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2� 1 ��4735
<br /> �]EE1� �F TRU�T
<br /> {Cont�nued} Page 3
<br /> �he maximum pol�cy limifis se�under�he Nat�ona� Flood Insurance Prog�-amr ❑r as ❑therwise required by Lender, and
<br /> �❑ main�ain such insurance for the term ❑�the ioan. _
<br /> AppIicatian o� Praceeds. Trusto� shaii pramptly no�ify Lender ofi any loss ❑r damage �o the Praperty if the
<br /> estimat�d cost af repair v�repiaGement exceeds $1 r000.0�. Lender may make pronf of Ioss if Trustor�aiIs�o do
<br /> so within fifteen {'15} days of the casualty. Whether-nr not Lender's seaurity is impaired, Lender may, a� Lender's
<br /> elec�ian, recei�e and retain fhe p�oceeds of any insurance and apply �he pro�eeds to the reductiQn of �he
<br /> indebtedness, payment of any lien affectzng the Property, or�he �estoration and repai� of the Property. If Lender
<br /> elec�s to apply �he proceeds to r�s�ora�ion and repair, Trustor shali �epair ❑r rep�ace �he damaged o� destroyed
<br /> Impravements in a manng�satis�Factar-y�o Lender. Lender sha��. upan safi���ctory praof o�F such expenditure� pay
<br /> or reimburse Trus�or f�om fihe pro�eeds for�he reasonabie �ost of repair� or restoratian i�Trusfor is nat in defaul�
<br /> under�his Deed o�Trus�. Any proceeds �hich ha�e not been disbursed wi�hin Z 8� days after their receip� and
<br /> which Lender has not cammitted to the repair ar resfiaration ❑f the Praperty shall he used first�a pay any amount
<br /> vwing�❑ Lend�r under�his aeed of Trust,then�o pay ac�rued in�erest, and the remaindsr, if any, shaIl �e appjied
<br /> to �he principa� bala_nce ❑f the lndeb�edness. If Lende� hofds any proceeds after payment in fu[j of the
<br /> jndeb�edness,such p�aceads sha�I �a� paid to Trusfor as Trustor's in�eres�s may appear.
<br /> Cvmpliance w��h Exisfing lndebtedness. Dur�ng the periad in which any Exis��ng tndebtedness descr�bed below is
<br /> in efifect� compliance with the insurance provisions Ganfiained in tf�e instrument e�idenGing �uch Existing
<br /> Indebtedness shaIl constitu�te compliance with the insuranGe p�-o�isions under thi$ Deed af Trust, to the exfen�
<br /> compIiance with �he �erms af�h�s ❑eed �f Trust wouId constitute a duplication af insu�ance requiremen�. If any
<br /> proceeds from the insurance bec�me payab�e on Iossr�he pra�x��ans in�his Deed af Trus�for division ❑� proceeds
<br /> shall appj�only tv that por�ion ❑�the proceeds not payabl�to the holder❑f the Exis�ing lndebtedness,
<br /> LENDER'S EXPEND[TURES. If Trustor �ails [A} to keep �he Proper-�y �ree ❑f aIl �axesr liens� secu�-ity in�e�-ests�
<br /> encumbrances, and o�her cIaims, {By �o pra�ide any required insurance on�h� Property, ��} to make repairs to the
<br /> Property or�o �omply wi�h any obligation �o maintain Exis#xng Indeb�edness in good s�anding as required belvw, then
<br /> Lender may da sa, If any actian or proceeding is commenced �ha� wauld materially affect Lender's interests in �he
<br /> Property, then Lender an Trus�ar's behaI� may� but is n�t required �a, take any ac�ion that Lender beIieves to be
<br /> app�opriate t� pro�ect Lender's interests. A11 expen�es incurred ❑r paid by Lender far such pu�-poses wi�l then bear
<br /> interes� at �he ra�e charged under the Gredit Agr�emen� from the date incurred or paid by Lender �o the date of
<br /> repayment by Trus�or. A�� su�h expenses wiii b��ome a part of the ind�btedness and, at Lender's option, will �A} be
<br /> payable an demand; �B} be added �a �h� balance vf the Credit Agreement and b� apportioned among and be payable
<br /> wifh any insta�lment paymen�s to become due during ei�her �Z� fihe term of any appli�able insurance policy; or �2) the
<br /> remaining term of the Credit Agreement; or {C� be�reated as a balloon payment which wi�l be due and payabje at�he
<br /> �redit Agr�ement`s maturi�y. The ❑eed of Trust alsa wiI�secure paymen�of�hese amounts. The r�ghfs pro�ided fa��n
<br /> this pa�agraph shaII be in addit�an to any o�her rights or any remedies to which Lender may be entitled on accoun� af
<br /> any de�ault. Any such action by Lender shall nat be cons��ued as curing fhe def�ul� so as ta bar Lender from any
<br /> remedy�haf it o�hsrwise would ha�e had,
<br /> WARRANTY; DEFENSE qF TITLE. The�ollawing pra�isions reIa�ing�v owne�ship❑f�he Prap�rty a�e a part of this Deed
<br /> ��T�ust:
<br /> Tif1e. Trustor warrants that; {a} Trus�or holds govd and marke�abie tit�e of record to the Praperty in fee simple,
<br /> �ree and c�ear of a!I liens and encumbr-anc�s other than fhose se� -�or-rh in the Real P�operty description or En �he
<br /> Existing Indeb�edness section below or in any�it�e insurance pol��y� t�tle repat-�r ar final titl�❑pinian �ssued in�a�or
<br /> o�, and accep��d by, Lender �n connec�i�n with this ❑eed of Trust, and {b7 Trustar has the fulj righ�, power, and
<br /> au�harity t❑ execute and deii�er this ❑�ed of Trust to Ler�d�t�.
