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��15�5�73
<br /> ❑EEQ DF TI�UST
<br /> {��ntinued� Page �
<br /> the maximum pali�y limits s�t und�r the [Vational Flood Insurance Program, or as otherwise required by Lender, and
<br /> to maintain such insurance far the term❑f the l�an,
<br /> App�ication a# Prac��ds. Trustar shall promp�l� n�ti�y l�ender of any lo�s vr dam�ge �a the Property if the
<br /> estimat�d ea�t of repair or r�pl�cem�nt exceeds $1,���.4D. Lender may make praa�of loss if Trustor�ails to da
<br /> sv within#i�teen ��5� days of the casuai�y. 1Nhether ar no�Lender's s�curity is impaired, L�nder may, a�Lender's
<br /> election, recei�e and retain �h� proceeds ❑f any insuranc� and �pply th� prv�eeds t❑ the redu�tion of the
<br /> Indehtedness, paymen�of any iien affecting the Prvperty, or the res�ora�ion and repair v�the Praperty. 1f Lender
<br /> el��ts t❑ apply the proceeds to restaration and r�pair, Trustvr shall repair ar repla�e :he damag�d ❑r destrvyed
<br /> Impr�vemen�s in a manner satisfa�tory to L�nder. Lend�r shall. upon satisfac�ory provf of such expenditur�, pay
<br /> vr reimburs� Trustor fram the �r�ceeds fvr the reasonahle cQs#af repa�r ar r�starativn i�Trustar is not in default
<br /> under this ❑eed a� T�rus�. Any proc��ds which ha�e �ot been disbursed within 18L� days after their receipt and
<br /> which L�nder has not ��mmitted t❑ tl�e repair ar restorat��n ❑f the Property shal! be us�d first t❑ pay any arnaunt
<br /> awing t❑ Len�ler under this De�d�f Trus�, then tQ p�ay accrued int�rest, and�th� remainder, if any, shall �e applied
<br /> to �he pr�ncipol balanGe nf the Indebt�dness. I� Lender holds any proc�eds a��er payment in fufl of t��
<br /> �ndehtedness,su�h proceeds shall be paid ta Trustor as Trustor's int�rests may appear.
<br /> �ompliance wi#h Existing lndebte�lness. During the perivd in which any Existing Indebtedness described belv►nr is
<br /> in ef�ect, �amplian�e �vith the insuranc� pr��isions con�ained in the instrument evidencing such Existing
<br /> Indebtedn�ss shall cons�itute cvmplian�� with th� insurance prv��sions under this Deed a# Trust, to the extent
<br /> camp�ianGe with the terrns of this Deed vf Trust would �onstituC� a dupli�ation of insurance requir�m�nt. If �ny
<br /> pr�cFeds frpm the insuran�e b�cvrne payabl� an loss, the pra�isivn� in this Deed a�Trust�or di�ision of proc��ds
<br /> shall apply anly ta that portion of the�raceeds not payable to the holder❑�r the Exisiing lndebtedness.
<br /> LENDER'S EXPENI��TURES, If Trustor fails {Af �� k�ep th� Property fr�e �# al! �axes, liens, securiiy interests,
<br /> encumbran�es, and o�her claims, �By #o pra�ide any requi�ed insurance an the Prvperty, ;G� to make repairs to the
<br /> Prvp�rty or ta cvrnp�y with any Qlaligation to maintain Existin� Indebtedness in gaod standing as required belaw, then
<br /> Lender may dv sv. If any a�t�on or pr�c�eding is commenced that wvu�d mat�rially affe�t Lender's interes�s in the
<br /> Property, then Lender �n Trustar's behal# may, but is not requir�d to, take any a�tion fiha# Lender belie�es to be
<br /> appropriate tv prote�t l�end�r's interests. All eacpenses �n�urred �r paid by Lende� fvr such purpv�es will then h�ar
<br /> interes� at the rate char��d under the Credit Agreem�nt �ram the date incurred �� paid by L�n�1er to fih� date o�
<br /> repayment by Tru�tor. All such expenses ►nrill become a part❑�the IndPbtednes� and, at Lend�r's ap�tion, vuil! �A� be
<br /> payab�e on demand: �By be added to the balan��af the Credi�Agreemen�and �e apportioned amang and h� payahfe
<br /> with any installment paymen�s ta be�ome due during eith�r ��f �h�t�rm n�any appli�abfe insuranGe pvlicy; ar ��} the
<br /> remaining tsrm of the Credit Agre�ment; or 4C� �e treated as a bailvvn pa�ment which wi!! be due and payable at the
<br /> Cr�dit Agreement's maturi�y. The Deed af Trust als� will secur� paymen��f these amounts, The rights pra��ded fvr in
<br /> this paragraph shall be in addi�ian t� any vther rights ar any remedies to whi�h Lender may be entitled �n a�caunt �f
<br /> any de�ault, Any such activn by Lender sha!! n�� be construed as curing the d�fault sv as ta �ar Lender from any
<br /> remedy that it ath�rwis�wouid h��e had.
<br /> W►4RRAN�Y: DEFENSE C�l�TITLE. The folldwing pro�Esions relatin�ta ownership tif the PraFerty ar�a part vf rhis Deed
<br /> o�Trust:
<br /> Titls. Trustor warrants that: �a} Trustor halds goad and rnarketa�le ��tfe ❑f record ta the Prvperty in fee simple,
<br /> free and cl�ar af all fi�ns and encumbrances o�her than those set forth in the Reai Property des�ription or in the
<br /> Exis�in� Indebtedness s�Gtian belvw ar in any title insurance pviicy,title repo�t, vr fina!title opinion issued in favQr
<br /> af, and acG�pt�d by, Lender in connectivn with this Deed �f Trust, and {hy Trustar has the fu�i right. paw�r, and
<br /> authvrity ta execute and de[E�er this Qeed❑f Trust tv Lender.
