|
��15�5851
<br /> ���� �� �r�.u��
<br /> ��vnt��u�d} Pag� �
<br /> s�ai� not be cons�rued as curing the defau�t so as ta bar L�pd�r from any remedy�rha�it otherwise wou�d na�e had.
<br /> V1IARRANTY;DE�ENSE�F TITLE. The foilow�ng prov�sions relating ta awnership a�th�Proper��are a part o��his ❑eed
<br /> af T�u st:
<br /> Tit�e, Trustor warrants that: (a}Trustar ho�ds g�ad and marketable tit�e of recard �a t}�e Property in fiee simp��,
<br /> free and clear ofr aE! liens and �ncumbrances other�han #hose set for�h in #he Rea! Property description or in the
<br /> ��cisting Indebtedness s�ction belaw ar in any�itle�nsurance palicy,ti�[e report, �r�inal ti��e opini�n issued in fa�ar
<br /> af, and accepted by, Lende�in connection with this Deed a�Trust, and �b}Trustor h�s�he fufl r�gh�, p�wer, and
<br /> authority�o exec��e and del+�er t�is�eed af Trus��a Lender.
<br /> pefense af T�tte. �ub�e�t fa the excepfi�n in the pa�agraph abave, Trustar warranfs and wi�l for��rer defend �h�
<br /> ti#le to the Proper�y against the lawful c�aims of a�l persans. ln the e�ent any action ar proceed�ng is cammenced
<br /> that questians Trust�r's�it�e or the interest��Yruste�ar Lender un�er this Deed o�Yrust,T�ustar sha!!de�end the
<br /> ac�ian at T�us�or�`s expense. Trustor may �e�he namina� party in such proceeding, but Lender sha[I be entit�ed to
<br /> part�cipate in the pr�ceeding and to be represented in the proc�eding by counse� o��ende�'s flwn �hoice, and
<br /> T�ustnr will deli�er, or cause t❑ be deli��red, t❑ Lender such instrumen�s as Lender may r�ques�fram tim�t��ime
<br /> �a pe�rnit su�h participation.
<br /> Comptiance W��h Laws. Trus�or warrants #hat the Prop�r�y and Trustar's us� o�#he P�ope�ty complies wi�h all
<br /> exis�ing app��cable�aws, ordinan�es, and regulations of g��er�menta!au�horities.
<br /> Survi�al af Promises. Af� pramises, agr�ements, and s�a�ement� Trustar has made sn this C�eed af Trus� shall
<br /> survi�e the exe�ution and de�i�ery o�th�s Deed af Trust, shalf be confinuing �n nature and shail rernain in fuil for�e
<br /> and ef�ect unt�l such�ime as Trus�or's Indebtedness is paid +n�uli.
<br /> E�CIST�NG IN�ESTE�NESS. Th�follawing pro�isi�ns concer�ing Ex�sting Indebtedness are a pa�t af this❑�ed of Trus�:
<br /> Ex�sting Lien. The �ien of this ❑eed o� Trust securing th� indebtedness may be secondary and inferior ta an
<br /> exis�ing l��r�. Trustar express�y co�enants and agrees to pay, ar see�o the paymen�o�, the�xisting Indebtedness
<br /> and�o preven�any defau�t on such indeb�edn�ss, any defaul�under the instrumen�s evidencing�uch indeb�edness,
<br /> or any d�fault under any securi�y documents fo�such ir�debt�dness.
<br /> Na Nlad�fication. Trustor sha�l nat�n#er into any agreement uvith the htilder of any mortgage, deed ��trust, or
<br /> a#her seGurity agre�ment whi�h has priority ��er �his aeed of Trust by whi�h tha# agreement is madifi�d,
<br /> amended, �x#ended, or renew�d with�ut the privr written Gvnsent of Len�er�. Trust�r shall nei�her request nor
<br /> accept any future advances under any such security agreement w�thout the prior wri#ten�onsen�of Lender.
