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��15��189
<br /> DEED �F TRUST
<br /> �Continu�d� Pa�e 3
<br /> area, Trustor agrees �❑ obtain and maintain Federaf Flood �nsurance, i�F a�aiiab[�, #or �he maxirnum amoun�t ❑f
<br /> Trustvr's Gredit line and the full unpaid principal ba�an�e of any prior�iens vn the prvperty s��uring the Ioan, up�o
<br /> the maximum palicy limits set under the lUa�ivnal Ffvod lnsurance Program, or as otherwise required by Lender, and
<br /> �v maintain s�ch insurance�ar th�term of t�e laan.
<br /> Appl'r�ation vfi Proceeds. Trustvr sha11 pramptly noti�y Lender o�F any loss or dama�� to th� Prope�ty i� th�
<br /> es�ima�ed cost Q�repair or rep�a�ement exceeds $�,�a�.�4. Lender may mal�e prvo�a�loss if Trustor fails tv do
<br /> so within fif�een �1�� days a�f the casualty. Vtilhether or nat Lender's se�urity is impaired, Lander may, at Lender`s
<br /> election, re�ei�e and retain th� praceeds of any insurance and apply �he pro�eeds t� the redu�tian af �he
<br /> Indebtedness, payment❑�any Iien af�ectin� the Property, or �he res�oration and repair of the Prope�ty. 1f Lender
<br /> elec�s to app[y the pr�c�eds tv r�s�arati�n and repai�, Trus�vr shal� repair or repla�e the damaged v� destrvyed
<br /> �mpr�vements in a manner satisfactQry to L�nder. Lend�r shal�, upon satis�actory praa�of such sxpenditure, pay
<br /> or reimburse Trustvr�rr�m the praceeds far the reasvnab�e cast of repair ar restoration if Trustor �s not in default
<br /> unde� this �eed o� Trust. Any proceeds whi�h ha�e not �een disbursed within 18� days a�ter their receipt and
<br /> w hich Lender has not c�mmitted t� the �epair or restoration o�r the Property sha�[ be used first to pay an� amount
<br /> awing t❑ Lander under this Deed a#Trust, �hen tv pay accrued �nterest, and the rernaind�r, if any, shall be applied
<br /> to the principal halance o� the Indeb�edness. 1� Lender halds any praceeds a�ter payment in full ofi the
<br /> Indeb�edness,such pracesds shall be pa�d to Trustor as Trus�or's inte�ests may appsa�.
<br /> Cvmplian�e with Existing Indebtedness. Dur€ng the p�rivd �n which any Existing lndebtedness described be�ow is
<br /> in ef#ect, campliance wi�h the insurance pro�isions c�ntaEned in the instrumen� evidencEng such Existing
<br /> Indef�tedness shall constitu�e comp(ianc� with the insurance pr�visions under this ❑eed vf Trus�, to the ext�nt
<br /> campliance tirvith �he terrns v�F�his Deed vf Trust wou[d constitut� a duplica�ion of insuran�e requirement. If.any
<br /> proce�ds frorn the insurance become payable qn loss, the pro�is�vns in this Deed ��Trus��or di��sion af proceeds
<br /> shall apply on�y to that partivn�f the proc�eds no�p�yable to the ha�der vf�he Existin�lndeb�edness. �
<br /> LENDER'S EXPENDITURES. �� Trustar fails �A} tv l�eep the Proper�y free �f all taxes, liens, security infieres�s.
<br /> encumbrances, and vthe� claims, tB7 t❑ prv�ide any required insurance ❑n the Property,. ��� to make repairs ta the
<br /> Praperty ar ta carnply wi�h any abligativn to main�ain Existing [ndebtedness in gvad standing as required belaw, �hen
<br /> Lender may da s�. if any ac�ivn �r proceeding is cammenced that wou[d materia!!y affec� L�nder's interests in th�
<br /> Praperty, �hen Lender on Trustor's beha�f may, but is not r�quired tv, take any action tha� Lender belie�es �to-be
<br /> appropriate to prot�ct Lender's int�res�s. A1! expenses incurred or paid by Lender �or su�h purposes w�Il then bear
<br /> interest at the rate charged under �he �redit Agre�ment from �Che date in�urred ar paid by Lender ta the date af
<br /> repayment by Trus�or. A�( such expenses will hecame a par�af the lndebtedness and, at L�nde�'s optian, will [A3 be
<br /> payable an demand; {B} b� added t� the haCance v�the Credi�Agreemen�and be appor�ioned among and he payable
<br /> �rvith any installm�nt payments tQ become du�dt�ring either �1) fihe term of any applicab�e�nsuranGe pol�cy; or 4�} the
<br /> rema�ning term of the �redit Agreernen�; vr {�f be treated as a ballaon payment which w�1i be due and payable at the
<br /> Cred�t Agreement's maturity. The Deed o�Trust also will secure payment of th�se amounts. The righ�s prv�ided�or in
<br /> this paragraph shall be in addition �o any a�her rights flr any rem�di�s �v which Len�ler may be enti�led �n aGcount o�
<br /> any default. Any such actian by L�nder shall not be canstrued as curing th� de�ault sa as to bar Lende�- from any
<br /> rernedy�ha�t it otherwise wau�d ha�e had.
