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2� 15�7983
<br /> �EED DF TRUST
<br /> �Gt�ntinu�d� Pag� 3
<br /> area, �rustor agrees to �bta�n and ma�nta�n Federal Flaod �nsurance, i# a�aiiable, for th� maximum amoun� of
<br /> Trustvr's credit line and �he full unpaid principal balance of any prior fiens nn the prap�rty securing the Ioan, up ta
<br /> rhe maximum pvli�y lirnits se�und�r th� Natianal Fload �nsurance Pragram, ar as atherwise required by L�nder, and
<br /> to rn�intain such insurance f�r the t�rm a�the��an.
<br /> Appii�ation v# Proceeds. Trustor sha�� pramptfy nati�y Lender af any loss ar darnage to the Prap�rty Ef the
<br /> estimated cost of repair or replacement ex�eeds $1,oDo.�JO. Lender may make prfl��of lass �f Trustar fai�s ta do
<br /> so vvi�hin #i�teen ��5} d�ys af the casualty, Whe�h�r ar n�� Lend�r's se�uri�y i� impaired, Lender may, a�Lender`s
<br /> election, recei�� and retain the pro�eeds fl� any insuran�e and apply the proceeds to the reductian of the
<br /> lnd�btedness, payment of any lien a#�e��ting th� Prca�erty, or the restoratian and repair vf the Prvper�y. If Lend�r
<br /> �ie�ts ta apply the pr�ceeds t� restoration and repair, Trustor shall repair or replac� the damaged �r destrvyed
<br /> Impro�ements in a mann�r sa�isfaG�ary �❑ Lender. Lender shal�, upvn satisfiactvey pro�f of such expenditure, pay
<br /> ar ��imbur�se Trustor from the praceeds for the reasonable cost of repair or res�tara�ion if Trust�r is n�t in default
<br /> under this ❑e�d ❑f Trust. Any pro�eeds whi�h ha�e not been di�bursed within 180 days a�t��r th�ir receip� and
<br /> whi�h Lender has nat committed to the repai� �r r�staration of the Property shal� be used #irst ro pay any amount
<br /> owing ta Lend�r und�r this Deed of Trust, then to pay a��rued in�eres�, and the remainder, if any, shall �e appl�ed
<br /> ta the principa� balanc� nf �he Ind�btedness. If Lender holds any prviceeds �fter payment in full of th�
<br /> tndebtedness, sueh proceeds shall be paid�a Trustvr as Trustar's interests m�y appear,
<br /> Cnmp�ian�e with Existin9 �ndebt�dness. During �he period in v�rhich any Existing Indebtedness d�scribed befow is
<br /> �n effiect, cvmp�iance with the insuranGe pr��isions Cantained in the instrument eviden�ing su�h Existing
<br /> Inde�tedness shall constitute �Qmp[iance with the insurance pr��isions under this Deed af Trust, �❑ �h� ext�nt
<br /> compliance �nrith the terms v� this Deed ❑f Trust wauld can�titute a dup�i�ation of �nsuran�e requir�ment, I� any
<br /> proce�ds from the Ensuran�e heeome payabl�❑n I�55, the pro�isions in this Deed o�Trust for di�ision �f prcace�ds
<br /> shall apply❑nfy to that pvrtion af the praceeds n��payable to#he holder�f the Existin� ind�btedness.
<br /> LENDER'S EXPENq1TURES. �f Trustor fai�s �Ay �o keep �he Praperty fire� vf ali taxes, liens, se�urity inte��sts,
<br /> enGumbrances, and ❑�her claims, �B} �a prv�ide any required insurance an the Prnp�r�y, {C� �❑ make repairs t� the
<br /> Property or to c�mply w��h any obli�atiQn ra maintain Existing indebtedness in good standing as required b�lo►nr, then
<br /> Lend�� may d� so. If any a�t�on ar proceeding is commenced that w�u�d ma�erially affec� Lende�'s inter�sts in the
<br /> Praperty, then Lender on Trustar's beha�� ma}�, �au� is nQt r�quired to, take any a�tion that Lender he�ie�es ta be
<br /> apprvpriate ta pratect L�nder's interests. All exp�nses incurred or paid �y Lcnder fvr such purp�ses will then bear
<br /> interes� a� the rafie charged under the Cr�dit Agr�ement from the da�Ce incurred or paid hy Lender to tMe date ❑f
<br /> repayment �y Trustor. A11 such expenses w��! be�vm� a par�t o#the lnd�btedn�ss and, at Lender's optivn, will �Ay be
<br /> payable an demand; tB� be added ta �he fiaalance a�the Gredit A�reement and be appart�oned amang and �e payabl�
<br /> with ar�y installment payments to�eG�me du�during�ither �1 y �he term of any a�pticable insurance p�Cicy; or ��y the
<br /> remain�ng term�f�he Credi�Agr�em�nt; ❑r ��� �e treated as a ballaon payment whi�h wil� be due�nd paya�ie at the
<br /> Credit Agr�ement's maturity. The Deed of Trust also will secure payment Qf these amvunts. The righ�s prvvided for in
<br /> this p�ragraph �ha�ll be in addition to any a�h�r righ�s ar any remedie� t� wh':ch Lend�r may be �nt�tied on ac�aun� of
<br /> any de��uit. Any su�h ac�ion by L�nder sh�ll not ae construed as curing the de�ault sa as to bar L�nde� from any
<br /> remedy�hat it otherw�s� would ha�e had.
