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� ��14��51�
<br /> DEE� �F T�UST
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<br /> Loa� iVo; �7����57 3 �rttinu�d� Pa�e 3
<br /> other lier� cou[d �e ass�rted on accoun� of the wvrk, ser�ices, or �nat�ria�s. Trustor �nrQ[[ upvn request vf Lender
<br /> �urnish �� �ender ad�ance assuran�es satisfactory �o Lender �hat T�-ustor can and wi[[ pay the cost of such
<br /> impro�ements.
<br /> Pd��PE�TY DAfIlIAGE INSUF�ANCE, The following pro�isions reiating to insuring �he Proper�ty are a part o�this ❑�ed o�
<br /> Trust.
<br /> [4liain�enance af lrasurance. Trustor shall procure and maintain po�icies of fire insurance �vith s�andard ex�ended
<br /> co�era�e endorsements on a r-eplacemen� basis �or the full insurab[e�afue covering a[I [mpro�ements on the Real
<br /> Praperty in an amaunt sufficien�k tv a�oid appiicativn o-� any coinsurance clause, and viri-�h a st�ndard mor�gagee
<br /> c�ause in fa�or o�Lender,�og�fiher with su�h other hazard and Iiability insurance as Lender may reasonah�y requi�-e.
<br /> Pa�ici�s shaf[ be written in �vrm, amounts, coverages and basis reasonably acceptable to Lender and issued by a
<br /> company or c�mpanies reasonab[y acc�ptab[e t� Lender. Trustor, upon request of Lend�r, wit! de['rv�r to Lender
<br /> from time�o fime the po��cies or cer-�ificates o��nsu�ance in€orm satis�actary to Lender, �nc�uding stipula�ions that
<br /> c�verages w��f nofi be �anGel�ed or diminished w�thaut a�Ieast ten ��4} days pri�r w�-itten no�ice�t� Lender: Each
<br /> �nsurance p���cy also sha[[ inalude an endorsement pra�iding that co�erage in fa�or o�f Lender wi[f not be Empaired.
<br /> in any way by any act, vmissian or defau[t of Trus�or or any o�her person. 5h�uld the Real Pr�per�y be�oca�ed in
<br /> an area designa�ed by the Dire�tor�vf�he Fed�ral Eme�gency Management Agency as a special fi[ood ha�ard area,
<br /> Trus�or agrees to obtain and main�ain Federal Flaod �nsuranc�; ifi aWaifable, for fihe maximum amount of Borrolrver's
<br /> cred�� [ine and the fu[[ unpaid principa[ balance o� any prior liens on the prflperty securing �he loan, up to the
<br /> maximum policy[Imifis set under�he Nationa� Ffood fnsurance Program, ar as otherv�rise �equired by Lender, and to
<br /> main�ain su�h insurance for the term of�he loan.
<br /> Appiication vf Proceeds. Trus�or sha[[ prompt�y noti�y Lender of any ��ss or damage to the Praperty. Lender m�y
<br /> make praa� of loss ifi Trustor fai[s �v do so vvithin fifteen ��5� days of the casua�ty. Whe-�her or not Lender's
<br /> security.is �mpaired, Lender may, a� Lender's eiec�tivn; receive and re�ain �he proceeds o�any insurance and app[y
<br /> the procseds ta �he reduction �-�the lndebtedness, payment ❑f any [ien affecting fihe Praperryr flr the restoration
<br /> and repair of�he Property. If Lender�Iects to app[y the prv�eeds to res��rafiion �nd repairr Trustor sha[� �-epair vr
<br /> rep[ace th� damaged or destrayed lmprovemen�s in a mann�r sa�is�actory to Lende�. Lender shall, up�n
<br /> sa�isfac�ory proa� of such expendi�ure, pay or reimburse �rustor -�rom the proceeds �or the reasonable cast o�f
<br /> repair �r restoration if Trust�r is not in default under this Deed o� Trust. Any proce�ds which ha�e no� �een
<br /> disbursed within �S� days after their rece�pt and which Lender has nofi �ornmi-��ed to �he repai�r or restora�ion v€
<br /> the Praperty shai[ be used first to pay any amounfi pw`rng tp Lender under this Deed of Trust, then to pay accru�d
<br /> interest, and the remainder, �� any, sha�! he applied to the pr�ncipaC balance of the Indeb�edness. 1-� Lender hofds
<br /> any proeeeds afiter payment in full of the �nde�tedness, such proce�ds shail be paid to Trustar as Trustor's
<br /> infierests may appear.
<br /> LIENDER'S E�PEND[TURES. [f Trustor fiails {A� �o keep the Proper�ty ��ee of a[� taxes, �iens, securi�ty interests,
<br /> encumbrances; and other claims, �B} -�o prv�Ede any required insurance on the Proper-t�, ar {C} to make repairs�v�he
<br /> Property th�n Lender may do so. Ef any act�on or pr�ceeding is commen�ed that would materia�€y affec� Lender's
<br /> interesfis in the Proper-ry, �hen Lender on Trus�or`s beha[f �nay, but is not required ta, �ake any action tha� Lend`er
<br /> he[ie�es to be appropria�e to pro�ect Lender's interests. A[[ �xpenses incurred �r paid�y Lender for such purpases will
<br /> then bear �n�eres�at the ra�e charg�d under the Credit Agreer�en����rxa �he da�e incurred ar paid by L�r�der tfl the da�e
<br /> of repaymen� hy Trustor. A[[ su�h expenses wi�� becorr�e a par� �f�he lnde:b�edness and, a� Lend�r`s opfiion, will �A�
<br /> be payab[e on demand; 4B} �e adcied to the balanee o� -��� Cr�dit Agreement and be a�porti�ned among and be
<br /> payable with any insfallmen� paymen�s fia be�ame due during either ��} the�erm vf any applicab[e insurance policy; or
<br /> f�� the remaining term�f�he Credi�Agreement; or �C} b�trea�ked as a ballvvn payment which will be due and payable
<br /> a�the Credit Agreemen�'s maturity, The Deed o�Trust also will secure paymen�of these amounts. The rights pro�ided
<br /> fo�in this paragraph sha�� be En add�tion to any other rights or any remedies to which Lender may be enti�led on accaunt
<br /> o€ any default. Any such action by Lender sF�all nat be construed as cu�-ing the defau[t sa as to bar Lsnder �rom any
<br /> remedy tha�i�ofherwise would ha�e had.
