|
- ��15�3335
<br /> �
<br /> C�EED �F T'RUST'
<br /> ��ontinued� pa�e ,4.
<br /> shall apply only to�ha�por�ion of�he proceeds not payabie�o the holder nf#he Existing Indebtedness.
<br /> LENDER'S EXPENDITURES, lf Trustor �a�ls �A} to keep the P�aperty free ❑� a�l taxes, liens, security interests,
<br /> encumbrar�ces, and oth��claims, �B} ta pro�ide any requi�ed insurance on #he Prape�ty, �C} t� make repai�s ta the �
<br /> Property or ta comply with any obliga�ion to maintain Existing In�eb#e�ness in good s�anding as required below, then
<br /> Lender may do so. If any action or proceeding �s commenced that wou�d materially af��ct Lender's in�eres�s in �he
<br /> Proper�y, #hen Lender on Trus�or's behalf may,� but is n�t requi�ed to, take any action that Lender_belie�es tv be
<br /> appropria�e tv protect Lender`s interes�s, All expenses incurred or paid by Lende�-far such purposes wiil then bear �
<br /> interest a# the rate �harged under the Credit Agreement from �he dafe incurred or paid by Lende�- ta the date o�
<br /> repayment by Trustvr. All such expenses wi11 b�come a pa�#o�the lnd�btedness and, at Lender's option, will �A} be
<br /> payable on demand; �B} be added ta the balance o�the �redit A�r�ement and be appor#ian�d among and be payable
<br /> wi�h any installment payments to become due during eifher ��} the term o�any applicable insurance policy; or ��} the
<br /> remaining term o�#he Credit Agreement; or �G) be treated as a bailaan payment wh�ch wiif be due and payable at the
<br /> Credit Agreement's maturity. The Deed of Trust also wi�! secure payment af fhese amounts. The r�ghts pra�ided f�r in
<br /> �h�s paragraph shall be in addition �o any o#her rights ar any �emedies to which Lender may b� en�itl�d on accaunt of .
<br /> any defiault. Any such ac�ion by Lende�- sha�l not be construed as curing #he de�au[� s� as #a bar Lender �'ram any
<br /> remedy that it o�herwise wo�ulc#ha�e had.
<br /> WARRANTY; [3EFENSE 4F T1TLE. The foilowing �ro�isions rela�ing to ownership of�h�Property are a park��'this De�d
<br /> of Trus�:
<br /> Title. Trust�r wa�rants �hat: �a}Trustor holds g�od and marketable title of record ta the Property in #e� simp�e,
<br /> free and cl�ar of all �ie�s and �ncumbrances other than those set forth �n the Rea� Prope�ty description �r in the
<br /> Existing Indebtedness sec#ion b�low o�in any��t1e insurance poiicy, tit[e repor�, a�final ti�l�opinion issued in favor
<br /> �f, and a�cepted by, Lender�n canne��ion with this Deed o�Trust, and �b}Trustor has the �u�� righ�, power, and
<br /> authority to execute and deli�er this Deed of Trust ta Lender.
<br /> �efense of Ti�le. Subjec�to the exception in the paragraph aba�e, Trustor warrants and wi�� fore�er de�end the
<br /> �itle to th� Property against the law�u# claims of al� persans. ln the e�ent any action or proceeding is cammenc�d
<br /> that questions Trus�or's tit�e or the inferest of Trus�ee or Lender under this ❑eed af Trust,Trustor shall defend the
<br /> ac��an a�Trustor's expense. Trus�o�may be the nom�nai party in such proceeding, bu� Lender shall be�ntitled to
<br /> par�icipate in �he proceeding and to be represen�ed �n �he pr�ceeding by counsel af Lender's own cho�ce, and
<br /> Trusto�-wi�! deli�er, o�cause�v be deli�e�-ed,ta Lender such ins�ruments as Lender may request�rom��me to�ime
<br /> to permi�such partic�pation.
