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201400517
<br /> DE�D �F TRUST
<br /> Loan No: 872fl59459 {Contint�ed] Page 3
<br /> in any way by any act, omission or default of Trustor ar any other person. Shou[d the Real Prp�erty be located in
<br /> an area designated by the Director ofi the Federal Emergency Management Agency as a special flood hazard area,
<br /> 7rustor agrees to obtain and ma�ntain Federal Flood Insurance, if available, for the maximum amount of Trustor's
<br /> credit [ine and the full unpaid principal ba[ance of any prior liens on the property securing the loan, up to the
<br /> rrteximum policy [imits set under the National �[ood [nsurance Program, or as otherwise required by Lender, and to
<br /> maintain such insurance for the term of the loan.
<br /> Application of Proceeds. Trustor shall prorr:ptly notify Lender of any loss or damage ta the Property. Lender may
<br /> nza[ce proof of loss if Trustor fails to da so within fifteen (75) 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 /> tE�e proCeeds to the reduciion of the Irsdebtedness, paymeni of any lien af'fecting the Property, or the restoration
<br /> and repair of the Property_ If Lender elects to apply the proceeds to restoration and repair, 7rustor shall repair or
<br /> replace the damaged or destroyed Emprovemen#s in a manner satisfactory to Lender. Lender sha[I, upon
<br /> satisfactary proof of sucf� expend'sture, pay or reimburse Trustor from the psoceeds for the reasonable eost of
<br /> repair or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which have noi been
<br /> disbursed wlthin 180 days after their receipt and which Le�der has not committed to the repair or restoration of
<br /> the Property shafl be used first to pay any amount owing to Lender under this Deed of Trust, ihen to pay accrued
<br /> interest, and the remainder, if any, shal] be applied to the principal balance of the Indebtedness. If Lender holds
<br /> any proceeds a�F�ter payment in fu[I of the Indebtedness, such proceeds shafl be paid to Trustor as 7rustor's
<br /> interests may appear.
<br /> Comp]iance with Existing Indebtedness. During the period in which any Existing [ndebtedness described below is
<br /> in effect, compliance with the insurance pro�isians contained in the instrument e�idencing such Existing
<br /> ]ndebtedness shall constiEute compliance with the insurance provisions under this Deed of 7rust, to the extent
<br /> compli�nce with The terms of this Deed of Trust would Constitute a duplication of insurance requirement. If any
<br /> proceeds from the insurance become payabie on foss, the pravisions in this Deed of Trust fpr division of proceeds
<br /> sha€I appfy only to that partion of ths proceeds noi payable to the holder of the Existing Indebtedr�ess.
<br /> LENDEFt'S EXPENDITURES. lf Trustor fails iA} to keep the Property free of a11 taxes, liens, security interests,
<br /> encumbrances, and other claims, (B) to pro�ide any required insurance on the Property, (C} to make repairs to the
<br /> Property or to comply with any obligation to maintain Existing Inde6tedness in good standing as required below, then
<br /> Lender rnay da so. If any aetion or proceeding is commenced that would rrEaterially af�Fect Lender's interests in the
<br /> . Property, then Lender an Tsustor's beha[f may, but is not required to, take any action that Lender helieves to be
<br /> appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear
<br /> interesF at the rate charged under the Credi# Agreement from tha date incurred or paid by Lender to the date of
<br /> repayment by 7rus#or. All such expenses will become a part of the Indebtedness and, at Lender's option, wi][ fA] be
<br /> payable on demand; (B) be added ta the E�alance of the Credit Agreement and be apporEioned among and be payab[e
<br /> with any installrrsent�ayments to become due during either (1) the term of any applicable insurance policy, or f2) the
<br /> remaining term of the Credit Agreement; or (C} be treated as a bal[oon payment which wili be due and payabie at the
<br /> Credit Agreement'S rriaturity. The Deed of Trust aEso wiil seeure payrr�ent of these amounts. The rights provided for in
<br /> this paragraph shall be in addition to any other rights or any remedies to which Lender may he enYitled on account of
<br /> any default. Any such action by Lender shall not be construed as curing the default so as to bar Lender from any
<br /> remsdy that i't otherwise would have had.
