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201404008
<br /> DEED OF TRUST
<br /> Loan No; 872059669 �Continued) Page 3
<br /> in any way hy any act, omission or default of Trustor or any other person. Shau[d the Rea] Property be located in
<br /> an area designateci by the Administrator of the Federal Emergency Management Agency as a special fload hazard
<br /> area, Trustor agrees to obtain and maintain Federal Aoad ]nsurance, if available, for the maximum amount of
<br /> Trustor's credit line and the full unpaid princi�al ba[ance of any prior liens on the properYy securing the loan, up to
<br /> the maximurre policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and
<br /> to maintain such insurance for the term of the [oan.
<br /> Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Properry. Lender may
<br /> make proof of Eoss if Trustor fails to do so within fifteen i15) days of the casualty. Whether or not f�ender's
<br /> securi€y is impaired, �ender may, at Lender's election, recei�e and retain ihe proceeds of any insurance and apply
<br /> the proceeds to the reductian of tf�e Indebtedness, payment of any ]ien affecting the Property, or the restoration
<br /> and repair of the Property. If Lender elects to app[y the proceeds to restoration and repair, Trustor sha]E repair or
<br /> rep[ace the damaged or destroyed Empro�ements in a manner satisfactary to Lender. Lender shall, upon
<br /> satisfactory proof of such expenditure, pay or reimburse Trustor fram 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 6een
<br /> dishursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of
<br /> the Propertyr shal] be used first to pay any arnount owing to Lenc[er e�nder this Deed of Trust, then to pay accrued
<br /> interest, and the rerrtainder, if any, shall be appGed to the principa! balance of the I�sdebtedness. If Lender holds
<br /> any proceeds after payment in full flf the Inde6tedness, such proceeds shall t�e paid to Trustor as Trustor's
<br /> interests may appear.
<br /> Comp[iance with ExistRng Indebtedness. During the period in which any ExisTing Indehtedness described below is
<br /> in effect, compliance with the ins�rance provisions contained in the instrument evidencing such F�eisting
<br /> Inde�tedness shall constitute compEiance with the insurance prov9sions under this Deed of Trust, to the axtent
<br /> compfiance with the terms of this �eed af Trust would constitute a dup[icatian of insurance requirement. If any
<br /> proceeds from the insurance hecome payable on [oss,the provisions in this Deed of Trust for division of proceeds
<br /> shall apply only to that portian of tf�e proceeds not payable to t[�e holder of the Existing ]ndebtedness.
<br /> LENDER'S EXPENDITURES. If 7rustor fails (A) to ksep the Properry free of al] taxss, liens, security interests,
<br /> encumbrances, and other c[aims, {B} to provide any required insurance on the Property, (CI to rr�a[ce repairs to the
<br /> Property or to comply with any ob[igation to maintain Existing Indebtedness in good standing as required below, then
<br /> Lender may do so. If any action or proceeding is commenced that wou[d materia[ly affect Lender's interests in the
<br /> Property, then Lender on Trustor's behalf may, but is not required to, take any action that Lender believes io be
<br /> appropriate to protect Lender`s interests. All expenses incurred or paid by Lender for s�ch purposes wilf then bear
<br /> interest at the rate charged �nder the Credit Agreement from the date incurred or paid by Lender to tFie date of
<br /> repayment by Trustor. All such expenses will become a part of the [ndebtedness and, at Lender's option, wifl {A) be
<br /> payable on demand; (B} be added to The balance of the Credit Agreemant and be apportioned among and be payable
<br /> with any installment payrreents to became due during either (1] the term of any applicabls insurance policy; or {21 the
<br /> remaining term of tlne Credit Agreement; or [C1 be treated as a ba][oon payment which will be due and payabls ai the
<br /> Credit Agreement's maturity. The Deed af Trus#also wi[I sec�re payment of these amounts. The rights provided for in
<br /> this �aregraph shall Ese in addition to any other rights or any remedies to which Lender may be entitled on sccount of
<br /> any defae�lt. Any.such actioR by Lender shall nat ba construed as curing the dsfault so as to bar Lender �rom any
<br /> remedy ihat i#otherwise wauld have had.
