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2� 1 ��255�
<br /> C�EED �]F T�L�ST
<br /> ���ntlnl��C�} Pag� �
<br /> area, Trus�or agrees ta Q�tain and maintain Federal Flovd fnsurance, if a�ailakale, �Qr the maximum amount of
<br /> Trustor's credit line and the�ull un�aaid principal I�alanGe af any prior liens an the proper#y s�curing�he lvan, up ta
<br /> the maximum policy limit�set under�he Nativna� Fload lnsurance �rvgram, or as otherwise requ�red by Lender, and
<br /> t� main�ain such insur�n�e��r the�erm ❑f th� l�an.
<br /> Application of Prviceeds. Trustor shall pramptly no�ify Lender of any loss or damage to the Property if the
<br /> estima�ed �c�st of repair or replacemen� ex�eeds $�,D�0,4Q. Lender may make proof o€ lass if Trusto� fails ta dQ
<br /> so wi�hin fiifteen {�5� days t��the casualty. 1lVhether or not Lender's security �s impaired, Lender may, at Lender's
<br /> ele��ion, re�ei�e and r�tain the pro�eeds af any insuranee and apply �he p�ra�eeds t❑ the �eduction vf the
<br /> �nde�tedness, payment vfi any �ien af�eGting the Prc�perty, or the res#oratic�n and repair v�th� F'roperty. �f Lender
<br /> eleets �a ap�ty the pra���ds ta restorat�on �nd repair, Trus�or shall r�pair �r r�pla�e the damaged or destroyed
<br /> Impra�ements in a mann�r sa�isfa�t�ry ta Lender. Lender shall, upon satisfactory praa�vf such expenditure, pay
<br /> ar r�imk�u�se Trus�or �rvm the praceeds far the reasonabl� cost of repair or reStvration i# Tru�tvr is nat in defaul�t
<br /> und�r this []eed of Trus�. Any praceeds which ha�e not been disbursed within �8Q days after �heir receipt and
<br /> rrvhi�h Lender has not committed tQ the repair or restoratian of�he Property shall be used first to pay any amount
<br /> vwing �� Lender under�his ❑eed ❑f Trus�, then to pay ac�ru�d interest, and the remainder, i�any, sha�l be applied
<br /> to the principal balance vf the lndel�tedness. If Lender hvlds any proceeds after paymen� in fuil �f the
<br /> �ndeb�edness, such pro���ds shall be paid ta Trustar as Trustor's interests may appear.
<br /> CvmplianG� wi�h Exis�ing Indehtedness. L�uring the peri�d in which any Exis�ing lndebtedness described below is
<br /> �n effe�t, c�mplianee with the �nsuran�e p�o�isivns contained in the inst�ument e�iden�ing such Exist�ng
<br /> Indebtedness shall G�nstitute camplEance with the insurance prv�isi�ns under this Deed of Trust, tv �he ext�nt
<br /> compli�nce wi�h �th� terms of �his Deed ❑f Trust wouid constitute a dupli�a�ian ❑f insurar��e requEr�men�. It any
<br /> proceeds from the insurance become payable an I�ss, the pro�isions in this ❑eed �a�Trus��ar di�isi�n of proceeds
<br /> sha!! apply only ta that por�ion af the praceeds not payable tQ the ha�der of the Existing I ndeb��dness.
<br /> LENaER'S EXP�NDlTURES. If Trustar fails �A� t❑ keep the Property free a� ali taxes, liens, s�curi#y interes�s,
<br /> encumbrances, �nd ather claims, �B} �o pro�ide any required insu�anc� on the Property, �C� to make repairs ta th�
<br /> Pr�perty ar to cvmply wi�h any ohligation to maintain ExistEng Indebtedness in gor�d standing as required below, th�n
<br /> Lender may do so. If any ac�ion or prviceeding is commenced th�� would materially affect L�nder's interests in �he
<br /> Proper#y, then Lender ❑n Trus�or's t�ehaif may, but is nat required to, take any a�ti�n tha� Lender believes ta be
<br /> appropria�e ta protect Lender'� in#erests. All expenses Eneurred ar �aid by Lend�r for such purpases will �hen k�ear
<br /> interest at �he rate charg�d under the Credi� Agreemen� from the date in�urred or paid by Lender �to the date vf
<br /> r��aa�men� by Tru�tor. All such expenses will be�vme a part of the Indebtedness and, a� Lend�r's opti�n, wi!! �Ay be
<br /> payable Qn demand; 4B} be added to the balance af th� Credi�C Agreement and b� appQrti�ned among and he payabl�
<br /> v►►ith any installment paym�nts�o beGome due during eith�r �1� th���rm of any applicab�e insurance policy; or t2} #he
<br /> remaining term of the Credit Agreement; or �Cy �e �reated as a balloon payment which wiii be due and payabl� at the
<br /> Credit Agr��ment's maturi�ry. The Deed of Tru��also will secure �ayment of thes� �mounts. The righ�� pra�id�d far�n
<br /> this paragraph shall be in addi�ton ta any other rights or any remedies to which L�nder may be entit�ed an ac�ount ❑f
<br /> any defaul�. Any such activn by Lender shal! nat k�e construed as curing the default so as tv bar Lend�r from any
<br /> r�medy tha�t i�❑therwise would ha�� had.
