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<br /> ��15���SS
<br /> DEE[� �F TI�U�T
<br /> L�an No: '��'1�82347 {�o�1�i�u�d� Pa�e 3
<br /> �oWerag� endorsem�nts on a fair valu� basis far the full insurable va�ue cQ�ering all ImproW�ments an the Real
<br /> Property in an amount su�F�i�ient �o avoid applica�ian of any cainsurance �lause, and with a standard mart�agee
<br /> clause in fa�or of Lender. Trustor sha�l als� procur� and main�ain comprehensi�� general liability insurance �n such
<br /> co�erag� amaunts as Lender may request with Trustee and Lender being named as additiona! insureds in such
<br /> liability insurance poiicies. Addi�ionally, Trus�or shall maintain such c�fiher insuranc�, including bu� not limited �o
<br /> hazard, busin�ss interrupfion, and boiler insurance, as Lend�r may reasonably require. Polici�s shall b� written in
<br /> farm, amaun�s, co�erages and basis reasonably acceptable t� Lend�r and issued by a company or campanies
<br /> �-easonably accep�table to Lender. Trustor, upan reques�k o� Lender. wilI de�iv�r �❑ Lender fram time t❑ time the
<br /> poficies �r certi�icat�s �f insurance in �Form satisfactory to Lend�r, including stipulati�ns that covera�es will no� be
<br /> cancelled vr diminished withau� at least ten �1 Qy days prior written no�ic� to Lender. Each insurance po�icy alsa
<br /> shall include an endorsement praviding that co�erage in fa�ar of Lender will nat b�impaired in any way by any act,
<br /> omission vr default of Trustar ar any other p�rsan. 5h�uld the Real Praperty be located '€n an ar�a designated by
<br /> the Administrator of the Federa[ Emergency Management Agency as a special flvod hazard area, Trust�r agrees to
<br /> obtain and maintain Federa� Flovd Insuran�e, if a�ailable, far the full unpaid prin�ipal ba�an�e of the laan and any
<br /> prior liens vn fhe property securing the I�an, up �v �he maximum policy limits s�t under th� Na�ivnal F�oad
<br /> lnsurance Pro�ram, ar as atherwise required �y Lender, and to maintain such insurance�or the�erm�f�he Ivan.
<br /> LENDER'S EXPENDITURES. If any acfiion ❑r proceeding is commenced tha� would materia�Iy a��e�t Lender's int�rest in
<br /> the Property or if Trusto� �ails �o comply wifih any pro�isi�n af this Deed af Trus� vr any Related D�cum�n�s, including
<br /> bu� not limited to Trustor's failure to discharge vr pay when due any amoun�s Trus�tor �s required to discharge or pay
<br /> und�r this Deed of Trust or any Related Documents, Lender on Trus�or's hehalf may �but shall not ba vbligated ta} take
<br /> any action tha� Lender de�ms ap�ropriate on the Property and paying all casts �or insuring. maintaining and preser�ing
<br /> the Property. All such expenditures incurred or paid by L�nder for such purpvses wiil �hen bear in�erest at �he rate
<br /> charged under the No�e �rom the date incurred or paid by L�nder tv the date o� repayment hy Trustor. All such
<br /> expanses will be�ome a par� o� the �ndeb�edness an�l, a� Lende�'s aptian, will {A} be payab�e vn demand; �6� be
<br /> added to the ba�ance of the Note and be apporti�ned amang and be payable with any ins�a�lmen�k payments ta hecome
<br /> due during either �1} �he term o� any applicable insurance policy; �r {�} the remaining term �f th� Na�e; or ��} b�
<br /> 'trea�ed as a ballo�n payment which wifl be due and payable at the Nate's maturity.
<br /> V1IARRANTY: DEFENSE QF TlTLE. The fo�lowing provisions relating to ownership of the Property are a part o��his �eed
<br /> of Trust:
<br /> Titie, Trus�or warrants that: tay Trust�r holds go�d and marketable ti�le of recard tv �th� Pr�perty in fee simp�e,
<br /> free and clear of all liens and encumbrances other than fihase set forth in th� Real Pr�perty descrip�tion �r in any
<br /> titl� insurance policy, ti�le repor�, �r �inal �title opinion 155L[�CI in �avor o�, and a�cepted by, Lende� En connectian
<br /> with�his De�d of Trus�, and �b} Trustor has the full ri�ht� p�wer. and au�hority to e�ecute and deliver this D�ed a�
<br /> Trust to Lender.
<br /> Def�nse of Title, Subject ta the excep�ion in the paragraph abo�e, Trustor warran�s and will f�re�er �e�end the
<br /> title ta�he Praper�y agains�the lawful claims of all persons.
<br /> EVENTS �F DEFAULT. Each of the follo�ving, at Lender's opti�n, shall cansti�ute an Ev�nt of Default under this Deed
<br /> of Trust:
<br /> Payment De#ault. B�rrower fails�o make any payment►rvhen due und�r the Indeb�edness.
<br /> C]�her D��ault. Trustar�ails to�amply wi�h any other term, obligation, co�enant or candition contained in this Deed
<br /> vf Trust or in any of the Rela�ed D�cuments.
<br /> Cvmpliance Defaulf, Failure to c�mply with any flfih�r term, obligafian, covenant ar candi�ian contained in this
<br /> Deed �f Trust, the Note�r in any af the Relat�d aocum�nts.
<br /> De�aul�❑n t]ther Paymentse Failure of Trustor within the time required by�khis Deed of Trust ta make any payment
<br /> for taxes or insurance, vr any other paymen�t necessary to pre�rent filing of or�o effect discharge o�any lien.
<br /> Insolvency. The disso�ution or fermination of B�rrower's ar Trus�or's existence as a g�ing business, the insv[vency
<br /> of Borrower ar Trustor, the appaintment �f a rec�i�rer fior any part of Borr�wer's or Trustor's property. any
<br /> assignment for the benefit af �reditars, any type of creditar worl�ou�t, o� the commencement of any proceeding
<br /> under any banlcrup�cy or inso��ency laws by or a�ainst 6o�rower flr Trus�ar.
<br /> Events Af�ec�ing Guaran�vr. Any af the preceding eWents occurs with respect tv any Guaran�flr �f any of �he
<br /> Indebtedness �r any �uarantar dies or becom�s in�ompe�ent, or re�akes or d�sput�s the �alidity of, ar liab�lity
<br /> under, any Guaranty afi�he Indebtedness.
<br /> Adverse Change. A ma�eria! adverse change occurs in B�rr�►rver's or Trust�r's finan�iai condition, or Lender
<br /> belie�es�fhe prvspect afi payment or p�rformance of th� lndebtedness is impaired.
<br /> Inse�urity. Lender in govd �aith belie�es i�seif insecure.
<br /> Right tv Cure. If any defaul�, a�her than a default in paym�nt is curable and if Trustor has not been gi�ren a no�ice
<br /> o�F a breach �f the same provision vf this Deed af Trust within�he preceding twel�e {1�23 months, it may be cured if
<br /> Trus�or, af�er Lend�r s�nd� written nati�e �o Borrower demanding cure o� such default: {1} cures �he default
<br /> wi�hin fifteen 4�5} days; or {�} if�he cure requires more than fifteen ��5� days, imm��iatefy ini�iates steps which
<br /> Lender d�ems in Lender`s s�le discre�t�on to be sufficien� ta cure the de�ault and �hereafter c�nfiinues and
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