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2�1 5�����
<br /> [�EED �F TRUST
<br /> ��v�ltinued� Pa�e 3
<br /> Prop�rty in an amount suffi�ient to a�vid application af any cvinsuran�e CIatJSe� and with a standard martgagee
<br /> clause in fa�ar a�Lender,tvgether wi�h su�h other ha�ard and liabifity insurance as Lender rnay reasonably require.
<br /> Po9icies shaf� be written in form, am�unts, c�verages and basis reasonably acceptable ta L�nder and issued by a
<br /> company vr campanies reasonably acceptable to Lender. Trustvr, upvn request �� Lender, will deli�er ta L�nd�r
<br /> from time�to time the poli�i�s �r certificates of insurance in form sat�sfactary to Lender, including stipulations that
<br /> �o�erages wi�! not be cancefled vr diminished wi�hou�at least thirty �3�} days privr written notice to Lender. Each
<br /> insuranc� policy also sha[I include an endvrsemen� pro�iding tha� �o�erage in fa�or of Lender will nvt be impaired
<br /> in any way by any act, omission or default o�Trustar ar any other person. 5hou[d the Real Praperty be locat�d in
<br /> an area designated by the Administrato�af the Federal Emergency Nlanagemen�t Agency as a special flood ha�ard
<br /> area, Trustor agrees ta vbtain and maintain Federal Flvvd lnsurance, if available, for th� maximum amvunt of
<br /> Barrawer's credit line and the full unpaid prin��pal baiance of any prior liens on the prop�rty securing th� Io�n, up
<br /> to the rnaximum policy limits set under the Natiana! F�ood Insurance Prvgram, or as otherwise requi�ed by Lender,
<br /> and t❑main�ain su�h insuran�e fvr the term vfi the loan.
<br /> Appli�ativn of Proceeds. Trustvr shall promptly noti�y Lende� o� any loss vr damage t� th� Property i� the
<br /> estimated cost of repair or replac�ment exceeds $7,��D.OD. Lender may mak� prvof of loss if Trus#or�ails fio d�
<br /> so within fi#teen �15� days�#the casualty. Whe�her or nvt Lender's s�cu�ity is impaired, Lender may, at Lender's
<br /> election, rec�i�e and retain the pro�eeds of any insurance and app�y the proc��ds fio the �edu�tion of the
<br /> Indehtedness, paym�nt of any lien a�fecting the Praper�y, ❑r th� restoration and repair ofi the Praperty, if Lender
<br /> elects tv app�y the proceeds to restaration and repair, Trustor shall repair ar replace the damaged or destrayed
<br /> lmpro�ernents in a rnann�r satisfactary ta Lende�. L�nder 5hall, upvn satisfactory proof af such expenditure, pay
<br /> or reirnburse Trustar from the proceeds for the reasonal�l� cvs� of repair or r�storatian if Trustor is nat in d��rault
<br /> under this De�d af Trus�. Any praceeds which ha�e not been disbursed withir� 1$Q days a#ter their receipt and
<br /> which Lender has nat committed t❑the r�pair ar r�st�ration of the Property shall be used first to pay any amount
<br /> �wing t� Lender under this Deed of Trust, then to pay a�crued interest, and the remaind�r, if any, shall be applied
<br /> ta the principal balan�e af �h� lndebtedness. If Lender hvlds any praceeds after payment in �rull of the
<br /> lndebtedness,such pro�eeds shal�he paid to Trustor as Trustor's interests may appear.
<br /> Compliance with Existing Indehtedness. During the p�rivd in which any Existing lndebtedness�lescribed bela►rv is
<br /> in e�fe�t, cvmpliance with the insuran�e prv�isions �on�ained in th� instrument e�idencing such Existing
<br /> Indebtedness shall canstitute compliance with �he insurance pra�isions under this Deed ❑f Trust, t❑ the extent
<br /> �ompliance with the terms of this Deed af Trust would consfiifiute a �uplicafiion of insurance requirement. I� any
<br /> proceeds from the insuranc� becQme payable vn loss, the pra�isians in �th�s t�eed o�Trus�fvr�i�isian of proceeds
<br /> shall apply❑nly tv that portion o�the praceeds nat payable�o th�ha�der af th� Existing Indebtedness.
<br /> LENDER'S E�CPENDITURES. If Trustar fai[s �Ay t� keep the Praperty free ofi all taxes, liens, security interes�s,
<br /> encumbran��s, and other �laims, �B) ta pr��ide any required insurance ❑n �he Property, tC� ta make repairs to the
<br /> Property ar t❑ cornply with any vbligatian t❑ maintain Existing Ind�htedness in gvvd s�Canding as required b�low, then
<br /> Lender rnay do sv. If any action or proceeding is �ammenced that v►rauld ma�teria!!y affect Lender's interests in the
<br /> Property, then Lender an Trustar's behai� may, but is nat r�quired to, take any actian that Lender belie�es tfl he
<br /> appropriate to prvte�t Lend�r's int�rests. A€f expenses ir�curred Qr paid by Lender far such purposes will then bear
<br /> interest a# the rate charged under the Credi� Agreement �rram the da�e incurred or paid hy L�nder to the date o�
<br /> repayment by Trus�or. All such expenses ►rvill become a part of the Inde�tedness and, a� Lender's optivn, will �A� be
<br /> payable ❑n demand; [B� be added to the balance of the Credit Agreement and be app�rtianed among and be payabl�
<br /> with any installmenfi payrnents t�became du�during ei�her ��� the terrn af any app[icable insurance pvlicy; ar 4�y �he
<br /> remain�ng terrn o�fihe Credit Agre�ment; ar �C� be t�eated as a ballaon payrnen�whi�h will he due and payable at the
<br /> Credit Agreement's maturity. The Deed vf Trust als�v►►iil secure paymen�af these amvunts. The rights provided for in
<br /> this paragraph shall he in additian to any vther rights or any remedies t❑ which Lender may be entitled Qn account ❑f
<br /> any default. Any such action by Lender shall no� be construed as curing the default sv as to bar Lender from any
<br /> remedy that it otherwise would have had.
