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201405339
<br /> DEED O� TRUST
<br /> Lvan No: 872059781 (Continued) page 3
<br /> an area designated 6y the Ad�ninistrator of the Federa[ Emergency Nfanagement Agency as a special flood hazard
<br /> area, 'frustor agrees to obtain and maintain Federal Flood Insurance, if available, for the maximum amount of
<br /> Trustor's credit line and the fu[I unpaid principal balance of any prior liens an the praperty securing the loan, up to
<br /> the maximum policy limits set under the National Flood [nsurance Program, or as otF�erwise required by Lender, and
<br /> to maintain suci�insurance for the term of the loan.
<br /> Application of Proceeds. Trustor shall promptly notify Lender of any ioss or damage to the Property. Lender may
<br /> make proof of loss if 7rustor fails to do so within fifteen {Z 5} days of #he casualty. Whether or no# Lender's
<br /> security is impaired, Lender may, at Lender's election, receive and retain the proceeds of any insurance and app[y
<br /> the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration
<br /> and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Trustor shall repair or
<br /> replace the damaged ar destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon
<br /> satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for #he reasonab[e cost of
<br /> repair or restoration if Trustar is not in default uncter this Deed of Trust. Any proceeds which ha�e not been
<br /> disbursed within 180 days after their recsipt and which Lender has not committed to the repair or restoration of
<br /> the Property shafl be used first to pay any amaunt owing to Lender under Yhis Deed of Trust, then to pay accrued
<br /> inTerest, and the remainder, if any, shall be app[ied ta the principal balance of the fndebtedness. I# Lender holds
<br /> any praceeds aFter payment in full of the Indehtedness, such proceeds sha[I he paid to Trus#or as Trustor's
<br /> interests may appear.
<br /> Compliance with Existing ]ndebtedness. During the period in which any Existing �ndebtedness described below is
<br /> in efifect, compliance with the insurance provisions conEained in the instrument evidencing such Existing
<br /> Inde6tedness shal[ canstitute compliancs with the insurance provisions under th9s Deed af Trust, to the extent
<br /> compliance with tha terms af this Deed of Trust wauld consEitute a duplication of insurance requiremant. If any
<br /> praceeds from the insurance became payable on loss, the pro�isions in this Deed of Trust for di�ision of proceeds
<br /> shall apply on]y to that portion af the proceeds not payabls to the holder af the Existing Indabtedness.
<br /> LENDER'S EXPEND1TiJRES. If Trustor fails {A) to keep the Properry free of ail taxes, liens, security interests,
<br /> encumbrances, end other clairr�s, {8) to provide any required insurance on the Property, (C1 to make repeirs to the
<br /> Property or to comply with any obligation to maintain Existing fndebtedness in good standing as required below, then
<br /> Lender may do so. If any aciian or proceeding is commenced thaE would ma#erial]y 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 be[ieves to he
<br /> appropriate to protect Lender's in#erests. A][ expanses incurred or paid by Lender for such purposes will ihen bear
<br /> interest at the rate charged under the Credit Agreement from the date incurred or paid by Lender to the date of
<br /> repayment by Trustor. All such expenses wilE become a part of the Indeb#edness and, at Lender`s op#ion, wil] {A} b�
<br /> � payable on demartd; (B) be added to the balance of the Credit Agreement and be appartioned among and be paya6le
<br /> with any installment payments to became due during ei#her (7} the term of any applicable insurance policy; or (2] the
<br /> remaining term of the Credit Agreement; or (C) be treated as a ba[loon payment which will be due and paya6le at the
<br /> Credit Agreement's rrtaturity. The Deed of Trust also wil] secure payment of these amaunts. Tf�e rights provided for in
<br /> this paragra�h shal] be in addition to any other rig[�ts or any remedies to which Lender may be entitled on account of
<br /> any default. Any such action by Lender shall not be construed as curing the default so as to bar Lencfer fram any
<br /> remedy that it oYherwise wovld have had.
