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2� 1 �� 1 �88
<br /> DEED �F �RU�T
<br /> Loan �Vve 87�a���7� �Cvn#itlu�d� F�a�e �
<br /> area, Trustor agre�s to obtain and maintain Federa[ Fl�od fnsurance, if ��ai[ab1�, far the maximum arnvunt of
<br /> Trustor's credi� �ine �nd the ful� unpaid principa! balanc� �f any privr liens fln the praper�y s�curing the laan, up ta
<br /> the maximur-n policy[imits $et under tl�e Nationaf Flaod Insurance Pragram, or as athe�wise required by L�nder, and
<br /> tv main�ain such insurance far the term af the Ivan.
<br /> Applica�ion vf Praceeds. Trust�r shall promptly n�tify Lenc��r af any lass ar damage �a the Prap�r�y. L�nder may
<br /> ma�e pra�f �f iflss if Trustor fails to da sa within fif�een (1 5� days af the casualty. 1Nhether or nofi Lend�r's
<br /> security is impaired, L�nder may, at Lend�r's elect�an, receiWe and retain �he proceeds Qf any insuranc� and apply
<br /> the proc�eds to th� reducti�n o� th� Ind�btedness, payment v� any li�n a�fec�ing th� P�operty, ❑r th� r�staratian
<br /> and r�pair a��h� PrQperty. I�F Lender ele�ts �❑ appiy�he proceeds to restoration and repair, Trustar shaf� re�air ar
<br /> r�pf a�� �the damag�d or destr�yed �rnprav�ments in a manner satisfactary t� Lend�r. Lender shal�, upan
<br /> satisfiacta�y pro4f �f su�h e�cp�nditure� pay or reimburs� Trustor from the proc�eds f�r th� reasflnabl� �ost a�
<br /> repair ❑r res�ora�ian if Trustar is nat in defaulf under �his Deed af Trus�. Any proceeds which have nat beera
<br /> disburs�d within '�8�3 �ays aft�r their receEpt and whiGh Lend�r has na� cammitted �ta the r�pair �r r�stvration of
<br /> fihe Prap�r�y shall be us�d �irst ta pay any amount aw�ng ta Lender under. this Deed a�Trust, then to pay a��rued
<br /> �n�er�st, and the r�mainder, if any, shall be appli�� t� the principa� �alan�e o# �he Ind�btedness. If Lender htilds
<br /> any praceeds afit�r payment in full of the [ndebtedness, such proceeds shall be �aia1 t� Trustor as Trust�r's
<br /> interests may appear.
<br /> �amplianc� with E�€isting lndeb�edne�s. During the period in whiGh �ny Existing �ndebtedness descr�bed beE�w is
<br /> in �ff�ct, c�mpfiance w�th the �nsurance pra�isions c�ntained in th� in��rurnent ��idenc�ng such Existing
<br /> lndebteciness shall consti�u�e camp[ianGe with the �nsurance pr��Esions under this Deed of Trust, ta �h� ext�nt
<br /> c�mp�iance with the terms �f this ❑eed ❑f Trust would c�nsti�ute a duplicatian af insurance requir�ment, [f any
<br /> praceeds frorr� the insurance becorr�� payabie ❑n �oss, the praWisians in this D�ed of Trust far diWision of proceeds
<br /> sha�l apply�nfy fi�that portion of th�praceed� not payable�o the ho�d�r❑f the Exis�r�ng Inde��edn�ss.
