|
2� 1 ��31 �7
<br /> . ���� �� �����
<br /> . . ��ar�������} Page �
<br /> LENDER`S EXPENnlTUR�S, If T�ustor fails �A} to keep �he Prap��ty �ree of a!I taxes, �iens, securi�y interes�s,
<br /> encumbrances, and o�her claims, �B} to pravide any required insurance on the Prape�ty, �G} �a make repairs �o the
<br /> Property ar to compiy with any ❑biigation to maintain Existing �ndebtedness �n good s�anding as required �elow, �h�n
<br /> Lender may da sa. I� any act�on or praceeding is commenced that would ma��ria[iy aff��t Lender's inter�sts in the
<br /> Pr�pe�fy, then Lender on T�us��r`s behalf may, but is nat required ta, take any a�tion �hat Lender belie�es t❑ b�
<br /> appropria�e to prafiect Lender's in��rests. A�I expenses incur�ed flr paid by Lender f�r such pu�poses w��� then bear
<br /> in�erest at the rate charged under the Credi� Agreement frflm the date incurred or paid �y Lender to the date of
<br /> repayment by Trustflr. All such expenses wil! become a pa�t of th� Indeh�edness and, a� L�nder's opt�on, wi[I �A} be
<br /> payabEe on demand; ��3 be add�d to �he balance of�he Credi�Agreemen� and be appor�ianed among and be payable
<br /> w�th any instal�men�payments ta becom� due�uring ei�her �'�} �he term �f any applicab�e insurar�c�pol�cy; or {�} the
<br /> remaining term of the Credifi Agreemen�; or �C} be treated as a balloan payment which will he due and payahle at the �
<br /> Credit Agreement's maturity. The Deed of Trus�afs�wi�l secu�e paymen�of these amoun�s. The rights pr�vid�d for in
<br /> � . �h�s paragraph shall be in addi�i�n �� any athe� rights or any remedies to which Lender may be entitled on accaun� of
<br /> any default. Any such ac�ion by Lender shall not be cons�rued as curing the de�au�t sa as to bar Lender from any
<br /> . remedy that if othenn�ise would ha�e had.
<br /> 1�ARRANTY; DEFENSE�F TITLE. The fallowing proWisians relating to Q�nership of�he Property are a pa�t of this Deed
<br /> of Trus�:
<br /> Ti�le. Trustor warrants that: ta} Trus�or holds good and marketa�ie tifi�e of record to th� Property in fe� simple,
<br /> free and �lear of al� liens and encumbrances othe�than th�se set for�h �n the Real Prvperty description or in the
<br /> � Ex�s�ing lndebtedness section below❑r in any title insurance policy, tit�e report, ❑r fina!tit�e opinian issued in fa�or
<br /> of, an�1 accepted by, Lender in cannectior� wi�h th�s ❑eed af Trust, and �b} Trustor has the ful� right, paw�r, and
<br /> au#hori#y tfl execute and deli�er this ❑eed of Trus�ta Lende�.
<br /> Defense of T�#�e. Sub�ect t� fhe exception in �he paragraph above, Trustor warrants and wil� fore�er def�n� the
<br /> fit�e to the Property against the law�ul c�a�ms of all persons. !n the e�ent any ac�ion or pro�eeding is commenced
<br /> �hat questions Trus�or's tif[e or#he interest of Trus�ee or Lender under this ❑eed o�Trust, Trustor shafl def�nd the
<br /> ac�ion a�Trustor's expense. Trus�or may be the nominal par�y in such proceed�ng, but Lender sha[I be entitl�d to
<br /> participate in the proceeding and to be represented in the proceeding by caunse� of Lender`s awn choice, and
<br /> Trustar wifl deliver, or cause to b�del��e�ed, to �ertde�such inst�umen#s as Lend�r may requ�s�from time t��ime
<br /> t�perm��such parkicipation. _
<br /> - Gompliance i�Vi�h Laws, Trustor warran�s tha� �he Praperty and Trustor's use o� the Property compfies with all
<br /> existing app�icable la�vs, ordinances, and regulati�ns o�go�ernmental authorit�es.
