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2� 15�7395
<br /> DE�D t]F TRUST
<br /> ��ontinued� Rage �
<br /> the maximum pc�licy limits set under the Natianal Flood Insur�nce Pro�ram, vr as otherw�s� required by Lender, and
<br /> tv maintain such insuranGe for the��rm❑f the Ivan.
<br /> Appfi�a#i�n o# Pro�eeds. Trus�or shall pramptly n�tify Lende� a� any ioss Qr damage t� �he Property if the
<br /> e$�rimated cost a� repair ar replacement exceeds $1,���.��. Lender may mak� prov� a€ loss if Trustor�ails tv do
<br /> so wi�hin #ifteen {15} days of the casualty. V11he�her vr nat L�nd�r's security is impaired, Lender may, at Lender's
<br /> election, rec�ive and r�tain �he prace�ds o� any insurance and apply th� praceeds ta the reductian af t��
<br /> �ndebtedness, payment a� any �ien a#fecting �he Prv�erty, ar the re��Coration and repair ot the Prvperty, If Lender
<br /> ei�cts �o apply the �roce�ds t� res�aration and repair, Trust�r shall repair or replace the damaged or destr�yed
<br /> �mprQ�ements in a manner satisfactary to Lender. Lender shafi, upan sat�sfa�tory proof �f such expenditure, pay
<br /> ar r�im�urse Trustor from the prac�eds for�he reasvnal�le cos�k of r�p�ir or res�aration if Trus#vr is not in default
<br /> under this Deed ❑f Trust, Any praceeds whi�h have not been d�sbursed within 1�� days after their reGeipt and
<br /> which Lender has nat committed tv the repair vr res�vra�ion af the Property shall be used fir��t� pay any amvunt
<br /> vwing ta Lender under this Deed �fi Trust, then�o pay accrued interest, and the remainder, if any, sha�l be applied
<br /> to �he prin�ipal balance of the Indebtedness. If Ler�der halds �ny prQc��d� af�er payment in �Fu�! of the
<br /> Indebtedness, such proceeds shall be paid to Trustor as Trustor's in�erests may appear,
<br /> Compliance with Existin� lndebtedness. During the period in which any Existin� �ndebtedn�ss described below is
<br /> in effect, campliance �rvith �the insurance provisivns Gvntain�d in the instrumen� e�idencing such Existing
<br /> lndebtedness s�all consti�ute camplian�e with the insurance pravisior�s under this De�d �f Trust, �Q �he extent
<br /> cvmpliance with the terms af �his Deed vf Trust wauld cvnstitut� a dupli�atian �� insurance requirem�n�. I� any
<br /> pro�e�ds from the 'rnsurance beGome payable on loss, the prv�isi�ns in th�s Deed of Trust for df�ision o�F pro�eeds
<br /> shall ap�ly only to�khat pvrtion of the proceeds nvt payable to the ho�der af the Existing Inde�tedness,
<br /> LEN�ER'S EXPENDITURES. !� Trustor fails ��1� �a keep the Property #ree of all taxes, liens, security interests,
<br /> encumf�rances, and other claim�, tB� �o pro�ide �ny required �nsurance an �he Prop�rty, �C} to make rep�irs �❑ the
<br /> Praperty or to comply with any �bligativn tv maintain Existing Indef�tedness in good standing as required below, then
<br /> Lender may dv sv. 1f any a�tton or proceed�ng is c�mmenc�d that wvu�d materially affect L�nder's �n�erEsts in the
<br /> Proper�ty, then Lender vn Trustor's faehalf may, but is not required to, �ake an� action that Lende� b�lie�es t❑ b�
<br /> approprEate �ko prote�� Lender"s inte��s�s. A11 expenses incurred �r paid by L�nd�r fvr such pur�ases wii! then bear
<br /> interest at the ra�e charged under the Cr�dit Agreement firvm the datie incurr�d or paid by Lender t� �he date vf
<br /> repayment by Trustc�r. All such�xpenses will become a part a�the lndebt�dness and, a�k Lender's optian, wil� �A� be
<br /> payahl� ❑n demand; �6� be added to the ba�ance of the Credit Agreement and be appo�tioned amang and b� payable
<br /> wEth �ny installrr7�nt payments to become due during either �'i} the term af any appli�ahle insurance poficy; r�r {�} �h�
<br /> remaining term ofi the Credi�Agreement; or tC} �e#reated as a balioon payrnent which will be due and payab�e at the
<br /> Credi�Agreemsn�'s maturi�y. The ❑eed af Trust also will secure payment o�these amounts. �'he rights prc�vided far in
<br /> this paragraph sha�l be in additian to any a�ther rights or any remedies to which Lender may be entit��d on ac�r�unt of
<br /> any d�fault. Any such ac�ivn by Lender shalf no� �e �vns�rued as curin� the de�ault so as fi� har Lend�r fram any
<br /> remedy that it vtherwise v►►ould ha�� had.
<br /> WAR�ANTY; DEFENSE�F TITLE. The following pro�tsions rela�ing ta ownership o#th� Prop�rty are a part o�this ❑eed
<br /> vf Trust:
<br /> Title. Trustor warrants that: �a� Trustar haids good and marke#able title o� re�vrd t� the Praperty in fee simpl�,
<br /> free and cfe�r af all liens and encumbrances other than �thvse s�t for�h in th� Real Prop�rty descript�on or in the
<br /> Existing lnde�t�dness sec'tivn belaw or in any�itle insurance policy,��t�� repor�, or fina!titl�opinian issued in fa�ar
<br /> �f, and accepted b�y, Lender in cannec�ion with this Deed v#Trust, and {b� Trus�Qr has the fuli righ�, pawer, and
<br /> authority fio e�ecute and d�li�er fih�s Deed of Trust to Lender.