<br /> LENDER'S Ei�PEND[TURES. !� Trustflr fails �A} t❑ ke�p the Propert� fr�s ❑f all �a�C�Sr liens, security interests,
<br /> encu�nbran�es, and v�her cfaims, tB� ta pr�vide any required insurance on the Property, �C� to make repairs ta th�
<br /> Pr�perty or �❑ compl� with any ❑b[igati�n t❑ maintain Existing Indebtedness in gaod standing as required below, then
<br /> L�n��� ma� do sfl. [f any actEon or pro�e�ding �s c�mmenced that would mat�rially af�ect Lender's interests in the
<br /> Praperty, then L�nder an Trustor's behalfi may, but is not requir�d �o, take any ac-�i�n fihafi Lender beli�ves �❑ b�
<br /> �pprapria�� to pr�tect Lender's in�eres-ts. Ai! expense� incurred ar paid by L�nder fflr su�h purpas�s wilf then �ear
<br /> inter�st at the rate charged under th� �redit Agreemenfi �Fram th� date incurred ar pa�d by Lender t❑ �he dat� ❑f
<br /> repaym�nt by Trustar, Ali such expenses wilf bec�me a part of the �ndebtedness an�, afi Lender's option, �vil� �A} �e
<br /> pa�rable on demand; {B� be added to the ba�ance of the Credit Agreement and be apporti�ned among and be paya�fe
<br /> �nri�h �ny installment payments tQ became due�u�in� eith�r {�} the �erm o�any appliGabl� insurance poficy; ar ��� the
<br /> remaining terrr� �f the Credit Agreement; or ��� be treated as a balfoon payment which wili b� du� and pa�abfe a�the
<br /> �redit Agr��ment's maturity. The Deed af Trus�t alsa will se�ure payment o��hese am�unts. The rights proWided for in
<br /> this paragraph shal� he in addition �o any o�h�r rights or any r�rr�edies t� which Lend�r may be �n�itled on accaunt �f
<br /> �ny �efaufto Any su�h a�tion by Lender sha1l nat b� c�nstrued as curing fih� default s❑ as ta bar Lend�r frflm any
<br /> �emedy that it oth�rvvise would hav� had,
<br /> WAF�RANT1r; aEFEIVSE�F T[�'LE. The '�a�l�wing pra�isi�ns relating ta �wnership❑�F�he Property ar� a part❑�this Deed
<br /> of Trust: �
<br /> Titie. Trustor warrants that: �a� Trustar holds gQod and marl€etabl� �itle of recard to the Praperty in fe� simp[e,
<br /> free and Glear a�f al[ IEens and encumbrances flth�r than thase ��� forth in th� Reaf Praperty descripti�n ar in the
<br /> ExEsting �ndebtedness section belaw ar En any title insuranee policy� titfe repart� or fina� titl� apin�on issu�d in faWor
<br /> ❑f, and accept�� hy� Lender in cannecti�n with th�s �eed af Trust, and �b� Trust�r has the �ull righ�, power, and
<br /> authQrfty to e�€�cute and de�iver thi� I�eed of Trust to Len��r,
<br /> [3efense ❑f Titl�. �ubject �o th� exc�pti�n in th� paragraph ab�We� Trust�r warran�s and will far��er defen� the
<br /> title to the Praperty against the fa�vful �laims af a!I persons. fn the event any action or proGe��iing is camm�nced
<br /> that qu�stians Trustor's title or the inter�s�o�Trust�� or L�nder under this Qeed �f Trust, Trustar sha�[ defend the
<br /> act€or� �t Trustor's expensea Trustar may be the nominal party in such prac��ding, �ut Lender shalf be entitled to
<br /> parti�ipate in the proceeding and to be represented in the prace�ding by c�uns�l a-� Lender`s ❑wn chai�e, and
<br /> Trustar wi11 delf��r, or caus�-�� be delivered, fir� Lend�r suGh ins�ruments as Len�er may request frflm time to tim�
<br /> to permit such pa�i�ipation.
<br /> Campliance Wifih Laws. Trustar vvarrants that th� Property and TrusfiQr's use of the Property comp�i�s wi�h a[i
<br /> existing appficable laws. ordinances, an� r�gulatians af governmen��l autharities.
