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2� 1 ��451 �
<br /> DEED �F TRUST
<br /> Loan No: 5691�9 ��ontsnued} Page 3 �
<br /> satisfactory provf af such expenditure� pay or reimburse Trustvr from ihe proceeds for the reasonable cost �f
<br /> repair or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which ha�e nat be�n
<br /> disbursed within 1 S� days after their receipt and which Lender has nat committed to the repa�r or restaratian vf
<br /> the Property shall be used first to pay any amount❑wing tv Lender under this ❑eed of Trust, then ta pay accrusd
<br /> interest, and the remainder, if any, shall be applied tv the principal balanc� of the Indebtedness, if Lender holds
<br /> any proceeds after payment in full o� the Indebtedness, such prnceeds shall be pa�d to Trustvr as Trustor's
<br /> interests maY appear.
<br /> LENDER'S EXPENDITURES. !f Trustor fails tAy to keep the Praperty free of all taxes, Eiens, security interests, �
<br /> encumbrances, and other claims, �By to prv�ide any required insurance on the Property, or �C} to make repairs to the
<br /> Property then Lender may do so. if any action or praceeding is commenced thai would materially affect Lend�t's
<br /> interests in the Property, then Lender on Trustor's behalf may, but is not required to, take any action that Lender ,
<br /> belie�es ta be appropriate to protect Lender's interests. All expenses �ncurred or paid by Lender fvr such purpnses will
<br /> then bear interest at the rate charged under the Note trom the date incurred or paid by Lender to the date of repayment ;
<br /> by Trustor. All such expenses will becvme a part of the �ndebtedness and, at Lender's option, will �Ay be payable vn ;
<br /> demand; �B� be added to the halance of ihe Note and be apportioned among and be paya�le with any installment
<br /> payments ta becvme due during either t 1 j the term at any appli�able insuran�e policy; or �2} the remaining term o�
<br /> the Note; or �Cy be treated as a balloon payrnent which wi�l be due and payable at the Note's maturity. The Deed vf
<br /> Trust aiso wijl secure payment of these amaunts. The rights pro�ided for in this �aragraph shall be in addition to any
<br /> other rights ❑r any remedies to which Lender may be entitled on account of any default. Any such action by Lender
<br /> shall nvt be construed as curing the default so as to bar Lender trvm any remedy that it otherwise wouid ha�e had.
<br /> YVARRANTY;DEFENSE�F T1TLE. The fvllowing prv�isions relating ta ownership of the Property are a part af this Deed
<br /> of Trust: �
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<br /> Title. Trustor warrants that: �a� Trustor holds good and marketable title vf record to the Property in fee simple�
<br /> #ree and cSear of all �iens and �ncumbrances oiher than those set forth in the Rea� Property description or in any
<br /> title �nsurance pvlicy, tit�e report. or final title ❑pinian issued in fa�or �t, and accepted by. Lender in connectivn
<br /> with this Deed of Trust, and �b� Trustvr has the full right, power, and autharity tv exe�ute and deli�er this Deed vf
<br /> Trust to Lender.
<br /> Defense of Title. Subject to the exception in th� paragraph abo�e, Trustor warrants and will fore�er defend the
<br /> tiile to the Praperty against the law#ul claims of all persons. In the e�ent any action or proceedEng is commenced
<br /> that questions Trustor's title ❑r the �nterest of Trustee ar Lender under this Deed of Trust, Trustor shail defend the
<br /> action at Trusior's expense. Trustor may be the nominat party in such praceeding, but Lender shal� be ent+tled t❑
<br /> participate in the prviceeding and to be represented in the proceeding by counsel of Lender's own choice, and
<br /> Trus#ar will delf�er, ar cause to be deli�ered. ta Lender such instruments as Lender may request from time to time
<br /> to permi#such participation.
<br /> Compliance VNith Laws. Trustor warrants that the Property and Trustar's use of the P�operty complies with a1!
<br /> existing applicab�e laws, ordinances, and�egulatians of go�ernmenta!authorities.
<br /> Sur�ival af Promises. All prvmises, agreements, and stafements Trustar has made in this Deed of Trust shal�
<br /> survt�e the executian and deli�ery of this Deed of Trust, sha�i be cantinuing �n nature and shall remain in full force
<br /> and effect untii such time as Trustor's Indebtedness is paid in fu11.
