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2� 1 �� 1841
<br /> QEEv �F -rRusT
<br /> ���nt�nued� Page 3
<br /> the maximum policy limits set under the Nationa� Flvod lnsurance P�ogram, or as otherwise required by Lender, and
<br /> to mainta�n such insurance for�he term v�the Ioan.
<br /> App[ication o� Proceeds. Trustor shall promptly no�i�y Lender o� any I�ss or damage to the Property if #he
<br /> estimated �os�of repair or replacement exceeds $1,���.Q�. L�nder may make praofi vf loss if Trustvr fails to do
<br /> so within �i�te�n �1�y days a�the casualty. Vllh�ther or no� Lender's s�curity is impaired, Lender may, at Lender's
<br /> electivn, recei�e and retain �he prviceeds of any insurance and apply the prv�eeds to �he redu�ti�n of fihe
<br /> Indeb#edness, payment of any lien affecting the Property, or the restvration and repair af th� Property. If Lender
<br /> �lec�s tv apply the proceeds �o restora�ion and repair, Trustor shall �-epair or replace the damaged or destroyed
<br /> Impro�ements in a manner sat�s�a�tory to Lender. Lender shall, upan satistactory proof of such �xpenditure, pay
<br /> ar reimburse T�ustvr from the proceeds far the reas�nable �ost o� repair ❑r restoration if Trustor is not in de�ault
<br /> under this ❑eed o�r Trus�. Any pr�c�eds which ha�e not be�n disbursed w�thin �8a days after their rece�pt and
<br /> which Lender has not cvmmitt�d to the repair❑r resto�at�on of the Property shail be used �irst to pay any am�unt
<br /> awing �o Lender und�r this Deed of Trust, then�o pay a�crued interes�, and �the remainder, if any, shall be applied
<br /> tv the principal bafance of the lndebtedness. If Lender hofds any proceeds after payment in full of the
<br /> �ndebt�dness, such proceeds shalf be paid ta Trustor as Trustor's interes�s may appear.
<br /> Compliance w�th Existing �ndebtedness. During �he p�riod in whi�h any Existing lndebtedness d�scribed below is
<br /> in e#fe��, compl�ance with the insurance pro�isivns cvntained in the �nstrument e�iden�ing such Existing
<br /> Ind�btsdness sha!! constitu�e compliance with the insurance pr��isians under this Deed of Trust, ta the �xtent
<br /> c�mpl�ance wi�h the terms o� �his Deed o� Trust would �onst�tute a duplica�ion af insurance requir�ment. !f any
<br /> pr�ce�ds fram the insurance become paya�le on ID55r the pro�is�ons in this Deed of Trust for di�ision of proceeds
<br /> shail apply only to that port�on vf�he prviceeds not payable to the holder❑f the Existing Indebtedness.
<br /> LENC]ER'S EXPENDITURES. 1� Trustor �ai[s �A� to keep the Praperty free of all taxes, liens, se�urity interests,
<br /> encum�ranc�s, and vther ciaims, �B� to pro�ide any rsquired �nsurance ❑n the Property, ��} to make r�pairs tv the
<br /> Praperty ar ta c�mply w�th any obliga�ivn ta maintain Existing lndebtedness in gaod standing as required beiow, �hen
<br /> Lender may do sv. l� any action or proceeding is commenced that would materially af��ct Lender's interests in the
<br /> Property, then Lender on Trustor`s behalf may, but is no� r�quired to, take any action that Lender beiie�es �o be
<br /> apprapriate to protect Lend�r's interests. A!I expenses �ncurred or paid by Lender �or such purposes wili then bear
<br /> interest at the ra�e �harged under the Credit Agreement from the date incurred or paid f�y Lender to the da�e of
<br /> repayment by Trustor. All such expenses wifl become a par�of the fnd��tedness and, at Lender's �p�ivn, wi11 �A� be
<br /> payable on demand; �B� be added �o the balance of the �redi� Agreement and be apportianed amvng and be payable
<br /> with any installmen�paym�nts to become du�during either ��y the t�rm a�any applicable insurance policy; ❑r �2� the
<br /> rema�ning term of the Credit Agreement; or �C� be treated as a baf�oon payment which wifl b� due and payable at the
<br /> Credit Agreement`s maturity. The Deed of Trust a�so will se�ure payment af these amaunts. Ths rights prv�ided �or in
<br /> this paragraph shall be in additian ta any vther rights or any remedies t❑ which Lender may be en�titled on account o�
<br /> any de�ault. Any such activn by Lender shal! nv� be construed as curing the de�auEt so as to bar L�nder �rvm any
<br /> rem�dy tha�i�o�herwise wvuld ha�e had.
<br /> VIIARRANTY: DEFENSE DF TITLE. The�oilowing �ro�isions relating tv❑wnership of the Property are a part of th�s Deed
<br /> o�Trust:
<br /> Title. Trust�r warrants that: 4a� Trustor holds gaad and marketable tit�e o� record tv the Proper�y in fee simple,
<br /> �ree and cfear of all liens and encumbrances other than thvse set forth �n the Real Property description or in �he
<br /> Existing lndebt�dness section below or�n any tit[e insu�ance policy, tit�e repo�t, ❑r�inal title apinion issued in fa�or
<br /> of, and accepted by, Lender in connec�ion with this D�ed af Trust, and ��a� Trustor has the �u�� right, power, and
<br /> authority to execu�e and deli�er th�s Deed of Trust to Lender.