<br /> C]e�ens� of Titl�. 5ub�ec� tv �he excep�ion in �he paragraph aba�e, Trustor warrants and will fvre�er d�#end th�
<br /> �itl� t❑ the Pr�p�rty against the lawful claims af all persvns. In the e�ent any action ar �rv�eeding is cammenced
<br /> th�t�uestions Trustor's�i�le vr thg �nterest flf Trustee ar Lender und�r�his De�d o�T�ust, Trustar shall d�fend the
<br /> action at T�ust�r's expense. T�ustvr may be the nvminal �ar�y in such prviceeding, �ut Lender sha�l be entitled to
<br /> participa�e in the pra�eeding and t❑ be represented �n the pr���eding by counsei of Lender's vwn ch�ice, and
<br /> Trusior will deliver, or cause to be defi�er�d, to Lender such instruments as Lender may request firam time�ko time
<br /> t❑ permit such participa�ivn.
<br /> �vmplian�e INith Laws. Tru�tvr warrants that the Prvp�rty and Trustar's use of the Praperty cvmplies vvith all
<br /> existing a�plica�le �avtirs, ordinances, �nd regulations o�ga�ernmen�al au�hvrities.
<br /> 5ur���a1 �� Prvmises. A11 pramises, agr�ements, and sta��men�s Trustor has made in this C3eed of Trus� shall
<br /> sur�i�e the execution and deli�ery of this Deed of Trust, shall be cvntinuing in nature and shall remain �n fu�! #orce
<br /> and e'fteGt un�il su�h time as Trustor'S lnd�bt�dness �s paid in full,
<br /> E�ISTIN� �NDEBTEflNE�S. The fo�lawing pro�isians cancerning Exisfiing lndebtedness ar� a part of this De�d af Trus�:
<br /> Existing Lien. The lien of this Deed of Trus� securing the Indebtedness may be secandary and inferiar to an
<br /> e�i�ting �i�n. Trustor expressly ca��nan�s and �grees tv pay, or see tv�he payment of, the Exist�n� lnde�rtedn�ss
<br /> and t� pre�ent any default an such indebtedness, any default under�he instruments eviden�ing suGh indeh�edn�ss,
<br /> or any defau�t under any S�curiry d�cumen#s�ar such indeb��dness.
<br /> No Modification. Tru�tor shaif nat enter Ento any agreement with the halder of any mor�gage, d�ed ofi trust, or
<br /> other se�uri�y agreemen� which has �riarity o�er this D�ed �f Trust by which that agreement is m�dified,
<br /> amended, extended, vr renewed ►�v�thQut �he priar wri�ten cansen� of Lender. Trustor shall neither request n�r
<br /> accept any future advanc�s under any such s�curity agreement withaut the priQr written consen�vf Lende�.
<br /> C�NC]�MNATIdN. The followin� pra�isians relating to condemnation�roc��dings are a part of this �eed of�rus�:
<br /> Prviceedings. If any prQGeedin� in ��ndemnatian rs f�f�d, Trustar shall promptly nc�ti�y L�nder in writing, and
<br /> Trust�r shalf prvmptly take such steps as may be neGessary to defend the a�tion and abtain the award. Trustor
<br /> may be the naminal party in such proceeding, but Lend�r shall be en��tled ta participate in th� praceeding and t�la�
<br /> rep�esented in �he praceeding by counsel of its own choice, and Trusto� wiii deli��r or cause tv be deli�ered ta
<br /> L�nder such instrument� and documentation as may b� reques�ed by Lender from time to time ta permi� such
<br /> par�icipation.
<br /> App�ication af Ne� Praceeds. !f all ar a�ny part of�he Praperty is condEmned by eminent doma�n proe�edings or by
<br /> any pracee�ing vr purchase in lieu vf candemna�ion, Lender may at its�lection require�hat all ❑r any pv�tion❑f the
<br /> net p�oc�ed� af the award be applied ta the Inde�tedness or the repair or res�roratian �f rhe Praperty. The nst
<br /> proceeds a�the award shall mean the award after payment of afi reasanab�e �osts, expens��, and attorneys' fees
<br /> EnGurred by Truste�or Lender in cannE�tion wi�h the cvndemnatinn.
<br /> fMPQSITI�N DF TA�ES, FEES AND �HA�RGES 6Y GDVERNMENTAL AUTH�RIT�ES. The fv�lawing pro�isions relatin�
<br /> to ga�ernmental�axes, fees and char�es �re a part o��his Deed of Trust:
<br /> �urrent Taxes, Fees �nd Charges. Upon requEs� �y Lender, Trustt�r Shall e��cut� such dacuments in additian to
<br /> this Deed of Trus�and take wha�e�er��her actian is requested by Lender tv p�rfiect and �on�inu� Lender's �ien on
<br /> th� I�ea! Praperty. Trustvr shall reim�urse L�nder for all taxes, as d�s�r�hed belvw, tagether uvith all expenses
<br /> incurred in recarding, perfecting or cantinuing this Deed v� Trust, in�luding without limitation all taxes, �ees,
<br /> do�umentary stamps, and other char�es for recvrding or reg�ster�ng�his ❑eed��Trus�.
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