<br /> WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this �eed
<br /> of Trust:
<br /> "fitfe. TrusYor warrants ihat: (a) Trustor holds good and marketab[e tit[e of record to the Property in fee simple,
<br /> free and clear of all liens and encumbrances other than those set fortf� in the Real Property description or in the
<br /> Existing Indebtedness section be[ow or in any title insurance policy, title report, or fina[title apinion issued in favor
<br /> of, and accepted by, Lender in connectian with #his Deed of Trust, and {b1 Trustor has the fu][ right, power, and
<br /> authority to execute and deliver this Deed of Trust to Lender.
<br /> DefeRse of 7itte. Subject to the exception in the paragraph above, 7rustor warrants and will fore�er defend the
<br /> title to the Property against the lawful claims of all persons. In the event any action or proceeding is commenced
<br /> that questions Trustor's title or the interest of Trustee or Lender under this Deed of Trust, Tr�stor shall defend the
<br /> action at Trustor's expense. Trustor may be the nomina] parry in such proceedir�g, but Lender shell be enti#]ed to
<br /> participate in the proceeding and to be represented in the proceeding 6y counse[ of Lender's own choice, and
<br /> Trustor will de[i�er, ar cause to be de[ivered, to Lender such instrumeRts as Lender may request from time to time
<br /> to permit such participation.
<br /> Compliance With Laws. Trustor warrants that the Property and tre�stor's use of the Property complies with all
<br /> existing applicable laws, ordinances, and regulations of governmental authorities.
<br /> Survival of Promises. AI! promises, agreements, and siatements Trustor has made in this deed of Trust shell
<br /> survive the execution and delivery af this Deed of Trust, sha11 be cantinuing in nature and shall remain in full farce
<br /> and effect until such time as Trustor's ]ndebtedness is paid in fiu[I.
<br /> EXISTIHG INDESTEDNESS. The fo[lowing provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br /> Existing Liert. 'iE�e ]ien of ihis Deed of Trust securing the Indebtedness may be secondary and inferior to an
<br /> existing lien. Trustor expressly covenan#s and agress to pay, or see to the payment of, the 6cisting Indebtedness
<br /> and ta prevent any defaulY on such indebtedness, any default under the instruments evidencing such indebtedness,
<br /> or any defiau[t under any security documants for such indebiedness.
<br /> No Modification. Trustor sha][ not enter into any agreement with the F�older o�r any mortgage, deed of trust, or
<br /> at[�er security agreement which has priority over this Deed of Trust by which that agreement is modified,
<br /> amended, extended, or renewed without the prior written consent af Lender. Trustar sha][ neither request nor
<br /> accept any fuYure advances under any such security agreement without Ehe prior written conseni of Lender.
<br /> CONDEMIVATION. The follawing pro�isions relating to candemnation praceedings are a part of this Deed of Trust:
<br /> Proceedings. If any proceeding in candemRaFion is filed, Trustor shal] promptly natifiy Lender in writing, aRd
<br /> Trustor sha11 promptly ta[ce such steps as may be necessary to defend the action and abtain the award. Trustor
<br /> may be the nomiRal party in such proceeding, but Lencfer shall be entitled to participate in the proceeding and to be
<br /> represented in the proceeding 6y counsel of its own choice, and Trustor will deliver or cause to be del9vered to
<br /> Lender such instruments and documentation as may be requested by Lender from #ime to time to permit s�ch
<br /> participation.
<br /> ARAEication of Net Proceeds. ]f all or any part of the Property is condemned by eminent domain proceec{ings or by
<br /> any proceeding or purchase in Eieu of condemnation, Lender may at its election require that all or any portion of the
<br /> net proceeds of the award be applied to the lndebtedness or the repair or restoraxion of the Property. The net
<br /> proceads of the award shall mean the award after payrnent af a][ reasonable costs, expenses, and atEorneys' fees
<br /> incurrec[ by Trustee or Lender in connection with Ehe condemnation.
<br /> IMPOSITIQH OF TAXES. FEES ANB CHARGES BY GOVEftN{VIEIIITAL AUTHOHITI�S. The fo[lowing pro�isions relating
<br /> to governmentaE taxes,fees and charges are a part of this Deed of Trust:
<br /> Current Taxes, Fees artd Charges. LJpon request by Lender, Trustor shal[ execute such documents in addition to
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