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201403958
<br /> DEED OF TRUST
<br /> Loan Na: 872059677 (Continued) Page 3
<br /> Trust.
<br /> Maintenance of ]nsurance. Trustor shall procure and maintain policies of fire insurance with standard extended
<br /> coverage endossements on a rep[acement hasis for tha ful] insurable value covering all ]mprovements on the Real
<br /> Property in an amaunt sufficient to avoid application of any coinsurance clause, and witE� a standard mortgagee
<br /> clause in favor of Lender, together with such oTher hazard and [iability insurance as Lender may reasonably require.
<br /> Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a
<br /> company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, wilf deiiver to Lender
<br /> frosn time to time the po[icies or certificates of insurance in form satisfactory to Lender, ineluding stipuEations thaT
<br /> coverages will not be eaneelled or diminished without at [east ten (10} days prior written notice to Lender. Each
<br /> insuranca policy afso shall include an endorsement Providing that coverage in favor of Lender will not be impaired
<br /> in any way by any act, omission or default of Trustor or any other person. Shou[d the Real Property be located in
<br /> an area designated by the Administrator of the Federel Emergency Management Agency as a special f]ood hazard
<br /> area, Trustor agrees to obtain and maintain Federal Flood lnsurance, if a�ailable, for the maximum amount of
<br /> Borrower's credit ]ine and the fufl unpaid principal balance of any prior liens on the properry securing the loar�, up
<br /> to the maximum policy limits set under the National Flood lnsurance Program, or as otherwise required by Lender,
<br /> and to maintain such insurance for the term af the loan.
<br /> AppEication of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property. Lender may
<br /> make proof of [oss if Trustor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's
<br /> security is impaired, Lender may, at Lendar's election, receive ar�d retain The proceeds of any insurance and apply
<br /> the proceeds to the reduction of the Indebtednass, payment of any lien affecting the Property, or the restoration
<br /> and repair of the Property. If Lender alects to appEy the proceeds to restoration and repair, Trustor shall repair or
<br /> replace the damaged or destroyed [mprovements in a manner satis�actory to Lender. Lender sha[I, upon
<br /> satisfactory Aroof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost of
<br /> repair or restoration if Trustor is not in default under tf�is Deed of Trust. Any proceeds which have not been
<br /> disbursed within 180 days after their receipt anc[ which Lender has not committed to the repair or restoration of
<br /> the Proper�y shall be used first to pay any amount awing to Lender under this I]eed of Trust, then to pay accrued
<br /> interest, and the remainder, if any, shall be applied To the principa[ balance of the Indebtedness. Ef Lender holds
<br /> any proceeds after payment in full of the Indebtedness, suc€� praceeds shali be paid to Trustor as Trustor's
<br /> interests may appear.
<br /> Compliance with Existing [ntiebtedness. During the period in which any Existing Indebtedness described below is
<br /> in effect, compliance with the insurance provisians contained in the 9nstrumenT evidencing such Existing
<br /> ]ndebtedness shall constit,rte compliance with the insurance prov€sions under this Deed of Trust, to the extent
<br /> compliance with the terms of this Deed of Trust woulc[ eonstitute a duplication of insura�ce requirement. If any
<br /> proceeds from the insurance became payable on loss, the provisions in this Deed of 7rust for division of proceeds
<br /> shall apply only to thaf portion of ihe proceeds not payable to the holder of the Existing ]ndebtedness.
<br /> LE111DER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of al] taxes, iiens, security interests,
<br /> encumbrances, and other claims, {B) to provide any requ'sred insurance on the Property, (C) to make repairs to the
<br /> Property or To comply with any obligation to maintain F�cisting lndebtedness in goad standing as required below, then
<br /> Lender may do so. If any action or procaeding is commenced that would materially a#fect Lender's interests in the
<br /> Property, then Lender on Trustor's behalf may, but is not required to, take any action thai Lender believes Yo be
<br /> appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes wiil then bear
<br /> interest at the rate charged under the Credit Agreement from the date incurred or paid by Lender to the date of
<br /> repayment by l"rustor. All such expenses will become a part of the Indebtedness and, at Lender's aption, will {A) be
<br /> paya6le on demand; {g] be added to the belance of the Credit Agreement and be apportioned among and be payable
<br /> w'sth any installment paymanTs to become due during either f1} the term of any applicable insurance policy; or ;2} the
<br /> remaining term of the Credit Agreement; or {C) be treaTed as a ba]loon payment which will be due and payable at the
<br /> Credit Agreement's maturity. The Deed of Trust also will secure payment of these amounts. �he rights provided for in
<br /> this paragraph shall be in addition to any other righYs or any remedies to which Lender may be entitled on account ofi
<br /> any default. Any such action by Lender shall nat bs construed as curing the default so as to bar Lender from any
<br /> remedy that it oiherwise would have had.