<br /> li1�ARRANTY; �EFENSE DF TIT�E. The fa�fawing pro�isivns �elating t❑awnership v�th� Prvper�y �re a par�C a�this Deed
<br /> vf Trust:
<br /> T�tle. Trust�r warrants that: �af Trustc�r holds goad and marketab�� tit�� of record tv the Pr�perty in fee �imp��,
<br /> free and clear vf all liens and en�umbrances ather t�an th�se s�� forth in �he Real Praperty d�scription or in �he
<br /> Exis�ing lndeb�edness secti�n belaw or ir� any�iti� insuranc� pvl�cy, title repQrt, or�inal title opinivn issued in�ra�or
<br /> o#, and accepted by, Lender in connection with this Deed af Trust, and �h} Trustar has th� full right, powe�, and
<br /> au�h�rity ta exe�u�� and deli��r this D�ed af Trus#ta Lender.
<br /> Def�nse o#Title. Sub�ect to the excep�Cian in the paragraph abo��, Trustor v�rarrants and will fa�e�er def�nd the
<br /> title ta the Praperty a�ains�the lawful claims vf all persans. In the e�en� any action or praceeding �s commen�ed
<br /> �hat qu�stic�ns Trus�ar's�citle or th� int�rest of Trustee or Lender under this Deed of Trust, Trus�or shall defend the
<br /> action at Trustor's expense. Trustor may k�e the nvminal party in �u�h proG�eding, but Lender �hall be entit�ed to
<br /> participate in the prac�eding and to he represenred in �he pra�eeding by cour�sel vf Lender's own �hoEce, and
<br /> Trustor will deli�er, vr �aus�ta be deli�e�ed, tfl Lender such instruments as Lender may reques�frvm time to tim�
<br /> to permit such partEcipation.
<br /> Compliance With Laws. Trustor warrants �ha� the Prpper�y and Trustor's us� vf the Prvperty �ompf�es with ali
<br /> exis�ing appliGabfe laws, ordinan�es, and regu�a�tions ot ga�ernmental authorities.
<br /> Sur�ivaf o� Pram�ses. A!I promises, agreements, and s��temen�� Trustor has m�de in this Deed af Trust shaff
<br /> sur�i�e the exe�ution �nd deli��ry af this Deed of Trust, shall be can�tinuing in na�ure �nd shaif remain in fu�l farce
<br /> and�f�ect until such�ime as Trustar's Indebt�dness �s paid in ful1.
<br /> Ex15T�N� INDEBTEDNES�. Th�fallowing prv�isi�ns can�erning Existir�g Ind�b�edr�ess ar�a part v�th�s Deed of Trust:
<br /> Existing Lien. The lien of this Deed �fi Trust securing the In�i��tedness may �e se�t�ndary and infierivr t� an
<br /> existin� fien, Trustor expressly ca�enants �nd agrees ta pay, or see ta #he payment of, the Exist+ng Indehtedness
<br /> and to pre�ent any def�ult on such ind�btedness, any de�aul� und�r the ins�rumen�Cs e���encing such in�eh�edrr�s�,
<br /> ar any default under any security documents fvr such indeb�edn�ss.
<br /> Na Madifi�ativn. Trustor shall n�t enter intv any agreement wi�h the holder vf any mortgage, deed of trust, or
<br /> o�rher security agreement which has priarity ��er this Qeed af Trust by which that agreement is modifi�d,
<br /> amend�d, e�tended, or renewed wi�haut the prior writ�en consen� ofi Lender. Trus�or shall neither request nQ�
<br /> accept any future ad�ances und�r any such seGu�ity agreement without�he privr wri�ten cons�nt at Lender.
<br /> CQNC�EIVINATIDN. The�ollvwing pra�is�ons reiating�a candemnation pr��e�ding� are a part�f thi� Deed of Trust:
<br /> Proc�ed�ngs. l� any proceeding in candemnatian is �ifed, Trust�r shal! promp#ly no�ify Lender in writing, and
<br /> Trustar shall promptly take su�h steps as may be n�cessary to defend th� action and c�btain the award. Trustar
<br /> rn�y be the nvminal party in such pro�e�ding, bu�Lender�hall be entitled�o particip�t�in the proceeding and t❑ be
<br /> represented in the pro�eeding �y eouns�l o� its �wn chv�ce, and Trustar wilt deli�er ar cause to b� delE�ered ta
<br /> Lende� such instruments and dv�um�ntation as may �e requested by Lender �rom time to �ime tv p�rmit su�h
<br /> p�rti�ipati�n.
<br /> App�icativn o'�Net Pra��eds. If al� or any part of the Praperty is condemn�d by eminent domain proceedings or by
<br /> any proceeding or purchase in lieu of cvndemnation, L�nder may at its electivn requir�that al!vr any portivn o#the
<br /> ne# �ro�eeds �f the award be applied to the lndebtedness vr the repair ar restora�i�n a�f the Property. The net
<br /> pr��eeds of the award shalf inean the �uvard a���r paym�nt af a11 reasQnahle costs, �xp�nses, and attarneys' fees
<br /> incurred by Trustee or Lender in conne��ivn with�he�ondemnation.
<br /> IMPQSIT[�N DF TA�ES. FEES AND CHARGES 61f CUVERNMENTAL AUTHDR�TIES. The fQ�l�win� prv�isi�n� relatin�
<br /> to gv�ernmental�axes, fees and charges ar� a part o��hi� ❑eed a�Trusfi:
<br /> Current Ta�es. Fees and Charges. Llpon request by Lender, Trustor shall execute such documents in addit�on to
<br /> th�s Deed of Trust and take u�rhate�er other action is requ�st�d by Lender to perfeG�and continue Lender's lien vn
<br /> the Rea1 Property. Trustor sh�ll reim�urse Lend�r for all taxes, a� described �elQw, t�geth�r with all expens�s
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