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2� 1 ��3�91 DEED �F TRUST Loan Nv: 'i�'i�9�97� {C�nt�nued� Page 4 Proper�y then Lender may dv so. I� any ac�ion ❑r proceeding is commenced that would ma�eria[fy affect Lender's intsrests in the Property, �hen Lender ❑n Trus�vr's behal� may, but is nv� required to, take any a�ti�n tha� Lender belie�es to be appropriate�o pro�ect Lender's in�erests. All expenses incur�ed �r paid hy Lender�Fvr such purposes will then bear in�erest a�the rate charged under�he N�te from�he da�e incurred or paid by Lender�o�he date o�repaymen� by Trustor. A�I such expenses will become a part❑f fhe Indebtedness and, a� Lender's �ptian, will �A} be payable vn demand; �� be added �❑ the balance a� the Nate and be apparti�ned among and b� payable with any installment payments to bect�me due during either {�} �h� term of any applicable insurance policy; or �� the remaining term o� th� N�te; ar {C� b�trea#ed as a balloon paymen�whic4� will be due and payabie at the Na't�'s maturity. The De�d ot Trust also will secure payment o�these amaunts. The �ights pra�ided far in this paragraph shall be in addi�ivn to any ❑ther rights or any remedies �o ►nrhi�h Lender may be entitled an account ❑fi any de�aul�. Any such ac�ion by Lender shali no�be construed as cur�ng the de#ault sv as to bar Lender�r�m any remedy that it vtherwise wauld ha�e had. WARRANTY; DEFENSE�F TITLE. The fa[f�wing pro�isions rela�ing tv awnership af�he Praperty are a part o�this ❑eed of Trust: Tit�e. Trustor warrants that: �a} Trustor holds good and marketab[e �i�le o'� recvrd t❑ the Property in �e� simple, firee and clear o� aly liens and encumbrances ❑�her than thase se� far�h in the Real P�rvperty descriptian vr in any title insurance palicy, �itle repor�, ❑r final t�tle opinian issued in fa�vr a�, and acc�pted by, Lender in cvnnection with this Dsed ❑f Trust, and tb� Trus�or has the full right, paw�r, and authority t❑ execute and deli�er�his Deed �� Trust�o Lender. De#ense o� Title. Subjec� to #he except�vn in the paragraph aba�e, Trustor warrants and wil� fr�reW�r de�end the tit[e to the Pr�perty against th� law�ul c�aims ❑� a!I persvns. In the e�ent any action or proceeding is commenced tha�ques�ians Trus�vr's#itl� ❑r the interest a�Trust�e nr Lender under this Deed af Trust, Trustar shall defend the ac�i�n a��rustar's expense. Trustar may be the nomina! par�y in such praceeding, but Lender sha�l be entit3ed to participa�e En �he pra�eeding and ta be represented in �he proceecling by counsel of Lender's vwn chvice, and Trus�or wi�� deli�er, or cause�o be deli�ered, �o L�nder such inst�rumen�s as Lender may request trom time ta time �o permit such participat�an. �omp�iance 11Vi�h Laws. Trustor warrants tha� �he Prop�rty and Trustvr's use of the Property cvmpii�s vuith a!I �xisting applicabie�aws, ordinances, and regulatians�#go�ernmental authoritfes. Sur�i�al o� Promises. All pramises, agreements, and statements Trustvr has made in �his Deed of Trust shall sur�i�e the execution and de[��ery vf th�s Deed of Trus�, sha[l be can�inuing in nature and shall remain in �ull �ofce and effe��until such time as Trustor's [ndeb�edness is paid in fuEl. C�NDENlNATIQN. The follawing p�-a�isions relating tv condemnatEvn proceedings ar� a part a�this ❑eed❑f Trust: Prviceedings. l� any proceeding in cond�mnation is filed, T�ustar shall prompt[y no�ify Lender in writing. and Trustar shall promptly �ake such s�eps as may be necessary ta defend the action and abtain the award. Trustor may be the nominal par�y in such proceeding, but Lender shaii be�n#i�ied to participat� in the proceeding and tv be represented in the proceeding by counsel o# its awn choice, and Trus�vr will deliver ar cause to be de��v�red tv Lender such ins��-uments and dvcumen�ativn as may be request�d by Lender �r�m time to time to permit such participation. Appl�cation v�Net Prviceeds. lf all or any par�v�the Prvperty is condemned by �minent domain prv�eedings or by any proceeding or purchase in iieu of�ondemnativn, L�nd�r may a�its ele�tivn require that all vr any partion ❑f the net proceeds ❑f the award be applied to �he indeb�edness �r the repair or restaration of �he Praper�y. The net proceeds at th� award shall mean #he award a�ter paymen� of all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in cannection with the candemnation. IMPDSITIDN �F TAKES. FEES AND CHAR�ES 6Y GDVERNMENTAL AlJTH�RiTIES. The ��Ilvwing prvWisions retating to go�ernmental tax�s, fees and charges a�e a part of this Deed v�Trust: Current Taxes. Fees and Gharges. Upon request by Lender, Trus�or shall execute such dacuments in addition to this Deed of Trust and�ake wha�e��r ofiher a�tion is �equested by Lender to per�ect and continue Lender's lien ❑n the ReaE Praperty. Trustar shall reimburse Lender fvr all taxesr as described belaw, �og��h�r with all expenses incurred tn recording, perfecting vr continuing this ❑eed af Trust, including withau� limitation al� taxes, #ees, documenrary stamps, and oth��charges#or reca�ding fl�regis�ering this Deed o�Trust. Taxes. The to�lawing sha�� c�nsti�u�e taxes �o whi�h this seGtion app[i�s: {�} a specE�ic tax upon this �ype of Deed of Trust ❑r upon all or any part af fhe lndebtedness secured hy �hEs Deed at Trus�; �2y a sp�cific tax vn Trustvr which Trustvr is au�hvriz�d or requEred ta deduct�rom payments on the lndebtedness secured by this typ� of Deed af Trust; �3y a tax❑n this type�f�eed ��Trust chargeabie against the Lender or the ha�der o��he Note; and �4� a specEfic�a�€ an a!1 ar any pvrtion ❑��he �ndebtedness �r on payments o� principal and in�eres� mad� by Trustar. Subsequen# Taxes. I� any tax �n which �his section applies is ena�ted subsequent ta the date vf �his ❑�ed vf Trust, this e�ent shall ha�e the same e��e�t as an E�ent o� Defau[t, and Lender may exercise any or all of its a�ailable remedies �or an E�ent ot De�ault as pra�ided below unless Trustvr either ��f pays �he tax be�ore it b�comes delinquent, or �2� cvntests the tax as prv�ided abo�e in the Taxes and Liens sectian and deposits with L�nder cash vr a su�ficient co�porate surety bond or o�her securi�y satis�actary�v Lender.