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��15�5774
<br /> t�EED �F TRUST
<br /> �Cv�ntinued� Pag� 3
<br /> the maximum palicy limits set under th�fVativna� Fi�od Insuranc�Prog�am,or as�therwise required by Lender,�nd
<br /> ta ma�ntain such insurance f�r the t�rm Qf the�oan.
<br /> Ap�pli�atian of PraGeeds. Trus�or shall promptly notify Lender nf any lass ❑� demage to the Prvps�ty if the
<br /> es�ima�ed �ost of repair ar cepl�cem�nt exceeds $1 Rooa.��. Lender rnay rnake proo�of ioss i�Trustor fai#s tv�do
<br /> so within iifteen �15] days o�the casualty. Whether❑r nat Lender's seGurity is impairec�, Lendsr may, at L�nder's
<br /> e�ecti�n, r���i�e and r�tain the proceeds of any insurance and apply the proce�ds to the reductian of the
<br /> Indebtedness, p�ayment c�f any �ien af�8cting the Pr�perty� ❑r the res�aration and r�p�ir of the Prope�rty. If Len�er
<br /> el�Gt� ta apply the prvc�eds ta restvratia�n and r�pair, Trustor shall r�pair ar replace the damaged or destroyed
<br /> Impro�em�nts in a rnann�r satistactory to L�nder. Lender shall. upon sat�sfactary proo#of such�xpendi#ure, pay
<br /> or r�imburse Trustar frvm the proce�ds for the reasonablg cost of repai�ar restoratian if Trustar is not i� def�u�t
<br /> under this Deed ❑f Trust. Any pr�ceeds which hsu� not hesn disburSed w�thin 1$� days after thair receipt and
<br /> which Lender has n�t committed#o the repair or restorativn vf the Prvperty shall be used f�rst to pay any amaunt
<br /> owing tv Lender under this Deed qf Trust, then ta pay a�crued interest, and the remainder, if any, shall be applEed
<br /> tn the principal balanGe of the Indebtedness. If Lender holds any prace�ds after payment in full vf the
<br /> Ind�btednes�,su�h praceeds shall be paid to Trustor as Trustor's interests may appear.
<br /> LENDEf�'S E?�PEND�TURES. lf Trustar fails �A� to I�eep the Praperty fr�� ❑f a11 �axes, lians, s�curi�y ir�terests,
<br /> encumbrances, and other claims, [6� tv pro��de any required insuran�e on the Property, ar {C� t❑make repairs�v the
<br /> Property th�n Lender may do so. ff any action or p�roceeding is camm�n�ed that would materia�ly affe�t Lender's
<br /> intere�ts in the Pr�pert�, then Lender ❑n Trustar`s behaif m�y. but is not required to, take any action that Lender
<br /> belie�es to be appr�pria�e tv prfltect L�nder's interests. All expenses incurr�d or �aid by Lender for such purp4ses wiil
<br /> then bear int�rest at the rate charged under the Credit Agreement fram the date in�urred or paid by L�nder to the dats
<br /> af repayment by Trustar. All such expenses wil! �e�orne a part o�the indehtednes�and, at Lender's �ption, will �Ay
<br /> be paya�Ie an demand; �Bf be added #o the �alance of th� �redit Agreement and be�apport�oned among and be
<br /> payable with any installment paym�nts to beGvme due during ei�her �1 y th�term❑fi any appiic�hl�insuran�a pali�y; ar
<br /> (�] the remainin�tarm of the�redit Agreemsnt;�r �C� be treated as a hallaon payment which will be due and payable
<br /> at the Credit Agresrnent's maturity. The De�d o#Trust alsv wili sBcure payment a���k�ese�maunts. The righ#s p�ro►►ided
<br /> for in this para�r�ph sha��be in additivn tv any other rights or any rem�di�s ta whi�h Lender rnay be entitled on �ccvunt
<br /> �f any default. Any such action by �ende� shall not ba �onstrued as curing the d�fault s� as ta bar Lender from any
<br /> remedy that it atherwise would haWe had,
<br /> VIIARRANTY; []EFENS�OF T�TLE. The faltawing pro�isivns relating ta❑wn�rship a�th�Praperty ar�a part�t this Deed
<br /> of Tru�t:
<br /> Titlg. Trustor w�rrants that: iay Trustor holds goad and market�bie title af record t❑the Prvper�y in fee sirnp�e,
<br /> #ree and clea�r o�all �iens and encumbrances other than thvse set fvrth in th� R�al Praperty des�ription or in any
<br /> title insurance palicy, title repart, nr finat tt�le opinion ��sued in �avor af, �nd accepted by, Lender in connectian
<br /> with this Qeed at Trust, and tb�Trustor has the full right. p�ower,and author�ty ta execute and deli�a�this Deed af
<br /> Trust ta Lender.
<br /> D�fense of Titla. Subject tQ the excepti�n in the Raragraph abo�s� Trus��r warr�nts and wilt #ore�er def�nd the
<br /> title to the Property against the lawfu! claims ofi a1�pe�sans. In the e�ent any action or proceeding is commenced
<br /> that questivns Tru�tvr's title a�#he interest of Trustea ar Lsndsr under this Deed o#Trust,Trustor shall defend the
<br /> ect�an at Trustor's axpense, Trusto�m�y be the n�m�nal party in suGh pro�eedin9, but Lender ahall be entitled tv
<br /> participate in th� pr�ceeding �nd to be represented in thg proceeding by counsal of Lender's own choice, and
<br /> Trustvr w+ll deli�er. or cause tv be deli�er�d, ta Lender such ins#ruments as Lender rr►ay request fram time �v tima
<br /> to p�rmit such parti�ipation.
