|
��15���SS
<br /> �:��.�:��� �.��=A `�`�.�����
<br /> ��:.����������� � ���� �.
<br /> any p�oceeds after p�yment in �uli af �he Indehtedness, such pt-o�eeds sh�l! �e paid to 7�ru�to� as T�-ustor's
<br /> interests may appear.
<br /> Camp�ian�� v+ri�h �xis�ing lr�debtedness. During the periad in which any Existing lndebtedne�s deseribed below is
<br /> in e�fiect, compliance w�th �he insuran�e pra�isians contained in the instr-ument e�idencing such Exisfing
<br /> Indebtedness sh�l1 ��ns�i#u�e campliance wi�h �he insurance pro�isions under �hi5 Deed of Trus�, �o #he extent
<br /> compl�ance wi�h �he terms �f this Deed of Trus�would cons�i�ute a duplica�ion of insurance �equirement. !�any
<br /> � proc�eds from �he insu�-ance become payab�e on loss, the pravisions in this ❑eed af Trus#for division of proceeds
<br /> shali app�y on�y to tha#pt��fiiat� of the proceeds not payable�o the holde�o�the Existing �ndebtedness.
<br /> LFNDEF�'S ��PEND�Y��ES. �� Trustor fails �A} to keep the Property fc-ee af all taxes, liens, securi�y inte�ests,
<br /> encumbrances, and other claims, �B} to pro�ide a�y required insurance on the Prop�rty, �C} to make repai�-s to �he
<br /> Property or- to comply with any obliga�ion �o maintain Existing Indebtedness in good s�anding as requE�ed be�ow, then
<br /> Lender may do so. f� any acti�n or �roceeding is commenced �hat would material�y a�fe�# L�nder's interests in fhe
<br /> P�aper�y, then Lender on Trustor's behaif may, bu� i� n�� required to, �ake any ac��on tha� Lender belieVeS t� be
<br /> appropr�a#e �o p�-otec� Lender's interests. A!I expenses incur-red or paid by Lender �o� SLlCI� pLli"p05�5 wi11 then bea�
<br /> interes� at �he ra�e charged under th� Credit Agreemen� from the da�e incurred or paid by Lender �� �he date af
<br /> repayment by Trustor. All such expenses wiil bec�me a par���the �ndebtedness and, at Lender's option, vvi!! �A} be
<br /> payab�e on demand; �g} be added �o �he baiance of fhe �redif Agre�ment and �e appartioned among and be payable
<br /> w��h any ins�al(ment payments tfl become due during ei�her. �'f} �he�erm a�F any app�icabie insurance poliGy; or �2} the
<br /> remaining �erm of the Credit Agreement; a�- �G} be trea�ed as a ba�laon payment which wilC be �fue and paya�le at the
<br /> _ Credit Agr�ement`s rna�ur��y. The Deed of Trust also wilI se�u�e payment a��hese amounts. The �igh�s pro�ided for in
<br /> this paragraph shall be in addition �o any other r�gh�s or any remed�es tfl which Lender may be enti��ed on aecount of
<br /> - any de�aul�. Any such action by Lender shall not be con��rued as curing the de�au�t so as to bar Lender from any
<br /> remedy that��otherwise woufd have had.
<br /> WA�RANTY; DEFENSE�F TITLE. The following proWisions rela�ing to owne�sh�p af fhe Property are a part af this Deed
<br /> o�Trust:
<br />� Ti�le. Trus�or v�arrants that: �a} Trustor holds gaad and marketabfe title o�recard fio the Praperty in �ee simple,
<br /> fr��e and c�ear of all liens and encumbrances other�han those se� for�h in the Real Proper�y description or in fhe
<br /> Existing �ndebtedness section below or in any title insurance policy, tit�� reporf, or fina�title opinion issued �n faWor
<br /> a�, and accepted by, �.ender in connect��n with �his Deed o�Trust, and �b}Trustar has the ful[ �igh#,,power, and
<br /> autho�ity ta execute and deli�er fh�s Deed of T�-us#to Lender.