<br /> INARRANTY; DEFENSE�F TITLE. Th�folfowing pro�isions r�iating to vwnership❑f the Praperty ar�a part af�his D�ed
<br /> ❑f Trust:
<br /> Title. Trustor warrants that; {a� T�ustor holds goad and marketabf� titie o� recard t� the Proper�ty in fee simple,
<br /> fres and �iear of a!I fi�ns and en�umhrances o�ther�han thase set f�rth in the Real Property description ❑r in the
<br /> Exist�n� lndebtedness sec�ion belaw or in any�itie insurance poli�y, title report, Qr final title❑pinion issued in fa�or
<br /> of, and ac�epted by, Lender in cannection with this ❑�ed of Trust, and tb� Trustor has the fiui! righ�, pvwer, and
<br /> authority to�xecute and deii�rer thts Deed o�Trust to Lender.
<br /> Defense vf Tit��. 5ubjec� ta the exceptian in the paragraph abQ�e, Trustor warrants and will foreW�r defend th�
<br /> tit�e to th� Prop�rty against the �awful claims vf al! pers�ns. In the��en�any ac�ion or pr�ceeding is commen�ed
<br /> tha�questians Trust�r's title❑r the in�erest Qf Truste�ar Lender under�this Deed of Trust,Trustor shall def�nd the
<br /> actian a�Trustor's expense. Trustor may be the nominal party in such proceeding, but Lender shall he entitled to
<br /> participate in the proceeding and �o he represented in �he praceeding by counsel af Lender's own choic�, and
<br /> Trustor wifl deli�er, or eause to be defi�ered, t❑ Lender such instruments as Lender may request�rom time ta time
<br /> to perrnit such participativn,
<br /> Compliance With Laws. Trustor warrants tha� the Pr�p�rty and Trustoc's use ❑f the Prvper�y cvmplies with all
<br /> existing applica�le[aws, ardinan�es, and regulati�ns af governmental authori#ies.
<br /> Sur�i�al af Prvmises. All pramises, agreements, and statem�nts Trustflr has made in this D�ed ofi Trust shalf
<br /> sur�ive�the executian and deli�ery of this Deed of Trust, sha!! be continuing in nature and shafl remain in full force
<br /> and effect until such time as Borrauver"s fndebtedness is paid in fuff,
<br /> EXISTIN� �NDEBTEDNESS. The follawing prv�isions�once�ning Exis�ing Indebtedness are a part a�this ❑eed o�Trust:
<br /> Ex�sting Lien. The lien of this Deed vf Trust securing the Indebtedness may be secondary and inf�rior to an
<br /> exis�ing lien. Trustor�xpr�ssly co�enants and agrees ta pay, vr se��a the payment af, the Existing lndeb�edness
<br /> and ta pre�rent any defauEt on such indebt�dness, any default under the ins�ruments e�idencing such indebtedness, �
<br /> o�any default under any security dvcuments f�r such indehtedness.
<br /> No M�dificati�n. Trustar shall nv� enter inta any agreement with the h�lder o# any mortgage, d�ed of trust, �r
<br /> ❑ther securi�y agreement vuhich has priori#y a�er this ❑eed v� Trust by which that agre�ment is modified,
<br /> amended, extend�d, or renewed withaut the prior written consen� of Lender. Trustor shall neither reques� nor
<br /> accept any�uture ad�ances under any su�h security agreem�nrt withvu�the privr written cansent of Lender.
<br /> �ONDEMNATI�N. Th�following pravisions reCating to cvndemnatian prviceedings are a part of this Deed of Trust:
<br /> Praceedings. If any praceeding in condemna�ion is fi�ed, T�ustor shall promptly notify Lender in writing, and
<br /> Trustar shall pramptly take such steps as may be necessary tQ de��nd the actEon and ❑htain the award. Trus�or
<br /> may Eae the nominal party in such prac��ding, but Lender shall be entitfed to participate in the prviceeding and to#�e
<br /> represented in the pro�eeding by ��unsel ❑f its awn Ghaice, and Trustor will deli�er or cause to be deliv�r�d to
<br /> Lender such instrumen�s and documentation as may b� r�qu�sted by �ender from time to time to p�rrnit su�h
<br /> participatian.
<br /> Appli�a�ivn of Net Prviceeds. I�f a1i or any part of the Prvperty is�ondemned by erninen�dvmain pro�eedings or by
<br /> any praceeding vr purchase in lieu of condemnation, Lender may at its efection require that all vr any portivn of the
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