<br /> Cvmpiianc� With Laws. Trustvr warrants that th� Prvperty an� Trustor's use af the Property complies with al�
<br /> eacisting applicable�aws�vrdin�n�es��nd regulatians af gv�ernmental�uth�rities.
<br /> Sur►►ival �# Pramises. All promises, agreements, �nd stat�ments Trustt�r has made in this Daed ofi Trust shall
<br /> sur�iW�the ex�cutian and deli��ry of this Deed af Trust, shall b�cantinuing in nature and�hall remain;n full f�rce
<br /> and effect unt��such time as Trust�r's Indebtednass is paid in fulf.
<br /> G�NDE�NAT��N. The�ollvwing pravisions re#ating to c�ndemnation RrQceedings are a par�of this Deed of Trust:
<br /> �roc�eding�. �f any praceedin� in condemnati�n is fi�e�, Trustor shal� promptly noti#y L�nder in writing, �nd
<br /> Trustar shail pramptly take suGh step� as may be ns�essary t� defend the ac�iQn an� obtain the award. Trustvr
<br /> may be the norninal party in such proceeding, but Lsnder shat�be�ntitl�d to p�rticipete sn the praceeding and t❑be
<br /> rep�esented in the proceeding by caunsel of its Qwn Ghoice► and Trusfivr will de�i�er or �ause t❑ be deli�er�d ta
<br /> Lender �uch instrument� and documentati�n as may he� requestet! hy Lender fram time to tim� ta p�rmit such
<br /> par�icipatian.
<br /> App��catian of Net Pro�aeds. If al!ar any part❑f the Property is candemned by eminent domain proceedir�gs ar by
<br /> any proceeding or pur�hase in lieu vf candemnativn, Lender may at its election requ�re that all�r any portian�f the
<br /> net proceeds ot the award be app�ied to the �ndebtedness or the repair or restora�ion of the Property. The net
<br /> praceeds of the award shait mean the awa�d after payment Qf atl reasanahie�c�sts, ex�enses, and attarneys' fees
<br /> in�urred by Trustee or Lender in�vnnectivn with the condemnatinn.
<br /> �MR�SITI�N QF TAXES, FEES AN❑ GHARGES BY G4VERNMENTAL AUTH�RITiE�. The fol�awing pr��isivns relating
<br /> �❑governmentai taxes,fees and charges are a p�rt of this Qeed of Trust:
<br /> Current T�xes. Fees and Charges. Upon request by Lender, Trustar shal� execute such documsnts in addition t�
<br /> this Deed af Trust and take whate�er oth�r activn is requested t�y Lender to perfe�t and cvntinue Lender's li�n c�n
<br /> the Real Proper-ty. Trustvr shall reirnt�urse Lender for al� taxes, as dssccibed taelaw, tvgether with ati expenses
<br /> incurred in recarding, perfe�ting or cantinuing tihis Dee� of Trust, including withaut lirnitatian ell taxes, fee�,
<br /> dncumentary stam�s�and o�h�r charges for r�c¢rding vr regist�ring this Qeed�f Trust.
<br /> Taxes. The fallawing shall constitute t�xes to which this se�tian appries: t i y a specific �ax upan this type of
<br /> Deed vf Trust ar upan ali vr any part o�the Inde�t�dn�ss secured by this Deed of Trust; {�� a �pe�ifi� ta� on
<br /> Trustvr whi�h Trustvr is authv�+zed�r required ta deduct�rom payment�vn tfi��lndebtedness secured by this type
<br /> of D�ed af Trust; ��f a tax on this type of aeed�f Trust chargeabl��gainst th�Lend�r or the holder af the Credit
<br /> Agr�ement; and ��4y a spec��ic tex on al! vr any portivn of the �ndebtedness or on payments af principal and
<br /> inter�st made by Trustar,
<br /> Subsequent Taxes. ff any tax ta which thi� sect�vn applies i� �na�ted subs�quent ta th� date of th�s Deed of
<br /> Trust, this e�ent shasl h��e th� same �ffect as an Eaent of ❑efault, �nd L�nder may �xerctse any or all of its
<br /> a�ailable remedies �or an E�ent of De#ault as prv�rided helov►► un�ess Trustor either t 7� peys the tax befvre it
<br /> becom�s d�linquen#. or ��) contests the tax as pro�ide�l�bvve in�he Tax�s and Liens section and dep�sits with
<br /> Lend�r cash or a suf�ic�ent carpora#e surety bond or ather se�urity sati��actvey tv tender.
<br /> SE�IlRITY AGREEMENT; FINANC�NG STATEMENTS, The fvflowing prv�isians relating ta this Deed of Trust as a
<br /> security�greement a�e a part af this❑eed vf Trust:
<br /> Security Agreemant. This instrurnent shaf� cvnstitute a Security Ag�e�rnent ta the �xtent any ❑f the Prvperty
<br /> canstitutes fixtures, and Lender sha!!hav� all af the rights of a secured party under the Unifarm Ga�mmercial��de
<br /> as�mended fram time to time.
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