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��15�1343
<br /> L�EEL� �F TRUSY
<br /> Loan IVa: ��'I�83�94 ��ontinued� Pag� 4�
<br /> �arnp�iance with Ex�sting Indebt�dness, During the p�riad in which any Exis�ing �ndeb�edness described below is
<br /> in effect, campliance with �he �nsurance pro��sions confiained in the instrumen� e�iden�ing such Existin�
<br /> lndebtedness shall �ons�itute cvmp[iance with the insurance pro�isions und�� �his Deed o� Trust, to the ex�en�
<br /> compliance with th� �erms ot this Deed of Trust wauld constitute a dupli�atian a� insurance requi�ement. !f any
<br /> pr�ceeds from �khe insurance become payabl� on [ass, the praWisions in this Deed �f Trust for diuision of proceeds
<br /> shall appfy only to�hat partion of the proceeds not payable to th�hold�r of-�he Existin� lndebtgdness.
<br /> LENDER'S E�CPENDlTURES. If Trus�ar fails �A� to keep the Property free of all taxes, liens, security in�k�rests,
<br /> encumbran�es, an� �ther claims, {B} to provid� any requ�red insurance on the Property, �C} �o mak� repairs to the
<br /> Property or to cflmply ►rvith any obli�ation t� maintain Existing Indebtedness in gvod standing as required below, �hen
<br /> Lender may do so. If any ac�ion ar proceeding is comm�nc�d that wauld mat�rially affect Lender's interests in �he
<br /> Proper�y, then Lender on Trustor's behalf may, bu� is not required �o, take any actian �hat Lender belie�es to be
<br /> app�-opriate fiv protect Lender's interests. A!I expenses incurred or paid by Lender �or such purpvses wiEl then bear
<br /> interes� at the rate charged under �he Nv�e fram the date incurred or paid by Lender to the date of r�paymen� by
<br /> Trust�r. All such expenses will become a par� of the Indebtedness and, at Lender's aption, will �A} be payable on
<br /> demand; �B7 be added to the balance of �he Note and be appartianed among and be payab[e with any installment
<br /> paym�n�s to become due during either �1� �he term af any applicable insurance policy; or {�} �he remaining term af
<br /> the Note; �r �C} be �reated as a ba�[aon payment which will b� due and payabl� at�khe Note's maturity. The D�ed at
<br /> Trust afsv wi�l secure paymen� of these amounts. The rights pr��ided �or in �his paragraph shall be in additi�n tv any
<br /> other rights or any remedies to which L�nder may be entitl�d on ac�ount of any default. Any such ac�ian by Lender
<br /> shall nat be construed as curing the defaul�so as#� bar Lender from any remedy that it atherwise would hav� had.
<br /> `NARRANTY; DEFENSE�F T�TLE. The foilawing pro�isions refa�ing t� ❑wnership o�F the Praperty are a part of this Dsed
<br /> of Trus�:
<br /> Ti�le. Trus�or warrants �hat: �ay Trustvr holds �aod and marke�a�le ti�le of recnrd �o �he Property in #e� simple,
<br /> -�ree and clear o� all liens and encumbranc�s �th�r than �hose set f�rth in the Real Property descrip�ion ar in the
<br /> Existing In�feb�edness s�ction below or in any title insurance policy, tifil� repart, vr f�nal title opinion issu�d in fa�or
<br /> of, and accept�d by, Lender in connec�i�n wi�h this a�ed �f Trust, and {b� Trusfior has the �ull righ�k, power, and
<br /> au�hority to execute and deli�er this Deed of Trust ta Lender.
<br /> De�ense of Title. Sub�ect fiv �he exceptian in the paragraph aba�e, Trustor warrants and wili �ore�er defend the
<br /> ti��e �a the Pr�perty against the lawful claims of all persons. In the e�ent any actian or praceeding is commenced
<br /> �ha�questions Trus�or's titl� or the interes�o�F Trustee or Lender under this Deed of T�us�, Trustor shall defend the
<br /> ac�ian at Trustor's expense. Trustor may be the nominal party in such proceeding, bu� Lender shall be entitled to
<br /> par�i�ipate �n the proceeding and to be represen�ed in the proceeding by c�unse[ of Lender's own choice, and
<br /> T�ustor will deliver, or cause to be del��er�d, �o Lender such instruments as Lender may request from �ime tv time
<br /> to permi�such participation.
<br /> Compfiance VIlith Laws. Trus#�r warrants that the PrQperty and Trustar's use af the Property complies with all
<br /> existing applicak�le laws, ❑rdinan�es, and regulations of gvvernmental authorities.
<br /> Sur�i►ral of Prvm�ses. Ali promises, agreemen�s, and s�atements Trustar has made in this Deed af Trust sha�l
<br /> sur�ive the �xecu�ion and de�ivery�fi this De�d af Trus�, sha11 be �onfiinuing in nature and shals remain in full fvrce
<br /> and effec�un�il such time as Trus�ar's indebt�dness is paid �n full,
<br /> ExISTING �NDEBTEDNESS. The fall�wing pr��isions concerning Existing Indeb�edness are a part vf�his De�d vf Trust:
<br /> Existing Li�n. The li�n vf �his Deed of Trust securing �he Ind�btedness may be secandary and inferior to an
<br /> exis�ing lien. Trustor express�y �ovenants and agrees to pay, vr see to the payment o�, the ExistEng lndebtedness
<br /> and tv pre�ren�any defiault an such indebt�dness, any defaul�under the ins�rum�nts ��id�ncing such indeb�edness,
<br /> or any default under any security dacuments f�r su�h indebfiedness.
<br /> No Modif"rGation. Trus�or shall not enter int❑ any agreemen� wi�rh the ho[d�r �f any mortgage, d�ed �� trust, or
<br /> other security agreemen� which has priarity a�er this Qeed of Trus� by which tha� ag�eemen�k is madified,
<br /> amend�d, ex�end�d, or renewed without the privr written consent of L�nder. Trustor shall neither request nor
<br /> accept any future advances under any such security agreement with�ut the prior wri�ten c�nsen�of L�nder.
<br /> CDNDEfUINATI�N. The fallowing proWisions�elating to condemnati�n proceedin�s are a part af�khis Deed of Trust:
<br /> Pro�se�ings. If any pr�ceeding in condemnat��n is filed, Trustor sha[I pramptly notifiy Lender in writing, and
<br /> Trus�or shal! promptly take such steps as may �e necessary to def�nd the a�tion and ob�kain the award. Trust�r
<br /> may b�the nominal party in such proceeding, but Lender shall b�en�itl�d to parti�ipate in�he proceeding and to �e
<br /> represented in the proceeding by counsel o� its own choice, and Trustor will deli�er �r cause to �e deli�ered tv
<br /> Lender such ins�ruments and dacumen�ation as may be re�ues�ed by Lender fr�m �ime t� time ta permit such
<br /> parti�ipati�n.
<br /> Applicativn of Ne�Pro�eeds. lf al{ or any part❑f�he Praperty is candemned by eminent dvmain proceedin�s �r by
<br /> any proceeding or purchase in lieu of c�ndemna��on, Lender may at its el�ction requir�that all or any por�ion of�he
<br /> net pro�eeds o�F the award be applied to the fnd�btedness or �he repair or res�ara�ion of �he Property. The net
<br /> pr�ce�ds of the award shall mean the awa�d a��er payment of al� reasonab�e cvsts, expenses, and attvrneys' fees
<br /> incurr�d by Trus�ee or Lend�r in c�nn��tion with th�can�emnation.
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