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2� 1 ��3�81
<br /> D�EL� �F T�UI�`f
<br /> �����i�7u�d� �age 3
<br /> Lender,depasi�vvith Lender cash�r a su�ricient�orp��ate sure#y bond or ather securi#y satisfactary to Lender in an
<br /> amount suff�ient�o discharge�he lien p�us any c�sts and a�to�-neys'fees, ar other charges�hat cauld accrue as a
<br /> resu��of a foreclasure or sale under the lien. in any con�est, Trustor shall defend itself and Lender and sha�l satisfy
<br /> any adverse judgment hefare en�orcement against the Property. Trustvr shall name Lender as an addifional ab[igee
<br /> under any surety bond furnished in the can�esf proceedin�s.
<br /> �viden�e of Payment. Trustar shall upon demand furnish ta Lender satisfac�vey eviden�� af payment o��he�axes
<br /> or assessments and shall autho�ize the appropriate gav�rnmen�al officiai�a de�iver ta Lender at any time a writ�en
<br /> statement❑f�he taxes and assessments against the Praper�y.
<br /> Not�Ge af Cnnstruction. Trustor sha!! notify Lender at[east�i�teen �`�5} days before any wark is commenced, any
<br /> senrices are furnished, ❑r any materEals are supp�ied to the Property, if any me�hanic's iien, maferialmen's lien, or
<br /> ather lien couid be asserted an accaun� of the work, se�v�ces, or materiafs. Trustar wili upon request o�Lender
<br /> furnish to Lender advance assurances sa#is�actvey to Lender that Trustor c�n and will pay the cost of such
<br /> �mpro�ements.
<br /> PR�PERTY DA�UTAGE �NSURANCE. The falf�wing pro�isians re�ating tv insurin�the Property are a pa�t o�this ❑eed of
<br /> Trus�.
<br /> Illlaintenance of Insuran�e. Trusto� shali procur� and main#a�n polic�es of fire insuranGe with standard extended
<br /> �overage �ndorsements on a fa�r value basis �or the fui[ insurable �alue Gaver�ng a!I Impro�ements on th� Real
<br /> Praperty in an amount su�fi�ien� to avoid appEi�atian of any coinsurance c�ause, and with a standard mo�gagee
<br /> claus�in faWor of Lender,#ogether with such other hazard and liat�ility insurance as Lender may reasonably require.
<br /> Paiici�s shal! be writ�en in �Form, amounts, ca�erages and �asis reasanably acceptable to Lender and issued by a
<br /> company ar companies reasonably accep�ahle to Lender. Trustar, upan request of Lender, will deliver�o Lender
<br /> �rom time to time the polic�es or ce�tificates of insuranc� }n f�rm sa�isfacfiory�� Lender, inc�uding stipulations that
<br /> coverage�will not be cancelled ar diminished withou�at least thirty�3�}days prior wr�tten no�i�e to Lender. Each
<br /> insurancs po�icy al�o shall include an endo�-sem�nt praviding�hat �overage in favor of Lender will not be impaired
<br /> in any way by any act, omission ar defaul�af Trusta�-or any other person. Should the Real Praper�y be locafed in
<br /> an area designated by the�Administrator of the Federal Eme�gency Nianagement Agency as a special�load hazard
<br /> ��ea, Trusto�- agrees t❑ obtain and main�ain Federa� Fiood Insurance, �f availab�e, fo� the maximum amount af
<br /> Trustor`s c�edit�ine and the fu�l unpaid principal balance af any p�ivr liens ❑n�he proper�y seCuring the loan, up to
<br /> the maximum policy I�mitS set under the IVational Flood �nsurance Pragram,or as otherwise required by Lender,and
<br /> ta ma�ntain such insurance far the term of fhe laan.
<br /> Appiica�ion of Proceeds. Trustor sha![ prompt�y no�ify Lender�f any loss or damage tn the Property. Lender may
<br /> make proof of loss if Trustar faiis �o do sv uv��hin fifteen �'15� days of the casuaity. �Illhether or no� Lender's
<br /> se�urity�s impa�red, Lender may, a�Lender's elec�ian, rece�ve and retain the pr�ceeds af any�nsurance and apply
<br /> the proceeds to �h� reduc�ian of the Indebtedn�s�, payment o�any lien a�fecting the Property, or the restoration
<br /> � and r�pair of the Praper�y. 1f Lender e�ects to apply#he proceeds to resforatian and r�pair, Trustor sha�l repair or
<br /> repiace the damaged �r d�stroyed Impravem�nts in a manner satisfactory �Q Lender. Lende� shail, upon
<br /> satisfa�tory pron� o� such expendifure, pay o� reimburse Trus�r�r from the proceeds far the reasonable C�S� of
<br /> repair vr restorativn if Trustnr is nnt in default under this Deed of Trus�. Any prviceeds whiGh have nvt heen
<br /> disbursed within 18D days af�er th��r receipt and which Lender has nflt committed �o the repair or restorafiion of
<br /> the Prop�rty shall be used first t❑ pay an�amount❑wing ta Lender under this Deed a�Trust,then�a pay accrued
<br /> in�erest, and �he �-emainder, ��any, shall b� applied �o #he prine�pal balance ❑f the lndeb�edness. !f Lender haids
<br /> any proceeds after payment in full o�' fhe Indebtedness, such proGeeds shali be paid ta Trustar as Trusto�-°�
<br /> inte�c�sfis may app�ar.
