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��15�3�77
<br /> �EE� oF T�us-r
<br /> ��[]tltinu�d} Page 3
<br /> PROPERTY DAIViAGE INSURANCE. The �follawing pro�isians r�lating to insuring the Praperty are a part of fihis Deed of
<br /> Trust.
<br /> Main#�nance o� Insurance. Trustor shafl procure and maintain policies of fire insurance wi�h standard extended
<br /> ca�erage �ndors�ments on a rep[acement basis for the ful! insurable �alue cv�ering all Impro�emen�s on the Real
<br /> Proper�y in an amount suf�icient t� a�oid app�ication vf any coinsuran�� �lause, and with a standard mortgagee
<br /> clause in fa�ar a�r Lender, tageth�r with such❑ther hazard and liability insuran�e as Lender may reasvnably require.
<br /> Pvlicies shall be v►►ritt�n in �arm, amounts, co�erages and basis reasonabfy a��ep�table t� Lender and issued by a
<br /> campany or companies reasanably accepfiahle to Lender. Trustvr, upon request of Lender, will deli�er to Lender
<br /> frvm time��time the pa��cies or certifiGates�f insurance in form satisfactary to Lender, including stipulations that
<br /> coverages will nat be cance�led or diminished wi�thvut at least thirty �3�j days priar wri�ten notice t❑ L�nder. Ea�h
<br /> �nsurance policy also shal! �nciude an �ndvrsement pro�iding that co�erage in fa��r af Lender ►r►rill not be impaired
<br /> in any way by any act, omission ar default of Trus�or or any vther person. Should the Real Property be Io�ated in
<br /> an ar�a designated by the Administrator ofi the Federal Emergency Managem�nt Agency as a special flvod hazard
<br /> area, Trustor agrees to o��ain and maintain Federal Flood Insuranc�, if a�a��able, for the maximum amoun�t af
<br /> Borr�w�r's credi� line and �he full unpaid principal halance af any prior liens on the praperty securing the laan, up
<br /> to the maximum pali�y [imits set under the National Flood Insuranc� Pragram, or as otherwise required by Lender,
<br /> and tv main�ain su�h insurance#or�he term of th� I�an.
<br /> Appli�atian o� Prviceeds. Trustor sha11 pramptly notify Lender ❑f any [oss or damag� to the Praperty if the
<br /> estimated �os�of repair or repla�em�n�exceeds $1,���.n�. Lender may make proof of�oss �f Trus�tor#ails t� do
<br /> so within fifteen ��5� days of the casualty. VVhether ar not Lender's secur�ty is �mpaired, Lender may, at Lender's
<br /> el�ctian, re�ei�e and re�ain the proceeds af any insurance and app�y �h� proceeds to the reduction Qf the
<br /> Indeb�tedn�ss, payment �f any fien affecting the Property, or �he restorat�vn and repair af the Property. lf Lender
<br /> elects to apply the praceeds to restora�ivn and repair, Trustor shall r�pair or repface th� damaged or destroyed
<br /> lmpro�ements in a manner sa�isfa�tory to L�nder. Lender sha�l, upan satisTractory prvaf o�su�h expenditure, pay
<br /> ar reiml�urse Trustor from the praceeds �or the reasonable cost o� repair or restorati�n if Tru�tor is not in de�ault
<br /> under this Deed af Trus�. Any pro�eeds which ha�e not b��n disbursed within �S� days after their receipt and
<br /> whi�h Lender has no# commi��ed t❑ the repair vr �estaratian of the Prop�rty shall be us�d first ta pay any amount
<br /> owing ta Lender under this Deed of Trust, then to pay accru�d int�rest, and th� remainder, if any, shall be applied
<br /> t� �he principal balance �f the Indebtedness. If L�nd�r holds any proceeds after payment in �ull ❑f the
<br /> Ind�btedness, such proceeds shall he paid�v Trustvr as Trustor's int�rests may app�ar.
<br /> Compl�ance wi�h Existing �ndebtedness. During the period in which any Exist�ng lndek�t�dn�ss described k�elaw is
<br /> in effec�, camplian�e with the insurance pro�isions �ontained in �he instrumen# e�idencing such Exis�ing
<br /> Indebtedness shall �anstitute camplian�e with the insurance prv�isions under this Deed of Trust, to the extent
<br /> compliance with fihe te�ms o� this ❑eed o� Trust would cvnstitute a dupli�ation afi insurance requirement. if any
<br /> pro�eeds frflm the insurance beG�m� paya�le on �vss, the pra�isiQns in this ❑�ed of Trust for di�isian of prv�eeds
<br /> shall apply�n�y to that portian of�kh� praceeds not payable tv�he holder�fi the Existing Indeb�edness.
