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201500950
<br /> DEED OF TRUST
<br /> Loan No: 872059395 (Cantinued) Page 3
<br /> in any way by any aCt, amission or de�Fau[i of Trustar or any other person. Should the Rea[ Property be ]ocated in
<br /> an area designated by the Administrator of the Federal Emergency Management Agency as a special flood hazard
<br /> area, Trustor agrees to ohtain and maintain �ederai Flood ]nsurance, if available, for the maximum amount of
<br /> Trustor's credit line and the fu11 unpaid principal ba[ence of any prior�iens on the property securing the loan, up to
<br /> the ma�cimum poliey IimiYs set under the Natiorial Floo-d Insurance Program, or as otherwise requirec3 by Lender,and
<br /> to maintain such insurance for the term of tE�e loan.
<br /> Application of Proceeds. 7rustor shaEl promptly notify Lender of any loss ar damage to the Property. Lertder may
<br /> make proof af loss if Trustor fails to do so within fifteen {15] days af the casualty. Whether or rtat Lender's
<br /> security is impaired, Lender may, at Lenc[er's election, receive and retain ihe proceeds of any insurance ared apply
<br /> the proceeds to the reduction of the Indebtedness, payment of any ]ien affecting The Property, or tha restoration
<br /> and repair of tf�e Property. Ef Lender elects to apply the proceeds to restoration and repair, -frustar shafl repair or
<br /> replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upan
<br /> satisfactory proof of such expenditure, pay or reirrEbe�rse Trustor fram the proceeds for the reasonable cos# of
<br /> repair or restoration if Trustor is not in defau[t under this Deed of Trust. Any proceeds which have not been
<br /> disbursed within 'E 80 days atter their receipt and which Lender has not corr�mitted to the repair or resioration of
<br /> the �roperty sha�l be used first to pay any amount owing to �ender under this deed of Trust, then to pay accrued
<br /> 9nterest, and the remainder, if any, shall be applied ta the principa! balance of the lndebtedness. [f Lender ho[ds
<br /> any proceeds after paymsnt in full of the Indebtedness, such proceeds shall be paid to Trustor as Trustor's
<br /> interests may appear.
<br /> LEN�ER'S EXPEND[TURES. If Trustor fails {A} to [ceep the Property free of all taxes, liens, security interests,
<br /> encumbrances, and other claims, fB) to provide any required insurance on the Property, or {C] to make repairs to the
<br /> Property then Lender may do so. If any action or proceeding is commenced that would materially affect Lender's
<br /> interests in the Propes-ty, then Lender on Trustor's behalf may, but is not required to, take any actlon that Lender
<br /> believes to be ap�rapriate to protect lender's interests. AI[ expenses incurred or paid by Lender for such purposes wilf
<br /> then bear interesi at the rate charged under the Credit Agreement fram The date incurred or paid by Lender to the date
<br /> of repayment by Trustor. A[I such ex�enses wilE become a part of the [ndebtedness and, et Lendsr`s option, wil[ {A)
<br /> be payable on demand; (B} be added ta the balance of the Credit Agreemen# and be apportioned among and be
<br /> payable witF� any installment payments to become dus during either {�} the term of any applicable insurance policy; or
<br /> {2} the remaining term of the Credit Agreement; or (C} be treated as a ba[loon payment which wil[ be due and payable
<br /> at the Credit Agreement's €naTurity. The Deed of Trust also wilf secure payment of these arr�o�nts. The rights provided
<br /> for in this paragraph sF�ali be in addition to any other rights or any remedies to which Lender may be entitled on account
<br /> of any dsfau[t. Any such action by Lender shal] not be construed as curing t[�e dafauft sa as to bar Lender from any
<br /> remedy that it otherwise would have hac[.
<br /> WARFIAHTY; I]EFENSE OF TETLE. The fo[lowing provisions re[ating to ownership of the ProperEy are a part of this Deed
<br /> of�rust:
<br /> Tit[e. Trustor warrants that: (a1 Trustor ho3ds good and marketable title of recard to the Property in fee simpfe,
<br /> free and clear of all liens and encumbrances other than thase set forth in the Real Property description or in any
<br /> title insurance po[icy, tit[e report, or fina€ title opinion issued in favor of, and accepted by, Lender in connection
<br /> with this Dead of Trust, and [b1 �rustor has the full righi, power, and a�thority to execute and deliver this Deed o€
<br /> 7rust to LenBer.
