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��15���57
<br /> [�EE�3 �F T`RL��T
<br /> �an N�: 57������9
<br /> {C�nt�nu�c�� ��ag� 3
<br /> insurance policy also sha�� include an endorsemenfi p�-o�iding fhat co�erage ln #aWor of Lender v►ri[I not be impa�red
<br /> in any way by any act, amission or defau[t o�Trus�or ar any o�her person. Shou�d �he Rea! Prope�ty be [ocated in
<br /> an area designa�ed by the Adm:inistra�or of the Fed�era� Emergeney Managemen�Agency as a special f�ood ha�ard
<br /> area, Trustor ag�rees tv obta�n and main�ain Fede�-al F�aod �nsurance, if ava��ahle, €o�- �he ma�€imum amount o�
<br /> Trus�or's �redit Iine and the ful[ unpa,id p��ncipa[ bafance o�any prio�-liens an the proper�y securing the Ioan, up to
<br /> -�he maximum pol�cy]irrrits se�under fhe National F[ood [.nsuranc� Program, or as other�rvise required by Lender, and
<br /> tv ma�n�a�n such insurance far the term of�he�oari.
<br /> Ap��ica�ivn v� Prviceeds. Trust�r sha�� promp�ly n�tify Lender of any �oss a�damage to thn Praperty. Lender may
<br /> �nake proof a� [oss E� Trusto�- faifs to do s� wi�hin fi�teen 4'�5� days �f the �asua{ty� 1l11hether or nofi Lender`s
<br /> security is impaired, Lender mayr at LenderTs elec�ion, receive and retain the proceeds of any �nsurance and appfy
<br /> the prac�eds tv the redu�tian o��he [ndebt�dness, payment ofi any f�en a�fec�in� the Property. or the res�tora�ivn
<br /> and repair ot the Property. 1� Lender e[ecfis to app�y the proceeds �o restora�ion and repair, Trus�or shaf� repair ar
<br /> rep�ace the damaged or des�royed lmprovem�nts in a manner satis�actory �o Lender. Lender shalI, upon
<br /> satis�actory pro�� o� such expenditure, pay or �eimburse Trustor from �he proceeds for the reasanal�le cost of
<br /> repa�r- or restora�ion �� Trustor is not in de#ault under this Deed of Trust. Any p�-oceeds whi�h ha�e no-� �e�n
<br /> d�sbursed �i�hin �8� days after�heir receipt and which L�nder has not committed ta the repair or res��ration of
<br /> �h� Praper�y sha�� be used first�o pay any amount vwing �o Lenoier under this ❑eed of Trust, fihen to pay accrued
<br /> in�erest, and the remainder, if any, shall be appl��d �� the principa� balance of the [r�debtedness. [� Lender ho[ds �
<br /> any proceeds after payment in fu[[ af �he lndehtedness, such proceeds shall be paid to Trus�or as T�-ustorrs
<br /> interests may appear.
<br /> LENDE�'S EXPEiVD��URES. 1f Trustor �ails {A} to keep �he Prvperty free o� al� taxes, liens, security interes�s,
<br /> �ncumbrances; and other c�aims, {B} to provide any r�quired insu�ance�n the Properry, o�- �C} to make r-epa��-s�to the
<br /> Property �hen Lender may do so. [f any ac�ion or procesding is commenced tha� wou�d ma�eriafly affec� Lender's
<br /> dnterests in $he Proper-�y, �hen Lender on Trus�arrs beha[f may, but is not requir�d t�, �ake any aetion that Lende,r
<br /> be[�e�es �o be appropriate�o protect Lender�s interes�s. Al[expenses incurred or paid by Lende�for such purposes wi[�
<br /> -�hen bear interes�at the ra�e char�ed under the C�-edi-�Agreement from the date incurred or pa�d by Lender tv�he date
<br /> of repayment by Trustor. �41[ su�h expenses wif[ become a part o�the lndebtedness and, at Lender's option, wi�[ {A}
<br /> be paya�[e on demand; {g} be added �o �he ha.�ance of the Credit Agreement and be apportioned among and b�
<br /> payable�rvith any insta�lment paymen�s�a beeome due dur�ng either ��� -�he t�rm of any app�iGable insurance policy; ar
<br /> �.�} the remain�ng�erm o��he Credit Agreement; or {C} be�rea�ed as a ba��oan payment which v�rill ��due and payabfe
<br /> a��he Credit Ag�eemen�`s matur�ty, The D�ed of T�-ust a[sa vvi[[secure payment of these amaun�s. The rights pro�ided
<br /> f�r in fihis paragraph sha[[ be'rn addition�o any othe�rights or any rem.edies to whi�h Lender may b�en�i�ied vn ac�ount
<br /> o� any defau[�. A�y such ac-�ion �y Len.der sha[[ nofi he constru�d as curing �he defau�t so as to bar Lender frvm any
<br /> rerraedy that i�otherv�ri:se wvuid have had.