<br /> WARRANTY; DEFENS�OF 7E7LE. The fo]lowing provisions relating to ownership of the Property are a part o#this Deed
<br /> af Trust:
<br /> Title. TrusEor warrants that: ia) Trustor holds good and marketab[e tit[e of record to the Property in fiee simple,
<br /> free and clear of all liens a�d encumbrances other than those set forth in the Real Property description or in The
<br /> Existing lndebtedness section below or in any title insurance poficy, title report, or finaE title opinion issued in favor
<br /> of, and accepted by, Lender in connection with this Deed of Trust, and [b) Trustor has the ful[ right, power, and
<br /> authority to execute arsd deli�er this Deed of Trust to Lender.
<br /> Defense of Title. Subject to the exception in the paragraph abo�e, Trustor warrants and will forever defend the
<br /> title to the Properry against the lawful clairr:s of alt persons. 1n the e�ent any action or proceeding is commenced
<br /> that questions Trustor's title or the interest of Trustee or Lender under this �eed of Trust, Tsustor sha[I defienc[the
<br /> action at Trustor's expense. Trustor may be the nomina] par€y in such proceeding, but Lender shall be entitled to
<br /> parkicipate in the proceedsng and to be represented in the proceeding by counse[ of Lender's own choice, and
<br /> Trustor wifl deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to iime
<br /> tq permit suCh parCiCipation.
<br /> Comp[iance With Laws. Trustor warrants Yhat the Proper€y and Trustor's use of the Properry complies with a[I
<br /> existing applicab]e laws, ordinances, and regulations of governmental authorities_
<br /> Survival ofi Promises_ AI[ promises, agreements, and statements Trustor has made in this Qeed of Trust shall
<br /> survive the execution and delivery of this Deed of Tsust, shall be continuing in natvre and shall remain in fuEl force
<br /> and effect until such time as Borrower's Inde6tadness is paid in fuEl.
<br /> EXESTING Il1[�EB"fE�NESS. The#ollowing prq�isions concerning Existing Indebtedness are a part of tf�is �eed of�rust:
<br /> Existing Lien. The ]ien of this Deed of Trust sec�sring the Indebtedness may be secondary and inferior to an
<br /> existing lien_ Trustor expressly covenants and agrees to pay, or see to the payment of, the �xis#ing Indebtedness
<br /> and to prevent any default on such indsbtedness, any default under the instruments evidencing such indebtedness,
<br /> or any default under any security documants for such indebtedness.
<br /> No Madifica#ion. Trustar shall noC enter into any agreement with the halder of any mortgage, deed af trust, or
<br /> other security agraement whsch has priority over this Deed of Trust by which that agreement is modifiiec[,
<br /> amended, extended, or renewed without t[�e prior written cansent of Lender. Trustor shall neither reGuest nor
<br /> aCcept any future advances under any such security agreement wiYhout the prior written consent of Lender.
<br /> CONDEMNATiON. The foFlowing pro�isions relating to �ondemnation proceedings are a part of this �eed of Trust:
<br /> Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and
<br /> Trustor sha€I promptly take such steps as may 6e necessary to defend the action and obtain the award. Trustor
<br /> may be the nominal party in such proceeding, but Lender shall 6e entitled to participate in the proceeding and to be
<br /> represented in the proceeding hy counsel of its own choice, and Trustor will deliver or cause to be delivered to
<br /> � Lender such instruments and documsntation as may be requested by Lender from time to time to permit such
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