<br /> Def�nse �f Title. 5u�j��t to the exc�p�Ci�n in �he paragraph ahove, Trustar warran�s and will fore�er defend �he
<br /> titfe t� the Proper�y against the �awful claims afi atl persans. In the event any acti�n or proceedin� is comrnen�ed
<br /> �hat questions Trustar's title or the interest of Trustee ar L�nder under this De�d of T�ust,Trustar sha!!defend the
<br /> actian at Trus�or's expense. Trustar may be the naminal �arty in such proc��ding, bu: Lender shall be enti�led tv
<br /> participate in #he prv�eeding and ta be represented in the prace�ding by counsel af Lender's vwn choice, and
<br /> Trustar wi��deli�er, �r cause to be delivered, t� Lender such instruments as Lend�r may request from tim�tv�ime
<br /> ta permit such participa#ivn,
<br /> Campliance With Laws. Trustor wa��ants that #he Praperty and Trus�or's use of �he Property camplies with al1
<br /> exi�ting app�i�a�le laws, ordinan��s, and regulatians o��a�ernmental authorities.
<br /> Sur�i�a� af �'ramis�s. Al� prarnises, agreements, and s���em�nts Trustc�r has made in this deed v�r Trust sh�i!
<br /> sur�i��the execution and deli�ery of th�s Deed of Trust, shall be cvntinuing in nature�nd sha11 �emain in�ull forc�
<br /> and effect until such time as Trustor's Indebtedness is pa�d in�uil.
<br /> ��15TlNG�NDE�TEC]NE55. The following pra�isions conc�rning Existing Indebtedness ars a part of this De�d of Trust:
<br /> Existpnc� Li�n. The �+en af �his ❑�ed �f Trust s��uring the Indebtedness may be s�cvndary and inferior t❑ an
<br /> existing lien. Trus�or expr�ssly �ovenan�ks and agrees�❑ pay, ar see t❑the payment vf, the Existing Indebtedness
<br /> artd to preven�any d�faul�on su�h ind�btedness, any default unde�the instrument�e�iden�ing su�h indebtedness,
<br /> ❑�any d�fault under any security dacurn�nts f��su�h ind�btedness.
<br /> Nv Modification. T�usto� shal! nc�t ent�r into any agreem�:nt wi�th the ho�der ❑� any martgage, deed of trust, or
<br /> ather security agreemen� whiGh has privrity ❑�er this Deed of Trusfi by which that agreem�nt is modified,
<br /> amended, extended, or renew�d without the pr�or written consent of Lender, Trust�r shall neither request nor
<br /> ac�ep�any future ad�ances under any such�ecuri�y agreement with�ut�he privr written consent❑f Lender.
<br /> C�NDEIVINAT��N. The fallawing p�v�isians relating to condemnation �roce�din�s ar�a part of�his❑eed af Trust:
<br /> Prc�ceedings. lf any pro�e�ding in candemnation is filed, Trus�or shall pramptly nati#y Lender in wriring, and
<br /> Trustor sha�! prarnpi�y �al�e suGh steps as may k�u neces�ary to defend th� a�tion and vbta�n the award. Trustor
<br /> rnay be the naminal p�rty in su�h prviceeding, but L�nder shall be�nti�led tv parti�ipate in the prviceeding and t❑ b�
<br /> represented in �he proceed�ng by cvunsel of its awn �haiGe, and Trus�or wiii de�i��r �r cause to �ae deli�ered �a
<br /> Lender such instrumen�s and dacument�tion as may be requested by Lend�r fram time to time to permit such
<br /> parti�ipation.
<br /> �4ppliG�tion a�f Ne#Prviceeds. ��a!I or any part of the Property i� condemned by eminent dvmain praceedings vr by
<br /> any praceeding or purchase in lieu❑f condemnati�n, Lender may at its�iectian require that all ar any portion of#he
<br /> net pr��eed� af the award be applied tQ fihe Inde�tedness ❑r th� repair or resto�-ation of th� Property. The net
<br /> proceeds �f the award shall mean th� award after payment ofi all reasana}a�� cQsts, ���enses, and a�torneys' fees
<br /> incur�ed by T�ustee r�r l�ende�in connec�ion wi�h the cvndernnati�n,
<br /> IIIAP�S�TI�N �F TA�CES, FEES ANQ CHARG�S BY GQVERNlMENTAL AUTHCSRITIE�. The �allowing provisions �elating
<br /> to governmental#axes, f�es and char�es are a part of this Deed of Trus�:
<br /> Current T�x�s, Fees and Gharges. Upan request by Lender, Trustor shal[ execute such do�uments in addition t�
<br /> this Deed af Trust and take what��er❑ther actian is re�{uested by Lend�r ta per�ect and can�inue Lender's lien on
<br /> �the Real Property. Trustor sha11 reim�urse L�nder far all taxes, as d�sG�i�ed below. tog�ther with all �xpense�
<br /> in�urred in recarding, perfe��ing ❑r continuing this De�d of Tru�t, inc�uding ►nri�hvut Iimi�at�4n ail taxes, fiees�,
<br /> do�umentary stamp$, and other charges��r r�cording or registering this DeEd of Tru�x.
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