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<br /> �EE� �F -r�u��
<br /> Loara 1Vo. 57��5�7��
<br /> ��o�7t[nu�d� 1Page 3
<br /> sta�emen�of the taxes and assessments against fihe Praper�y.
<br /> Notice af ConstruGt�on. Trustor sha�l noti�y Lender a�Ieast fifte�n ��5} days he�Fore any work is Commenced, any
<br /> ser�ices are furnished, or any materials are supPlied,�o the P�-vperty, if any rnechanic`s lien, materia[men's f�en, or
<br /> other iien couCd be asser�ed on account of the work; ser�ices, �r materials. Trustor wi➢l upan reques� vf L�nder
<br /> �furn�sh t� Lender ad�ance assurances satistactory ta Lender �hat Trustor can and will pay �he cost ofi such
<br /> improvements.
<br /> PR�PERT� DAMAGE �NSUF�ANGE. The�ollowing provisions re[ating to �nsuring�he Property are a part of th�s Deed o�
<br /> T�-ust.
<br /> M:ain�enan�e of �nsuran�e. Trustar shall procu�-e and maintain poli�ies of ��re insurance virith standard exter�ded
<br /> co�erage �nd�rsemen�s vn a repla�emen� I�asis tor �he �ull �nsurab�e �alue ca�erEng a�l lmprovements an the Rea1
<br /> Property in an amount sufficient to a�aid applicat�on of any co�nsurance clause, and v►�i�h a standard mortg�gee
<br /> claus� in fia�or of Lender, tagefiher with such o�her ha�ard and [iabili�y insurance as Lender may�easonab�y require.
<br /> Policies sha�l be writ�en in form, amaunts, c��erages and basis reasonably acceptable to Lender and issued by a
<br /> company or companies reasonably acceptable to Lender. Trusrtar, upon request of Lender, will d�li�er �o Lender
<br /> -�rom t�m�tQ �ime-�he po�icies or certificates of insurance in form satisfac�ory to L�nd�r, inc�uding stEpulations that
<br /> c�verages will n�t be canc��led ar diminished without at [eas�ten t1�} days prior writ�en na�:rce �o Lender. Each
<br /> insurance policy a�so sha[[ include an endorsement pro�iding tha� coverage in fa�vr of Lender w��l not be impaired
<br /> in any�nray by any act, omission or de�aul�of Trustor ar any o�ther person. 5hou�d fihe Rea[ Property be fvcated in
<br /> an area des;gna�ed by the Administra�ar o�the Federal Emergen�y N#anagement Agency as a special �f�ood hazard
<br /> area, Trus�or agrees to ob�ain and maintain Federal Fload lnsurance, i� available, fvr �he maximum amount vf
<br /> Borrowerrs cred�t line and the full unpaid principa[ ba�ance o�any prior [iens on �he proper�y securing �he loan, up
<br /> � �o �he ma�€imum poli�y [imi�s set under the Natianaf F[aod �nsurance Prvgram, ar as vtherwise requir�d by Lender,
<br /> and�a maintain such insurance for the�erm of th��van.
<br /> Appficativn vf Proceeds. Trustar shall prvmpt�y nati-�y Lender of any Iass or damage tv�he Property. Lender may
<br /> make proof of ��ss if Trustor �a�ls to do so within �€ifteen �15� days of the casual�y, lTllhe�her or not Lend��`s
<br /> securi�ty is impaired, Lender mayF at Lender°s e�ec�ion, recei�e and retain the proceeds of any insurance and apply
<br /> th� proceeds fio the reduction of the lndeb�edness, payment o� any lien a#�Fecting the Property, or the res�orat�on
<br /> and repair o�the P�-aper�y. lf Lender elects �o apply fihe prviceeds to restora�ion and repaEr� Trus�or shall repair or
<br /> replace the damaged or destroyed �mproWements in a manner satisfactory �to Lender. Lender sha[f. upon
<br /> satisfactory proof af such expenditure, pay or reir�burse Trustor ��-om the proceeds €or the reasonable cast Q'�
<br /> r�pair or restorat�fln i� Trustor is na� in defau�� under �h;is Deed o-� Trust. Any pra��eds wh�ch ha�e not been
<br /> disbursed wi�kh�n 1$� days afiter #heir reCeip� and which Lender has nvrt cammitted �o the repair or rest�ration o�
<br /> the Proper�ty sha[f be used f€rst to pay any amoun� owing tv Lender under this Deed ��Trust, then to pay accrued
<br /> interesfi, and the remainder, if any, shal� be appl:ied tv fihe principal halance o�the lndebtedness. ��F Lender holds
<br /> any proceeds after paymen� in �ull o� the lndeb�edness, such proceeds sha[[ be paid tv Trustar as Trustvr's
<br /> interests may appear.
<br /> Cvmptian�e ►nrith Existing Indebtedness. During the per�vd in which any Existing �ndebtedness des�ribed be�ow is
<br /> _ in efFect, compfiance wi�h the �nsurance prav�sio�s �ontained in the instrum�nt evidencing such Existing
<br /> [ndebtedness shalf constitute campliance with the insurance p�o�isions under this Deed of Trust, to �he extent
<br /> compfian�e vuith �he te�ms of�his Deed of Trus� wou�d constitute a dup[�cation of insurance requi�ement. l� any
<br /> proce�ds from th� insurance become payable on loss, the pro�isions in this Deed of Trust for divisi�n of prviceeds
<br /> shalf apply only�o tha�port�on of the pro�eeds not payable�o the hvlder o��he Ex�sting lndeb�edness.
