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2� 1 �� 13�9
<br /> DEED �F TRUST
<br /> �Continued� P��e 3
<br /> to ma�ntain sueh insuran�e#vr the term vt the loan.
<br /> ApplRc�tion �f Pra�ceeds. Trustor shall promptly nvtify Lender vf any Ioss or damage t❑ the Property if the
<br /> estimated cost of repair or r�pl�cement e�ceeds $1,OaD,4�. Lender may make pra�f of lass if Trustor fails to do
<br /> sv within fifteen �15y days af th� casualty. Whether ar nvt L�nder's security is impaired. Lender may, at Len�er's
<br /> election, re�ei�e and retain �he proceeds of any insuranc� and apply th� proceeds tn the r�duction �f the
<br /> Indebtedness, payment of any lien affecting the Praperty, or the rsstoratian and repair vf the Praperty. If Lender
<br /> elec�s t❑ apply the pro�eeds t❑ rest�ration end repair, T�ustor sh�l1 rep�ir or r�pl�ce th� d�maged ar destrayed
<br /> Imp�a�emen�s in a manner satisfactvey to Lend�r. L�nder sh�ll, upon satisfa�tvey p�aaf of such expenditure, pay
<br /> ar reimburse TrustQr �ram the praceeds for the r��sonabfe c�st of repa�r ❑r restaration if Trustar is nat in �e#ault
<br /> under this C��ed ❑fi Trus�. Any praceeds which ha�e not b��n disbursed within 1�D days aft�r their rece�p� and
<br /> which Lender has nat cvmmitted �v the rspair or rest�ration of the Prop��rty �hall be us�d f�rst to pay any amvunt
<br /> awing ta Lender under�his ❑eed a�f Trust, �hen�o pay aGcru�d inte�est, and the remainder, if any, shal� b� applied
<br /> to the principa# balance of the Indebtedness. If Lender h�lds any proceeds a�ter payment in full af the
<br /> Indel�t�dn�ss, su�h proceeds shall be paid ta Trus#or as Tru�t�r's int�reslc�may app�ar.
<br /> Complian�e with Existing Indebtedness. During th� period in which any Existing I ndebtednes� described �elow is
<br /> in effe�t, camplian�� with the insuranc� p�o�isions contained in the instrument e►►id�neing such Ea�isting
<br /> Indebtednes� shall constitute cvmpliance with #he insurance pro�isions under this Deed of Trust, tv the e�tent
<br /> c�mpiianGe with th� terms of thi� Deed �f Trust would canstitute a duplication of insuran�e requErement. If any
<br /> proceeds fram the insuran�e bec�m� p�ayabl� on loss, th� pro�isions in this ❑eed af Trust fvr di�ision of prviceeds
<br /> shal�apply�n�y to�hat partia�n of�he proceed� n�t paya�l�to the hold�r of the Existing Indebtedness.
<br /> LENDER`S E�PENDITURES. If Trustvr faiis �Ay to keep the Property fre� vf all �axes. li�ns� Security interests,
<br /> en�umbrance�, and ather claims, ��} ta p�o�ide any required insurance vn the Prvperry, �Cy to ma�e repairs t�a the
<br /> Property or ta camply with any ❑bligat�on to maintain Ex�sting Indebtedness in good standing as �equired belaw. then
<br /> Lender may do so, if any aGtion or praeeeding is commenced that wou�d mater�ally a#fect Lender's interasts in the
<br /> Property, then Lender vn Trustor's behalf may� but �s nat requ��ed tv. take any a�tion that Lend�r helie�es to ��
<br /> appr�pr�ate tQ protect Lender's interests. �11 expens�s �ncurred �r paid by Lender #ar such purpcas�s wi�i then bear
<br /> interest at the rate char�ed under the Credit Agreem�nt from the date in�urr�:� or paid by Lender to the date ❑f
<br /> repayment by Trustar. A�� such expenses wi�i becom� a part�f the Indebtedness and, at Lender's ❑ption. wifl �A� be
<br /> payable on demand; �B� b� added to the balan�e of the Credit Agreement and be a�portioned among and be payable
<br /> with any installment payments ta b�came due during either ��} the term t�f any app�ic�ble insurance po�icy; or �2y the
<br /> remaining term of the Credit Agreem�nt; vr tC� b�tr�ated as a balloan payment whi�h will he due a�nd payable at the
<br /> Credit Agreement's ma�uri�y. The Deed of Trust alsv►►vill secure paymeni of thQs�amounts. The rights pra�ided for in
<br /> this parag�aph shail he in additivn ta any other righ#s vr any rem�di�s tv which Lender may be entitl�d vn ac��unt af
<br /> any default. Any such aGtivn by Lender shali not be construed as curing the de#ault so as tv bar Lender from any
<br /> remedy tha�it otherwise wauld ha�e ha�.
<br /> WARRANTY: DEFEN�E�F T�TLE. The f�rllvwing pr��isio�s relating to ownership o�#he Property�re a part n#this D��d
<br /> af Trust:
<br /> Tit1e. Trustar warr�nts that: �af Trustor halds govd and marketahle title t�f rgcord tv the Property in fee simple,
<br /> fre� and Glear of all liens and encumbranc�s other th�n thos� set forth in the Real F�roperty descr�ptian ar in the
<br /> E�isting Ind�btedness s�ectian belvw vr�n any title insuranc� pvlicy, titls re�cart, or final titl�opini�n issued in f�vor
<br /> of, �nd acc�pted by, Lender in connectivn wi#h this Deed af Trust� an� tb) Trustor has the full right, pouver, �nd
<br /> �uthartty tt�exe�ute and del��er this C��ed of Trust tv Lender.
