prop�rty In an�mount aufNCbnt to I�vdd�pplkatlon of any .',�?i��,�_
<br /> . ..,�• colnsunnc�claus�,�nd wlth e standard mortpapN clause In tevor of Lender,topether with such other haatrd end IlabWty Insur4RCe as Lsnder �. ;�;:'..:;'
<br /> �� ,_ { may nasonably roquk�. Pdlclss shall br writt�n In lam,�mounb,coverepes ond bssls rwsonably acceptable to l.snder and Issued by� ,_.h .�,�-��
<br /> comp�ny a comp�nla rwsonabry�cc�plabN to Lsndsr. Trustor,upon requast ot LendK,wlu dMiver to Lend�r kom lime to tims th�pd�les j ,-�,,��?,,(yd*
<br /> ' or artitical�s of Insuranc�In(am iatlstaotory to L�nder,Includlny sdpukHone that coverap�s wltl not be cance�Hd a diminlshed wHhout tt 4.� .,- ,,,_•—
<br /> bast t�n(10)days'prla wrttlon not�o to L�ndsr. Each insuranc�pdby also slull Include an endorsement provldirp Ihat coverefle In favor of . _�; .:,,
<br /> I.pnder wiH nol be impnlred In any way by any aci,omisslon or def,�ult ot Trusta or any other person. 3hauld the Reai Property at�ny Nme �;�a�?+:`"
<br /> j become locatsd In an area deslynated by the Director of th�F'ederal Emerqency Manepement Apenay as n speclel Nood hazard aree,Trustor '"LL�—
<br /> f opreas to obtaln and maintaln F�deral Flood Insur�ncs fa tFN tuN unpald prindPal balance ot the loan,up to the mexfmum pdby limits sat .;r�``
<br /> under the National Flood Insuranca Proprnm,a as atMrwls�requlred by Lender,and to malntaln auch Insuranca fa th�term of tlw Iotn.
<br /> � Appl��tlon of ProcNds. Trustor ehall promptly notly LAnder of any losa a damaye to ths Property. Lender may rnaks proof of loss If Trusta
<br /> A Itlis to do so wllhin 8ftoen(16)days of the casualty. Whether or not Lmders security Is Impalrad,Lendar may,nt Its elecllon,rec�lve and�U�� -
<br /> • � the procoeds of any Insurance and apply lF»proceads to Ine rodua„e p`���gd���t�t n and repalrB,nTrustw shall 9epal Por�rspiace 1ha ",
<br /> � r9stontlon and ropalr of tha Property. If Lender eiecta to apply �•�
<br /> dartuped or desttoyed Improvortwnts In a inanner satisfaclory to Lender. Lender shall, upon satisfoctory proof a}nuch expsndituri, pny or
<br /> � reimGurse Trustw hom the prxeods fa lha reasonable cost ol repalr or restoralion If Trustor Is not In dofault under this Deed of Trust. Any . _
<br /> ;, � proc�eds whbh have not be�n disbur5ed withln 180 days�Her ihair recolpt and which Lender has not commiHed to the repalr or restaaflon of �,.!:,
<br /> the Property shall be used flrst to pay any emount owing to Lender under thls Deed of Trust,then to pay accrued Interest,and ihs remainder,If
<br /> any,shell be applled to lhe principal balance of the Indebtedness. If Lender holds any proceeds affer payment In tull of the Indebladnoss�such '
<br /> � � , prxeuds shail be pald to Trusbr as Trustor's Interests mayappear. ���«
<br /> U n e x p i r e d I n a u r a n c e a t S a i e. A n y u n e x p l r e d I n s ur ance shall Inure to the beneAt of,and pass to,the purchaser of Ihe Property covend by thls L _
<br /> , Deed of Trust at any trustee's sale or other sale held under Ihe provislons of lhis Deed of Trusl,a a t any fwec los u re s a l e o f s u q h P ro p e r i y. �
<br /> �. EXPENOITUFiE6 BY LEN9ER. I(Trustor(alls to comply with any proNslon of this Deed of Trust,or if any action a prxeediny Is communced that
<br /> would materially aHect Lender's Interesta In tha Propc�rty,Lender on Trustors bohalt may,but shall not be requlred to,lak�any acflon tlut Land�r
<br /> deems approprinte. Any amount that Lender expends In so dolnq will bear Interest at ihe rate provlded fOr In the Noie h�b�be dded to the balana —
<br /> .�� by Lender to the date ot repayment by Trustor. All such expenses,at Lender's option,will (a)be payable on dsmand,
<br /> of the Nole and be epportloned amonp and be payabb with eny installment p�yments to becom�dus durinp ellher (I)fha term of any�ppllGtbM
<br /> Insurana poiloy or (II)the ramalnlnp term of Iho Note,or (a)be treated as a bolioon payment wh�h wIA De dus�nd pty�bb at the Noto'a maturily.
