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2� 1 ��2734
<br /> a��v oF T�usT
<br /> ���]rt���luedj Pa�e 3
<br /> �overage endorsements �n a repla�ernent basis �or the fuii insurable ��lue cavering all Imprfl�ements on the Re�l
<br /> Prvp�rty in an amount suf�ici�nt �o ��Qid application ❑f any coinsurance c�ause, and vvi�h a standard martgagee
<br /> �laus� in fa�or��Lender, tog�ther with su�h oxher ha�ard and liabi�ity insurance as Lender may reasonably r�quire.
<br /> Poli�ies shall he written in form, amoun�s, co�erages and basis reasanabiy a�ceptable ta Len�er and �ssued by a
<br /> �ompany vr companies �easanably accepta�le to Lender. T�ustvr� upon r�ques� of Lende�, will deliver ta Lender
<br /> �ram �ime to �ime the palicies or certificates ❑f insurance in �arm sa�isfa�tory to Lender, including stipu�a�ions�hat
<br /> co�erages will no� be cancelied ar diminished r�vithvu� at least th�rty 43�} d�ys priar wri��en notice ta Lende�. Ea�h
<br /> insuranee pvfi�y also shall include an endorsem�n� pra�iding that �o��rage in �avor of Lender will nat be impaired
<br /> in any vuay by any aG�, ❑mission or default o�Trustor or any ��h�r p�rson. Should the Real Pra��rty be lo�ated in
<br /> an are� desEgnated by the AdmEnis�ra�or ❑f the �ed�ral Emergency Manag�ment AgenGy as a special flood ha�ard
<br /> area. Trustor agrees ta obtain and main�ain Federal Fload Insurance, if a�ailable, for the max�mum amount of
<br /> Bvrr�wer�5 CfE'CII� IIFI� and the fufl unpaid principa� ba�ance of any privr I�ens an the prop�rty securFng �he laan, up
<br /> to the max�mum palicy limits set under the National Flovol �nsu�ance Program, ar as o#h�rwise required by Lende�,
<br /> and�o maintain such insurance�or the�erm o�the loan.
<br /> Application vf Pro�eeds. Trustor shall pramptly nv�ify Lender of any lass ar damage #o th� Property i� the
<br /> estima��d cost of rep�ir❑r repfacement�xceeds �1,�Q�.QU. Lender may make proo� of las5 if Trus�vr ��i�s to da
<br /> s� wi�hin #ifteen �15} days af the casualty. 11Uhether or no� Lender's security is impa�red, L�nder ma�, a� L�nder's
<br /> e�ection, re�ei�e and retain th� proceeds ofi any insurance and apR�y the praceeds to the �eduction vf �he
<br /> �ndebtedness, payment o# any Eien afife�ting the Property, ar the restaration and repair o� �he Property. If Lender
<br /> elect� to apply the �ro�eeds t� rest�ratian and repair, Trustar shalf repair o� replace �he damaged or destroyed
<br /> Impro��ments in a manner satis�actvey to Lender, Lender shall, upvn satisfactory proaf vf such expenditure, pay
<br /> vr reimburse Trus�or �rvm the pra�eeds for �he reasonable cQst o# repair or restvrat+on if Trustar is nvt in default
<br /> under �his D��d o# Trust. Any prviceeds whi�h haWe not been d�shursed wi�hin �SQ days af�er their rec�ipt and
<br /> whi�h Lender has nvt cammitted �v the repair or restoration v�th� Property shail be u�ed '�irst to pay any amount
<br /> awing�o Lender unde�this Deed ��Trust, then �❑ pay a��rued interest, and the remainde�, if any, shall be appli�d
<br /> �o the principal ba�ance of the indebtedness. I� Lend�r holds any proceeds after paymen� in full vf �he
<br /> Indebtedness, such proceeds shall be paid to Trus�or as Trus�or's interests rflay appear�
<br /> Cvmp��ance wi#h Existing in�lebtedness. During �he period in whi�h any ExFsting Indebt�dnes� described helow is
<br /> in effect, cvmpl�anGe w��h the insuranee pro�isivns �antained in the instrum�nt e�iden�ing such Existin�
<br /> �ndeb�edness sha�l Ganstitute compliance uvith �h� insurance pro�isions� under this Deed a� Trust, ta the e�tent
<br /> camp�iance with the terms o� �this Deed vf Trust wvuid �ons�itute a duplication ❑f insurance requErement. l� any
<br /> proceeds frvm the insuran�e �ecorne payabl� an loss, the pr��isions in �his Deed of Trust for di�isian Qf proceeds
<br /> shall apply only ta that portion of the pro�eeds na�payahle to th� holder a�th� �xis�ting Ind�k��edn�ss.
<br /> LENDER'S EXPENDITt���S. !f Trus�or fiails {A� tQ keep th� Praperty free af all taxes, I�ens, security �n�eres�s,
<br /> encumbran�es, and �ather Gla�ms, �S� to pro�ide any required insu�an�e �n the Property� �Cj to make r�pairs to �he
<br /> P�-aperty �r to G�mply with �ny ohligativn �o maintain Existing Indebtedn�ss in gaod standing as required belvw, �hen
<br /> Lender m�y do so. lfi any a�tion ar praceeding i� cammenced fihat would materialiy afi�ec�t Lender's in�erests in the
<br /> Property, then Lender an Trustor's behalf may, but is not required tfl, take any activn �hat Lender belie�es tv be
<br /> app�-vpriate t❑ protect Lender's in�erests. AI[ expenses incurred ❑r paid I�y Lender fo� such purposes will then bear
<br /> int�res� at �he rate charg�d under the Credit Agr��men� from #he date in�urred ❑r pa�d by Lender to �he date vf
<br /> repaymen�t�y Trustor. All such e�penses will hecome a part of t�e lnd�htedness and, at L�nder's option, will �A3 be
<br /> paya�le on demand; �B} !�e added to the balance o� the Credit Agreement and be apportioned among and be payab��
<br /> uvith any ins�allment payments�a be�ame due during either �1} the��rm of any applicable insurance poli�y; ar ��f the
<br /> remaining t�rm of the C�ed��Agreemen�; or �C} !a� �Crea�ed as a b�lloon paym�n�C whi�h will be due and p�y��le at th�
<br /> Credit Agre�men�'s maturity. The D�ed of Trust �Iso ►rvilf s�cure payment o��hese amvunts. The rights prca�ided for in
<br /> this paragraph shall �ae �n additivn to any other rights ar �ny remedies ta which Lender may be en�i�ied on a�count af
<br /> any de�ault. Any such ac�ivn by Lend�r sha�f nv� b� constru�d as curing th� default sQ as �a bar L�nder fram any
<br /> remedy that it❑therwis� wou�d ha�e had.