<br /> ��e�RANTY; ❑EFEIVSE�F T�TLE. The f�l[vwing p�-o�isions re�ating�to ownership of the Praperty are a pare of this D�ed
<br /> af Trust;
<br /> YgtI�. �f�us�or warrants �hat: {a} Trustor ho[ds g�od and rnarketable t�tle vfi recv�-d �o the Properky in �ee simple,
<br /> fre� and c�ear af a[[ �iens and encumbrances other than�hose set ��rth in �he F�eal �'roperty d�scrip�ion or in any
<br /> �i�le insurance po[d�y, �it�e repvrt, or �ina[ ti�t�e �pin��n �ssued in fa�r�r o�F, and accep�ed by, Lender in connecfiion
<br /> wi�h this D��d o�F�rus�, �nd �b� Trustor has�he fuli righfi, �o���r, and authority�o execute and de�i�er this Deed of
<br /> Trust ta Le nd er.
<br /> 1De�ense o#T��le. Subjec��o the exception in the p�ragraph abo�er Trustor �rva�rants and wifl -�flre�er de�end th�
<br /> ti�le to the P�oper�y aga�nsfi th� Caw�ul claims of all persons. �n the event any action o�-proceeding is c�mmenced
<br /> tha�questions Trustor's tit1�or�he interest of Trus�ee �r L�nder und�r this Deed o�T�us�,Trustor shall de��nd the
<br /> ac��on at Trus�or's expense. Trustor may be the nominaI par-�y in such p�-oceeding, but Lender shall be e.nti�led fia
<br /> parti�ipate �n the proceeding and to be represented �n the proceed�ng �y counsel of Lender's o�nrn chvice, and
<br /> Trustor will dei��er, or cause to be delivered, to Lender such inst�ruments as Lende€-may reques�from time�o time
<br /> tv permit such participa�ion.
<br /> Gorriplian�e Vllith Laws. `frus�or warrants tha� th� Praperty and Trus�or's use of �he Praperty complies with a�l
<br /> e�cisting app[i�ab[�1aws, ordinances, and regulations v��vvernrnen�al authorities.
<br /> �urviva� of Prvanises� A11 p�-amises, agreements, anc� sta�ernents Trustor has made �n this L7eed o� Trus� shall
<br /> surviWe�he �x�cuti�n and deli�ery of this �]eed o��rus�,shall be cor��inuing in na�ur� and sha11 r�main ir���11 ��rce
<br /> and�f�ec�t un�il suc�time as Bvrrower°s �ndebtedness is paid in�u�l.
<br /> C��I[DEMiVATIDN. The��[[awing provisions relating ta condemnation proceed�ngs are a parfi of thEs Deed vf Trust:
<br /> Pro�eedings. �f any proceed.ing �n condemnation is ��.�ed, Trustor sha[[ prompt�y no�i�y Lender �n wri-ting, and
<br /> Trustor shall prompt�y take suGh steps as may be necessary to de�end th� action and obtain the award, Trustvr
<br /> may be the nomina� par�ty in such proceeding� E�ut Lender sha[[ be entitfed to partic�pate in the proceeding and ta be
<br /> represented in the proceeding by caunse[ o� rts vvvn choice, and Trustv� will deliver or cause �v be de���ered to
<br /> Lender such ins�ruments and documenta�kion as may be requ�st�d by Lender from time tv time �o permit such
<br /> participatian.
<br /> App�ca��nn �f N�#Pro�eeds. I�all or any part o�the �'raperty as condemned by err�inent dorr�ain proceedings �r by
<br /> any proceeding or purchase in �ieu ot conderrtnation, Ler�der ma�y at its ele�tion require that all or any porkion of�he
<br /> net �roceeds of the award be applied �o the Indeb�edr�ess or �he repair or restvra�fon o� �the �r�perty. The net
<br /> proceeds a��he award shal� rr�ean �he av►rard ��er paymer��o�a[[ reasvnable cvsts, ��cpenses, and att�rneys4 �ee;s
<br /> in�urred by Trustee ar Lender in connecti�n w�th the�or�dea�nna�ion,
<br /> l�ll[P�SlTI�N �F�d'A�CES, FEES AillD CHI�F��ES 6Y G�Il�RN�E�1lTAL AUTHQFilTiES. The fv[lowing pr��isions relafiin�
<br /> to go�ernmentai fa�ces,fees and charges are a part o�this ❑eed v�F Trus�:
<br /> Cur�ent Taxes, Fees and Charges. Upon request by Lender, Trustvr sha�l execute such documents in addition �o
<br /> this Deed fl�Trus�and take wha�eWer other action is requested by Lender to perfect and con-�inue Lender's lien on
<br /> the Reat Property. Trustor shal� re�mburse Lender for a!! �axes, as described be:low, tagether v�ri�h all �xpenses
<br /> incurred in r�cording, per�ec�ing or eon�inuing this aeed of Trust, inciuding vtirithout limita�ion a[� �axes, �ees,
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