|
2� 15�7522
<br /> DEE� �F TRUST
<br /> t C�ntinued� Pa�e �
<br /> Nv Modific�#ion. Trus�o� sh�ll no� enter inta any agrsement wiYh the holder of any mortgage, d�ed vf trust, ar
<br /> o�her security agreemen� which has priorit� a��r �his Deed a# Tru�t �y which �khat agreement is modif��d,
<br /> am�n��d, extended, or ren�wed withaut thg pri�r w�itten cansent of Lend�r, TruStD� 5hall neither request nar
<br /> accep�any fu�ure ad�anc�s und�r any such security agreem�n�withvut the prior writ�en consent�fi L..ender.
<br /> C�NDENiNAT�QN. The folfowin� pra�isions rela�ing��condemnation prviceedings are a part vf thfs Deed a�Trust:
<br /> Praceedings. [� any proc�eding in condemnatian is filed, �Trust�r shall prampfi�y notify Lender in writing, and
<br /> Trus�o� shall prompt[y take such steps as may be necessary to de�end �he action and c��tain the av►rard. Trustor
<br /> may b�the namina� party in such proceeding, but Lender shall b�en�i��ed ta participate in th�proceeding and to be
<br /> represent�d in th� proceeding by counsel o� its own chvice, and Trus�or wiff defiver vr caus� to be deli�ered to
<br /> Lender su�h instrumen�s and docum�nta�ion as may be requested by Lend�r frarn tim� to time ta permit such
<br /> participa�ion.
<br /> Applicativn af Net Prv�eeds. I#aff ar any part o'�the Pr�per�y is cvndemned by eminent d�main proc�eding� or by
<br /> any praceeding or purchase in lieu o�condemnativn, Lender may a�its e)ect�on r��uire�hat all❑r any�artion of the
<br /> net praceeds af the award be applied ta the )ndebtedness vr the repair vr restoration Qf the Property. The ne�t
<br /> prace�ds of the award shall r�ean the award after paymen�afi all reasonable cvsts, exp�nses, and attvrneys' fees
<br /> incurr�d by Trus��e ar Lender�� �annection with the candemna'�ian.
<br /> IMP�SITIUI� �F TA�CES, FEES AN❑ CHAR�ES BY G�VERNMENTAL AUTHC�RITIES� The �ollawing prQ�isions relating
<br /> to go�ernmental taxes, f�es and�harges a�e a part af#his ❑eed v#�rust:
<br /> Current Taxes. F�es and �harges. L1pon reques� by Lender, Trustar shali ex��ute such do�uments in addition to
<br /> �his Deed o�Trust and tak�whate��r other��tian is �equested by Lender to per��ct and continu� L�nder's li�n on
<br /> the Real Property. Trustor shall r�imburs� Lender f�r all tax�s, as described beitiv+r, tvgethe� with all e�penses
<br /> incurr�d in recnrding, pe�f�cting Qr con�Cinuing this L�eed of Trust, including withaut limi�ation all taxes, fees,
<br /> dacumentary s�amps, and other charges f�r recar��ng ❑r registering this ❑�ed�f Trus�.
<br /> Taxes. The fallowing sh�ll cvnsti�ute tax�� to �vhich this section applies: �1 y a speci�i� tax upan this type of
<br /> Deed of Trust vr upon afi vr any part vf the Indebtedness secured �y this Deed of Trust; �2} a speci�ic tax an
<br /> B��rrovver �hich �vrrower i� auth�rized or requir�d �a deduct from payments on the �ndebtedness secured by this
<br /> type o� Deed of Trust; �3� a '�ax ❑r� this type vf Deed af Trus� char�e��fe again�t the Lender ar the halder ofi the
<br /> �redit Agreemen�; and �4} a spe�i�ic tax an atl ar any pvrtion of the lnde�atedness ar on payments af principal and
<br /> interes�made by Svrrawer.
<br /> Subsequ�nt Taxes. If any tax ta which �his section applies is enacted subsequent tQ the date a� this L�eed vf
<br /> Trus�r �his e��n� shall h��e the s�me ef�ect as an �Went a� Qe�ault, and Lender may �x�rcise �ny or �ll of its
<br /> a�ailable remed��s far an E�en� of Defau�t as pravided befow unless Trustvr �ither {�y pays the tax before it
<br /> be��mes delinquent, or ��y cante�ts the �ax as pra�ided abo�� in�he Taxes and Liens seGtion an�1 deposits with
<br /> Lender cash ar a�uf�€cien��orpara�e surety k�ond ar other security satisf�ctor�to Lender.
<br /> SEGURITY AGREEMENT; FiN►ANCING �TATEMENTS. Th� fvllowing pro�isians r�lating tv �his Deed of Trust as a
<br /> security agreement are a part v�this Deed o'�Trust:
<br /> SeCuri�y Agreement. Thi� instrument shai� cons�i�ute a 5�cur�ty Agreement ta the eactent any v� th� Prvperty
<br /> cvnstitu��s fix�ure�, and Lend��shall hav� a�! a�th� r�ghts�f a secured party under the U�niform Cvmmercial Cade
<br /> �s amended from time ta time.