<br /> VIIARRANTY; ❑EFENSE�F TITLE. The follow�ng pra�isions relating to�wnership ofi the Prvperty are a part Q�this Deed
<br /> af Trust:
<br /> Title. Trusfiar warrants that: �a} Trus�or halds gaod and marketabie title �f record to the Property En fee simp�e,
<br /> f�ee and clear a� a�� iiens and encumhrances other than tha�se �et �orth �n �he Real Property descriptivn ❑r in the
<br /> Ea�isting Indebtedness �e�tican below ar in any title insuran�e policy, �itle repvrt, or�inaf title opinivn i�su�d fn fa�or
<br /> o�, and accepted by, Lender in Gonn�ctivn wi�h this ❑eed r��Trust, and {bf Trus�or has th� fu�� righ�, p�wer, and
<br /> authority to execute and deli�er this D��d o�Trust ta Lender.
<br /> ❑e#ense of Tit�e. 5uhject t� �he �x�eption in �he �aragraph abv�e, 7rustar warran�s and wi�f �rare�er de�end the
<br /> title�o �he Property �gainst the lawful cfaims o# all persons, In the e�en� any act+on c�r praceeding i� Ge�mm�nced
<br /> that questions Trus�or's titfe �r the int�rest o�r Trustee ar Lender unde�this Deed o�Trust, Trustor shall defend the
<br /> action at Tru$tar's expense. Trustar may be �h� nvminal party in such prvGeeding, hut Lender shall b� entitled �o
<br /> par�icip��e in the prraceeding and to k�e repr�s�nted in the proc�eding by Gounsel of �.end�r's vwn choice, and
<br /> Trus�ar will deli�er, or cause �to b� deii�ered, �o Lender such instruments as Lender may request fronn �ime to time
<br /> �o permit su�h participation.
<br /> Cvmpliance 1Nith Laws. Trustr�r warrants that the Proper�y �nd Trusto�'s us� ❑f the Property compiie� with a!I
<br /> exis�ing applicab�e I�ws, o�dinances, and regulatEons�f go�ernr�en�a� autho�ities.
<br /> 5ur�i�al vf Promis�s. A1! promises, agreem�nts, and �tatements Trustnr has made in this Deed �f Trust shall
<br /> sur�i�e the exe�ut�vn a�rd deli�ery o�this D�ed af Trust, shall be c�n�inuing in nature and �hall remain in fuli '�orce
<br /> and���e�t unt�l�u�h time as Barrower's �ndeb��dness is paid in fuii.
<br /> E�CiSTtNG INDEBTEaNE55. The�c�llowing �aro�isions cancerning Existing Inde�atedness are � pa�t vf this �]eed of Trust:
<br /> Existing Lien. The lien of this Deed ❑f Trus� �ecuring the Indebtednes� may �e secandary and ir���rior �o an
<br /> existing lien. Trus�ar exp�essly co�enants and agrees ta pay, ❑r see to �h� paymen�of, the Existing Indebtedness
<br /> and �a pr��ent any default vn such �ndehtedness, any default under th� instruments e�id�n�in�such indeb�edness,
<br /> or any de�ault under any security d�acuments for such indebtedness.
<br /> No Modificativn. Trustvr shall not enter in�o any agreement with the h�ider of any mvrtgage, deed a� �rust, or
<br /> ather security agreement which has priori�y o�er this Deed of Trust by v+rhich that agreem�n� is mvdi�ied,
<br /> amended, ex�ended, or �enewed withaut the prior written con�ent af Lender. Trusta�r sh�ll n��ther request nor
<br /> ac�ep��ny future adva�ces und�r any such se�urity agreemen�withaut�h�priar writt�n consent o�L�nder.
<br /> CaNQEMNATI�N, The foitowin�pra�isians r��atin�1�t���nr��mnation praG�edin�s are a par�❑f th�s Deed af Trust:
<br /> F�rv�eedings. If any proGeeding in condemn�ti4n i� fil�d, �'rus�a� shall prampt�y notify L�nder in wri�ing, and
<br /> Trus�or shall promp�ly �ake such st�ps as me�► �a� necess�ry to def�nd th�e a�tian and ❑btain the award. Trus�or
<br /> may be the nominal party in such pro�eeding, but �.�nder shai� be entitled�v participate in the proceeding and tv be
<br /> represent�d in the prviceeding by Gounsel c�f its awn chaice, and Trus�or will deli�er car c�use �a �e deli�ered ta
<br /> Lender such ins�ruments and dacumentation as m� be r�quested by Lender fram time �❑ t�me tv permit such
<br /> parti�ipatior�.
<br /> Ap�pli�ation af Net PrvGeeds. If alf or �ny part o�the -�roperty is �ondemned by eminent domafn praceedings or �y
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