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2� 15�7751
<br /> aEED C]� T�UST
<br /> �Contirlu�d� Pa�e 3
<br /> the maximum palicy limi�s set under the Natianat Flood Insurance Prvg�am, or as oth�rwise required by Lender, and
<br /> ta main�ain�u�h insurance for the term ofi fihe taan.
<br /> Appli�ation of Rroceeds. Trustor shall pramptly notify Lender of any Iass ar damage ta th� Prvperty if the
<br /> es�imated Gos� o�r�pa�r or replacern�nt ex�e�ds $1,���.��. Lender may make proaf of lnss if Trus�or fails �a d�
<br /> so within fi�teen �1�} days a�r t�e casualty. V11h�ther ar n�t Lender's security is �mpaired, Lender may, at Lende�`5
<br /> ele��ion, recei�e and retain the proceeds of any ins�rance and apply the prc�G�eds ta the reducti�n af #he
<br /> Indebtedness, payment of any lien affe��ing the Pr�perty, �r the restvration and repair o��he P�operty. ifi Lender
<br /> elects to a�ply th� pro�eeds t� restvrativn �nd r�pa��, T�ustor shall repair o� repiace �he darnaged ar des�rvyed
<br /> lmp�o�ern�nts in a manner sa�tisfactory to Lender. Lender shall, upon satisfactory prvof o� such expenditure, pay
<br /> or reimburse Trustor frQm the proceeds fvr the reasonable c�sx ❑f repa�r ar restora�ion tf Trustvr is nat in defautt
<br /> und�r �his ❑eed vf �Trust. Ar�y proc��ds which ha�e n�� �een di�burs�d within 18� days �fter th�ir receipt and
<br /> which Lender has nat cvmmitted tv the repair or �es�orativn of the Proper�ky sha�� be used first ro pay any amount
<br /> awing ta L�nd�r under this C�eed a�rrust, then to pay accrued interest, and th� remainder, if any, shall be appli�d
<br /> tQ the principal balan�e Qf rhe Inde�tedness. If L�nder hv�ds any proce�ds ai�er payrn�nt in full of the
<br /> Indebtedr�e�s, such pra�eeds shall be paid t�Trustvr as Trustar`s in�erest�may ap�ear.
<br /> Cvmpliance with Existing Indehtedness. During �he period in which any Existing Indeb�edness d�scribed b�iv�rv is
<br /> in �ffect, �vmp�ian�e with �he insurance pr��isions contained in the instrument e�idencing such Existing
<br /> Indebtedness shall consti�ute camplian�e with the insurance provisions und�r th�s Deed af Trust, to the extent
<br /> campfian�e vuith the terms of this ae�d o� Trust wau�d �onstitute a dupliea��ion o� insurance requirement. lf any
<br /> prv��eds frorn the insurance becorne payabfe �n ivss, the prv�isions in this Deed of Trust fo� di�ision of prvice�ds
<br /> shall app�y�nty t❑�hat p�rtion of the proceeds not payabl�to�he holder Qf�he Existing knd�bt�dn�ss.
<br /> LENC]ER'S E�CPENDITURE�. I� T�us�o� fails tA� to keep th� Property free o� a!l taxes, liens, security interests,
<br /> encumbrances, and oth�r cla�ms, ��} ta pro�ide any required insurance on #h� Praperty, �C} to make repairs �o �he
<br /> Praper�y vr to cvmply with any obligativn ta maintaEn Existing Indebfiedness in �ovd stand�ng as required �elv�, then
<br /> Lender may do so. If �ny actian vr pro�eedin� is �ommenc�d tha� uvvuid materially affiect Lerrc�er's in�erests ir� the
<br /> Prope�ty� then Lender on TrustQr's behalf may, hu� is not required tv, tak� any action �hat Lender belie�es to be
<br /> apprc�priate to prot��t Lende�'s in�er�sts. All expenses ir�curr�d or pa+d by L�nder �o� �uch purposes w�l� then bear
<br /> �n�ter�st at the rate charged under the Credit Agreement fram the dat� incurred vr paid by L�nder to the da�� of
<br /> repayment by Trus�vr. All su�h�xpense� wiE! becvme a par� af the Indehtedn�ss and, at Lender's op�ivn, will �A} be
<br /> paya�le �n dernand; �B} be added ta th� balance a��the Credit Agreement and b� appor�ioned amqng and be paya�le
<br /> with any installment paym�nts tt� b�came due durin� eith�r {�y the term of any a�pli�ahle insurance Rafi�y; or ��} the
<br /> remaininc.,� term vfi the Credir Agr�ement; ❑r t�� �e treated as a ba�ioan paym�nt which will be du� and pay�ble at�he
<br /> Credit A�reemen�'s maturity. The ❑eed vf Trust a{sa v►r�lf secure payment vf these amounts. The rights pro�ided far tn
<br /> this paragraph shall b� �n addi�ian tv any ather righ�s o� any remedies t❑ which Lender may b� en�itled on ac�oun�r af
<br /> any de#ault. Any such action by Lender shall na� be construed as �uring the d�fau�t so as tQ bar ��nd�r from any
<br /> remedy�hat i�❑therwise would ha�e had.
<br /> VIIARRANTY; [�EF�NSE QF T[TLE. The fvllowing provisions relating�o awnershi�o#the Property are a par#❑f�this Deed
<br /> of Trust;
<br /> Ti�le. Trus�vr warrants that: �a� Trustar holds go�d and mark�tahle tit1� o� re�ord to the Property in fee simpfe,
<br /> fre� and �lear of all liens and encumbrances vther than �Chose se� forth in �he Rsal Property description or in the
<br /> Existing lndebt�dness section below or in any title insurance poli�y, titfe re�ort, or final ti�le r�pinian issued in fa�ar
<br /> a�, and a��epted by, Lender in conne��ion uvith this Deed vf Trust, and �b} Trustor has �he �ull right, pawer, and
<br /> autharity t❑exe�ute and deli��r this Deed v�Trust to Lender.