<br /> WARRANTY; QEFENSE E�F TiTLE. The follvwing proWisians �ela�ing�o ownershi�of the Propsrty are a part af this D�ed
<br /> of Trus�:
<br /> Ti#le. Trus#ar warrants that: �a� Trustor hvlds govd and marketab�e title �f record to the Property in �ee simp�e,
<br /> free and c�ear of all liens and encumbrances ❑ther than those se� torth in the Real Property descrtp#ion vr in the
<br /> Exis�ing Indeb�edness ��ction t�elow or in any title insu�an�e pvli�y, �itle re�ort, or finaE title opinion issued in fa�vr
<br /> of, and accepted �y, Lender in conne�tion w�th this Deed �f Trust, and �b} Trustor has the full right, power, and
<br /> authvrity to execute and deli�er th�s Deed of Trust to Lender.
<br /> Defense of Title. Subject �o �he exceptian in �he paragraph �#�o�e, Trustor warrants and wi11 fare�er d�fend the
<br /> title tQ the Property agains� �he iawfui �laims c�� all persons. �n the e�ent any a��ian vr prviceeding is comm�nced
<br /> th�x ques�ions�Trus�or'� #itle or the int�re�t vf Trustee❑r Lender under this Deed of Trust, Trustvr sha�l defend �h�
<br /> action ��C Trustor's expens�. Trustar may be the nominal par�Cy in su�h praceed�ng, bu� Lender shall be entitfed t�
<br /> par�icipa�e in the proceeding and to be represented in the proceeding by counsel vf Lender's own cho+ce, and
<br /> Trus��r w��i deliWer, c�r cause t� be delEuered, �o Lender such instrur�en�s as L.ender may request�rom tim� ta�im�
<br /> t❑ permi�such participatit�n.
<br /> Camplianc� Vllith Laws. Trustor v+�ar�-ants �hat the Praperty and Trustor's use a� the Prap�rty eom��ies with a!!
<br /> e�is�ing appli�ab�e laws, ordinances, and r�gulatians ❑f go�ernm�ntal au�horities.
<br /> Sur�iva� of Pramises. Ali pramises, agreements, and stat�m�nts Trustor has made in �his �eed of Trus� shall
<br /> survi�� the exe�utian and deli�ery of this Q�ed of Trust, �ha11 be cvn#inuing in nature and shal! rema�n in full forc�
<br /> and e##ec�un#il such time as Trustor's lnde��edness is paid in�ull.
<br /> E�CiST�NG INDEBTEDNESS. The fo�lvwing provisions conc�rning Exi�ting Indebtedness are a part a�this Deed o�Trust:
<br /> Existing Lien. The ii�n o� this Deed o� Trust securing the Ind�btedness may be se�ondary and in�erior to an
<br /> exi�ting lien. Trustar expressly �a�enants and agre�s to pay, ❑r see to �he payment of, th� Existing indebtedt�ess
<br /> and�o pre�ent any def�ult on such indeb�edness, any de��u�t under the ins�ruments e�idencing suGh indebtedness,
<br /> vr an�de�aul�under any security documents�or such indebtedn�ss.
<br /> Na Modifi�ation. Trustor shalf nvt en�er into any agreement wi�h �he hald�r of any mor�gage, deed of �rust, or
<br /> other se�urit� agreemen� wh��h has priori�y v�er this ❑e�d o�r Trust by which that agreerr�enx is modifi�d,
<br /> amended, �a�tended, or renewed wi�hvut the prior ►rvritten consent o# Lender. Trus�or shal[ neither request nor
<br /> accept any�utu�e advances under any su�h secu�i�y agreemen�withvut the�rivr written�onsent vf Lender.
<br /> G�NDEMNATI�]N. The��llawing pra�isions r�lating ta c�ndemnatian proceedings are a part af this ❑eed af T�us�:
<br /> �'raceedings. If any proceeding in condemnation is fii�d, Trustor sha�l pramptly no�tify Lender in wri�ing, an�l
<br /> Trust�r �hall promptly take such steps as may he nec�ssary �Cv de�end th� ac�ian and ob�tain the awa�d. Trustor
<br /> may he the nvminaf party in such proceeding, �ut Lender shall be entitled�o partiGipate in the proceeding and to b�
<br /> ��present�d in the praGeeding by caunsel af i#s �wn �hviGe, and T�ustar will deli�er v� cause tc� be deli��red �o
<br /> �ende� su�h instruments �nd documentation as may be requested by Lender from time �a time to perm�t such
<br /> part�c�pation.
<br /> ApplicatiQn of Ne# Prac�eds. I� ail or any p�rt vf the Praper�y is condemned by eminent domain pr�aceedings or by
<br /> any proceeding or purchase in�ieu of condemna�ion, Lender may at i�s election require that alf or any pvrtivn of the
<br /> net proceeds a� �he award be applied t� the Indebtedn�ss ar the repair or restvra�ian af �he Property. Th� net
<br /> proceeds of the aw�rd sh�l� mean the award af�er paymen� o�all reasonable cas�s, �xpens�s, and a�torneys' fees
<br /> �n�urred by Trustee or Lender in connection with�he cvndemnatian.
<br /> IMP�5ITIQN �F TA�ES. F�E� AN❑ CHARGE� BY GQVERNMENTAL AI�THQRITIES. The #ollowin� pro�isions rela�ing
<br /> ta go�ernmental�axes, fees and charges are a par�of this Deed of Trust:
<br /> Gurren� Taxes, Fees and Charges. �lpon request by Len�er, Trustar shall execut� su�h documents in addition �❑
<br /> this Deed af Trust and take whate�e�vth�r�ctivn �s requested by L�nder�o p�rfiect and cflntinue L�nder's lien on
<br /> the Real Property. T�ustar shall reim�urse Lender for a�� taxes, as described bel�w, �oge�her with all expens�s
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