<br /> Cvmpl'rance 1N��#h Laws. Trustor warran�s that the Prope�ty and Trus�or`s use o�the Property �ompl�es wi�h a�l
<br /> existing app�icable iaws,ordinances,and regula#ians of ga�ernmental au�hari�ies.
<br /> Sur►►i�al of Prnmises. A[� promises, agreements, and statements Trusto�- has made in this ❑eed o�Trust shalf
<br /> surv€�e th� execution and deli�ery af this Deed of Trust, shall be continuing in nature and sha�� remain in fu�i for��
<br /> and effec#unti�such�ime as Trustor's Ind�btedness is paid in�u�l.
<br /> EXISTING INDEBTEDNESS. The following pro�isions concerning Existing �ndebt�dness are a part af this Deed af T�us#;
<br /> Existing Lien. The I�en ofi this Deed of Trust secu�-ing #he Indebtedness may be secondary and infe�-ior ta an
<br /> - exis�ing lien. Trus�or�xpressly co�enants and agrees to pay, ar see t�the paymen#af, �he Existing Ind�btedness
<br /> and to pre�en#any de�auft on such indebtedness, any d�fau�t under the ins��umen�s e�idencing such ind�btedness,
<br /> o�any defau�t under any security dvcuments fQ�such ind�btedness.
<br /> No Modi�icatian. Trustor shall not en#e�- into any agreement v►rith the halder af any mortgage, deed af�rust, or
<br /> other secur�ty agreement which has privri#y o�e� this ❑eed a� Trust by which that agreemen� is modified,
<br /> amended, ex�ended, or renewed withau� the prio�- written consent of Lender. Trustar sha�� neithe� request nor
<br /> accept any future ad�ances under any such security agreement without the prior w�-it�en consent af Lender.
<br /> C�NOEMNAT�QN. The fa�lowing pra�isions rela�ing to cond�mnation proce�dings are a pa�t of�his Deed❑f Trust:
<br /> Proceedings. I� any proceeding in cond�mnation �s filed, Trus��r shall promptly no#i�fy Lender in writing, and
<br /> Trus#or shail pramp#ly take such steps as may be necessary_fo def�nd the action and obtain the award. Trustor
<br /> may be�he n�minal party in such proceeding, but Lende�-shalf�e�ntitled to part�cipate in the proceeding and to be
<br /> � represen�ed in the pro�eeding by counsel of its o►rvn ch�ice, and Trus�or wi�i deli�er ar cause to be deli�e�ed to
<br /> Lend�r such instrumen�s and documen�ation as may be requested by Lender from time �a time ta permit such
<br /> par�icipatian.
<br /> Appli�at�an of Ne# Proceeds, lfi al)❑r any part of the Praps�ty is condemned by eminen�domain proceedings❑r by
<br /> any prflceeding or purchase �n �ieu of�ond�mna�ion, Lend�r may at its election requi�e that all ar any por��on of#he
<br /> ne# prviceeds of�he award �e applied to #he �nd�bfiedness or the repai� or rest�ration vf#he Proper�y. The net
<br /> proce�ds of the award sha�l mean the award after paymen�af a!I reasanab�e cvsts, �xpenses, and atto�neys'fees
<br /> - incurred by Trus���o�Lender�n connectian w�th�he�ondemnation.
<br /> IMP�SITI�N �F TAXES, FEES AND �HARGES BY�QVERNIIAENTAL A�THQRITIES. The foilowing pro�isivns relat�ng
<br /> ta gQ�ernmenta�taxes,fees and charg�s are a part of this D�ed of Trust:
<br /> Current Taxes, Fees and Charg�s. Upvn reques# by Lender, T�-us�or shall ex�cute such documents in addition to
<br /> this Deed v�'Trus#and take whate�er othe�-action is requested by Lender ta pe�fect and con��nue Lender's lien on
<br />
|