<br /> C�NDE�IrINATIQN. The#ollowing pro�isions relating to condemnation proceedings are a part of this Deed of Trust:
<br /> Prviceedtn9s. If any prviceeding in condemnation is fi�ed. Trustor shall prvmptly notify Lender in writing, and
<br /> Trustar shall promptly take such steps as may be necessary to defend the action and obtain the award. Trustor
<br /> may be the nomina�party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be
<br /> represented in the proceeding by counse� of irs �wn choice� and Trustor will deli�er vr cause t� be deli�ered to
<br /> Lender such instruments and documeniation as may be requested by Lender frflm time ta time to perm�t such
<br /> participation.
<br /> Applicativn of Net Proceeds. If all or any part of the Property�s condemned by erninent domain proceedings vr by
<br /> i any proceeding vr purchase in lieu of candemnation, Lender may at+ts election require that al�or any portion of the
<br /> net prviceeds ❑f the award be applied ta the Indebtedness oc the repair or restoratian of the Prvperty. The net
<br /> j proceeds vf the award shall mean the award after payment❑f all reasonable cvsts. expenses, and attarneys' fees
<br />. incurred by Trustee or Lender in connection with the condemnation.
<br /> IIVIPQSITIQN �F TA�tES, FEES AND CHARGES BY G�VERN1'VIENTAL AUTH�RiTIES. The foElowing prv�isions re�ating
<br /> to go�ernmental taxes� fees and charges arg a part of this Deed o�Tcust:
<br /> Current Taxes, Fees and Charges. Upon request by Lender, Trustor shali execute such documents in addiiion to
<br /> this Qeed of Trust and take whate�er other act�vn is �equested by Lender tv pertect and continue Lender's lien on
<br /> tha �eal Property. Trustor sha�i reimburse Lender for all taxes, as described below, together with ali expenses
<br /> incurred in record'+ng, pe�fecting or continuing this Deed of Trust, tnc�uding without limitation all taxes, fees,
<br /> dvcumentary stamps, and other�ha�ges fvr recvrding or registering�his Deed of Trust.
<br /> Taxes. The following shali cvnstitute #axes io which this section appl�es: t 1) a specific tax upon this type of
<br /> ❑eed of Trust or upvn all or any part of the Indebtedness secured by this Deed of Trust; t2f a specific tax on
<br /> Trustor which Trustvr is authvrized or required to deduct�rom payments vn the lndebtedness secured by this type
<br /> of Deed of Trust; �3y a tax on this type of Dsed of Trust chargeable against the Lender or the hoider of the No�e;
<br /> and �4� a specific tax on all or any p�riian of the Indebtedness❑r on payments of principal and inter�st made by
<br /> Trustor.
<br /> Subsequent Taxes. If any tax to which this section applies is enacted subs�quent to the date af this Deed o�
<br /> Trust, this e�ant sha�! ha�e the same effect as an E�ent af ❑efault, and Lender may exercise any ❑r ali of its
<br /> a�ailable remedies for an E�ent of Default as pro�ided be�ow uniess Trustor either t 1 f pays the tax before it
<br /> bscomes definquent� or t2} contests the tax as prv�ided abo�e in the Taxes and Liens section and deposits with
<br /> Lender cash or a sufficient corporate surety bond or other security sat+sfactory to Lender.
<br /> SECURITY AGREEMENT; FINANCING STATEMENTS. The follawing pro�isions relating t❑ this Deed of Trust as a
<br /> se�urity agreement are a part of this Deed af Trust:
<br /> Security Agreement. This instrument shal� constitute a.Security Agreement Eo the extent any of the Property
<br /> constEtutes tixtures, and Lender shall ha�e a�l of the rights of a secured party under the Uniform Cornmerc+al Code
<br /> as amended from time to tsme.
<br /> Security �nterest. Upon request by Lender, Trustvr shall take whate�er action is requested by Lender to perfect
<br /> and continue Lender's security interest in the Personal Praperty. ln addition to recording this Deed ❑f Trust in the
<br /> real properxy records, Lender may, at any time and without #urther autharization from Trustor, file executed
<br /> counterparts, copies or reproductions of this ❑eed ot Trust as a financing statemen�. Trustvr shall reimburse
<br /> Lender for a�l expenses incurred in perfecting or cantinuing this security inierest. Upon default, Trustor sha�[ not
<br /> remo�e, se�er or detach the Personal Property from the Property. Upvn default, Trustor shall assemble any
<br /> Persanal Property not affixed to the Property in a manner and a# a p�ace reasonably convenient to Trustar and
<br /> Lender and make it a�ailable to Lender within three �3y days after receipt of written dernand from Lender to the
<br /> extent permitted by applicable �aw.
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