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2� 1 ��4�49
<br /> DEED �F TRUST
<br />� �Gontinued} Page 3
<br /> area, Trustor agrees t❑ ❑btain and main�ain Federal FIood Insurance, i� a�a'rlable, for �he maximum amount of
<br /> Trus�ar's �redi�Iine and�he fu�l unpaid principal balance o�f any priar Iiens ❑n�he properry se�uring the loan, up�o
<br /> �he maximum poIicy�imi�s set unde�-the Na�ional FIo�d Insurance Pragram, ❑r as o�herwis�required by Lender,and
<br /> to main�ain such insurance for th�term o�the loan.
<br /> AppIi�afivn o-F Pro�eeds. Trus�or shall promp�ly notify Lend�r ❑f any loss or damage to �he Property if the
<br /> estima�ed cost of repair ar rep[acemen�exceeds $'I�0��.��, L�nde�-may make proo�ot Ioss 'r�Tru��or�FaiCs�o do
<br /> so within�ifteen {'I 5} days of�he ca�uaIty, Wh�ther ar no�Lender's security zs impaired, Lender may, at Lender`s
<br /> eI�ction, recei�e and re�ain the praceeds o-F any insurance and app�y the p�-oceed� to the reduction ofi �he
<br /> Indebtednes�, payment af any lien affe��ing �he Proper�y, or the restora�ian and repait� ❑��he Proper-�y. �f L�nder �
<br /> eIec�s �o apply �he pro�eeds to resta�a�ion and r�pai�', Trus�a� sha�I repair or repIa�e the damaged or destroyed
<br /> Impro�emen�s in a manner sa�isf�c�ory t❑ Lender. Lender shal�� upon sa�isfac�ary proof❑�f such expenditure, pay
<br /> ❑r reimburse Trustar from the proc�eds ��r the reasonable cost o� repair or res�nration if Trustar� is not in de�ault
<br /> under this Deed o�Trus�. Any praceeds whi�h ha�e nat been disbursed w��hin �8Q days afke�their receip� and
<br /> which Lender� has na� committed t��he repair❑r resfara��on of the Prvper�y shall be used first fo pay any amounf
<br /> owing to Lender under�his ❑eed of Trus�f then to pay accrued in�eres-�, and�he remainderr if any, sha[� be appIied
<br /> �❑ �he principa� balance vf the Indebtedness, [� Lender holds any proceeds a-F-��r paymen� in tulI ❑f �he
<br /> indeb�edness, such proceeds sha�i be paid to Trustor as Trusto�;s interests may appear. �
<br /> Compljance wi�h Existing Indebtedness. During �he per�od in which any Exis�ing �ndeb�edness desGribed beIow �s
<br /> in effec�, comp�iance wit� �he insurance pro�isi�ns confained in the ins�rumen� e�idencing such Exis�ing
<br /> Indebtedness shal! constitute compliance wi�h �he insurance pra�isions unde�- this Deed of Trust, to the extent
<br /> compliance wi�h the terms ❑-F th�s Deed of Trust wouid constitu�e a dupli�a�ion o�"rnsurance r�quiremen�. I�F any
<br /> praceeds from the insurance become payahIe on Ioss, �he pro�isions in this �7��d ❑f Trus��or divisian of proc�eds
<br /> shall appIy❑nly�o�hat portion af th�proce�ds not payable t❑th� halder o��he Exis�ing indeb�edness.
<br /> LENDER'S EXPENDITURES. I�F T�us�ar �aiIs (A� �o {ceep the Property free of al� taxes, Iiens, security interests,
<br /> encumbrances, and other claims, �B} fo pro�ide any required insurance on�he Property, (�} to make repairs to the
<br /> Prope�y ar tv �omp�y w'r�h any obIigation �o main�ain Exis�ing Indebtedn�ss in good s-tanding as required beiow, then
<br /> Lender may do so. !f any ac-�ion or proceeding is commenced �hat would materially affecf Lender's in�eres�s in the
<br /> P�opertyr then Lender on Trus�vr's behalf may� bu� is not r�equir�d to� �ake any ac�ion �ha� Lender believes �o be
<br /> apprapriate �o prvfect Lender's interes�s. AII exp�nse� incur-r-ed or paid by Lend�r far such pu�poses wi�i then bear
<br /> in�er�es� a� �1�e rate charged under �he Credit Agreemenf from �he date incurred o�- paid by Lender �❑ �he date af
<br /> repayment by Trus�or. All such expenses wilI be�ame a part of�he Indebfiedness and� at Lende�'s opti�n, wijl {A} be
<br /> payabie on demand; {B} be added to fihe balance ❑f the Credi�Agreemen�and be apportioned amang and be payable
<br /> with any installment payments�a become due du�-ing ei�he� ��} the term of any applicable insuran�e policy; ❑r ��� the
<br /> remain�ng�erm of�he Credit Agreemen�� or ��} be-�reated as a balIoon paymen�which wiII be due and payable a�the
<br /> �redi�Agreemen�'s ma�urity. The Deed ❑f T�ust a[so wit�secure payment of�hese amoun�s. The rights pra�ided far in
<br /> this paragra�ph sha11 b� in addi�ian t❑ any other righ�s o� any remedies�❑ which Lender may be en�itled on account ❑f
<br /> any defauf�. Any such actian by Lender shaIl no� be �on�trued as curing �he defaulf sv as to bar Lender �ram any
<br /> remedy�ha�i�v�herwtse would ha�e�ad,
<br /> WARRANTY;DEFENSE�F TITLE. The f��Iowing pro�isions reiating ta ownership a�the Properry are a par�v-F�hss Deed
<br /> ❑f Tru��:
<br /> Title. Trustor war-ran-ts tha�: {a} Trustar holds good and marke�able �itie of record to the Properry in -Fee simpie,
<br /> f�ee and cieat- ❑� all liens and encumbrances Q�her than fihase se��F�rth in the Rea� Prope�-ty descrip�ion or in the
<br /> Exis�ing Indebfedness section belaw ar in any tz�Ie insurance poIicy,ti��e repart, or�;naI-�iffe opinion�ssued in fa�ar
<br /> ❑f, and ac�ep�ed byr Lender in connection with this Deed ❑f Trust� and �b} Trustor has fhe �uII righ�, pawer� and
<br /> au�hority�o exe�u�e and deIive�r�his D�ed ofi Tru�t ta Lender.
