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2� 15�7522
<br /> DEEL� �3F TF�l�ST
<br /> ��ontinued} Page 3
<br /> under any surety band fiurnished in the�vn�est pr��eedings.
<br /> Evidence of P�ymen�. Trustor shall upon demand furnish to Lender satisfa�tory ��iden�e �f paym�nt of#he taxes
<br /> or �ss�ssments and sh�ll au�hvrize the appropria�e go�ernmen��l vfficial to deli��r�o Lender a�any tim� � written
<br /> statement af the taxes and assessments agatnst the Pr�p�rty.
<br /> Notice a#Cvr�s�tructiQn. Trustor shall natifiy Lender at ieas� fifteen (15y days b�fvre any wvrl� is �vmmenGed, any
<br /> ser�i�es are �furnished, or any materiaEs are supp�ied to the Property, if any mechanic's IEen, materialmen's lien, or
<br /> other lien cou�d be asserted on acGount a� the work, ser�ices, or materials and the cost exceeds �1,�QD.��.
<br /> Trus�or w��l upon requ�st of Lender furnish t� Lende� ad�anGe assur�nces satisfactary to Lender that Trustor Gan
<br /> and v►rill pa�the cost Qf suGh impro�em�nts.
<br /> PR�PERTY DAMAGE INSURANCE. The fallowing pro�isivns relating tv insuring the Property are a part af this Deed of
<br /> Trust.
<br /> M�in#enance o� lnsur�n�e. Trusta� sha�# prvGure and maintain poli�ies of fire insurance ►nrith standard extended
<br /> co�erage endarsements an a �air �alue basis far the fuil insurable value �overin� a1� Improvements an the Real
<br /> Prvperty in an amaunt sufficien� �o avoid applicatian vf any cQinsurance cla�as�, and with a standard mvrtgagee
<br /> Glause in fa�or❑f Lender, tagether w+�h suGh vther hazard and �iability insurance as Lender may reas�n�bly require.
<br /> Policies shall be wri#ten in fvrm, ama�unts, �o�era�es and basis reasanahly acc�ptable tv Lende� and �ssued by a
<br /> campany or Gompanies reasvnably a�ceptab�e tv Lender. Trustar, upon reques� of Lender, wil! deli�er tQ L�nder
<br /> fram time to �ime th� policies ar certifi��tes of insurance in form satisfactory �o Lend�r, including stipulations that
<br /> co�erages will nv#be cancelled vr diminished without at leasx thirty �3�f days prir�r written natice t� L�nder. Each
<br /> insuran�e pvl�cy also shall in�lude an endorsement pr��iding that �o�erage in fa�or of Lender ►n►ill nQt h� impaired
<br /> in any way by any act, omission ar defau�t of Trustvr or any ather person, Sh�ufd th� Real Pro�per�ty be Ivcated in
<br /> an area designated by the Administratar of the F�deral Emerg�ncy Manag�mer�t Ag�ncy a� a special f�t�od ha�ard
<br /> a�ea, Trustar agrees ta obtain and maintain Federal F�aod �nsuran�e, if a�ailable, for the maximum �maunt af
<br /> Borrawer's �redit line and �he ful[ unpaid principal balance af any pri�r liens �n the property se�uring the loan, up
<br /> ta the maximum palicy �imit� set und�r the National Flr��d Insurance Program, vr a� oth�rwise re�uired by Lender,
<br /> �nd tv maintain such �r�surance�for the term af the i�an.
<br /> Appli�ativn o� Pro�eeds. Trustor sha�l promptly nati�y Lende� a�f any loss �r damag� ta the Prope�ty �f the
<br /> �stimat�d cos�r a� repair or r�placert^��n� exGEeds �1,�QD.�4. Lender may make prvofi v�Ivss �f Trustar�ai1s t❑ dv
<br /> so within fi�teen �15y days of the casualty. W�ether flr n�t Lender's s�curity is imp�ired, Lender may, �� Lender's
<br /> elec�ivn, rec�i�e and retain �he praceeds ofi any insuran�e and apply the proceeds ta the reduc�ion of the
<br /> Indebrednsss, payment �� any lien a�fe�ting the Pra�aerty, ar the res�oratian and re�air of the Praper#y. ff Lender
<br /> elects to appl�r the prviceeds to restara�ion and repair, Trustor shall repair or r�p�a�e the damaged or des�rvyed
<br /> Irnprovemen�s in a manner satis�a�ta�ry to Lender. Lender shall, upvn satisfactary praa�of s��h expenditur�, pay
<br /> ar reimburse Trustar from �he prQceeds fo� the reasvnable c�st of repair or res�tvration if Trustor is n�t in default
<br /> under this Deed ofi Trust. Any prace�c�s which ha�e r�ot been dis�ursed wi��Cin '1 S� days after their receipfi and
<br /> which Lender has nat committed to the repair�r r�storatian af the Property shall b� us�d f�rst�o pay any amount
<br /> c�wing �o Lender under th�s Q��d v�Trusfi, then to pay ac�rued interestr and �he remainder, if any, shall be applied
<br /> t� the principal balance �� �he fndebt�dness. If Lender holds any praceeds a�ter paymen� in fiull Qf �he
<br /> fndebtedness, su�h proGeeds sha�� be p�id t�Trustor as Trustvr's in��res�s r�ay appear.
