|
2� 1 ��522�
<br /> DEE� �F TRUST'
<br /> ��o�t�nued} Page 4
<br /> LENDER`S EXPENDlT�RES, If Trustar �ails �A} fo keep the Proper�y fr�e af a[! �axes, li�ns, security interests,
<br /> encumbrances, and other cEaims, �B} to provide any r�qu�red insurance an the Properky, �C} to make repairs�o the
<br /> Proper�y or t❑ comply with any oblig�tion to main�ain Existing Indebtedness in good standing as requ�red below, then
<br /> Lende� may do so. If any ac�ion or proceeding is cflmmenced tha�would material�y affec� Lender's interests in the
<br /> Property, then Lend�r an Trustor's behalf may, hut is na� required ta, take any ac��on #hat Lender beiieves �a be
<br /> apprapriate �❑ pratect Lender's interests. A!f expenses incurred or paid �y Lender for such purposes wi�l �hen bea�
<br /> in�eres� at the ra�e charged under the Cred�t Agreemen� from the da�e incurred o� paid hy Lender to �h� date of
<br /> repaymen� by Trustor. Alf such expenses wilf became a part af the �ndebtedness and, at Lender's option, w�ll �A} be
<br /> payab�e on demand; �g} be added to the balan�e ❑�the �redit Agreement and be apport�oned among and be payab�e
<br /> with any installment payments ta become due during either �'�} �he�erm of any appli�ab�e insurance pol�cy; ar �2} #he
<br /> remaining term of the C�edi�Agreement; or {C} be treated as a balloan payment whi�h w�lf be due and payabfe at the
<br /> Credit Agreement's maturity. Th� Deed of Trus�aisv will se�ure payment of these amoun�s. The rights prav�ded f�r in
<br /> this parag�aph shall be in addit�an 'to any a�her rights or any remedies to which Lender may be entitled on account ❑f
<br /> any defaul�. Any such ac�ion by Lender shall no� be ctinstrued as curing �he de�ault so as to bar Lender �rom any
<br /> remedy tha�it othenn�ise would haWe had.
<br /> WARRANTY; DEFENSE�F TfTLE. The following prov�s�ons re�a�ing to ownership of the Prop�rty a�e a part of this Deed
<br /> of Trust:
<br /> Title, Trustor warranfs fhat: �a} Trustor holds good and marketable titfe of record to the Property in fee simp�e,
<br /> free and clear of afl liens and encumbrances other than �h�se se� fa�th in the Rea! Prope�ty description or in the
<br /> Ex�sting Indebtedness sectifln below or in any fitle insurance poficy, titfe report, or final title op�n�on �ssued �n fa�or
<br /> of, and accep#ed by, Lender in cannection wi#h this 1�eed af Trust, and �b} Trust�r has the fufl right, pawer, and
<br /> authori�y�o ex�cute and def�ver this Deed of Trust to L�nder.
<br /> Defense o�Title. Subjec�to th� except�an in the paragraph abo�e, Trustor warran�s and wilf €vre�er de�end fh�
<br /> ti�fe �o the Property against�he lawfu! claims o'�alI pers�ns. �n the e�ent any action or pra�eeding is commenced
<br /> tha�ques�ians Trustar's title or the interest of Trustee ar Lender under�his Deed af Trust, Trustor shall defend the
<br /> action at Trustor's expense. Trustor may be�he nomina[ pa�ty in such proceeding, but Lender shall be en�it�ed to
<br /> parkicipat� in �he proceeding and to be r�presented in the proceeding by counsef o� Lender's own chaice, and
<br /> Trus�or will defiver, or cause to be delivered,t❑ Lender such instruments as Lender may r�quest from fime fo time
<br /> to permit such participatian.
<br /> Complian�e VIJi�h Laws, Trus�or warran�s that #he Proper�y and Trus�ar's use ofi the Property c�mp�ies with afl
<br /> �xi�ting appficable laws, ordinances, and regu�ations o�governmen�a�authori��es,
<br /> Survival af Promises. All prom�ses, agreements, and sta�ements Trustor has made in �his Deed of Trust shall
<br /> survi�e the execution and delivery ❑�#his Deed of Trust, shafl be continuin� in nature and shall r�main in full force
<br /> and effect until su�h time as Trustar's Indebtedness is paid in full.
<br /> EXISTIN�1NDEBTEDNESS. The fa�lowing provisions concerning Existing fndebtedness are a part of this ❑eed flf Trust:
<br /> Ex�sting Lien, The lien o� this Deed of Trust securing the lnd�btedness may be sec�ndary and inferior to an
<br /> existing �ien. Trustor expr�ssly ca�enants and ag�ees to pay, or see to the paymen�of, fhe Existing lndebtedness
<br />' and to pre�ent any default on such inde�tedness, any de�ault unde�the instrum�nts evidencing su�h indeb�edness,
<br /> or any defauft under any security documen�s for such indebtedness.
<br /> No 1Vlodificat�Qn. Trustor sha�l not enter into any agreemen# with �h� h�lder af any mortgage, deed ❑f t�us�, ❑r
<br /> other securi�y agreement which has priority ��er this Deed of Trust by which that agreement is modified,
<br /> amended, extended, or renewed without the priQr wri�#�n �onsent o�F Lender. Trus�or sha[I nei#her request nar
<br /> accept any future ad�ances unde�any such security agreement without th�prior written consen�o�Lender.
<br /> C�NDEMNATION. The�ollowing p�-ovis�ons relating�o condemnat�on pr�c�edings are a part of this Deed af Trust:
<br /> Proceedings. �f any proceed�ng �n condemna�ion is f[ed, Trustor shall promp��y notify Lender in wri�ing, and
<br /> Trus�or shall promptly take such steps as may be n�cessary to defend �he action and obtain �he award. Trustor
<br /> may be the nominaf pa�ty �n such proceeding, but Lender shafl be entitled to pa�ticipat� in�he pra�eeding and to be
<br /> represented in the p�-oceeding by caunsel of i#s �wn cho�ce, and Trust�r will deli�er or cause �� be de[i�ered to
<br /> L�nder such �ns�ruments and documen#ation as may be reques�ed by Lender from time to time �a permit such
<br /> par�icipa�ion,
<br /> Application of Ne�Proc�eds. ��a�l or any part of the Praperty is condemned by eminent damain proceedings ar by
<br /> any praceeding or purchase �n lieu of Gondemna�ion, Lender may at its election require that al1 or any por�ion o'�the
<br /> net proceeds o�the award be appl�ed to �he lndeb�edness or the repa�r or res�oration of the Property. The n�t
<br /> proc�eds of the award shalf inean the award after paymen�❑�a�l reasonable casts, expenses, and attorneys' �ees
<br /> incurr�d by Trustee or Lender in connec�ion with the condemna�ian.
<br /> If�P�SITI�3N aF TAXES, FEES AND CHARGES BY GDVERNMENTAL A�THQR1TlES. The fo�fowing provisions re�ating
<br /> ta ga�ernmental taxes,fees and charges are a par�of this �eed of Trust:
<br /> Cu�renf Taxes, Fees and Charges. Upon request �y Lender, Trustor shafl execute such documents in addi�ian to
<br /> this Deed o�T�ust and take wha���er other action is requested by Lender t❑ p�rfect and c�ntinue Lender's lien on
<br /> the Real Proper�y. Trus�ar shall re�mburse Lender for a1� �axes, as described below, together with a�l expenses
<br />
|