<br /> LENDEF�'S E3�PEIVD�TURES. 1€ Trustor fa�ls �A} to keep the Property free o� all taxes, liens, secu�ifiy interests,
<br /> encum�rances, and other c�aims, {B} �o pro�ide any required insuranc�on �he Property, {�} to make repairs to the
<br /> Proper�y or ta comply w�th any ohligat�on to maintain ExEst�ng [ndebtedness in gaod stan�ing as required below, then
<br /> Lender may do so. [f any action or proGeed�ng is commenced that wou�d ma�erial{y af�ect Lender's interests in th�
<br /> Property, then Lender on Trust�r's h�ha[f may, but is nat required �o, �ake any act�on tha� Lender be��eves �o be
<br /> a�propriate to pro�e�t Lender`s �n�erests. AI[ expenses incurred or paid by Lender for such purposes wili then bear
<br /> interest at the rate charged under the Credit Agreement #rvr� the date incurred or paid by Lender to �he date of
<br /> repayment by Trusto�-. A[[ such expenses wiil b�cvme a par�of fihe lndeb�edness and, at L�nder's apfiivn; wi[E �A} be
<br /> paya�l� on dernand; �B� be add�d to �he ba�an�e o��he Credit Agreement and be apportEoned among and be payab�e
<br /> wi�h any insta�lmen�payments�a hecome due dur�rig either {1} the te�-m ��any app[�cable insurance po�i�y; or {�} the
<br /> remaining t�rm of the Credit Agre�ment; ar �C} �e�rea�ked as a �a[��an paymen�which wil[ be due and payable a�the
<br /> Gredit Agreement's ma�urity, The Deed of Trust alsa wii[ secure paymen�of these amvun�s. The righ�s pro�ided fvr in
<br /> this para�raph sha�1 be �n additian -�o a-ny o�he.r rights ar any remedies �to which L�nder m�y b� en�i-�led on account n�
<br /> an� defiau[t. Any such action by Lender shaf� not be construed as cur�ng the d�faul� so as to bar Lender �ram any
<br /> remedy�hat�t otherwEse wou[d have had.
<br /> I�IlA1�RANTti'; DIEFENSE DF T�TLE. The�ollvwing pro�isians relating to ownership ofi the Property are a pa�rt of this Deed
<br /> ❑€Trus-�:
<br /> Ti�Ie. T�rus�or lnrarrants �hat: {a} Trustor ho�ds good and marketab[e �it[e o� record to the Pr-oper-ry in fee simple,
<br /> free and clear o€ a[! liens and encumbrances other �ha� �hvse set �or�h in the Real Property descriptivn or in the
<br /> Exist�ng [ndebtedn�ss s�ction bei�w or�n any title insurance p�ficy, title repvr�, or��nal�tit[e opinion Essued in fa�or
<br /> of, and ac�e���d by, Lender in connec�ion with �h�s i�eed o�l�rust, and �b} Trus�or has the fu�� right, pvwer, and
<br /> authorifiy�o execu�e and deli�er�khis Deed af Trust tr� Lender.
<br /> Defens� of Ti�le. Subjec�ta the exc�ption �n �he paragrap�n a�o�e, Trus�or warrants and wi�! fore�er defend th�
<br /> tit�e to the Proper�y a�ains��he la�nrfu� claims of a[[ persons. [n the event any a�tion or proceeding is eommenced
<br /> th��questions Trustar's ti�[e or the in�erest of Trustee or Lender under�his Deed of Trust,Trustor sha[l defend the
<br /> action at Trusrtor's expense. Trus�or may be the nominai pa�r�y in su�h proceeding, but Lender shall be entitled to
<br /> participa�te in the proceeding and to �e represen-�ed in �he proceeding by counsel of Lender`s awn cho�ce, and
<br /> Trus�or will defi�er, �r cause to be del�vered. fia Lender such instruments as Lender may �equest�rom time to time
<br /> ta permit such participation.
<br /> CompIiance 011li�h Laws� Trustor warrants that �h� Pr�perty and Trustor=s use af the Properfiy complies wi�h all
<br /> existing applicab[e laws,ord�nan�es, and regula�ions of go�ernmental authorities.
<br /> SurWirr�� o� ��omises. Al[ promises, agreernen�s, and statem�nts Trustor has made in this ❑eed of Trust shal�
<br /> sur�ive �he executian and deli���y vf this Deed o�Trust, sh�ll �ae �ant�nuing in nature and shall r�rr�ain in�u�� torce
<br /> and�ffect until such t�rne as Borrowe�'s�ndeb�edness�s paid in�ul�:.
<br /> EXIST�ING INDEBTEDIVESS. �he f�llow�ng provisions concerning Exist�ng indehtedness are a part o��his D�ed af Trust:
<br /> Existing Lien. The Eien of this ❑eed of Trust secu�-�ng the Endehtedness may be seevndary and �nferior ta an
<br /> e�isting �ien. Trustor expr�ssly covenan�s and ag�e�s to pay, or see to the payment of, �he Existing lnde�tedness
<br /> and to pre�en�any d��ault on such �ndebtednessr any de�Fau�t under the instruments evidenGing such indebtedness,
<br /> or any defau[t under any security documents for such Endebtedness.
<br /> Nv Mvd�fcation. Trus�or sha[[ not enter into any agreement wi�h the holder of any mvrtgage, deed o� trustr or
<br /> other securi�y agre�ment which has privr�ty o�er this Deed of Trust by which �hat agreement �s modiffed,
<br /> amended, extended, or renew�d withou-� the prior writ�en consent of Lender. Trustoa- shal[ neither requ�st nor
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