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2� 1 ��4451
<br /> DEED �F �'RLJST
<br /> ��ontinued} Page 4
<br /> disbursed within '18a days af�e��heir receipt and which Lender has not committed to the repair or rest�ra�ion o�
<br /> the Property shall be us�d first fo pay any amount awing ta Lender under this Deed o�Trust, then �o pay accrued
<br /> interest, and the remainder, �f any, shall be applied �o the principa� ba�ance of�he f ndeb�edness. If Lender holds
<br /> any praceeds after payment in full of �he lndeb�edness, such pra�eeds shall be paid �o Trus�or as Trustor'�
<br /> interests may appear.
<br /> LENDER'S EXPENDITLIRES. �� Trustar fails �A} to keep the Property free v'� al! taxes, li�ns, securi�y in�eres�s,
<br /> encumbrances, and ofher claims, �B} �o proWide any required insurance on the Property, or �C} to make repairs t�the
<br /> Praperty �hen Lender may do so. If any action ar pro�eeding is �ommenced tha� would materia�ly affect Lender's
<br /> interests �n the Pro�erty, th�n Lender an Trustor's behalf may, but is nat required �o, take any actian that Lend�r
<br /> beiieves�o he appropriate�o protect Lender's int�rests. Af� expenses incurred or pa�d by Lender for such �urposes wifl
<br /> then bear in�erest at�he rate �harged under the Credit Agreement from the da�e incurred or paid by Lender ta the date
<br /> of repayment by Trustor. Aff such �xpenses wil� become a part o��he Indeb�edness and, at Lender's aption, wil� �A}
<br /> be payable on demand; �B} be added to �he balance of �he Credit Agreement and be app�rtioned amang and 1oe
<br /> payable wi#h any instai[ment payments�o become due du�ing eith�r (1} the term of any appiicable insuran�e policy; �r
<br /> �2} the remaining term of the Gredit Agre�men�; or �C} be treated as a balloon payment which w�If be due and payable �
<br /> at the Credit Agreement's ma�uri�y. The❑eed�f Trus�also will secure payment of these amounts. The r�gh�s pro�ided
<br /> f�r in this paragraph shafl be in additian to any other r�ghts or any remedies t❑which �ender may be enti�led�n accoun�
<br /> of any default. Any su�h a�tion by Lender shal� no� be construed as euring �he defaul�so as to bar Lender��om any
<br /> remedy that i�otherwise wauld have had.
<br /> VIrARRANTY; DEFENSE�F TiTLE. The fo�lowing provisions relating to o�runership of�he Praperty are a part of this Deed
<br /> o�Trus�:
<br /> Ti�le. Trustor war�ants tha�: �a} Trus�flr holds good and marketabfe �itfe of record to the Property �n fee simple,
<br /> free and clear o�a!I liens and encumbrances othe�than those se� farth in th� R�a! Prope�y descrip�ion or in any
<br /> ti�f� insurance policy, �iffe repo�t, or finaf �it�� opinion issued in favor of, and acc�p�ed by, �end�r in conne�tion
<br /> with this Deed af Trust, and �b}Trustar has�he�ull right, p�wer, and au�harity to exe�ute and deli�er this Deed v'�
<br /> Trust�o Len�er.
<br /> Defense vf Title. Subjec�to the excep�ion in �he paragraph aba�e, T�ustor warran�s and wiE! forever defend the
<br /> �i�le �o the Praperty against fhe Iawfuf claims of a11 p�rsons. in th�event any actian ar proceeding �s commenced
<br /> that questians Trustor`s title�r the interest o�Trustee ar Lender unde�this Deed of Trust, Trustor shal� defend the
<br /> ac�ian at Trustor's expense. Trus�or may be the nominal par�y in such pra�eeding, but Lender shal! be entit�ed to
<br /> participate in �he proceeding and fo be represented in the proceeding by �ounsel af Lender's own choice, and
<br /> Trustar w�ll del�ver, or caus�to be de�i�ered, �o Lender su�h instrumen�s �s Lender may request from time�o time
<br /> to permit such participation.
<br /> Com p[iance Vtilith Laws. Trustor warrants tha� fhe P�aper�y and Trustor's use of the Praperty complies w€th all
<br /> existing app��cable laws, ardinanees, and regulations a�governmental au�horities.
<br /> 5urvival af Pr�mises. Af! promises, agreements, and statements Trus�or has mad� in this ❑eed of Trust shafl
<br /> sunri�e the execu��on and del�very of�his D�ed of Trust, shafl be con�inuing in na�ure and shall remain in fu[I force
<br /> and effec�until such time as Bor�ower's lndeb#edness�s paid �n full.
<br /> �ONDEMNATI�N. The�of�ow�ng pravisions relat�ng to candemnat�on praceedings a�e a park of#his Deed of Trust:
<br /> Prace�dings, If any proceeding in eandemnation is fifed, Trustor shall pramp�fy not�fy Lender in writing, and
<br /> Trusto�shall promptly take such st�ps as may be necessary to defend fhe acti�n and obtain the a�ard. Trustor
<br /> may be the nom�nal party in such proceeding, but Lender shal! be ent�t�ed to participafe in the proceeding and ta be
<br /> �epresen�ed in �he proCeeding by c�unsei af its own choice, and Trustor wi!! deli�er or cause �o �e de[�vered to
<br /> Lender such ins�ruments and dacumenta�ian as may be requested by Lender �rom #ime to time ta permit such
<br /> participation.
<br /> Applica�iQn of Net Proce�ds. If a11 �r any part of the Property is condemned by eminent damain p�oceedings or by
<br /> any proceeding o�-pur�hase in lieu of candemnatian, L�nder may a�i�s ef�c�ion require that afl or any portion a��he
<br /> ne� pra��eds of fhe �ward be applied to �he �ndebtedness ar the �epa�r �r �esto�a��on of th� Property. The ne�
<br /> pro�eeds ❑f the award sha�l mean the award after payment o�af1 reasonable costs, expenses, and a�tarneys' f�es
<br /> incurr�d by Trustee or Lender in cannec�ion with#he condemnation.
<br /> IMPOSITI�N �F TAXES, FEES AND CHARGES BY G�VERNMENTAL AUTH�RITlES. The fol�a�ving provisions relating
<br /> �o g��ernmenta[taxes, fees and charges are a par�of this Deed o�Trus�:
<br /> Current Taxes, Fees and �harges. Upon request by �ende�, Trustor shafl execute su�h do�umen�s in add��zon ta
<br /> this �eed of Trust and �ak�whate�er other act�on is requested by Lender to perfect and con�inue Lender's �i�n on
<br /> the Reaf Properky. Trustor sha�l reimburse Lender �ar a�l taxes, as described below, together with all expenses
<br /> incurred in recording, per�ecting or continuing this Deed of Trust, including w�thou� limita��on a(I taxes, fees,
<br /> documentary stamps, and❑ther charges fQr record�ng or registering�his ❑eed o�Trus�.
<br /> Taxes. The �ollow�ng shall cons�itu�e taxes �o which �his s��tion applies: {�} a specific �ax upon this type a�
<br /> ❑e�d o�Trust �r upon al! or any part of the Inde�tedness se�ured by this Deed of Trust; �2} a spe�i�ic tax�n
<br /> B�rrower which Borrower is authorized or requ�r�d to deduct�ram paymen�s an the lndebtedness secured by�his
<br /> type o�D�ed o�Trust; �3} a �ax on this�ype a�De�d of T�ust�hargeabl� against�he Lender or�h� holder of the
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