<br /> 1t�At����li�'Y; DEFIENSE DF 1"�YLE. Yhe foCloVv�ng �ravisions re[ating to nwnership o�the P�operty are a par-�of�his Deed
<br /> �f Trus�;
<br /> Ti�ie. Trus�or vtirarran�s that: �a} Trustor holds good and marketable title of record �o the Property in fee simp[e,
<br /> free and clear o�r a�[ lEens and encuml�rances ❑�kher �han those s�t �arth in the Real Praper-�y desc�iption or in any
<br /> �rt[e insurance paficy, ���le report, or finaf tit�e opinion issued in fa�vr of, and acc�pted �y, Lender in cannec�ion
<br /> wi-�h�his Deed a�Trus�, and {b} Trustor has the full right, p�rrve�, and authority to execute and de[iver this Deed o�F
<br /> Trust ta Lender.
<br /> De�ense a� Titie, Subje�t t� the exceptiQn in �he paragraph a�ave, Trustor warrants and vtirill fore�er defend the
<br /> ti�le to the Proper�y against the lawfu[ ��aims of a�� persons. [n the e�ent any action or pr�ceeding is cvmmenc�d
<br /> �hat qu.estions Trus�or;s tit�e or the�nteres�o�Trust�e�r �ende�under�his �]eed of�rus�t,T�-ustar shaf� def�nd the
<br /> ac�ion a�Trustor's �xp�nse. Trus�or r�ay be the nvrninal party in such proceed'€ng� but�.�nde�sha[f he en�'t�led�a
<br /> �articipa�e in the pra�eed�ng and �� be repr-esen�ec� in �he pr��e�.ding h� �ounse[ �f L�nder°s ov►rra cho�ce� and
<br /> T�us�or v�r��� deli�er, or caus�ta be de�iv�red, tv �ender su�h ins�rurr�ents as Lender ma�request fram�irr�e t���a�r-�e
<br /> to perr�i�suc� par�icipatiora.
<br /> Com�l�ance V5li�� Laws. Trustor warra.n�s thafi �he F'raper�y and TrustorFs use o� �he P�operty comp��es vvith a[�
<br /> exis�ing app[icab[��av►rs, ordinanc�s, and regula�ions��gavernmental autharities.
<br /> Survival o�r Prom�ses. Ali pramises� agreements, and sta�em�nts Trustor has rriade in -�his Deed of Trus� shall
<br /> sunrive the execut�vn and de:li�ery a��his aeed o�Trusti sha[[ be continuing �n nature and shall rema�n in full �orce
<br /> and�ffect unti[such�ime as Trustor's lndebtedness is paad �n fu[l. �
<br /> �QIND��IIlNATI�N. The�Q�`lowing pr��isions re[ating to candemrnation proceedings are a part�f this Deed of Trust:
<br /> Prviceedir�gs. If any pro�eeding in candemnation is ���ed, T�-ustvr shall promp�[� noti�y Lender in writing, and
<br /> Trusto�- sha11 promptfy take such s�eps as may be ��cessary t� defend �he acti�n and obfain �he award, Trust�r
<br /> rnay he th�:nominai par�y in such pr�ceeding, but Lenc��r shall be enti�Ied to paa�ticipa�e in�he proceeding and to be
<br /> represented in -�h� pro�e�dirtg by c�uns�1 of its �wn ch�ic�, �ncd �rus��r v�ri[� deEe�e� or �ause �a �e delivere� �o
<br /> Lerad�r �uch �ns�ruments and doc�rnentation �s ma� b� req�es�ed hy Lender fro�ra �irr�e to ��me to perrn�t s�ch
<br /> participat�on.
