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2� 1 ��5444
<br /> ��Eo �� TRu�-r
<br /> €Continued} Page �
<br /> Property in an amount sutficient to avvid appiicat�vn a# any cansurance c�ause, and with a standard mortgagee
<br /> clause in fa�ar o€Lender,together with such other hazard and l�abflity tnsurance as Lentie�may reasonably require.
<br /> F�olicies shal! be wri#ten in form, amvunts, coverages and basis reasonably acce�ptab#e tt� Lender and tssued by a
<br /> company or companies reasanably acceptable tv L�nder. Trustor, upon r�quest of Lende�-, ►�i#I de�ive�-to Lender
<br /> from tirne tv time the po�icies ar certificates��f insurance in form satisfac#ory#o Lender,in��uding st�putativns that
<br /> cav�rages wiil nvt be can�e�led vr diminished without at least thirty t3Q)day�priar written nv#ice ta Lend�r�. Each
<br /> �nsurance pvli�y also shall include an endvrsement praviding#hat ca�erage in favar of Lend�r wil! n�t be impairet!
<br /> in any way by any a�t, �missian or defiault of T�-ust�r or any other person. Shauld the Real Property be I�cate�in
<br /> an area des�gnated by the Adm+nistrator afi the Federal �mergency Management Agency as a special flvad hazard
<br /> a�ea, Trus#o�- agrees ta abtain and maintain Federal Flovd lnsurance, if a�ailable, for the maximum amoun# of
<br /> Trustor's c�-e�f�#line and the€u�l unpaid principal balance ofi any prior liens�n the praperty securing the Ioan, up#o
<br /> the ma�cim�m policy�imits set under the Nationa�F�ood Insurance Prvgram,or as otherwise requir�d by Lender,and
<br /> ta mainta�n such�nsurance�o�the term of the loan.
<br /> Appiication of Proceeds. Trustvr shafl prvmp#ly notify Lender af any loss�r damage tv th� Prnperty. Lende�may
<br /> make pravf �fi �oss if Trustvr failS tv da sa within fifteen �15� days af the casualty. Wheth�r or nvt Lende�'s
<br /> se�urity is impaired, Lender may, at Lender's eleGtit�n, recei�e and retain the proceeds vf any insurance and apply
<br /> the prvice��s to the reduc�ion of the lndeb�edness, paymen�of any lien affecting the Prvperty, ar the restvration
<br /> and repai�vf the Prvperty. ff Lender elects tv apply the proceeds tv restoration and repair, Trustor shall repair vr
<br /> ��p�ace the damaged ar d�st�vyed Impro��ments in a manne� satisfactary ta Lender. �.ender sha�l, upan
<br /> satisfac#�ry pro�� of such expenditure, pay vr reimburse Trustor from the proceeds �or the reasonable cos� o�f
<br /> repair or restarat�on i� �rusto�- is not �n default under this t]eed ofi Trus�. Any proceeds whi�h have n�t been
<br /> dishurs�d with�� '!$0 days afte�the��-rr�ceipt and which Lender has not committed to the repa�r or restQration nf
<br /> the Property shall be used first to pay any amaunt nwing ta Lender under th�s De�d of Trust,then tv pay accrued
<br /> interest, and the remainder, if any, shal� be a�plied t�t#�e p�-incipal balan�e vf the Indebt�dness. 1f Lender hvlds
<br /> any prviceeds aft�r payment in fu�� of the �ndebtedn�ss, s�ch p�or�eds shali be paid ta Trustor as Trustvr's
<br /> interests may appear.
<br /> �ampsiance with Exisfing �nde'btedness. During the perivd in which any Exis#tng Indebtedness des�ribed below is
<br /> in e�fect, comp�iance with the insurance pravisinns eantained in the instrument ��iden�+ng such Existing
<br /> Indebtedness shall constitut� compliance w�th fhe insurance pro�isivns under this Deed of Tru�t, to the extent
<br /> cQmp�iance with the terms af this Deed of Tru$f wouid const�tute a duplica�ion of insurance requiremen#. If any
<br /> proceet�s frvm the insu�-ance become payab�e an loss, the pro�isiflns in this D�ed ofi Trust for di�isivn of prQceeds
<br /> shall app�y anly ta that partian of the p�4ceeds nvt payab�e ta the hv�der af the Existing indeb�edness.
<br /> LENDER'S E�C�'ENDfTURES. 1f Trustor fails �A} to keep the Prvperty �r�e of al� taxes, liens, security interests,
<br /> en�umbranoes, and ather claims, {B} to prn�ide any required insuranos on�he Property, ��) to make repairs tv the
<br /> Prope�ty or to cc3mp�y with any vblig�tion ta maintain Existing fndebtedness in gaod standing as r�quired below, then
<br /> L�nder may da so. If any a�t�an o�- prooeec�ing is oommenced that would materially aifect Lender's interests in the
<br /> Property, th�n Lender on Trustor's beha�f may, but is not required �o, take any actian #hat Len+der heli��es to be
<br /> appropriate to pr�te�t Lende�'s interests. AI� +expenses incurred or paid by Lender tor such purposes will then bear
<br /> �nterest at the rate c�arged unde� the �rsd�t Agreerr�nt from the date incurred �r paid by Lender tv the d�te of
<br /> rspaym�ent by Trustor. Al� such expens�es wil! becvme a par�ot the�ndebtedness and, at Lender's vption, wil� {A} be
<br /> payable an demand; �B} be added tv tne balanae o�the Credi�Agreerr�n�and�appartioned amo�ng and be payable
<br /> with any instal�ment paymen�s to b�cxxre due during either �'!} ths term of any�pp�icable insuranoe pv�i�y;or �2} the
<br /> remaining term of#h��redi�Agreement;or (C} be treated as a ba4��an paymen�w�}ch w�li be due and paya�le at the
<br /> C��dit Agreement's maturity. The D�eed vf Trust a�sa wil!s�ure paymen�of thes�amaunts. The righ�s pro�id�d for in
<br /> this paragraph shall be in additian to any other ri�hts ar any remedies tv whi�h Ler�der may be er�titled c�n ac�ount af
<br /> any default. Any such �ctian by Lender sh�ll nat be construed as curing the detault sv as tv bar Lender f�arn any
<br /> remedy that it vtherwise would ha�e had.