<br /> Dafense vf Title. 5ubjec�C ta the exception in th� paragraph abo�e. Trustor warrants �nd will fore�er d�fend the
<br /> title t❑ the Property aga�nst the �aw�ul claims af al! persans. In the e�ent�ny action ar proceeding is cvmmenc�d
<br /> that questit�ns Trust�r'�tit�e or th� inte�est�f Trustee ar l.ender under this D�ed❑f 1"rust, Trustar s�hall defend the
<br /> a�tion at Trustvr's exp�nse. Trusto� may �� the n�m�nal party in such praceeding, bu� Lender shall be entitled ta
<br /> parti�ipate in the proceeding and ��s be repres�nted in th� proceeding by counsel of Lender's awn choice, and
<br /> Trustor wil!deli�er, or cause to b�deli�ered, to l.end�r such instruments as Lender mey requ�st fram tim� t❑��me
<br /> to pe�mit such partiCipation.
<br /> Comp�fiance� INith Laws. Trustvr w►a�rant� tha� the Proper�y and T�us�or's use o� �he Property Gc�mplies with all
<br /> e�isting applicable laws, ordinanG��. and regulativns of gv�ernmental au�Chofities.
<br /> Sur�i�a� of Rr�mises. All promis�s, agreem�nts. and staCements Tru��or has made �n this C3eed of Trust shall
<br /> sur�i�e the executson and deli�ery of this De�t� af Trust, �hall !ae continuing in natu�re and shall r�ma�n in full farce
<br /> and ef�e�t un�il suGh time as Trustor's�ndebfiedness is p�id in#ull.
<br /> E�CISTING 1NDE�TEDNESS. The#allowing pro�isions concernin� Exisiing�ndebtedness are a part of this Deed of Trust:
<br /> Ex�st�ng Lien. The lien of this ❑eed of Trust securing the Indebt�dness may hs s�cvndary and in#eriar to an
<br /> �xisting �ien. Trustvr expressly co�enants and agrees to pay, or see to the payment vf, the Existing Indebtedness
<br /> and to pre�ent any default v�n such �ndebtedness, any default under the instruments e�idencing such ind�btednessf
<br /> or any default under any security docum�nts fo�su�h�ndebtedness,
<br /> Mo Nfad'�f'i��tivn. Trustor shall not enter inta any agreem�nt with the hol�er ofi any mvrtgage, deed vf trus�. or
<br /> ❑ther security agreement which has pr�o�ity o�er th�s ❑eed ofi Trust by which that agreement is modif�ed,
<br /> amend�d, extended, or renewed without the p�iar written consen� of Lender. Trus#or shall neither request n�r
<br /> a�cept any future ad�an��s undar any such security agreement without the prior written cons�nt of Lender,
<br /> CQNDEMNAT��N. Th�foltowing prvr►isions re�at�ng ta con�emnation proceedings are a part of this L��ed vf Tru�t:
<br /> Prviceedings. If any praceeding in �andemnatian is fil�d� Trustor shall promp�ly natify Lender in writing. and
<br /> Trustor shall promptly take such steps as m�y he necessary to def�nd the activn and �btain the award. Trustvr
<br /> may be the nomin�l party in such p�r�ceeding, but Lender shall be entitfed to parti�ipate in the proceeding and tv�e
<br /> repre$ented in the proceeding ay �aunsel of its vwn chQi��, and Tru�tar wilf deli�er or Gause tv be deli�ered ta
<br /> Lender such instruments �nd dacum�ntation as may b� requested hy Lender from time tv time ta permit such
<br /> par�icipativn.
<br /> Applicativn vf Nst PrQceeds. I#�II or any part of#he Prvperty i� candemnEd by eminent dvmain prQce�dings a�r by
<br /> any proc�eding or p�urGhase in tieu�f condemnation, Lender may at its el�ctiQn require that all❑r any pvr�ivn of the
<br /> net proceeds af the award be appli�d to the lndshtedness o� the rep�air or restora�ian af the Property. The net
<br /> pra�eeds of the award shall mean the award aft�r p�yment af all reasanable �osts, �xpenses, and a#tarnsys' #e�s
<br /> incurred�y Trustee or Lendsr tn c�nn��tion►rvith�h�con�emnatian.
<br /> IM�DSITiON C.�� TAXES, FE�S ANQ �HARGES BY �QVERNIVI�NTAL AUTH�3�ITiES. Th� fvll�wing p�ro�isions r�latin�
<br /> xa gQ�ernment�!taxes, fe�s and charg�s a�e e part of�Chis ❑s�d af Trust:
<br /> Current T�xes. Fegs and �harges, l�pon r�qu�at by L+�nder, Trust�r shell exe�ute such do�um�nts in addition t❑
<br /> this De�d v�Trust and take wha�e��r ather a�tia�n is reque���d by L�nd�r to perfect and cantinue l�ender's lien an
<br /> the R�al Prope�ty. Trustor shal! r�imhurs� Lp�t�er vr ell ��xes, as d��Cribed below, togeth�r with all �xpenses
<br /> incurred in record�ng, perfecting vr con�inuin� thi� Deed Qf Trust, inGluding witht�ut limitativn all taxes, f�es,
<br /> dvcumen#ary stamps, and vther Gh�rges fn�re�ord�r�o�registering this I�eed of Trust.
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