<br /> AppIica�ion vf iVe�P�o�eeds. lf.a�� o�an�par��-�th� C'ro�perty is �ondemned by eminen�domain p�-oceedings or�y
<br /> any proceeding or purchase in �ieu of condemnation, L�nder may a�its e�ection require tha�afi or any portion of the
<br /> net praceeds of the award be app[i�d fi� the lnd�btedr�ess ��r the repair or restoration of the Proper�ty. The net
<br /> proceeds o�the awa�-d shai! mean the award after paymen� af all reasonab�e costs, expenses; an.d attorneys' fees
<br /> incurred by Trustee or Lend�r in cannection with the�andemnati�n.
<br /> IIVIP�S�TiaN �F TA�CES; FEES ►�ND �H�RCES BY G�VEf�NNiE�IITAL ALITIHQ�ITIES. The �vllowing provisions re[ating �
<br /> to go�ernmenta�tax�s,fees and charges are a part of this Deed of Trust:
<br /> Cu�rent Tax�s, Fees and Ghar��es. LJpvn request by Lender, Trus�vr shaIl execute suc� documen�ts ir� addi�ion ��
<br /> this De�d €�€Trust and ta[ce wha�ever o��e.r ac�ior� is requested b.y Lender to per�ect�nd con�inue LencYer's lien on
<br /> � �he Rea[ Pro�erty. Trus�or sha[[ re�rnbu�se Lender fo�r all taxes, �s descr��ed b�l�vv, t�ge�er wi�h a[[ ex�erases
<br /> �ncurred in reco�din�r �e����ting or �or��inuing this Deec� �f Trust. inc��ding with�ut l�mi���ion a!� �ax�s� �ees;
<br /> docUr�er�tary sta€�nps. and c��her charges�or�ecvrdEng�r r�gis�ering�his Dee����rus$.
<br /> Taxes. The �oilawing s�+a11 constitute �a�€es �o irvhic� th�s sec�ivn applies: �1� a sp�ci��c �ax upfl� ��is t�pe ��
<br /> Deed of Trust or upon a[[ or any part ��the Indeb�edness secured by �his Deed of�rus�; �2� a speci�ic �a� on
<br /> Trus�or wh'rch Trustvr is au�horized vr required fia dedu�t from paymen�s �n the �ndeb�edness secured by this type.
<br /> of Deed of T�us�; �3� a tax on�his type of Deed o�Trus-�chargeable aga�nst the Lender or the hofder o�F the Credit
<br /> Agreement; and {4} a speciffc �ax an a[I vr any portion of the lndebtedness or on payments of principa� and
<br /> interest made by Trustor.
<br /> Su�sequent Taxes. �f any tax t� v�rhich this section applies is enacted subsequen� fo �he date o� �his Deed €��
<br /> Trus�, this event sha�� have �F�e sarr7e ef�ect as an E�en� o� Defiau[t, and Lender may exercise any or all o� its .
<br /> a�aiIabCe rerned�es �vr an E�ent o� De�aul� as pro�ided be���►v unfess Trustvr either ��} pays t�e �eax be€vre it
<br /> �e�orr�es definquentE or ��} cantes�s�he tax as prc�v'rded �bo�e in �he Taxes aa�d L�ens s�ctivn ar�d depvsi�ts �rv��th
<br /> � L�nder cash vr a su�ici�n�co�pora�e su�-�ty bor�d or o�l�er secur��y satis�ac$ory�o Le�der.
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