<br /> 111lARRANTY;DEFENSE�F T#TLE. The�o��aw�ng p�avisions relatin�#o ownership o�the Praper�y are a part of this Deed
<br /> �f Trust:
<br /> 'fitle. Trustor warrants�hat: ta)Trustor hvlds gv+od and marketabl� title vf record #o the Praperty in fee simple,
<br /> '�ree and clear o€ a�l liens and encumbranc�s vther tharr those set forth in #he Rea! Praperty description vr in the
<br /> Ex�sting Ind�btedness sectivn be�ow vr in any title insurance policy, titl�report, or fnal title apinivn issu�d in fa�or
<br /> o�, and accept�d by, L�nder in connectian with this Deed of Trust, and {b}Trustar has the full right, pvr►ver, and
<br /> authflrity tv execute and d�liver this Deed vf Trust to�ender.
<br /> Deferts� of Title. 5ubject tv the exceptivn in #he paragraph above, Trustor warrants and will �vre�er de�end the
<br /> tit�e #o the Praperty against#h� fawful claims vf afl persons. In the e�ent any action or proceeding is cammenced
<br /> that questi�ns Trustvr's ti#le or#he interest of Trustee or Lender under this De�d�f Trust,Trustvr Shall defend the
<br /> action at Trustor's expense. Trustor may be the nominal pa�#y in su�h prviceedin�, but Lender shall be entitle� t�
<br /> participate in the proceeding and to be represented in th+e prv�eeding by �vunsel of Lender's vwn choi�e, and
<br /> Trustor wil�de�iver, ar cause to be deli�ered,tv �.ender su�h instrum�nts as Lender may request from time to time
<br /> ta permit su�h partic�patian.
<br /> C�mpliancs With Laws. Trustvr warrants that the Prvperty and Trustar's use of the Pr�pes�ty �4mpli�s with all
<br /> existing applica�►le laws, vrdinances,and regulatiQns of gv�er�nmental auth�rities.
<br /> Surrrival o� P�vmises. A�� pramises, agreements, an�t �tatements Trustvr has made in this Deed of Trust shall
<br /> survive the execution an�!del�Wery af this Deed of Trust, shall be c�n�in�ring in nature and sha1�remain in full for�ce
<br /> and e�fect unti�such time as Trustvr's ln�ehtedness�s paid in fuSl.
<br /> EXiSTi1V�11VDEBTEDNESS. The fof�owing pro�isions concerning Existing Indebtedness are a par#vf this Deed of Trust:
<br /> Ex�sting Lien. The lien vf this Deed of Trust securfng the lndebtedness may be secot�da�y and inferior to an
<br /> existing iien. Trustvr expressly co�enant�and agrees ta pay, ar see to the payrnen�vf, t+he Existin� Ind��tedness
<br /> and to pre�ent any defaut#an such indebtedness, any default under the instruments eaidencing such indebte�ness,
<br /> or any detault under any security documents for such indebtedness.
<br /> Nr� IlAodificatidn. Trustor sha�� nvt ent�r into any agreement with the ho�der c�f any martgage, deed vf trust, or
<br /> vther security a�greement which has p�ivrity over th�s Deed vt T�ust by which that agreement is m�di�ied, �
<br /> amended, ex�ended, flr renewed witht�ut #he pri�r w�itten cvnsent af Lender. Trustar shalf neither request nvr
<br /> accept any fufure ad�ances under any such security agre�ment without th�prior written consent of Lender.
<br /> ��N[3EMNATi�N. The follvwing pra�isians relating tv cvndemnation proceedings are a part of this Deed of Trust:
<br /> Proceedings. if any prvaeeding in �vnd�mnatian is filed, Trustar �hall prQmptly �nvtify Lender in writing, and
<br /> Trustor shall promptly�ake such steps as may be neoessary tv defend the action and obtain th�award. Trustvr
<br /> may be the nominal party in such prnceeding, but Lender sh�!!be enti#!ed to participat�in the proc�ed��g an�t tv be
<br /> represented in �he proceeding by oaunssl af its own choice, and Trustvr will deli�er or�ause to be deli�ered to
<br /> Lender such instrumenfs and documentation as may be reque�ted by Lender fram time tv time to permit such
<br /> participation.
<br /> Appii�atian of Net Praceeds. �f al�ar any part of the Property is vonderrx�ed by eminent domain pro�edings or by
<br /> any proc�eding or�urd-��s�in lieu of avndemnation,Lender may at its el�ction require that a#I v�any porticm of the
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