<br /> Cvmpiian�e with Existing �ndeb#edn�ss. During �he period in whiGh any Existing Indebtedness des�ribed belr��v is
<br /> in �ffec�, cvmpliance with the insu�ance pro�isians Gvntained in the tns�rument e�idencin� �u�h Existing
<br /> Indebtedness sh�ll constitute cvmpliance wi�h the insurance pro�isions under �his D�ed of Trust, tv �he e�ctent
<br /> compliance with the terms o# this De�d af Trust wfluld �ansti#ute a dupliGation o# insuran�e requirement, if any
<br /> pr�ceeds fr�m the Ensurance become payable an ivss, the provisions in this Deed af Trust for di�iskon vf proceeds
<br /> shall appiy❑nly�Ca�ha� partion of the praceeds not payable�o the holder of�h� ��cisting Indebtedn�ss.
<br /> LENDER'S EXPENDlTURES. !f Trustvr fails {A� ta keep the Property free vf all taxes, liens, security interests,
<br /> en�umbran��s, and ather cl�ims, �B� t� pro�ide any requir�d in�urance on the Proper�y, {C� ta make repafrs tv the
<br /> Prop�rty or to comply with any vbliga�ion �a maintain Exis�ing lndeb�edness in goad standing as required �etow, then
<br /> Lender may dv so. 1f any a��ion ar proceeding is comm�nc�d th�� wauld materially a��ect Lender's interests in th�
<br /> P��perty, then Lend�r ❑n Trustor's behalf may, but is nvt required to, take any a�tion that Lender befie�es tv be
<br /> appropriate t❑ pra�eGt Lender's interesxs. All expenses inG�arred ar paid by L�nder #vr such purpo�es wil! then bear
<br /> intere�t at th� rate charged under the �r��i� Agreement frorn the date incurred rsr paid by L�nd�r tr� th� date of
<br /> repaym�nt by Trustor. All such expenses will bec�me a part�f�he Indebtedness and, at Lender's option, wi�� �A� be
<br /> payable on demand; �B} be added �ra the balance �f the �redit Agr�ement and be apRorti�ned amang and be payable
<br /> wi�h any instal�men�pa�rments t� beGome du�during either �1] �h�term of any applicable insuranc�poiicy; �r ��� th�
<br /> remaining t�rm a��he Credit Agreement; or �C� be �r�ated as a ba�loon payment vvhich will be due and payabie at the
<br /> Credit�greement`5 maturity. The Deed Qf Trus�also wtlt secure payment v�these amounts. The rights pra�ided far in
<br /> this �aragraph shal� be in addi�ion to any vther rights vr any remedies to wh�ch Lender may be entitl�d vn a�cvunt of
<br /> any defaul�. Any such activn by Lender shall not be ca�strued as curing the de�ault sv as to bar Lender from any
<br /> remedy�hat it oth�rwise wauld ha�e had.
<br /> WARRANTY;DEFENSE DF TITLE. The��[�awin� pro�isivns r��atin�ta owne�ship o�th� Property are a part❑�this Deed
<br /> o�Trust:
<br /> Title. Trust�r warrants that, �a� TrustQr hvlds goQd and ma�ke�abl� title o� record t❑ the Praper�y in f�e simp�e,
<br /> free and clear v# a�� li�ns and �ncum#��ances ather than thase set far�th in the R�al �raperty description or in the
<br /> Exis�ting Indebt�dn�ss sectivn b��ow or in any title insuran�� pvlicy, title r�por�, or final title opinian is�u�d in fa�or
<br /> ❑f, and ac�ep�ed by, L�nde� in conne�t�on with this ❑eed of Trus�, and �b} Trust�r has the full right, power, and
<br /> authari�y to execut�and defi�er fih�s ❑eed�f Trust to Lend�r.
<br /> �]�fense of Title. Subj�ct to the exGeptian �n the paragraph abv�e, Trustor w���ants and will fare�er defend the
<br /> tiitle �o ih� Property aga�nst�he lawful �la�ms of all p�rsvns. ln#he e�en�any activn ar pro�eeding is eommenced
<br /> �hat questi�ns Trusfior's titie or th� inter�st of Trust�e �r Lender under this ❑eed a�Trus�t, Trustvr shall defend the
<br /> ac�i�n at Trus�or`s e�cp�nse. Trustor may �e the nomin�l party in such praGeedrng, �ut L�nder sh�ll be en�i�led t❑
<br /> par�icipat� in the proce�d�ng and t❑ b� represented in the Rrv�eeding by caunsel of L�nd�r's ❑wn �haice, and
<br /> Trustor will deli�er, ar �ause to he deli�ered, ta Lender such instruments as Lender may request from time t��ime
<br /> to permi�t such par�i�ipation.
<br /> Comp��ance Wi�h Law�. Trustor warrar��s �hat the Property and Trustor's use af the Property complie� with all
<br /> existing appl�cable lavvs, ordinances, and regulativns af go�ernmentaC authoriti�s.
<br /> Sur�i�ai o# Pramises. All promises, agreements, and s�atements Trustor has made in this Deed �af Trust shall
<br /> sur�i�e the ex�cution and deli��ry ofi this peed of Trus#, shall �e ��ntinuing in na�ur� and shall r�ma�n in full force
<br /> and ef�ect until su�h time as 6orrower's �nde�tedness is paid in full.
<br /> E�CISTIN� INDEBTEDNESS. The following pro�isions concerning Existing lndebtedn�ss�re a part of this D��d o�Trust:
<br /> Existing L�en. The li�n of �khis Deed of Trust securing the Indebtedness may be secondary and in��riar tv an
<br /> existing lien. Trust�r expres�ly cv�enants and agrees t❑ pay, or see tv the payment Qf, th� Existin� �ndebtedness
<br /> and�o pre�ent any d�faul�on such indebtedness, any defauit under the instrum�nts��idencing su�h inde�tedness,
<br /> or any defauit under any security da�um�nts for such indebt�dness.
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