<br /> — T}da D�3 of Trusi s»a•:::��us$CeYm""�^�these amounts. rne riphts Orovlded tor in this p4raqraph shall be in addillan to any other rtphts or�ny
<br /> remedies to wh�h Lender may be entlfied on�ccount ot the deltult. Any auch�odon by Lender snsii noi be consirueJ:y uurir�iha ristau::�s�`!Q
<br /> K bar Lender hom any remedy thet It otherwise would have had.
<br /> � WARRANTY;DEFEHSE OF TITLE. The following pravislons relatfnq to ownershlp ol lhe Property are a part of this Dead of Trust.
<br /> TIIN. Trustor wertants that: (a)Trustor holds pood and ma►ketnble lllle of recad to the Properiy In(ee slmpls,he�and cisar of aA H�ns and
<br /> � tavut ofren�d�a�CCepted byt L �In oonneC On with th S Deed Of Trpst and (bj Tr stor has lhe uill�rylpht�poer,�a�d aulthority lo Isx�CUt�Itnd
<br /> deli��er this Deed of Trust to Lender.
<br /> Defense of Tille. SubJect to lhe exception�n the pereflraph above,Trusta wananis end wlll forevsr defend the 11He to tM Proparty�qaInst ttw
<br /> ��; iawtul clalms ot all persorts. In the event any aCtion or proCeedlnp Is CommenCed that qwsHOrts Trustor'a Ilile or lhe IntsrYSt ot 7rustee or �F_
<br /> Lender under thls Deed of Trust,Trustor shell defend the�ction at Trustor�expense. Trustor may be the nomin4l party in auch procNdlnq,but
<br /> � l.ender shall be entitled to participate In tho prxeediny�nd to be represanted in tlw prxeedinp by counsN of Londw's own cholCS,lnd
<br /> � Trustor wlll deliver,or cause to be delivered,to Lender such Instruments�s Lender mey request hom tlme to tima to pxmlt auch p�rt�Ipallon.
<br /> „�. Compll�ncs Wlth Lawa. Trustor w�rt4nts that 11w Property and Trustor's use ot the Properly complles with aN existinp oppllcabN lawa,
<br /> � adinances,and repulallons of qovernmental authorltles.
<br /> CONDEIANATION. The following provlslons relatinp to Condemnatlon proceadlnps ere a part of thls Deed of Trust.
<br /> � AppUcatiun of Het Proceeds. If all or any part of the Properry Is condemned by eminent domaln proceedlnps or by sny proCMdlny a
<br /> purchase In Ileu of condemnatlon,Lender may at Its electlon requlre that all or any portlon of lhe net proCeeds of the awtrd b�app�d to Ihe
<br /> � Indebtadness or the repalr or restorelion of the Property.1'he net proCe�ds of the award shall mean the award atter pay�►isrtt of all rNSOnabt� _
<br /> - costs,expenses,and nttarneys'teas Incurred by Trustee a Lender In conneotion wlth the Condemnatlon.
<br /> • � p�oCeedinps. If eny proceeding In condemnaQon Is flied,Yrustor shall promplly noti(y Lender In wdtinp,and Trusta shtu prompfly tak�auch ______
<br />' � steps as may be necessary to detond the actlon and obteln tho award. Trusta may be the nomintl peAy In suah prxeodinp,but L�ndar shall
<br />_. � � be entltled to particlpate In lhe proceeding and to be represented In the proCeedinp by counsel of Its own choiCe,and Trustc�wIN dellver or
<br /> causo to be delivered to Lender such Instrumonts as may be requested by It from timo ta tirt»to permit suCh pnrtklpadon.