<br /> Compiiance with Exis�ing lndebtedness. During th� period in which any E-xisting lndebtedness described belaw is
<br /> in e�fect, compliance wi�h the insurance provisions �onta�ned in #he �nstrument e��dencing su�h Existing
<br /> Indelatedness shall canstitute camp�iance with the in�urance prov�sions under this Deed a� Trust, �a the sxtent
<br /> compliance with #he ferms ot this Deed of Trust wauld ��ns�itute a dup�ication of�nsurance requirement. If any
<br /> proceeds from�he �nsurance become payable on �ass, the provisians in this ❑eed of Trust far division af p�oceeds
<br /> shaIl appiy only t❑that por��on af the proceeds not payable to�the halder af the Existing indebfiedness.
<br /> LENDER'S ExPEND[TURES. !� Trust�r fails �A} to keep the Proper�y free o� al! taxes, li�ns, secut-ity interests,
<br /> encumb�-ances, and ofher claims, [B} �o pro��de any required insurance an �h� Property, {C} to make repairs to�he
<br /> Pr-aperty ar fo comply with any obligation ta main�ain Exisfiir�g lndeb�edness in gac�d standing as required h�law, �hen
<br /> Lender may do so. !f any ac�ion or proceed�ng is cammenced that tirvould materiafly affec� Lender's interes�s in the
<br /> Property, then Lend��- an T�-ustar`s behalf may, but is not r�quired �o, take any action that Lender believes to he
<br /> appropria�e to pro�ec� Lender's interests. Al[ expenses incurred nr paid by Lender far such purposes wil� then bear
<br /> inferest af the rate charged unde�- �he Cred�t Agreement'fram �he �ate in�urred ❑�- paid by Lender to fihe date nf
<br /> repayment�y Trustor. All such expenses�rvEfi become a p�rt �f the �ndebtedness and, at Lender's option, will (A} be
<br /> payable �n demand; �B} be added �o the balance of the Credifi Agreement and be appark�an�d among and be payable
<br /> with any installmen�payments tv became due during either �1} the term of any app�icable insurance po�icy;vr ��} the
<br /> remaining term ❑f the Credit Agreement; ar �G} be trea�ed as a ba�loon payment which will be due and payable at the
<br /> Credit Agreement's maturity. The Deed o�Trus�also will se�ure payment of these amaunts. The rights prn�ided for in
<br /> this paragraph shall be �n add�tion �o any other righ�s or any remedies�a which Lender may be en�itled on account o�
<br /> any defau[�. Any such act�on by Lende� sha1� no� be cons�rued as curing the defauft s❑ as t� bar Lend�r from any
<br /> remedy that it otherwise would ha��had.
<br /> iIVARRANTY; DEFE�ISE�F TITLE. The f�!lowing pro�isians reiating tv ownersh�p vf�the Praperty ar�a park o�fhis Qeed
<br /> o�Trus�:
<br /> T�tfe. Trustor warrants fhat: �a} Trus#or holds good and rnarketable #�tle of record tn the Property in fee simple,
<br /> free and ciea�of ali fiens and encumbrances oth�r than those s�t forkh �n the Real Prvperty deScr�ption ar in th�
<br /> Existing €ndebtedness section below or in any titl�€nsurance policy, ti�le repark, ar f�na�title ❑pinian issued in�a�or
<br /> of, and accepted by, Lender in cvnnection with this Deed of Trust, and �b}Trustor has the�u�� right, power, and
<br /> authority�o execute and deliver this Deed of Trus�t�Lender.
<br /> Defense o�Ti��e. Subjec�to �he exceptian in fhe paragraph aba�e, Trustor warrants and will farever d�fend the
<br /> tifile to�he Property against the �awful claims �f a11 persons. !n the e�ent any action or praceeding is cammenced
<br /> tha�quest�ons Trusta�`s ti��e vr the interest of Trustee`❑r Lender under fihis Deed af Trust,Trustvr shall de�end the
<br /> ac�ion a�Trustar's expense. Trus�or may be the nominal party in su�h proceeding, but Lender shal� be entitled to
<br /> pa�kicipate in �he proceeding and to be represented in #he pro�eeding by �ounsel of Lender's ❑wn choice, and
<br /> Trustar will deli�er, or�ause to be de{ivered,ta Lende�such �nstrumen�s as Lender may�-�quest from time tn time
<br /> to permit su�h par�icipation.
<br /> Carnpiiance Vlr�fih Laws. Trustar u�arran#s that�he Proper�y and Trustor's use of the Prc�per�y complies with all
<br /> existing applicable faws,ordinance�,and regulations af governmenta�authori�ies.
<br /> Sur�ival v� Prvmises. All promises, ag�eemen�s, and statemen�s Trustor has made in this ❑eed of Trus# sha[�
<br /> su�-vi�e#he execution and deli�ery a��his ❑eed of Trust, shalE be cantinuing in natu�-e and shali remain in#ull force
<br /> and ��f��t un�il such�ime as Trustar's lnde�tedness is paid in ful�.
<br /> EXISTING��DEgTEDNESS. The following provisions cancerning Existing indebtedness are a pa��f this❑eed af Trust:
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