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2� 1 ��5571
<br /> �EEv oF T�usT
<br /> ��ontinu�dj Pa9� �
<br /> �vrnp�iance with the terms vf this Deed of Trust wou�d �onstitute a duplication of insurance requirement. If any
<br /> proceeds from ihe insurance hecome payabl� vn loss� the pra�isians in this Deed �f Trus� for di�ision of proceeds
<br /> shall apply vnly to that pvrt�on of the proceeds not payable to the hoider o#the Exis#ing lndebtedness.
<br /> Trustvr's Report on lnsur�nce. Upon request of L�nder, howe�er nat more than once a year, Trustor shall �urnish
<br /> tv Lender a r�port on each existing po4icy of insurance showing: �1 j the name of the �nsurer; �7f the risks
<br /> insured; �3f the arnflunt �f the po�icy; �4y the property insured, the then current rep�acement �alue �f such
<br /> prvpe�ty, and the manner❑f determining that�alue; and �5� the expiration date of the policy. Trustvr shall, upvn
<br /> request❑f Lender, ha�e an independent appraiser satfsfactory to Lender determ�ne the cash�alue replacernent�ost
<br /> af the Pr�perty,
<br /> LENDER'S EXPENDITlJRES. I#any action or praceeding is cvmmenced�hat would materially affect Lender's interest in
<br /> the Property or if Trustor faifs to comply with any pra►►ision af this De�d vf Trust or any Related Documents, in�luding
<br /> but not �irnited t❑ Trusivr's failure to cvmpfy with any abligation to maintain Existing Indebtedness in go�d standing as
<br /> required below, or to discharge or pay when due any amounts Trustor is required to discharge or pay under this Deed�f
<br /> Trust or any Relat�d Documents, Lender on Trustvr's beha�f may �but shall nvt be ob�igated #o� take any action that
<br /> Lender d�ems apprvpriate. including but not limited to discharging or paying ai� taxss, liens, security inte�ests,
<br /> encumbran�es and other clairns, at any time levied or placed on the Prvperty and paying all cvsts f�r insuring,
<br /> maintaining and preser�ing the Praperty. All such expenditures incurr�d or paid by Lender for such purposes will then
<br /> bear interest at the rate cha�ged under the Note fram the date incurred ar paid t�y Lender �o #he date of repayment by
<br /> Trustor. A�f such expenses will became a part af the Indebtedness and. at Lender's option, w�li �A} be payable an
<br /> demand; �Bf be added to the balan�e of the Note and he apportianed among and be payable with any installment
<br /> payments ta become due during either �1 f the term o� any applicable insurance policy; or �2f #he remaining term vf
<br /> the Nate; or tC� be treated as a ba�lovn payment wh��h will he due and payable at the Note's maturity. The ❑eed o#
<br /> Trust also wi�! secure payrnent of these amounts. Such right shall be in addition �o all ❑ther rights and remedies to
<br /> w hich Lender may b�entitled upvn Default.
<br /> WARRANTY:DEFEIVSE aF TtTLE. The#vllvwing pra�isians relating tv vwnership vf the Prvperty are a part vf this❑eed
<br /> of Trust:
<br /> TitIB. Trustvr warrants that: �af Trustor holds good and marketable t�tle of��cord ta the Prvperty in fee simple,
<br /> free and clear af all �iens and en�umhran�es vther than those set forth in the Real Pr�perty descr�ptian or in the
<br /> Exist�ng Indebtedness sectivn below or in any title insurance policy. title report, vr final title vpinian issu�d in fa�vr
<br /> af, and ac�epted by, Lender in �onnectivn with this Deed of Trus#, and {bf Trustvr has the full right, p�wer, and
<br /> autharity to execute and deli��r this ❑eed of Trust tv Lender.
<br /> i]efense of Titls. 5ubject tv the exception in the paragraph abo►►e, Trustor warrants and will fare�er defend the
<br /> title to the Prvperty against the �awfu�claims of all persons. I n the e�ent any action or proceeding is commenced
<br /> that questians Trustor's title or the interes#of Trust��or L�nder under this Deed of Trust, Trus�or shall defend the
<br /> a�tion at Trustvr's expense. Trustor may he the nomina� party in such proceeding. but Lender shall be ent�tled to
<br /> participate in the proceeding and to be represented in ihe proceeding by counsel o� Lender's vwn choice, and
<br /> Trustar will deli�er, or cause tv be deEi�ered, t❑ Lender such instruments as Lender may request from time ta time
<br /> tv permit such participation.
<br /> Compliance With Lsws. Trustor warrants that the Property and Trustor's use vf the Prvper�y complies with all
<br /> existing applica�le laws,vrdinances, and regulations of go�ernmental authorities.