<br /> CaNDEIIIENATIC3N. The fal�ow�ng pr��isions re�at�ng to condemnation pr�ceedings are a par�of th�s D�ed❑f Trust:
<br /> Pr�ceedings. If any proc�eding in Gand�mnatior� is fled, Trustor shall promp�ly no�i�y Lender in writ�n�, and
<br /> Trustor shall pramptly take such steps as may be necessary to defend the ac�i�n and obtain the award, Trustor
<br /> may be the nominal par�y in such pro�eeding, but Lender shai!be entitled to par�icipa�e in�he proceeding and ta be
<br /> r�pr�sented in the p��ceed�ng by counsel of i#s own chaice, and Trustor will deli�er or �ause to b� deli�er�d �o
<br /> Lender such instruments and document�tion as may be reques�ed hy Lender from time ta �ime �o p�rmit such
<br /> participation.
<br /> Appli�a�ian af Ne#Procee�s, If a11 ar any part of the Praperty is condemned by ern�nen�damain proceedings or by
<br /> any proceed�ng or purchas� in lieu af condemnatian, L�nder rnay at its elec�i�n require that a11 or any part�on of the
<br /> n�t �praceeds a�t�e awa�ci be appi�ed �Q �he ir�deb�edness ar the repa�� or rest�ra�ian o'���e Property. �he net
<br /> proceeds of the award shall mean th� award af�er payment o�al� reasvna��e costs, expenses, and attorneys' fees
<br /> in�urred by Trustee ar Lender in conn�ction wi�h the candemnation.
<br /> IMPaSIT1�N �F TA�4ES, FEES AND CHARGES BY G�VERNMENTAL ALlTH4R�TIES. The foi[awing pro�isivr�s re�ating
<br /> fit�gavernmen#a�taxes,fees and charges are a par#a�th�s Deed of Trust:
<br /> Current Taxes, Fees and Charg�s. Upon request by Lender, Trustor shali execute such documents in ad�itian to
<br /> this Deed af Trus�and �ake whate�er a�her activr� �s reques�ed by Lender to p�rFe�t and continue Lender's lien on
<br /> the Rea� Praperty. Trustor sha�4 reimburse Lender far a�l taxes, as described 'aeiovv, tog�ther wi�h a�� expenses
<br /> incurred in �ecording, per�ecting ar continuing #his Deed of Trus#, including withaut limita#ian ai1 taxes, fee$,
<br /> dc�cumentary stamps, and other charge�for recarding vr r�gis#ering this ❑eed o�Trust.
<br /> Taxes. The fol�owin� shall constitute taxes to which th�s s��tian applies: ��) a specific tax upon thts type a�
<br /> Deed o�f Trust flr upon ai! or any pa�t af the �ndeb�edness secured by this Deed o�F Tr�us�; �2} a specif�c tax an
<br /> Trustar�hich Trustor is authoriz�d ar requi��d to deduct fr�am payments❑n the Indebtedness secured by this type
<br /> of Deed of Trust; �3} a tax an th�s type of Deed��Trus�chargeable against�he L�nder or the holder of�he No#e;
<br /> and �4� a speci#ic tax an al! or any pn�i�n �f the Indebtedness ar an paymer�ts o�F prin�ipa� and interes�made by
<br /> Trust�r.
<br /> 5ubsequent Taxes. If any tax �o which �his sec�ion appli�s is enac��d subsequ�nt ta #he date of#his aeed of
<br /> Trus�, this �vent shall have the same effect as an Event o� Defaui�, and Lendec may �xercise any or all of its
<br /> aWai�ab�e remed+es fQr an �vent of Default as proWided be1�w un�ess �rustor e��her ��1} pays the tax b�fvre +�
<br /> becomes de�€nquent, ar [�} �ont�sts the tax as pravided ab�ve in �he Taxes and Liens sect�an and depasits with
<br /> Lender cash ar a suf�icien�corp�rate surety bond or❑ther security sat�sfactary to Lender.
<br />
|