<br /> WARRAM1fTY; DEFEl�SE OF TITLE. The fo[lowing provisions relating to ownership of the Praperty are a part of this Deed
<br /> of 7rust:
<br /> Title. Trustar warrants that: (a} Trustor holds good and marketable title of record to the Aroperty in fee simple,
<br /> free and clear of alI liens and enc�mbrances other than those set forth in tf�e Real Property description or in the
<br /> Existing Endebtedness section foelvw or in any title insur�nCe policy, title report, or final title opinio� issued in favor
<br /> of, and accepted by, Lender in co�nection with this Deed of Trust, and Ib� Tre�star has the fuEl right, power, and
<br /> authority to execute and deliver this Deed of Trust to Lender.
<br /> Defense of 7itle. Subject to the exception in the paragraph above, Trustor warrants and wil] forever defend the
<br /> titEe to the Property against the ]awful claims of aEl persons. In the event any action or proceeding is commereced
<br /> that questions Trustar's title or the in#erest of Trustee ar Lender ur�der tf�is Deed of Trust,Trustor shall defend the
<br /> action at Trustor's expense. Trusior may be the nominal party in such proceeding, bu# Lender shall be entitled to
<br /> participate in #he proceeding and to be represented in the proceeding by coe�nsel af Lender's own cho9ce, and
<br /> Trustor will deliver, or cause to be dalivered, to Lender such instruments as Lender may rec{uest from time to time
<br /> to permit such participation.
<br /> Compl9ance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all
<br /> existing app[icable laws, ordinances, and regulations of governmental authorities.
<br /> Sarviwal of Promises. All pramises, agreements, and statements Trustor has made in tf�is Deed of Trust shall
<br /> survive the execution and delivery of this Deed of Trust, shall be continuing in nature and shall remain in full force
<br /> and effect until such time as Trustor's [ndebtedness is paid in full.
<br /> EX[STING 1NDEBT�DNESS. 7he following pro�isions concerning Existing Indebtedness are a part of this Deed of Trust:
<br /> Ezis#ing Lien. The [ien of this Deed af Trust securing the Indebtedness may be secondary and inferior to an
<br /> existing lien. Trustor expressEy covenants and agrees to pay, or see to the payrnent of, tf�e Existing Indebtedness
<br /> and to preveni any de€auft on such indebtedness, any defau[t under the instruments e�idencing such indebtedness,
<br /> or any defauk under any security c{oc�ments for such indebtedness_
<br /> No Modification. �rustor shaEl not enter into any agreement with the holder of any mortgage, deed of trust, or
<br /> other security agreement which has priari3y over this Deed of Trust by which that agreement is �nodified,
<br /> amended, extended, or renewed without the prior wrii#en consent of Lender. Trustor shail neither request nor
<br /> accapt any future advances under any such security agreement withou#the prior written consent of Lender.
<br /> CONDEMNAT[ON. The following provisions re[ating to condemnation proceedings are a paR of this Deed of Trust:
<br /> Praceedings. If any proceeding irs condemnation is filed, Trustor shall prompt{y notify Lender in writing, and
<br /> Trustar shafl promptly take se�ch steps as may be necessary to defend the actian and obtain #he award. Trustor
<br /> may be the nominal party in such proceeding, E�u# Lender shal� be entitled ta participate in the proceeding and to be
<br /> represented in the proceeding by counsef of its own choice, and Trustor will dsliver or cause to be delivered to
<br /> Lender such instruments and documentation as may be requested by Lender from time to time to permit such
<br /> participa#ion.
<br /> Application of Net E'roceeds. lf all or any part af the Property is conctemned by eminent domain proceedings or by
<br /> any proceeding or purchase in lieu of condemnation, Lender may at its e[ection require that a11 or any portion of the
<br /> nei proceeds of the award be applied to the [ndebtedness or the repair or restoration of the Property. The net
<br /> proceeds of the award shail mean the award after payment of a[I reasonable costs, expenses, and attorneys' fees
<br /> incurred by Trustee or Lender in connection with the aondemnation.
<br /> INlP05lTION QF TAXES, FEES AND CHARGES SY GdVERNMENTAL AUTHOR[TlES. The foflowing provisions relating
<br /> to governmental taxes, fees and charges are a part of this Deed of Trvst: .
<br /> Current Taxes, Fees and Charges. Clpon request by Lender, Trustor shall execute such documents in addition to
<br /> this Deed of Trust and take whatever other ac€ion is requested by Lender to perFect and continue Lender's lien on
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