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<br /> DEED C]F TRUST
<br /> ��orltin u�d� Page 3
<br /> imprv�ements.
<br /> PR�PERTY DAAJIAGE INSURAN�E. The following pro�isions relating to �nsuring �he Prop�rty are a part vf this Deed of
<br /> Trust.
<br /> N[ain�enance of Cnsurance. Trus#or shall procure and maintain pv�icies of fire insurance wi�h standard extended
<br /> cv�erage endorsemen�s vn a fair �alue basis �or the fu[[ insurable �a�ue cv�ering alf [mpra�ements on the Reaf
<br /> Praperty in an amount suffiicient #o a�oid application ❑f any coinsurance �fause, and wifh a standard morkgagee
<br /> clause in fa�or of Lender,together wi�h such o�her hazard and liabi�ity insurance�s L�nder may reasvnab[y require.
<br /> P�ficies sha[f be writ�en in fvrm, amounts, coverages and hasis reasonably acceptable �o Lender and issued by a
<br /> �ompany or companies rsasvnab[y acceptable to Lender. Trustor, upon request o� Lend�r, will deli�er�� Lender
<br /> �'rom time to�ime the pol'tcies or�ertifica�es❑f insurartce in form satisfac�ory to Lender, including s��pula�ions that
<br /> co�erages wi[1 nv�be cance�fed or diminished w�thout at[eas�th�r�y�3D}days privr wr�t�en no�ice tv Lender. Each
<br /> insurance policy alsa shaf[ include an endvrsement pro�idfng that co�erage in fa�or o�Lender wi�l nvt be impaired
<br /> in any way by any act, omission or default of Trustor or any a#her person. 5hvuld the Real Property be located in
<br /> an area designa�ed by�he Administrator vf the Federal Emergency Management Agency as a special �lo�d hazard
<br /> area, Trustor agrees ta vb�ain and maintain Federal F[vod �nsurance, if a�ai[able, for the maximum amaunt af
<br /> Trustvr's credit fine and�he full unpaid principa[ ba[ance o�any priar[iens on�he prope�y securing the[van, up to
<br /> the maximum policy limits set under the Natiana[ Ffv�d[nsuran�e Program,�r as otherwise required by Lender,and
<br /> to main�ain such insuran�e fic�r the term of�he loan.
<br /> Application vf Praceeds. Trusfar sha[( promptly notify Lender vf any loss or damage fo the Proper#y. Lender may
<br /> make pravf of loss if Trustar fails tv d❑ so within fif#een {'�5} days of �he casual#y. Whe�her or no� Lender`s
<br /> security�s impaired, Ler�der may, at Lender's elec�ion, re�ei�e and retain#he prviceeds of any insurance and app[y
<br /> the prviceeds to �he reduc�ion of the Indebtedness, paym�nfi of any lien affeeting �he Proper�y, vr#he restvrati�n
<br /> and �-epair❑f the Property. If Lender elects#o appfy#he pro�e�ds tv restoration and repair, Trustar sha[I repair ar
<br /> rep[ace the damaged or destrvyed Impro�emen#s in a manner satisfa�tory ta Lender. L�nder shall, upvn
<br /> sa#isfactvry proflf of such expendi#ure, pay or reimburse Trustvr ft-�m #he proceeds for �he reasanab�e cvst ❑f
<br /> repair or restaratian if Trustor is not in default under this D�ed vf Trusf. Any proceeds which ha�e not been
<br /> disbursed with En '!8� days after#heir receipt and whi�h Lender has nvt �ommi�ted �o �he repair❑r res�arativn of
<br /> �he Proper-ty sha�[ be used first to pay any amvun�awing to Lender under this Deed vf Trust,then tv pay accrued
<br /> interesf, and �he remainder, if any, shall be applied tQ the prin�ipal ba�ance vf the lndebtedness. ��Lender holds
<br /> any prviceeds af�er payment in full a� the lndebtedness, such proceeds sha[( be paid �a Trustvr as Trustor's
<br /> in#eres�s may appear.
<br /> Gomp[iance w�th Ex�s�ing [ndebtedness. During the periad in v+rhi�h any Exis�ing Indebtedness described beiow is
<br /> in effect, �ampfiance wi�h the [nsurance pro�isivns contained �n the instrument e�idencing such Exis�ing
<br /> lndebtedness shall c�nsfitute compliance with the insurance pro�isions under �his Deed �� Trust, to the ex�ent
<br /> �ompliance w�th �he tet-ms of this Dee� af Trusf would constifufe a duplicativn ❑f insurance requirement. !f any
<br /> praceeds frvm the insurance become payable on loss, the pro�isions in this Deed of Trust�ar di�isivn of proceeds
<br /> shal!app�y❑nly fa that portion of the proceeds nvt payable to the holder o�the Exis#ing fndebtedness.