<br /> D�fense of TrtIe. Sub�ect to the exception in the paragraph abo�e, Trustor warrants and wiII fore�er defend the
<br /> �itle�o �he Property agains��he IawfuI �Iaims af all persons. ln�he e�ent any a��ion or proceeding �s cammenced
<br /> tha�questions Trus�or's�i�ie❑r the in�eres�of Trustee or Lende�-under�h�s De�d ❑f T�us�,Trustor shaj� de�end the
<br /> action at Trus�or's expense. Tru��or may be-�he nomina� parfiy in such proceeding, �u�Lender shall be entitI�d to
<br /> parti�ipafe in �he proceeding and -to be represented in fhe proceeding by counsel a� Lender�s own choice, and
<br /> Trus�ar-will de�i�er, or�ause to be deli�ered,t� Lender such instruments as Lender may �eques�from time to time
<br /> to permi�su�h parts�ipation.
<br /> �ampIianGe With Laws. Trus-�or warran�s tha-� the Proper�y and Trustar'� use a-F�he Praperty c�mplies with all
<br /> exi�ting applicable laws, ❑rdinances, and regula�ions o�gvvernmental au-khorities.
<br /> Survival vf Promises. AII prvmises, agreements, and sfat�men�s Trus�or has made in this ❑eed of Trust shaIl
<br /> sur�i�e�he execution and deli�ery ❑�this ❑eed a�Trus�, shaII be �ontinuing in nature and shall remain in-FuII force
<br /> and effect until such�ime as Trus�or's 2ndeb-�edness is paid in full.
<br /> EXi5T1NG INDEBTEDNE55. The fol�nwing pro�isions concerning Existing Indeb�edness are a pa�f o�F this D�ed o�T�ust:
<br /> Exist�ng Lien. The ��en of �his Deed of Trust se�uring the f ndeb�edness may be secondary and inferior to an
<br /> �xisting Iien. Trustor expressly co�enan�s and agr�es �o payt or see�❑ the payrr�ent of,�he Exis-ting Indebtedness
<br /> and ta p�e�ent any defaul�an such inde�tedness, any defaul�under the instruments e�id�ncing such indsbtednessr
<br /> or any defauI�under any security dacumenfs for such indebtedness.
<br /> Nv Madification. Trustor shall na� enter into any ag�eement wifh �he ho�der o� any mortgage, deed o��rustr or
<br /> ❑�her security agreement which has p�"rority o�er �his Deed n-F Trus� by which tha� agreement is modi�i�d,
<br /> amendedr extended, _or renewed wi�hau� the prior written consent o-F Lender, Trustor shall nei�her request nor
<br /> a�cept any tuture ad�ances under any such se�uri�y agreement withou�fhe prior written c�nsent o-F Lender.
<br /> C�II[DEMIIIATID�. The�oI�awing pro�isians refating�o conderr-ina�ion proceedings are a part o�this Deed of Trust:
<br /> Pro��edings. If any proceeding �n cvnderr�nation is f�Ied, Trustor shall promptIy nati-Fy Lender in wri�ing, and
<br /> Trus�or shaII prompfly take such steps as may be necessary to de�end the a�tion and obtain the award. Trustor
<br /> may be the nominaf party in such proceeding, but Lender shall �e en�itled�v participa�e in�he proceeding and to be
<br /> r�presenfed in the pr�ceeding by counsel of i�s own choi�e� and Trusfor wiII de[i�er �r �ause �a be deIi�ered to
<br /> Lender such ins�rumen�s and documen�a�ion as may he r�ques�ed by Lende� �rom time t❑ tir-rie to p�rmit such
<br /> participation.
<br /> AppXicafion of Net Praceeds. If a!� or any par-r o�the Property is condsmned by eminen�damain proceedings or by
<br /> any prace�ding o�-purchase in �ieu af condemnatian, Lender may a�its elec��on �equire�hat a1l or any portian of the
<br /> n�t praceeds af �he award be applied ta the Indehtedness or �he r�pair or res�aration ofi fihe Property. The ne�
<br /> p�oceeds o�the award shaEl mean the award aftsr paymen�❑f a�i reasvnable cas�s, exper�ses, and at�arneys' fe��
<br /> incurr-ed by Trus�ee or Lender in cannec�tian wi�h�he condemnation.
<br /> IMPDSITI�N �F TA�CES, FEES AND GHARGES BY G�VERNMENTAL AUTH�RITIES. The fo!lawing pro�isions relating
<br /> to go�ernmen�aI�axes,fees and cha�-ges are a part af�his �eed ❑f Trust:
<br /> Gurrent Taxes, Fees and Gharges, Upon reques� by Lender, Trusfnr shall execu�e such docum�n�s in additian to
<br /> this Deed of Trusf and t�ke whate�er❑ther action is request�d by Lende�-to perFec�and can�inue Lend�r's �ien on
<br /> -�he Real Praperty. Trustor shall r�imburse Lender fo� a�i taxes, as descrihed beIow, tagether wi-th aIr expenses
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