<br /> Se�urity Interest. Upon requ�st by Lender, Trustor shall take whate�er action is �equest�d by Lender �o perfiect
<br /> and cantinue Lender's secur+�y interes� in the PersQnal Property. In addition to recvrding �his Deed o�Trust in the
<br /> real p�operty r�cQrds, Lender may, at any time and w+thout further au�horization frnm Trus�or, fiie executed
<br /> coun'terparts, copies ❑r repraductivns �f �his Deed ��F Trus� as a finan�ing statement. Trustor shall reimburse
<br /> L�nder fiar all �xp�nses incurred in perfecting ❑r cantinuing th�s s�curity interes�. �pon defaul�, Trustar shall no�
<br /> remQ�e, seWer ❑r d�tach the I'�rsonal Pro��rty fr�m �he Praperty. Upon de��ult, Trusxvr shal! assemble any
<br /> Persona� Proper�y not affiixed to th� Property in a manner and at a place reasc�na�ly �an��nien� tv Trust�r and
<br /> Lend�r and mak� ifi a�ai�ahle ta Lender `nrithin three �3� days after r��eip� vfi written demand fram Lender to the
<br /> ext�nt permi��ed hy appli�ab�� [aw.
<br /> Addre��es. Th� ma�fing addresses� �f rrus�ar �debtar� and Lender tse�ure� party} fram whi�h infnrmatiQn
<br /> �vnc�rnin� #�e se�urity interest gran�ed by this ❑eed vf Trust may be vb�ained �ea�h as requ�red hy the Uni�form
<br /> Cnmmercia� Cade� are as s�ated on�he#��st page vf�his ❑e�d o'�Trust,
<br /> FURTHER A55URAN�ES; ATT�RNEY-IN-F�CT. The follawing prv�isi�ns re[ating tv �urther assuranc�s and
<br /> attQrney-in�fac�ar� a part o#this Deed o#Trus�:
<br /> Fur#her Assurances, A� any t�me, and fr�m �irne ta time, upan request�f Lender, Trustvr vuill mak�, execute and
<br /> deliuerr ❑r wifl cause to be made, exe�uted vr d�liWered, tn L�nder or to Lsnder's designee, and when requested �y
<br /> Lende�, �aus� tQ �e �iled, reGorded, re�ifed, ar rereca�c�ed, as the �ase may be, at such times and +n such offices
<br /> and plac�s as L�nder may deem appro�riaxe, any and all such mortgages, deeds o#trust, se�urity deeds, security
<br /> agreem�nts, �inancing sCatem�nt�, cvntinu�t+on sraternen�s, instruments o� �ur�ther assuran�e, c�rtifi�ates, and
<br /> other documents as may, in the s�le vprnion af Lender, be necessary vr desirab�e in arder t� effec�uate, complefie,
<br /> pert��t, continue, vr pr�ser�e �'I y Barrav�ver's and Trustar's oblig�tion� under the Credi#A�r�ement, �his Qeed vf
<br /> Trust� and the R�lated Dacuments, and {2f the lien� and secu�ity i��eres�ts created by this Deed of Trust vn the
<br /> Property, whether now owned ar hereafter acquired �y Trus�or. llniess prohibited by law or Lender agrees t� the
<br /> contrary in writing, Trus��r sha�i reimburs� Lend��r for afl cc�sts and �xpenses incurred in cann�Gtion �rvi�h the
<br /> matters refe�red tv in�his paragraph.
<br /> Attorr�ey-in�Fa�t. If Trus�or fails �a do any vf the �hings ref�rred �a in the preceding paragraph, Lender m�y do s�
<br /> for and in th� name of Trustor and at Trus�or's expense. For such purpases, Trustor hereby irre�ocably appoints
<br /> Lend�r as 7rustvr's attorney-in-fa�t fQ�the purpase Qf rnakingr B�+E'GU�kl1�, deli��ring, fi[ing, recording, and dQing all
<br /> other things as may be necessary vr des+r�ble, €n L�nder's sole opinir�n, tv accomplish the ma�ters re�erred to in
<br /> the prec�ding para�raph,
<br /> F�LL PERFURi'VIAN�E. If Bo�rower and Trustvr pay all �he Indebtedness when due, terminate� the credi� line account,
<br /> and Trustor o�herw�se perfarms aff the a��igatiQns �mpased upon Trustor und�r this G�eed of Trust, Lender shall execute
<br /> �nd deli�er �a Trust�e a requ�s� �or �ull recanveyance and shall �xecute and del�ver tv Trustvr suit�ble stat�ments of
<br /> term�nativn a� any financing s�atemen� an ��I� evid�nc�ng Lender's s�curi�� in�eres� in the f�enfis and the P�rsonal
<br /> PrQ�erty. Any recvn�eyanc��ee required by �aw shall be paid by Trustor, if�errnit�ed by app�icable law.
<br /> EVENTS �F DEFAULT. Trus�tar v�riii b� in defaul� under this Deed af Trus� i�any v�the fvllawing happen: {A� Trusto�
<br /> commits �raud or makes a material misr�presenta�ian �� any time in �annectian with �he Gredit Agreement. Th�s can
<br /> in�lud�, fo�examp�e, � false statement abvut �3arrawer's or Trustvr'S I�'1C�1'T1�, ass��s, liabilities, or any ather aspects o�
<br /> Borrawer's ar Trus�ar's finan�iai �ondition. tB} E3o�rt�wer does n��meet the repaymen�terms of the Credit Agreement.
<br /> ��� Trust�r's acti�n�r inac��on ad�ersely aff��t�the cnEiateral ar Lender's rights in�he callateral. This can include, fvr
<br /> example, �ailure ta main�ain r�quired insurance, was�e ar d�stru�ti�e use vf�he �wel�ing, failure to pay taxes, de�th af
<br /> all person� liable on the a���unt, transfe� af title or sale of the dwellin�, creativn af a senior �ien on the dwe�ling
<br /> withaut Lender's permiss�an,fareclasure by the hald�r af anather�i�n, ar xhe use o�funds ar the dwelling fnr prt�hibited
<br /> purp�ses.
<br />
|