<br /> LENDER'S EXPENDITURES. lf Trus�or fa�ls �A} #o keep #he Praper-ty free af all �axes, [iens, securify interests,
<br /> encumbrances, and o�her claims, �B} tv pra�ide any required insurance on the Property, �G} �a make repairs fa fhe
<br /> Property ar to comply with any obligation to mainta�n Existing [ndebfedness in govd standing as required #�elaw, then
<br /> Lende� may do sa. If any ac�ian or prviceeding is commenced �ha�wvuld ma�erially affec� Lender's [nterests �n the
<br /> Prvperty, �hen Lender on Trustor`s behalf may, but is nvt r�quired to, take any act�on thafi Lender belie�es #o be
<br /> apprvpriate to pro�ect Lender's inferes�s. All expenses incurred vr paid by Lender for such purpc�ses wi�l then bear
<br /> �nteresfi at the ra�� charged under �he Credit Agreemen� �rom the date incurred vr paid by L�nd�r �v the dat� af
<br /> repayment by Trus�ar. A�� such expenses wi l I became a park vf the I ndebtedness and, a�Lender's❑pti vn,wi 1 l �A} be
<br /> payab(e vn demand; (B} be added tv th� balance af the Credifi Agreement and b�apportioned among and be payable
<br /> with any instal[men�paymen�s�a become due during eifher �'�} the term of any applicable insurance palicy; or ��} the
<br /> remai n�ng term of the Cred�f Agreement;or �C} be treated as a baf laon paymenf wh i ch w��I be due and payab[e at the
<br /> Credit Agreement's mafurity. The C]eed of Trust a[so will secure paymen�of these amounts, The righ�s pro�ided for in
<br /> this paragraph shall be in addition�v any other righ�s or any remedies fo which Lendsr may be en�it[ed on aocaunt of
<br /> any defau[t. Any such ac�ian by Lender sha[I not be construed as cur�ng the defau[t so as to bar Lender from any
<br /> remedy fihat it o�herwise would ha�e had.
<br /> WARRANTY; DEFENSE�F T1TLE. The follawing pro�is�ons refating ta vwnership of fhe Prap�tty are a part of this �]�ed
<br /> o�Trust:
<br /> Title. Trus�or warrants tha�: �a}Trustor holds good and marketable title of r-ecord tv the Prvper-�y in fee simple,
<br /> free and clear❑� a[1 [isns and encumbrances ather than those se#for#h in �he Real Prnperky descripti�n or in the
<br /> Existing Indeb�edness sec�ion be[vw or in any title insurance poli�y, tit[e repar�, or final�itle opinion issued in fa�or
<br /> of, and accepted by, Lender in conne�tion with this Deed❑f Trust, and ��}Trus�vr has the �ull right, power, and
<br /> auth�rity tv execu#e and del i�er�h is Deed of Trus��v Lender.
<br /> Defense of Title. 5ubje�t�a the exception in the paragraph abo�e, Trustar warrants and wil� fvrever de�end the
<br /> tft[e tv�he Praperky agains�the lawful claims of all persons. ln the event any ac�ian or proceeding is commenced
<br /> that questions Trus�ar`s tit[� or the infierest of Trustee ar Lend�r under this De�d of Trusf,Trustar shal[defend�he
<br /> a�tion at Trus�flr's expense. Trustor may be fhe nvminal party in such proceeding, bu� Lender shall be entitled to
<br /> participate in the proceeding and t� be repres�nted �n the proceeding by counsel af Lender's awn ch�ice, and
<br /> Trustor wi[1 deli�er, or�ause to be de[i�ered,�o Lender such ins�rumen�s as Lender may request from time ta time
<br /> to permi�such participati�n.
<br /> Cvmpliance With Laws. Trusfvr warran�s �ha�fhe Property and Trustar's use ot �he Prvper�y �ompfies wifih a�l
<br /> exis�ing applicab�e laws,ordinances,and regu[a�ivns vfi go�ernmental authorities.
<br /> Sur►���al af Promises. AII prvmises, agreements, and s�atements Trus�or has made [n this Deed of Trust shai�
<br /> sur�i�e the execufion and de[i�ery vf this Deed of Trust, shall he con#inuing in na�ure and shal[ remain ir�full force
<br />: and effect un�il such�ime as Trus�ar's lndeb�edness is paid in fu1f.
<br /> EXIST�N�INDEgTEDNESS, The following pro�isions concerning Existing indebtedness are a part af this Deed of Trust:
<br /> Existing Lien. The lien of �his fleed of Trust secur�ng the Indebtedness may be seconda�-y an�d inferior ta an
<br /> exis�ing lien. Trustvr expressly �v�enan�s and agrees tv pay, vr see�o the payment vf, th� Existing lnd�b�edness
<br /> and to pre�ent any default on such indeb�edness, any default under fhe�nstruments e�idencing such indebtedness,
<br /> or any default under any se�uri#y documents for such indebtednsss.
<br /> No [Vladi�icafion. Trustor sha[[ nv� en�er �nto any agreement wi�h the halder vf any mor�gage, deed vf trust, or
<br /> vther security agreemenf which has privrity v�er fhis Deed ❑f Trus� by which #hat agreement is modified,
<br /> amended, extended, ❑r renewed w��hau� �he prior written cvnsent vf Lender. Trus�ar shall neither request nar
<br /> accep�any future ad�ances under any such security agreemen�wi�haut the prior wri�ten cansen�of Lender.
<br /> CQNDEMNATC�N, The follvwing prv�isions relating#v condemnation proceedings are a part of�his Deed af Trus�:
<br /> Proceedings. If any proceeding in candemnation is fi[ed, Trusto� sha[� prvmp��y nvfiify Lender in writing, and
<br /> Trustor sha[[ promptly take such sfeps as may be necessary�❑defend the ac�i�n and obtain�he award. Trustvr
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