<br /> Survival o� P�omises. A�� promises, agreemen#s, and s�a�ements Trustor has made in this Deed of Trus� shail
<br /> survi�e the executi�n and de�i��ry of this ❑eed of Trus#, shail �e continuing �n nature and sha�l remain in fu�l fa�ce
<br /> a,nd effe��unti�such time as Trusta�'s Indebt�dn�ss is paid in�u��.
<br /> EX�STiNG iNDEBTEDNESS. The�o€law�ng pro��sions concerning Existing Indeb�edness are a par�o�this Deed o�Trust: �
<br /> Existing Lien. The lien of this De�d o�F Tru�� securing �he lndebtedness may he secondary and inferi�r to an
<br /> exis�i�g lien. Trus�ar expressly covenants and agrees ta pay, or s�e to the payment of, �he Existing �ndebtedness
<br /> and�o prevent any defaul�on such indebtedn�ss, �ny default under the instruments e�iden�ing such indebtedness,
<br /> or any defau�t und�:r any security do�uments fior su�h indebtedness.
<br /> No N9od�f�cativn. Trust�r shall no� ent�r� into any agre�ment with the hoid�r of any mor�ga�e, deed o�trust, or
<br /> other security agreement whi�h �has priority o�er �his De�d af Trust by which that agreement is modif�ed,
<br /> amended, ex�ended, ❑r renewed without fhe prio� written consent of Lender. Trustor sha�1 nei�her request nor
<br /> a�cept any futur�advances under�any such se�urity agreem�nt w�thaut�he prior wri�ten cansent o�Lender.
<br /> C�NDEMNATI�N. The following pro�isions relating to candemnation proceedings are a part o�this Deed o�Trus�:
<br /> Praceedings. If any p�oceed�ng �n condemnation is fi��d, Trustor shall promp�ly notify Lender in wri�ing, and
<br /> Trustor shall promptly fake such steps as may be necessary to defend the a�tion and abtain th� award. Trustor
<br /> may be�he nomina!pa�ty in such p�ace�ding, but Lender�shall be en�itled to participate in�he proceeding and�o be
<br /> represented in the p�oceeding by counsel of i�s own cho��e, and Trustor wii� deiiver o� cause to be de��vered �a
<br /> , Lender such instrurnents and d�cumenta�ion as may be r�quested by Lend�� �ram �im� to time to pe�mit su�h
<br /> pa�#icipatian.
<br /> Application of Ne�Proceeds, �f al1 or any part a��he Proper�y is condemned by eminen#damain proceedings ar by �
<br /> any proceeding or pur�hase in �ieu of�ondemna�ion, Lender may a#i#s elec�ion require tha�al� or any portion of�he
<br /> ne� pra�eeds o� the awa�d be app�ied �o �he Indebtedness or the repair ar restoration af the Prape�ty. The net
<br /> proceeds of the award shall mean �he award af�e�payment�f al! reasonab�e costs, expenses, and attorneys' fees
<br /> incurred by Trustee or�ender in connec�ion wifh the condemna�ian.
<br /> ��P�SI�'1Q�1 flF T�XES, FEES AND CHARGES BY CQVERN�IlEP�TAL AUTHQRt`T1ES. The following provisians re�a�ing
<br /> fa�o�ernmenta�taxes, fees and charges are a pa�t a��h�s Deed of Trus�:
<br /> Gurrent Taxes, Fe�s and Char�es. Upan reques# by Lender, Trustor sha�� exe�ute such �ocuments in add�#ifln to
<br /> th�s Deed o�Trust and take whate�er other ac�ion is requested �y L�nd�r to pe�ec�and continu� Lender's �ien on
<br /> the R�a� Praper�y. Trus�or shal� reimburse L�nder for a�I �axes, as describ�d below, toge�her w��h a!I expens�s
<br />
|