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' 201404120
<br /> ' DEED OF TF�UST
<br /> (Conti'nued)' 'Page 3
<br /> Property in an amaunt sufficient to avoid applicatican of any coinsuranee clause, and with a s#andard mjortgagee
<br /> clause in faVar of Lender,together with such other hazard and liability insurance as Lender may reasonably require:
<br /> Policies shail be wrftten in fc��m, amounts, covsrages and b�sis reasonabiy acceptable to �ender and issued by a
<br /> company ar>.companies reasonabiy acceptabi�'to Lendec Trustor, upon request of Le�der, will''deliver to Lender
<br /> from time tc�'time the policies ar certificates o€insurance in form &atisfactory ta �endee,'including stipulations that
<br /> co�erages wili not be cancelled or diminished without at least thirty(30j days prior written notice to Lender. Each
<br /> insurance pojlicy alsa shall include an enddrsement prpviding that coverage in favor of�entler wi[I not be',impaired
<br /> in any way by any act, pmission or defauit of Trustor or any other perso�, Should the Real Property be Iacated in
<br /> an area designated by the Administrator af the Federal'Emergency Managemenf,Agency as a special flood hazard
<br /> area, Trustor agrees'to obtain and maintain 'Federal Fiood Insurance, 'i� auailab{e, for the maximum amaunt of
<br /> Trustor's credit Iine and the full unpaid principal baiance of any',prior liens on the property securing the loan, up to
<br /> the maximum policy limits set under the National Flood Insurance Program, or as'lotherwise required by Lender,and
<br /> to maintain such insufance fo�the term of the loan.
<br /> Applicatian af Proceeds, Trustor shall prornptly notify Lender of any loss or damage to tihe Property. Lender may
<br /> make proof of loss if Trustor fails to"do so within fifteen (15) days of the casualty. 'Whether or not'Lender's
<br /> secGrify is impaired,'�Lender may, at €ender's electian,�'�receive and retain the praceads of any insuranee and apply
<br /> the proceeds to the reduction of the fndebtedness, payment of any Iien afFecting the Property, o�the restoration
<br /> and'repair of the Prc�perty. If Lender eiects to`apply th'e prpceeds to restaration and repair, Trustor shall,repair or
<br /> repiace the damaged or destroyed 'Jmprovements in' a manner satisfactory,'to Lender. Lender shall, upon
<br /> satisfactory proof of''such expc:nditure, pay or reimburse Trustor from the proceeds for the reasonable cost of
<br /> repair or restoration 'if Trustor is not'in default under'this Deed of Trust. Any proceeds which have not been
<br /> disbursed within 180 days after their receipt and which Lendee has not committed to the repair or res#Qration ofi
<br /> the Property'shall be''used first#o pay'any amount owing to Lender under this Deed af Trust,then to pay accrued
<br /> interest, and ths remainder, if any, shall be applied to'the principal balance of the Indebtedness': If Lender holds
<br /> any lproceeds after payment'in full of fhe Indebtedness, such procee�is shail' be paid to Trustor as Trustor's
<br /> interests may appear:'
<br /> Compliance with Existing Indebtedness. During the pe�iod in which any Existing indebtedness described below is
<br /> fn effect, compliance with tthe insurance provisions contained in the instrument evidencing such 'Existing'
<br /> Indebtedness shall ct�nstitute��'�comp[iance with'� the insurance provisions under'this Deed of TrusC, to the extenf��
<br /> compliance with the terms of this Deed of Trust would constitute a duplication'of insurance requirement. If any
<br /> proceeds from the insuranee become payable on toss, the provisions in this Deed of Trusf for d7vJsipn of proceeds�
<br /> shaif apply only to that portion o�the proceeds n�t payable to the holder of the Existing Indebtedness.