<br /> Sur►►i��l vf Represent�tions and Warr�nties. All representatians� warranties, and agreernents made by Trustor in
<br /> this Deed of Trust shall sur�i�e the execut�on and deli�ery af this De�d of Trust, shall b�continuing in nature, and
<br /> sha�l remain in full#orce and effect until such time as Trustvr's Indebtedness sha�l he pa�d in full.
<br /> EXISTING INDEBTEDNE55. The fol4awing pro�isions cvncerning Existing Indebtedness are a part ofi this❑eed❑�Trust:
<br /> Existing Lien. The I�en af this Deed vf Trust securing the indet�t�dness may he sec�ndary and infierior tv an
<br /> existing lien. Trustor expressly co�enants and agrees to pay, or see to the payment of� the Existing Indehtedness
<br /> and tv pre►►�nt any default vn such indebtedness, any default under the instruments e►►�dencing such indebtedness,
<br /> or any defauit under any security documents for such indebtedness.
<br /> Nv IlAodification. Trustvr sha�1 nvt enter into any agreement with the hvlder af any mortgage, d�ed vf trust, or
<br /> other se�urity agreement whiGh has priarity o�er this Deed of Trust by which that agreement is mvdifi�d,
<br /> amended, extended, vr renewed withvut the prior writt�n �onsent af Lender. Trusto� shall neither request nor
<br /> accept any future ad�ances under any such secur�ty agreement without the privr written cvnsent vfi Lender.
<br /> C�NDEMNATI�N. The following provisions relat�ng to condernnativn proceedings are a part vf this❑eed of Trust:
<br /> Proceedings. If any pro�eeding in condemnation is filed, Trustvr shall pr�mptly nvtify Lender in writing, and
<br /> Trustor shall pramptly take such steps as may be necessary tv defend the actian and �btain the award. Trustor
<br /> rnay be th�nvminal party in such praceeding, hut Lender shall be entitled to participate in the praceeding and tv be
<br /> �epresented in the praceeding by caunssl af its vwn choic�, and Trustar will deli�er or cause tv be de#i�ered tv
<br /> Lender such instruments and da�umentat'ron as may be requested by Lender frarn time to time to permi# such
<br /> participatian.
<br /> Applica�tion of Net Proceeds. If ail or any part of the Praperty is cvndemn�d by eminent domain prviceedinys or by
<br /> any prviceeding or purchase in lieu af condemnation, Lender may at its election r�quire that all�r any portivn of the
<br /> net proceeds of �he award be applied to the I ndeht�dness or the repair or restoration of the Prope�ty. The net
<br /> prvc�eds of the award shall mean the award after payment of all reasonable �osts, expenses, and attvrneys' fees
<br /> incurred by Truste�or Lender in cannection with the condemnation.
<br /> 1MPOSlTI�N aF TA]CES, FEES AN� CHAR�ES SY G�VERNNlENTAL ALJTH�RITIES. The fvllowing prv�isians relating
<br /> to gavernmentat taxes.fiees and charges are a part❑f this ❑eed af Trust:
<br /> Current Taxes. Fees and Charges. Upon request by Lender� Trustor shaii sxecute such documents in addition to
<br /> this Deed❑f Trust and take whate�e�other action is requested by Lender to per�ect and continue Lender's lien on
<br /> th� Real Property. Trus��r shall reimburse Lender for al! taxes, as described below, together with all expenses
<br /> incurred in re�ording, perfecting ar cvntinuing this Deed vf Trust, including withaut limita�i�n all taxes, fees,
<br /> documentary stamps, and flther charges for recording�r regis�ering this Deed o#Trust.
<br /> Ta�xes. The following shall consti#ute taxes tv which this sectivn appties: ��y a specific tax upon th�s type of
<br /> ❑eed v#Trust ar upon all or any part❑f the Indebtedness secured by this De�d vfi Trust; ��� a specific tax on
<br /> Trustvr which Trustar is authorized vr required tv dedu�t from payments vn the Indebtedness secured by this type
<br /> vf aeed of Trust; (3y a tax on this type of Deed of Trust chargeable against the Lend�r or the hvider vf th� Note;
<br /> and �4y a spe�ific tax an a�l ❑r any portion of the Indebtedness ❑r❑n payments ❑f principal and interest made by
<br /> Trustor.
<br /> Suhsequent Taxes. I� any tax tv whi�h this section applies is enacted suhsequent to the date of this Deed of
<br /> Trust, this e�ent shall ha�e the same effect as an E�ent of Default, and Lender may exercise any ar all vf its
<br /> a�aifabie remedies for an E�ent of ❑e#ault as pro�ided b�law unless Trustvr either �1 y pays the tax h�fore it
<br /> becomes delinquent, or 4�} contests the tax as pro�ided aba�e in the Taxes and Liens section and depQsits with
<br /> Lender cash or a sufficient carporate surety bond or other security satisfactary tv Lend�r.
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