<br /> Def�nse of Ti'�le. Subjec� to �he exception in #he paragraph abo�e, Trus�ar warran�s and wi�! fore�e�- defend �he
<br /> title to the Property a�ainst the iavv�ul claims of all persons. ln the e�ent any ac�ion ar proceeding is cornmenced
<br /> that qu�stions Trustar's#i�le or the tnterest of Trus�ee or�Lender under#his ❑eed af Trust,Trusfor shall defend the
<br /> action at Trus�or`s expense. Trustor may be the nominai party in such proceeding, but Lender shal� be�n�i�led to
<br /> par�icipa�e in the p��ceeding and #o be rep�esented in th� �roceeding by counsel of Lender's own �hoice, and
<br /> Tru�tor wi�! deli�er, ar�ause to �� delivered, t❑ Lender such instruments as Lende�-may�equest from t�me fio time
<br /> - t�permit such pa�ti�ipat�on.
<br /> Compliance 1l�Ji�h Laws. Trustor wa�rants �ha� �he Property and Trus�or's use of the Property �amplies with ��l
<br /> existing app�icable laws, ordinances, and �-egu�ations of�fl�ernmen�al authori�ies. .
<br /> Survi�ai of Pramises. AI� promises, agreemen�s, and statements Trustor has made in �h�s Ueed of T�ust shai�
<br />� sur���e fhe execution and deli�ery of fhis De�d o�Trust, shal� �e cont�nu�ng in nature and shal! remain in ful��arce
<br /> and�ffect unti�such time as Trustor's lndebtedness is paid ir�fu��.
<br /> i��iS�'lN�IND�BT�UNESS. The�ol#ow�ng pro�isians concern�ng Ex�st�ng lndebtedness are a par�o�this Deed of Trust:
<br /> Ex�sting Li�n. The lien of this De�d �f Trust secu�ing the indebtedness may be secondary and infe�ior to an
<br /> ex�sting lien. Trusto�-expressly co��:nants and agrees�o pay, or see to the payment af, the Ex�sting Indebtedness
<br /> and to pre�ent any defaul�on such indebt�dness, any defaul�under the ins�ruments e�idencing such �ndebtedness,
<br /> �or�ny default unde�any security documents�or such indebtedness.
<br /> No 11�odi�icatian. Trust�r sha11 nflt enter int� any agre�ment with the ho�der o� any mortgage, deed of trus�, �r-
<br /> other s�curi�y agreemen� which has priority o�e� this C�eed o� Trust by whi�h thafi agreemen� is modified,
<br /> amended, extended, ar renewed withou� the priar wri�ten consent o� Lender. Tru��or shall nei�her request nor
<br /> acc�pt any fu�ure advances under any such security agreement withaut the pr�or written�onsent o�Lender.
<br /> �C�N�3��NATlC3hl. The foflawing provisions reiating to condemnation proceedings ar�a part�f this Deed of Trust:
<br /> Proceeding�. I� ar�y proceedirrg in canciemnat�on �s fi�ed, Trusfor shall promp��y nati�y Lender in wri�ing, and
<br /> Trustor shall prampt�y take such steps as may �� necessary to defend the action and ab�ain the award. Trus�ar
<br /> may be the nom�nai par�y in such proceeding, but Lender shall be entitled to par��cipate in th� pr�aceeding and �a be
<br /> rep�esen�ed tn the proceed�ng by caunse! o� �ts oWvn chaice, and Trus#or wii� d�li�e� or cause ta be deli�ered to
<br /> L�nder such ins�ruments and da��amentation as may be ��que�ted by Lender �ram time �o time �o permit such
<br /> pa�ic�pation. . . .
<br /> App���a�ior� o��e� �r����ds. �f�i� or any pa�t a�the Pr�oper�y �s candemned by eminent dflmain proceed�ngs or by
<br /> any proc�eding or pur�hase �n lieu o��ondemna#ion, �.cnde�may at i�s el�ction r�quire�ha�al� or any portion af�he
<br />
|