<br /> LENDER'S EXPE�EDITURES. ff Teustor fails (A) to keep the Property free of all taxes,,Eiens, security interests,'
<br /> encumbrances, and other cfaims, '{B) to provide any required insurance on'the Property, (C) to make repairs�o the
<br /> Property or to comply witih any obfigatiqn to maintain E>cisting Indebtedness'in goad``standing as required below, then
<br /> Lender may do so. If any aetiqn'or proceeding is'comrnenc�d that would materia4ly affeet 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 to [�e'
<br /> appropriate to protect Lender's interests. 'Ail expenses incurred or paitl by Lender'for such purposes will then bear
<br /> interest at the rate charged under the C�edit Agreement from the dafe incurred or paid by Lerrder to the date of
<br /> repayment by Trust4r. AII such expenses will become a part of the'lndebtetlness and, at Lender's opfiion, will, (A) be
<br /> payable on demand; (B) be added to the balance of the Credit,�c7reement and be apportioned arnong and be payable
<br /> with any'installmerrt payments ta become due durin�either ,(1j thelterm of any applicabie insurance policy; or, (2) the
<br /> remaining term of the Credit Agreement; or (C) kse treated'as a balioon payment which will be due and payable at the
<br /> Credit Agreement's maturity. The'Deed ofTrust afsowill secure payment afthese amc�unts. 'The rights provided for in'
<br /> this �Saragraph shall kje in'addition'to any other rights or any r�medies to which Lender may be entitled on account vf'
<br /> any defauft. Any such action by,'Lender shail not'be construed as curing,the default so as to bar Lender from any
<br /> remedy that it othervvise would have had. '
<br /> 4#VV+RRRANTY; DEF��1�E OF TfTLE. �'The fallowi�g provisions relating ta ownership of the Property are a,part of this Deed'
<br /> of Trust:''
<br /> Title! Trustor warrants that. I(a) Trustor hoids good and marketable titte of record to the Propertyr in fee simple„'
<br /> free land clear of all liens and'encumb�ances other than those set fortn'in the Real Property description or in the'
<br /> Existing Indebtedness'sectian below or in any title insurance policy, titte,Irepart, or final title opinion issued'in favor'
<br /> of, and accepted by, Lender in connection with this Qeed of Trust, and', (b)Trustor has the full right, power, and'
<br /> authority io execute and deliver this Deed of Trust to Lender.
<br /> Defense Qf Title. Subject to the exeeption in the paragraph above, Trustar warrants and will forevee defend the'�
<br /> title to the Property ajgainst the lawful ciaims of a!I persons. In''the event any action or proceeding is commenCec['
<br /> that'questions Trustor's title or the interest of Trustee or Le�der under this Dsed'of Trust',Trustor shall defend the'
<br /> actian at Trustor's expense. Trustor may be the nominal party',in such proceetling, but Lender shatl be entitled ta'
<br /> participate in'the proceeding and to be represented in the proceeding'',by counsel of Lender's own ehoice, and''
<br /> Trustor will deliver, ar cause fo be delivered,to Lender such instruments as Lender may request from time to time'
<br /> to permit such participaiion. '
<br /> Compiiance With Laws. Trustor warrants that the Property and Trustor's use lof the Property complies'with alf'
<br /> existing applicabte laws, or�inances, and regulations of governmental authorifies.���'�
<br /> Surv7vaf of Promises. All promises, agreements, and statements Trustor has made in'tnis Ue�d of Trust shail''
<br /> survive the execution'and delivery of this Deed'of TrusY', shall be continuing in nature and shail remain in full farce''
<br /> and effect until such time as Trustor's lndebtedness is paid in full.
<br /> EXISTIN�INDEBTEdNESS: The foflowing pravisions conCerning Existing Indebtetlness are a part of this Deed of Trust: '
<br /> Existing Lien. The lien of ihis Deed lof Trust'securing the Indebtedness may',be secondary and inferior to an'
<br /> existing lien.'Trustor express{y covenants and'agrees to pay, ar see to the payment of, the Existing Indebtedness'
<br /> and to prevent eny default on�5ueh ind�btedness,any defauit under the instruments evit[encing such indebtedness,'���
<br /> or any defau�f under any securify documents for such indebtedne�s.
<br /> No l4dl�sdification. Trustor shall not enier into any agreernent with the holder of any mortgage, deed of trust, or'
<br /> other Security agreement which has''priority 'over this Deed 'of T�ust by which thaY'agreement is modified,''
<br /> amended, extended, or renewed without the prior written consent of Lendec Trustor'shall neither request nor'
<br /> accept any�uture aduances under any such security agreement without the prior written consent of Lender!
<br /> CQNQ��i�ATiON. The folfowing pravisions relating to condemnation proceedings are a part of'this Deed of Trust:
<br /> Proceedings. ', If any 'proc�eding in ce�ndemnation is fiied, Trustor shail promptly noti�y Lender i� writing, antl'
<br /> Trustc�r shall'promptly take suctl steps as rriay,'be necessary to'defend the action and obtain the award. 'Trustor'
<br /> may'be the nominal party in sueh praceeding, but Lender shali be entitled'to particip�te in the proceeding and to be''
<br /> represented in Yhe proceeding``,by counsel of its own chaice, and Trustor wiil deliver or'cause ta be delivered to''
<br /> Lencler such 'instruments and'dpcumentation as may be requested by Lender fcom time to time to permit such'
<br /> participa4ion,'�'�
<br /> Application of Net Prpceeds. If all or any part of the Property is;condemned by emi�ent domain p�oceedings or by'
<br /> any�roceeding or purchase in'Jieu of condemnation, Lender may'at its eiection require that all or any portion c�f the>�
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