<br /> � � IMPOSITION OF TAXES,FEES AND CHARGES BY GOVHRNMENTAL AUTFfORITtES. The 1Gltowlny provislons rolatlny to gowrmrwntal taxos,
<br /> ' � fees and charpes ere a part of this Deed ot Trust; —�°-
<br /> • + c.�s.
<br /> 1 Current T�xes,Fees sr►d Chsrpes. Upon request by Lender,Truslor sha11 execute such documonts In additlon lo Ihis Deed of Trust and take }:,��Y Y
<br /> � whatever other actlon Is requesled by Lender to pedect and continue Lender's Ilen on the Real Property. Trustor shail relmbursa Lender ta aH �s.,-��`=�'�
<br /> texes, as descdbed below,together with all expenses Incurred In recadinp,pedecUnp or ConNnulnq this Deod ot Trust, Includinp wlihout � _,
<br />_ � Ifmitation ell taxes,fees,documentary stamps,and olher charyes for recordlnq or repisterfnq this Deed of Trust `�_ _
<br /> � Tax�s. The followlny SheA conslltute taxes to whlch thls sectlon appltes: (a)a speclNc tax upon thls lype of Deed ot Trust or ltpon all or any
<br /> part oi Ihe Indebtedness secured by thls Deod of Trusl; (b)e speciflc 1ex on Trustor whlch Trustor is authoriied a requlred to deduct hom
<br /> theYhotder�of thelNote!and 5(d1 a specihctlex oneai�if or�ny�porll�on�otCthet deb ednesseorton payments1of p 4cflpall andl nterestLmade by
<br /> Trustor.
<br /> � Subsequent Taxea. H any tax lo which thlS sectlon applles Is enacted 3ubsequen4lo the date of this Dsed ot Trust,thls event shall have the
<br /> same oHect as an Event of Default(as detined below),end Lender may exercise any or all of Its avallable remedles(or an Hvent of Default as
<br /> provided below uNess Trustor elther (a)puys the tex belore it becomes delinquent,or (b)contests tho tax as provided ebove In the Taxes and
<br /> ; Llons sectlon end deposits with Lender cash or a sufficlenl corpora�e surely bond or other security satisfaclory to Lender,
<br />_ ! SFCURITY AGREEMENT:FiNANCING STATEMENTS. The lollowinp provlslons relatlnp to thls Deed ot Trusi as a security aqreement are n part of
<br /> i lhls Deed of TrusL
<br /> Security AprRement. Thls Instrumonl shall conslfluta n securily egreemenl to the extent any of iho Properiy constitutes fixSUres or other
<br /> � ; personel property,end Lender shall hevo all ot the righls of a socured part/under the Unitorm Commerclai Code as amended Irom Iirt�e to
<br /> ' timA.
<br /> Securfty Interest. Upon roquosl by Lender,Truslor shnll oxocuto linanCing s�etements end take whntever othor aC��on Is roquested by Lender
<br /> lo perlecl end continuo Londer's seCUrdy interest In ihe Renls nnd Pe�sonal Property. In addilion lo�ecording thls Deed ot TruSi In lhe refll
<br /> proporty records,Lender mny,at any Iime end wHhoul lurfher aulhorizeUon Irom Trustor,tile exeCUted counterFarts,coples or reproduCtions of
<br /> thls Deed of Trust ns e financlnp statement. Trustor shell relmburse Lendor for all expenses Incuiiud In perfxting a contlnulny this security
<br /> interost. Upon defauli,Trustor shall assemble lhe Personal Property in a manne;and at e place reasonably convenlenl lo Trustor and Lender
<br /> and make it nvallable to Lender wflhin Ihree(3)deys atlor recelpt of wriflen demand from Lender.
<br /> • g anted by Ihis Deed of Trustdmay be oblaln d(CUCh tct51requfred by theSUnffor Comme�clal COde)na�e asiistated onelhe I��irsl pago of'thls Deed
<br />— of Trust.
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