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��14�4131
<br /> DEE� �F TRUST
<br /> {Continued� Page 4
<br /> the Pr�perty shall be used first to pay any amount owing t❑ Lender under this De�d o� Trus�, �hen to pay accrued
<br /> �nterest, and the remainder, ifi any, shall be app�ied t� �he pr�n�ipa� �alance vf the Ind�btedness. If Lender holds
<br /> any prvice�ds after payment in full af the Indet�tedness, such proceeds shall be paid �a Trustor as Trustor's
<br /> interests may appear.
<br /> Cvmpliance with Ex'rsting Indebtedness. During the periad in which any Existing lndebtedness described below is
<br /> in effe��, compliance wi�h the insurance prv�isions contained in the instrument e�idencing such Exist�ng
<br /> Indebtedness shall constitute cflmpliance with the insurance provisions under �his Deed ❑f Trust, t❑ the extent
<br /> compl�ance with �h� t�rms �f this ❑eed af Trust would cvnstitute a duplicatian ❑f �nsurance requirement, If any
<br /> pro��eds fram the insurance become payable on loss, the pro�isi�ns in this Deed �f Trust for di��sion of praceeds
<br /> shall apply only ta that portian of the proceeds not payable to the hvlder of the Ex�sting lndebtedness.
<br /> LENDER'S E�CPENDITURES. I# Trustar fails �A� to keep the Property free o� all taxes, liens, security interests,
<br /> encumbrances, and other �la�ms, �g� to pro�ide any required insurance on the Property, �C� to make repairs �o the
<br /> Property or to �omply with any o�ligatian t❑ ma�ntain Ex€sting lndehtedness �n goa�! standing as required belaw, then
<br /> Lender may do sa. 1� any action or praceeding is commenced that w�uld ma��rially affect Lender's interests in the
<br /> Praperty, th�n Lender an Trustor's behalf may, but �s nat required to, take any actian �hat Lender belie�es tn be
<br /> apprapriate tfl pro�ect Lende�'s irtterests. A�� expenses incurred or paid by Lender for such purposes will then bear
<br /> interes� at the rate charged under the Cred�� Agreement from the date incurred ar paid by Lender to the date o#
<br /> repaymen� by Trustar. A[i su�h expenses will became a part af�he Indebtedness and, at Lender's option, will �A} be
<br /> payable on demand, �8} be added to the balance �� the Credi� Agreement and be appflr�ioned amvng and be payahle
<br /> with any installment payments t❑ become due during either �1} the term a�any,applicab(e insurance palicy; or ��y the
<br /> rema�ning term af the Gredit Agreement; or �Cy be t�eated as a �alloan paymen� which will be due and payable at the
<br /> Cred'€t Agreement's maturi�y. The �eed of Trust also wi�f secure payment of these amnun�s. The rights pro�ided fvr in
<br /> this paragraph shall �e in ad�i�ian t❑ any ❑ther rights or any rem�dies to which Lender may be entitled on account flf
<br /> any de�ault. Any such acti�n by Lender sha�1 not be construed as curin� the de#ault s� as ta bar Lender firom any
<br /> remedy that it❑therwise would ha�e had.
<br /> WARRANTY; DEFENSE �F TITLE. Th� fioliawing pro�isians relating to ❑wnership a��he Proper�y are a part of this Deed
<br /> af Trust;
<br /> Ti#le. Trustar warrants that: taf Trustor hQlds good and marketable �itle of recard to the Property in fee simp�e,
<br /> free and clear of aI1 liens and encumbrances other than those set forth in the ftea� Property descriptian ar in the
<br /> Existing Indebtedness section belaw o� in any title insurance p��icy, title report, n� final title vpinion issued in fa�or
<br /> of, and accepted by, Lender �n connect�an with �his Deed o#Trust, and tb� Trustar has fihe fufl righ�, pc�wer, and
<br /> authvr�ty to execute and de�i�er this Deed o#Trust tfl Lender.
<br /> De�ense v# Titte. Subject to the exceptivn in the paragraph abo�e, Trustar warrants and wiil fare�er d�fend the
<br /> �itle t❑ the Praperty aga�nst the law�ul cla�ms of a11 persons. !n the e�ent any action vr prviceeding is cammenced
<br /> that questions Trustor's �i�le or the interest of Trustee �r Lender under this Deed of Trus�, Trustar shall de#end the
<br /> action at Trustor's expense. Trustor may be the nominal party in such proceeding, but Lender sha�i be entitfed to
<br /> part�cipate in the proc�eding and to be represented in the praceeding by counse� of Lender`s own chaice, and
<br /> Trustor w€!( de�i�er, or cause to be deli�ered, to Lender such instruments as Lender may requ�st fram time ta time
<br /> to permi�such par'�i�ipatian.
<br /> Compliance V11i�h Laws. Trustor warrants that the Prvperty and Trustor's use af the Proper�y complies w�th all
<br /> exist�ng app��cable �aws, ordinances, and regu(ati�ns of go�ernmental authorities.
<br /> Sur�i�al of Promises. AI� pramises, agreements, and statemen�s Trusta� has made in �his ❑eed ❑f Tru�t sha11
<br /> survi�e �he execution and deli�ery of this Deed af Trust, sha�l be �ontinuing in nature and shall r�main in �ul� force
<br /> and effect un�il such time as Trus�or's indeb�edness is pa�d in full.
<br /> EX15T�NG INDEBTEDNE55. The follawing pra�isions cancerning Existing Indebtedness are a part a#this De�d of Trust:
<br /> Existing Lien. The lien ❑f �his Deed of Trust securing the Indebtedness may be secondary and infierior t� an
<br /> existing lien, Trustar expressly co�enants and agrees �a pay, ar see to the payment vf, �he Existing Indeb�edness
<br /> and ta pre�ent any defauft❑n such indebtedness, any default under the instruments e�idencing such indeh�edness,
<br /> or any d�fau�t under any securi�y documents for such indebtedness.
<br /> Na Modifiication. Trustor shall nat enter inta any agreement w�th the halder of any mvrtgag�, deed of trust, ar
<br /> other security agreement which has prior�ty over this ❑eed of Trust by which that agreement is modified,
<br /> amended, extended, or renew�d without the prior written consent of Lender. Trustor shall neither request nor
<br /> accept any fu�ure ad�ancss under any such security agreement withaut the priar wri��en consen�of Lender.
<br /> C�NDEMNATI�N. The fallowing pro�isions relating ta condemnation proceedings are a par�of this Deed of Trus�:
<br /> Praceed�ngs. I� any prv�eeding in condemnation is filed, Trustor sha!! promptly notify Lender in writing, and
<br /> Trust�r shall pramptly take such steps as may be necessary t❑ defend the ac�i�n and vbtain the award, Trustor
<br /> may be the nominal party in such pro�eeding, but Lender shall be entitled to participate in the prviceeding and to be
<br /> represented in the praceeding hy counse� o'� its own choic�, and Trustor will deli�er or cause to be deli�ered t❑
<br /> Lender such instrumen�s and documentation as may be requested by Lender from time to �ime ta p�rmit such
<br /> participativn.
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