201404917 - Laserfiche WebLink

Browse

��14�4917 DEED �F TRL�ST Lvan Nv: 'I�'1�777g7 {��ntinued� Page � demand; {B} be added to the balance af fihe Note and be apportioned among and �e payab�e with any ins�allmen� paymen�s to becvme due during eifiher ��} �he term vf any appli�able insurance policy; ar �2� the remaining �erm af �he Note; ❑r {C� be trea�ed as a balloon payment whi�h wi�l be due and payabie at the No�e's maturity. The Deed of Trus� also wi�l se�ure payment ❑� these amoun�s. Su�h right shall be in addition to all ❑ther rights and remedies t❑ whi�h Lender may be en�i�led upon ❑efaul�t. WARRANTY; DEFENSE�F T1TLE. The foll�wing pro��sians relating to ❑wnership❑f the P�operty ar� a par�af this Deed o�Trust: Title. Trusfior warrants that: �a} Trustor holds good and marketa�le ti�[e o�f record �❑ the Prvperty in fee simple, free and clear ❑f all liens and encumbrances other than those set for�h in �he Real Proper�y description ❑r �n any ti�le insurance palicy, title report, ❑r �inal title opinian issued in fa�or ❑f, and accepted by, Lender in connec�ion with this Deed o�Trust, and �b} Trustor has�he full right, power, and authority to execute and deli�er this ❑eed ❑f Trus�t❑ Lender. Defense of Title. 5ubj�c� to fihe exception in the paragraph abo�e, Trustor warrants and w��l fore�er defend the title t❑ �he Prop�rty against the lav+r�u� claims af all persons. ln the e�ent any action ❑r proceeding is commenced �ha�questions Trusfior's tit�e or�he in�erest�f Trustee or Lender under this Deed ❑f Trust, Trustar shal� detend the action at Trusfior's expense. Trustor may be the namina[ party in such praceeding, but Lender shall be enfiitled t❑ participa�e in fihe proceeding and �a be repres�nfied in �he proceeding by counsel of Lender's ❑wn choice, and Trustor wi�� deli�er, or cause to be deli�ered, tv Lender such instruments as Lender may request fram �ime t❑tim� tfl pe�-mit such participation. Compliance V1Cith Laws. Trustvr warrants fihat the Property and Trustor's use vf the Property complies with all existing app[icab�e laws, ordinances, and regulations ❑f go�ernmen�al au�horities. SurWival ❑f Repres�nta�ians and Warran�ies. All represenfiations, warranties, and agreements made by Trus�kor in this Deed of Trust shall surWi�e the execution and de[i�ery ❑�f this D��d of Trus�, shall �e confiinuing in nature, and shall r�main in full force and effect until such time as Borrower's lndebtedness shall b� paid in full. G�NDEIUfNATi�N. The follvwing pro�isions relating tv condemnation proceedings are a part❑f this Deed o�Trusfi: Proceedings, [f any proceeding in �ondemnation is filed, T�-ustar shall promptly notify Lender in writing, and Trustvr shali promptly take such steps as may be neCessary t❑ defend the action and ❑btain �he award. Trus�or may be th� nominal party in such pro�eeding, hut Lender shall be en��tled�❑ participate in�he proceeding and to be represented �n �he proceeding 1ay cvunsel of its awn chaice, and Trus�ar will deli�er or cause to be deli�ered �v Lender such instruments and documenta�ion as may be reques�ed by Lender fram �time fia fiime t❑ permit such par�icipa�ion. Applica�ion vf Net Praceeds. Ef all or any part a�F the Property is c�ndemned by eminent damain proceedings ar by any p�-oceeding or purchase �n lieu vf condemnatian, Lend�r may at its electian require that a�l or any portion of�he net proceeds o� the award he applied t❑ the indebtedness or the repair or res�ora�ion ❑f �he Prvperty. The net proceeds ❑f�he award shall mean the award a�Ffier payment ❑f all reasonable �osfs, expenses, and attorneys' �fees incurred by Trustee or Lender in cannect�on with the condemnatian. 1MP�51TIDN DF TA�CES, FEES AN❑ CHARGES BY G�VERNMENTAL AUTH�RITIES. The �vllawing proWisions rela�ing to governmenfial fiaxes, �ees and charges are a par�❑f this Deed of Trust: Gurrenfi Taxes. Fees and Charges. Upvn request by Lender, Trustor shall �x�cute such documen�s in addition �a this Deed ��Trus� and take whate�er other ac�ion is requested by Lender to per�ec� and continue Lender's lien on �he Real Praperty. Trustor shall reimburse Lender for a11 taxes, as descrilaed belaw, �ogether with a�t expenses �ncurred in recording, perfecting or continuing this aeed vf Trus�, inc�uding withou�t limitation all taxes, �Fees, documentary s�amps, and�ther�harges ��r recording or reg�s�ering this Deed vf Trust. Taxes. The following shall canstitu�e taxes to which �his sec�ivn applies: {1} a specific tax upvn this type of Deed ❑f Trust or upon aIl ❑r any part of the lnd�btedness secured by this �e�d o�Trust; ��} a specific �ax ❑n gorrower which Borrower is au�horized ❑r required to deduct from payments an �he Indelatedness secured hy this type of I�eed of Trust; {3} a tax an fihis fiype of Deed o�Trust chargeable against�he Lender❑r the holder of the Note; and {4} a speci�ic tax �n aI� or any portion o� the lndebtedness or vn payments of prin��pa[ and interest made by 6orrower. 5uhsequenfi Taxes. 1� any tax to which this section applies is enac�ed subsequen� �❑ �he dat� �f �his Deed ❑f Trust, �his event shall ha�e the same effect as an E�ent of ��faul�, and Lender may exercise any or all of ifis aWailable r�medies for an E�en� ❑f ��fault as pra�ided belaw unless T�ustor ei�her �1 y pays the tax befvre it hecomes delinquent, or �2} contests the �ax as p�a�ided aboWe in �he Taxes and Liens sect�an and depasits with Lender cash or a sufifiici�nt corporate surety bond or❑�her securi�y sa�isfac�ory to Lender. SECURITY AGREEMENT; FINANCIN� STATEMENTS. The fallowing prv�isions re�ating to this Deed ❑f Trust as a securify agreemen�are a part❑f�his Deed af Trust: 5ecuri�y Ag�eement. This instrument shali cans�i�ute a 5ecuri�y Agreement �a the exten� any o� the Property cvnstitutes fixtures, and Lender sha[I ha�e aII of the righ�ts o� a secured party under�he lJnifarm Commercial Cade as amended from�ime�o�ime.