<br /> �urvival of Pr�mises. AI1 pramises, a�reemen�sf and stat�ments Trustar has made in this Deed of Trust sha�f
<br /> surWi�e the �xecution and deliWery of thi� Deed ��Trust, shaf! �e �on�inuing in natur� and shafl rema�n in ful[ force
<br /> and e-�fe�t unt�l such�ime as Trustor's [ndebtedn�ss is paid �n fufl.
<br /> E3C15T1N� INaEBTEDNESS. The fallawing prarrisions con�erning Existing Ind�htedness are a part af this De�d af Trust:
<br /> Existir�g Li�n. The [i�n af this ❑eed af Tr�tst se�u�in� the Ind�b�edness may be secondary and inferior fi❑ an
<br /> �xist�ng lien. Trusfiar expressly co�enants.and agrees to pay, or see ta the payment of, th� Existin� Inde�tedn�ss
<br /> and to pre�ent any defauft or� such �nde�te�ness, any de�ault under the �nstruments evidencing such indebtedness,
<br /> �r any de�Fault under any security dacurnents for su�h indebtedness,
<br /> No N[adifica�ion. Trus�or shalf n�t ent�r into any agr��ment with fih� holder of any rnartga�e, deed of trus�, flr
<br /> a-ther secur�ty agr�ement which has priarity o�er this Deed af Trust by whi�h that agreern�nt is madif��d,
<br /> amended, e�€t�nded, ar ren�wed ►nrithout the priar written eonssnt �f Lendere Trustar shall ne�ther request nor
<br /> acc�pt any�ufiure advan�e� under any such se�urity a�r��ment wi�hvut�he pri�r�vritten eonsent of Lenai�r.
<br /> �QNDE111IN�►TI�N. The�Following pr��is�ons relating to candemnatian proce��ings are a part of�his �e�d�f Trust:
<br /> Proceedings. If any praceedin�r in condemnafiion is filed, Trust�r sha[l pramp�ly no�ify L�nder in writin�, and
<br /> Trustar sha�l promptly take such ste�s as may be necessary t❑ def�nd #he act��n and �btain the award. Trus��r
<br /> ma}� be�he nominal �ar�y in such pro���ding, but L�nder shall be entitf�d ta partic�pa�� in th� pr�ceedin� and t❑ be
<br /> represented in the proce�ding by counsel �f its awn choice, and Trus�ar �rvi[f deiiver ar cause to be deliv�r�d ta
<br /> Lend�r suGh instruments and do�umentati�n as may be r��u�sted by Lender fram tim� ta time �a permit such
<br /> parti�ipatian.
<br /> AppEicativn of Net Proceeds. If all �r any par-t af the Property Es candemned by emin�nt damain proceedings flr by
<br /> any proceeding Qr purGhase in fieu of condemnatian, L�nder may at Ets slectivn require that al� or any ptirtian a��he
<br /> net pr�ceeds of the award b� applied tc� the lndeb�edness ar the repair �r restvra�ian of the Property. The net
<br /> pro���d� ❑�the award sha[[ msan the award a#fier paym�nt of all reasonab�e costs, expens�s, and a�rtarneys' fees
<br /> incurred by Trust�e ar L�nd�r in connection with the c�nd�mnation.
<br /> [ItiT1P�SITI�N UF TA�ES, FEES AND CHAR�E� BY GOVERN[IIIENTAL AUTHOR[TlES. The fflllawing proWisions refa�ing
<br /> to�nvernmental tax�s,�ees and�harges are a part a�this D�ed�f Trust:
<br /> �urrent Taxes. FeeS and Charges. U�on request by Lender, Trustor shall exe�ute such do�urn�nts in additi�n tv
<br /> this aeed of Trust and take what�v�r other aGtian is r�qu�sted by Lend�r to perfect and �antinue Lender's lien an
<br /> the Rea[ Property. Trustar shafl reimburse Lend�r far all taxes, as d�scribed b�law, tvgether with aI! expsns�s
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