<br /> WARRANTY; DEF�NSE�F TITLE. The following provisions relating to ownership of the Property are a part of this Deed
<br /> of Trust:
<br /> Title. 7rusior warrants that: (a} Trustor holds good and markeYabte tit[e af record to the Property in fee simple,
<br /> free and clear of al] liens and sncumbrances other than those set fortE� in the Real Property description or in the
<br /> 6cisting IndebTedness section below or in any title insurance policy, title report, or final title opinion issued in favar
<br /> of, and accepted by, Lenc[er in connection with this Deed of 7rust, and fb) Trustor has the full right, power, and
<br /> au#hority to execute and de[iver this Deed of Trust To Lender.
<br /> Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the
<br /> title to the Properry agair�st the ]awfu[ claims of all persons. In the event any action or proceeding is commenced
<br /> that questions Trustor's#itfe or the interest af Trustee or Lender under this Deed of Trust,Trustor shal] de'fend the
<br /> action at Trustor's expense. Trustor may be the nomi�al party in such proceeding, but Lender shali be entitfed to
<br /> participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choioe, and
<br /> Trustor wi[I deliver, or cause to be delivered, to Lender such instruments as Lender may requesT from time to time
<br /> to permit such participation.
<br /> Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property campEies with alt
<br /> existing applicable laws, ordinances, and regu[ations of governmenta[authorities.
<br /> Survival of Promises. All �romises, agraements, and statements Trustor has made in tf�is Deed of Trust shall
<br /> survive the execution and delivery of this Deed of Trust, shall be continuing in nature and shal] remain in ful] force
<br /> and ef-fect until such tirne as Trustor's Indebtedness is paid 'sn full.
<br /> EXIST[l�G INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of ihis Deed of Trust:
<br /> F�cisting Lien. The ]ien of this Deed of Trust securing the Indebtedness may be secorsdary and inferior to an
<br /> existing �ien. Trustor express[y covenants and agrees to pay, or see to the payment of, the Existing lndebtedness
<br /> and to prevent any default on such indebtednass, any default under the instruments e�idencing such indebtedness,
<br /> or any defau[t under any security documents for such indebtedness.
<br /> Na Modification. Trustor sha31 not enter into any agreement with the holder of any mortgage, deed of trust, or
<br /> other seourity agreement which has priqrity o�er this �eed of Tsust by which that agreement is modified,
<br /> arttended, extended, or renewed without the prior written cansent of Lender. Trustor shal[ neither request nor
<br /> accept a�y future advances under any such security agreement without the prior written consent of Lender.
<br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part o#this Deed of 7rust:
<br /> Proceedings. Efi any proceeding in condemnation is �iled, Trustor sha[I promptly notify Lender in writing, and
<br /> Trustor shall promptly ta[ce such steps as may be necessary to defend the action and obtain the award. Trustor
<br /> may be t[�e nominal party irs such proceeding, but Lender shalf be entitled to participate in the proceeding and ta be
<br /> represented in the proceeding by counse[ of its own choice, and Trustor wi11 de[iver or cause to 6e delivered to
<br /> Lender s�ch 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 af Yhe Froperry is condemned 6y amineni domain proceedir�gs or by
<br /> any proceeding or purchase in lieu of condemnation, Lender may aY its electian require that al] or any portion of the
<br /> net proceeds of the award be aPplied to the [ndebtedness or the repair or restaration of the Property. The net
<br /> proceeds of the award shall mean the award after payment of all reasonable costs, expenses, and atYorneys' fees
<br /> incurred by Trustee or Lender in connection with the condemnation.
<br /> IMPOSfT[ON O�TAXES, FEES ANC] CWARGES BY GOVERNMENTAL AUTHORITIES. The following provisians relating
<br /> to governmental taxes, fees and charges are a part of this Deed of Trust:
<br /> Corrent Taxes. Fees and Charges. Upon request by Lender, Trustor shall execute such docume�ts in addition ta
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