<br /> Defense vf Titie. Subject tv the exceptivn in the paragr�ph above, Trust�r warran#s and will fore�e� de#end the
<br /> title t❑�the Praperty against�he I�v►rful claims af al� �ersons. In th� e�ent any a�tivn or proc�eding is �ommenced
<br /> th��ques#ions Trus�or's title�r the in#er�st❑f Trustee or Lender under this Deed vf Trust, Tru�tvr shail defend the
<br /> a�tion at Trustor's exp�nse. Trus�or may be the nominal party in such pra�eeding, bu�C L�nder shall b� entitEed t�
<br /> par�ieipate in the proce�ding and t❑ be repre��nted in the prQceeding by �aunsel af Lender's �wn chflice, �nd
<br /> Trustor vuill deli�er, ar cause�o be deli�er�d, to L�nder such in�truments as Lender may r�quest fram time�o time
<br /> �to permit su�h participation.
<br /> Complian�e 1Nith Laws. TrustQr warrants that #he Prr�per�y and Trus�or's use �f �he Property complies with alf
<br /> exi�#ing applicable laws, ordinan�es, and regulations of go�ernmen�al authorities.
<br /> 5urvi�ai of Promises. A�l promises, ag�eemen�s, and statem�nts Trus�or has made in �his Deed af Trust shall
<br /> sur�ive the �xecution and r�eli�ery of this Deed of Trust, shall be cantinuing in nature and shall remain in full �ares
<br /> and effeGt until su�h time a�Trustar'� Indebt�dness �s paid in full.
<br /> EXISTiN� 1NQEBTEDNESS. The fol�awing pro�isions�oncerning Existing Indebtedness are a part o#this D�ed o�Trus#:
<br /> Exisfi�ng L��n. The iien of this G�eed o�F Trust securing #he Indebtedn�ss may be s�candary and infe�iar to the lien
<br /> securing payment of an �xEstEng o�ligation v�ith an account numb�r �f �21��94� ta E?CGHANGE BANI�, The
<br /> existing obfigation has a current principal balan�e vf appr�ximately $��,�57.�� and is in �khe orig�nal pr�n�ipa!
<br /> amount of $47,350.��. The abligatiQn has the faffowing payment terms: $4�1.4� per Month. Trustar expr�ssl�
<br /> c�venants and agrees to p�y, or see tc� the payment of, the Existing fnd�btednes� and ta pre�ent any defaul� on
<br /> such in�ebtedness, any default under �he instruments e�iden�ing such inde�tedness, or any de�ault under any
<br /> s�curity dQ�umen��far su�h indebte�n�ss.
<br /> iVo �#adi�ica#ivn. Trustor shaff nat enter into any agreement with the holder ❑f any mvrtgag�, deed of trust, or
<br /> other security agreement which has pri�rity a�er this Deed a� Trus� by which #hat agreemenx is modified,
<br /> amended, extended, a� renewed wi#hout the pri�r written �ansent o� Lender. Trustor shall neither reques� nor
<br /> �ccept any'Future ad�ances under any such sE�urifiy agr�emen�withou��h� prior written consen�❑f Lender.
<br /> CDN�EMNATt(]N. The fo�1v►rv�ng prQ�is�ons rela�ing tt��and�mnatian pro�eed+ngs are a part vf this Leed❑�Trust;
<br /> Proceedi�gs, lf any proceeding in candemna�Eon is �iled, Trustor shall prQmptly nvti�y Lender in wrifiing, and
<br /> Trustor sha�E prvmptly take such st�ps as may he necessary to def�nd the action and obtain the award. Trust�r
<br /> may be th� nominal party in such praceeding, bu�Lender shall be entitled ta parti�ipa�e in the proceeding and ta he
<br /> represented in �he proceeding by cQuns�l vf i�ts ❑wn choEce, and T'rustar will de�iver or cause to be d�li�ered t❑
<br /> L�nder su�h instruments and docum�ntatian �s may b� �equest�d 1ay Lende� fram time t❑ time tv permit such
<br /> parti�ipatEan.
<br /> Applicat+on af N�t Proceeds. I�all or any par�a�th� Prop�rty is c�ndemned by eminent dom�in proceedings ar by
<br /> any prvice�ding or purchase in lieu af condemnativn, Lender may at its electian require that all or any �ortivn of the
<br /> net proceeds of the award be applied to the Indehtedness ar the repair or restvraxivn v� rt�� Praper�y. The net
<br /> proceeds a�the award shal[ mean the awa�d af�er payment of all reas�nahle �osts, expenses, and attorneys" f��s
<br /> in�urred by Trustee ar Lend�r in conne�tion�vith#he�ondemnatian.
<br /> �MPU5ITI�N �F TA�CES, FEES AND CHARGES gY GQVER�IMENTAL AUTH[JRITfES. The following provisians relating
<br /> �o ga�e�nmenta�taxes, fees and charges are a part o#this De�d of Trust:
<br /> Cu�rent Taxes, Fe�s and Charges. L��on r�que�t �y Lender� Trustor shall e�c�cute such dflcument� in additEan to
<br /> this Deed o�Tru�t and�ake whate�er��her action is requ�sted �y Lender to p�rfec� and cvn�inue L�nde�'s lien ❑n
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