<br /> Defense of Ti�le. 5ubjec# to the excep�ion in the paragraph aba�e, Trustv� warran�s and wi!! fvre�er defend the
<br /> title �o the Praperty against the law�ful claims o�all pe�sons. In the e�ent any ac�ion or prviceeding �s commenced
<br /> that questivns Trustor's�ifile �r the in�er�st of Trustee or Lender under this Deed of Trust, Trustor sha[E de�end the
<br /> action at Trus�or's exp�nse. Trus�or may be the nominal party in such pro�eeding, but Lender shall be entitled to
<br /> participate �n the praceeding and to be represen�ed in the proceeding by �ounsel af L�nder`s �wn cho�ce, and
<br /> Trustvr will deli�er, ar cause to be deli�ered, tv Lender such instruments as Lender may reques�fram time t❑time
<br /> �� permi�such partic�pation.
<br /> Compliance With Laws. Trustor warrants that the Property and Trustor's use o� the Pr�perty complies with all
<br /> existing applicai�le laws, ❑rdinances, and regula�ions of go�ernmental au�horities.
<br /> Sur�i�ai o� Promises. All promises, agreem�nts, and statem�nts Trustor has made in this Deed of T�ust shall
<br /> sur�i�e#he exe�ution and deli�ery o�this Deed ❑f Trust, shall be cvntinuing in nature and shall r�main in full force
<br /> and effect unti! such�ime as Trust�r's Indebtedness �s paid �n fu11.
<br /> EX�STING INDEBTE�]NESS. The fvl�owing pro�isivns concerning Existing Indebtedness are a part af this Deed of Trust:
<br /> Exis#ing Lien. The lien o� �his D�ed ofi Trust securing the Indebtedness may be secondary and inferior �o an
<br /> existing lien. Trustor express�y co�enan�s and agre�s to pay, �r see t� �he payment af, the Existing Indehtedness
<br /> and to pre�ent any default vn such indebtedness, any default under the ins�rumen�s e�iden��ng such indebtedness,
<br /> ❑r any de�ault under any secur�ty documents for such indebtedness.
<br /> No Modification. Trustor shall not en�er inta any agreemen� with the holder vf any mortgage, deed of trust, or
<br /> o�her security agreement which has priority o�er this Deed of Trust by which �hat agre�men� is mod���ed,
<br /> amend�d, exfiended, or r�newed withou� the pri�r written consent of Lender. Trustor sha�l neither r�quest nor
<br /> accept any future ad�an�es under any su�h security agreemen�without the prior writ�en consent o#Lender.
<br /> CDNDEIIIINATl�N. The following pro�isions relating tv cvndemnativn proceedings are a par�of this Deed of Trust:
<br /> Prviceedings. lf any proceed�ng in condemnation is �riled, Trus�vr shafl pramptly nvtify Lender in wr�ting, and
<br /> Trustar shal! pramp�ly take su�h steps as may be n�c�ssary tv defend the ac�tivn and obtain the award. Trus�or
<br /> may be the naminal party in such proceeding, hut Lender shall be�ntitl�d to participa�e in the proceeding and tv be
<br /> represented in the proceeding f�y cvunsel of i�s own chaice, and Trustor wil� deli�er ❑r cause ta be deli�ered �o
<br /> Lender such instrumen�s and documen�a�ivn as may be requested by Lender f�am �ime to tim� to permit such
<br /> participation.
<br /> App�icati�n of Net Praceeds. If a!I or any part of the Property is �ondemn�d by eminent domafn proceedings or by
<br /> any proceeding or purchase in [ieu of�vndemnation, Lender may a�i�s elect�on �equire�hat all or any portion of the
<br /> ne� proc��ds of the award be applied t❑ the Indebtedness or the repair or restoration ❑f �he Prap�rty. The net
<br /> proceeds o�the award shall mean th� award af#�r payment o�all reasonab�e costs, expenses, and attorneys' fees
<br /> incurred by Trustee or Lender in connection with the candemnat�vn.
<br /> IMP�SITI�N ❑F TAXES, FEES AND CHARGES BY G�VERNMENTAL AUTH�RITIES. The foll�wing pro�isions rela�ing
<br /> to go�ernmenta[taxes, #ees and charges are a par�of�his Deed of Trust:
<br /> Current Taxes. Fees and Charges, upon reques� by Lende�, Trusto� shall execute such documents in addi�ion to
<br /> this Deed of Trust and take whate�er o�h�r ac�ion is requested by Lender to perfect and cnntinue Lender's lien on
<br /> the Real Praperty. Trus�ar shall reimf�urse Lender for all tax�s, as descrihed below, together with a!i expenses
<br /> incurred in rec�rding, perfecting or cont�nuing this Deed of Trust, including with�ut limita�ion al� �axes, �ees,
<br /> dacumen�ary s�amps, and ather�harges�ar�ecording vr registering this Deed of Trust.
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