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2� 15�8424
<br /> DEED �F TR[��T
<br /> ���nt��ued� Page 3
<br /> the maximum pQlicy limits set unde�the Nativnal Fload lnsurance Prvg�am, ar as otherwise required k�y Lender, and
<br /> to maintain such insuranGe for the term af�he lvan.
<br /> Applicativn af Pro�eeds. Trustor sh�ll promptly natify Lender a� any Ivss ar dama�e to �h� Praperty �f the
<br /> estimated cost o� r�pair�r replacement exceeds �1,���.��. L�nder may make praof of Ioss i�TruS�or fails t� do
<br /> so within fif�een �15� days af the casualty. 1Nh��Ch�r or nat Lender's security is impaired, Lender may, at Lender's
<br /> �IectiQn, r�c�i�e and retain the �rac��ds af any insurance and apply the proceeds t❑ �he reduction �f the
<br /> Ind�k�t�dness, payment �f any lien affec�ing the P�aperty, �r the r�storation and repair �f the �roperty. [# Lender
<br /> elects to apply the prv�eeds t❑ restaration and repair, Trustor shall repair or replace the damaged �r destrvy�d
<br /> Impr��ern�nts in a manner satisf�c�ary to L�nder. Lender sh�ll, upon satisfa�tory proof of such expendi�ure, pay
<br /> ar reimburse Trustor from �the pr�ceeds �ar the reasonable �ost of r�pair or restv�ation if Trustor �s not in default
<br /> under �his Deed of Trust. Any proc�eds which ha�e nv� be�n dis�urse� within �8C3 days after �heir receipt and
<br /> which Lender has not cammitt�d ta the repair or �estora�ion o�the Pro��rty shall be used firs�ta pay any amount
<br /> owing ta L�nd�r und�r rhis D�ed ��T�us�, �hen to pay ac�rued in�erest, and the �emainder, E� �ny, shall b� appli�d
<br /> to the p�incrpal baiance �� fihe lndebtedness. Cf Lender h�fds any proceeds after payment in full Qf the
<br /> Indebt�dness, such proceeds �hall be paid to Trustvr as Trusto�'s interes�s m�y appear,
<br /> Compliance v�rith Existing Ind�btedness. During the periad in which any Exis�ing �nde�tedness des�ribed bel�w is
<br /> in effec�, compliance with �he insuran�e prv�isions contained in the instrument e�iden�ing such Existing
<br /> Ind�btedness shall constitute �ompliance with the insurance pra�isions under this [�e�d of Trust, to �he extent
<br /> camplianG� with the terms of this d��d af Trust v�auld cons�i�u�e a duplicatian of insurance requirement. lf any
<br /> praceeds �ram the insurance �ecame payable on lass, the pr��isivns in this Deed af Trus�for di�ision af prflceeds
<br /> shall apply only to that partiQn�f the pro��eds nat payable tv the holder o�the Existing Ind�b�edness.
<br /> LENQER'S EXPENDNTURES. If Trustar faiis �A} to keep the Prap�r�y free ❑f ali taxes, iiens, se�urity in�erests,
<br /> encumbrances, and vther claims, {B� t� pra��de any required insurance �n the Pr�perty, �Cy to make repairs tQ the
<br /> Property �r to carnp�y with any obligatian to maintain Existing �ndebt�dness in good standing as required belvw, th�n
<br /> Lender may dt� so. I� any action �r proceeding is �ommenced th�t wQuld materially affect LendEr"s interests in th�
<br /> Prvp�rty, th�n Lend�r �n Trustar's �aehai� may, but is not r�quired �o, �ake any action that Lender belie�es ta be
<br /> apprvpr�ate t� pratect L�nd�r�5 int�r�sts. All expenSes incurr�d vr paid by Lender f�r such purposes will �hen hear
<br /> interest �� th� rate charged under the Cr�dit Agreement frarn �he dat� incurr�d ar p�id by �.ender to the date af
<br /> repayment by Tru���r. All such �xpenses will become a part ofi th� fndeb��dness and, at Lenderrs option, ►rvi�l �A} k�e
<br /> payable on demand; tB} be added to �he balance of the Credit Agr�ement and be apporti�ned among and be payabl�
<br /> with any installment payments to become due during e�ther t 1 y the term t�f any applicable insurance pQlicy; ar ��y the
<br /> remaining t�rm af th� Cr�d�t Agreem�n�; �r �Cy be treated as a b�l��vn payment whi�h will be due and payable at the
<br /> Credi�Agreement's matu�ity. The De�d of Trust also wi[[ s�cure payment of these amoun�ts. The rights prv�ided for in
<br /> this paragraph shalf �e in addition to any a�her rights or any remedies tv whi�h Lender may be entEtled on accvunt ❑f
<br /> any de�ault. Any su�h action by Lender shall not be c�nstru�d as curing the default so as �t� bar Lender frvm any
<br /> remedy that i�atherwise would ha�e had.
<br /> `IVARRANTY; DEFENSE L7F TITLE. The fQllowing prr��isiQns r�iating to v►�nershi�of the Prvperty ar� a part❑�thiS Deed
<br /> af Trust;
<br /> Tit�e. Trus�or warran�s �ha�: �a} Trust�r h�ids good and marketahle title ofi recard tfl the Property in fee simple,
<br /> firee and clear af all liens and �ncumbranc�s �ther than thvse se� forth in �he Real Praperty desc�ipti�n or in the
<br /> Exis�ing Ind�b�edness section �el�w �r in any�itle insurance p�li�y, ti�le repart, or final ti���apin�on issued in fa�or
<br /> of, and accepted by, Lender in Gonnection wi�h this Deed of Trust, and {b� Trustor has �he fu1� right, power, and
<br /> authority to ex��ute and deli�er this Deed ot Trust to Lender.