<br /> Defense of Title. Su6ject to the exception in the paragraph above, Trustor warrants and wiEl forever defend the
<br /> title to the Proper[y against the ]awfu] claims of a[I persons. In the event any action or proceeding is corr�menced
<br /> that questions Trustor's tit[e or the in#erest of Trustee ar Lender under this Daed of Trus#, Trustor shaEl defenc[the
<br /> action at Trustor's 8xpense. Trustor may 6e the nominal party in suc[� proceeding, but Lender shall be entitled to
<br /> participate in the proceeding and to be represented in the proceeding by counse] of Lender's own choiee, and
<br /> Trustor wi[I deliver, or cause to be delivered, to Lender such instruments as Lender may req�est from time to#ime
<br /> to permit such participation.
<br /> Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with a[I
<br /> existing applicable laws, ardinances, and reguiatians of governmental authorities.
<br /> Survival of Promises. Al[ promises, agreements, and statements Trustor has made in this Deed of Trust shall
<br /> survive the execution and delivery of this �esd of Trust, shall be continuing in nature and sha[I remain in fu[I force
<br /> and effect until such time as Trustor's [ndebtedness is paid in ful1.
<br /> CONDE�fINATION. The fo[lowing pro�isions refating to condemnation proceedings are a part of this Deed of Trust:
<br /> Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and
<br /> Trustor shall promptly take such steps as may be necessary to defend the action and obtain the award. 7rus�or
<br /> may be the nominal party in such proceeding, 6ut Lender shall be entitled to parcicipate in the proceeding and to be
<br /> represented in ti�e proceeding by counsek of its own choice, and Trustor wil[ deliver or cause to be deli�ered io
<br /> Lender such instruments and documentation as may be requested by Lender from time to time to permit such
<br /> participation.
<br /> Application of 11Eet Proeeeds. If aEl or any part of the Properry is condamned by eminent domain proceedings or 6y
<br /> any proceeding or purcf�ase in [ieu af condemnation, Lender rr�ay at its election require that all or any portion af the
<br /> net proceeds of the award be applied to the [ndebtedness or the repair or restoration of the Property. The net
<br /> prviceeds of the award shal[ mean the award after payment of all reasonable costs, expenses, and attorneys' fees
<br /> incurred by Trustee or Lender in connection with the condemnation.
<br /> fMPDSlT10N OF TAXES, F�ES AND CHAHGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating
<br /> to governmenta]taxes, fees and charges are a parC of this Deed of Tr�st=
<br /> Current Ta�ces, Fees and Charges. Upon request by Lender, Trustor sha[I execu8e such documents in addition to
<br /> this Deed of Trust and take whatever otE�er action is requested by Lender to perfect and continue Lender's lien on
<br /> the Rea[ Property. Tre�stor sha[I reim6urse Lender for all taxes, as described below, together with alf expenses
<br /> incurred in recording, perfecting or continuing this Deed of Trust, including without limitation aq taxes, fees,
<br /> documentary sYamps, and other charges for recording or registering this �esd of Trust.
<br /> Taues. The following shall constitute taxes to which this section applies: [9) a specific tax upon this type of
<br /> Deed of Trust or upon al] or any part of the lndebtedness secured by this Deed of Trust; {2} a specific tax on
<br /> Trustor which Trustor is authorized or required ta deduct from payments on the lndebtedness secured by this type
<br /> of Deed of Trust; {3} a tax on this type of Deed of Trust chargeabEe against the Lender or the holder of the Credit
<br /> Agreement,• and [4} a specific tax on a11 or any partion of the Indebtedness or on payments of principal and
<br /> interest made by Trustor.
<br /> Subseq�errt Taxes. If any tax to which this sectian applies is enacted subsequent to the date of this Deed of
<br /> Trust, this e�ent shall ha�e the same effect as an �vent of Default, and Lender may exercise any or afl of its
<br /> avaflable remedies for an Event of Defau[t as provided below unless Trustor either ;1} pays the tax before it
<br /> becomes definquent, or {2} contests ihe tax as provided above in the Taxes anc{ Liens section and deposits with
<br /> Lender cash or a sufficient corporate surety 6ond or other security satisfactory to Lender.
<br /> SECIlRI7Y AGREEMENT; FINANC�NG STATEMENTS. The fo[lowing provisions relating to this Deed of Trust as a
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