<br /> WARRANTY;DEFENSE�F T�TLE. The fQ1lov�ing proWisions re[ating�v own�rship o�the Property are a parrt of#his�eed
<br /> of Trust:
<br /> Tit�s, Trustor warrants that: taf Trustar holds goad and marketab�e ti�ls of record to the Praper�y in fee simple�
<br /> free and clear of all li�n� and encumbrances other than �hase set f�rth in ths Rea! Praperty deseription or in �he
<br /> Existing Indebfi�dness seGtian below or in any title insurance policy�tit�e repar�, or finaf ti�le op�nion issued�n fa�or
<br /> v�, and accepted by, Lender in cannection v�rith�his ❑eed o�Trust. and �b) Trustor has the fu11 right, p�vver� and
<br /> authority to ex�cute and de�iver this Deed a�Trus�t�o Lender.
<br /> Defense of Titie. Sut�j�ct t❑ �he exception in the paragraph abave, Trus�ar ►nrarrants and wi�� forever de�en� the
<br /> t�t�e to the Praperty against the �a�rvful claims of all pe�sons. !n the e�e�t any action or p�viceeding is comrnen�ed
<br /> tha�questivns Trustar's ti�le ar the interes�k of Trustee ar L�nder under this D�ed of Trust,Trustar shaii defiend�he
<br /> a�tion at Trus�or's exp�nse, Trustor may be the nvminal party in such proc�eding� but Lender shall be entit�ed to
<br /> particip�te in the praceeding and t� �ae �epr�sented in the pro��eding by couns�l of Lende�'s own �haice, anc�
<br /> Trus�or wiil deli�er, or cause tv be deli�ered, �v Lend�r su�h instruments as Lender may request�rom time�o time
<br /> ta permit such par#icipa�tion.
<br /> Campliance Wi�th Laws. Trustor warrants that the Praperty and Trust�r's use af the Praperty cvmplies with a��
<br /> �xisting app�icab�e laws, ❑t'dinances, and regulations vf ga�emmenta!au�horities,
<br /> Survi�a� of Pr�mises. A�! prvmises, agreements, and staternents Trustor has made in this ❑eed o� Trust shall
<br /> sur�i�e�he execution and deli�ery af this Deed �f Trust, shall be cvntinuing in nature and shall remain in ful� f�rGe
<br /> and effect unt�� such tirne as Trustor's�ndebtedness is paid in�Full.
<br /> EX�ST[NG 1NBEBTEDNESS. The following provisions concerning Existing �ndeb�edness are a part af th�s❑eed o#Trust:
<br /> Ex"rs��ng Lien. The iien ❑f this Deed ❑f Trust securing the lndebtedness may be secondary and inferior ta an
<br /> ex3sting lien. T�ustor expressly covenants and agrees to pay, or see�a the payrnent af, the Existing �ndebtedness
<br /> and ta pre�ent any de�ault on such indebtedness, any default under the ins�rumen#s evidencing such ind�btedness,
<br /> vr any defauit under any s�curi�y docum�nts far such indebtedness,
<br /> No Mvdif��ation. Trus�or shall nvt enter into any agreement with the hofder of any mortgage, deed o�trust, ar
<br /> ather securit}� ag��ernent whiGh has prior�ty over this ❑e�d af Trust by whi�h that agre�men� is modi�ied,
<br /> amended, ex�tended, or renewed w�thaut �he pri�r written ��ns�nt of Lender. T�us�vr shall neither reques� nor
<br /> accept any fu�Cure advances under any such securi�y agr�ement without the privr writt�n�ansent of Lender,
<br /> ��NDEMN�4TiaN. The�v��vwing pro►�isivns reiating tv condemnat�on pr�ceedir�gs are a part�t thts❑eed of Trust:
<br /> Pro�eedin�s. If any prv�eeding in con�iemnatian E5 filed, Trustor shall pr�mptly nvti�ry Lender in wr�ting, and
<br /> Trust�r shal[ promptly take such st�ps as may be ne�essary#o d��end th� actian and abtain the award. Trus��r
<br /> may be the nvminal party in such proceeding, but Lender shall he entitled�v parti�ipate�n the praGeeding and t❑!�e
<br /> represen�ed ir� fihe proceeding by �ounse� o� i�ts own chvice, and Trusfivr will de�i�e� vr �ause to be delivered tv
<br /> Lend�r such instruments and dacumentativn as may be r�quested by Lender frvm time tv �ime tv permit such
<br /> part3cipa�ion.
<br /> Application afi Net Praceeds. If all or any part af the Property is condemned by eminent�amain praceedings ❑r,by
<br /> any proce�ding ar purchase�n lieu o�cond�mna�ion, L�nd�r may at its e��ctian require that all❑r any portivn a�the
<br /> net pro�eeds o� the a�nrard be applied ta the Indeb�edness �r �he repair or restoratian of the Pro�erty. Th� ne�
<br /> proceeds of�the award shall mean fihe award a�ter payment��al� reasanab�e costs, expenses, and a�torneys' #ees
<br /> inGurred by Trust�e ar Lender in�onnection vtir�th the candemnati�n. .
<br /> 1MPDSlTI�N �F T�►XES, FEES AND CHARGES BY G�'I�ERNMENTAL AUTH�]RITIES. The �ollowing prn�isians relating
<br /> to gavernmenta�taxes,f�es and�harg�s are a part vf�his a�ed af Trust:
<br /> �urrent Taxes. Fees and Charges. Upan request by Lender, Trustor sha�! execute such documents in additian#❑
<br /> this ❑�ed vf Trust and take whateWer a�ther a�tion is reques�ed by L�nder ta perfiect and �antinue Lender's lien on
<br /> the Real Property. Trustar shall reimburs� Lende� for ail taxes, as described belaw, tvgether wi�h al� expenses
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