<br /> Qe#ense Q�Tit�e. Su��e�� to �he e�ception in the paragraph ab�ve, Trust�� warrants and will �are�er defend th�
<br /> �itle fi❑th� Property against the lawful claims of all persons. In the s�ent any activn or prv�eedin� is commen�ed
<br /> that questians Trus�ar's ti#le or the inter�st o�r Trustee ar Lender under this ��ed of Trust, Trusior�ha�l defend the
<br /> act�on a�Trusfior'� expense. Trustor may �e the nominal par�y in su�h proce�ding, hu�C L�nder shall ae �ntitled tc�
<br /> participate in �h� proceeding and t❑ be r�p��sented in �he pra�eeding hy Gounsel af Lender's c�wn choi�e, and
<br /> Trustvr wi11 deli�er, or cause to be deli�er��, to Lender such instrurn�nts as Lend�r may request fr�m �im�tv time
<br /> �o p�rm�t su�h partiGipation.
<br /> �ompliance W��rh Laws. Trustar warrants that �he Proper�y and Trus�ar's use of the Pr�per�y cvmplies wifih all
<br /> existing app�icabl� laws, ordinan�es, and regulations afi go�ernmentaE auth�rit�es.
<br /> Sur►riv�l of Prvmises. All promises, �greements, and stat�ments Trustvr has made in �Chis Deed of Trus� shall
<br /> sur�i�e the execut�on and d�li�ery Qf this Deed of Trus�, shall be cantinuing in nature and shall remain in full fvr�e
<br /> and e�fect until such tirne as Trustor's Indebfi�dness is paid in ful�.
<br /> EXI�TING INQ��3TEDNESS. The fo�iowing pro�isivns concerning Exis�in� lndeht�dness are a parx o��his C�e�d af Trus#:
<br /> Existing Lien. The I�en v# #his D�ed vf Trust s�euring the �ndebt�dness may be secondary and �nferior to an
<br /> e��sting lien. T�usta� expressiy cQ�enan�s and agrees ta pay, vr �ee t� the paymen� of, �he ExEsting Indebtedness
<br /> and ta pr�v�nt any de�ault on suGh ind�btedness, any d�fault und�r�h� rnstruments eviden��ng suGh indehtedness,
<br /> or any d�fauit under any seeurity d��uments for such indebtedness.
<br /> Nv Madifi�ativn. Trust�r sh�ll nvt enter into any agr�emen� with the ho�der ❑f any m�rtgag�, de�d of trust, or
<br /> other se�urity agreement which has priority o�er thiS D��d D� Tt'LISt by which that agreement is m�dified,
<br /> amended, eact�ndedr �r ren�wed v►►i�hout the prior written consent of Lender. Trustar sha�� neFther request n�r
<br /> accept any future ad�ances under any su�h security agreement withoufi the prior written �vnsent o�Lender.
<br /> C�NDEMNATE�N. The fv�lvwing prv�isions rela�ting to condemnatian pra�eedings are a part❑f this C�eed c��Trust:
<br /> Praceedings. If any praceeding in ��ndemnation is filed, Trustor shall promptly notify Lender in writing, and
<br /> Trus�or shall prompt�y take such steps a� may be neces�ary �o d�#end the ac�ion and a�tain the award. Trustor
<br /> may be the nominal party in su�h proceeding, �ut Lender shall be enti�led�v participa�e in th�p�oce�ding and t� b�
<br /> represen�ed in the praceed�ng by cvunsel �f Ets vv►rn chai�e, and Trus�or �vill deli�er or cause t❑ be deii�ered tv
<br /> Lender such instruments and d�cum�ntation as may be requested by Lender fram �ime to t�me tQ permit such
<br /> parti�ipa�ian.
<br /> App�iGation a�Net Proceeds. if all or any part��the Property is condemned by eminent domain prac��dings or �y
<br /> any proce�ding or purchase in lieu of cQndemnation, Lsnder may at its ele�tion require�Chat all vr any pv�t�on af the
<br /> ne� proceeds of the award be applied �v the Ind�bfiedness or th� repair vr restaration of �h� Prvperty. The n�t
<br /> proceeds of the award shall mean the award after payment vf all reasvnable costs, expenses, and attvrneys' fees
<br /> inGurred by Truste�or Lender in connection wEth the condemnati�n.
<br /> lilliPDSITION �F TA�E�, FEES AND CHARGES BY GOVERNMENTAL AUTHflRITIES. The following p�o�isians reiating
<br /> fia go�ernmental tax�s, fees and charges are a p�rt of this ❑eed a�Trust:
<br /> Curr�nt Taxes. Fees and Gh�rges. Upvn rec�uest by Lender, Tr�astor shall exe�ute such documents in addition �o
<br /> th�s Deed o��Trust and tak� whateW�r�ther actian is requested by Lender�o perfect and �an�inue Lender's lien vn
<br /> �he Rea� Pr�perty. Trustor shall reimburse Lende� �or all taxes, as described b�low, together with a�l expenses
<br /> incurr�d in r�cording, perfec�ing Qr cantinuing this De�d vf Trust, includ�ng wi�hout limitation all taxes, fees,
<br /> d�cum�ntary stamps, and vther�har��s �or recording or reg�ster�ng this Deed af Trust.
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