201403674 - Laserfiche WebLink

Browse

��14�3�74 �3EE�3 �F TRU�T ' Pa e 4 L��n IV�: ��77�� ont�nue g Camplian�e with Existing Ind�b�edness. ❑uring �he per�ad in which any Existing Indebtedness d�scri�ed be�ow is in e��ec�, compliance with fh� insurance pr�visians contained in �he ins�rument e�iden�ing such Existing [ndebtedness shall �onstitute compliance with the insurance provisians under this Deed of Trust, �o the extent compliance with the terms of this D��d af Trust would cons�itute a duplica�ion of insurance requir�ment. 1� any pr.�ceeds frQm th� insurance become payable an ivss, the prvWisions in this �eed ❑f Trust�vr di�isifln of proceeds shail apply only��that portEon o�the proceeds not payab[e to�h�holder afi�he Existing lndeb�edness. Trus�or's Rep�r�on Insuran�e. �p�n rsques�o� Lender, however not more �han an�e a y�ar, Trus��r shali furnish �o Lender a report on each existing pa[icy of insurance showing: �1 y the name ❑f the insurer; ��y the risks insured; �3} the amaun� o'� �he policy; �4} �he pr�p�rty insured, th� �hen current replacement �alue of su�h property, and th� manner of det�rmining that vaEue; and {5} the expiration date af�he poEicy. Trustor shall, upvn request nf Lender, have an in�ependent appraiser satisfa�tory to Lender determ�ne th� cash�alue replacement c�st of the Prvper�y. LENL7ER'S EXPENDITURES. If any action vr pr�ceeding is commenced that w�uEd materially affect Lender's in�erest in the Praperty or i#Trustor fai�s to �omply wi�h any pravision ❑f this Deed of Trust or any Re�ated Documents. including but nat �irnited to Trus�or's failure �o comply wi�h any obligatian to maintain Existing Inde�tedn�ss in good standin� as re�uired b�low, or t�discharge or pay when due any amounts Trustor is r��uired ta dis�harge ar pay under�his Deed o� Trust or any Related Dacumen�s, Lender on Trustar's �ehalf may �but shai� no� be vbligat�d ta} take any ac��on that Lender deems apprvpria�e, including but not iimi�ed to dischar�ing or paying all taxes, liens. security int�rests, encumbrances and other claims, at any �ime le�ied �r placed an �he Property and paying all C�5�5 �or insuring, maintaining and preser�ing the Property. �fl such expendi�ures incurred ❑r paid b�r Lender for su�h purposes wil! then �ear interest at th� ra�e charged under th� Note frvm �he dat� incurre� or paid by Lender to the �ate of repayment by Trus�or. All su�h expenses will b�c�me a parfi �f �he Indsbtedness and, a� L�nder's apti�n, will �A� be payahl� on demand, {B� �e added fa the balance �� the Note and be app�rtioned amvng and be payab�e with any installment payments to hecome due during either ��} the terrn of any app[icabl� insurance pali�y; or �2� the remaining t�rm o�F th� fVote; or ��} be fireated as a bal[oan payment vuhich wi�l b� du� and payable at th� iVate's ma�urity. The Deed vf Trust also will se�ure payment �f these amaunts. Such right shall be in additi�n �o a�l other righ�s and remedies to which Lender may be ent��led upon D�fault. 1NARRANTY; DEFENSE�F T�TLE. The following pro�isions rela�ing tv ownership vf the Praperty are a part of this Deed of Trust: Title. Trustor warrants that: �a} Trustor h�lds g�od and marlcetable �itle of recard �k� the Proper�y in fee simple, fre� and clear vf all liens and encumbrances �ther than those se� forth in the Rea� Property description or in the Existin� Indeb�edness section belaw or in any t�file insurance pvl�cy, title r�pvrt, or final �ifile opinian issued �n fia�or �f, and a�cepted �y. Lender in �annectian with �his Deed o�Trust, and {b} Trustvr has the full right, p�wer, and authority to exe�ute and deliWer this aeed of Trust�o Lender. Defense af Tifile. Subject ta �he ex��p�ion in the paragraph abo�e, Trustar warran�s and wil[ �arever defend �he titie t� the Property against'�he lawful �laims ofi all persons. 1n the event any action or proceeding is c4mmenced that questions Trustar's�itle Qr the �nterest o�Trus�ee or Lender under this Deed o�F Trus�, Trustor sha[� d�fend the acti�n afi Trustor's expens�. Trust�r may he the nominai party in such pr�ceeding� but Lender shall be en�itlsd to particEpate �n the proceeding and to be r�present�d in the proceeding by Cvunsel a� Lender's awn chaice, and Trustar wi[� deliWer, or cause to be del��ered� �o Lender such ins�ruments as L�nder may request�rom time to tim� to p�rrni�su�h participation. �n�nplian�e Vllith Laws. Trustor warrants that �h� Proper�y and Trustor's us:e o� fihe PrQp�rty. �amp�ies:wi.th all - . exis�ing appiicable Iaws, ordinances, and regula�ions af go�ernmen�al auth�rities. -� 5ur�ival of Represen�atior�s and Warranties. A[l representations, warrant�es, and agreements made by Trustor in this Deed of Trust shal! sur�i��the execution and deliWery of th�s Deed of Trust, shal� be continuing in nafiur�, and �hall remain in�ull farce and effec�unt�l such time as Trus�or's Indeb�edness shal� be paid in full. - EXISTIN�lNDEBTEDNESS. Th�follvwing pro�isions concerning Existing Indebtedness are a part o�this Deed of Trust: Existing Lien. Th� lien o� this Deed af Trust se�uring the lndebtedness may bs secondary and in�erior t� an exis�ing �iene Trustor�xpressly co�enants and agrees to pay, or see to the payment of, the Existing Inde�tedn�ss and t� pre�ent any de�ault on such indeb�edness, any default under the instrumenfs e�idencing such indebte�nessr �r any defaulfi under any security dacuments fiar such inde�tedness. Nv illl�di�i�ation. Trustor shafl not ente� inta any agreemen�t with the halder of any martgage, deed ❑� �rust, or a�h�r s�curity agreemen� which has priari�y ��er this Deed of Trust by which �hat agreemen� is modified. amend�d, extended, or renewed v►rithvu� �he pri�r writt�n cansent ot Lender. Trustor sha�l neither requ�st n�r accept any�uture ad�ances under any such security agre�ment with�ut the prior writ�en consent o�Lender. C�N�E11J[NATlDN. The fo[lowing pro�isions relating to condemnation proceedin�s are a part af�his Deed vf Trust: Proceedings. !� any pro�eeding in condemnatian is filed. Trus�or shal� promptly no�tify Lender in writing, and Trustor shal! promptEy take such steps as may be nec�ssary t� def�nd the action and vbtain �he award. Trusfar may b�the nominal party in such proce�ding� bu��Lender sha�i be entitled tn participa�e in the praceeding and to be r�presen�ed in the pro�eedin� by counse� o� its own choice, and Trustor will deliWer ar cause to be deli�ered �a L�nd�r such instrum�nts and dacumsntation as ma�y be requested by Lender �rom time to t�m� to permit such