<br /> ❑efense of Tif�e. Suhject to the exceptian in �he pa�agraph abo�e, Trustat-warrants and wiFl fore�er de�end the
<br /> �itIe to the P�oper�y against the IawfuI claims a�all persons. In�he e�ent any action ❑r proceeding is �ommenced
<br /> tha�questions Trustor's titIe or�he interest of Trustee or Lender under this ❑eed of Trust,Trustor shali de�end the
<br /> a��ion at Trustor's expense, Trusfar may be the nomina� party an such prnceeding, but Lender shaii be entitled �o
<br /> partiGipate in the pra�eeding and �v be �epresen�ed in the praceeding by aQunseI ❑f Lender'� own choice, and
<br /> Trustor w�lI deli�er� or cause ta be deli�ered,�o Lender such instrumen�s as Lender may request-Fram time�o�ime
<br /> to permi�su�h partiaipatian.
<br /> Compliance With Laws, Trus�or war�an�s tha�the Praperty and Trusfo�'s use of the Property complies with aIl
<br /> exis�ing applicable iaws, ordinances, and �egula�ions of go�ernmental au�hori�ies.
<br /> Survival vf Promises. All promises, agreements, and s�atements Trus�or has made in this ❑eed v� Tru�t sha��
<br /> survi�e the execution and deli�ery of this ❑eed of Trust, sha11 be continuing in nature and shaii remain in fuil force
<br /> and effec�unti!such�ime as Trus�or's Indebfedness is paid in fuli.
<br /> EXISTIN� �NDE�TEDNESS. The�vlIowing pra�i�i�ns cancern�ng Existing lndeb�ednes�are a part of this ❑eed of Trust;
<br /> Existing Lien. The lien of this Deed ofi Trust securing the lndeb�edness may be secondary and in�e�ior to an
<br /> existing 1ien. Trusfor expressly co�enants and agrees to pay, ❑r s�e�v �he paymen�vf, �he Existing Indebt�dness
<br /> and to pre�ent any default an such indeh�edness, any default under the instruments e�idencing such indebtedness,
<br /> or any d�fau�t under any security documen�s fo�such indsbtedness,
<br /> Na Modifi�afivn. T�us�ot� st�al� nat en�er into any asreer-�ent wi�� the h��der of any mvrtga�e� deed af trust� or
<br /> ofher se�urity agreement wh�ch has priority n�er �his Deed of Tr-us� by which that agreement is mad'rtied�
<br /> amended, ex�tended{ or renew�d without the prior written consent af Lender. Trustor shalI neither reques� nor
<br /> accep�any future ad�ances under any such security agreement withou��he prior-writ�en consent o�Lender.
<br /> C�NDEMNATInN. The fo!!o'wing pro�isians reIating to condemnafion proceedings are a part❑�this Deed ❑f Trust:
<br /> Pr'oceedings, If any proceeding in condemnation is filed, Trusto� shaIl promptly noti�Fy Lender in writing, and
<br /> Trustor shall promptly take such steps �s may be necessary fio defend the action and vbtain �he award. `F'rustor
<br /> m�y be�he naminal party in such proceeding� but Lender shal� be entitled ta participate in�he praceeding and to be
<br /> r�epresen�ed in the pra�e�ding by coun�el af its awn choiGe, and Trustar will deli�er ❑r cause ta be deli�ered �a
<br /> Lender such instrument� and documen�ation as may be requested by Lender from time to time ta p�rmi� suGh
<br /> participation.
<br /> App�ica�on of Net Proceeds, If ail or any par-�of�he Property is condemn�d by eminen�dvmain proceedings ar by
<br /> any praceeding or purchase in Iieu of condemnation, Lender may a�i�s elec�ion requi�e that aII or any por-tion of�he
<br /> net prnceeds o� �he award be applied to the Indeb�edness ❑r the repair or restoration ❑f the Property, The net
<br /> praceeds o�the award shaj� mean the award af�er payment of aiI reasvnable �osts, expenses, and attvrneys' f�es
<br /> incurred �y TrusCee ar Lender in canne�tson wi�h the condemna�ion.
<br /> lMP�SITi�N OF TAXES. FEES �4�[D CHARGES BY G�VERNMENTAL AUTHDR�TEES. The foiiawing pro�isions relating
<br /> �o governmental�axes,fees �nd charges are a part o�this ❑eed of Trust:
<br /> �urrent Taxes, Fees and Charges, Upnn �'equest by Lender, Trus�or shaii execute such documents in addi��on to
<br /> �his Deed a�Trust and take whatever o�her ac�ion is requested by Lender to perfect and �ontinue Lender's lien on
<br /> �he Real Praperty. T�ustor shall reimburse Lender for all taxes, as described belaw, together wi�h a!! expenses
<br /> incurred in recor�ding, per�ecting or continuing this De�d of Trusfi, including without iimi�ation ai� taxes, �ees,
<br /> docum�n�tary stamps� and ott�er charges for rec�rding or registering this De�d❑f Trust.
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