<br /> LENDER'S EXPENDITURES. lf Trustor fails �A} ta keep the Property free of all taxes, fiens, security interests,
<br /> encumbrances, and other claims, {B� ta pro�ide any required insuranc� an the Property, �C� to make repairs to the
<br /> Praperty ar to �amp�y with any �bligation tv ma�nta�n Existing Inde�t�dness in goad standing as �equired �elow, then
<br /> Lender may do s�. 1f any action or proceeding is c�mmenced that wou�d mate�ially af#ect Lender's interests in th�
<br /> Praperty, then Lender on Trustor's behalf may, but is n�t required tv, take any a�tion that L�nder belfe��s t� b�
<br /> appr�pr�at� t� protect Lender's interests, All expenses incurred or paid by L�nder for such purpases will then bear
<br /> interest at the ra�e �harged under �he Credit Agreement from the date incurred ar paid k�y Lend�r to the date of
<br /> repayment by Trusfior. All such expens�s will be�ame a part o�f the Indebtedness and, at L�nder's option, will �Ay be
<br /> payable �n demand; �B� be added to the balance of the Credit Agreement and be appartioned amang and be payable
<br /> with any installment paymenfis t� �ecome du� during ei�her {�� the term of any applicable insurance palicy; ar �2} the
<br /> remaining term o�f the C�edit Ag�eement; or �C� be trea�ed as a ballvon payment which will be due and payable a�the
<br /> Credit Agreement's maturity. The Deed of Trust also w�ll secure payment of these amaun�s. The rights pro�ided far in
<br /> this paragraph sha�l �e in additi�n �� any vther r�ghts ar any remedies to whi�h Lender may b� entitled on a�cvunt of
<br /> any de�fault. Any such a�tion by L�nder shall nat be cvnstrued as curing the default s❑ as ta bar Lender from any
<br /> remedy that it otherw�se wou�d ha�e had.
<br /> 'WARRANTY; DEFENSE�F TITLE. The following pra�isions reiating to❑wnership of th� Praperty are a part of this ❑eed
<br /> of Trust:
<br /> Ti�i�. Trustor warrants that: �ay Trustar hotds good and markstahle �title of rec�rd to the Pr�perty in �ee simple,
<br /> free and clear of all liens and en�umbrances ❑ther than thase set �orfih in the Reai Pr�perty des�ription ar in th�
<br /> Existing Indebtedness sectian below or in any ti�le insurance policy, �it�e r�port, vr f�nal title opinion issued in �a�or
<br /> of, and a�cepted by, Lender in �onnection with this Deed afi Trust, and �bf Trustor has the full ri�ht, power, and
<br /> auth�rity tQ execu�e and deli�er this Deed of Trust to Lender.
<br /> D��ense of Title. Subject to the exceptivn in fihe paragraph abo�e, Trustor warrants and will fare�er defend the
<br /> title tv the Praperty against the law�ul claims o�f all persflns. ln the e�ent any a�tian or proceeding is cQmmenced
<br /> tha�questions Trustor's title or the interest of Trustee or Lender under this Deed af Trust, Trustvr shall defend the
<br /> actian at Trustor's expense. Trust�r may�be the nominal party in such proceeding, but Lender sha11 be entitled tv
<br /> participat� in the proc�eding and to be r�pres�nted in the proceeding by cvunsel af Lender's own �hoice, and
<br /> Trustor wi[L deli�er, vr�ause#v be deli�ered, tv Lender such instruments as Lender may request�rom time to time
<br /> �o permit such participa�tion.
<br /> �ompliance Wifih Laws. Trus�vr warrants that �the Property and Trustor's us� of the Property �omplies with all
<br /> existin�appli�able lavus, ardinan�es, and regulatians of governmental authorities.
<br /> Sur�i�a1 v� Pramises. All pram�ses, agreements, and statements Trustor has made in this Deed of Trust shall
<br /> sur�ive�he ex�cution and deli�ery o��h�s �eed of Trust, shall be �ontinuing in nature and shall remain in full for�e
<br /> and effec�until such tim� as Borrov+rer's Inde#�fiedness is paid in full.
<br /> EX[STING �NDEBTEDNESS. The�ollowing pr��€sians c�ncerning Existing f ndeb�edness ar� a part o#this ❑eed af Trus�:
<br /> Existing Lien. The lien of this De�d of Trust securing the Indebtedness may b� secflndary and inferior �� an
<br /> �xisting lien. Trustar expressly �a�enants and agrees tv pay. or see ta the payment v#. the Existing Indeb�edness
<br /> and #o pre�ent any de�ault vn such indebtedness, any defauit unde�#he instrumenfis e�id�ncing such ind�btedness,
<br /> ❑�any de€auft under any s�curity documents far such indehfiedness.
<br /> No Mndi�i�ation. Trustor shall no� enter into any a�reement w�fih fihe haider of any mvrt�age, d��d of trust, or
<br /> �ther s�curity agreement which has priority ���r this ❑eed af Trust by which that agreement is madified,
<br /> amended, ex�t�nded, or renewed v►ri�hout the prior wri�ten cons�nt of L�nd�r. Trustor shall neither request nar
<br /> a�cept any future ad�ances under any such security agreement without fihe pri�r written Gvnsent❑fi Lender.
<br /> ��NOEMNATI�N. The follawing pro�is�ons rela�ing to cvndemnati�n pr�ceedings are a par#afi this Deed of Trus�:
<br /> Pro�eedings. If any proceeding in cvndemna�ion is filed, Trustor shall pramptly n�tify Lender in writing, and
<br /> Trustor shall pramptly tak� such steps as may be necessary to defend the action and obtain the award. Trus�or
<br /> may be�he nominal pa�ty in such proceeding, but Lender shall be entitled to participate in the proceeding and�o be
<br /> represented in �he proceeding hy cvunsel af its ❑wn chai�e, and Trustar will deli�er or cause to be deli�ered t❑
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